Latest News | Business Briefs Data Center Policy Important Step Towards Driving Necessary Regulatory, Structural Reforms: Patel
Get latest articles and stories on Latest News at LatestLY. The Data Center Policy 2020 is an important step towards driving the necessary regulatory and structural reforms in the industry, Minister of State for Commerce and Industry Anupriya Patel said on Wednesday.
New Delhi, Sep 29 (PTI) The Data Center Policy 2020 is an important step towards driving the necessary regulatory and structural reforms in the industry, Minister of State for Commerce and Industry Anupriya Patel said on Wednesday.
The policy will drive ease-of-doing-business in the sector, attract more investments and facilitate capacity building, she said at an Assocham event.
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MEITY's draft policy for data centers will also provide infrastructure status to the sector, Assocham said in a statement quoting the minister.
“Digital India is a priority for the government....The government also aims to attract Rs 3 lakh crore investment in the next 5 years as part of the Hyperscale data center scheme," she added.
************** Acuité first domestic agency to rate ESG credit
*Acuité Ratings & Research has become the first domestic credit rating agency to become a signatory to rate ESG instruments.
By signing the principles for responsible investments, Acuité has committed to incorporate ESG into credit ratings and analysis in a systematic and transparent way, it said in a note.
As of date, the statement is supported by over 170 investors with nearly USD40 trillion in collective AUM and 27 credit rating agencies over the world.
ESG factors are increasingly becoming relevant in the evaluation of the credit quality of borrowers. Acuité joins this significant initiative of the UN to incorporate ESG factors in a more meaningful way to make tomorrow's rating methodologies more accurate, said Antony Jose, chief rating officer at Acuité.
************** Data analytics player Ugam to hire over 1,000 freshers
* Data analytics player Ugam, now owned by the US group Merkle, will hire over 1,000 freshers from the engineering, statistics, maths, economics, and management streams through campus selection over the next few months.
Ugam has doubled its headcount since the onset of the pandemic to 3,000, Sunil Mirani, co-founder, and Chief Executive Officer of Ugam said, adding the company will visit around 75 colleges for this.
************** Northern Arc gets Rs 100 cr debt from SMBC of Japan
*Independent debt arranging platform Northern Arc Capital has raised Rs 100 crore debt from Sumitomo Mitsui Banking Corporation (SMBC), the second-largest Japanese banking group and the 14th largest globally, on behalf of its clients.
The debt being lent through Northern Arc clients is complementary to supporting the bank's efforts in furthering the sustainable development goals (SDG) goals in India, the debt platform said, adding the money will cater to the credit demand of small enterprises and agri-businesses.
Since 2009, Northern Arc has enabled financing for originator partners who have impacted over 54 million lives. Since the onset of the pandemic, it has raised funds from reputed international investors including, JICA, USDFC, ADB, and FMO.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)