The Telegraph
Since 1st March, 1999
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Business Briefs

SBI raises deposit rates

Mumbai, March 31: The State Bank of India (SBI) has increased interest rates on short-term deposits by 0.25 per cent. The rate payable to deposits of maturity seven to 14 days has increased to 4.25 per cent (4 per cent earlier) with effect from March 27. In case of deposits of tenor 15 to 45 days, the revised interest is 4.5 per cent (4.25 per cent).

GDP growth

New Delhi, March 31: A negative growth in the agriculture sector wiped out the gain in other sectors. The GDP growth plummeted to 2.6 per cent during the third quarter of the current fiscal from 6.3 per cent during October-December 2001.

Fiscal deficit

New Delhi, March 31: The Centre’s fiscal deficit amounted to Rs 1,14,993 crore during the first 11 months of this fiscal, which is 79.1 per cent of the revised estimates for this fiscal. The fiscal deficit during April-February works out to 4.7 per cent of the GDP. It was contained mainly due to improvement in tax collections and control in expenditure by the government.

SAIL move

New Delhi, March 31: The SAIL board today finalised strategies to expand its mining activities to increase iron ore supplies to the integrated steel plants at Bhilai, Durgapur and Rourkela.

CSE scam

Calcutta, March 31: The Madras High Court quashed a writ filed by Dinesh Dalmia, promoter of the DSQ group of companies, challenging the Calcutta Police’s investigation of the payment crisis at the Calcutta Stock Exchange (CSE).

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