NCR Corporation appoints Kunwar Arora as India services leader

Kunwar Arora joins NCR with over 27 years of experience

NCR Corporation, today announced the appointment of Kunwar Kishore Arora as Country Head for NCR Services India. Kunwar will be based in Mumbai and responsible to lead NCR’s services strategy and expand its services foot-print across the country.

Kunwar joins NCR with over 27 years of experience working on challenging and diverse assignments with multi-national organisations in India, the USA and Africa. Prior to NCR, Kunwar worked with Bharti Airtel Ltd - the world’s fifth largest telecommunications company, and responsible to manage a wide portfolio including data centers, managed services and security driving significant revenue growth.

With the relaxation of Reserve Bank of India (RBI) norms, today, most banks in India are opting to outsource management of its ATM channel to specialist like NCR to help lower costs, increase availability, improves customer experience and offer better return-on-investments. According to the National Payment Corporation of India (NPCI), NCR manages over 20,000 ATMs for public and private sector banks in India –- the largest by any service provider in the country.

NCR offers a complete portfolio of services to help companies design, deploy, support and manage their technology solutions for higher availability at all times.
“By further strengthening our services team, NCR is investing and reinforcing its commitment to the India market that offers significant opportunity for growth.” said Jaivinder Gill, MD, NCR India. “Kunwar’s diverse experience and his proven ability to manage dynamic global organizations make him an excellent choice to lead the NCR India services team to accelerate NCR’s growth strategy and self-service leadership position.” added Mr. Gill.

“Consumers today are demanding banking solutions to be available how, when and where they choose. Thus it is extremely important for banks to ensure maximum availability of its ATM services. NCR provides benchmark standards of end-to-end management of the ATM network,” said Kunwar. “I am looking forward to leading NCR’s world-class services team in India and working closely with our customers and partners helping them to profitably grow their business.”

Kunwar holds a Bachelor’s degree from Punjab University and earned an MBA degree from the BK School of Business Management in Ahmedabad.

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Olympic Cards to launch IPO soon

Olympic Cards proposes to expand its retail marketing through establishing four more direct retail outlets in addition to six own retail outlets it already has.

Olympic Cards Ltd, a five decade old company, plans to enter the capital markets with a public issue of up to Rs27 crore to fund its proposed expansion plan for retail and manufacturing. It had filed DRHP with Sebi for the purpose and has received Sebi nod. Ashika Capital Limited is the sole BRLM for the Issue.

The Chennai-based company proposes to expand its retail marketing through establishing four more direct retail outlets in addition to six own retail outlets it already has. Presently, the company is operating through direct outlets located at various places across Tamil Nadu. The company is operating through 5 franchisee outlets as well and intend to set up more franchisee outlets so that there is more equitable distribution of its outlets across the country. All these retail outlets shall operate under its brand name “Olympic”.

Under the brand “Olympic”, the company is one of the leading manufacturers of paper / board based products, with a strong presence in southern India. Olympic Cards Ltd is presently engaged in the business of manufacturing and trading wedding invitation cards, greeting cards, envelopes, letter heads, business cards, calendars, notebooks, account books, etc.

Olympic Cards Ltd proposes to utilize part of the money raised through this IPO to fund its expansion plan of setting up a new manufacturing unit near Chennai in addition to establishing four  own retail outlets. The company’s total income for the year ended 31 March 2011 was Rs45.72 crore and profit after tax was Rs2.18 crore as against total income of Rs34.86 crore and PAT of Rs 1.29 crore for the year ended 31 March 2010.

Olympic Cards at present has three manufacturing facilities at Chennai and its average production of cards per day is approximately 1,50,000 number of cards. Some of the competitive strengths of the company are existence of the group in the business for over four decades; large-scale, versatile manufacturing infrastructure; high-quality products; cost-efficiencies through scale, experience and technology and research and development facilities.

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Govt to present Budget for 2012-13 on 16th March

The Budget Session will begin on 12th March with president Pratibha Patil addressing the joint sitting of members of both the Houses of Parliament. While the rail budget will be presented on 14th March, the Economic Survey will be tabled on 15th March and the Union Budget on 16th March

New Delhi: Finance minister Pranab Mukherjee will unveil the Union Budget for 2012-13 on 16th March in the Lok Sabha, reports PTI.

The Budget Session will begin on 12th March with president Pratibha Patil addressing the joint sitting of members of both the Houses of Parliament.

While the rail budget will be presented on 14th March, the Economic Survey will be tabled on 15th March.

“We will be recommending to the president that Budget Session may be summoned on 12th March and continue up to 30th March. Address by the president would be on 12th March. Rail budget on 14th March and Union Budget on 16th March,” parliamentary affairs minister Pawan Kumar Bansal said.

Mr Bansal was talking to reporters after the meeting of the Cabinet Committee on Parliamentary Affairs (CCPA) headed by finance minister Pranab Mukherjee.

He further said that the second part of the budget session will be held from 24th April to 22nd May.

The Budget Session, which generally starts in the third week of February, has been delayed this time due to the ongoing assembly elections in five states, including Uttar Pradesh. The model code of conduct is in force till 9th March when the election process would be completed.

 

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