The city may soon record the largest transaction for commercial space with Citibank India close to paying approximately Rs 1,000 crore for space in an under-construction building at Bandra-Kurla Complex. The deal, expected to be concluded shortly, comes at a time when the property market is in the dumps.
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The new base rate is 8.7 per cent and the BPLR has been revised to 17.25%. HDFC Bank, the second largest private one, has raised its minimum lending rate, or base rate, by 50 basis points and the benchmark prime lending rate (BPLR) by 75 basis points. The new base rate is 8.7 per cent and its BPLR has been revised to 17.25 per cent.
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State Bank of India — the nation s largest bank — has decided to withdraw from the certificate of deposit market, a move that has left most market players relieved as they were paying more than 10 per cent for even three-month CDs. Short-term rates, which have moved up 200 bps in the last four months, are now expected to come down.
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