Maharashtra State Co-operative Bank has revised the deposit rates effective from April 1. The bank now will pay 5.5 per cent on savings accounts. The deposits between 15 and 29 days will fetch 6 per cent, 46-180 days 7 per cent, 1 year to less than two years 9.5 per cent and two years and above 11.5 per cent. The bank will offer an additional interest 0.5 per cent and 1 per cent on high value deposits.

L&T raises 49% of KIDC bonds

L&T Finance has mobilised 49 per cent of the Konkan Irrigation Development Corporation's (KIDC) bond issue which raised Rs 90 crore. The consortium of arrangers for the issue consisted of Canara Bank (co-ordinated lead manager), RR Financial Consultants (lead arranger) and L&T Finance and Aryaman Financial Services as arrangers.

Repo sale

The Reserve Bank of India (RBI) has received two application for Rs 170.00 crore of the 4-day 6.00 per cent fixed rate repos held on Friday.

Ion Exchange rating

Crisil has withdrawn the `FA-' rating assigned to the fixed deposit programme of the Ion Exchange Finance Ltd since the company has met with all its fixed deposit obligations and has no outstanding fixed deposit, according to a Crisil release on Friday.

Icra rates Karnataka Neeravari

Icra has assigned `LA+(SO)' rating to the Rs 600 crore structured bond programme of Karnataka Neeravari Nigam Ltd (KNNL). The rating indicates adequate safety. The protective factors are average and any adverse change in circumstances may alter thefundamental strength and effect the timely payment of principal and interests as per terms.

Nedungadi Bank branch

The Kerala-based Nedungadi Bank has opened a new branch at Andheri in Mumbai, making this its 161st branch in the country and fourth in Maharashtra.

KBC Bank fixes new rates

The KBC Bank has pegged its prime lending rate at 13.5 per cent. The bank has fixed its rate for deposits between 15 and 29 days at 7 per cent, 46 and 90 daysat 8.75 per cent, 6 and 9 months at 9.5 per cent, 9 months and-one year at 10 per cent and those between 1year and 2 years at 10.5 per cent.