A surprise among the names that have applied for a small finance bank is a chartered accountant from Delhi. Vinod Jain started
as a CA, in a small office in Nehru Place, a commercial complex in
south
Delhi, known for pirated software and assembling of computers.
Jain now heads INMACS, a member of the National Stock Exchange and a depository participant, and INMACS Management Services, which has a office in Gurgaon with about 100 people. The low-key Jain's emergence in the race for a license surprised many but people in the CA community say he's known to keep his cards close to his heart and spring surprises.
It is not clear how many investors Jain- a former member of the Institute of Chartered Accountants of India Council, apex decision making body for the profession - might rope in, provided he gets RBI's nod. It is learnt a sizable investment could come from Jain's own assets.
INMACS is known for services such as consulting and auditing. It also has an arm providing capital market services. INMACS is registered with the Securities and Exchange Board of India as a category-IV merchant banker. It provides Initial Public Offer advisory services and a wide array of other financial services - arrangement of term loans at competitive terms, working capital facilities, foreign currency loans from banks or financial institutions abroad. Jain did not respond to calls made by Business Standard.
Delhi, known for pirated software and assembling of computers.
Jain now heads INMACS, a member of the National Stock Exchange and a depository participant, and INMACS Management Services, which has a office in Gurgaon with about 100 people. The low-key Jain's emergence in the race for a license surprised many but people in the CA community say he's known to keep his cards close to his heart and spring surprises.
It is not clear how many investors Jain- a former member of the Institute of Chartered Accountants of India Council, apex decision making body for the profession - might rope in, provided he gets RBI's nod. It is learnt a sizable investment could come from Jain's own assets.
INMACS is known for services such as consulting and auditing. It also has an arm providing capital market services. INMACS is registered with the Securities and Exchange Board of India as a category-IV merchant banker. It provides Initial Public Offer advisory services and a wide array of other financial services - arrangement of term loans at competitive terms, working capital facilities, foreign currency loans from banks or financial institutions abroad. Jain did not respond to calls made by Business Standard.
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