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Category Archives: Economic

India-UAE MoU on investment fund likely

New Delhi:  India and the UAE are likely to sign a memorandum of understanding (MoU) on an investment fund during the course of the visit here of Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces Sheikh Mohamed bin Zayed Al Nahyan this week, a senior official said on Tuesday.…

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EY, Microsoft to deliver intelligence services in India

Mumbai:  Global leader in advisory services EY and Microsoft on Tuesday announced to develop and deliver innovative high-performance intelligence and analytics advisory services in India. These services will address the requirements of various industry sectors, including financial, life sciences, retail, consumer and packaged goods and government and public sector. The services will be powered by…

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Muthoot Microfinance raises equity funding from Creation Investments

Muthoot Pappachan Group, a diversified financial services conglomerate with presence in various other sectors spanning across hospitality, automotive, realty, IT services, healthcare, global services and alternate energy, has raised growth capital for its microfinance business from Chicago-based PE Fund Creation Investments – thereby making it the first-ever Private Equity round of funding for any of…

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‘Where are the fake notes? Even RBI doesn’t know’

Mumbai:  The Reserve Bank of India has admitted it has no confirmed data of the number or value of fake currencies detected since the demonetisation of Rs 500 and Rs 1,000 notes, a RTI query has revealed. “We presently don’t have the confirmed data on this query,” said a reply from the RBI’s Department of…

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Union Bank of India 0rganizes camp for LCV Borrowers

  Mumbai : Union Bank of India – Regional Office Mumbai South,  organized camp for financing LCV Borrowers of branches under Mumbai (South) Region. Bank gave letters of sanction to 201 customers with total sanctioned loan amount of Rs.11 crores.The camp was a grand success and all the borrowers/participants applauded the efforts of the Bank.…

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Bengal business meet nets over Rs 2 lakh cr investment proposals

Kolkata: The two-day Bengal Global Business Summit organised by the state government has received investment proposals worth Rs 2,35,290 crore, Chief Minister Mamata Banerjee announced here on Saturday. Addressing delegates on the concluding day of the meet, Banerjee said the manufacturing sector netted investment commitment of Rs 61,765 crore. Among other major sectors, MSME attracted…

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MobiKwik hires Ex Line India head Daman Soni

New Delhi: Indian mobile wallet major, MobiKwik today announced the appointment of Daman Soni as Vice President for Growth. In this new role, Daman will be heading the Growth function at MobiKwik and will be responsible for achieving the company’s user growth targets. He will also support the Marketing function at company. Speaking on the…

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Bengal global business summit to see mega participation

Kolkata:  In the shadow of demonetisation and a violent anti-land acquisition protest in Bhangar, the Mamata Banerjee-led West Bengal government is to inaugurate the third edition of its annual two-day business summit on Friday that will see participation from 25 countries. The authorities are yet to formally announce any list of Indian business captains who…

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Federal Bank Q3 FY 17 operating profit up 46%

Mumbai  : Federal Bank announced the Unaudited Financial Results for the quarter ended 31stDecember 2016. The major highlights of the results on a Y-o-Y basis are as follows:   Ø  Net Profit increases by 26.39% Ø  Total Business increases by 26.91% Ø  Total Deposits increases by 23.32% Ø  Total advances increases by 31.57% Ø  CASA…

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