Central Bank cuts home loan rates
Central Bank of India has cut interest rates on housing loans by 0.5 to 1.5 per cent on three loan slabs, effective May 31. The bank has reduced interest rate for the over Rs two lakh to Rs five lakh loan slab from 13 per cent to 12.5 per cent, a bank release said on Thursday. Interest rate on the over Rs 5 lakh to Rs 10 lakh slab has been cut from 14 per cent to 12.5 per cent. For over Rs 10 lakhs to Rs 25 lakh, the rate is 13 per cent.Corp Bank ED to co-ordinate affairs
The finance ministry has asked Corporation Bank executive director NS Gujral to co-ordinate the day-to-day affairs of the bank, following the retirement of RS Hugar, who retired on May 31 as CMD.
Aibea secretary flays Andhra Bank
General Secretary of All-IndiaBank Employees Association (AIBEA) Tarakeshwar Chakraborti has criticised the "indiscriminate" transfers of over 1,000 employees of Andhra Bank and suggested that the management adopt a conciliatory approach to resolve the tangle.
Crisil reaffirms Fenner India FD rating
Crisil has reaffirmed the `FAAplus' rating assigned to the fixed deposit of Fenner India Ltd and the P1 Plus rating assigned to the Rs 25-crore commercial paper . The rating reaaffirmation reflects the diversified business profile of Fenner, its strong market position in its main product line like V-belts, oil seals and conveyor belting and the stable financials of the company, a Crisil statement said on Thursday.
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