ICICI webtrade to launch online broking
Mumbai: ICICI, through its internet broking arm - ICICI WebTrade - is all set to launch its online broking services to the public. The broking arm which called for registrations earlier has received more than 10,000 applications for this service.

The service was tested on Friday and ICICI should be getting the necessary permissions from the National Stock Exchange shortly, to commence its services. On launch, the service will allow its registered members to apply for IPOs over the net. This will be facilitated since the registered members will have ICICI Bank accounts as well as demat accounts with the bank. The company has fixed a commission of 0.85 per cent or a minimum of Rs. 150 for a delivery based transaction.
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Indian Overseas Bank to offer gold deposits
Chennai: After State Bank of India and the Corporation Bank, Indian Overseas Bank will be third Indian bank to offer gold deposit services.

The scheme, designed to allow idle gold assets earn some money, will yield 3.25 per cent on a three year gold deposit going up to 3.75 per cent on a five year gold deposit. The bank is targeting the scheme at the huge amounts of gold deposits with temples and trusts, besides individuals. The bank proposes to lend the gold mobilised under the scheme to the jewellery industry at 8 per cent.
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