AllBank revises rates

Calcutta, April 10: Allahabad Bank today announced that it has revised interest rates on domestic term deposits with effect from April 11. According to the new rates, a 3 per cent interest has been fixed for a minimum deposit of Rs 1 lakh for seven to 14 days, the bank said. Interest for term deposits for 15 to 29 days has been fixed at 4 per cent, while a 4.25 per cent interest has been fixed for deposits between 30 to 45 days. For deposits between 46 and 60 days, the interest rate will be 4.25 per cent and for 61 and 90 days, it will be 4.75 per cent. Deposits from 91 to 180 days will yield a 4.75 per cent interest, while a 5 per cent interest will be paid on deposits from 181 to less than one year. Term deposits from one year to less than two years will now yield 5.50 per cent interest and for two years to 10 years, the interest will be 6 per cent.

OBC offer

New Delhi, April 10: Oriental Bank of Commerce (OBC) will hit the market with its second public offer from April 25 to 29 for raising up to Rs 1,700 crore. The bank will put 5.8 crore shares on the block. The offer price will be decided through a book-building process.

Dabhol supply

Mumbai, April 10: The government has set up a three-member committee headed by Gail chairman Proshanto Banerjee to tie up the supply of liquefied natural gas for the Dabhol power project. The panel is planning to source it from Abu Dhabi Gas Spa and Oman LNG LCC by mid-2006.

Petronet order

New Delhi, April 10: Six major shipping lines, including Mitsui, Exmar, Qatar Shipping and Essar, are in fray for the supply of three LNG tankers for Petronet LNG Ltd.