BoB revises interest ratesMUMBAI -- Bank of Baroda has revised the interest rates on customer-based deposits including NRE and NR(NR) deposits with effect from February 23. The bank is now offering 7 per cent interest on deposits of 30 to 45 days, 9.50 per cent on 46 to 179 days, 10 per cent on 180 days upto one year, 11 per cent on deposits of over one year to two years and 12 per cent interest on deposits of over two years.
The interest rates on NRE deposits have been revised to 10.50 per cent, 11.50 per cent, and 12.50 per cent for six months to one year, over one year to two years and over two years to three years' maturity bands respectively. The interst rates on NR(NR) deposits have been revised to 11 per cent, 12 per cent and 13 per cent for the same periods.
Aarvi Encon
MUMBAI -- Aarvi Encon Pvt Ltd (AEPL), Mumbai, has been awarded second prize for their project on "Total Execution of 3000 MT/Year Plant" manufactuing aluminium complex grease and G-92 (titanium grease) based onknowhow developed by Indian Oil Coporation's R & D centre, located at Faridabad. AEPL is an integrated engineering firm offering services to various chemicals industries in the field of process development, project management, basic engineering, detailed engineering, inspection and construction supervision.
I-T returns
MUMBAI -- The Income-Tax Department has announced that the last date for filing returns -- which was due on February 28 -- has been extended to March 2 since the I-T department will remain closed on February 28.
M&M Armada
MUMBAI -- Mahindra & Mahindra has launched Mahindra Armada 1998. The new Armada comes with a new steering box and linkages which give better steering response and ease of turning. The entire suspension has been redesigned to giv. Radial tyres have been fitted for greater stability and the fuel tank capacity has been increased to 60 litres.
Pentafour
MUMBAI -- Pentafour Software & Exports has achieved a gross turnover of Rs 196.22 crore for thenine months ended December 1997, representing a growth of 62.88 per cent over the corresponding period last year (Rs 120.47 crore). Exports accounted for 95 per cent of the revenues. The net profit has increased by 46.97 per cent to Rs 49.03 crore.
ISO for IEEMA
MUMBAI -- Indian Electrical & Electronics Manufacturers Association (IEEMA) has received ISP 9002 certificate from BVQI. IEEMA, which completed 50 years of existence, has become the first industry association to get the ISO certification. ``IEEMA has already created a niche for itself by providing specialised services such as circulation of production statistics, price variation clauses and organisation of Elecrama exhibition,'' said K Vasudevan, president, IEEMA.
NSE warehouse
MUMBAI -- NSE has placed an order with Digital India to augment its existing digital alphaserver 8200 enterprise system to run its data warehouse. The order involves upgrading the alphaserver 8200 system with the highest performance 625 mhz alphaprocessors, Digital Storageworks Enterprise storage array sub-system with nearly 500 gb of disks and digital storageworks tape library based on dlt technology. NSE is eventually likely to have nearly 1 tb of on-line storage.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
