Briefly Business: Andhra Bank cuts minimum lending rate by 0.25

Andhra Bank on Tuesday reduced its benchmark lending rates by 0.25 per cent to 10.25 per cent,making home

Andhra Bank cuts minimum lending rate by 0.25

New Delhi: Andhra Bank on Tuesday reduced its benchmark lending rates by 0.25 per cent to 10.25 per cent,making home,auto and corporate loans cheaper for borrowers,Andhra Bank said in a filing on the BSE. PTI

NTPC okays R12,953 cr for expansion

New Delhi: NTPC on Tuesday said the companys Board has given investment approvals to expansion projects involving Rs 12,953.12 crore. The Board also approved the appraised current estimated cost of Rs 11,638.55 crore for the Gadarwara Super Thermal Power Project,Stage-I to be implemented in Madhya Pradesh. PTI

US Senate committee gives nod for Lew

Washington: US President Barack Obamas nominee Jack Lew has received approved of the US Senate Finance Committee to become the Treasury Secretary,as the ex-White House chief of staff cleared the first hurdle on his way to a full Senate confirmation vote. PTI

JPMorgan Chase to cut up to 4,000 jobs

NEW YORK: JPMorgan Chase amp; Co plans to cut about 3,000 to 4,000 jobs in its consumer bank in 2013,representing about 1.5 per cent of the overall workforce,it said on Tuesday. Reuters

Varadarajan selected BPCL chief

NEW Delhi: S Varadarajan has been selected to head Bharat Petroleum Corp Ltd BPCL. Varadarajan,currently the director Finance in BPCL,will replace RK Singh when he superannuates on September 30. PTI

ChrysCapital picks 10 in Au Financiers

new delhi: Au Financiers India Limited,a NBFC has announced that ChrysCapital,a leading private equity firm has acquired a 10 per cent stake in the company. Motilal Oswal Private Equity,and to a smaller extent,the Promoters,were the sellers in this deal. ens

PAC: Include interest on tax refund in Budget

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New Delhi: A Parliamentary panel has asked the government to make indication of interest on the tax refund in the Budget so that there is greater transparency in financial administration of the country. pti

China breached trade rules: WTO

Geneva: China breached the rules of international commerce by slapping anti-dumping duties on x-ray scanners imported from the European Union,the World Trade Organization said on Tuesday. pti

Hindalco declares lock-out at Silvassa

New Delhi: Aditya Birla Group flagship firm Hindalco Industries has announced a lock-out at its Silvassa plant in Dadra and Nagar Haveli following continuation of workers strike. pti

Rupee down 23 paise against US Dollar

Mumbai: Falling for the first time in three days,the rupee has lost 23 paise to end at 54.09 due to month-end dollar demand and a steep fall in local equities. The rupee moved in a tight range of 54.00-54.22 before ending at 54.09. pti