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STANDBY CREDIT FACILITY
Banks can offer loans for FCNR (B), rebook deposits, RBI clarifiesIndian banks can now lend against FCNR(B) deposits, with the RBI offering forex swaps only on the principal amount. This move aims to attra...- RBI clarifies FCNR(B) loan, SBLC eligibility under swap schemeIndian banks can now offer loans to non-residents and issue standby letters of credit against FCNR(B) deposits under a new RBI swap facilit...
- Banks seek RBI clarity on leveraged NRI FCNR deposit structuresIndian banks are seeking clarity from the RBI on allowing overseas branches to lend to non-residents for FCNR(B) deposits. Some lenders, li...
- Banks seek RBI nod on Guarantee Rule to boost NRI deposit inflowsBanks are urging the RBI to clarify regulations for the new FCNR deposit scheme, aiming to attract diaspora funds. They seek a tweak in wor...
- From tax exemption to FCNR(B) deposits: How India is trying to attract foreign capitalIndia is taking steps to attract foreign investment and boost its economy. The Reserve Bank of India and the government have introduced new...
- RBI offers concessional swaps, allows leverage for NRI deposits to drive forex inflowsThe Reserve Bank of India has introduced new foreign exchange measures. These include special swap facilities to encourage state-owned comp...
- Deposits under RBI's latest foreign currency non-resident bank scheme will carry one-year lock-inThe Reserve Bank of India's new FCNR-B scheme offers a one-year lock-in for deposits and mandates non-cancellable swaps for banks. This ini...
- Banks seek easing of guarantee curbs to draw more NRI fundsIndian banks are asking the Reserve Bank of India to remove a guarantee restriction. This move aims to attract money from the Indian diaspo...
- For both the compulsive trader and careful investor: 25 stocks to watch if risk appetite returns; some with upside potential, some notIf the price of crude oil softens, Indian equities may again see a risk-on phase. Tariff concerns are no longer the central issue; the larg...
- ED chargesheets UK national in probe against Videocon GroupThe Enforcement Directorate has filed charges against Sachin Dev Duggal, a British citizen, in a major bank loan fraud case involving the V...
- Sterling Oil admitted for bankruptcySBI had moved the bankruptcy court after the company defaulted on its dues of nearly ₹1,655 crore. The Mumbai bench of the National Company...
- Modi, Bhutan King meet; India to step up supportThe assurance of assistance was extended when the visiting King of Bhutan Jigme Khesar Namgyel Wangchuck met PM Narendra Modi. While India ...
- ET in the Classroom: Can you get a bank guarantee to boost your business?There are times when a customer may not directly want loan, but a letter of comfort is sufficient to clinch a deal.
- Rane (Madras) buys US-based Precision Die Casting for $2 millionRane (Madras) Ltd has incorporated wholly-owned subsidiary Rane (Madras) International Holdings B V (WOS) in Netherlands and has infused US...
- RBI asks banks to streamline lending policies for MSEsThe Reserve Bank today asked all scheduled commercial banks to streamline their lending policies for the Micro and Small Enterprises (MSEs)...
- Standard Chartered takes over Winsome Diamonds' assetsStandard Chartered, that lent money to Winsome Diamonds against L/Cs provided by Indian banks, has taken possession of the erring firm’s im...
- PM talks about GMR project;extends $25 million credit to MaldivesPM said that the increase in Indian investments in Maldives would also contribute to expansion of economic relations.
- We have not asked for funds under standby credit facility: MaldivesAmid reports that India has stopped funds to Maldives over unilateral decision to terminate GMR contract, Maldivian government today said i...
- India announces USD 100 mn credit facility to MaldivesPrime Minister Manmohan Singh today announced a USD 100 million Standby Credit Facility to Maldives and a number of other key initiatives.
- Banks can issue guarantee letters to meet payment obligationThe Reserve Bank gave approval to the banks to issue guarantee through standby letters of credit to cover payment obligations arising out o...
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