Page 24 - Banking Finance MAY 2017

NEWS FLASH

NEWS FLASH

' The drug price regulator will increase the price of ' Indian Overseas Bank cuts base rate by 20 bps ef-
stents by around 2 per cent fective April 1
' E-filing for 2 ITRs launched by I-T dept ' NPPA identifies 634 suspected cases of overcharg-
' Service charge exemption on train e-ticket ing
' President agrees to Finance Bill ' CSR: 400 companies have spent Rs. 5,857 crore in
two years
' YES Bank collects Rs. 4,906 crore via a qualified
institutional placement. ' GSTN to encrypt tax data, add two layers of secu-
' Tata Steel has achieved its highest-ever annual rity
sales volume of 10.94MT in FY17 ' Now, new companies can get PAN within a day
' Banker Madhabi Puri Buch took charge as Whole ' Super-rich list swells to 283 from 195 last year
Time Member of capital market
' All GST bills passed in Lok Sabha
' The asset base of the local mutual fund industry
' UDAN: Government awards 128 regional routes
has surges 35 per cent
' Snapdeal misses out on funding
' Amazon.in said it has set up seven new ware-
houses to cater exclusively to its large appliances ' Banks for relaxed RBI norms on bad loans

' India adds 5,400 MW wind power in 2016-17 ' Air India hopes to post profit sooner
' Tax returns simplified for 20 million taxpayers ' Airtel sells 10.3% in Bharti Infratel

JLL sells India housing brokerage to former country head Anuj Puri

Real estate consulting firm JLL is selling its India residential brokerage arm to its former India head Anuj Puri. Puri, who
left the firm earlier this year, had worked closely with the JLL India and Asia Pacific leadership teams to complete the
acquisition of Jones Lang LaSalle Residential Private Ltd (JLLR) and now will lead a team of 200 residential brokers
across eight Indian cities. Ashwinder Raj Singh will continue in his role as CEO of JLLR, reporting to Puri.
"With his faultless track record in Indian real estate and his passion for the residential sector, Anuj is the best person
to continue to build this business and we wish him every success in his future endeavours," says Ramesh Nair, CEO &
Country Head, JLL India. "This has been a smooth and well-planned process as Anuj transitions to his new ventures. For
JLL, it is a strategic move that will allow us to focus on new growth areas for our India business and continue to offer
best-in-class real estate advice and services to our clients." JLL is India's largest real estate consulting firm with an
extensive geographic footprint across 11 Indian cities and over 9,000 employees.

Kerala Co-Operative Bank to be reality in less than two years

The proposed Kerala Co-Operative Bank, an ambitious initiative of the CPI (M)-led LDF state government, is likely to
become a reality in 18 months with a committee submitting its report on its formation. The government had debated
the bank with the aim of strengthening the cooperative sector in the state. The expert committee, headed by M.S.
Sreeram of Indian Institute of Management (IIM) Bangalore, entrusted with the study of various aspects of the pro-
posed bank, submitted the report to chief minister Pinarayi Vijayan with detailed recommendations for its formation.

24 | 2017 | MAY | BANKING FINANCE

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