Bizbits

Dena bank launches Visa credit card

MUMBAI: Dena Bank on Monday launched its Visa credit card targeted primarily at the growing middle class with an entry fee of Rs 400. quot;The bank is targeting a credit card base of one lakh by the year 2001, increasing it to three lakhs within three years,quot; said Dena bank chairman and managing director, Ramesh Misra. In another front, to augment the Tier II capital, the bank closed its bond issue 8211; series IV worth Rs 100 crore offering a coupon of 13 per cent for a maturity period of 70 months.

VSNL to upgrade shell accounts

MUMBAI:Internet Service Provider Videsh Sanchar Nigam Limited has stated that all shell accounts except student shell accounts would be upgraded to TCP/IP immediately. The upgradation will be carried out immediately without any extra charge to the account holders. The account holders will only have to pay for the number of hours they would be getting TCP/IP access. No new applications for renewal or opening of shell accounts would be accepted.