Business briefs

Global PayEX automates account receivables worth Rs 1,000cr for Goldmedal Electricals *Cloud platform Global Payex on Monday said it has automated account receivables worth over Rs 1,000 crore for Goldmedal Electricals to address delay in invoice collections.

The company said its cloud-based EIPP platform ‘Freepay’ reconciles payments 2X faster and reduces daily sales outstanding by nine days, as per an official statement.

* * * * * * * *ICICI Securities launches automated alert mechanism *Domestic brokerage ICICI Securities on Monday launched an automated alert mechanism to help investors gauge the risk associated with the stocks that they choose to buy.

The facility, christened ‘i-flex’, will prompt the customers when they initiate purchase of stocks with weak fundamentals so that they are aware of the risks associated, an official statement said. * * * * * * * *CDSL demat accounts cross 3-crore mark * CDSL has become the first depository in the country to open three crore plus active demat accounts. CDSL (Central Depository Services Limited) had reached 1-crore demat accounts mark in August 2015 and crossed 2-crore mark in January 2020, according to a statement by the depository.

Nehal Vora, Managing Director and Chief Executive Officer of CDSL said, ''We are proud to have crossed the 3-crore milestone within a year of reaching the 2 crore milestone. The trust bestowed upon us by the new investors, existing investors and all our partners inspires us to do better, every day. ''CDSL will continue to provide services for the progress of the securities markets, for the valued investors in line of our vision of ''Empowering the Atma-nirbhar Niveshak'' through our digital services.'' PTI AA SUM SHWSHW