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Business Economy

Japan's softbank shows interest in Punjab's real estate sector

Chandigasrh, Aug 13 (UNI) Japan’s leading conglomerate, the Softbank Group, on Tuesday shared with Chief Minister Captain Amarinder Singhs its plans to invest in Punjab’s real estate sector, with focus on student housing through their flagship OYO startup.
A high-level delegation of the Group, led by its MD Hiroki Kimoto, called on the Chief Minister, who extended his government’s full support in the realization of Softbank’s investment plans in the state.

Captain Amarinder assured the delegation of seamless and smooth investment in the state through its single-window clearance platform, Invest Punjab, in the fast-track mode. The new Industrial Policy, coupled with lucrative incentives and facilities, was facilitating investors in a big way, with over Rs 50,000 crore investment already realized on the ground during past over two years, he said.
Earlier, briefing the delegation on the various investible projects, ACS Investment Promotion and Industries & Commerce Vini Mahajan said that Punjab had a vibrant real estate sector, with areas around Chandigarh seeing excellent growth. Punjab has witnessed over Rs 2,000 cr e-auctions over the last two years. Reputed international players are looking at affordable housing, student and senior citizen housing facility as a potential investment sector, she added.
Taking part in the deliberations, Lovely Professional University Vice Chancellor Ashok Mittal said they were in advanced talks with Softbank for a potential collaboration for the construction of student hostels, as there was a huge demand for hostel facility for the domestic as well as international students.
Notably, Softbank is one of the biggest investors in the Indian startup ecosystem, with approximately 20% of their investments in India-based businesses. The company has backed many of the domestic unicorns such as Ola, the largest ride-hailing aggregator; Oyo, the fast-growing hotel booking platform; and PayTM, the pioneer in electronic payment. Currently, the Group is investing from their technology focused $100 billion Vision Fund, with FinTech startups a key focus area. Last month, the Group had announced its second technology focused fund - Vision Fund II, with a committed capital of $108 billion which will focus on AI-based technology and Real Estate.
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BOI organises consultation meeting in Hyderabad

18 Aug 2019 | 6:17 PM

Hyderabad, Aug 18 (UNI) Taking forward the agenda of reforms in public sector banks, the department of financial services, Government of India has initiated a multi-layered consultation process and new suggestions at the branch level.

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UCO bank contemplating to further reduce its lending rates

18 Aug 2019 | 5:16 PM

Ahmedabad, Aug 18 (UNI) Public Sector UCO Bank which recently reduced its marginal cost of funds - based lending rate (MCLR) by 15 basis points making its home and car loans cheaper by as many points said on Sunday that it was contemplating to further reduced it.

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HDFC bags ‘India’s Best Bank’ at Euromoney Awards for Excellence 2019

18 Aug 2019 | 2:39 PM

Mumbai, Aug 18 (UNI) HDFC Bank has been awarded ‘India’s Best Bank’ at the Euromoney Awards
for Excellence 2019, an official statement said on Sunday.

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Armines Industries launches new, ready-mix plaster plant in Cacoda Industrial estate

17 Aug 2019 | 7:58 PM

Margao, Aug 17 (UNI) Goa based Armines Industries recently launched a first-of-its-kind, ready-mix plaster manufacturing factory in the Cacoda industrial estate.

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Ahmedabad Oil Market rate

17 Aug 2019 | 4:26 PM

Ahmedabad, Aug 17 (UNI) Ahmedabad Oil Market showed a firm trend here on Saturday.

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