Share transfer timeline

New Delhi, July 5: In a move to expedite the transfer process of equity shares, capitals market regulator the Securities and Exchange Board of India (Sebi) has reduced the timeline for registration of transfer of shares to 15 days from the existing one month. It also decided to reduce the time period for the transfer of debt securities to 15 days.

FCCB scheme

Mumbai, July 5: The RBI today extended the scheme for corporate houses to get rid of their overseas loans by pre-paying them. The pre-payment of foreign currency convertible bonds (FCCBs) will come into effect immediately and the process of buyback shall be completed before March 31, 2013.

Bank rates

New Delhi, July 5: The Bank of India today slashed interest rate on fixed deposits by 0.25 per cent on select maturities, while the Union Bank has announced reduction in rate for farm loans by up to 1.75 per cent.

Govt borrowing

Chennai, July 5: Department of economic affairs secretary R. Gopalan today said there was some room to cut government borrowing. The government plans to borrow Rs 5.13 lakh crore to meet the 2012-13 fiscal deficit.

Birla buy

New Delhi, July 5: Aditya Birla group is acquiring Terrace Bay Pulp Inc, a North American paper grade pulp firm, for $110 million (over Rs 600 crore).