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SBI incentivizes home loan referral
Posted on 27th June 2015
MUMBAI: State Bank of India (SBI) is looking at new ways to improve productivity in the bank through a change in HR policy. The changes include providing incentive scheme for its employees for referring home loans to the bank. Employees have a chance of getting gift cards worth Rs 16,000 and travel abroad.

Another change is the introduction of 'choreographed branches' where employees will be moved to man counters in the first and last week of the month when there is a surge in branch transactions. The third major change is a new performance management system which has a system-based appraisal.

Tata, Reliance and Mahavitaran hike power tariff in Mumbai
Posted on 27th June 2015
Mumbai: The Mumbai electricity regulatory authority has allowed three utilities Tata Power, Reliance Infrastructure and Mahavitaran to increase their tariff with effect from this month.

Maharashtra Electricity Regulatory Commission (MERC) has approved an increase in tariff of 2.44% for Mahavitaran, while 5.2% and 3.92% for Reliance Infrastructure and Tata Power (TPC), respectively.

Hyundai showcases new SUV Creta
Posted on 27th June 2015
Hyundai Motor India Ltd (HMIL) today unveiled its new Made-in-India SUV Creta at its facility in Sriperumbudur, near Chennai.

The SUV comes with a “fluidic sculpture 2.0” design. The variants include a petrol 1.6 Dual VTVT and U2 1.4 CRDi and U2 1.6 CRDi VGT diesel engines.

Axis Bank cuts base rate to by 10 bps to 9.85%
Posted on 27th June 2015
Axis Bank, the country’s third largest private sector lender, has cut its base rate by 10 basis points (bps) to 9.85 per cent. The new rates will be effective from June 30. Base rate is the benchmark rate to which all rates are linked.

In April, Axis Bank had cut the base rate by 20 bps from 10.15 per cent to 9.95 per cent. Prior to this, the lender had reduced its base rate by another 10 bps last October.

HDFC Bank for step-up in public investment
Posted on 27th June 2015
HDFC Bank has projected India's gross value added (GVA) to grow by 7.8 per cent in 2015-16 if the monsoon rain is better than projected by the weather department. And, 7.2 per cent if it is as scanty as predicted.

The GVA rose 7.2 per cent in 2014-15 and 6.6 per cent in 2013-14. It is not the same as gross domestic product (GDP). GDP is GVA plus indirect taxes.

IRCTC to install 5 more servers to strengthen ticketing system
Posted on 26th June 2015
The Indian Railway Catering and Tourism Corporation will install five high-capacity servers, imported from Singapore, to speed up its e-ticketing operations.

The initiative to import five new servers from Singapore comes close on the heels of introduction of two new high-speed servers by IRCTC to Passenger Reservation System (PRS) earlier this month, which have doubled the peak-time efficiency for booking tatkal tickets at the railways’ ticketing website.

Ashok Leyland's LCV 'Dost' crosses 1 lakh sales milestone
Posted on 26th June 2015
NEW DELHI: Hinduja Group's flagship company Ashok Leyland today said its light commercial vehicle (LCV) 'Dost' has crossed one lakh sales mark.

In less than three years since Ashok Leyland and Nissan formed a joint venture to manufacture LCVs, the company has rolled out the 1,00,000th unit of Dost, Chennai-based Ashok Leyland said in a statement.

Sony launches Xperia Z3+ in India for Rs 55,990
Posted on 26th June 2015
Sony unveiled the much awaited Xperia Z3+ for a price tag of Rs 55,990/- on Frday at an interactive session in New Delhi.

Taro Yamamoto, Head of Experia Business at Sony India reminded the audience of the success of Z3 and announced that Z3+ offers excellence in camera, audio and display. Lighter, slimmer and faster, the Z3+ is just 6.9 mm in width. Water proof and shock resistant, Yamamoto claimed the Z3+ can survive up to two days without charging.

Axis Bank cuts base rate to by 10 bps to 9.85%
Posted on 26th June 2015
Axis Bank-country’s third largest private sector lender-has cut base rate by ten basis points to 9.85%. The new rates will be effective from June 30th. Base rate is the benchmark rate to which all rates are linked.

Earlier, in April, Axis Bank had cut base rate by 20 basis points from 10.15% to 9.95%. Prior to this, the lender had reduced its base rate by another ten basis points in October last year.

Sebi to pass final order on RIL case soon
Posted on 26th June 2015
The Securities and Exchange Board of India (Sebi) has concluded its final hearing in the matter of Reliance Industries and Reliance Petroleum merger, sources have said.

In the matter spanning for eight years the regulator would look to pass a final order in the matter under the charges of Fraudulent and Unfair Trade Practices (FUTP).

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