MEP to collect toll at Rajiv Gandhi Sea Link

Toll road firm MEP Infrastructure Developers today said it has bagged a toll collection contract from Maharashtra State Road Development Corporation (MSRDC) at the Rajiv Gandhi Sea Link, also known as Bandra Worli Sea Link.
The period of the contract is three years and the contractual amount for the project is Rs 325.08 crore, which is payable to MSRDC on a whole upfront basis, the company said in a statement issued here.
"With this new project awarded, MEP further continuous to strengthen its position in the operate, maintain and transfer (OMT) space by handling landmark projects fostering sustainable growth, be it Rajiv Gandhi Sea Link in the west of India or Vidyasagar Setu in the East," its Vice Chairman and Managing Director Jayant Mhaiskar said.

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Sam (India) Builtwell bags contract to construct Aarey metro depot
Mumbai Metro Rail Corporation (MMRC) today said it has awarded Rs 328 crore worth contract for construction of metro depot at Aarey Colony to Sam (India) Builtwell.

"We have awarded civil work contract for Aarey car depot construction. The contractor is mobilising the equipments and workforce and civil work is expected to commence soon. The car depot is designed for 35 rakes of 8 car trains within 25 hectare area," its director (projects) and acting managing director, SK Gupta, said in a statement.
The civil work for the car depot is expected to be completed in two and half years of commencement.

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Svatantra Microfin launches cashless solutions for customers
Microfinance institution Svatantra Microfin today said it has launched an end-to-end cashless solutions for customers.
The company has adopted end-to-end mobility solution, Saathi, for an entire spectrum of operations in areas such as loan originating system, loan management system, and collections.
It has also created a affordable cashless mediclaim product for a maximum of 5 family members, including parents in partnership with third-party service providers.
The MFI has 83 branches and has served about 3,00,000 rural women since 2014.
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Magma Housing Finance appoints Manish Jaiswal as MD & CEO
Non-banking finance company (NBFC) Magma Housing Finance today appointed Manish Jaiswal as it's managing director and CEO.

Jaiswal will replace Sachin Khandelwal who had stepped down to pursue interests outside the group, the company said in a statement.
He will also hold the additional charge of heading Magma's SME Business.
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Employee benefit solutions co Zeta picks up stake in ZingHR
Fintech company Zeta specialised in digitised employee benefits solutions, has made a equity investment in ZingHR, a cloud services provider, for an undisclosed amount.
ZingHR will also now offer its clients Zeta's digital employee benefits solutions such as meal vouchers, paperless claims for medical, LTA, fuel, and mobile among others.
This investment will bolster equity infusion along with existing investors Triton, the company said in a statement. With funding from Zeta, ZingHR will further expand its business and build its technology, it said.