International finance Current Affairs, GK & News

Nirvik: New Export Credit Insurance Scheme

The Ministry of Commerce & Industries through the Export Credit Guarantee Corporation (ECGC) has launched a new Export Credit Insurance Scheme (ECIS) called NIRVIK to enhance loan availability and ease the lending process. What is Export Credit Insurance? Export credit insurance (ECI) protects an exporter of products and services against the risk of non-payment by ..

Category: Government Schemes Current Affairs

Topics: Credit • Economy • Export credit agencies • Export Credit Guarantee Corporation of India • Finance • Foreign trade of India • International finance • International Trade • Ministry of Commerce and Industry • Money • Repurchase agreement • Trade credit insurance

Reliance Industries receives India’s first Letter of Credit (LC) payment via blockchain

HSBC Holdings Plc has executed India’s first trade financial transaction using blockchain for a deal involving an export by Reliance Industries Ltd (RIL) to US-based Tricon Energy. The blockchain-enabled letter of credit (LC) reduces transaction timeline from 7-10 days to less than a day. The Letter of Credit (LC) was issued by ING Bank for ..

Topics: Bill of Lading • Blockchains • cryptocurrencies • Economy • Ethereum • HSBC France • International finance • Letter of credit • Money • Payment systems • Reliance Industries Limited

Masala Bonds

Masala bonds are rupee denominated overseas bonds. Here are key notable points about Masala Bonds. Such bonds are Rupee denominated. When an Indian company issues Rupee denominated Bond, it is obviously shielded against the risk of currency exchange rate aberrations. The foreign exchange risk is on foreign investors rather. The key advantages of Masala Bonds are ..

Topics: Bond • Currency • Economy • Indian rupee • International finance • Masala bonds • Pakistani rupee • Renminbi • Rupee

FIIs pull out $2 billion hot money from India in 2016

India is headed towards losing its safe haven status among foreign portfolio investors after a nearly USD 2-billion pullout of so-called ‘hot money’ 2016. This has made it the last period in the last 8 years in case of foreign investments. The debt instruments have taken the major setback after they had been the most ..

Topics: Economy • Financial markets • Foreign direct investment • Hot money • International finance • World economy

Akodara: India’s first Digital Village

Akodara, a small village in Sabarkantha district of Gujarat has earned the distinction of becoming the country’s first digital village. The village with a small community of 1200 people has gone completely cashless. The village was adopted and developed by the ICICI foundation as a digitised village. All transactions in the village be it a ..

Topics: Akodara • Cashless society • Debit card • E-commerce • Economy • Financial services • ICICI Bank • International finance • Money • Payment systems