Business Economy


IOB to reduce one month MCLR by 10 bps from March 15

Chennai, Mar 13 (UNI) The public sector Indian Overseas Bank (IOB) on Friday announced reduction in its Marginal Cost of Funds Based Lending Rate (MCLR) by 10 basis points with effect from March 15.
This followed a comprehensive review by the bank’s Asset Liability Management Committee (ALCO) meeting on March 12 which reviewed the MCLR workings as of March 10, 2026, and approved a reduction in short-term borrowing costs to better align with current market dynamics.
Specifically, the bank has reduced its one month MCLR by 10 basis points (bps), lowering it to 8.20%. from the existing 8.30% and this revised rate structure will be implemented from March 15.
The revision has been communicated in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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Nadir Godrej resigns as MD & Chairman of Godrej Industries

13 Apr 2026 | 8:42 PM

Mumbai, Apr 13 (UNI) Godrej Industries Limited informed the stock exchange on Monday that Nadir Godrej, Chairperson of the Godrej Industries Group, has resigned as Managing Director & Chairperson of Godrej Industries, adding that he will retire upon turning 75 in August 2026 and assume the role of Chairman Emeritus. .

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TVH elevates India as global hub to shield supply chains from geopolitical turbulence

TVH elevates India as global hub to shield supply chains from geopolitical turbulence

13 Apr 2026 | 7:32 PM

Arti Bali
New Delhi, Apr 13 (UNI) TVH, a leading global supplier of spare parts for industrial and material handling equipment, has officially named its India operations as its third global hub, joining its headquarters in Belgium and its North American base in the US. The move positions the company to maintain uninterrupted service to customers in 170 countries, bridging critical supply gaps even as the West Asia crisis disrupts key shipping routes.

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13 Apr 2026 | 7:24 PM

New Delhi, Apr 13 (UNI) The retail inflation for the month of March has been recorded at 3.40% on a year-on-year (yoy) basis. Corresponding inflation rates for rural and urban are 3.63% and 3.11%, respectively, data released by the Ministry of Statistics & Programme Implementation (MoSPI) said.
Food inflation for March is 3.87% (Provisional) with the corresponding inflation rates for rural and urban are 3.96% and 3.71%, respectively. The MoSPI data said the onion prices fell by over 27 per cent, while potatoes saw a decline of nearly 19 per cent.

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13 Apr 2026 | 7:10 PM

Washington, Apr 13 (UNI) Facing a strong jolt post the failed US-Iran talks, oil prices that rose by 7 per cent past the USD 100 per barrel yesterday, continued to remain high today, undoing the relief brought on about the ceasefire agreement.

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Estilocus targets pan-India menswear presence amid 83 percent growth

13 Apr 2026 | 5:36 PM

Bengaluru, Apr 13 (UNI) Bengaluru-based menswear brand Estilocus is fast transitioning from a Kerala-focused niche label into a pan-India fashion disruptor, as it accelerates expansion plans backed by strong business momentum and 83% year-on-year revenue growth.

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