The body that oversees Britain?s stakes in Royal Bank of Scotland and Lloyds Banking Group has picked JP Morgan to advise it on the possible sale of shares, a prestigious and hotly contested role. UK Financial Investments (UKFI) said on Friday JP Morgan Cazenove would initially help devise strategies ?for realising value for the government?s shareholdings?.
Punjab & Sind Bank cuts rate by 0.26%
Punjab & Sind Bank announced a cut of 0.26% in minimum lending rate to 9.99%, a move which will lower EMIs. The bank has reduced base rate to 9.99% from 10.25%, Punjab & Sind Bank said in a statement. All loans linked to base rate would become cheaper by at least 0.25%.