Banking industry
Indian equity markets logged their first weekly losses in a month due to elevated crude oil prices, concerns over global monetary policy tightening, and relentless sales of domestic stocks by foreign portfolio investors (FPIs). The BSE Sensex and the Nifty50 recorded losses of 2.6 per cent and 2.3
Banking industry
Export-Import Bank of India has issued a tender notice for the construction of a 100 MW solar power plant in Madarganj, Jamalpur District, Bangladesh. The tender invites prequalifications for Engineering, Procurement, and Construction (EPC) contractors for the project. The tender reference number is GOILOC-274/Bangladesh/EPC-82. An upfront and non-refundable
Banking industry
The Reserve Bank of India's (RBI) surprise decision to hike the policy repo rate by 50 basis points to 4.90 per cent has sparked a mixed reaction from economists and market watchers. According to Abheek Barua, Chief Economist at HDFC Bank, the RBI's move is
Banking industry
The Export-Import Bank of India (Exim Bank) has initiated a project to provide financing for two solar projects in Guinea, undertaken by the Government of Guinea. The projects aim to supply electricity and drinking water to 7 universities and electrify 200 health infrastructures in rural areas. The Indian consultancy firms
Banking industry
India Exim Bank and Japan Bank for International Cooperation (JBIC), along with three Japanese private financial institutions, have concluded a USD 100 million loan agreement to support India's healthcare sector in combating COVID-19. The facility will specifically target vaccine manufacturers, pharmaceutical companies, and other medical devices and equipment.
Banking industry
India Exim Bank has successfully concluded a $100 million loan agreement with Japan Bank for International Cooperation (JBIC) and three Japanese private financial institutions to support the Indian healthcare sector in combating COVID-19. The facility aims to promote the development of vaccine manufacturers, pharmaceutical companies, and other related activities. This
Banking industry
Jamie Dimon, chief of JPMorgan Chase, faced a strong rebuke from shareholders over the bank's executive pay plan, which included a $201.8mn package for six top executives. Only 31% of investors supported the scheme, sparking a stinging rebuke. Meanwhile, global financial markets continued to grapple with the
Banking industry
Marsh McLennan's decision to provide insurance for the East African Crude Oil Pipeline (EACOP) has been met with criticism from climate activists, who argue that the project is morally and financially dubious. The pipeline, set to be the world's longest heated crude oil pipeline, would displace
Banking industry
As of March 2022, India's gold holdings stand at 760.42 tonnes, with the Reserve Bank of India (RBI) adding 16.58 tonnes during the six months ended March 2022. This acquisition took place despite a decline in foreign exchange reserves, which decreased by $44.73 billion from
Banking industry
The Reserve Bank of India's affinity to gold has grown significantly, with the share of gold in the total foreign exchange reserves rising to 7% at the end of March. This marks an increase from about 5.88% six months prior. The central bank's gold reserves
Banking industry
The Reserve Bank of India (RBI) unexpectedly raised its key interest rate by 40 basis points to 4.40 per cent, a significant move aimed at curtailing surging inflation, exacerbated by the ongoing conflict in Europe. Governor Shaktikanta Das emphasized that globally, inflation is rising alarmingly and spreading fast, necessitating
Banking industry
In a move to control inflation, India's central bank, the Reserve Bank of India (RBI), raised its key interest rate to 4.4% from 4%. This decision was taken after an unscheduled meeting of the bank's monetary policy committee. The inflation rate in India has surged
