Top headlines: SBI's MCLR rate cut, Lodha India's richest realtor and more
This is the eighth cut in MCLR in this financial year and follows a 5 bps reduction last month
by BS Web TeamSBI cuts MCLR rate by 10 bps for one-year loan, deposit rates unchanged
The country’s largest lender, State Bank of India, has cut its marginal cost of fund-based lending rate (MCLR) by 10 basis points for loans with a one-year tenure to 7.9 per cent, effective December 10. Read more
M P Lodha India's richest real estate entrepreneur with wealth of Rs 32,000 cr: Report
Lodha Developers' M P Lodha and family has been named India's richest real estate entrepreneur with a wealth of Rs 31,960 crore followed by DLF's Rajiv Singh and Embassy group founder Jitendra Virwani in the second and third position respectively, according to a report. Read more
Yes Bank likely to reject $1.2 bn offer from Canadian tycoon Erwin Braich
Yes Bank Ltd. is likely to reject an offer that made up more than half of its planned $2 billion capital raising, and is talking to institutional investors about making up the shortfall, according to a person familiar with the matter. Read more
Jaguar Land Rover Retail Sales Down 3.4% In November: Tata Motors
Tata Motors-owned Jaguar Land Rover (JLR) on Monday reported 3.4 per cent decline in total retail sales at 46,542 units in November as compared to the year-ago period. Read more
BJP Retains Karnataka, Set To Win 12 Bypoll Seats Under CM Yeddiyurappa
The ruling BJP on Monday retained majority in the Karnataka Assembly when it bagged six seats in the byelections in which it was also leading in an equal number in other segments where counting is underway. The BJP's good show in 12 seats comes as a morale booster for the saffron party after it's setback in Maharashtra. Read more