It is a 100 per cent subsidiary of private lender Federal Bank.
With this new branch addition, the NBFC's total number of branches will cross 130, the company said.
Most of these branches will be opened in tier II and III cities of Tamil Nadu, Karnataka and Andhra Pradesh.
For the fiscal ended March 31, 2017, the company reported a 83 per cent growth in net profit at Rs 22.50 crore. ---------------------------
Financial services firm IIFL Holdings today said it has appointed veteran banker Shubhalakshmi Panse as an Independent Director of its group non-banking finance company India Infoline Finance, with effect from May 31.
She was a member of the P J Nayak committee constituted by RBI for Corporate Governance in Banks. Panse was also a member of a panel set up by RBI for recommending the names of companies for setting up Payments Bank after going through the applications received from various firms.
India Infoline Finance's loan assets under management stood at Rs 22,300 crore at the end of March 2017.
Urban Ladder appoints former-Arvind hand Jaipal Singal as CFO
Furniture and home decor brand Urban Ladder, today announced the appointment of Jaipal Singal as Chief Financial Officer with immediate effect.
Singal comes to Urban Ladder from Arvind fashion brands, and has previously been associated with Marks & Spencer and Mahindra Retail, a company statement said.
In the last six months, Urban Ladder has made a strategic shift to open new distribution channels to achieve the next phase of growth.
Retail will be a big focus area for Urban Ladder going forward with its first retail store opening in bangalore in July 2017.
Marriott International today announced the opening of Fairfield by Marriott in kathmandu, which marks its entry into Nepal.
Fairfield by Marriott is an established leader in the select service segment, with nearly 850 hotels around the world, the hospitality group said in a release issued here.
"We are very proud to debut in the kingdom of Nepal and introduce the Fairfield by Marriott brand as Marriott International's first hotel in the country," Vice President, Brand and Marketing Asia Pacific Mike Fulkerson said.
Uber brings driver compliments to 29 cities in India
Ridesharing platform the Uber today launched the ‘Driver Compliments’ feature.
Through this feature, Uber aims to make it possible for riders to to acknowledge and encourage good behaviour
"Last month, we launched community guidelines with the objective of encouraging mutual respect, and we are now excited to introduce ‘Compliments’," Pradeep Parameswaran, Head, Central Operation, Uber India, said.
New Delhi, Jun 1 Footwear brand Campus Shoes today said it plans to open 50 outlets across India by 2018, as part of its expansion plans.
The company, part of the Action Group, has recently opened three exclusive stores in the national capital.
More stores are coming up in the same region including nearby areas like NCR, Ghaziabad, Gurgaon, Faridabad, Bahadurgarh and Sonipat, Campus Shoes said in a statement.
The brand, which is targeting middle and upper middle markets, said the new outlets will have over 200 products based on performance attributes such as running, outdoor, lifestyle and training.
"Through these exclusive stores, we would also be able to educate our customers in a better way about the technology which goes into the making of Campus Shoes," Campus Shoes Managing Director Nikhil Aggarwal said.
New Delhi, Jun 1 The Dubai Airport Freezone Authority (DAFZA) has sought investments by Indian businesses in its zone.
The authority is exploring investment opportunities through promotional tours, meeting major Indian companies, investors and venture capitalists, DAFZA said in a statement.
It said the authority is developing services to help start-ups and attract more Indian businessmen and investors.
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Adobe launches 'Scan' app in India
*Software major Adobe today launched 'Adobe Scan', a free app to allow users to scan documents using their smartphones.
"...Users (in India) are relying on powerful, integrated mobile apps and services that help them to be more productive no matter where they are," Adobe Managing Director South Asia Kulmeet Bawa said.
Adobe invented PDF creation for PCs, and with Scan, the company is doing the same for a mobile-first users over the world, he added.
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Cisco and IBM join forces to tackle cybercrime *Global tech giants Cisco and IBM have partnered to address the growing global threat of cybercrime.
In a new agreement, Cisco and IBM Security will work closely together across products, services and threat intelligence for the benefit of customers, they said in a statement.
A recent Cisco survey of 3,000 chief security officers found that 65 per cent of their organisations use between six and 50 different security products. Managing such complexity is challenging over-stretched security teams and can lead to potential gaps in security.
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L&T Technology Services completes Esencia acquisition *L&T Technology Services Ltd (LTTS) today said it has completed the acquisition of Esencia Technologies, a provider of design services.
San Jose-based Esencia will become a subsidiary of LTTS, it said in a statement.
Last month, LTTS had signed a definitive agreement to acquire Esencia for USD 27 million.
The acquisition will help LTTS deepen its offerings to global customers in the realm of wireless connectivity solutions, perceptual computing, Internet of Things and advanced silicon products.
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IAMAI creates EdTech Group to facilitate job creation *Internet and Mobile Association of India (IAMAI) has launched an EdTech group as part of its efforts to energise the education technology.
There is a dire need to transition to a skill-based, continuous education system and the need to bridge the divide between academia and industry, IAMAI said in a statement.
The mandate of the Group, therefore, is to identify opportunities and challenges and work with government, industry and job seekers to resolve them, it added.
Mumbai, Jun 1 Bhartiya Group's Chairman and Founder Snehdeep Aggarwal has been awarded the Knight of the Order of the Star of Italy "for his contribution to the promotion of bilateral ties between Italy and India".
"The company has been instrumental in the assimilation of Italy in the great Indian infrastructure and has contributed enormously to the spreading of Italian brands. The Star of Italy is awarded to those who, expatriates or foreigners, have especially contributed to the reconstruction of Italy," Ambassador of Italy to India H. E Lorenzo Angelonia said in a statement issued here.
Bhartiya Group, which has a nearly two decades of connection with Italy, started with an office in Florence, which then moved to Milan with the setting up of the design studio. Italian companies are its supply chain partners for the development of an affordable luxury product in India, the release said.