Progress Software launches market surveillance and monitoring solution

US-based Progress Software Corp said it launched its market surveillance and monitoring solution accelerator product in India which can do the job on a real time basis.

The market surveillance and monitoring solution accelerator enables financial institutions, exchanges and market regulators to detect patterns of abusive or erroneous trading activity and take corrective action to prevent trading fraud and abuse in real-time, it said in a release.

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ICICI Bank shareholders approve merger of Bank of Rajasthan

IClCl Bank Ltd said its shareholders approved the merger of Bank of Rajasthan with itself in an extraordinary general meeting held on 21st June.

The amalgamation is subject to the approval of Reserve Bank of India (RBI) and such other approvals as may be required. The share exchange ratio has been fixed at 25 equity shares of ICICI Bank for every 118 equity shares of Bank of Rajasthan, the lender said in a regulatory filing.

On Tuesday, ICICI shares ended 0.9% down at Rs893 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.7% down at 17,749 points.

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GM India introduces the cashless ownership offer for all models

General Motors India said it introduced a cashless ownership offer on all of its Chevrolet range of vehicles, to enable customers to own a Chevrolet in the most affordable way.

As part of the Chevrolet cashless ownership offer, the customer will only have to pay one-time subsidised amount to avail free maintenance and service of his car for the next three years or 45,000 km, whichever is earlier, to ensure low ownership and maintenance cost, GM India said in a release.

This offer will cover all the periodic maintenance services and running repairs. In case the cost exceeds the maximum maintenance expense for three years outlined for each model, Chevrolet promises a full refund of the differential, it added.

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