Encore Asset Reconstruction Company (Encore ARC) Tuesday announced appointment of SS Mundra, a former deputy governor of the Reserve Bank, on its advisory board.
Encore ARC is a subsidiary of international specialty finance company Encore Capital Group of the US.
Mundra's career spans over four decades. In addition to his role as deputy governor at the RBI, he has served as chairman & managing director of Bank of Baroda. Prior to that, he held other senior positions in the banking industry such as chief executive (European Operations) for Bank of Baroda and executive director of Union Bank of India.
Currently he serves on the boards of BSE, DSP Investment Managers and Indiabulls Housing Finance.
Encore ARC is a joint venture between the San Diego based Encore, the IFC, and the Asian PE fund ADV Partners and focuses on resolving MSME & retail distressed debt.
L&T Infotech arm open excellence centre in B'luru Larsen & Toubro's infotech arm LTI Tuesday inaugurated a centre of excellence in Bengaluru which will focus on developing internet of things-based innovations.
The facility, which will focus specifically on Industry 4.0 solutions in manufacturing and oil and gas sectors, has been started in association with PTC, an official statement said.
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