SBI will offer Nissan consumers easy financing options with an interest rate up to 100 basis points lower than the current market rate
Nissan Motor India Pvt Ltd has announced its strategic tie-up with the State of Bank of India (SBI) to reach out to prospective customers across the regions with easy finance options. Under the agreement, SBI will currently offer Nissan consumers easy financing options with an interest rate up to 100 basis points lower than the current market rate. SBI will offer Auto loans to Nissan customers at a rate of 11.25% (floating) and 11.75% (fixed), which are 75 to 100 basis points lower than the market offering of other banks.
Chief general manager- SME of SBI, Manas Kumar Nag said, “Through this partnership, SBI offers Nissan dealers a web based platform, which is capable of being fully integrated with the corporate enterprise resource planning (ERP) system and provide real-time online transfer of funds.”
In addition to the retail financing, the bank has also offered dealer funding which will also cover real time invoice presentation and payment through a secured electronic platform certified by VeriSign. It also offers integration of dealer networks with SBI’s transaction network on real-time basis.
Speaking on the development, BSE managing director and CEO Madhu Kannan said, “BSE’s efforts over the last couple of years in the derivatives segment are paying off indicated by the widespread participation. More than 350 members have registered for LEIPS with over 120 members participating in the trading daily”
Mumbai: The Bombay Stock Exchange’s (BSE) Futures & Options (F&O) turnover hit a high of Rs1,600.10 crore no Thursday, reports PTI.
The previous highest volumes in the premier stock exchange’s derivative segment was Rs1,509.80 crore on 13 February 2008, a BSE statement said here.
Derivatives volumes on the Sensex (India’s bellwether index traded on BSE) have also shown steady growth in volumes since the launch of the incentive programme, it said.
Sensex Futures & Options also touched a record high of turnover volume of Rs1,535.40 crore yesterday. In the Index Futures segment, Sensex Futures already has a daily market share of 6%-8%.
In line with the framework prescribed by the Securities and Exchange Board of India (SEBI) and global best practices, BSE in September rolled out LEIPS (Liquidity Enhancement Incentives Programmes) initiative. The programme is aimed to stimulate broad based participation and help BSE become an advanced, more liquid and inclusive marketplace.
Following the successful completion of LEIPS Phase-I, BSE had launched LEIPS Phase-II on 26th October.
Speaking on the development, BSE managing director and CEO Madhu Kannan said, “BSE’s efforts over the last couple of years in the derivatives segment are paying off indicated by the widespread participation. More than 350 members have registered for LEIPS with over 120 members participating in the trading daily.”
BSE F&O turnover has steadily increased since its launch and this has helped BSE increase the market share in the derivatives segment, he added.
The Bombay Stock Exchange on Thursday said that it has decided to suspend trading in shares of 22 companies for varying periods, due to their non-compliance to the listing agreement clauses
Mumbai: The Bombay Stock Exchange (BSE) on Thursday said that it has decided to suspend trading in shares of 22 companies for varying periods, due to their non-compliance to the listing agreement clauses, reports PTI.
A company listed on a stock exchange is required to comply with various clauses of the listing agreement, failing which trading in securities of such defaulting companies is liable for suspension.
The BSE said in a statement that it would suspend 15 companies, with effect from 19th December, which have failed to comply with various provisions of the listing agreement up to quarters ended December 2010 and March 2011.
The 15 companies are Artillegence Bio Innovations, Baffin Engineering Projects, Betala Global Securities, CG Impex, Ficon Lease & Finance, Hanjer Fibres, IQ Infotech, Jhagadia Copper, Metalman Industries, MH Mills & Industries, Netvista Information Technology, Prashant India, Raghav Industries, Rose Zinc and Shukun Construction.
If any of these companies comply with all the provisions of the listing agreement on or before 8th December, trading in securities of the company will be suspended for five trading days, or up to 23rd December.
In case a company complies with all the provisions of the agreement on or before 2 January 2012, trading would be suspended for 30 days or up to 17th January.
However, in case the company fails to comply with the provisions of the agreement, to the satisfaction of the exchange on or before 2nd January, the suspension would continue till such time the company complies with the procedure prescribed for revoking suspension in a scrip, the BSE said.
In addition, the BSE said that trading in the securities of seven firms, including Alfavision Overseas India and Ascent Exim India would be suspended for five trading days from 25th November to 1st December on account of late compliance with the provisions of the listing agreement.
The other companies facing five-day suspension include Brindaban Holdings & Trading, Enrich Industries, Mukesh Strips, Richirich Inventures and Shree Rajiv Lochan Oil Extraction.