Delhi-based DMI Housing Finance today said it plans to grow its book size to Rs 300 crore by 2017-18.
"From its current base, DMI Housing Finance plans to grow to a book size of Rs 300 crore in 2017-18 and Rs 3,000 crore in 2020-21," said a company release.
DMI Housing Finance, a 100 per cent subsidiary of non-banking finance company DMI Finance, had started its loan operations in September 2012 and caters to affordable housing segment.
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RattanIndia Power appoints Venugopal Keshanakurthi as CFO * RattanIndia Power Ltd has appointed Venugopal Keshanakurthi as the Chief Financial Officer of the company.
The decision was taken in a board meeting held on February 12, 2016, the company said in press release.
Keshanakurthi will oversee corporate finance, accounting, investor relations and financial strategies for the company.
He will be directly reporting to the Chairman of the company Rajiv Rattan.
Keshanakurthi has around 27 years of rich and diverse experience in finance and fund raising.
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NSPCL pays Rs 100 cr interim dividend
* NTPC-SAIL Power Company Pvt Ltd (NSPCL), a joint venture of NTPC Limited and Steel Authority of India, has paid interim dividend of Rs 100 crore for 2015-16.
"NSPCL CEO Manash Sarkar presented dividend cheque of Rs 50 crore to NTPC Ltd CMD Gurdeep Singh," NTPC Ltd said in a statement.
During 2014-15, the company paid total dividend of Rs 100 crore which included interim dividend of Rs 80 crore and final dividend of Rs 20 crore which also works out to 10.20 of paid up equity share capital.
Jabong appoints Deepa Chaddha as HR Head
* Online fashion retailer Jabong today said it has appointed Deepa Chaddha as its Chief Human Resource Officer, as part of the company's efforts to regain lost ground in the booming online retail market in India.
"The move comes as a part of Jabong's endeavour to strengthen its leadership as it transforms itself from a start-up to a professionally run profitable organisation," Jabong said in a statement.
Chaddha brings with her 20 years of leadership experience across various sectors like telecom, software, KPO and pharmaceuticals.
Prior to Jabong, she was the Head of HR, Global Center of Excellence functions at telecom major, Bharti Airtel.
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ICICI Bank launches app challenge for next gen banking * India's largest private sector lender ICICI Bank today launched a mobile app development challenge for technopreneurs to create a next generation of banking applications on mobile.
"ICICI Bank today announced the launch of a virtual mobile app development challenge, India's largest mobile app development initiative by a bank," the bank said in a release.
The challenge christened as ICICI Appathon wants developers, technology companies, startups, technopreneurs and students to be a part of this idea.
* * * * * * ICA hails Kerela govt for removing VAT for mobile handsets * The Kerela government decides not to levy VAT 12.5 per cent VAT on adaptors and chargers when packed with mobile phones as it will help promote ease of doing business for the industry, Indian Cellular Association said today.
In a statement, National President of Indian Cellular Association (ICA), Pankaj Mohindroo, said earlier the state government was levying high VAT rate on mobile chargers and adapters even when it is packed in the same corrugated box as an accessory along with mobile handset with the latter attracting lower VAT rate.
The confusion arose following a Supreme Court order clarifying that mobile adapter/charger was an accessory to the mobile phone and not a part of the mobile phone.
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Uniphore expands leadership team
* Uniphore Software Systems, a speech recognition company, today said it has appointed Sami Benafia as Director of Sales and Aravind Gaddala as Director of Product Management.
The Chennai-based firm said Benafia will manage existing accounts and partners and will be responsible for developing strategic plans to drive engagement for clients and partners in the Middle East Region, Uniphore said in a statement.
Gaddala will lead Uniphore's product strategy to drive product and customer success. He will be responsible for product roadmap for all the product lines, activating the go to market strategy globally while ensuring a product-market fit.
LeEco receives 2.2 lakh orders in flash sales from India
* Chinese technology firm LeEco today said it has received 2.2 lakh orders for its Le1s smartphones through three flash sales from India.
