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NHPC commissions Unit 4 of Teesta Low Dam Project

Press Trust of India  |  New Delhi 

State-owned NHPC Ltd today announced the commissioning of Unit 4 of Teesta Low Dam Project-IV.

"The unit 4 of Teesta Low Dam Project-IV (160 MW) has been successfully commissioned at its full load of 40 MW on August 11, 2016 at 01:00 hrs," NHPC said in a BSE filing.

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Gamesa bags 40 mw wind power proj from KCT Renewable Energy * Gamesa today announced bagging of a 40 mw wind power project from KCT Renewable Energy Pvt Ltd.

It will be responsible for the supply, erection and commissioning of the wind farm, the company said in a statement, it said adding that the project essentially comprises 20 units of G114-2.0 MW T106 turbines which are due to be commissioned by March 2017.

"This order confirms that technology is a key differentiator, which enables customers to trust our wind energy capabilities. Our proven expertise in the wind domain has helped us develop a strong footing in the renewable energy space, which helps us cater to the needs of customers better," Ramesh Kymal, Chairman and Managing Director, Gamesa India said.

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ItzCash joins hands with RBL Bank for RuPay wallet service * Digital payments company ItzCash has joined hands with RBL Bank to launch RuPay platinum wallet service.

"ItzCash has partnered RBL Bank to launch country's first co-branded RuPay Platinum Prepaid Card. The multi-purpose prepaid wallet powered by the homegrown digital payments facilitator RuPay, will roll out a suite of prepaid services across physical and virtual platforms," ItzCash said.

It will offer cash transactions services for general spend, online shopping, in-app payments, ATM cash out, gifting and corporate rewards purposes.

Faircent raises USD 1.5 million from media firm BCCL

* Peer-to-peer lending platform Faircent.Com today said it has raised USD 1.5 million from media company BCCL.

The P2P platform, which caters to retail and business segments, has raised the money from Brand Capital, the ad-for- equity investment arm of the company, a statement said.

"More people need to be made aware of the alternate investment opportunity that we provide and this will help us take a step closer to provide easier and cheaper access to the credit market in India," Faircent Founder and Chief Executive Rajat Gandhi said.

Faircent has over 6,000 and 26,000 registered lenders and borrowers, respectively, and disbursed loans of Rs 6.5 crore in the last two years, the statement said.

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Kotak Mahindra Bank ties up with Flipkart * Kotak Mahindra Bank (KMB) and Flipkart have entered into a tie-up which the private lender's mobile banking application will have the e-commerce major's mobile site.

The special tab will help the bank's customers to avail specially-curated deals, and convenient checkouts as required fields on their shipping address get filled up automatically and ensure faster payments, KMB Chief Digital Officer Deepak Sharma said.

Stating that the bank is seeing a faster traction on mobile banking, he said the lender is targeting to get half of its mobile banking users to shop using the app, for which it will be announcing more such tie-ups in the future.

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Shivalik Bank to sell LIC insurance policies in a tie-up pact * Shivalik Bank has tied-up with LIC to sell life insurance products of the country's biggest insurer across its branches.

"Shivalik Mercantile Co-operative Bank announces its strategic bancassurance partnership with the country's largest life insurer in public sector, Life Insurance Corporation of India," the bank said in a statement.

The tie-up arrangement was signed by Shivalik Bank MD&CEO Suveer Kumar Gupta and Suparno Chakravorty, Regional Manager North Central Zonal Office Kanpur, LIC.

First Published: Thu, August 11 2016. 19:57 IST
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