: State-run Bank of Maharashtra, which under the prompt corrective action of the Reserve Bank due to very high bad loans, and Aviva Life Insurance have entered into a corporate agency arrangement to distribute the latter's products. With this tie-up under the open architecture system, BoM will hawk Aviva Life products through its 1,863 branches, the insurance company said in a statement today. Aviva Life India is a joint venture between Dabur Invest Corp and Aviva International Holdings of Britain, whose association with India dates back to 1834 with the partners holding 51 and 49 per cent respectively in the company. . . *** NCR Corp sells outsourced ATM business to EPS * NCR Corporation today said it has sold outsourced ATM business to Electronic Payment and Services (EPS) for an undisclosed sum. The deal involves transfer of assets and customer contracts in respect of the Ministry of Finance outsourced ATM business in Kerala, Bihar, Jharkhand and Lakshadweep, and will take total number of ATMs managed by EPS to 11,000, it said in a statement. "The decision to sell a significant portion of our MoF business aligns with our vision to focus on software driven hardware enabled growth supported by end-to-end managed services," NCR India's MD Navroze Dastur said. PTI AA .
**** Peer-to-peer lending industy announces new lobby * Months after the Reserve Bank came out with regulations for them, the peer-to-peer lending industry today announced a lobby grouping, Association of P2P Lending Platforms. "P2P lending is in its nascent stage in India. Through this association, we intend to promote the P2P lending in India as an innovative platform for alternate financing," its secretary and chief executive of Lendenclub, Bhavin Patel, said. The association aims to introduce best practice for the growth and development of the industry and coordinate with concerned government bodies, including RBI and Finance ministry, towards the betterment of the industry, a statement said. . . * Amber Enterprises to raise Rs 600 cr through IPO * The Gurugram-based contract manufacturer, Amber Enterprises today said it is raising around Rs 600 crore through initial public offer with a price band between Rs 855 and Rs 859 per share. The company is making a public issue comprising a fresh issue of equity shares aggregating up to Rs 475 crore and an offer for sale of up to Rs 125 crore by promoters Jasbir Singh aggregating up to Rs 62.5 crore and Daljit Singh up to Rs 62.5 crore, a company statement said here. The issue will open on January 17 and closes on January 19.
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