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Friday, March 15, 2019

BoI to raise Rs 400-500 cr from non-core asset sale this month
State-run Bank of India yesterday said it is looking to raise at least Rs 400-500 crore from sale of a non-core asset by end-March, a top bank official said. It could be noted that the bank has been looking to sell its stake in a few non-core assets including Star Union Dai-Ichi Life Insurance, STCI Finance and Sidbi. The bank's managing director and CEO Dinabandhu Mohapatra told reporters yesterday the process to sell non core asset is on and the bank has already floated request for proposals (RFPs). The lender is examining all the offer it has received, he said. "...It will take some time. We are very hopeful of one transaction will be completed by March-end. We may be able to raise around Rs 400-500 crore," Mohapatra told reporters on the sidelines of a Ficci-IBA event.

HDFC Capital, Tribeca form Rs 500 cr housing platform
HDFC Capital Advisors and realty firm Tribeca yesterday announced a Rs 500 crore fund for development of mid-income housing projects in Mumbai and Delhi-NCR. The projects will be developed by Tribeca, which is developing two Trump Tower projects in Kolkata and Gurugram. HDFC Capital Advisors, which is the real estate-focused fund management arm of HDFC Ltd, and Tribeca said the platform will invest Rs 500 crore through a combination of debt and equity. “This is probably for the first time, HDFC Capital has set up a platform with new age developers like us. We have already identified our first project in Gurugram where around 600 flats would be constructed,” Tribeca MD Kalpesh Mehta told PTI.

THOMSON unveils 40 inches 4k Smart TV
French consumer brand Thomson, which launched a year ago in India, is now introducing India’s only 40-inch 4K smart TV. Part of Thomson’s promise to deliver ‘Friendly Technology’ at affordable prices, this TV, priced at  INR 20,999/- will be available for purchase online on Flipkart’s platform starting 16th March 2019. Enthralled at the launch, Avneet Singh Marwah, CEO, SPPL, exclusive brand licensee of THOMSON TV’s in India said, “We are excited to launch India’s only 40 4k TVs, we want Indian consumers to upgrade their TVs from FHD to 4k at a super affordable price. I'm confident that this will set the trend in the market as consumers have started focusing on specs and better picture quality, as you know in the past the 4k content was limited, therefore this TV comes with the latest specs where consumers can access their favorite 4k YouTube content. Thomson 40 4k will be available with our strategic partner Flipkart.”

Walmart India opens 24th outlet in India
Walmart India, the wholly-owned subsidiary of Walmart Inc., has announced the opening of its first B2B Cash & Carry store in the city of Karimnagar, making it the second in the State of Telangana and the 24th “Best Price Modern wholesale Store” in the country. This store is the first one in the State after Walmart India became a fully owned subsidiary of Walmart Inc. Announcing the opening of the first store in Karimnagar, Krish Iyer, President & CEO, Walmart India said, “We are excited about opening the first B2B Cash & Carry Store in the city of Karimnagar. This is our second store in the state of Telangana, which reinforces our belief in the ease of doing business under the leadership of Chief Minister K. Chandrashekar Rao. Each of our Store creates an estimated 2,000 direct and indirect jobs and this one too has opened up employment opportunity for local youth in Karimnagar.

RBI categorises IDBI Bank as private sector lender
IDBI Bank has been categorised as a private sector lender following acquisition of majority stake by Life Insurance Corporation, RBI said. In January, LIC completed the process of picking up a controlling 51% stake in the nearly crippled IDBI Bank. "IDBI Bank has been categorised as a 'private sector bank' for regulatory purposes by Reserve Bank of India with effect from January 21, 2019 consequent upon LIC acquiring 51% of the total paid-up equity share capital of the bank," RBI said in a statement. IDBI Bank has been under the prompt corrective action framework of RBI that bans it from corporate lending and branch expansions, salary hikes and other regular activities. However, the lender has charted out a revival strategy to bring banking and insurance under one roof, along with its new owner Life Insurance Corporation (LIC).

Retail Solutions Providers market to grow to Rs 20,000 cr in next 3 years
In-store shopper experiences in India are at the cusp of a major revolution and will shape the future of traditional retail (80% of Indian retail sector) allowing retailers to provide the much-needed boost to Indian Economy. In-Store Asia highlights the potential for the Retail Solutions Providers industry to scale up to Rs 20,000 crore from the existing 12,000 crore in the next 3 years. New Investments, partnerships and world-class technologies revolutionizing POP advertising, Store Fixtures, Signage, Props, Lighting etc. will contribute to this exponential growth shaping the stores of tomorrow. The 12th edition of In-store Asia, (ISA)which is now part of EuroShop, Messe Düsseldorf GmbH, the world’s leading retail fair for all investment needs in the brick-and-mortar retail sector took off today with a big bang. In-store Asia, (ISA)is slated to welcome 7500+ visitors and 150+ exhibitors from over six countriesduring March 14-16 at Bombay Exhibition Centre.

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Aries (Mar 21 - Apr 20)You are likely to remain careful and watchful today, foretells Ganesha. And because you'll be invited to parties and other social events, your enthusiasm will remain buoyant. You will also strike the right balance between business and pleasure, says Ganesha.
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