Yes Bank operations from Jan
Yes Bank, a new private sector bank, is set to commence operations by January-end. “We have completed all necessary formalities, including achieving the financial closure, and have submitted the details to the Reserve Bank of India,” Rabo India finance CEO Rana Kapoor, one of the promoters, said.On achieving the financial closure, Kapoor said Rabo Bank would have 20 per cent stake, while CVC (a Citigroup firm), Russell Asian Infrastructure Fund and Chryscapital would have 10 per cent, 7.5 per cent and 7.5 per cent stake, respectively. While 3 per cent has been kept aside for the top management, the balance 52 per cent would vest with Kapoor and Askok Kapur, another promoter of the bank, he added.
SAP India, a business software solutions provider, has announced its industry-specific channel partners for small and mid-size businesses. The partners include Mahindra Consulting Ltd, offering customised solutions for the automotive suppliers industry, and Ygyan Consulting, offering solutions for the engineering and constructions, pharmaceuticals and textile industries.
Mentor Graphics Corporation, an electronic hardware and software design solutions and services provider, has expanded its research and development sites in Hyderabad and Noida. These centres together form the largest R&D hub of the company outside the US.
MK Electric, a leading company in modular switches and electrical accessories worldwide, has attained the environment, health and safety management system certification. It now has a twin certification of ISO 14001 for environmental management system and ISO 18001 for occupational health and safety assessment series, signifying an adherence to a perfect balance between environmental issues and corporate goals.
Sutherland Group Ltd, a leading player in the global BPO industry, has entered into a strategic alliance with Dallas- based Isani Group, a management consultancy focused on maximising the value of offshore initiatives. The partnership focuses exclusively on the requirements of Global 1000 customers in the UK and the US.
Tata Refractories Ltd has won an export award from Capexil, an agency sponsored by the ministry of commerce for export promotion. The company has been receiving this award continuously for last 10 years.
Yash Tech plan
Yash Technologies, an IT solutions provider, has acquired Global Core Software, a SAP business partner. As part of the acquisition, Global Core Software has changed its name to Genesis Corporate Solutions, LLC. As a new division of Yash, Genesis will expand its SAP solutions portfolio for small and mid-size businesses and extend Yash’s operational network.