Reliance Power (RPower) on Saturday, 6 June 2015 said it has signed a Memorandum of Understanding (MoU) with Bangladesh Power Development Board (BPDB) to develop 3,000 megawatts (MW) of liquefied natural gas (LNG) based combined cycle power project in Bangladesh in phases, along with a floating storage and re-gasification unit (FSRU) based LNG terminal to supply re-gasified LNG to the power project.
Kotak Mahindra Bank (KMBL) and ING Bank after market hours on Friday, 5 June 2015, announced signing a Memorandum of Understanding (MOU) where both institutions will cooperate and explore opportunities arising from cross border business, investment and trade flows across Benelux (Belgium, Netherlands and Luxembourg), Western Europe, Eastern Europe, North America, Asia and Australia.
It may be recalled that on 20 November 2014, KMBL and the erstwhile ING Vysya Bank announced the scheme of merger, where both KMBL and ING Vysya Bank expressed intent to explore areas of cooperation in cross-border business.
Oriental Bank of Commerce (OBC) at the fag end of market hours on Friday, 5 June 2015, said it has reduced interest rate on term deposits across various maturities with effect from 8 June 2015. Interest rate on domestic term deposits (including NRO deposits) of less than Rs 1 crore in the maturity bucket of 270 days to less than 1 year was reduced to 7.75% from 8%. Interest rate on domestic term deposits in the maturity bucket of 1 year to less than 2 years was reduced to 8.15% to 8.5%. Interest rate on domestic term deposits in the maturity bucket of 2 years to 10 years was reduced to 7.75% from 8.25%
Bank of Baroda after market hours on Friday, 5 June 2015 said it has decided to reduce the rates of interest payable on term deposits of below Rs 1 crore and Rs 1 crore to Rs 10 crore applicable to the renewable of existing deposits and fresh deposits with effect from 8 June 2015. Interest rate on domestic term deposits of below Rs 1 crore in the maturity bucket of 1 year and upto 5 years was reduced to 8.25% from 8.5%. Interest rate on domestic term deposit of Rs 1 crore in the maturity bucket of above 5 years and upto 10 years was reduced to 8% from 8.25%. Interest rate on bulk deposits of Rs 1 crore to Rs 10 crore in the maturity bucket of 1 year was reduced to 8.25% from 8.35%.
Aurobindo Pharma turns ex-dividend today, 8 June 2015, for interim dividend of Rs 1 per share for the year ended 31 March 2015.
Federal Bank said before market hours that effective 18 June 2015, the applicable base rate will be 9.95%, a reduction of 25 basis points (bps) from prevailing rate of 10.20%.
Neyveli Lignite Corporation said before market hours that Unit-I of NLC Tamil Nadu Power (NTPL), a 1000 megawatts (MW) coal based thermal power plant at Tuticorn has qualified for the commercial operation. NTPL is a joint venture company of NLC (89%) and TANGEDCO (11%). The pre-comissioning activities in Unit II of this plant are nearing completion and this Unit will also be ready for commercial operation during this month.
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