The company said it has received a record 2.2 lakh orders within 31 seconds in three flash sales on Flipkart, while the number of registrations was over 20.2 lakh.
LeECo, earlier known as LeTV, entered India market earlier this year with launch of three handsets -- Le1S (Rs 10,999), Le Max (Rs 32,999) and Le Max Sapphire (Rs 69,999).
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icustommadeit.Com raises $4 mn from Brand Capital and others * Pune-based products start-up icustommadeit.Com has raised USD 4 million from Times Group's Brand Capital, Siddhivinayak Skyscrapers, an undisclosed corporate giant and IIT alumnus, Dinesh R Challa.
A substantial part of the Pre-series A funding will be used to advertise its brand and offerings.
Icustommadeit.Com also seeks to expand presence in 18 target cities and also start its global operations.
Currently, the company offers an array of over 25,000 products spread across 33 categories. It had raised USD 2,50,000 each in its second and third round of angel funding in June and August, 2015 respectively. The venture has raised USD 9,00,000 so far.
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TableHero gets $1 mn seed investment led by growX ventures * TableHero, an operating system for small local businesses, has raised about USD 1 million in seed funding, led by growX ventures.
The funding will be used to further product development of TableHero's existing suite of tools, as well as to bolster its engineering and product design team, it said in a statement.
The round also saw participation from FreeCharge founders, Kunal Shah and Sandeep Tandon, IVFA Partner and ex-CEO of Network 18, Haresh Chawla, Powai Lake Ventures and Globevestor.
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Unitus Seed Fund invests in BetterPlace * Unitus Seed Fund today said it has invested in BetterPlace Safety Solutions, a Bangalore-based digital verification solution provider.
With the investment from Unitus, BetterPlace will accelerate its technology development, increase operational capability and add geographic presence, it said in a statement.
BetterPlace helps in verifying credentials from a combination of sources including Aadhaar, digital footprint of an individual, traditional background checks as well as crowd sourcing from social media.
(REOPENS DCM103)
Entrepreneurs' Organization unveils Gurgaon chapter * Entrepreneurs' Organization today unveiled its Gurgaon chapter to support small entrepreneurs.
The peer-to-peer network said it is going to help small entrepreneurs and will give a easy platform where they can nurture themselves under the umbrella of EO Gurgaon.
Faircent names Shakti Goel as Chief of Product and Technology
* Peer-to-peer lending platform Faircent.Com today said it has appointed as Chief of Product and Technology.
Goel's deep domain knowledge of financial markets and banking would further accelerate the growth momentum of the largest player in the P2P lending space of India, it said in a release.
Vinay Mathews, COO and Founder, said: "In continuation with our agenda towards shaping technology, we needed leadership talent with deep experience in data analytics, mobile and security to take us to the next level. Shakti is a good fit."
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Goel takes charge as executive director of Union Bank of India * State-run Union Bank of India today said Atul Kumar Goel has assumed charge as its executive director.
Goel, 52, was earlier serving as the general manager and chief financial officer of Allahabad Bank.
He holds a bachelor degree with honours in commerce and is a member of the ICAI and has served the Allahabad Bank in various capacities including as the head of the Mumbai Zone, a statement said here.
At Allahabad Bank, he used to oversee finance and accounts, international banking, treasury and joint ventures, besides serving on the board of its subsidiary All Bank Finance, it added.
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Axis Bank, BSF ink pact for special salary package * Axis Bank today entered into an agreement with Border Security Force to offer a special defence salary package to officials of the paramilitary force.
The special offering includes comprehensive retail banking products and services that are customised to address the requirements of the serving as well as retired personnel, the bank said in a statement.
It includes enhanced personal accidental insurance cover with a special partial on duty coverage, total permanent disability cover, free unlimited ATM transactions on Axis Bank and other Bank ATMs, besides exclusive offers on loans and credit cards.
An memorandum of understanding was signed by BSF's financial advisor Venugopal V and Axis Bank's president and head of branch banking Sanjay Silas, it said.
