Greater Bank Cuts Home Lending Rates POWERGRID signs Memorandum of Co-operation

The Greater Bombay Co-operative Bank Ltd. (Scheduled Bank), has reduced its home loan rates to a fixed rate of 8.50% p.a. with effect from 8th February 2017. The Bank will offer a special interest rate for women borrowers, at 8.40% p.a. The new rates will be applicable for all home loans upto Rs. 70 lakhs, sanctioned after 8th February 2017 and will be available for a limited period only. The Bank is also offering waiver on processing fee to those who transfer their home loan to Greater Bank. Greater Bank's aggressive cut in home loan rates comes at a time when market conditions are favourable for prospective home buyers. Smt. Manisha Raodeo, Chief Executive Officer of the Bank said that home buying will increase in the near future as buyer's financial ability to purchase property improves. The Bank has also tied up with National Housing Bank (NHB) to offer subsidy benefits to eligible borrowers under the Pradhan Mantri Awas Yojana.

Power Grid Corporation of India Limited (POWERGRID) has signed a Memorandum of Co-operation with Norwegian Centre of Expertise (NCE) - Smart Energy Markets. The Memorandum was signed by Karl Dieter Hirdes, Head Research & Innovation and Anil Mehra, ED-IB, POWERGRID in the presence of I. S. Jha CMD, POWERGRID and senior officials from both sides and Norwegian embassy at the corporate office of POWERGRID. The Memorandum of Co-operation inter alia envisages cooperation between NCE, Norway and POWERGRID to work in fields of Smart Grid, Capability development and other related areas.