ICICI Bank increases Base Rate and Prime Lending Rate

August 11, 2011 by · Leave a Comment
Filed under: Asia-Pacific, Banking, Finance 

http://www.sec.gov/Archives/edgar/data/1103838/000095010311003330/logo.jpgAugust 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

TextGuard Mobile Compliance Adds Whitelist Feature to Suite of Solutions for Their Customers

TextGuard’s newest feature prohibits callers from making calls and sending text messages to a pre-defined list of recipients, thus preventing ethical wall-crossing and compliance violations.

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August 11, 2011, New York, NY – TextGuard™, the leading provider of mobile communication compliance solutions, announced a new module which was developed to check outgoing SMS messages and phone calls against a pre-defined database to verify compliance. The application will restrict a call from being placed if the caller dials or sends a text message to a non-compliant or restricted phone number. The importance of having a Whitelist/Blacklist or restricted list appeals especially to the financial services industry. This protection of information between various areas within a firm, sometimes referred to as ethical wall crossing, is critical to maintaining risk management and compliance. With this mobile compliance feature, TextGuard has taken an additional step for Compliance Departments in providing another layer of security for company-owned or sponsored mobile devices. Read more

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