Business Short News

ICICI Bank, the country's second largest private lender, has increased bank fixed deposit rate by 10-20 bps across tenure. The revision has been made for single deposits of less than Rs. 20 million or Rs. 2 crore. The new and hiked interest rate come into effect from today i.e. May 16, 2022. The interest rate revision has been made for bank FDs of 290 days to 10 year tenure.

A day after announcing USD 10.5 billion deal to acquire Holcim's India business, the Adani family has made an open offer to acquire a 26 per cent stake each in its two listed companies Ambuja Cements and ACC Ltd from public shareholders. The Asia's richest man Gautam Adani's group on Monday through its Mauritius-based subsidiary Endeavour Trade and Investment, MSME

Medium duration debt funds may be unfamiliar to most debt mutual fund investors. Medium-term funds are required by SEBI to invest in debt and money market securities with a Macaulay duration of three to four years. Liquid funds, ultra short term funds, short term funds, banking & PSU funds, corporate funds, and so on are the most popular choices among investors.

Despite the World Gold Council's projection of a dip in consumer demand for the precious metal this fiscal on the back of rising prices and record imports last fiscal, a foreign brokerage report has suggested that the demand may rise more than generally projected as households may snap up the metal hedge against spiralling inflation. Gold imports rose 33.34 , MSME