State Bank, IDBI, IFCI cut lending rates
The State Bank of India (SBI) on Monday cut its prime lending rate (PLR) by 75 basis points. Term-lending institutions Industrial Development Bank of India (IBDI) and Industrial Finance Corporation of India (IFCI) also slashed their PLR by one percentage point.

ICICI Bank plans to shift focus from takeovers to growth
In a change of strategy, ICICI Bank has decided to shift focus from `acquisitions' to `organic growth'. The bank which raised $175 million last week through an ADS issue has told FIIs that it wants to grow organically and not too keen on acquisitions unless it helps the bank's valuation rise substantially.

Dividend strippers, watch your step! Here comes the taxman
The Central Board of Direct Taxes (CBDT) may have a surprise in store for corporate assessees as well as banks and financial institutions.


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