ICICI Bank increases Base Rate and Prime Lending Rate
August 11, 2011, Mumbai, India — ICICI Bank has announced an increase of 0.50% in the ICICI Bank Base Rate (“I-Base”) with effect from August 13, 2011.
The revised rate will be 10.00% p.a. as against 9.50% p.a. at present. With effect from July 1, 2010, interest rates on new loans and advances, including consumer loans, are determined with reference to I-Base.
ICICI Bank has also announced an increase of 0.50% in its benchmark prime lending rate and in its Floating Reference Rate (FRR) for consumer loans (including home loans) with effect from August 13, 2011. The above benchmark rates are used for determining interest rates on loans and advances sanctioned upto June 30, 2010. Read more
Canadian Solar expands into India with 33MW solar module sales agreement
Filed under: Americas, Asia-Pacific, Business, Energy, Renewable Energy, Technology
August 1, 2011 — Canadian Solar Inc. (NASDAQ:CSIQ), one of the world’s largest solar companies, announced that it has signed a photovoltaic (PV) solar module sales agreement with Cirus Solar Systems Private Limited (Cirus), a solar engineering, procurement and construction (EPC) company based in Hyderabad, India.
Under the terms of the agreement, Canadian Solar is expected to deliver 33-megawatts (MW) of solar modules in the third and fourth quarters of 2011 at agreed prices denominated in U.S. dollars. The modules are expected to be utilized for solar PV projects that are designed, installed and commissioned by Cirus on behalf of two prominent Indian conglomerates. Initial shipments have already commenced. Read more