Latest News | Business Briefs *Union Bank of India Launches 6 Products

Mumbai, Nov 11 (PTI) State-owned Union Bank of India launched six products on the occasion of its 103rd Foundation Day on Thursday.

The new products include Union Virtual Connect – UVConn; Union DigiConnect Branches; Multilingual Finacle; Union Green Deposit; Union Roof Top Solar Scheme and Union Green Mile, the bank said in a release. *** *HDFC Bank, Manipal Business Solutions partner for corp biz correspondent relationship

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HDFC Bank on Thursday signed an agreement with Manipal Business Solutions (MBS) for a corporate business correspondent relationship.

MBS with its reach and expertise will act as a banking point catering to collection and payment of small deposits and withdrawals in areas which are unbanked, furnish mini account statements and other account information, the lender said in a release.

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This will also provide digital solutions and finance options to small traders and merchants, it said.

*** Runaya gets BBB+ rating from Crisil

Manufacturing start-up Runaya on Thursday said Crisil has assigned it a long-term rating of BBB+/Positive. The rating reflects high revenue visibility due to the presence of long-term supplier and customer contracts, strong financial flexibility, and the expectation of healthy return ratios driven by strong performance and efficient working capital management, according to Crisil. The positive outlook reflects the expectation that Runaya will sustain the ramp-up in revenue while also improving its operating margins, which could subsequently result in a rating upgrade. Crisil also expects the return ratios to be robust due to healthy profit.

(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)