GAIL to raise ECBs
Mumbai: GAIL (India) is set to raise $100 million external commercial borrowings to meet its capital expenditure needs, a senior official said on the sidelines of a news conference announcing sale of Union Government's 10 per cent stake in the company.

"We plan to add 50,000 tonnes through de-bottlenecking to our three lakh-tonne petrochemicals capacity over the next two-three months. Over the next two years, we plan to add a total 1.2 lakh tonnes to its present capacity," Mr J.K. Jain, Director (Finance), told reporters.
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New Holland Tractors, Oriental Bank in pact for finance schemes
New Delhi: New Holland Tractors (India) has partnered with the Oriental Bank Of Commerce (OBC) to offer finance schemes for New Holland tractor customers.

Under the scheme, named OBC-NHI Agri Machinery Loan Scheme, farmers can avail themselves of a special rate of interest of 10.25 per cent for loans up to Rs 2 lakh and 11.25 per cent for loans over Rs 2 lakh. The loan is repayable in convenient half-yearly instalments spread over five-nine years.
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RTGS undergoing trial run with 4 banks
Mumbai: The real time gross settlement system (RTGS) is currently undergoing a trial run with the participation of four banks, one from each sector.

The `critical and complex' RTGS system is being implemented in two phases in India, said an RBI press release.
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enStage e-payment solution for banks
Bangalore: Enstage has announced its plans to set up a BPO unit in India. It also launched Accosa, an e-payment solution for banks, with HDFC Bank as its first customer.

The BPO unit is targeted at Indian banks and institutions to enable them to deploy Accosa, said Mr Govind Setlur, CEO.
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Rupee gains slightly
Opening at Rs 45.2550/2625 per dollar, the rupee is currently quoted at Rs 45.2450/2550, higher from yesterday's finish of Rs 45.26/27.
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