Fri, Mar 31, 2017 | updated 04:12 AM IST

India State of the Market Report on Green Bonds launched in Delhi

Updated: Oct 27, 2016 15:31 IST

New Delhi [India], Oct 27 (ANI): The Capital witnessed the launch of the India State of the Market Report on Green Bonds today showing that India now ranks seventh internationally for total labeled green bond issuance and is a global leader in external certification of green bonds.

The report was also launched in Mumbai on Monday coinciding with the first meeting of the newly formed Indian Green Bonds Market Development Council.

The council is composed of a cross-section of senior representation from banking, finance, insurance, investment banks, stock exchanges and public and private sector companies.

A joint initiative of the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Climate Bonds Initiative the aim of the Council is to bring together a critical mass of senior representatives drawn from the public and private sector to propose solutions towards the development of a green bonds market in India.

The Council will draft a National Blueprint and provide ongoing guidance to government on green finance directions and green bond market development.

"A couple of years ago issuers weren't sure whether to label their bonds as green. Today, issuers see the potential of green bonds, and see certification as a 'must-have," said Head Capital Markets FIG, South Asia, Standard Chartered, Gaurav Bhagat.

"ExIm Bank of India's business model is significantly dollarized and we raise long duration USD funds from the market. Apart from the bond market, we are happy to engage in long duration swaps whereby we take on the USD leg of other Indian issuers in return for competitively priced Rupees (we are AAA rated domestically), thus effectively serving as an FX hedging facility for Indian issuers for up to 20 years," said Deputy Managing Director ExIm Bank of India, David Rasquinha.

"We are in touch with most of corporate issuers in the country and they are now primarily focused on the benefits green bonds bring to their bottom line, rather than the costs," said Senior Vice President and Group Head of Debt Capital Markets SBI Capital Markets Limited, Asish Sable.

"The formation of this Market Development Council is a positive step forward in developing the green finance sources and investment pipelines India needs to meet its national infrastructure and climate mitigation goals. Bringing together major participants is a crucial step in the right direction," added Sean Kidney, CEO, Climate Bonds Initiative. (ANI)

New Delhi [India], Mar 30 (ANI): The Reserve Bank of India (RBI) on Thursday advised the users of Pre-paid Payment Instruments (PPIs), including mobile and electronic wallets that only non-bank entities authorised by RBI under the Payment and Settlement Systems Act, 2007 (the Act) can issue PPI wallets for purchase of goods and services from third parties and money transfer within India.

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New Delhi [India], Mar 30 (ANI-BusinessWireIndia): Axis Bank, India's third largest private sector bank, has announced a strategic partnership with Wells Fargo and Company to offer seamless remittance facility to their NRI customers from The United States of America (USA). USA is one of the key corridors to receive remittances to India, which contributes to more than 30 percent of total remittance volume to India.

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New Delhi [India], Mar 30 (ANI): Adding special value and innovation to their existing product line up, India Yamaha Motor Pvt. Ltd. has announced the new variants of its range of motorcycles and scooters.

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New Delhi [India], Mar 30 (ANI): Carpet Export Promotion Council organized the 33rd Edition of India Carpet Expo from 27th to 30th March 2017 at Hall nos. 11, 12 and 12A Pragati Maidan, New Delhi, with an aim to promote the Cultural Heritage and showcase the weaving skills of Indian hand-knotted carpet artisans amongst the overseas hand-knotted carpet buyers.

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Tata launches Tigor, new sub four metre sedan

Updated: Mar 30, 2017 17:31 IST

New Delhi [India], Mar.30 (ANI): Tata Motors hase come out with an all new sub four metre sedan, Tigor, targeted at a younger car buyer.

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New Delhi [India], Mar 30 (ANI): Credit rating agency ICRA expects cement demand growth, which has been significantly impacted post demonetisation, to recover to around four to five percent during FY2018, driven by a pick-up in the infrastructure segment, mostly road and irrigation projects and the housing segment.

