Mumbai: British development finance institution CDC, today announced a new investment designed to provide capital to small and medium businesses (SMEs) that reach poor and underserved communities in India.
The institution is committing USD 25 million to the Aavishkaar Bharat Fund (ABF) that invests in early stage businesses in parts of India that have not traditionally been well served by the investment community.
ABF will invest in businesses with high social impact in sectors such as agriculture, financial services, healthcare, waste and sanitation, renewable energy and logistics.
RGI enters into bancassurance tie-up with Yes Bank *
Reliance General Insurance Company (RGI) today signed a bancassurance agreement with Yes Bank.
Under the corporate agency agreement Yes Bank will distribute multiple general insurance products of the private insurer to its customers, a release issued here said.
Yes Bank with its network of 1040 branches across 29 states and 7 union territories of India will enable Reliance General Insurance to reach a large base of retail and MSME clients.
Bhaskar Bhat, Saurabh Agrawal join Tata Sons board *
Tata Sons today said Bhaskar Bhat, Managing Director of Titan, and Saurabh Agrawal group chief financial officer, have been elevated to the Board of Directors of the company.
“We welcome Bhaskar and Saurabh to the Board of Directors. The Board will benefit from the tremendous experience and knowledge of these professionals in multiple domains,” Tata Sons Chairman N Chandrasekaran said in a release issued here. Bhaskar Bhat is currently the Managing Director of Titan Company.
Westin Hotels and Resorts debuts in Kolkata
Westin Hotels and Resorts, part of Marriott International, today announced the opening of its eighth hotel in India, The Westin Kolkata Rajarhat.
The Westin Kolkata Rajarhat is built in over eight acres with 314 guestrooms and suites, the company said in a release issued here.