banks

Report also highlights huge scope for augmenting capital via non-traditional mechanisms such as hybrid capital, and much greater use of portfolio and capital guarantees

Bank, Banks, foreign banks

"We ... expect an overall increase of $200 billion of MDBs' lending capacity over the next ten years by optimising their balance sheets and taking more risks," the summit's final statement said

Nirmala Sitharaman, N K Singh, Lawrence Summers

Her call not to divert resources from World Bank's two priorities of eliminating poverty and promoting shared prosperity find acceptance by expert group

India's G20 presidency

Expert group will hold first in-person meeting in Washington next week

Under the aegis of India's G20 Presidency, a 11-member expert group has been set up to suggest measures to strengthen multilateral development banks (MDBs).
The finance ministry in a statement said Professor Lawrence Summers ( President Emeritus, Harvard University) and N K Singh (Former Chairperson, 15th Finance Commission of India) are co-convenors of the G20 Expert Group on strengthening MDBs.
The panel would work on making a road map for an updated MDB ecosystem for the 21st century, touching upon all aspects of MDB evolution, and mechanisms for coordination among such banks to address and finance global development and other challenges more effectively.
The panel would also evaluate various estimates regarding the scale of funding required by and from MDBs for addressing their and member countries' increased financing needs for SDG and transboundary challenges.
The expert group will submit its report to the Indian Presidency of G20 before June 30, 2023, the ministry said.

Modi, PM Modi

The prime minister said even as the world population has crossed 8 billion, progress on Sustainable Development Goals seems to be slowing down

chart

Done the right way, the smart platform for infrastructure planning and execution could lead to tremendous productivity benefits

Climate change, environment

The world's top development banks provided more than $80 billion last year to help countries tackle climate change, passing a goal they set in 2019, according to a report published Friday.
The European Investment Bank, or EIB, said it and seven other financial institutions committed almost $50.7 billion to low- and middle-income countries, and over $31 billion to rich nations in 2021.
Multilateral development banks such as the EIB and the World Bank had pledged three years ago to collectively achieve those targets by 2025.
Still, the banks have faced calls to step up their lending for climate projects even more, particularly to struggling economies which are unable to finance projects in other ways.
United Nations Secretary-General Antonio Guterres said this week that development banks' current business models were painfully averse to risk.
This causes projects such as renewable energy installation to be many times more expensive in poor countries than in rich nations, he said.

Coffee

The new plan builds on a previous coffee-sustainability effort that started 12 years ago involving around 100,000 farmers; the goal is to double that in the coming years

BRICS nations, summit

The Indian Regional Office will be instrumental in enhancing NDB's engagement with borrowers and stakeholders

According to Moody's Investor Service, this expectation is based on the average annual rate of growth in green bond issuance since 2015

nirmala sitharaman

DFIs have globally and historically been used to finance a country's development and infrastructure requirements, projects of national importance that might not conform to commercial return standards

Illustration: Ajay Mohanty

The WLTF banks need to be institutions in search of a new business model to take care of an old need of the Indian economy

Not thinking about an IPO as of now, says chairman

Dr Krishna Ella

Higher discounts on Russian oil this month may help Indian refiners reduce crude sourcing costs and trim fuel marketing losses even as Brent crude crosses $95/barrel, weakening the country's finances

oil refinery, crude oil, oil

India's rage is misplaced and hardly serves to endear the country to those appalled by the idea that it may have had a Canadian citizen killed

India Canada

Electronics & IT Minister says India can emerge as a global leader in this category

Ashwini Vaishnaw

NABARD to issue social sector bonds on Tuesday

Bonds, Govt bond

Luv You Shankar movie is set to hit theatres today, September 22, 2023. Abhimanyu Singh, Sanjay Mishra, Shreyas Talpade, Tanishaa Mukerji, and Elakshi A Gupta are playing the main roles

Luv You Shankar

The Canadian government has said the circulation of an online video in which Hindu Canadians are told to leave the country is offensive and hateful, asserting that acts of aggression, hate, intimidation or incitement of fear have no place in Canada.
The video was circulated amid escalating tensions between India and Canada following Prime Minister Justin Trudeau's explosive allegations of the "potential" involvement of Indian agents in the killing of Khalistani extremist Hardeep Singh Nijjar on his country's soil on June 18 in British Columbia. India had designated Nijjar as a terrorist in 2020.
India has angrily rejected Turdeau's allegations as "absurd" and "motivated" and expelled a senior Canadian diplomat in a tit-for-tat move to Ottawa's expulsion of an Indian official over the case.
Public Safety Canada, the department responsible for matters of public safety, emergency management, national security, and emergency preparedness, said the circulation of the video is offensive a

Canada

Inclusion will start on June 28, 2024, and extend over 10 months, with 1% increments on its index weighting, as India is expected to reach the maximum weighting of 10%

