The market came off higher level in afternoon trade following weakopening of European markets. European shares slipped early as BNPParibas suspended redemptions from three funds citing problems in USsubprime mortgages. The news came just at a time when worries aboutglobal credit problems arising from US subprime mortgatge woes appearedto be easing.
ICICI Bank was up 1.9% to Rs 901, off the day's high of Rs 919.80.ICICI Bank said on Tuesday, 7 August 2007, it had reduced its interestrates on deposits by 25-50 basis points from Thursday, 9 August 2007.The new rates will be on select maturities of up to two years and ondeposits up to Rs 15 lakh
The banking sector is expected to benefit from tighter overseasborrowing norms announced by the government on Tuesday, 7 August 2007,as companies looking to raise money abroad now have to turn to domesticbanks for credit.
ICICI Bank was up 1.9% to Rs 901, off the day's high of Rs 919.80.ICICI Bank said on Tuesday, 7 August 2007, it had reduced its interestrates on deposits by 25-50 basis points from Thursday, 9 August 2007.The new rates will be on select maturities of up to two years and ondeposits up to Rs 15 lakh
The banking sector is expected to benefit from tighter overseasborrowing norms announced by the government on Tuesday, 7 August 2007,as companies looking to raise money abroad now have to turn to domesticbanks for credit.
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