SBI credit card JVs by JulyMUMBAI: State Bank of India (SBI) will begin its credit card operations on July 1 by floating two joint ventures with GE Capital. The largest financial intermediary in the country will sign a joint venture agreement with GE Caps in the last week of January. "We will float two subsidiaries with GE Caps. One will focus on marketing and distribution of cards, while the second will concentrate on processing and credit appraisal of clients," a State Bank official said.
Syndicate Bank hikes deposit rates
MUMBAI: Syndicate Bank has hiked its deposit rates with effect from January 15, 1998. The bank had earlier announced a revision in deposit rates with effect from December 22, 1997. While the interest rate on deposits of over one year to three years remains unchanged, term-deposits of over three years will now fetch 11.5 per cent against 11 per cent earlier. The interest rate on deposits of 46-90 days, 91-179 and 180 days to one year has also been raised by
0.5%.
BoI too hikes rates
MUMBAI: Bank of India has increased its rates on domestic term deposits effective form Monday. The revised rates of interest on domestic term doposits are: for 30 days to 60 days is 6 per cent 61-179 days 7%, 180-one year 80%, over one year and up to 2 years is 10 per cent, over 2 years and upto 3 years 10.50% and over 3 years 11%.
Tisco MD felicitated
MUMBAI: Tata Iron & Steel Co managing director J J Irani was felicitated by the Indian Institute of Metals in Mumbai on Thursday for receiving the honorary knighthood late last year. The Knight of British Empire was conferred to Irani in October last year.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
