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India has secured a $98 million loan from the Asian Development Bank to enhance productivity in horticulture crops by providing farmers with certified disease-free planting materials. This initiative aims to establish clean plant centers, improve crop yields, and boost resilience against climate impacts, aligning with the government's Atmanirbhar Clean Plant Programme.from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/SpYn0Zr
Bank Holidays December 2024: Bank closures in December 2024 will occur for various regional and national holidays. Notable dates include Feast of St. Francis Xavier, Goa Liberation Day, and Christmas. Specific closures vary by state, with the Reserve Bank of India providing the schedule.
Top Bank FD rates: Several small finance banks offer competitive fixed deposit rates up to 9% for three-year terms. While these rates are attractive, depositors should be aware of the Rs 5 lakh DICGC insurance limit and invest prudently.
Vodafone Idea's shares surged nearly 18% after the government waived bank guarantees for spectrum dues. This move significantly benefits Vi, which faced a substantial obligation.
GQG Partners, a major investor in Adani Group, warns that US bribery allegations against Gautam Adani could hinder the conglomerate's access to international funding. While Indian banks continue lending, GQG notes any negative government action could significantly impact the group. The US indictment alleges Adani Green employees, including Gautam Adani, bribed Indian officials for solar contracts, impacting subsequent fundraising efforts.
The Indian government has provided significant financial relief to telecom companies by removing the requirement for bank guarantees on past spectrum purchases. This move, exceeding Rs 30,000 crore in relief, will particularly benefit Vodafone Idea, which faced a substantial financial burden. While aiding the industry's financial health, certain conditions ensure protection against potential payment defaults.
The Reserve Bank of India has substantially increased its gold reserves, offsetting foreign investment outflows. This aligns with a global trend of central banks accumulating gold amidst geopolitical uncertainty. The RBI's gold purchases have contributed to a rise in overall foreign exchange reserves and are expected to continue.
