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The State bank of India announced on Wednesday that there’s going to be a small rise in rates for car loans and personal loans.

The MD of SBI said: “we have announced like in benchmark prime lending rates by 75basis points…Consequently, we will be raising rates by 75 basis points on an average.” Mr. Aggarwal added, “This interest rate cycle has peaked in economy and the rates are likely to stabilize at this level.”

SBI is going to raise interest rates in some schemes. SBI had also announced 0.75 % in its benchmark prime lending rate to 12.25% last month.

EMI Group and Apple Inc. takes a significant step by releasing higher-fidelity tunes specifically designed to play on any music player or computer. EMI Group & Apple is making its entire digital collection available without the anti-privacy software. Steve Jobs, CEO Apple Inc, and EMI Group Executives, on Monday, announced that EMI music will become available on Apple’s iTunes store without digital rights management (DRM) from May, 2007. This deal will also pressurize the other record labels to open up and offer DRM-free music.

The non-life insurance industry has decided to contract out resolution of accidental reimbursement claims to a central body to lessen losses bobbing out of large awards.
The central agency, which is the General Insurance Corporation’s subdivision, services all reports for payment owing to accidents caused by commercial vehicles. The regulator has been directed the industry to pool all gains or losses getting up motor third-party liability insurance.
Insurance Regulatory and Development Authority stated that the motor insurance pool will get into effect from April 1 and will be applicable to all commercial vehicles that would include all vehicles makes and classes.

Prudential ICICI Mutual Fund has been assigned a new name ‘ICICI Prude

All is set for the Technology and Software giant, IBM to launch a multimedia web browser for visually impaired. Using this web browser, they can access web video and audio. This software for visually impaired, codenamed the Accessibility Browser or A-Browser is created by Dr. Chieko Asakawa, who has been blind since age 14 and is a senior researcher at IBM’s research laboratory in Tokyo. Blind and partially-sighted people will get the unbelievable control over multimedia application using a keyboard to control media player software.

ICICI Property prepared a report, India Retail Real Estate The Road Ahead, that says the total real estate requirement of the future organized retail chains will be far more than the construction i