Banking
Bank of India raises bulk deposit rates for select maturities

The new rates would be applicable from 27 December 2012

New Delhi: State-owned  Bank of India revised upwards the interest rates on deposits of Rs10 crore and above for select maturities, reports PTI.

 

“...has informed BSE that the Bank has revised the interest rate for the deposit of Rs10 crore and above for the time bucket of one year and above to less than one years to 9% (earlier 8.75%),” Bank of India said in a filing to BSE.

 

The new rates would be applicable from 27 December 2012, it added.

 

Recently, Federal Bank and Dena Bank also revised upwards deposit rates for select maturities.

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COMMENTS

Anshuk

4 years ago

Rs 10 crore and above.. this should not be under personal finance. :)

Government notifies MCX-SX as recognised stock exchange

MCX-SX has already got an approval from SEBI to function as a full-fledged stock exchange

New Delhi: The government has notified the country’s newest bourse MCX-SX (MCX Stock Exchange)as a recognised stock exchange, paving the way for initial public offers, listing and trading of shares its platform, reports PTI.

 

MCX-SX has already got an approval from SEBI (Securities and Exchange Board of India) to function as a full-fledged stock exchange.

 

MCX-SX has been now notified as a “recognised stock exchange” by the ministry of corporate affairs (MCA), which would allow the bourse to list a company on its platform pursuant to an IPO and offer book building, besides other facilities for the public offers and trading of shares.

 

The government notification as a “recognised stock exchange” is also necessary for any investment in shares of a company listed on its platform to be treated as “quoted investment”. Besides, there are various other procedural benefits that a company gets after being listed on a recognised stock exchange.

 

MCX-SX is preparing to begin live trading in various asset classes, including equity and equity derivatives, on its platform as it has got all the necessary approvals from SEBI.

 

Earlier on 19 December 2012, it got the “commencement certificate” from SEBI, which was the final regulatory clearance to go live in new product segments such as equity, wholesale debt (bonds) and interest rate derivatives.

 

The much-talked about trading launch of MCX-SX, the third full-fledged equity exchange in the country, is likely to begin in January 2013.

 

MCX-SX is currently providing trading platform for only currency derivatives segment and would become a full-fledged stock exchange after launch of other segments like equity, equity derivatives, bonds and interest rate derivatives.

 

After going live, MCX-SX would compete with other full- fledged nationwide stock exchanges like the NSE and BSE.

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Jayalalithaa walks out of NDC meet after “big humiliation”

The Tamil Nadu chief minister said there had been many occasions where the chief ministers were allowed to speak for 25 to 35 minutes

New Delhi: Tamil Nadu chief minister Jayalalithaa said she had come prepared with several points to “enlighten the interest of Tamil Nadu and the interest of the nation,” reports PTI.

 

“But I was told only 10 minutes will be allowed to each CM. On that, if we speak beyond the allotted 10 minutes then a bell would ring. I began my speech and as the 10 minutes were up, they rang a bell. It was a big humiliation,” she said.

 

The Tamil Nadu chief minister said there had been many occasions where the chief ministers were allowed to speak for 25 to 35 minutes.

 

“To show my protest, I have walked out of the NDC meeting because the plan document itself is so lengthy and encompasses so many subjects... Just by allowing 10 minutes and humiliating us in this way, they need not have to call us all the way to Delhi to participate in this meeting,” she said.

 

“It stifled the voice of the chief ministers who are in the opposition,” she said.

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