Banking industry

Banking industry

Japan International Cooperation Agency Partners with BSRM Steels to Construct Environmentally Friendly Steel Factory in Bangladesh

The Japan International Cooperation Agency (JICA) has signed a $50 million loan agreement with BSRM Steels Limited (BSRMSL) to construct an environmentally friendly steel factory in Miresholai District, Chottogram District, Bangladesh. This project aims to increase steel production capacity in Bangladesh while promoting environmentally friendly practices and reducing greenhouse gas

Banking industry

Government to Review Privatisation Plans for State-Run Banks

The Indian government is reassessing its plan to privatise state-run banks, with a new panel being considered to draw a fresh list of candidates for privatisation. The move comes as state-run banks have shown significant improvement in their financial performance, with a substantial decline in non-performing loans and improved asset

Banking industry

Ghar-Ghar KCC Abhiyaan Aims to Enhance Financial Inclusion and Support for the Fisheries Sector

The meeting chaired by Secretary (Fisheries) Dr. Abhilaksh Likhi marked a significant step towards increasing financial inclusion and support for the fisheries sector. Emphasizing the need to cover every eligible individual in the fisheries value chain, Dr. Likhi urged the participants to reduce rejection rates and expedite approval processes for

Banking industry

RBI May Roll Over $5-Billion Foreign Exchange Swap Due to Inflation Concerns

As the Reserve Bank of India (RBI) considers rolling over a $5-billion foreign exchange swap set to mature next week, it prioritizes liquidity management over bolstering forex reserves due to inflation concerns. The central bank, which has repeatedly flagged inflationary risks stemming from excess funds with banks, is likely to

Banking industry

India's Foreign Exchange Reserves Decline by $14.154 Billion in Almost a Month

India's foreign exchange reserves have dipped to their lowest level in over five months, standing at $584.742 billion on October 6, due to a valuation loss and the Reserve Bank of India's (RBI) intervention in the currency spot market. The Foreign Currency Assets (FCA), a

Banking industry

India's Industrial Output Jumps to 14-Month High, Retail Inflation Eases

India's industrial production index (IIP) grew at a 14-month high of 10.3% in August, driven by a base effect and an uptick in manufacturing, mining, capital goods, and consumer durables. The inflation rate for consumers, or retail inflation, eased to a three-month low of 5.02% in

Banking industry

RBI Maintains Status Quo on Interest Rates, Focuses on Withdrawal of Accommodative Stance

The Reserve Bank of India (RBI) has maintained the interest rates for the fourth consecutive monetary review meeting, keeping the repo rate at 6.5%. The decision comes despite easing food prices and concerns about spillovers from global bond markets. Governor Shaktikanta Das emphasized the need to act cautiously, citing

Banking industry

RBI Maintains Status Quo Amid Global Turmoil

Amid soaring yields, rising defaults, and troubled geopolitics, the Reserve Bank of India (RBI) Governor Shaktikanta Das can breathe a sigh of relief as the country's inflation remains under control. The RBI's primary concern is the consumer price index (CPI), which is heavily loaded with food

Banking industry

Indian Family Businesses Face Challenges Amidst Inflation and Rising Costs

The Reserve Bank of India will need to consider policy interventions to support family businesses, which are facing growing competition, rising costs, and difficulties in digital transformation. A survey report by SP Jain Institute of Management & Research found that micro and small family businesses in India continue to dominate

Banking industry

Progress Update on Rahughat Hydropower Project in Nepal

The 40-megawatt-capacity Rahughat hydropower project, initiated by the Nepal Electricity Authority (NEA) in 2066 BS, has achieved 60 percent progress in its construction work after fourteen years. The project's original timeline, set for completion in 2070 BS, was delayed due to various factors, including the termination of the

Banking industry

MSME Business Confidence Index Surges in Q3 2023

The latest ASSOCHAM -- Dun & Bradstreet Small Business Confidence Index (SBCI) survey for Q3, 2023 has indicated a surge in business optimism among Small and Medium Enterprises (SMEs) in India. The SBCI jumped to 105 in Q3, up by 23 per cent from Q2 2023, reflecting a quarter-on-quarter growth

Banking industry

Mumbai: RBI Report Highlights Risks from Global Commodity Markets Amid Easing Vegetable Prices

Rising crude oil prices, driven by the extension of voluntary production cuts by Saudi Arabia and Russia, pose a challenge to global financial stability, according to the Reserve Bank of India bulletin. Meanwhile, India's retail inflation has moderated, with the headline CPI inflation easing to 6.8% in