Cabinet approves ₹6,000 crore capital infusion in Exim Bank
5 years, 11 months ago

Cabinet approves ₹6,000 crore capital infusion in Exim Bank

Live Mint  

New Delhi: The government Wednesday approved a capital infusion of ₹ 6,000 crore in state-owned Exim Bank to expand its business. The Union Cabinet, chaired by Prime Minister Narendra Modi, also approved an increase in the bank’s authorised capital from ₹ 10,000 crore to ₹ 20,000 crore. Briefing reporters about the decisions, Railway Minister Piyush Goyal said it has been decided to issue recapitalisation bonds by the government of India to the tune of ₹ 6,000 crore for capital infusion in Export-Import Bank of India. Exim Bank is the principal export credit agency in India and the infusion will give an impetus to new initiatives such as supporting Indian textile industries, likely changes in the Concessional Finance Scheme, likelihood of new letters of credit in future in view of the country’s active foreign policy and strategic intent, he added.

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History of this topic

EXIM Bank raises $1 billion through overseas bonds
2 days, 20 hours ago

EXIM Bank raises $1 billion through overseas bonds

The Hindu  

EXIM Bank on Tuesday said it has raised $1 billion through an overseas bond issuance at very competitive rates. The Department of Financial Services termed it as a "fantastic start" to the year by Indian issuers in global capital markets with EXIM raising the money in the USD denominated public bond issuance. The statement from EXIM Bank said half of …

Stocks to Watch Today: TCS, Veranda, Voda Idea, Exim Bank, and Others
2 years, 8 months ago

Stocks to Watch Today: TCS, Veranda, Voda Idea, Exim Bank, and Others

News 18  

The key benchmark indices are likely to start trade for the week on a quiet note amid subdued global cues. Luxury carmaker Jaguar Land Rover continued to face the risk of global semiconductor shortage as its retail sales fell sharply by 36 per cent year-on-year to 79,008 vehicles in Q4FY22 and the sequential decline was just 1.4 percent. The Jaguar …

Exim Bank Hits International Bond Market With $1 Billion Issue
4 years ago

Exim Bank Hits International Bond Market With $1 Billion Issue

News 18  

The Exim Bank is in the international bond market with an over USD 1 billion dollar money issue, merchant bankers have said. The bank is in the dollar money market with a seven-year bond issue, selling Reg S bonds worth at least USD 1 billion. In the first week of January 2020, the bank had raised USD 1 billion in …

Finance Minister Nirmala Sitharaman announces ₹65,000-cr fertilizer subsidy for farmers
4 years, 1 month ago

Finance Minister Nirmala Sitharaman announces ₹65,000-cr fertilizer subsidy for farmers

The Hindu  

Finance Minister Nirmala Sitharaman on November 12 announced a ₹65,000-crore fertilizer subsidy for farmers as part of her stimulus package to boost the economy. She said ₹65,000 crore is being provided to ensure adequate availability of fertilisers to farmers and to enable timely accessibility of fertilisers in the upcoming crop season. Ms. Sitharaman further said, ₹3,000 crore will be released …

Exim Bank Extends $400 Million Line of Credit to the Maldives
4 years, 2 months ago

Exim Bank Extends $400 Million Line of Credit to the Maldives

News 18  

The Export-Import Bank of India on Monday said it has extended a $400 million Line of Credit for the Greater Male Connectivity Project in the Maldives. Projects covered under the LoCs extended to the Maldives include the Greater Male Connectivity Project, water & sewerage projects, the Addu Development Project, the International Cricket Stadium Project, the Gulhifalhu Port Project, the Hanimaadhoo …

Indian Overseas Bank to receive fresh capital infusion of Rs 4,360 cr from govt this financial year
5 years ago

Indian Overseas Bank to receive fresh capital infusion of Rs 4,360 cr from govt this financial year

Firstpost  

Indian Overseas Bank has reported widening of net loss to Rs 2,253.64 crore for the quarter ended September 30, 2019. New Delhi: Indian Overseas Bank on Friday said it will get a fresh capital infusion of Rs 4,360 crore from the government in the current financial year for meeting the regulatory requirements. “The bank has received vide letter dated 25 …

Allahabad Bank shares jump 11% on fresh capital infusion; lender to receive Rs 2,153 cr from govt this financial year
5 years ago

Allahabad Bank shares jump 11% on fresh capital infusion; lender to receive Rs 2,153 cr from govt this financial year

Firstpost  

Allahabad Bank had not featured in the list of banks that were approved a total fresh capital infusion of Rs 55,250 crore, as announced on August 30 by the government. New Delhi: Shares of Allahabad Bank on Friday jumped 11 percent after the company said it will get a fresh capital infusion of Rs 2,153 crore from the government in …

5 public sector banks get shareholders’ nod for capital infusion of ₹21,428 cr
5 years, 9 months ago

5 public sector banks get shareholders’ nod for capital infusion of ₹21,428 cr

Live Mint  

Five state-owned banks, including PNB, Bank of Baroda and Union Bank, Thursday received shareholders' approval for capital infusion to the tune of ₹21,428 crore in lieu of preferential allotment of shares to the government. Punjab National Bank in a regulatory filing said that an extraordinary general meeting of shareholders was held on March 28 for obtaining shareholders' approval to issue …

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