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SIDBI
lowers rates on capital gains bonds
Mumbai: Small Industries Development Bank of India
(SIDBI) has lowered the interest rates on its capital
gains bonds by 50 basis points to 5.75 per cent effective
from January 1.
SIDBI had launched an on-tap issue of capital gain bonds
on private placement basis on
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IDBI,
IFCI packages ready; banks, FIs to take a big hit
The Finance Ministry has finalised the restructuring package
for IDBI and IFCI. As per the plan, banks and financial
institutions will take a big hit as they are the stakeholders
in both the institutions.
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Corporation
Bank revises deposit rates
Mangalore: Corporation Bank has revised the rate
of interest on domestic and NRE term deposits from January
1.
For
the maturity band between 7 days and 14 days the rate
of interest will henceforth be 4 per cent while for a
period of 15 days to 29 days it will be 4.5 per cent.
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Syndicate
Bank's new deposit scheme
Mumbai: Syndicate Bank has launched the resident
foreign currency (domestic) deposits scheme, for its resident
Indian customers.
As
per the scheme, resident Indians can now open accounts
in dollars, pounds and euro and credit the proceeds of
foreign exchange acquired in the form of currency notes,
bank notes and travellers cheques, said a press release.
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i-flex
to target US community banks
Bangalore: I-flex Solutions Ltd, a financial software
services and products company, is in talks with IT majors
such as IBM, EDS and CSC to offer its flagship banking
product Flexcube on an application service provider (ASP)
platform to community banks in the US, the Caribbean and
Latin America.
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