SBM launches ‘Savings Plus’
State Bank of Mysore (SBM) launched ‘Savings Plus’, a new savings bank deposit scheme in Bangalore on Tuesday. The minimum balance in this account is Rs 5000 and any amount above Rs 5000 will be transferred to Fixed Deposit. The depositors can withdraw money by cash, through ATMs, transfer to other accounts and operate the account through internet. The special feature of the deposit is payment of fixed deposit rate of interest on the term deposit balance while providing liquidity at the same time. The scheme is launched at all branches of SBM.
ING Vysya Life’s annual bonus
ING Vysya Life Insurance on Tuesday in Bangalore declared its annual bonus rates for all their policyholders, reports DHNS. The highlights of this year is a return of 9.15 per cent bonus on Best Years’ Retirement Plan. Best Years, is a retirement plan that has capital guarantee provision ensuring protection of investment amount and returns earned thereon.  ING Vysya Life also declared bonus of 7.5 per cent for two of its policies, New Fulfilling Life (Anticipated Whole of Life Plan) and Powering Life (Limited payment endowment plan), that come under simple revisionary bonus category.
Servion teams up with Cisco  
Servion Global Solutions, a specialist in Customer Interaction Management (CIM) space, and Cisco on Tuesday inked a strategic agreement to jointly deliver Internet Protocol (IP) based unified communications solutions to enterprises globally. As a pre-requisite to this strategic relationship, Servion has achieved in quick time, accreditation as a Cisco Advanced Technology Partner (ATP), a certification in unified contact center solutions (UCCE).
Jet’s profits drops 94 pc
Jet Airways on Tuesday announced that it has posted a net profit of Rs 27.94 crore for the year ended March 31, 2007 as compared to Rs 452.04 crore for the year ended March 31, 2006, showing a huge slump of 94 per cent. Total Income has increased from Rs 6,087.57 crore for the year ended March 31, 2006 to Rs 7401.31 crore for the year ended March 31, 2007.
    Jet has posted a net profit of Rs 88.01 crore for the fourth quarter as compared to Rs 227.12 crore for the quarter ended March 31, 2006. Total Income has increased from Rs 1950.19 crore for the quarter ended March 31, 2006 to Rs 1989.03 crore for the quarter ended March 31, 2007.
Honda’s value added insurance
The New India Assurance and Honda Motorcycle & Scooter (HMSI), signed a MoU at Haryana. With this tie-up The New India Assurance Co Ltd, along with two other insurance companies will provide value added insurance services to customers of HMSI through their dealer outlets across India. In the first stage, customers will be able to avail insurance cover for scooters, motorcycles purchased from the outlet.
First Consulting buys Zorch Inc
First Consulting Group announced in Bangalore on Tuesday the acquisition of Zorch, Inc., a Utah based company that has built a proprietary enterprise software solution to provide regulated content management and collaboration for the life sciences industry.
SAIL signs MoU with MOIL 
Steel Authority of India Ltd (SAIL) on Tuesday signed a Memorandum of Understanding with Manganese Ore India Ltd (MOIL) for setting up of a joint venture company to produce ferro-manganese and silico-manganese. SAIL decided to enter into a strategic alliance with MOIL to ensure regular and quality supply of manganese ore at competitive cost. The proposed JVC will initially supply a projected volume of around 31,000 tonnes of ferro-manganese and 70,000 tonnes of silico-manganese.