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Drumbeat: Ad Buzzaar
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Monday, May 25, 1998
Financial Briefing
FE NEWS SERVICE
Deposit mopup bar on National Dwellings: National Housing Bank has prohibited National Dwellings of India Ltd of Pondicherry from accepting or renewing public deposits. The company has also been directed not to withdraw any amount from its accounts with various banks, or in the event of sale of investments and/or fixed or any other assets or realisation of loans and advances, not to utilise the proceeds thereof except for the purpose of payment of the dues to the depositors.Dena Bank offers new scheme: Dena Bank has launched Dena Freedom Deposit Scheme. The scheme has an inbuilt facility of overdraft up to 90 per cent of the principal amount of the deposit and the minimum deposit amount is Rs 10,000. ANZ Grindlays cuts rates on home loans: ANZ Grindlays Bank has reduced the interest rates on home loans with effect from May 22. The reduction is as high as 1.5 per cent in the Rs 2.1-5 lakh range. The revised rates are 15.50 per cent (17 per cent) for Rs 2.1-5 lakh and 16 per cent (17per cent) for Rs 5-10 lakh, a bank release said. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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