State Bank of Bikaner and Jaipur, the largest associate lender of SBI, has increased the fixed deposit rates by 100 basis points to 10.75 per cent.

The bank stated in an official communiqué that for fixed deposits in between 2-3 years, the rate has been increased from 9.75 per cent to 10.75 per cent. However, the bank has kept interest rates for other maturities unchanged at the September 3 level when it last raised rates.

Last month, SBBJ raised the interest rate on term deposit in between 1-2 years by 50 basis points to 10.25 per cent.

Himachal Pradesh-based Himalya International has signed an agreement with US-based grocery chain ALDI to sell its products under "Himalya Fresh" brand name in America.

Under the arrangement, ALDI grocery stores would sell Himalya Fresh products like frozen vegetables, baby potatoes and breaded appetisers through 1,000 retail stores across the US, company Chairman Manmohan Malik said in a statement here.

The company is expecting exports to the US to grow by 60% and touch USD 10 million during the current financial year.

Popular Hollywood actress Hilary Swank has made an appeal to the women to donate their hair to help make wigs for women suffering from cancer.

State-run power producer National Thermal Power Corporation Ltd (NTPC) has informed that the Board of Directors of the Company at its meeting has approved the proposal for initiating discussion with Nuclear Power Corporation of India Ltd. (NPCIL) for entering into an MOU for formation of Joint Venture Company for setting up a Nuclear Power Project.

In the said proposed Joint Venture Company, NTPC would hold 49 per cent of the stake while the balance 51 per cent would be held by NPCIL.

The company would raise up to Rs 4,500 crore from domestic as well as international markets for meeting its expansion plans in the current financial year. The power producer plans to build 2,000 MW nuclear capacity by the year 2017.

SBI Mutual Fund (SBI MF), one of the largest mutual funds in the country has introduced ‘SBI Debt Fund Series -90 Days Fund-31’ in Indian market.

The fund is a close ended equity scheme with primary objective to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising debt instruments such as government securities, AAA/AA+ bonds and money market instruments.

The fund is open for subscription from October 31, 2008 till November 3, 2008.

The Scheme will offer Growth Option and Dividend Option.