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New Delhi [India], Mar 30 (ANI): Honda Motorcycle and Scooter India on Thursday announced the launch of new 2017 edition of its youthful moto-scooter DIO with new style, colors, convenience and BS-IV and AHO compliance at Rs. 49,132 (Ex-showroom, Delhi).

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New Delhi [India], Mar 30 (ANI): India's most popular mobile app for transportation Ola BookMyShow, India's largest online entertainment ticketing platform on Thursday announced their exclusive partnership to enhance the entertainment experience of millions of users.

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New Delhi [India], Mar. 30 (ANI): Leading Solar EPC player Vikram Solar Pvt. Ltd. signed a Memorandum of Understanding (MoU) with Israel's Water-Gen, a pioneer in air-to-water technology, to develop and introduce their path-breaking clean, hygienic drinking water solutions in the country.

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New Delhi [India], Mar 30 (ANI): Continuing with the new label launch spree in the month of March, India's leading fashion e-tailer, Jabong has announced the addition of yet another leading American high-street fashion wear brand, Aeropostale, to its product portfolio.

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New Delhi [India], Mar 30 (ANI): The Goods and Services Tax (GST) has received unprecedented support from all quarters as it is a simple system of taxation, under which various taxation rates will be merged into one with no cascading effect of taxation, said Revenue Secretary Hasmukh Adhia on Thursday.

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New Delhi [India], Mar. 30 (ANI): Contrary to its previous announcement that was circulated with regards to banks being operational on April 1, the Reserve Bank of India (RBI) in a revised circular stated that all payment systems will be closed on the aforementioned date.

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New Delhi [India], Mar 30 (ANI): London Stock Exchange today welcomes the world's largest corporate Masala bond. The landmark bond issuance from Housing Development Finance Corp (HDFC), one of India's leading banking and financial services companies comes less than 12 months after HDFC's INR 30 billion (USD 450 million) debt issuance in London, the first ever Indian corporate to list a Masala bond.

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New Delhi [India], Mar 30 (ANI-BusinessWireIndia): Grameen Koota Financial Services Private Limited (Grameen Koota) has raised Rs. 250 crore from its holding company, CreditAccess Asia (CAA), headquartered in Amsterdam, which is the leading multi-country Microfinance operator in India and South-East Asia. Part of the infusion, Rs.50 crore, will be provided in the form of equity and the remainder, Rs.200 crore will be provided in the form of Compulsory Convertible Debentures (CCDs).

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New Delhi [India], Mar. 30 (ANI): SBI Card, one of India's leading credit card issuers announced the launch of a credit card, 'SBI Card Unnati', targeted at all State Bank of India (SBI) customers, including Jan Dhan account holders, throughout the country.

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New Delhi [India], Mar. 30 (ANI): Metropolitan Stock Exchange of India Limited (MSEI), the third national level stock exchange is all set to conduct a mock trading session in equity, equity derivatives and currency derivatives segments on April 1, 2017.

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New Delhi [India], Mar 29 (ANI): Cloudatix Biz India Ventures Pvt. Ltd, a young research startup emerging as a Smart City Solutions provider and Mediaguru, a global media services company that specializes in the entire life cycle of digital asset management services, digitization and monetization, recently launched 'Startup Accelerator Program and Internet College'.

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Dong Nai [Vietnam]/Tokyo[Japan], Mar.29 (ANI): Vietnam is experiencing a rapid economic growth as customers' purchasing abilities have increased that leads to opening up of supermarkets.

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Rajya Sabha passes Finance Bill

Updated: Mar 29, 2017 17:58 IST

New Delhi [India], Mar 29 (ANI): The Rajya Sabha on Wednesday passed the Finance Bill after various amendments presented by Union Finance Minister Arun Jaitley.

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New Delhi [India], Mar 29 (ANI): G-20 Framework Working Group (FWG) in its third meeting at Varanasi held discussions over the state of the global economy as well asG-20 agenda on inclusive growth and reports on strong, sustainable and balanced growth and G-20 enhanced structural reform agenda among others.

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