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PRESS RELEASE: Asian Development Bank Loans $200m to Yes Bank of India to Fund Women’s Self-Help Groups, Small Farmers
The Asian Development Bank (ADB), a multilateral development finance institution based in the Philippines, has recently approved a loan of up to USD 200 million to Yes Bank Limited, an Indian commercial bank based in Mumbai. The loan will be on-lent to “2.5 million rural, low income women”[1] who are members of self-help groups and “up to 37,000 small-scale farmers”[1] working in rural areas of the country. The loan agreement also includes a provision for USD 1 million to be used for technical assistance for capacity building, including financial literacy training and product development.
- Categories
- Uncategorized
- Region
- South Asia
- Tags
- lending, microfinance
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Health Minister JP Nadda for Innovation of Cheaper New Drugs
Union Health Minister JP Nadda today underlined the need for innovation of new drugs at low cost which are affordable to the poorest, even as he sought to strike a balance between the commercial and medical spendings.
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- Health Care
- Region
- South Asia
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SunEdison, Adani to Invest $4 bln in Indian Solar Panel Plant
Solar power firm SunEdison and Indian conglomerate Adani Enterprises plan to invest up to $4 billion in what would be one of India's largest solar panel makers, a boost for Prime Minister Narendra Modi as he hosts an investment summit.On the sidelines of Modi's Vibrant Gujarat gathering of statesmen and business leaders, the two firms said on Sunday that the new joint venture project would manufacture low-cost photovoltaic solar panels, helping turn sunlight directly into electricity at cheaper rates.Solar energy in India costs up to 50 percent more than power from sources like coal.
- Categories
- Energy
- Region
- South Asia
- Tags
- renewable energy, solar
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Venture Capital Investors Plan $2 Billion New Funds for Indian Startups
Venture capital investors are on the road to raise nearly $2 billion, or about Rs12,400 crore, in new funds this year to power the next generation of emerging businesses in India's booming startup sector.
- Categories
- Investing
- Region
- South Asia
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Postal Bank Wins Government Backing in India
The government is looking to take the legislative route by next month to finalise the setting up of the Postal Bank of India and will soon approach the RBI to consider the postal department's application for a banking licence.
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- Uncategorized
- Region
- South Asia
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E-Wallets catching on in India
In a rush to board a train in time, Shivani Bhargava, a 19-year-old Delhi University student from Mumbai, ends up in a tight spot after she forgets her wallet at home. After getting down at the station in Delhi, she has to book a cab and reach her hostel at the earliest, but doesn’t have the cash or cards to do so. Enter Meru Cabs’ ‘cab wallet’. All she does is tap her mobile app and, voila, the payment is made. “Not only did I reach my hostel safely, but I also got a 30% discount,” says Bhargava.
- Categories
- Technology
- Region
- South Asia
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What Alibaba Is Getting With Its $575 Million Investment In Paytm
Alibaba Group and its financial-services affiliate Zhejiang Ant Small & Micro Financial Services Group’s planned $575 million investment in the online-payment and marketplace businesses of India’s One97 Communications called Paytm will be the Chinese company’s first major investment in India’s fast-growing e-commerce industry. A deal between the two companies will open the floodgates for large amount of cross-border trade between India and China. Here’s what you need to know about Paytm.
- Categories
- Technology
- Region
- South Asia
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Ujjivan Financial Services Clinches Single Largest Funding Deal in India’s Microfinance Sector
UK's Commonwealth Development Corporation (CDC), private equity investors CX Partners, Newquest and a unit of Bajaj Group are leading a Rs 600-crore investment in Ujjivan Financial Services, clinching the single largest funding deal in India's microfinance sector, sources directly familiar with the matter said.
- Categories
- Investing
- Region
- South Asia
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