LIVE MARKET TRACKER :   BSE SENSEX        |    NSE NIFTY    
GLOBAL MARKETS :  NASDAQ      |    FSI London      |    NIKKEI Japan  
  USD GBP EUR CAD AUD INR
USD -
GBP -
EUR -
CAD -
AUD -
INR -
Indian-Commodity  :  Economy  :  Govt wants to increase ADB's lending commitment to India

Govt wants to increase ADB's lending commitment to India (04-May-2018)

In order to meet funding requirement for infrastructure development, the government wants to increase the Asian Development Bank's (ADB) lending commitment to India, the world's fastest-growing major economy. Economic Affairs Secretary Subhash Chandra Garg would meet ADB president Takehiko Nakao where he would push for increasing the ADB's lending to India. Also realignment of the ADB's lending priorities in line with 'Strategy 2030' of the multilateral lender would be discussed.

India will support the ADB's plan to offer more resources for poverty mitigation and projects addressing climate change. ADB commits about $3 billion investment in a year, including that from its private sector lending arm, for India. Besides, Garg said that the $3 billion is a commitment that ADB makes and disbursement takes place subsequently based on project implementation. Stating that the ADB focuses on transport and energy sector in India, he said that the ADB is now planning to make a little more direct focus on poverty reduction and climate change.

The Secretary further said that ADB still continue to say that infrastructure is their main focus even going forward. He also said that they continue to feel ADB has lot of experience and advantage in financing infra development in the country. But, he said that going forward if they change somewhat more towards social sector, poverty reduction that realignment is fine. He added that Manila-based ADB has so far committed 209 sovereign loans totalling $35.9 billion to India.


Top News Today
Future Enterprises gets nod to raise funds up to Rs 1,500 crore
(26-May-2018)

Future Enterprises gets nod to raise funds up to Rs 1,500 croreFuture Enterprises has received its board's approval to raise funds by issue of Secured Redeemable Non-Convertible Debentures (NCDs) for a value up to Rs 1,500 crore in one or more tranches within a period......click on news to read complete article.

IFCI recovers Rs 280 crore from Bhushan Steel
(26-May-2018)

IFCI recovers Rs 280 crore from Bhushan SteelIFCI has recovered Rs 280 crore from debt-ridden Bhushan Steel under the insolvency process. The company also received over 5.79 lakh equity shares of Bhushan Steel, having face value of Rs 2 per share.IFCI......click on news to read complete article.

Sun Pharma reports 7% rise in Q4 consolidated net profit
(26-May-2018)

Sun Pharma reports 7% rise in Q4 consolidated net profitSun Pharmaceutical Industries has reported results for the fourth quarter and year ended March 31, 2018.The company has reported a rise of 83.30% in its net profit at Rs 176.26 crore for the quarter ended......click on news to read complete article.

International Stock News
US markets end mostly in red on Friday
(26-May-2018)

US markets end mostly in red on FridayThe US markets ended the choppy day of trade mostly in red terrain as some traders were away from their desks, looking to get a head start on the long Memorial Day weekend. Geopolitical uncertainty also......click on news to read complete article.

US markets end mostly in red on Friday
(26-May-2018)

US markets end mostly in red on FridayThe US markets ended the choppy day of trade mostly in red terrain as some traders were away from their desks, looking to get a head start on the long Memorial Day weekend. Geopolitical uncertainty also......click on news to read complete article.

US markets end lower on Thursday
(25-May-2018)

US markets end lower on ThursdayThe US markets ended in red terrain on Thursday, as geopolitical worries hovered over markets after Trump called off the summit that was set to take place June 12 in Singapore. The cancellation followed......click on news to read complete article.

 

     
  
Recent Economy News
 
EquityInvestmentCompany ReportsIPO
Disclaimer
By clicking on this page you accept all the terms and conditions framed by us. News made available here are for informational purpose only. While utmost care has been taken in providing the same. We claim no responsibility for its accuracy. Readers of this blog who make their decision based on the information posted here are solely responsible for their actions.