HDFC Bank has revised the average quarterly balance (AQB) requirements of various deposit accounts. In case of regular savings account, the minimum AQB to be maintained will be Rs 10,000 and Rs 5,000 for urban and rural branches, respectively. For kid’s advantage accounts and senior citizen accounts, this figure stands at Rs 5,000 across branches. These changes will come into effect from April 1, 2010, for its existing accountholders. Earlier, the bank had revised rates for its new customers as well.
NHAI, PFC file prospectuses, coupon rate not yet decided MORE debt investment options have opened up for investors with AAA rated tax-free bonds worth over Rs 14,000 crore lined up. The National Highway Authority of India ( NHAI ) and Power Finance Corporation ( PFC ) are offering Rs 10,000 crore and Rs 4,033.13 crore worth of tax-free bonds, respectively, as per prospectuses filed with the Securities and Exchange Board of India (Sebi). Of a Rs 5,000 crore issue by PFC, Rs 966.87 crore has already been raised through private placement on September 28 and November 1. Tax-free bonds give investors tax-free return on any amount invested. In another kind of bonds, the long-term infrastructure bonds, investments up to Rs 20,000 are tax exempt, that is this cap amount can be deducted from the taxable income. Accordingly, the NHAI prospectus has clarified that only the amount of interest from -and not the actual investment on -its new bonds will be tax-free. "NHAI's publ...
