UTI MF launches  UTI Energy Fund

To enable the investors to capture the growth potential of a broad based energy sector, UTI Mutual Fund is renaming the UTI-GSF-Petro to UTI Energy Fund, it announced  in Mumbai on Thursday.

The investment objective of UTI Energy Fund will cover the entire energy sector to capitalize on the emerging opportunities across the sector.

Corp Bank's festive discount 

Corporation Bank announced on Thursday that for the ensuing festive season, it is offering a festival bonanza on CorpHome & CorpMobile Loans from  October 3, 2007 to November 30, 2007.

During this period, it will offer 0.50 per cent interest rate concession across the board and 50 per cent concession in processing charges for fresh loans sanctioned under Corp Home (both with Fixed and Floating rates) and CorpMobile schemes.

Syndicate Bank’s revised rates 

Syndicate Bank has revised the rate of interest on Non-Residential External (NRE) Term Deposits and Foreign Currency Non-Resident (Banks) FCNR(B) deposits with effect from 1st October 2007.

Interest rates on NRE deposits for a period of one year to less than two years have been revised to 4.90 per cent, two years to less than three years to 4.59 per cent and for three to five years to 4.64 per cent.

Crisil, CorpBank to do rating

Rating agency Crisil on Thursday signed a preliminary agreement with Corporation Bank to assess the bank’s clients. The products covered will include Bank Loan Ratings, ratings of small and medium enterprises and small scale industries, Crisil said in a release in New Delhi .The rating will assist Corporation Bank in better calibrating the credit risk on its books.