The Telegraph
Since 1st March, 1999
Email This PagePrint This Page
Business Briefs

Union Bank, BoI cut rates

Mumbai, Oct. 30: Union Bank of India and Bank of India (BoI) have cut their deposit rates by 25 to 50 basis points following the Reserve Bank of India’s decision to reduce the bank rate by 0.25 per cent to 6.25 per cent. The prime lending rate (PLR) of Union Bank is currently at 11 per cent, while cost of deposits in the first half ended September is 6.5 per cent, which is 40 basis points lower than the same period of last year. Bank of Rajasthan managing director K. M. Bhattacharya said the asset liability committee of the bank will meet next week to take a decision on both, deposit rate and PLR, which is currently pegged at 13.5 per cent

Tax returns

New Delhi, Oct. 30: The government today extended the last date for filing income tax returns to March 31, 2003 from the earlier deadline of October 31, 2002, for a section of taxpayers. The new date is applicable for persons required to file returns in terms of “first proviso” to sub-section (1) of section 139 of Income Tax Act.

Crude prices

New Delhi, Oct. 30: Opec today rejected India’s plea for concessional crude oil pricing on the ground that it operated on market forces. However, it admitted that current prices carried a war premium of $ 5-6 a barrel.

Software surge

New Delhi, Oct. 30: Computer software and services exports surged by 25 per cent during April-September of the current fiscal to Rs 20,500 crore against Rs 16,500 crore during the same period last year.

Email This PagePrint This Page