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Search resuls for: "Nikunj Rajesh Ohri Shivangi Acharya"


2 mentions found


☆ India rupee settlement mechanism draws interest from more nations
  + stars: | 2022-12-16 | by ( Nikunj Rajesh Ohri Shivangi Acharya | Nikunj Rajesh Ohri | Shivangi Acharya | ) www.reuters.com   time to read: +2 min
Dec 16 (Reuters) - India's rupee trade settlement mechanism, a means of using rupees instead of dollars and other big currencies for international transactions, is attracting interest from more countries. The four countries have shown interest in opening special rupee accounts, called vostro accounts, but partner banks in India have not yet provided those facilities, documents showed. Mauritius and Sri Lanka have also shown interest, and have seen their special vostro accounts approved by the RBI, documents showed. Details of potential rupee-dirham trade mechanism are being firmed up by the central banks of India and UAE, a second government official said, requesting anonymity. Talks with Saudi Arabia on a rupee-riyal trade mechanism also continue, the government official added.
☆ India's first green bonds to fund new climate finance projects
  + stars: | 2022-11-09 | by ( Nikunj Rajesh Ohri Shivangi Acharya | Nikunj Rajesh Ohri | Shivangi Acharya | ) www.reuters.com   time to read: +2 min
[1/2] Indian Finance Minister Nirmala Sitharaman speaks during a side event on the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, Bali, Indonesia, 14 July 2022. The proceeds from green bonds will not be used to fund hydropower plants larger than 25 MW, nuclear projects and any biomass-based power generation with biomass originating from protected areas, the government said in the green bond framework released on Wednesday. A green finance working committee headed by the Chief Economic Adviser V Anantha Nageswaran will select public sector projects for green financing from those submitted by government departments. The committee will annually identify fresh projects to be funded through green bonds. The Indian government had sought assistance for its green bond framework from the World Bank and CICERO Shades of Green, a Danish firm that helps with environment assessments on green bond frameworks.
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