The Hindu Business Line : Saturday, March 25, 2000

	Financial Daily from THE HINDU group of publications Saturday, March 25, 2000

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Banking & Finance

Banking and Finance
Citicorp Finance to buy 74 pc in Nation Wide Fin
CITICORP Finance India Ltd (CFIL) today said it will acquire a 74 per cent stake in Nation Wide Finance Ltd (NWFL) at cost of $3.4 millions.

Wage pact with IBA against union norms: BEFI
THE MoU signed on March 22 between the Indian Banks' Association (IBA) and three bank employees' unions, which paved the way for a wage settlement on March 25 is against trade union principles and the interest of bank employees in general, according to t he Bank Employees' Federation of India (BEFI), which did not sign the MoU.

Market surge lifts recovery hopes
BANKS and financial institutions are taking a closer look at the stock markets these days. No! Not for investments. They are on the look out for some of their bad accounts, which have turned the bulls crazy on the bourses.

Rating LABs on the field
AFTER about three years and nine `in-principle' clearances from the RBI, licences have been given to two local area banks (LABs) _ at Vijayawada in Andhra Pradesh and Phagwara in Punjab.

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