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SBI raises benchmark lending rate by 50 basis points

NEW DELHI: State Bank of India, the country’s largest lender, today raised benchmark lending rate by 50 basis points to 12.25 per cent, making home, vehicle and other corporate loans linked with the rate costlier to existing borrowers. However, for new borrowers the base rate, which became effective from July 1 this year, stands at 7.5 per cent.

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CSMCRI breakthrough to boost production of refractory products

AHMEDABAD: A home-grown technology for extracting refractory grade Magnesia from sea water by the Central Salt and Marine Chemical Research Institute is in the process of being granted US patent giving a fillip to making of high-grade refractory products for the steel sector.

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European banking system faces a bleak future

Though we said last week that Europe is perched on a precarious precipice, it would be wrong to attribute the problems of euro zone banks entirely to ongoing sovereign debt crisis and even exposure to the U.S. toxic assets.

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State tourism policy soon

PANAJI: The Tourism Minister, Mr Nilkanth Halarnkar on Saturday said that the state tourism policy is in the making and would be out soon, for facilitating better tourism in the state.

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Rs 14 lakh Intruder delivered

PANAJI: The Intruder M1800R is the world’s most modern cruiser. It delivers the classic look of a cruiser without sacrificing the power and torque that motorcyclist crave. It is built for effortless cruising, across town or across state lines, said a press release.

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Efforts needed to raise farm output to ensure food security

NEW DELHI: Concerned over large population still suffering from poverty and hunger, Prime Minister Manmohan Singh today said more efforts were required to achieve higher productivity and growth in the farm sector that would ensure food security to the people of this country.

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Pawar terms reports on rotting of foodgrains as ‘exaggerated’

NEW DELHI: Government on Friday termed as "quite exaggerated" reports on rotting of foodgrains and said a master plan has been prepared to increase storage space. "All reports on rotting of foodgrains are not actually correct and quite exaggerated.

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BlackBerry optimistic of resolving security issue

NEW DELHI: Faced with August 31 deadline to address the country's security concerns, BlackBerry maker Research In Motion on Friday said it was "optimistic" of resolving with the government the issue of lawful interception of its services.

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