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Infibeam CCAvenue launches pan-India billing service on BBPS

E-commerce solutions provider Infibeam said its unit Avenues India, which operates the payment service CCAvenue, has entered the bill payment service with the launch of a new service BillAvenue.The service has been built atop the Bharat Bill Payment System created by the National Payments Corporation of India, which also

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Yes Bank signs distribution agreement for Reliance General Insurance products

Reliance Capital said its subsidiary Reliance General Insurance Company signed an agreement with YES BANK to distribute general insurance products to the customers of YES BANK.YES BANK is India’s 5 th largest private sector Bank with a network of 1040 branches across and will act as a corporate agent of the insurance

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Ramco wins multi-million managed services deal from British MNC Bank

Cloud-based enterprise software provider Ramco Systems said it won a multi-million dollar order from a big British MNC financial group to provide managed payroll services.Ramco will help the company, part of the FTSE 100 index, to consolidate its payroll operations in 14 countries on a unified platform.It will

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MobiKwik creates wallet app for bank even as rivals focus on payments bank

Wallet app provider MobiKwik announced a tie-up with IndusInd under which it has launched an app exclusively for the bank's 10 mln customers.The move is in line with the app company's strategy to be a partner and solutions provider to traditional financial services companies such as banks, instead of

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XL Catlin to buy 20% of Mahindra Insurance Brokers

Mahindra Finance said global insurance major XL Group will take a 20% stake in its subsidiary Mahindra Insurance Brokers Ltd, including the 15% currently held by LeapFrog Financial Inclusion Fund."XL Group will help support MIBL’s endeavours to increase insurance awareness and penetration in underpenetrated markets and across under-served customers

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Moody’s to train SBI employees to appraise loan applicants

State Bank of India, the country's largest bank, said Moody’s Analytics will train its employees to source, appraise and monitor loans.SBI employees will be granted the Moody’s Analytics Certificate in Commercial Credit (CICC) as part of the program.The program has been adapted to the India’s banking sector with

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Reliance Capital to get Rs 300 cr from IREDA for lending to renewable sector

Anil Ambani Group's Reliance Capital Indian Renewable Energy Development Agency Limited (IREDA) will make available Rs 300 cr for lending to renewable energy and energy efficiency projects.IREDA is a Government of India Enterprise under the administrative control of Ministry of New and Renewable Energy (MNRE).Reliance Commercial Finance

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Mahindra Financial Services to raise 2,250 cr via share sale

Mahindra and Mahindra Financial Services said the company board has approved a proposal to raise up to Rs 2,250 cr by selling shares or instruments convertible to shares.It said a Securities Issue Committee has been set up to undertake decisions in relation to the proposed issuance.Mahindra & Mahindra Financial

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Andhra Bank, Syndicate Bank customers lose lakhs to Aadhaar fraud

Five customer accounts belonging to Andhra Bank and Syndicate Bank were subjected to fraudulent withdrawals using the customer's Aadhaar data, government data indicated.Four of the five Aadhaar fraud cases took place in Andhra Bank, while the remaining one took place in Syndicate bank.The four account holders of Andhra Bank

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Piramal Enterprises invests Rs 280 cr in Thane real estate project by Puranik

Piramal Enterprises Limited said it will invest Rs 280 crore in Puranik Builders' “Puranik City Reserva” project in Thane. The investment, routed through Piramel Finance, will be modeled on the ‘financial partnership’ model, it said.Puranik City Reserva is a theme-based ongoing project at Ghodbunder Road in Thane and is

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