Artiana will consider individual artworks and collections of blue chip Indian ﬁne art as collateral. Artworks must be freely marketable and produced by prominent artists with an existing track record in the secondary market.
The Public Investment Fund said in a statement that it had obtained an $11 billion (9.4 billion euro) loan as "the first step in its strategic, medium-term debt funding programme".
Reports of taking on debt from multilateral agencies like the World Bank come at a time when the Centre has refused foreign aid
The bank, which has the highest bad loan ratio in the system with over 25 percent, is offering an interest rate in the range of 8.90 percent to 9.50 per annum in auto loan and 12 percent to 14 percent per annum in personal loan.
Data now shows that this elixir of political survival is causing structural damage and needs to be stopped before it becomes irreversible.
Reckless and impulsive borrowing can lead people into debt trap which they might find difficult to extricate themselves from.
"The project size is approximately USD 31 million, of which USD 21.7 million will be financed by the World Bank, and the remaining amount will be funded-out of the state budget," it said, adding that the Project duration is 5 years.
The loan will support the first phase of scaling up of interventions in 315 districts across all states and union territories, according to an official statement.
The project will cover 10,510 km stretch of rural roads in Madhya Pradesh that fall under the Chief Minister's Gram Sadak Yojana (CMGSY) programme.
"Approximately 1.5 million rural residents in Madhya Pradesh stand to directly benefit from improved livelihoods, education and mobility with the USD 140-million loan approved by the Board of Directors of the Asian Infrastructure Investment Bank," said a statement issued by the AIIB.
The agency questioned three officials from foreign branches of Indian banks, which had given credit facilities to the companies of absconding billionaire jewellers Nirav Modi and Mehul Choksi, on the basis of Letters of Undertaking (LoUs) issued by Punjab National Bank's Brady House branch in Mumbai.
The Exim Bank entered into an agreement with the Bangladesh government on October 4, 2017 to extend this line of credit facility on behalf of the Indian government, the RBI said in a notification.
The line of credit of USD 500 million to EBID will finance various development projects in the ECOWAS region, Exim Bank said in a release.
Subramanian also regretted that recent banking frauds, including the one at Punjab National Bank (PNB), have resulted in a set back to efforts being made to resolve the bad loan problem under the Insolvency and Bankruptcy Code (IBC).
They plan to 'gherao' the Maharashtra Vidhan Sabha after reaching Mumbai on March 12, said Sunil Malusare of the All India Kisan Sabha (AIKS), which has organised the protest.
The budget was passed after Chief Minister Raje gave her reply to the debate on appropriation bill while making several announcements.
SP activists led by its state president Rabi Behera staged a demonstration before the CBI state headquarters here and submitted a memorandum to the premier investigation agency.
The announcement follows a decision by the SFO in June last year to charge Barclays PLC, or the unit's parent group, over the same alleged offence.
This is the second arrest in the case after the agency in November last year held Delhi-based businessman Gagan Dhawan from here.
Gold loan companies are expected to continue delinking the gold price volatility risk by offering more variants of lower tenure loan products, it said.
The minister said the former RBI governor, while addressing a conference organised jointly by NABARD and SIDBI, had also stated that loan waivers and subsidies "distort the credit discipline".
The state's cooperation and marketing department today issued a Government Resolution (GR) for the allocation of Rs 14,240 crore for the Chhatrapati Shivaji Maharaj Shetkari Sanman Yojana - the loan waiver scheme announced on June 24 last year.
The private sector bank has concluded the syndicated term loan facility from a group of overseas investors, it said in a regulatory filing.
Speaking in the Assembly, Fadnavis said, "The banks made mistakes in the account numbers and names of account holders. It leads to confusion as names of a Shiv Sena MLA and a former NCP MP were listed as beneficiaries."
The IMF board approved the latest USD 2 billion disbursement under the deal signed in November 2016, after a fund team last month praised Cairo's progress on "bold" economic reforms.