ICICI on rate hike

New Delhi, Aug. 19: ICICI Bank managing director and CEO K.V. Kamath did not rule out the possibility of a hike in interest rates in the immediate run. “We cannot say if interest rates have peaked or not. We have to see what happens in the inflation front and what policy steps are taken,” Kamath said when asked about the outlook on interest rates.

Oil India offer

New Delhi, Aug. 19: Oil India may hit the capital market with an initial public offering of 2.64 crore shares in November. Sources said the company would file a revised draft red herring prospectus containing information updated till June 30, 2008.

Spice plan

New Delhi, Aug. 19: Spice Corporation has announced a restructuring plan to consolidate the group’s businesses under four verticals — telecom, entertainment, financial services and IT.

AllBank move

Calcutta, Aug. 19: Allahabad Bank has revised upwards the domestic term deposit rate of up to Rs 1 crore at 10 per cent per annum for a period of over one year and less than two years. The rate is 10.5 per cent for senior citizens.

Salary woe

New Delhi, Aug. 19: Inflationary pressure and economic slowdown will hit the pay packets of employees soon with Indian companies preparing to trim salary hikes in 2009, says a survey by Hewitt Associates.