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Thursday, March 16, 2017

Govt launches new scheme for developing export linked infra
The government yesterday launched a new scheme - TIES - for developing export linked infrastructure in states with a view to promote outbound shipments. Launched by Commerce and Industry Minister Nirmala Sitharaman, the Trade Infrastructure for Export Scheme (TIES) seeks to bridge the infrastructure gap and provide forward and backward linkages to units engaged in trade activities.

Over 2,800 new FPIs registered with Sebi in Apr-Jan FY'17
More than 2,800 fresh foreign portfolio investors (FPIs) registered with capital markets regulator Sebi in the first 10 months of the current fiscal, indicating that India remains an attractive destination. In comparison, about 2,900 FPIs had received approval from the Securities and Exchange Board of India (Sebi) in the entire last financial year (2015-16). The number of FPIs with Sebi's approval rose to 7,114 at the end of January from 4,311 at March-end, reflecting an addition of 2,803 such investors, according to the latest data from Sebi.

Merger talks of ONGC, HPCL on at ministerial level
State-owned oil major ONGC has said the preliminary discussion for its acquisition of India's third-biggest fuel retailer HPCL has started and is going on at the ministerial level. "The talks are going on at ministerial level. We have not discussed it at the ONGC board. The petroleum ministry wants this to happen because if integration takes place, there will be value creation," ONGC Director (onshore) Ved Prakash Mahawar told PTI.

Federal Bank launches loan schemes for Govt/ PSU employees
In its constant endeavor to provide the customers with tailor-made products, Federal Bank has launched yet another product – Exclusive personal loan - aimed at Government/ PSU employees. It has been a steady practice at Federal Bank to innovate and design products which suits the requirements of various segments of customers.  Govt/PSU Employees can avail up to 15-Lakhs as Personal Loan from Federal Bank. Loaded with competitive interest rates, the loans can be availed hassle-free.

Rupa Group to sell Fruit of the Loom Inc. products
Oban Fashions, a wholly-owned subsidiary of Rupa & Company Ltd, has entered into a License Agreement with Fruit of the Loom, INC., a New York Corporation, a wholly-owned subsidiary of Berkshire Hathaway Company (a Warren Buffet Company), whereby Rupa & Company’s subsidiary has acquired the exclusive license from Fruit of the Loom, INC., to manufacture, distribute, advertise and sell innerwear and outerwear products for men, boys, women, girls and toddler in India, under their brand names and marks.

Aditya Birla Health Insurance launches 'Activ Health'
Aditya Birla Health Insurance Company Ltd (ABHICL) yesterday said it has launched its flagship product 'Activ Health' across key markets. The product is conceived with a vision and commitment to put health at the heart of health insurance that goes beyond the conventional mode of being just another financial support provider, it said in a statement. "We have created a product offering which could provide one stop solution for the emerging healthcare requirements amongst individuals and groups which will create sustained healthy behaviour," said Mayank Bathwal, CEO ABHICL

Future Generali LI launches Big Income Multiplier Plan
Future Generali India Life Insurance yesterday launched a non-linked, non-participating plan-Big Income Multiplier Plan, targeted at the small savings customer. "It guarantees income with a multiplier effect during the payout period. This product is designed keeping in mind the needs of the small savings customers who need to save regularly for specific needs in future," Future Generali Life Insurance MD and chief executive Munish Sharda said in a statement.

SBI to trims Paris ops into rep office to protect bottomline
As the regulatory compliance cost eats into the return on equity in some of its European operations, the State Bank of India is planning to convert its branch operation in Paris into a representative office. Chairperson Arundhati Bhattacharya said Europe is very costly for operations given the fact that capital is so scarce and costly now.

Tata Docomo to organise Customer Awareness Camp
Tata Docomo, the unified Telecom brand of Tata Teleservices (Maharashtra) Limited (TTML), will organize a Customer Education workshop at Malad in Mumbai on Friday, 17th March 2017. The aim of this program is to educate customers about the products and services of Tata Docomo and consumer friendly grievance redressal mechanisms provided by the Organization.

NTL Lemnis introduces Pharox 'Helio Plus' street light
NTL Lemnis, the leading LED Lighting solutions company, has added an innovative product Pharox “Helio Plus” to its product portfolio. The Pharox Helio Plus is a range of Street lights has a unique modular arrangement, that is as yet unavailable in the category.   Pharox Helio Plus range showcases a high performance, energy efficient LED light for road lighting applications.

Rashmi Housing organises ‘Maha Opinion’ on housing at BKC
Rashmi Housing has developed a new  concept for the first time in Mumbai: “Location bhiAapka –Budget bhiAapka”. Rashmi Housing offers flats at 45 locations from Bandra to Borivali and Matunga to Mulund, in Mumbai. The Company provides Metro Homes in the price range of Rs. 40 lakhs to 80 lakhs. The company offers Zero Interest payments with 50 monthly installments. The company has organized “Maha Opinion” event from 17th March to 20th March 2017 with free entry  at MMRDA Ground, BKC in Mumbai.

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