The Telegraph
Since 1st March, 1999
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Business Briefs

Birla Home unveils loan plan

New Delhi, Nov. 20: Birla Home Finance today launched the Easy Home Loan Deposit Scheme. As per the scheme an individual is initially required to save on a monthly/quarterly basis for a period of three to five years at 5 per cent rate of interest. After completing this period he will be able to avail a loan, equivalent to the saved amount at 7 per cent rate of interest. However, he will have to fork out 1 per cent of the loan amount as part of administration fee.

Escorts stake

New Delhi, Nov. 20: Escorts Limited today said it has signed an agreement to sell its 40 per cent equity in Escorts JCB to UK-based J. C. Bamford Excavators Limited.

Canara Bank

Bangalore, Nov. 20: Canara Bank has slashed its interest rates on housing loans ranging from 25 basis points to 100 basis points over the rates that prevailed prior to the announcement of the recent monetary policy.

Lafarge move

Calcutta, Nov. 20: French cement major, Lafarge, is planning to invest around Rs 110 crore in West Bengal to set up its first greenfield unit in the country.

Dabhol revival

New Delhi, Nov. 20: National Thermal Power Corporation has agreed to operate the 740-MW Phase-I of the Dabhol power project, power minister Anant Geete said in the Rajya Sabha today.

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