Qatar National Bank to start operation in India
The Dollar Business Bureau Qatar National Bank (QNB) on Sunday announced it has received approval to open a branch in India. Qatar’s leading financial institution, which has officially completed purchase of Turkey's Finansbank for 2.7 billion, will soon provide its banking services in India. It obtained the approval of India's regulatory authorities to conduct operations in that country, adding the move would help towards achieving its goal of strategic global expansion, QNB said in a statement. The latest decision is a part of QNB’s global expansion plan. The Bank is currently present in over 30 nations across Africa, Asia, Europe and the Middle East. The Bank, however, did not announce a specific date, when it would commence its operation in India. QNB, along with its subsidiaries, ...
Rupee devaluation may not boost exports: RBI Governor
Sharath Chowdary Devaluation of the rupee may not boost exports from India. But in all likelihood, it will have an inflationary impact offsetting any benefit to the country’s economy. The current value of rupee is pretty reasonable, the Reserve Bank of India Governor Raghuram Rajan said. This was in reply to a question posed by The Dollar Business Bureau, if there was any need to devaluate the rupee to increase exports from the country, given the current scenario of global economic slowdown. Detailing the side effects of rupee devaluation, he said, “Currency is a complicated animal. Inflation will pick up in the country due to devaluation. Cheaper prices may allow exporting more but it also makes imports costlier. We need to pay ...
THE CHANGING LANDSCAPE OF NBFCS
Sairaj Iyer A discussion on the changing landscape of non-banking financial corporations by Assocham saw participation from leading financial strategists. Sunil Kanoria, President of Assocham and Raman Aggarwal, Chairman of the Finance Industry Development Council (FIDC) inaugurated the summit while V. Vaidyanathan, Founder & Chairman, Capital First Limited delivered the introductory address. In his brief address, Vaidyanathan summarized the innovation quotient in the sector and the role of the Indian regulators in the growth of NBFCs. NBFCs- HUB OF INNOVATION According to Vaidyanathan, the NBFCs have succeeded in penetrating the bottom of the pyramid by using innovative schemes and low-cost structures. This enabled NBFCs to reach the last mile financing, as well as sectors such as student loans, farm loans, mortgages and business loans. ...
JLL expects 20% more FDI into Indian realty
Sharath Chowdary | The Dollar Business Indian real estate is all set to improve its position on transparency with Real Estate Regulation and Development Act (RERA) 2016, which was recently passed in the Parliament. Ashutosh Limaye, JLL India Head – Research & Real Estate Intelligence Service, told The Dollar Business Bureau: The RERA is going to improve the standards of the real estate sector in the country. It will also help the sector attract additional foreign direct investment (FDI). “Currently, Indian real estate is attracting an FDI of $2 billion per annum, but we expect 20% growth within a year, as the new real estate regulator goes effective. Overall, transparency and accountability levels will increase, which is certain to fetch more into ...
OPIC to allocate funds to India for expansion of internet facilities
The Dollar Business Bureau The American Institution has approved an amount of $421 million to India, for the development of its solar and broadband projects, so that it could expand its internet infrastructure. Overseas Private Investment Corporation, the U.S. Government’s Development Finance Institution has sanctioned $250 million in senior debt financing to the subsidiaries of ReNew Power Ventures Private Limited. This would be utilised to construct up to 400 megawatt of renewable solar generation in India, covering various projects. ReNew will help India to achieve its goals to gradually adapt a low carbon economy. This is possible with the innovative financial structure that would efficiently streamline the funding projects for the new energy products. An approval from OPIC of ...
Change in location of Debts Recovery Tribunal
Dated 24th November, 2014 | Copy of | Notification | (Published in the Gazette of India on 2nd December, 2014) In exercise of the powers conferred by Section 3 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (51 of 1993), the Central Government hereby notifies the change in the location of Debts Recovery Tribunal No. I, II and III Delhi w.e.f. 28th November, 2014 from the place mentioned in column 3 to the place mentioned in column 4 in the table below:- Sd/- (Mohammad Mustafa) Jt. Secy. G.S.R. 857 (E) F. No. 14/4/2000-DRT (Vol. II) Issued by: Ministry of Finance (Department of Financial Services) New Delhi
