Diversion of funds by errant borrowers is the largest driver of delinquencies in commercial and corporate banking. One of the key and rather onerous responsibilities of the banker is to ensure that the funds disbursed by way of loans are put to use in the business, as per the purpose envisaged while granting the loan.
India's first regulated real estate and infrastructure asset tokenisation platform at GIFT City aims to provide fractional ownership opportunities to small investors using blockchain technology. IFSCA has approved entities like Realdom India Pvt Ltd to commence operations on the platform.
Star Health and Allied Insurance Company will introduce dollar-denominated insurance from GIFT City for NRIs. The firm plans to launch an international insurance product range from the center in FY25. Star Health is the inaugural health insurance entity authorized to establish an International Financial Services Centre international office in GIFT City.
Among the proposals currently being discussed was the establishment of a single 'settlement bank' in GIFT City, with which other entities would have dollar balances. Subsequently, debits & credits would be conducted through the settlement bank, sources said. A potentially new dollar payment system could be akin to the existing Real-Time Gross Settlement System (RTGS), said the source.
Among the proposals currently being discussed was the establishment of a single 'settlement bank' in GIFT City, with which other entities would have dollar balances. Subsequently, debits & credits would be conducted through the settlement bank, sources said. A potentially new dollar payment system could be akin to the existing Real-Time Gross Settlement System (RTGS), said the source.
Among the proposals currently being discussed was the establishment of a single 'settlement bank' in GIFT City, with which other entities would have dollar balances. Subsequently, debits and credits would be conducted through the settlement bank, sources said.
The Indian government is promoting the Gujarat International Finance Tec-City, or GIFT City, as a "gateway for global capital and financial services for the economy" and is trying to attract companies through tax-breaks and other incentives. GIFT City offers companies that set up there a 10-year tax break and does not charge taxes on transfer of funds from overseas jurisdictions.
The $300 million sustainable bond, with a coupon rate of 5.196%, is set to mature on February 15, 2027, and holds a BBB- rating from S&P. Similarly, the $450 million bond, featuring a 5.18% coupon rate, is due on February 15, 2029, and also carries a BBB- rating. Read more:
The private lender will issue the dollar bonds out of its branch in Gujarat International Finance Tec-City (GIFT city). The bank has proposed to raise three-year bonds tagged as sustainability bonds and a five-year bond tagged as conventional bonds.
The private lender will issue the dollar bonds out of its branch in Gujarat International Finance Tec-City (GIFT city). The bank has proposed to raise three-year bonds tagged as sustainability bonds and a five-year bond tagged as conventional bonds. It has appointed Barclays, Bank of America, JP Morgan, MUFG and Standard Chartered as arrangers for the bond issuance.
In the last few years, we have witnessed the enhanced capital expenditure outlay resulting in a huge multiplier impact on the nation’s production capacity. With an 11.1% increase, the government has introduced a capex target of Rs 11.1 lakh crore in the FY 2025. This would be 3.4% of the GDP and signifies the government's commitment to infrastructure development.
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