Centrum Capital teams up with Indiareit Ramesh Jogani for realty fund

 

MUMBAI: Mumbai-based financial services company Centrum CapitalBSE 1.85 % has teamed up with the former head of property fund Indiareit Ramesh Jogani to form a real estate private equity joint venture company, India Property Advisors (IPAL), which will soon launch its first offering — the Mumbai Residential Opportunity Fund.

The maiden offering, with a size of Rs 250 crore and a green-shoe option of Rs 100 crore, will seek to tap the opportunities arising from wide differences in pre-launch prices of new projects in Mumbai compared to the completed apartments. "The fund will invest in bulk residential apartments in select projects in the city at attractive price points and stages," said Jogani, without disclosing exact terms of the joint venture. 

COMMENT:
This is our second foray after the $100-million progressive India Fund launched in joint venture with Commonwealth Finance Corporation," said Rajnish Bahl, group managing director of Centrum Group

TANU
PGDM-3SEM

Rural women in Uttar Pradesh to get loan at three per cent

                LUCKNOW: The government today announced that women belonging to the rural areas of Uttar Pradesh would get loan at the rate of three per cent from the cooperative banks, Cooperatives minister of UP, Shivpal Singh Yadav said here.

"With the help of Rashtriya Pichda Varg Vitt Vikas Nigam, UP Cooperative Rural Development Bank Limited will provide loan to rural women at the rate of three per cent under the mahila gramin samriddhi yojna," the senior Cabinet minister said.

"One woman would be able to get a loan of Rs 50 thousand to Rs one lakh from the bank", Yadav said.

He said that all the women coming to the bank for loan will get the same.

The cooperative banks, he added, was on the brink of closure during the BSP rule with the employees not getting salaries.

COMMENT: Samajwadi Party government helped the bank with Rs 1,650 crores and the bank which was running into losses of Rs 204 crores was today in a profit of Rs 88 crores", 

PRADEEP 

PGDM-3SEM

PSU bank employees to go on nation-wide strike on November 12 to press for wage revision 

 

NEW DELHI: Normal banking operations like cheque clearance in public sector banks across the country are likely to be hit on Wednesday as employees have decided to go on one-day nation-wide strike to press for wage revision.

"In negotiations held today, Indian Banks' Association (IBA) stuck to its earlier stand of 11 per cent (wage hike) despite unions scaling down their demand to 23 per cent. Consequently, the conciliation ended in failure," United Forum of Bank Unions (UFBU) Conven ..

Hence, the call for strike on November 12 stands, he added.

"We have scaled down our demand from 25 per cent to 23 per cent, but IBA is not yielding. It has been sticking to its earlier offer of 11 per cent which is not enough," Ashwini Rana, General Secretary of National Organisation of Bank Workers, said.

Banks, including the country's largest one SBI, has already informed customers about the inconvenience they are likely to face on Wednesday.

"UFBU has given a not .. "UFBU has given a notice to IBA calling for nationwide bank strike on the November 12 and All-India State Bank Officers' Federation and All-India State Bank of India Staff Federation being a part of UFBU will also participate in the said strike," SBI said in a statement.

"Since the said call is given at all-India level covering all banks, the bank will not be impacted separately," the statement said.

Today's meeting before the Chief Labour Commissioner today ended in a deadloc .. 

There are 27 public sector banks in the country with a combined employee strength of about 8 lakh. There are about 50,000 branches of these banks across the country.

There are 27 public sector banks in the country with a combined employee strength of about 8 lakh. There are about 50,000 branches of these banks across the country.

There are 27 public sector banks in the country with a combined employee strength of about 8 lakh. There are about 50,000 branches of these banks across the country.

There are 27 public sector banks in the country with a combined employee strength of about 8 lakh. There are about 50,000 branches of these banks across the country.

There are 27 public sector banks in the country with a combined employee strength of about 8 lakh. There are about 50,000 branches of these banks across the country.

COMMENT:

There are 27 public sector banks in the country with a combined employee strength of about 8 lakh. There are about 50,000 branches of these banks across the country

ANAND MAURYA
PGDM-3SEM