-Outlook Multilateral lending agency Asian Development Bank (ADB) will provide loan of USD 2 billion annually for five years till 2017 to India to create jobs, enhance investment reforms, and improve infrastructure. "The ADB and Government of India have agreed to a new country partnership strategy for 2013-2017 which supports the country's 12th Five Year Plan .... The strategy comes with a financial envelope of around USD 10 billion...," the Manila based...
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Nabard to ensure fast funds to states battling storage crisis
-The Economic Times KOLKATA: Eastern and North Eastern states, which grapple with acute storage deficit, will get a priority in fund allocation for setting up warehouses, National Bank for Agriculture and Rural Development (Nabard ) said. States with food deficits like Jammu and Kashmir will also receive a priority treatment. The government has directed Nabard to treat these states favourably to cut farm losses amid implementation of the world's biggest population feeding...
More »NABARD now offers loans to corporate sector-Nagesh Prabhu
-The Hindu Bangalore: In a major shift in its lending practice, the National Bank for Agriculture and Rural Development (NABARD) has opened a lending window to the corporate sector for construction of warehouses and creation of cold storages and cold chains. NABARD had only been granting soft loans to State governments for social sector projects. Speaking to The Hindu on Monday, G.R. Chintala, Chief General Manager (CGM), Regional Office, Bangalore, said it was...
More »Private banks reluctant about rural lending -Dinesh Unnikrishnan
-Live Mint Experts say private banks achieve lending obligations by buying out loans from non-banking entities Most private banks in India have not been able to meet the needs of farmers although they are expanding their rural and semi-urban branch network. This is why the Reserve Bank of India (RBI) is insisting that at least one-fourth of the branches of the new banks that will be given a licence must be located...
More »IMF says India shouldn’t rush to give banking licences to conglomerates-Remya Nair and Asit Ranjan Mishra
-Live Mint The International Monetary fund (IMF) has warned India against licensing corporate entities to step into the business of commercial banking, saying the risks associated with such a move potentially outweigh the benefits of creating more banks. IMF’s Financial System Stability Assessment Update said it would be prudent for India to first put in place and gain sufficient experience in implementing a comprehensive framework for the purpose before considering the entry...
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