Exim Bank seeks additional Rs.800 crore from govt.
The Dollar Business Bureau The Export-Import Bank of India (Exim Bank) on Wednesday sought additional Rs.800 crore equity infusion from the government this financial year. So far, this financial institution has received about Rs.500 crore. Exim Bank Chief Managing Director Yaduvendra Mathur said the growth this fiscal could be muted due to equity constraints and last-year released India Development Economic Assistance Scheme (IDEAS) guidelines. During 2015-16, Exim Bank had disbursed about Rs.50,000 crore, thereby registering a growth of about 18%. The bank had secured about Rs.1,300 crore in fresh equity from the government. “Disbursals could be the same as last year. There will be challenges this year. We are requesting the government to inject more equity. We got only Rs.500 crore and we ...
Govt plans to develop waterport hubs to boost international trade
The Dollar Business Bureau The government is planning to establish three multi-modal waterport hubs to accelerate shipment of goods within India as well as facilitate trade flows with neighbouring countries. The three waterports will be developed in Sahibganj in Jharkhand, Haldia in West Bengal and Varanasi in Uttar Pradesh, Union Minister of Road Transport and Highways Nitin Gadkari said. “The ministry is working towards establishing a ‘waterport’ – a waterways port – in Sahibganj in the state of Jharkhand that will accelerate import and export of goods between India and Bangladesh,” Gadkari said. Inland waterways make a paltry 3% of the entire transportation in India. China carries 47% of its total transportation through Inland waterways, while the European Union conducts 44% ...
