Standard Chartered Bank Funds DCM Shriram with Rs 100 Cr
In a significant development for India’s clean energy sector, DCM Shriram Ltd. has secured a ₹100 crore sustainable finance loan from Standard Chartered Bank. This loan marks a major step forward for DCM Shriram’s environmental sustainability goals and will be used to fund the construction of a new compressed bio-gas (CBG) plant in Uttar Pradesh. […]
HDFC Bank’s HDB Financial: Japan’s MUFG Takes 20% Stake
In a move poised to reshape India’s financial services industry, Japan’s Bank of Tokyo-Mitsubishi UFJ (MUFG) is reportedly on the verge of acquiring a 20% stake in HDB Financial Services, a non-banking subsidiary of HDFC Bank. This strategic investment, valued at a significant $2 billion, marks a major development for both institutions and underscores the […]
SBI, Standard Chartered Embrace New RBI Norms in CDS Trade
The Indian financial sector witnessed a watershed moment on April 4th, 2024, as the country’s leading lender, State Bank of India (SBI), joined forces with Standard Chartered Bank India to execute the first-ever Credit Default Swap (CDS) trade valued at ₹25 crore. This pioneering transaction serves as a tangible outcome of the Reserve Bank of […]
Policybazaar, ICICI Lombard: Partnership for Insurance Growth
In a significant move to bolster insurance penetration in India, which currently stands at around 4.2%, ICICI Lombard General Insurance Company Limited has formed a strategic partnership with Policybazaar, India’s leading insurance marketplace platform boasting over 100 million users. This collaboration leverages Policybazaar’s established digital platform to offer a comprehensive suite of insurance products to […]
SBI, ICICI as Third-party Liaisons for European Banks
A significant shift is brewing in the Indian banking sector as State Bank of India (SBI) and ICICI Bank are being evaluated as potential third-party liaisons for European banks. This development arises from an unresolved issue surrounding the Clearing Corporation of India Limited (CCIL). European Banks Grapple with CCIL Deadline European banks currently rely on […]
HDFC Breaks Ground: First Private Bank in Lakshadweep
HDFC Bank has etched its name in the annals of financial inclusion by opening its maiden branch in Lakshadweep, a remote island territory of India. This groundbreaking move marks HDFC as the frontrunner among private banks to establish a physical presence in Lakshadweep, signalling the bank’s commitment to serving every corner of the country. Empowering […]
SINE, IIT Bombay, Canara Bank Enhance Startup Funding
In a move heralded as a significant boost for India’s burgeoning startup scene, the Society for Innovation & Entrepreneurship (SINE) of the Indian Institute of Technology Bombay (IIT Bombay) announced a collaborative effort with Canara Bank. This partnership, formalized through a Memorandum of Understanding (MoU) signed on April 3rd, 2024, aims to streamline financial assistance […]
RBI’s Industry Survey: Manufacturing Companies
The Reserve Bank of India (RBI) launched the 65th round of its Order Books, Inventories and Capacity Utilisation Survey (OBICUS) on April 9, 2024. Initiated in 2008, this critical quarterly survey serves as a vital tool for the RBI to gauge the health of the manufacturing sector and shape its monetary policy decisions. Data for […]
HDFC Credila Raises $100M via ECB Route for Loan Expansion
HDFC Credila, a leading education-focused lender in India, announced on Tuesday, April 9, 2024, that it has successfully raised USD 100 million through the External Commercial Borrowing (ECB) route. This strategic move aims to fuel the company’s loan book expansion and cater to the burgeoning education loan market in India. The Indian education loan market […]
SIDBI, KarmaLife Offer Gig Workers Micro Loans
The Small Industries Development Bank of India (SIDBI) has partnered with fintech platform KarmaLife to provide much-needed financial support to gig workers. This pilot program aims to bridge the gap in financial inclusion for this segment of the workforce, by offering microloans specifically tailored to their needs. A Growing Workforce in Need of Support The […]