MUMBAI: Total deposits of State Bank of Travancore recorded a growth of 15.80% over the previous year to reach a level of Rs 8864.39 crore. NRI deposits constituted 41% of the total deposits and registered a growth of 24.6% over the previous year. The total advances of the bank grew by Rs 251.08 crore (6.28%) to reach Rs 4,251.50 crore at the end of the year.

The notable feature in the performance during the year was the reduction of net non-performing assets from 12.21% to 10.80%. The bank posted a net profit of Rs 43.45 crore as on 31st March, 1999 after making the required provisions. Despite the lower profits, the bank maintained the dividend at 25% this year.

Gifts'99 expo

MUMBAI: The Rs 500-crore Indian gift industry is all set to witness one of the biggest national trade fairs on gifts and stationery called Gifts'99 from August 12-16, 1999 at Nehru Centre, Mumbai. Nearly 250 leading companies including Tata Donnely, Anand Ritter, Eagle, First-Aid-First, WilmarCreations, Navneet Publications, JH Hertig of Switzerland, Polaroid, Sunglasses, Nitco Tiles, D'Signer Quartz and Corporate Stationery will be participating in the five-day exposition. The trade fair, organised by Introductions and Trade Shows, is expected to generate business worth Rs 100 crore.

Meltron

MUMBAI: Meltron is in the process of upgrading key telephone systems to digital key telephone systems to provide superior features. In order to provide after sales service more efficiently, it has appointed 3 dealers in Mumbai viz. Veerasons Telecommunications Pvt Ltd, Positron Electronic Services and Telerex Communication Ltd.

Jasubhai Digital

MUMBAI: In the biggest ever IT-publishing alliance for India, Jasubhai Digital Media-part of the Rs 200-crore Jasubhai group procured the exclusive rights to publish all magazines of the US $725 million CMP Media INC, global leader in IT based publications. The deal which is the largest of its kind for the CMP Media Inc. globally becomesoperational with the launch of Computer Reseller News in India, the first professional publication for the Indian IT Channel.

Zenith Global

MUMBAI: Zenith Global Consultants Pvt Ltd, a management consultancy organization with exclusive focus on corporate training and executive development, has tied up with US-based Quest 2000 Inc, a leader in CBT, WBT, executive training and help desk services to develop its various training modules for worldwide marketing. The modules will be developed at Zenith's Multimedia Development Centre - the first of its kind in India - located at the Madras Export Promotion Zone in Chennai.

Lotus-Cyberspace

MUMBAI: Lotus Development Coporation has tied up with Cyberspace Infosys Limited for national support centres which would include new technologies like call centres which provide round-the-clock assistance. The size of the project is close to USD 300,000, Ramesh Aroskar, Cyberspace chairman said. The call centres would be established at Mumbai and Delhiinitially and support would be available on toll-free numbers, according to Sandeep Mathur, country general manager, Lotus.

Rediff on The Net

MUMBAI: Rediff on The Net has introduced a faster search by tying up with Inktomi which also works with international companies like America Online, Yahoo!, Excite and MSN. Inktomi develops and markets software designed for internet infrastructure companies.