JSW merger meet
Mumbai, Aug. 30: The boards of JSW Steel and its subsidiary JSW Ispat will meet on Saturday to decide on the merger of the two firms. JSW Steel had acquired a 41 per cent stake in debt-ridden Ispat Industries in December 2010 for about Rs 2,157 crore and subsequently renamed it JSW Ispat.
New York, Aug. 30: RBI governor D. Subbarao has hit back at those who criticised his hawkish stance against rate cut by saying a little sacrifice in growth is inevitable to tame inflation. Speaking at the Asia Society, he parried a question on whether there will be a change in interest rates when the RBI reviews its policy on September 17.
Mangalore, Aug. 30: Corporation Bank has decided to slash interest rates on home, car and educational loans with effect from September 1 for a three-month period. The bank has waived off the processing fee for these loans. Interest rates for Corp Home housing loan for up to Rs 50 lakh will be 10.50 per cent.
New Delhi, Aug. 30: The Supreme Court today refused to stay the governmentís order increasing royalty charges from private airlines for ground handling.
Calcutta, Aug. 30: Peerless General Finance & Investment has sought the RBIís permission to enter the lending business through a separate subsidiary. Peerless has earmarked Rs 50 crore as the initial capital.