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Aviva, Bank of Maharashtra in bancassurance tie-up

Press Trust of India  |  Mumbai 

: State-run of Maharashtra, which under the of the Reserve due to very high bad loans, and Life 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 Life products through its 1,863 branches, the company said in a statement today. Life is a joint venture between Invest Corp and International Holdings of Britain, whose association with dates back to 1834 with the partners holding 51 and 49 per cent respectively in the company. . . *** sells outsourced business to EPS * NCR Corporation today said it has sold outsourced 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 outsourced business in Kerala, Bihar, 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. .

**** lending industy announces new lobby * Months after the Reserve came out with regulations for them, the lending industry today announced a lobby grouping, Association of Lending Platforms. "lending is in its nascent stage in Through this association, we intend to promote the lending in as an innovative platform for alternate financing," its 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 and ministry, towards the betterment of the industry, a statement said. . . * 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.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 10 2018. 20:15 IST
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