ECGC opens Tuticorin branch
Export Credit Guarantee Corporation (ECGC) has decided to open satellite branches at upcoming export centres in the country.
Export Credit Guarantee Corporation (ECGC) has decided to open satellite branches at upcoming export centres in the country.
The government of India is to set up an Export Insurance Guarantee Fund of Rs 20bn (US$444.3m) to provide risk cover for Indian exports.
India finally has a financial intelligence unit (FIU) for tracking money laundering offences. The Cabinet today gave its nod to set up the FIU as an independent unit of the Central Economic Intelligence Bureau (CEIB).
A Reserve Bank of India (RBI) panel constituted to evolve a debt restructuring system for small-and medium-sized enterprises (SMEs), has proposed a mechanism to be termed medium sector restructuring (MSR) system that would undertake restructuring
The International Finance Corporation has agreed to extend a loan of US$22m (around Rs 101 crore) to Kotak Mahindra Bank to help broaden the bank's funding base and support its operations.
The Export and Import Bank of India has extended a US$150 m loan to Sri Lanka for facilitating Indian oil major ONGC's export of petroleum products to the island nation.
With Indian companies queuing up to set up base in Europe, several government agencies are doing their bit to attract them.
To boost credit flow to the small-scale sector, the government is likely to introduce a credit rating scheme for small-scale industries (SSI) soon.
According to the World Intellectual Property Organisation (WIPO) small- and medium- sized enterprises (SMEs) are the driving force behind a large number of innovations and contribute to the growth of the national economy.
State Bank of India (SBI) formed its factoring company, SBI Factors (SBIF) in collaboration with UBI and SIDBI in 1991.
SBIF can draw on the huge branch network of SBI to collect factoring receivables from across the country.