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SBI gives relief on min a/c balance limit

DNMUM409671 | 3/14/2018 | Author : DNA Money Correspondent | WC :421

Cuts penalty by 75% for not maintaining min balance

Mumbai: State Bank of India (SBI) has slashed its penalties for not maintaining minimum balance for the second time on Tuesday, this time by 75%, but is still higher than its public sector peers.
Following the footsteps of private sector peers, State Bank of India (SBI) in April last year set up high minimum balance requirements and imposed steep penalties on customers who failed to meet these requirements.
SBI has now slashed penalties to Rs 10 to Rs 15 for urban and metro customers who fail to maintain a minimum balance of Rs 3,000 in a month. That is if the shortfall is less than 50% of the requirement, then the penalty is Rs 10, if the shortfall is between 50% up to 75% it is Rs 12 and above 75% shortfall the penalty will be 1
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Centre banking on EU to find ways to buy Iran oil
DNMUM422658 | 9/21/2018 12:00:00 AM | Author : Iftikhar Gilani | WC :269

New Delhi: Even as Chennai Petroleum has decided to stop processing Iranian crude oil from October to keep its insurance coverage, highly placed sources in the government here said that India was exploring a way out with the European Union for an alt
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Combination drugs ban hit to be marginal
DNMUM422663 | 9/21/2018 12:00:00 AM | Author : Edit | WC :231

After the ministry of health and family prohibited manufacture, sale and distribution of 328 fixed dose combination (FDC) drugs last week, the Supreme Court on Monday lifted the ban on four drugs, including Saridon, Piriton and Dart. The order came a
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OMDC settles creditor dues, comes out of NCLT
DNMUM422664 | 9/21/2018 12:00:00 AM | Author : Sumit Moitra | WC :284

Kolkata: Orissa Minerals Development Company (OMDC), a subsidiary of state-owned Rashtriya Ispat Nigam Ltd, has been able to settle dues of creditors.
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Gammon offers to settle terminal debt
DNMUM422665 | 9/21/2018 12:00:00 AM | Author : Ateeq Shaikh | WC :576

Mumbai: Gammon Infrastructure Projects, the developer for Indira Container Terminal Private Ltd at the Mumbai Port Trust, plans to make a one-time settlement of around Rs 477 crore to the lenders if the project goes for re-bidding.
The rebid
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