NHB enters 50 million euro deal with Germany’s KfW

New Delhi: Housing finance regulator National Housing Bank (NHB) today said it has entered into a 50 million euro (around Rs298 crore) agreement with Germany-based development bank KfW for promoting energy efficient housing in India, reports PTI.

The programme is expected to address a niche market segment for promoting energy efficiency in the Indian housing sector and is aimed at reducing energy consumption by 30 per cent in residential projects, NHB stated.

"NHB executed an agreement with KfW, Germany (the development bank of Germany) to promote energy efficient housing in India... under which NHB will borrow an amount of 50 million euro...," the housing finance regulator said.

It said that the initiative is an outcome of a dialogue process between the governments of India and Germany for promotion of a programme on 'Energy Efficient New Residential Housing in India', for which NHB will act as the implementation agency.

"As per estimates, the residential housing sector accounts for approximately 30% of the total energy consumption in the country. Promotion of energy-efficient residential housing is also an important objective laid down in the National Urban Housing and Habitat Policy, 2007, formulated by the government of India...," it said.

The programme envisages lending by NHB for individual housing loans through primary lending institutions for purchase of apartments in certified energy efficient projects.

The two partners have appointed an international consultant for the project.

The programme seeks to save energy levels in residential housing to the extent of 30% through both active and passive measures viz. adopting an efficient architectural design, using construction material of required standards, installing energy efficient electrical, electronic appliances.

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Destimoney Securities appoints Sudip Bandyopadhyay as president

A charted accountant by profession Sudip Bandyopadhyay has over 23 years of experience in the financial sector

Destimoney Securities has appointed Sudip Bandyopadhyay as the president. Destimoney Securities which was earlier wholly owned by the reputed PE Fund, New Silk Route (NSR), is undergoing a restructuring exercise and Mr Bandyopadhyay, erstwhile MD of Reliance Money is expected to lead the company in its next phase of growth.

As part of the restructuring exercise, the company plans to infuse around Rs40crore through new investors, including Dhanlaxmi Bank. Dhanlaxmi Bank proposes to invest Rs13 crore for a 15% stake, subject to regulatory approvals. The strategic investment is expected to reinforce the bank's commitment to be an integrated financial solutions company.  

Mr Bandyopadhyay will build and lead a new team comprising new and existing resources. The new team will be expected to expand and grow the business by adding new customers and expanding in new locations.  

Mr Bandyopadhyay has over 23 years of experience in the financial sector; he has been responsible for building Reliance Money into the country's largest broking and distribution house. He has also been instrumental in taking Reliance Money international through various innovative tie-ups and acquisitions.  

A charted accountant by profession, Mr Bandyopadhyay started his career as a management trainee with HLL and has worked across multiple assignments in the area of capital market, money market and current market operations. Prior to this, he also had a stint as head, Centralized Treasury and Investments at ITC.

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Abhay Bongirwar takes charge as MD & CEO of IDBI Capital Market Services

A distinguished banker and having around three decades of experience Abhay Bongirwar joins as MD & CEO of IDBI Capital Market Services

IDBI Capital Market Services Ltd has appointed Abhay L Bongirwar, CGM-IDBI Bank has the managing director & CEO of the company. Accordingly, Mr Bongirwar has taken over charge from Nagendra Bhatnagar with effect from 31st December.

Mr Bongirwar is a distinguished banker and has a wide experience of around three decades in IDBI Bank in project appraisal, investment banking, corporate banking at large with particular experience in infrastructure, retail banking, corporate debt restructuring and HRD/Training etc. His rich experience in these fields will definitely be immensely useful for the future growth of IDBI Capital.

Mr Bongirwar is a post graduate in Maths and an AICWA, management graduate from JBIMS and CAIIB and has maintained a meritorious academic record right through. He has been entrusted with this position to take the present business of IDBI Capital to much higher heights to realise the position as one of the leading investment bank in the country. This is in line with focus of IDBI Group to strengthen its position in all financial services sector such as investment banking, broking, mutual fund, insurance and IT services by providing a complete basket of products to both its retail and corporate customers.

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