Religare Global Asset Management appoints Alan Berkshire as president—North America

Alan brings to RGAM 20 years of experience in structuring and executing strategic business transactions

Religare Global Asset Management (RGAM), a wholly-owned subsidiary of financial services group, Religare Enterprises, said that it has appointed Alan Berkshire as the president-North America.

RGAM's strategy is to acquire equity stakes in top-tier asset management firms around the world with proven performance and capabilities in traditional as well as alternative asset classes. RGAM aims to facilitate the growth of its affiliates by providing wider sales and distribution support and facilitating access to capital and deal flow in countries where Religare's broader financial services platform has a presence.

RGAM platform has about $11.5 billion of assets under management. Alan joins RGAM with over 13 years of experience in the asset management industry, most recently as a founding partner of Estancia Capital Management, LLC and prior thereto having served for over 10 years at Nuveen Investments Inc., where his roles included Member of the Office of the Chairman, Head of the Institutional Services Group, Head of the Closed-end Fund/Structured Product Group, and General Counsel. Alan also brings to RGAM 20 years of experience in structuring and executing strategic business transactions and equity ownership arrangements at Nuveen Investments and at the international law firm Kirkland & Ellis LLP, where he was a partner before joining Nuveen.

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NPCI ties up with BoI for “RuPay” cards

The card, named “Dhan Aadhar”, has the 12-digit Aadhar number given by the Unique Identification Authority of India, besides the conventional 19-digit number

The indigenous alternative in the payments space to Mastercard and Visa, RuPay, took a big stride with Reserve Bank of India-promoted National Payments Corporation of India (NPCI) launching the card in partnership with Bank of India. Bank of India becomes the fourth partner bank for NPCI. Over the past two months, it has tied up with three regional rural and co-operative banks and distributed 10,000 cards, NPCI's managing director and chief executive AP Hota said.

The card, named "Dhan Aadhar", has the 12-digit Aadhar number given by the Unique Identification Authority of India, besides the conventional 19-digit number. It also carries a photograph of the accountholder, which helps it serve as an ID-card like a passport, Bank of India chairman and managing director Alok Misra said. The Padgha village was chosen for the launch as all the residents in the local gram panchayat have already got Aadhar numbers, he said. Hota said his organisation has already integrated with the servers of the UIDAI which would enable it real time access to cross-verify details like biometrics and photograph.

Through this card, an accountholder can transact by giving thumb impression at a terminal manned by a business correspondent in the rural areas while it can act like a conventional card at an ATM, where the accountholder will have to give a four-digit PIN, he added. When asked if it will also allow transactions at merchant outlets and work like a debit card, Hota replied in the negative. The NPCI would be required to do more integration and call for more regulatory clarity to do so, he said.

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Carrefour to offer online shopping in India

Carrefour is building an IT platform that will enable its customers to shop online

Looking to tap and engage tech savvy business establishments in India effectively, French retailer Carrefour is building an IT platform that will enable its customers to shop online.

"We are in the process of building a platform for e-enablement to engage them (customers) effectively," Carrefour WC&C India director-IT supply chain and organisation Subhodip Bandyopadhyay told PTI.

Carrefour that currently has only one cash and carry store in India here at the capital offers multiple channels of engagement to its registered customers such as phones, e- mail and direct contact on the shop floor.

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