Thursday , 22 February 2018
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ECONOMIC SCAN

Mahesh Pai bags award for excellence in financial services

PANAJI: The year 2017 has been an award storm for Mahesh Pai. Adding to his achievements, Mahesh Pai was honoured with National choice award for “Excellence in financial services for the year 2017” at the National Level in Delhi. The award was presented to him by Bollywood actress Neha Dhupia. Besides being a financial consultant he has also been a business consultant to his clients which has made his clients grow their business in un-imagined profit breaking all their past records in professional way, making them grow personal and financially. Mahesh Pai is not just a name, it’s a brand mark for financial and business consultancy. His services span across 3 broad categories such as portfolio management, loans and business development consultancy. NT

IRFC raises $500 million 10-year green bond

MUMBAI: Indian Railway Finance Corporation Limited (IRFC) announced that it has successfully raised US$ 500 million 10-year green bond from investors in Asia, Europe and Middle East, and offshore US. Proceeds of the bond will be used to finance the eligible green projects under dedicated freight railway lines and public passenger transport. The green bonds have been certificated by the Climate Bond Initiative (CBI), while the “Green Bond Framework” formulated by IRFC has been verified by KPMG.  This is IRFC’s inaugural foray into the green bond market. The 10-year benchmark has a semi-annual coupon of 3.835% per annum and a maturity date of 13 December 2027. It offers investors a yield of 3.835%, equivalent to 145 basis points over the 2.25% UST due 15 November 2027.

True Balance launches mobile wallet service

MUMBAI: True Balance, one of the top applications in the lifestyle category on Google play store added a mobile wallet feature, marking its entry into the fintech business in India. Having received a nod of approval for wallet license from the Reserve Bank of India (RBI) earlier this year, the mobile balance checking company has now launched its new mobile wallet feature enabling next generation payment method. This feature will allow users to add money to wallet, do faster recharges and do peer to peer money transfers.  Moreover, it will also enable users to transfer wallet money to one’s bank account. True Balance wallet is RBI compliant and keeps data security of users at utmost priority.

CMS elevates Krzysztof to chairman of board

MUMBAI: One of India’s largest cash management company CMS Info Systems Limited, announced that Krzysztof Wieslaw Jamroz, an independent director of CMS since March 2016, was elevated to chairman of the board as of August 2017.  Jamroz presently serves in the capacity of the chief executive officer of STG Holdings LLC and is also the executive chairman of St George Logistics, USA. He has more than 15 years of experience across cash management, investment banking and logistics sectors. He was till recently the president and chief operating officer of the cash services business of GardaWorld Corporation. He has also served as the head of JP Morgan’s corporate finance practice in Canada. Jamroz holds a bachelor’s degree in business studies from Birmingham City University and a master’s degree in business administration from Schulich School of Business, York University, Canada.

 

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