Page 28 - Banking Finance April 2018

PRESS RELEASE

HUDCO Pays Rs.110.10

crore Dividend for FY 2017-

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Dr. M Ravi Kanth, CMD HUDCO presented
interim dividend of Rs. 76.05 crore to Shri
Hardeep S Puri, Hon'ble Union Minister
(Housing & Urban Affairs), in the presence of
Shri DS Mishra, Secretary (HUA), and other
senior officials of the Ministry. HUDCO also paid
dividend of Rs. 22.83 crore to the Ministry of
Rural Development, and Rs.11.22 core to other
share holders, HUDCO being a listed company.

Mahindra & Mahindra partners with Standard Chartered to become

first corporate to complete SWIFT domestic payment

Mahindra & Mahindra Limited, in partnership with Standard enable us to consolidate our banking connectivity,
Chartered Bank, has become the first Indian corporate to streamline communications, and create a more efficient
successfully complete domestic payments via the SWIFT payment environment. Going forward, we hope to leverage
India platform. Mahindra selected SWIFT to streamline and the same for trade and forex as well "
rationalise its banking channels using a single and
Sanjay Gurjar, Managing Director and Head, Transaction
standardised connectivity platform.
Banking (India and Nepal), Standard Chartered Bank, said,
The adoption of SWIFT India will bring in process efficiencies "We have been working with SWIFT across our markets and
through the use of a single, bank agnostic platform and are pleased to announce that Mahindra is the first
standardised payment formats for both global and domestic corporate to route domestic cash payments using their
flows, while leveraging a platform that is known for its SWIFT India Infrastructure through Standard Chartered
security, reliability and STP (Straight-Through Processing) Bank. We have a long-standing partnership with Mahindra
capabilities. and this development is an important milestone for all of
us."
Zarin Daruwala, CEO, India, Standard Chartered Bank, said
"At Standard Chartered Bank, our endeavour is to be at the Kiran Shetty, Chief Executive Officer, SWIFT India, said:
forefront of cutting-edge banking technology and to be the "India is quickly moving toward a digital ecosystem and
digital bank of choice for our clients. In continuation of this, corporates such as Mahindra are leading the way by
we have been working closely with Mahindra to take a lead adopting the most recent technologies and standards.
on their digitisation journey and are pleased to partner with
As the global and domestic payments landscape needs more
them on their new-age digital initiatives."
than ever to be interconnected, we believe that the
VS Parthasarathy, Group CFO & Group CIO, Member of the adoption of common standards and best practices is the key
Group Executive Board, Mahindra & Mahindra Limited, for multi-national corporations to be ready for the business
said, "Mahindra is proud to lead Corporate India's Digital challenges ahead of them. Standard Chartered Bank has
transformation by being the first Indian Corporate to use been among the first adopters of this platform and is
the SWIFT platform for payments within India, in proactively working with its clients on establishing secured
partnership with Standard Chartered Bank. SWIFT will payment models".

28 | 2018 | APRIL | BANKING FINANCE