New Delhi, July 6: The 10-week downturn in the inflation rate was cut by violent monsoon storms in the week ended June 23, as prices of food and some manufactured items rose, pushing the wholesale prices index higher to 4.13 per cent. The inflation rate, which was 4.03 per cent in the previous week, is still below the RBI’s tolerance level of 5 per cent for this fiscal.
Mumbai, July 6: ICICI Bank has reduced its floating interest rate on new home loans of up to Rs 20 lakh by half a per cent. The new rate will be 11.5 per cent, an ICICI Bank spokesperson said here today. This has been done as loans below Rs 20 lakh come under the priority sector.
New Delhi, July 6: BSNL today requested its employees’ union to postpone its strike on July 11. The union was protesting against a delay in BSNL’s expansion plans for its GSM network. “We are taking steps to expand the network. They (unions) should take care that telecom services are not affected,” BSNL chief A.K. Sinha said.
New Delhi, July 6: IRDA has made it mandatory for life insurers to get its approval before offering new add-on features to policy holders for determining premium.
London, July 6: ArcelorMittal’s former CEO Roland Junck will retire from the board at the end of this month in a shakeup of senior management. His role will be assumed by other board members.
Mumbai, July 6: Mount Everest Mineral Water will allot around 51 lakh equity shares to Tata Tea for up to Rs 71.39 crore in one or more tranches. The company’s shareholders have approved issuing 50,99,396 shares at Rs 140 per share, aggregating up to Rs 71.39 crore.
Mumbai, July 6: Rolta India has acquired Canada-based software and integration company Orion Technology for an undisclosed amount, the company has informed the Bombay Stock Exchange.
