SBI lists USD 100 million Green Bonds on India INX
- The State Bank of India has listed green bonds of USD 100 million (about Rs. 750 crores) on BSE's India International Exchange (India INX) debt listing platform.
- The bank has done this under its USD 10 billion global medium-term note program on the Global Securities Market Green Platform (GSM) of India INX.
- Earlier also, the bank listed its maiden green bond of USD 650 million on India INX.
IIM-B & ICICI Securities launch Program for Fintech Startups
- ICICI Securities (I-Sec) has partnered with IIM Bangalore's startup hub N S Raghavan Centre of Entrepreneurial Learning (NSRCEL) to support startups in the fintech space through a program.
- This partnership has been done as a part of its CSR initiative.
- ICICI Securities (I-Sec) is the broking and investment banking arm of ICICI Bank.
- The duration of this structured program to support fintech startups will be 15 months.
- The program will be for startups working in fields like insurance, banking, payments, personal finance, wealth advisory, trading, etc.
PNB Housing Finance signs pact with JICA to raise $75 million
- PNB Housing Finance has signed an agreement with Japan International Cooperation Agency (JICA) in order to raise $75 million which is equal to about Rs 568 crores.
- It will also have a co-financing of 25 million dollars (about Rs 190 crore) by Citibank.
- The agreement has been signed to finance mortgage loans in the affordable housing segment.
- This is the first debt funding of JICA in the Indian housing finance sector.
Airtel Payments Bank will offer COVID-19 Insurance Policy
- Airtel Payments Bank has partnered with Bharti AXA General Insurance to launch an insurance policy for protection against COVID-19.
- Through this partnership, two different health insurance plans will be offered to savings bank account customers of Airtel Payments Bank who are not suffering from COVID-19 or its symptoms.
- These two insurance plans are- Bharti AXA Group Health Assure and Group Hospital Cash.
- Bharti AXA Group Health Assure will provide a lump sum benefit of Rs 25,000 to the customers.
- Group Hospital Cash will offer a fixed day allowance starting from Rs 500 per day on hospitalization.
SIDBI to provide Emergency Working Capital to MSMEs
- The Small Industries Development Bank of India (SIDBI) will provide emergency working capital of up to 1 crores to MSMEs.
- This emergency fund will be provided to fight against coronavirus and will be termed as a SAFE plus.
- These SAFE PLUS loans will be offered collateral-free and will be disbursed within 48 hours.
India's fiscal deficit may reach to 6.2% of GDP in FY21
- According to Fitch Solutions, India's fiscal deficit in 2020-21 may reach to 6.2 percent of the GDP from the government estimate of 3.5 percent.
- It also estimated that receipts may contract by 1 percent from a growth of 11.8 percent previously due to a decrease in revenue collection.
RBI increases WMA limit of States, UTs by 30%
- The Reserve Bank of India has increased the Ways and Means Advances (WMA) limit for state governments and Union Territories by 30 percent till September 30.
- The bank has also provided an extra time of 6 months to the exporters to realize their export proceeds.
PhonePe launches "Corona Care"
- PhonePe has launched a unique coronavirus hospitalization insurance policy called "Corona Care" in partnership with Bajaj Allianz General Insurance.
- This policy will provide an insurance cover of Rs 50,000 for a person aged less than 55 years at a price of Rs 156.
- It will also cover expenses related to pre-hospitalization costs and post-care medical treatment for 30 days.
