Nehal Modi, the younger brother of fugitive diamantaire Nirav Modi, has been arrested in the US based on extradition requests from the Enforcement Directorate and the CBI.
The fourth finance ministerial meeting, to be held in New Delhi, will have Finance Minister P Chidambaram from the Indian side and Hyun Oh-seok, Deputy Prime Minister and minister of strategy and finance, from South Korea.
These purchases represent the third phase of Air India's 68-aircraft fleet renewal plan. EXIM Bank had earlier approved $1.2 billion in 2007 and $548.8 million in 2008 to support the financing of NACIL's purchases of Boeing aircraft.
Plants should source equipment, services from the US.
The decision comes following the appeal by the Delta Airlines, Inc and the Airline Pilots Association of a lower court decision in July 2012 that determined that the Exim Bank improperly approved financing for purchases of certain Boeing aircraft by Air India.
The government's initiative to migrate SEZ data from NSDL software to ICEGATE system for streamlined reporting of import data caused double counting of gold imports, resulting in inflated figures and the issue has now been largely rectified, government sources said. The downward revision has provided the actual picture of trade deficit (difference between imports and exports), which was earlier looking very high. The deficit for November will now be revised downwards from $37.84 billion to about $32.8 billion. Similarly, there will be a revision in overall import numbers as well.
In a statement, the bank said Miasole, a solar-energy company in Santa Clara, California, has exported thin-film solar panels to a solar photovoltaic project in Rajasthan
Export-Import Bank of India plans to raise Rs 3,000 crore (Rs 30 billion) through various financial instruments, including bonds and term deposits and foreign currency resources, totaling $800 million in 2005-06.
The Export-Import Bank of India is planning to extend loans worth $150 million to the developing countries in Africa, Asia and Europe in six months.
Exim Bank pointed out that recent performance of the manufacturing sector in India is indicative of an underlying inertia.
The Maldives will get free 'non-lethal' military equipment and training from China's military under a newly inked agreement with Beijing, President Mohamed Muizzu has said, underlining that it would further strengthen the Indian Ocean island nation's independence and autonomy.
The rating agency revised the outlook for EXIM, SBI, Bank of Baroda, Bank of Baroda (New Zealand), Bank of India, Canara Bank, Punjab National Bank, ICICI Bank, Axis Bank while affirming their ratings. At the same time, Fitch has affirmed IDBI Bank Ltd's (IDBI) rating, while maintaining the outlook at negative.
Export Import Bank of India on Friday mooted an "integrated effort" from government, industry and R&D units to boost exports of Indian herbal products, which lagged behind the growing global market, now at $62 billion.
India is expected to extend a $10 million credit to South Africa at the fifth joint commission meeting of the two countries that begins in Pretoria on Thursday.
The Reserve Bank of India (RBI) has given its approval to two Russian banks for opening special vostro account for rupee trade. Sberbank, JSC VTB - the largest and second largest bank of Russia - are the first foreign lenders to receive this approval after the central bank announced the norms on INR trade in July. Both lenders have branch presence in India. Earlier this month, state-run UCO Bank received the RBI's approval to open a special Vostro account with Gazprombank of Russia. While the Kolkata-based lender is in the process of opening the account, the bank has received requests from various foreign lenders for opening such an account.
Total export from India is expected to register 10 per cent growth during 2010-11, with all sectors including textile showing a revival, top official of Export-Import Bank of India said.
Those who consider the rupee as a proxy for virility have started thumping their chests and dreaming of dethroning the dollar from its coveted position, observes Tamal Bandyopadhyay.
Several US lawmakers -- both from the House of Representatives and the Senate - had in the past had raised question over Reliance's business ties with Iran and had urged the Export Import Bank of the US to rescind loan guarantees to Reliance.
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
US President Barack Obama on Monday announced investments and loans worth $4 billion by American agencies as part of measures to bolster trade with India.
The Reserve Bank on Monday asked banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency. Before putting in place this mechanism, banks will require prior approval from the Foreign Exchange Department of the Reserve Bank of India (RBI), the central bank said in a circular. "In order to promote growth of global trade with emphasis on exports from India and to support the increasing interest of global trading community in INR, it has been decided to put in place an additional arrangement for invoicing, payment, and settlement of exports / imports in INR," it said.
The government will give about Rs 495 crore (Rs 4.95 billion) to IDBI as part of a ADB line of credit and restructuring its liabilities.
The project is the largest investment undertaken by any private sector entity in CSP in India.
Proceeds may be used to partly pay off its Rs 46,570-cr debt
The Reserve Bank of India plans to allow exporters and importers to rebook and cancel up to 50% of their total hedged exposure from the present cap of 25%, Executive Director G Padmanabhan said a in speech in Singapore on Friday.
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The rupee has fallen almost 20 per cent in the first four months of FY14, forcing the government to consider raising import duties on gold and non-essential luxury items.
To mobilise private capital in the clean energy sector, the US has agreed to place a field investment officer in India apart from hosting a series of events to overcome strategic barriers in accelerating institutional and private financing.
India on Sunday signed three agreements with the US for developing smart cities in Ajmer, Allahabad and Visakhapatnam, with the government saying that the agreements would make significant contribution to building such cities in the country.
'Sectors related to foreign trade, exchange, import and travel are experiencing a slowdown, which is now reflecting in their talent demand too.'
Rating agency Fitch on upgraded outlook of 10 financial institutionals, including SBI, ICICI Bank and EXIM Bank of India to 'stable' from 'negative' earlier following revision in the country's outlook.
India's five leading wilful defaulters are Winsome Diamonds & Jewellery Ltd and associate Forever Precious Jewellery & Diamonds, Zoom Developers, Kingfisher Airlines, Beta Naphthol and Raza Textiles
Experts hail Obama's India trip as a big step towards signing of imp trade agreements.
These reactors would bring clean energy to India and generate thousands of jobs in the US
The rupee weakened by 14 paise to close at a new lifetime low of 79.59 against the US dollar on Tuesday as a strong greenback overseas and persistent foreign fund outflows continued to weigh on investor sentiment. This comes a day after the RBI announced measures for international trade settlement in rupees. At the interbank forex market, the local unit opened weak at 79.55 against the greenback and witnessed an intra-day high of 79.53 and a low of 79.66.
The new regulations leave registration capital requirements for wholly foreign-owned banks unchanged
The two sides signed a maritime security agreement after extensive talks between Prime Minister Narendra Modi and his Mauritian counterpart Pravind Jugnauth.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
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