The World Bank is likely to sanction a reform-linked loan of Rs 16,000 crore (Rs 160 billion) to the UP government. The loan, called "UP Development Policy Loan", is in an advanced stage of negotiation and likely to be credited to UP in the current fiscal. The loan will help the state government retire costly old debt, which will reduce the annual interest burden by Rs 700 crore (Rs 7 billion).
It will enable real-time intel sharing among banks and other financial sector participants to strengthen customer protection against digital fraud.
With the Japanese government taking a lead in funding the megapolis' many signature infrastructure projects, the World Bank has evinced interest in funding the proposed Charkop-Dahisar and Wadala-Teen Hath Naka Metro projects.
WCP Mauritius Holding, an investment vehicle promoted by former World Bank president James Wolfensohn, has bought a minority stake in India's ethnic wear company Fabindia for about $11 million, a Financial Times report said.
In a statement on Wednesday, World Bank said that its President Robert B Zoellick has announced that he would step down at the end of a five-year term in which a transformed Bank played an historic role during the global economic crisis, using record replenishments to provide more than $247 billion to help developing countries boost growth and overcome poverty.
Sources close to Mohamed Mushin say he regrets the indiscretion of purchasing the shares that he did, and even though it was perfectly legal, it gave the perception of conflict of interest, that his buying them under the Friends and Family IPOs seemed as it was a quid pro quo by the two companies that had secured handsome Bank contracts.
A report prepared by World Bank in coordination with Chinese experts said China has reached a 'turning point' in development but it could still emerge as the world's largest economy before 2030 if it carried structural reforms.
'Just like oral hygiene, cyber hygiene must become a daily habit,' says Beena Vaheed, executive director, Bank of Baroda. 'It is not enough to rely only on banks, companies, or the government. Each of us must play our part.'
'Maybe he was wrong, but they believed he genuinely meant what he said.'
In the face of burgeoning forex reserves at over $93 billion, the government has quietly prepaid $1.4 billion worth of costly foreign loans to World Bank and Asian Development Bank.
The executive directors of the World Bank unanimously selected Robert B Zoellick to succeed Paul Wolfowitz, effective July 1, 2007, as the 11th President of the Bank for a five-year term.
World Bank on Monday said its lending in India is estimated to increase from its current annual average of $2.5 billion to an average of $4 billion over the next two-three years.
India has emerged as the 12th wealthiest nation in the world with its GDP touching $785.47 billion or Rs 35,34,615 crore in 2005, the World Bank said.
The World Bank now projects Gross Domestic Product growth of 11.3 per cent in 2007, but below 11 per cent in 2008, the World Bank's China Quarterly Update said.
Sustaining 8 per cent-plus growth rates is necessary if we are to reach high-income status by 2047, points out Amitabh Kant.
The SC has gone a step further to state that even if one were to not apply the codified GAAR provisions, the judicial GAAR would continue to apply, point out Pranav Sayta and Bhargav Selarka.
Starting a business in India has become much easier in the last two years.
The rankings are based on 10 indicators of business regulation that track the time and cost to meet government requirements in business start-up,operation, trade, taxation, and closure.
Shehbaz emphasised that water was a lifeline for Pakistan, and no compromise would be made on the country's rights under international agreements, as per Geo News.
China remained a developing country facing many challenges, including alleviating poverty in rural areas, despite emerging as a second largest economy of the world, World Bank President Robert B Zoellick has said.
In all, worldwide remittances -- including those to high-income countries -- will reach $406 billion in the current calendar year.
'The trade deficit in some sectors is huge and that is an area of opportunity to localise.'
The World Bank on Thursday projected Indian economy to grow at 8.7 per cent this year but estimated that the high growth would moderate in 2008 due to tighter financial and fiscal conditions.
With this India will continue to retain the position of being the fastest growing emerging economy. And by 2021, its growth rate is projected to be 1.5 per cent more than China's 6 per cent.
United States nominee Jim Yong Kim was on Monday chosen as the next president of the World Bank, an appointment that continues the longstanding tradition of an American leading the Washington-based institution.
Global warming can cause extreme floods and droughts and can mean snowfall is replaced by rain, with higher evaporation rates.
Arvind Subramanian was appointed CEA in October 2014 and got a year's extension in September 2017
N Chandrababu Naidu, when he was chief minister of the state, had sought funding for the project in 2015, but the Bank had deferred its decision in the light of the alleged government excesses.
The World Bank has approved the Second Andhra Pradesh Economic Reform Loan worth $220 million, to back the state's efforts to achieve better socio-economic outcome and reduce poverty.
This arrangement, while facilitating a $4.3 billion increase in support to India, is designed to maintain IBRD's net exposure within the limit of US$ 17.5 billion established by the IBRD for lending to a large, highly creditworthy borrower like India.
Ranks 132 among 185 countries; position for 2013 unchanged from 2012.
India can return to 9 per cent growth if the government removes uncertainties in policy-making and go for early implementation of some of the long pending tax reforms, a senior World Bank official said on Wednesday.
India attracted a major chunk of the record $40.1 billion capital that flowed into South Asia in 2006, but restrictive policies could stunt investment growth leading to slower economic expansion, the World Bank warned in a report.
Budget 2026 sticks to fiscal discipline, shuns populist measures despite five key state elections coming up, but ends up rattling stock markets with a higher transaction tax on derivatives trading.
World Bank is expected to extend $2.5 billion loans to India this fiscal, which is lower than the targeted $3 billion annually during 2004-07.
South Africa will be eager to turn consistent recent form into a title-winning run when they open their women's ODI World Cup campaign against traditional powerhouses England in Guwahati on Friday.
The core dilemma remains: Why provide further stimulus to an economy that is already booming at an 8 per cent growth rate? asks Rajeswari Sengupta.
