Category: Banking

Cabinet approves MoU on blockchain by Exim Bank

The Cabinet approved an agreement on collaborative research on distributed ledger and blockchain in context of the development of digital economy by Exim Bank with the participating member banks under BRICS Interbank Cooperation Mechanism. The ex-post facto approval for the Memorandum of Understanding (MoU) was given by the Cabinet chaired Prime Minister Narendra Modi. Distributed

Prime Minister Narendra Modi launches India Post Payments Bank

Prime Minister Narendra Modi launched a payments bank of the Department of Posts that will take banking to the doorstep of every citizen through an unmatched network of post offices and almost 3 lakh postmen and ‘Grameen Dak Sewaks’. The India Post Payments Bank (IPPB) will be like any other banks but its operations will

ADB to lend $375 million for irrigation projects in MP

India signed a $375 million loan agreement with the Asian Development Bank (ADB) for expanding irrigation networks and system efficiency in Madhya Pradesh. The project will support the efforts of government of Madhya Pradesh for irrigation expansion and modernisation plan by maximising irrigation efficiency and water productivity.  Madhya Pradesh Irrigation Efficiency Improvement Project will develop