Union Bank of India on December 10 said it has cut one-year MCLR rate to 8.20 per cent, down 0.05 percentage point. Union Bank of India has reduced marginal cost of funds-based lending rate (MCLR) by 5-10 basis points (bps) across all tenors, it said in a release.One-year MCLR now stands at 8.20 per cent, down from 8.25 per cent, the public sector bank said.Overnight MCLR has been reduced by 10 bps to 7.75 per cent.Close The one-month to six-month tenor MCLRs have been cut in the range of 7.80 to 8.05 per cent, it said. related news Customers of Union Bank of India's Juhu branch hit by fraud ATM withdrawals: Report Reliance Industries ROCE could rise to 11% in 2 years: Morgan Stanley Revised MCLR rates will be effective from December 11, the bank said.The Reserve Bank in its bi-monthly monetary policy review last week had kept the key repo rate unchanged at 5.15 per cent.Following this, several public sector banks including the largest lender SBI, followed by Bank of … [Read more...] about Union Bank of India cuts MCLR by 5-10 bps; benchmark one-yr rate comes down to 8.20%
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Even as reports hinted that Yes Bank would reject Canadian industrialist Erwin Singh Braich's $1.2 billion bid in favour of institutional investors, Bloomberg has reported that Briach's claims may be under question.The offer from Braich and Hong Kong-based SPGP Holdings had been expected to make up a bulk of Yes Bank's $2 billion fundraising plans but was clouded by concerns over certain foreign bidders being disallowed to acquire a stake in the bank by the Reserve Bank of India (RBI).It has now emerged that Braich is allegedly involved in numerous lawsuits with creditors and family members.Close Moneycontrol could not independently verify the report. related news Anti-diabetes drug Vildgliptin to become 80% cheaper Hyundai to increase vehicle prices from January Aditya Birla Fashion gets board nod for appointment of Himanshu Kapania as Vice Chairman Braich told Bloomberg he had the funds and had been "under the radar" with "a lot of different holdings and assets” that … [Read more...] about Yes Bank bidder Erwin Singh Braich has history of bankruptcy, questionable business deals: Report
Women are losing ground in the C-suite. The newest S&P Capital IQ found that only 21 women held the top job among S&P 500 companies. This is down from 25 in 2014. advertisement advertisement The report is a result of analysis of CEOs running S&P 500 companies between 2006 to 2015. Where multiple CEOs existed for a company, the longest serving would be counted. Overall, the study is not only a good indication of trends because of the length of time examined, but it’s an important measure, as this group of companies accounts for about 75% of the U.S. equity market by capitalization. Taken together with some other recent studies, the gender diversity picture is still starkly off balance. For example, McKinsey and LeanIn.org found that we are more than 100 years away from seeing women occupy the C-suite in half of the major businesses in the U.S. Although more than 50 years have passed since the Equal Pay Act was signed into law, one estimate from the Institute … [Read more...] about Bad News: The Gender Gap Is Widening In The C-Suite At Major Public Companies
Gen X women are the “forgotten middle child” in the workplace, sandwiched between the baby boomers and millennials. Each is twice as large as the gen X workforce, and often twice as vocal about their achievements. advertisement advertisement According to data from the Development Dimensions International and The Conference Board’s Global Leadership Forecast, millennial women show a greater understanding of their future career path as leaders within their organization compared to gen X women. Millennial women leaders are also more likely than their gen X peers to indicate that they are advancing in their careers at an acceptable rate, according to the report. “Gen X women are caught in a ‘no woman’s land’ in the workplace,” says Tacy M. Byham, PhD, CEO of Development Dimensions International, a global leadership consultancy. It’s no surprise that gen X women feel squeezed between two generations. There were only 45 million … [Read more...] about Are Gen X Women Being Squeezed Out Of The Workplace?
The rupee pared initial losses and settled 16 paise up at 71.04 against the US dollar on December 9 amid softening crude oil prices and weakening of the greenback vis-a-vis other currencies overseas.Fresh foreign fund inflows and positive developments on the US-China trade front also propped up the local unit, forex traders said.At the interbank foreign exchange market, the rupee opened at 71.24 against the US dollar. During the day, the domestic unit fluctuated between a high of 71.02 and a low of 71.27 and finally ended the day at 71.04 against the US dollar.Close On Friday, the rupee had settled at 71.20. related news Sterlite Technologies, IIT Madras sign pact for 5G advancement Issue of non-payment of salaries to HPCL employees raised in Rajya Sabha AGR imbroglio | DoT asks telcos to pay dues on time, clear doubts by Dec 13: Report "The strength in Asian peers also supported rupee gains. Asian currencies rose as concern about trade tensions eased, with President Donald … [Read more...] about Rupee darts up 16 paise to 71.04 against USD