Posts Tagged ‘banking India’

Proposal of M/s. Axis Bank Limited for increase in foreign investment from 49 percent to 62 percent subject to the aggregate foreign institutional investors holding not exceeding 49 percent of the paid up equity share capital of the bank

Comments Off | 12-26-2013

The Cabinet Committee on Economic Affairs has approved the proposal of M/s. Axis Bank Limited for increase in foreign investment from 49 percent to 62 percent subject to the aggregate foreign institutional investors holding not exceeding 49 percent of the paid up equity share capital of the bank.
The approval would result in foreign investment of

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India Signs an Agreement with World Bank for Credit of US$ 360 Million for Uttar Pradesh Water Sector Restructuring Project Phase-II

Comments Off | 10-26-2013

An agreement for credit of US$ 360 million (equivalent) from World Bank for the Uttar Pradesh Water Sector Restructuring Project Phase-II was signed here yesterday by Shri Nilaya Mitash, Joint Secretary, Department of Economic Affairs, Ministry of Finance on behalf of the Government of India and Mr.Onno Ruhl, Country Director, World Bank on behalf of

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Capitalisation of Public Sector Banks During 2013-14.

Comments Off | 10-24-2013

The capital infusion by the Government of India in Public Sector Banks (PSBs) is done with the twin objective of adequately meeting the credit requirement of the productive sectors of economy as well as to maintain regulatory capital adequacy ratios in PSBs.  The Government of India, as the majority shareholder, is

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India Signs Loan and Project Agreements with World Bank for US $100 Million for Low Income Housing Finance Project

Comments Off | 08-16-2013

The Loan and Project Agreements for World Bank (IDA) assistance of US $100 million for Low Income Housing Finance Project were signed between Government of India/National Housing Bank(NHB) and the World Bank here yesterday.
The Loan Agreement was signed by Shri Nilaya Mitash, Joint Secretary, Department of Economic Affairs, Ministry of Finance on behalf of Government

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RBI and The Government on the Same Page and working together to Achieve Stability and Growth; Government Welcomes the RBI Policy Statement : CEA

Comments Off | 07-30-2013

The Reserve Bank of India (RBI) came out with its policy statement this morning. The RBI left policy rates on hold. Dr Raghuram Rajan, Chief Economic Adviser (CEA), Ministry of Finance said that RBI policy saw the main immediate macroeconomic task as that of stabilizing the rupee, and believes that once the rupee is stabilized,

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Credit Agreement Worth US$ 84 Million Signed with World Bank for Bihar

Comments Off | 06-28-2013

An agreement for credit of US$ 84 million (equivalent) from World Bank for the Bihar Panchayat Strengthening Project was signed today at New Delhi. Mr. Nilaya Mitash, Joint Secretary, Department of Economic Affairs, Ministry of Finance signed on behalf of Government of India and Mr. Michael Haney, Operations Advisor, World Bank, India on behalf of

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Record Performance of SPMCIL in Production of Bank Notes, Coins and Security Products During 2012-13

Comments Off | 05-14-2013

Security Printing & Minting Corporation of India Ltd. (SPMCIL) has achieved all the targets with regard to production of Bank Notes, Coins, Security Products (Passports, NJSPs, Postal Products and other Security Products) and production of the Raw Materials (Security Inks and Security Paper) during the year 2012-13. It has not only met with the original

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Il&FS Infrastructure Debt Fund Signs MoU with eight Public Sector Banks; need for more than one Trillion Us Dollars for Infrastructure Sector in Next Five Years; Government And Private Sector to Contribute Fifty Percent Each

Comments Off | 05-14-2013

IL&FS Infra Asset Management Limited (IAML), an Asset Management Company (AMC) promoted by IL&FS Financial Services Limited (IFIN) to manage the IL&FS Infrastructure Debt Fund (IIDF), signed a Memorandum of Understanding (MoU) with eight (8) Public Sector Banks (PSBs) including Allahabad Bank, Bank of India, Canara Bank, Central Bank of India, Indian Bank, Indian Overseas

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Speech of the Prime Minister at the Inaugural Session of the 46th AGM of the Asian Development Bank

Comments Off | 05-4-2013

Following is the text of the Prime Minister, Dr Manmohan Singh’s speech at the Inaugural Session of the 46th AGM of the Asian Development Bank today:
“On behalf of the Government and people of India, I warmly welcome you all to the 46th Annual Meeting of the Board of Governors of the Asian Development Bank. I

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Steps being taken for Banking Assistance and Remunerative Prices to Farmers

Comments Off | 12-1-2012

Government announces each season minimum support prices for major agriculture commodities to ensure remunerative prices to the growers taking into consideration the relevant factors including the cost of production and changes in the input prices and organizes purchase operations through public and cooperative agencies. Besides, to raise farm income and to improve agriculture production and

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