With this tie-up, the two financial entities will be able to leverage their combined expertise to open up mergers and acquisitions, joint ventures, equity raising, and merchant banking opportunities for their respective clients
Private sector lender YES Bank and Poalim Capital Markets, a leading Israeli investment bank and a part of Bank Hapoalim BM, today said they have entered into a co-operation agreement to advise Indian and Israeli firms on cross-border deals, reports PTI.
The alliance will help augmenting the investment flow in the Indo-Israeli corridor.
With this tie-up, YES Bank and Poalim Capital Markets will be able to leverage their combined expertise, strong local knowledge and excellent corporate relationships to open up mergers and acquisitions, joint ventures, equity raising, and merchant banking opportunities for their respective clients.
YES Bank's managing director and CEO Rana Kapoor said, "This alliance with Poalim Capital is another step forward in our commitment towards the Indian and Israeli business corridor. This privileged partnership will enable us to further enhance our investment banking services and facilitate overall development of both the nations through strategic interventions."
Poalim Capital Markets’ CEO and president Amir Aviv said, "In our strategic plan for 2010, we marked India as an important geography to expand our investment banking capabilities, and after careful consideration of various alternatives we decided to join forces with YES Bank.
India has 10% of the world's coal reserves, and it plans to add 78.7 gigawatt of the power generation capacity during the 11th Five Year Plan, with most of it emanating from coal
India's greenhouse gas emissions (GHGs) have increased by 58% to 1.9 billion tonnes between 1994 and 2009, primarily from coal-based power sector that nearly doubled its carbon footprint, reports PTI.
"The growth in the power sector would inevitably result into the expansion of the carbon footprint in the sector," according to a joint study by Assocham and Ernst & Young.
India has 10% of the world's coal reserves, and it plans to add 78.7 gigawatt of the power generation capacity during the 11th Five Year Plan, with most of it emanating from coal, it added.
The study further said the power sector accounted for 719.30 million tonnes of emission until recently against 355.03 million tonnes in 1994.
GHGs emissions from various sectors such as power and transportation are the main cause for global warming.
Aimed at complying with upcoming climate regulations and achieve growth in a low carbon sustainable trajectory, Indian industries would also have to reduce their carbon footprints significantly, the study said.
"They will have to monitor, report and get their emissions externally verified, strengthen strategic and operational actions on mitigation voluntary emission intensity reduction target by 2020, as they would be subject to individual carbon emission caps or sectoral energy benchmarks," it said.
India at the Copenhagen Climate Summit last year has voluntarily pledged to cut its carbon emission intensity by 15% to 20% by 2020 and is in the process of taking various steps to move towards low-carbon growth path.
The study has, however, predicted that, India's GHG emissions per-capita emissions would still be half the global average. "Coal gratification and demand side management initiatives would emerge as the most attractive technologies and shall receive immediate attention."
It, however, emphasised that individual companies need to strengthen their endeavour to increase the efficiency of their processes, explore alternative fuel usage and strategic investments in cleantech.
Food and agriculture minister Sharad Pawar today said the time is ripe to introduce reforms in public distribution system (PDS) by digitising the entire system, reports PTI.
"Computerisation of the entire network of targeted public distribution system (TPDS) operation is a must and should be completed in a time-bound manner," Mr Pawar said at a conference of food secretaries in New Delhi.
He said the government has already initiated the process of computerisation of PDS network up to the Food Corporation of India (FCI) delivery point.
"It is essential that our efforts in this direction to be accelerated so as to cover the entire distribution chain from the procurement process and ending with retail distribution at fair price shop level," Mr Pawar said while adding, states should also simultaneously take up such networking at their end.
The minister said, use of technologies such as global positioning systems (GPS) for tracking of movement of PDS commodities, bar-coded ration coupons, digitisation of ration card database and smart cards would also help in bring changes in the system and it need to be taken up.
"The time has come to have a re-look at the way it has been functioning and introduce reforms so as to make our TPDS more efficient and responsive to the changing socio-economic milieu," Mr Pawar said.