December, 2023 -

AIIB Takes Lead in Rs 2.5k Crore Funding for Mahindra-OTPP’s Green InvIT

December 29, 2023

Asian Infrastructure Investment Bank (AIIB) is set to spearhead a fundraising round worth Rs 2,500 crore for the Sustainable Energy Infrastructure Investment Trust (InvIT) supported by the Mahindra Group. In this initiative, various domestic institutional investors (DIIs) will also be actively participating, according to sources familiar with the matter. Key Players in the Funding Round …

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ISRO To Launch India’s First X-Ray Polarimeter Satellite on Jan 1, 2024

December 29, 2023

ISRO (Indian Space Research Organisation) has been making significant strides in space exploration, and the year 2024 is set to begin with yet another groundbreaking mission. Following the successes of the Chandrayaan-3 and Aditya-L1 missions, ISRO is gearing up for its latest venture – the XPoSat mission. Scheduled for launch on January 1, 2024, …

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Government Initiatives to Boost Local EV Manufacturing

December 29, 2023

The government is actively engaged in discussions with both domestic and international stakeholders to formulate a policy aimed at enhancing local manufacturing of electric vehicles (EVs). A senior government official emphasized the ongoing talks with various countries, including Italy and Korea, and stressed the policy’s inclusivity for both domestic and foreign car manufacturers. Key Focus …

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Jammu and Kashmir Panchayati Raj Act Amended to Incorporate OBC Reservation

December 29, 2023

The Administrative Council (AC), chaired by Lieutenant Governor Manoj Sinha, recently approved crucial changes to the Jammu and Kashmir Panchayati Raj Act, 1989. The amendments focus on incorporating a definition of Other Backward Classes (OBCs) within the Act to facilitate their reservation in grassroots democratic institutions. Draft Submission and Examination The draft J&K Panchayati Raj …

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Tata Power Secures Rajasthan Transmission Project

December 29, 2023

Tata Power has emerged victorious in the bid for the Bikaner-III Neemrana-II Transmission project, a Special Purpose Vehicle (SPV) established by PFC Consulting, a subsidiary of Power Finance Corporation. The estimated cost of the project is ₹1,544 crore, with a targeted commissioning period of 24 months from the date of the project SPV transfer. Competitive …

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India Makes First-Ever Rupee Payment for the Purchase of Crude Oil from UAE

December 29, 2023

India, the world’s third-largest energy consumer, recently made a significant move by conducting its first-ever payment in rupees for crude oil purchased from the United Arab Emirates (UAE). This move is seen as part of a broader strategy to diversify oil suppliers, reduce transaction costs, and position the Indian rupee as a viable trade settlement …

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GCC Inks Free Trade Deal With South Korea

December 29, 2023

The Gulf Cooperation Council (GCC) has taken a significant stride in strengthening economic ties with major Asian partners by signing its second free trade agreement (FTA) this year. The recent accord, inked with South Korea, underscores the bloc’s commitment to fostering investment connections and diversifying its economic portfolio. Tariff Elimination and Trade Coverage As …

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RBI Approves ICICI Pru Mutual Fund’s Acquisition of Stakes in Federal Bank, RBL Bank, and Equitas Small Finance Bank

December 29, 2023

The Reserve Bank of India (RBI) has granted approval to ICICI Prudential Asset Management Company Ltd (ICICI AMC) for the acquisition of up to 9.95% stake in Federal Bank. The approval, issued on December 28, comes with certain conditions in accordance with the Banking Regulation Act, 1949, and RBI’s Master Direction and Guidelines on Acquisition …

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Wolfgang Schaeuble, German Political Giant, Passes Away At 81

December 29, 2023

Wolfgang Schaeuble, with over 50 years in the German parliament, has passed away at 81, concluding one of Germany’s lengthiest political careers, during which he played a crucial role in anchoring his country at the center of Europe. Early Political Career and Role in German Reunification Wolfgang Schauble, born in 1942 in Freiburg, southwest …

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RBI Identifies SBI, HDFC Bank, and ICICI Bank as Domestic Systemically Important Banks (D-SIBs)

December 29, 2023

The Reserve Bank of India (RBI) has reaffirmed State Bank of India (SBI), HDFC Bank, and ICICI Bank as Domestic Systemically Important Banks (D-SIBs). Notably, SBI and HDFC Bank have been shifted to higher buckets, necessitating increased D-SIB buffer requirements effective April 1, 2025. Bucket Classification and Requirements Bucket 5: No Designation Bucket 4: State …

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Monthly Archives: December 2023

AIIB Takes Lead in Rs 2.5k Crore Funding for Mahindra-OTPP’s Green InvIT

ISRO To Launch India’s First X-Ray Polarimeter Satellite on Jan 1, 2024

Government Initiatives to Boost Local EV Manufacturing

Jammu and Kashmir Panchayati Raj Act Amended to Incorporate OBC Reservation

Tata Power Secures Rajasthan Transmission Project

India Makes First-Ever Rupee Payment for the Purchase of Crude Oil from UAE

GCC Inks Free Trade Deal With South Korea

RBI Approves ICICI Pru Mutual Fund’s Acquisition of Stakes in Federal Bank, RBL Bank, and Equitas Small Finance Bank

Wolfgang Schaeuble, German Political Giant, Passes Away At 81

RBI Identifies SBI, HDFC Bank, and ICICI Bank as Domestic Systemically Important Banks (D-SIBs)

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