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This morning we reported about the slash in rates from Bank of Baroda and Allahabad Bank. Just a while ago we have received confirmation from Union Bank of India and Syndicate Bank about interest rate cuts to boost the economy. Union Bank, has slashed its deposit rates by up to 1.35% across various maturities with … Read more Union + Syndicate Bank Cut Rates
Following change in foreign direct investment (FDI) rules for the food processing sector, Pepsico India Holding need not divest 49% equity in bottling firms to Indian companies, with the government exempting it from the obligation. The exemption also prepares the ground for infusion of Rs 250 crore ($50 million) FDI by the beverages major in … Read more Pepsi gets exemption from divestment compulsion
The joint venture insurance company between Bank of India, Union Bank of India and Japanese Dai-ichi Mutual Life Insurance Company was registered with the Insurance Regulatory and Development Authority (IRDA) on December 26, 2008. They are all set to commence operations this month. The latest entrant into life insurance sector – Star Union Dai-ichi Life … Read more Star Union Dai-ichi Life to Commence Operations
Public sector banking major, Bank of Baroda (BoB), has slashed its interest rates on non-resident external (NRE) term deposits to 3.75% from 4.52% earlier for the period between one-year to two years, 3.19% from 3.87% previously between two years to three years, 3.47% from 4.14% ago between three years to four years and same thereafter with … Read more Bank of Baroda + Allahabad Bank slash rates
Automobile major, Tata Motors, has registered a sales decline of 47.11%, to 25,219 units in December 2008, against 47,678 units in the year ago period. In the domestic market, the company witnessed a 31.28% fall in passenger car sales to 9,838 units compared to 14,316 units while commercial vehicles sales fell by 50.96%, to 14,056 … Read more Tata Motors sales skid 47.11% in December
India’s banking regulator Reserve bank of India (RBI) has cut rates across the board ahead of its quarterly review in shceduled later in January. The bank lowered both its policy rates repo and reverse repo by 100 bps while the reserve ratio CRR has been cut by 50 bps. CRR cut will release about Rs … Read more RBI cuts rates across the board