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Tag: Govt

Govt to infuse Rs 1,300 cr in Exim Bank next fiscal

Govt to infuse Rs 1,300 cr in Exim Bank next fiscal

Finance
The government has decided to pump Rs 1,300 crore into state-owned Export-Import Bank of India (Exim Bank) to fund its business growth. Last year, the government doubled its authorised capital from Rs 10,000 crore to Rs 20,000 crore. "The (Rs 1,300 crore) provision is for Exim Bank as equity support/ subscription to increase the paid up capital of the bank to the level of its authorized capital," as per the Budget documents presented in Parliament earlier this month. This is Rs 350 crore higher than provision made by the government for the current fiscal. The government earmarked Rs 950 crore capital infusion for the bank. Exim Bank is the principal export credit agency in India and the infusion will give an impetus to new initiatives such as supporting Indian textile industries, likely ch...
Sudanese gov’t reaches settlement deal with USS Cole victims

Sudanese gov’t reaches settlement deal with USS Cole victims

World
Sudan's transitional government says it's reached a settlement with families of the victims of the 2000 attack on USS Cole in Yemen, in a bid to have the African country taken off the U.S. terrorism listBy NOHA ELHENNAWY Associated PressFebruary 13, 2020, 10:12 AM4 min readCAIRO -- Sudan's transitional government said Thursday it has reached a settlement with families of the victims of the 2000 attack on USS Cole in Yemen, in a bid to have the African country taken off the U.S. terrorism list and improve relations with the West. At the time of the Oct. 12, 2000 attack in the Yemeni port of Aden that killed 17 sailors and wounded more than three dozen others, Sudan was accused of providing support to al-Qaida, which claimed responsibility for the attack. Today, Sudan's interim authorities...

Egypt arrests human rights activist who criticized gov’t

World
Egyptian police have arrested an activist and researcher who has been a vocal critic of President Abdel-Fattah el-Sissi's governmentBy SAMY MAGDY Associated PressFebruary 9, 2020, 8:40 PM3 min readCAIRO -- Egyptian police arrested an activist and researcher who was a vocal critic of President Abdel-Fattah el-Sissi's government, the interior ministry and a human rights group said Sunday. Patrick George Zaki, 27, was detained at Cairo's international airport after returning from Italy on Friday, according to the Egyptian Initiative for Personal Rights, a local NGO, where he works as a researcher. He was taken to the prosecutor's office in his home city of Mansoura in the Nile Delta. Zaki's arrest was the latest in an unprecedented crackdown on dissent waged by El-Sissi in recent years. Thou...
Russia’s PM and govt resign as Putin plans constitution overhaul

Russia’s PM and govt resign as Putin plans constitution overhaul

World
Russia's government has resigned to allow President Vladimir Putin to make sweeping constitutional changes which could allow him to remain in power after his current term.The 67-year-old has been in the top job for 20 years, longer than any other Russian or Soviet leader since Josef Stalin. Prime Minister Dmitry Medvedev quit hours after Mr Putin proposed a reform of powers of parliament and the cabinet. Image: Vladimir Putin said Dmitry Medvedev (R) would take up a new position as a deputy head of the presidential Security Council Mr Putin thanked his close ally for his contribution and asked his cabinet to keep working until a new one is formed.The president also said he would appoint Mr Medvedev - who had been PM since 2012 - as de...
Gross NPAs of SCBs decline by 98K cr by June: Govt

Gross NPAs of SCBs decline by 98K cr by June: Govt

Finance
NEW DELHI: The gross non-performing assets (NPAs) of scheduled commercial banks (SCBs) have declined by nearly Rs 98,000 crore to Rs 9.38 lakh crore by June-end this year, Minister of State for Finance Anurag Thakur informed the Lok Sabha on Monday. Gross NPAs of SCBs, which stood at Rs 10,36,187 crore on March 31, 2018, declined by Rs 97, 996 crore to Rs 9,38,191 crore as on June 30, 2019, Thakur said in a written reply during question hour in Lok Sabha. The minister was responding to Congress MP Deepak Baij's query on the amount of NPAs of various banks written off in the country during the last five years and its impact on the economy. The gross NPAs stood at Rs 3,23,464 crore as on March 31, 2015 and increased to over Rs 10.36 lakh crore figure by the end of 2017-18 fiscal on March 31,...