Briefly Business: SBI cuts rate on bulk FD by 0.25% on select tenor

State Bank of India (SBI) on Monday announced reduction in interest rate on fixed deposits of maturity up to one year by 0.25 per cent

Published: June 4, 2013 1:37:01 am

SBI cuts rate on bulk FD by 0.25% on select tenor

New Delhi: State Bank of India (SBI) on Monday announced reduction in interest rate on fixed deposits of maturity up to one year by 0.25 per cent to 7.25 per cent. It has been decided to revise downwards by 25 basis points the interest rate on bulk deposits above Rs 1 crore for the tenors 7 days to less than 1 year,SBI said in a statement. pti

Open offer: Educomp CMD exempted

Mumbai: Sebi has exempted Educomp Solutions chairman and managing director Shantanu Prakash from making an open offer with respect to his proposed acquisition of 7.5 per cent stake in the company. pti

Dr Reddy’s,Fujifilm end proposed JV

Hyderabad: Dr Reddy’s Laboratories and Fujifilm Corporation has said they have decided to terminate a pact to establish a joint venture and an exclusive partnership for generic drugs business in Japan. pti

Nokia Siemens to close small India unit

HELSINKI: Nokia Siemens Networks said it plans to shut down,in July-end,its Kolkata plant,which employs 48 people and makes fixed-line communications equipment. reuters

RBI to infuse R7K cr to ease liquidity

Mumbai: The Reserve Bank has said it will infuse Rs 7,000 crore in the system on June 7 by buying government securities through Open Market Operations to ease liquidity situation. pti

NYSE Euronext plans to sell stake in MCX

new delhi: Global exchange giant NYSE Euronext is considering a fresh bid to sell its 4.79 per cent stake in commodity bourse MCX,after an earlier attempt failed in March this year. pti

For all the latest News Archive News, download Indian Express App