Financial Institution

AIIB should strive for more innovative financing models: FM Sitharaman

Finance Minister Nirmala Sitharaman on Monday said the Asian Infrastructure Investment Bank (AIIB) should strive for greater provision of innovative financial models and scale up efforts for private capital mobilisation. The minister in her meeting with the AIIB delegation, comprising 11 officials of the Board of Directors of AIIB and senior representatives and staff, said India could act as a sandbox for AIIB's piloting of innovative financing models and technologies. Sitharaman, who is also Governor on the AIIB Board, stated that the multilateral institution should broaden its investment in priority sectors of climate adaptation and resilience, infrastructure development, energy security, urban development and extend support for India's next generation reforms, an official statement said. She also stressed upon the importance of continually incorporating finance plus and budget plus elements in AIIB's project design and implementation. "Sitharaman further suggested that AIIB shou

Institutions rule: COCD's path to the Nobel in economics this year

Why Colonial Origins of Comparative Development is Nobel-worthy

Govt notifies NaBFID as a public financial institution under Companies Act

The government has notified the National Bank for Financing Infrastructure and Development (NaBFID) as a public financial institution under the Companies Act. This will help the government fortify the nation's infrastructure finance structures. In a notification issued on September 10, the Corporate Affairs Ministry said that in exercise of the powers, Section 2 of the Companies Act, 2013, the Central Government, in consultation with the Reserve Bank of India, hereby notifies National Bank for Financing Infrastructure and Development as a "public financial institution". The move will enhance the bank's capacity to finance large-scale infrastructure projects, thereby bolstering the country's infrastructure development. NaBFID, a specialised Development Finance Institution (DFI), was set up in 2021, by an Act (The National Bank for Financing Infrastructure and Development Act, 2021). The Bank was set up with the essential objectives of addressing the gaps in long-term non-recourse

72% Indians believe financial institutions collect more data than required

The survey further added that a resounding 86% of users express a desire for granular control over data sharing

Financial firms in last-minute rush to comply with Trai mandate on URLs

Most banks said they do not send marketing content in messages containing URLs, so the Trai mandate may not cause disruption for their customers

Financial institutions plan annual ESG spending of up to $500,000: Study

More than half of global financial institutions find keeping up with changing regulations as a challenge in meeting ESG goals

PayU invests $5 million in cross-border payments start-up BRISKPE

BRISKPE will use the funding to improve its product and service offerings, expand its team, and scale its services

From Federal Bank to L&T Finance, cos see robust disbursements in Q4 FY24

During the quarter under review, the CASA ratio of the lenders continued to remain under pressure

15 years since US bank Lehman Brothers fall: Looking back to look ahead

15 years ago, a US investment bank collapsed and changed the financial world forever. Or, did it?

Centre may revamp framework for setting state-owned banks' targets

New framework could be on lines of earlier 'Statement of Intent' used to fix annual targets, will monitor performance on parameters such as return on assets, NPA, financial inclusion initiatives

FSIB recommends former Union Bank of India MD for post of NaBFID MD

The Centre, earlier this month, transformed the Banks Board Bureau into FSIB and expanded the headhunter's role to suggest appointments for PSU banks, insurance companies and financial institutions

Annapurna Fin eyes Rs 8,500 cr in assets by March 23; mulls SME credit arm

Gets $15 mn in equity from French investors, total fundraise reaches $100 mn

US didn't cut off Russia from SWIFT to prevent unwanted consequences

SWIFT is a global cooperative of financial institutions that began in 1973

Finance Ministry invites entries for new DFI's name, tagline and logo

The finance ministry on Wednesday invited entries from citizens for name, tagline and logo for the new Development Financial Institution

Battling wilful defaulters

With high pressure on profitability and credit costs, banks and FIs have stepped up action against them