Briefly Business

Allahabad Bank ups FD rates by 2.25

Mumbai: State-owned Allahabad Bank on Monday raised fixed deposit rates across various maturities by up to 225 basis points or 2.25 per cent.

NBCC IPO to fetch Rs 250 crore

New Delhi: The government plans to raise about Rs 250 crore from the initial public offer of National Building Construction Corporation NBCC,for which it will appoint two merchant bankers by this month-end. Currently,government owns 100 per cent in NBCC and has floated request for proposal inviting bids from investment bankers.

VW to hike Vento diesel variant price

New Delhi: Car maker Volkswagen India on Monday said it will hike the prices of the diesel variant of its mid-sized sedan Vento by 2.2 per cent from July 1 to offset higher input costs. The petrol variant,however,will see no increase in price,the company said in a statement.

IBM,IIFL in Rs 298 cr outsourcing deal

Mumbai: IBM on Monday said it has entered into a Rs 298 crore outsourcing agreement with India Infoline to transform its IT infrastructure amp; establish a direct linkage between business performance and IT costs.

Kingfisher in talks on GDR issue: Mallya

Singapore: With fuel prices starting to move downwards,Kingfisher Airlines has resumed talks with investors for issuing global depository receipts to raise around 300 million,its owner Vijay Mallya said.

Venkataraman new Karur Vysya CEO

Mumbai: Private-sector lender Karur Vysya Bank today said K Venkataraman has taken charge as the managing director and chief executive officer. Prior to this,Venkataraman was MD of SBI Global Factors the bank informed the BSE.