Two of the largest private banks, HDFC and ICICI, hiked interest rates from August 1.
The rate of interest for fixed deposits has been increased by 75 to 100 basis points. Floating reference rates (FRR) for consumer’s loans were also hiked by 75 basis points. The new FCC will be 14.25 percent. ICICI has stated in a press release that existing customers will not be covered under new interest rates.
Stock market analysts have maintained ‘buy’ rating on ICICI Bank stock with an intraday target of Rs 640.
According to them, interested traders can purchase the stock around Rs 635 with a strict stop loss of Rs 632. If the stock market remains on positive track, the stock pricing becomes more attractive, and reach above Rs 642.
Shares of the bank, on Thurday (July 31), closed at Rs 634.85 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 1353189. Current EPS and PE Ratio stood at 36.93 and 17.13 respectively. The share price has seen a 52-week high of Rs 1465 and a low of Rs 515.10 on BSE.
Valencia, Spain - Spanish bank notes contain the highest concentrations of cocaine in Europe, according to a study made public on Thursday.
Randomly selected Spanish euro notes contained traces of cocaine at an average concentration of 155 microgrammes, according to the study by Valencia University made public in the magazine Trends in Analytical Chemistry.
Cocaine was found not only on notes that had been in direct contact with the drug, but on nearly all notes in circulation, said Miguel de la Guardia, co-author of the study.
He attributed the phenomenon to cross-contamination between bank notes, as well as in money-counting machines in banks.
New Delhi, July 31 : The HDFC Ltd today announced a hike of 0.75 per cent in lending rates from August 1 for old and new floating rate customers, who would now have to pay a minimum of 11.75 per cent interest on home loans.
“This is in line with the rates of interest in the economy, which have hardened due to rising inflation and shrinking liquidity in the domestic market,” the lender said in a statement.
The move by HDFC closely follows an up to one per cent rate revision by leading PSU banker Punjab National Bank, Axis Bank and J-K Bank that made all home, corporate, personal and auto loans expensive.
Frankfurt - Germany's biggest bank Deutsche Bank AG reported Thursday a 64 per cent fall in second quarter earnings on the back of write-downs totalling 2.3 billion euros (3.6 billion dollars).
The Frankfurt-based bank said that net profit fell to 649 million euros from 1.78 billion euros in the second quarter last year.
This comes in the wake of a 311-million-euro pretax loss run up by Deutsche's key investment banking business as a result of the continuing fallout from the financial market crisis triggered by the US subprime mortgage upheaval.
August 1. 
with an intraday target of Rs 640. 
New Delhi, July 31 : The HDFC Ltd today announced a hike of 0.75 per cent in lending rates from August 1 for old and new floating rate customers, who would now have to pay a minimum of 11.75 per cent interest on home loans.
- Pre-tax profits at HBOS, Britai
- Germany's biggest bank Deutsche Bank AG reported Thursday a 64 per cent fall in second quarter earnings on the back of write-downs totalling 2.3 billion euros (3.6 billion dollars). 
