Raymond plans to double stores

Textile & apparel major Raymond Limited, on Saturday, announced that it will double its retail network of ‘The Raymond Shop’ (TRS) to 50 stores from the present 27 in the next two years in Karnataka, reports DHNS from Bangalore.

Raymond Ltd Retail & FMCG President Aniruddha Deshmukh  said the company will have a network of over 950 stores in the country. Currently, Raymond has more than 430 stores including, The Raymond Shop and exclusive brand outlets, in India, Middle East and South Asia spread across 170 cities.

KLF Nirmal oil hits AP market

KLF Oil Industries on Saturday announced that it has launched coconut oil 50ml, 100ml and 200ml bottles under the brand name Nirmal in Andhra Pradhesh. The company has strong presence in Karnataka and Kerala. Nirmal brand stands at number 3 in India in terms of market share. It has also changed the packaging and logo of its Nirmal brand.

Hotel Leela gets new president

The Leela Palaces, Hotels & Resorts, on Saturday, announced the appointment of Onno Poortier as President effective from February 1, 2008, reports DHNS from Bangalore. Mr Onno Poortier is a stalwart hotelier with extensive international corporate business development, marketing and operational experience.

Vijaya Bank cuts lending rates

Vijaya Bank, on Saturday, announced interest rate cuts on a wide range of its loan schemes, effective from February 15, 2008. While it has effected a 25 basis points cut in floating rate on its housing loans up to Rs 20 lakh to 9 per cent, the rate of interest on education loan has been lowered by 50 basis points to 11.5 per cent.
Interest rates on various schemes under the MSME and SGSY sectors have also been brought down in the range of 50-150 basis points. Further, the Bank has also rationalised interest rates on its corporate vehicle loans at 10.5 per cent.
Under agricultural advances, interest rates on loans above Rs 50 lakh have been revised downward by 100 basis points.