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Business Briefs

Senior citizen scheme

Mumbai, Dec. 18: The Reserve Bank today clarified that in case of pre-mature withdrawal under the Senior Citizens Savings Scheme, 2004, penalty amount has to be deducted from the principal amount. However, interest at 9 per cent will have to be calculated on the total deposit till the date of premature closure.

Cement offer

Mumbai, Dec. 18: In a temporary relief to German cement firm Heidelberg, the Securities Appellate Tribunal has allowed the company to go ahead with its open offer for Mysore Cements at Rs 58 per share, lower than the price ordered by Sebi.

Bank bill

New Delhi, Dec. 18: The government today introduced a bill in the Lok Sabha to enable the State Bank of India to increase its capital by issuing fresh shares. The bill seeks to enhance the authorised capital of the bank to Rs 5,000 crore.

Nalco plan

Calcutta, Dec. 18: Nalco today said Indonesia was the top choice for its overseas foray for an aluminium project at an investment of around Rs 14,000 crore.

Zee shares

Mumbai, Dec. 18: Zee Entertainment Enterprises today began trading on the bourses, gaining 20 per cent in the intra-day trade. Shares of the company settled at Rs 272.40 on the BSE.


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