Ajay Seth

It further appreciated the efforts of the co-facilitators Namibia and Germany for the Summit of the Future, as it unfolds

G20, G20 India

The Andhra Pradesh Assembly was on Friday adjourned briefly following continued protests by the opposition TDP which demanded the release of its leader N Chandrababu Naidu, who is in jail in connection with a corruption case.
The assembly proceedings were disrupted for second day in a row over the arrest of the Leader of Opposition in connection with the multi-crore AP Skill Development Corporation scam.
As soon as the question hour commenced to discuss the estimates of Relief and Rehabilitation to Mulapeta Port, the TDP MLAs rushed to the Speaker's podium and surrounded Tammineni Sitaram.
They raised slogans demanding withdrawal of cases registered against the former CM and sought discussion on the matter.
In response, Finance Minister Buggana Rajendranath said many protesting TDP MLAs are experienced, and are not maintaining decorum.
He noted that in a democracy there are established procedures to protest and warned the TDP leaders that the ruling party legislators can also resp

Telugu Desam Party (TDP) President N Chandrababu Naidu

PM Modi will engage in discussions and dialogues with these academic leaders, underlining the importance of higher education in India's growth and development

The Punjab Vigilance Bureau has registered a case against former state finance minister Manpreet Singh Badal and five others in connection with alleged irregularities in the purchase of a property in Bathinda, a top official said on Monday.
Apart from Badal, who is now a BJP leader, and former Bathinda municipal corporation commissioner Bikramjit Shergill, the other four booked in the case on Sunday night have been identified as Rajiv Kumar, Amandeep Singh, Vikas Arora and Pankaj, the official said.
Rajiv Kumar and Amandeep Singh have been arrested, the officer added.
The bureau had launched an investigation into the matter based on former MLA Sarup Chand Singla's 2021 complaint alleging irregularities in the purchase of the property at a prime location in Bathinda.
BJP leader Singla, who was earlier with the Shiromani Akali Dal, had alleged that Badal, as a minister in the previous Congress dispensation, had abused his position to convert commercial plots into a residential plot f

arrest

The Defence Minister will also formally induct the C-295 transport aircraft into the Indian Air Force in the presence of top military officials, including IAF chief Air Chief Marshal VR Chaudhari

Rajnath Singh

The G20 summit under India's Presidency put the Sustainable Development Goals front and centre and underscored the dedication to accelerate their implementation, New Delhi's envoy here has said, emphasising that India's journey towards SDGs serves as an inspiring example of determination and ingenuity.
Speaking at the India Roundtable: Delivering Development: Journeys, Directions and Lighthouses', organised on the sidelines of the 78th session of the United Nations General Assembly here on Friday, India's Permanent Representative to the UN Ambassador Ruchira Kamboj said that India's dedication to accelerate SDG implementation was made clear.
India's journey towards the SDGs serves as an inspiring example of determination and ingenuity. As we navigate the challenging path ahead, let us draw strength from the commitment made at the G20 Leaders' Summit in September 2023. It is there that our collective resolve was reaffirmed, and our dedication to accelerating SDG implementation was mad

UN Ambassador Ruchira Kamboj

Ahead of Chhattisgarh assembly elections due later this year, Congress leader Rahul Gandhi will launch Mukhyamantri Gramin Awas Nyay Yojna (MGANY) in Bilaspur district on Monday.
This scheme is aimed at providing financial assistance to the homeless and families having kutcha houses in rural areas.
At 'Awas Nyay Sammelan', Gandhi and Chief Minister Bhupesh Baghel will disburse the first instalment of Rs 25,000 each to 1,30,000 beneficiaries for the construction of houses, officials said.
The event will be held at around 2 pm in Parsada (Sakri) village under the Takhatpur development block in Bilaspur district, a public relations department official said.
Of the 1.30 lakh beneficiaries, 1 lakh are those who are listed on the permanent wait list (PWL) under the Pradhan Mantri Awas Yojna (PMAY- rural), but are yet to get the benefit of the Central scheme, he said.
On the occasion, Rs 5 crore will be transferred to the accounts of 500 beneficiaries under Mukhyamantri Nirman Shramik Aw

Development banks

MDBs should improve engagement with private sector: G20 expert group

Paris summit: Development banks can boost lending by $200 billion

Global public goods should be financed from add'l resource allocation: FM

Expert group on MDB reform to focus on development, green finance

G20 expert group formed for strengthening multilateral development banks

PM bats for strengthening multilateral development banks to meet challenges

Empowering Gati Shakti

Development banks pass climate 2019 goal, urged to help poor more

Nestle to invest $1 billion towards sustainable coffee farming plan

BRICS bank to open India's regional office in GIFT City in Gujarat

Sustainable bond issuance volumes of FIs, DBs to approach $300 bn in 2021

National DFI can fill key gap by funding infra firms in mid-growth stage

Development banks in a new avatar?