Key Points
New Delhi: India has asked multilateral development banks (MDBs) to share their project implementation expertise and help draw the road map for becoming a developed nation by 2047...
The finance ministry held a meeting with multilateral lenders on March 7 and sought their inputs on what it termed a "budget-plus and finance-plus" strategy, which would essentially cover the entire spectrum of project execution and go beyond just planning and financing, people aware of the details told ET..
The ministry has reached out to various multilateral bodies to help mobilise other development finance institutions (DFIs) and investors, they said...
The ministry wants these MDBs - such as the World Bank and the Asian Development Bank - to also help develop strategies to reduce time and cost overruns, and enable knowledge and technology transfers, among others, they said...
The move comes amid expectations that various international entities - both public and private - could show greater alacrity in investing in Indian projects if these are backed by MDBs that enjoy top credit ratings and governance standards...
You might be interested in
PM Gati Shakti: Six infra projects worth Rs 52,000 crore recommended for approval
28, Sep, 23Six infrastructure projects worth Rs 52,000 crore have been recommended for approval under India's PM Gati Shakti initiative. This brings the total number of projects assessed to 112, with a total value of about Rs 11.53 lakh crore. The projects were assessed in a recent meeting of the Network Planning Group, which meets regularly to appraise infrastructure projects and ensure comprehensive development.
Corporates are investing through cash accruals, not loans: K.V. Kamath
14, Jan, 24Cash is not going out to repay bank loans, but to fund the business. And if you need something more, you then always have the capital market to look at, said veteran banker K. V. Kamath at the Mint BFSI Summit and Awards
India becomes Asian Infrastructure Investment Bank's top market for funding infrastructure projects
25, Oct, 23India Business News: India has become the largest market for the Asian Infrastructure Investment Bank (AIIB) due to the significant amount of infrastructure development ta
India needs country strategy to guide India-New Development Bank partnership: Ashwani K Muthoo
24, May, 23The absence of a country strategy poses challenges to project performance, Muthoo said in an interview with ET, even after expressing satisfaction over the execution of the first project his office evaluated in India. The New Development Bank, earlier called BRICS Development Bank, was set up in 2015 to finance public and private projects through loans, guarantees and equity participation.
Japan commits 232.209 bn yen for 9 projects in various sectors in India
20, Feb, 24Japan commits 232.209 bn yen for 9 projects in various sectors in India | World News
Interim Budget 2024: Check full text of FM Nirmala Sitharaman's speech here
01, Feb, 24The Finance Minister presented the Interim Budget 2024 in a speech that lasted for 48 minutes. The budget focuses on four main areas: women, poor, farmers, and youth. The government aims to empower the poor and has implemented various programs to achieve this. Direct Benefit Transfer has resulted in significant savings for the government, which has been used for the welfare of the poor. The budget also highlights initiatives for women empowerment, youth development, agriculture, infrastructure, and taxation reforms.
RBI pushes for stronger governance at banks
22, May, 23The Governor also emphasized the need for banks to ensure continued financial and operational resilience, according to a statement from the RBI. Reuters had earlier reported, citing sources, that bank executives at the meeting were urged to focus on keeping risk in check amid a high growth in credit.
Finance ministry asks PSU banks to take measures to strengthen cybersecurity
19, Nov, 23India Business News: NEW DELHI: The Finance Ministry has asked state-owned banks to review systems and processes related to their digital operation in view of the recent U.