Devendra Chawla appointed EVP and COO of Walmart India
Wal-Mart India, a wholly-owned subsidiary of US-based Wal-Mart Stores Inc., has appointed Devendra Chawla as chief operating officer and executive vice president. Chawla had last month resigned from Future Consumer, a part of Kishore Biyani-led Future Group, where he was the CEO. Devendra will lead merchandising, marketing, and omni channel functions for Walmart India’s cash and carry business.
Karnataka Bank to offer 5% for savings bank deposits over Rs 1 cr
Karnataka Bank has raised interest rates on savings bank account for large balance above Rs 1 crore to 5% while for small balances below Rs 1 lakh, the bank has reduced it to 3%. Earlier the private bank was charging 4% irrespective of the amount in the account. Karnataka Bank has said that the bank will offer 4% on deposits in savings account between Rs 50 lakhs and Rs 1 crore. For deposits between Rs 1 lakh and Rs 50 lakhs, the bank will offer 3.5%. The reduction in rate will be with immediate effect.
