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Showing posts from April, 2017

IDBI Bank revises Deposit Rates

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IDBI Bank has reduced the interest rates on Retail Term Deposit (RTD) by 50 bps for the maturity bucket ‘31 days upto 2 year’ and by 75 bps under all maturity buckets from ‘above 2 years onwards upto 20 years’.
The mark-up for Senior Citizens at 50 bps over the Card rate would be available for deposits of maturity of 1 year and above. The revision is effective April 5, 2017.

Secondary steel producers play a key role

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The Minister of Steel Chaudhary Birender Singh speaking at the National Conference on Secondary Steel Producers said, “We intend to adopt the ‘Melt & Manufacture’ Model of USA for increasing steel production capacity. Worldwide, mini-mills are becoming popular and we want to establish such plants and mills in India. This is cost-effective, environment-friendly and energy efficient.”  Outlining the strategic roadmap for steel industry, Shri Birender Singh said acronym PRIDE is our guiding motto, where
•        P is for production and productivity,
•        R is for Research & Development,
•        I is for Indian-made Steel,
•        D is for demand increase and
•        E is for Excellence in Quality of steel.
These thrust areas are as important for secondary steel producers, as these are for integrated steel producers. Steel plants in secondary sector have many advantages like less land requirement, lower capital investment, better energy efficiency, proximity to users and less d…