Sol. India’s most-valued lender HDFC Bank Ltd crossed Rs5 trillion market capitalisation for the first time, making it only the third Indian company to achieve this milestone.
Sol. Amplus Energy Solutions announced entering into a pact with private sector lender Yes Bank for strategic tie-up to co-finance projects in the solar energy space in India.
Sol. Banking finance company AU Small Finance Bank has signed an MoU with LIC to offer Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). Under the MoU, LIC will give a life cover of Rs2 lakh in case of death to the customer at a nominal premium of Rs330 per annum.
Sol. MD and CEO of AU Small Finance Bank- Sanjay Agarwal, Headquarters- Jaipur, Rajasthan.
Sol. Indian Overseas Bank has signed an MoU with National Housing Bank for the Rural Housing Interest Subsidy Scheme (RHISS) of the Ministry of Rural Development. The aim of the RHISS is to provide subsidy for housing loans taken by those living in rural areas for construction and modifications of their dwelling units.
Sol. The government has announced 88,139 crore rupees capital infusion in 20 public sector banks, PSBs, during the current fiscal ending 31st March to boost lending and revive growth. IDBI Bank will get the most- Rs10,610 crore followed by State Bank of India 8,800 crore rupees.
Sol. The Ministry of Finance has announced that "Payments Banks and Small Finance Banks" will offer social security scheme Atal Pension Yojana (APY) to their subscribers. It was done to strengthen the existing channels of APY distribution.
Sol. According to the International Monetary Fund (IMF), India is projected to grow at 7.4% in 2018 as against China’s 6.8%, making it the fastest growing country among the emerging economies. Due to demonetisation and implementation of the Goods and Services Tax (GST), India’s economy slowed down a little bit to 6.7% in 2016.
Sol. India has overtaken the US to become the world’s third-largest steel producer and the country is now looking to bag the second spot from Japan. Country’s crude steel production grew by 6.2% to 101.4 million tonnes, MT, in 2017 compared to 95.5 MT in 2016, according to the report by World Steel Association.
Sol. Ashu Suyash is the MD and CEO of CRISIL.
Sol. Private sector Axis Bank launched the fourth edition of ‘Evolve’ in Coimbatore, Tamil Nadu. It is an annual multi-city knowledge series for Bank’s small and medium-sized enterprises (SME) customers. The current edition of 'evolve' is titled as “Transform your Family Business into your dream company”.
Sol. The Central Statistics Office (CSO) revised the gross domestic product (GDP) growth rate for 2015-16 to 8.2% from the earlier estimates of 8% and kept the 2016-17 growth unchanged at 7.1%. The real GDP or GDP at constant (2011-12) prices for the years 2016-17 and 2015-16 stand at Rs121.96 trillion and Rs113.86 trillion respectively, according to the CSO statement. The Central Statistics Office is a governmental agency in India under the Ministry of Statistics and Programme Implementation responsible for co-ordination of statistical activities in India, and evolving and maintaining statistical standards.
Sol. The government and World Bank signed a $100 million (about Rs 6,400 crore) loan agreement to promote rural economy in selected blocks of Tamil Nadu across 26 districts, benefiting over 4 lakh people.
Sol. Reliance Industries (RIL) become the first Indian company to cross the Rs6-lakh crore mark in market capitalisation as its shares touched a 52-week high of Rs 974.5.
Sol. The National Investment and Infrastructure Fund (NIIF) has made its First investment. NIIF has partnered with DP World to create an investment platform for ports, terminals, transportation and logistics businesses in India. The Corporate Headquarters of NIIF is in Mumbai.