Friday, April 9, 2021

Business Current Affairs Highlights January 2021

 Presenting Business Current Affairs Highlights January 2021

  1. The Asian Development Bank (ADB) and the government of India have signed a $10 million project readiness financing (PRF). 
  2. This agreement aims to help finance piloting activities, and design and capacity building for an ensuing project that aims to expand horticulture production and farm household income in the hill state of Himachal Pradesh. 
  3. The Asian Development Bank (ADB) has signed a $231 million loans with the Government of India to augment electricity generation capacity in the state of Assam. This is the third tranche loan for the ‗Assam Power Sector Investment Programme‘ that was approved by the ADB Board in July 2014. 
  4. Indian multinational two-wheeler and three-wheeler manufacturing company, Bajaj Auto has become the most valuable two-wheeler company in the world, after it crossed a market capitalization of more than Rs. 1 lakh crore, on January 01, 2021. 
  5. The Asian Development Bank (ADB) will provide a USD 100 million (around Rs 730 crore) loan to modernize and upgrade the power distribution system in Bengaluru city. Besides the USD 100 million sovereign loans, ADB will provide a USD 90 million loan without sovereign guarantee for the project to Bangalore Electricity Supply Company Ltd (BESCOM), one of the five state-owned distribution utilities in Karnataka. 
  6. The World Bank has signed a $105 million project with the Government of India and the Government of West Bengal to improve the inland water transport infrastructure in Kolkata, West Bengal. 
  7. The $105 million loans from the International Bank for Reconstruction and Development (IBRD), has a maturity of 17 years, including a grace period of 7 years.
  8. Global financial services major HSBC has inaugurated it‟s International Banking Unit (IBU) branch at GIFT City near Gandhinagar city in Gujarat. HSBC is one of the earliest global financial institutions setting up a branch at India‟s GIFT City and was the first bank to get a license from the newly set up International Financial Services Centres Authority (IFSCA). HSBC‟s IBU branch at Gujarat International Finance Tec-City (GIFT City) will be operational for customer transactions with effect from January 27. 
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