Indian banks revise financing norms for gems and jewellery exporters

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Gem and jewellery exporters might see better news when the next financial year’s assessments for financing them are finalised. In the year since the Nirav Modi fraud came to light, all banks having tightened their financing to the sector. Many exporters had their lending limits cut. The Gem & Jewellery Export Promotion Council, been able to convince State Bank […]

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India’s central bank amends Gold Monetisation Scheme to make gold deposits more attractive

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The Reserve Bank of India (RBI) has made changes in the Gold Monetisation Scheme (GMS) to make it more attractive, revamping the scheme aimed at enabling people to open a hassle-free gold deposit account. In 2015, the government had launched the GMS with the objective of mobilising the gold held by households and institutions in […]

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India’s Small Farmers’ Agribusiness Consortium to launch online platform for farmers to connect with potential buyers

India’s Small Farmers’ Agribusiness Consortium (SFAC) jointly with industry body FICCI will launch a unique online portal, which will enable Farmer Producer Organisations (FPOs) to connect with potential buyers, in order to further strengthen its efforts to create effective market linkages for FPO across the country SFAC, a specialised agency under the Ministry of Agriculture, has played a […]

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Indian banks might soon start trading in commodity derivatives

Following the Reserve Bank of India’s (RBI) decision to allow banks to  participate in commodity derivatives last week, both private and public sector banks have started feasibility study of the business and are also exploring taking membership on commodity exchanges. Executives from private and public sector banks have held several rounds of talks with officials of leading commodity exchanges to […]

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Will banks continue to shun Adani’s Carmichael coal project in Australia?

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Ahmedabad-based Adani group might need to dig deep in India as banks are wary of funding the group’s coal project in Australia. The risk to fund a project that has witnessed huge opposition will add to the reputational impact of the banks, analysts argue. Adani Group announced final approval for the huge Carmichael development on […]

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Indian farm loan waivers are a risk to fiscal consolidation, says Fitch

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The farm loan-waiver schemes being discussed and rolled out across an increasing number of Indian states could have a significant impact on state government finances, and might undermine efforts to bring down general government debt, Fitch Ratings warned in a note. “The impact on India’s debt dynamics and capital spending will depend on the total […]

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US Fed wants aggressive limit on commodity holdings by banks

Under a proposed rule released last week by the U.S. Federal Reserve, American banks will need to put up much more capital to support investments in physical commodities, restrict involvement with power plants and limit the amount of trading banks can do. “Goldman Sachs Group Inc.’s and Morgan Stanley’s sometimes lucrative romance with metals, coal and oil […]

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