Banking Affairs HDFC Bank its board had given nod to raise Rs 24,000 crore through a preferential issue of shares to its promoter HDFC Ltd and by issuing shares and depository receipts to fund the bank's growth plans.
The general meeting on February 19 to seek approval of its shareholders. "For this purpose, the board has authorized a special committee to decide terms and conditions," said the statement. According to the bank's fundraising plan, around Rs 8,500 crore worth of shares of the face value of Rs 2 each will be issued to mortgage lender and promoter HDFC Bank.
The World Bank committed $125 million (around Rs800 crore) loan to India for the STRIVE project for skill development.
The main objective of the operation (Skills Strengthening for Industrial Value Enhancement) is to improve access to quality and market-driven vocational training as well as apprenticeships. The financing agreement was signed between the World Bank and the Finance Ministry.
France's parliament has approved a law banning all exploration and production of oil and natural gas by 2040 within the country and its overseas territories.
Under that law that passed a final vote, existing drilling permits will not be renewed and no new exploration licenses will be granted.
The French government claims the ban is a world first.
Washington resident Shree Saini crowned Miss India USA 2017. While Prachi Singh from Connecticut was declared the first runner-up at the pageant, which was held at the Royal Alberts Palace in Edison, New Jersey.
Shree Saini is an anti-bullying activist. At the beauty pageant, cancer surgeon Kavita Malhotra Pattani from Florida was declared Mrs India USA 2017.
Swapna Mannam, 17, from New Jersey was crowned with Miss Teen India USA 2017.
The Skill Development Ministry and Maruti Suzuki have signed an agreement to impart training to youth and enhance their employment potential.
As part of the agreement with the Directorate General of Training, DGT, Maruti Suzuki will ensure that not less than 80 percent of trainees are placed with Maruti Suzuki or its business partners.
The government of Andhra Pradesh entered into an agreement with the moonshot factory of Alphabet (earlier Google) X to bring the breakthrough Free Space Optical. Communication (FSOC) technology in order to provide internet through the government Fibergrid project.
This association with X labs to implement FSOC in AP is first of its kind in the world to provide wireless internet connection at a higher speed of up to 20Gbps and to a distance of up to 20kms.
AU Small Finance Bank announced signing an MoU with Sahaj e-Village for extending its banking service in remote areas through Business Correspondent Agent (BC) model.
With this MoU, AU Bank will be able to further foster its mission of financial inclusion and greater customer outreach.
As per the agreement, the BCs will act as an intermediary between the Bank and the customers in the interior locations where the Bank does not have a presence.
YES Bank and the European Investment Bank will co-finance $400-million funding for renewable power generation in the country. The new financing programme will streamline financing for a range of renewable energy projects being built and operated by leading Indian corporations and private sector developers.
Of the $400-million, the EIB will fund $200 million, while the rest will be supported by YES Bank, the project promoters, and other financial institutions. The EIB loan of $200 million has a tenor of 15 years.
The Telangana state government’s prestigious Kaleshwaram Lift Irrigation Scheme (KLIS) has finally got the Green Nod from central government.
The expert appraisal committee (EAC) of the Union Ministry of Environment and Forest recommended the “proposal for grant of environmental clearance” in its meeting held in Delhi. The green nod for the project will be a big boost to the state government.
The Union Minister of State for Home Affairs, Shri Kiren Rijiju, inaugurated the first national-level training of trainers program to sensitize various Central Ministries and Departments on the utilization of Sendai Monitor for developing action plans for Disaster Risk Reduction (DRR) in New Delhi.
The three-day programme was organized by the National Disaster Management Authority (NDMA) in collaboration with the United Nations Office for Disaster Risk Reduction-Global Education and Training Institute (UNISDR-GETI).
The Assam government signed an MoU with Isha Foundation to conserve and rejuvenate the rivers of Assam.
Assam became the sixth state in the country to sign MoU with non-profit making and spiritual organization, the Isha foundation.
The agreement was signed by Assam CM Sarbananda Sonowal.
Indian Navy in collaboration with its Sri Lankan counterpart has successfully completed the second phase of the joint oceanographic survey conducted off the South Western Coast of Sri Lanka.
The survey commenced on 26 October with the arrival of Indian Naval Ship Sutlej in Sri Lanka.
The Indian side yesterday handed over the survey charts to the Commander of the Sri Lankan Navy.
A statement by of island nation Navy said the aim of the joint survey was to update all the navigational charts covering the southern Sri Lankan waters with the latest hydrographic data.
The survey extended to a depth contour of 200 m from the coastline, ranging from Colombo to Galle.
The move is expected to benefit the international shipping traffic passing the southern coast of Sri Lanka and will pave the way for the blue economy.
ICRA Management Consulting Services (IMaCS), an arm of ICRA, launched a set of four fixed income indices including one on corporate bonds. It aims to create more depth in the Indian debt market.
ICRA Gilt Indices, ICRA Liquid Indices, ICRA Corporate Bond Indices and ICRA Composite Debt Indices, the four indices launched, would help asset managers and financial services companies make an objective analysis and provide comprehensive benchmarking of debt portfolios.
Prime Minister Narendra Modi announced immediate financial assistance worth 325 crore rupees to cater to the requirements of cyclone Ockhi affected Kerala, Tamil Nadu and Lakshadweep.
According to an official release, the Centre will support the reconstruction of around 1400 houses fully damaged due to Cyclone Occhi under the Pradhan Mantri Awas Yojana and each beneficiary will get up to 1.5 lakh rupees.
The Insurance companies have also been advised to pay the insurance claims of people affected by Occhi cyclone expeditiously.
An ex-gratia assistance of 2 lakh rupees will be given to the next of kin of the deceased, and 50 thousand rupees to each of those seriously injured due to the cyclone.
Central Council for Research in Ayurvedic Sciences (CCRAS) for undertaking coordinating formulating, developing and promoting research on scientific lines in Ayurveda is set up by The Ministry of AYUSH.
The activities are carried out through 30 institute/Centres/Units under CCRAS located all over India and also through collaborative studies with various universities, hospitals and institutes.
The research activities of the council include medicinal plant research (Medico-ethno botanical survey, pharmacognosy and tissue culture), Drug Standardization Pharmacological Research, Clinical Research, Literary Research & Documentation, and other outreach activities.
Bharti Airtel Limited entered into a definitive agreement with Millicom International Cellular S.A. under which Airtel Rwanda Ltd will acquire 100% equity in Tigo Rwanda Ltd.
This comes after Airtel’s announcement to merge with Millicom, which operates the brand Tigo, in another African nation Ghana.