Reliance Infocomm Wins Hsbc Award

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Reliance Infocomm wins HSBC Global Payments & Cash Management Partnership Award 

DAKC (Dhirubhai Ambani Knowledge City), Navi Mumbai, November 23, 2005

Reliance Infocomm has won the prestigious HSBC Global Payments & Cash Management Partnership Award for India for the year 2005. This was announced on Tuesday at the Euro Finance Conference at a ceremony in Delhi. Instituted in India this year, the award is given to companies in recognition of innovative cash management efforts they undertake in tandem with their banking partners.

The panel of judges comprised eminent independent personalities and senior managers of HSBC India.

Reliance Infocomm wins the award for successfully integrating FLAG's banking operations across various locations spread over the world after it acquired the global carrier in 2004. To be able to manage FLAG's financial transactions, it was imperative that the company was brought on the same financial platform as its parent.

It was quite a daunting task given the diverse geographies FLAG operated in and the laws that governed them. It involved consolidating FLAG's banking relationships, streamlining and improving its funds and investment processes, putting in place an integrated system that allowed for dual monitoring of accounts and pooling of funds into a central treasury account with a view to reducing cost of borrowing and ensuring efficient deployment of surplus funds.

"The HSBC Global Payments & Cash Management Partnership Award has been constituted to recognise innovation in cash management solutions implemented by companies in association with their banking partners. Reliance Infocomm has come out a clear winner with its smooth integration of FLAG's banking operations across various locations spread across the world," said Lawrence Webb, Regional Head of Global Payments & Cash Management, Asia Pacific, HSBC.

"It is a matter of great pride for all of us at Reliance Infocomm that our partner HSBC India has chosen our company for this prestigious award. Integrating FLAG's banking and related systems and processes was a daunting task and we are extremely happy that a bank such as HSBC has helped us achieve it," said B.D.Khurana, Group President, Reliance Infocomm.

cash management waakaai bhau tsahi hai..public se liya tijori mein daal diya..bas yehi no upgradation nothing spending on ads and so....

[abhay 0]

thoda sa cash isdhar bhi ! i'll manage it 4 ya