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REC Ltd secures Japanese green loan of Rs 3,200 crore

REC Limited, a Maharatna Central Public Sector Enterprise and leading NBFC under the Ministry of Power, secured a significant Green Loan of Japanese Yen (JPY) 6... REC Limited, a Maharatna Central Public Sector Enterprise and leading NBFC under the Ministry of Power, secured a significant Green Loan of Japanese Yen (JPY) 60.536 billion (Rs. 3,200 crore). This loan, backed by an 80% guarantee from SACE, Italy's Export Credit Agency, marks a pioneering collaboration between Indian and Italian entities in sustainable financing. Participating banks from Asia, the USA, and Europe highlight the global interest in this initiative, emphasizing REC's commitment to stringent environmental standards and renewable energy projects. REC's Chairperson anticipates further collaborations, showcasing the growing Indo-Italian partnership in green energy financing.

Indians Now Allowed to Hedge Gold Price Risks in Global Markets

The Reserve Bank of India (RBI) has allowed Indian residents to hedge their gold price risk on recognised exchanges in the International Financial Services Cent... The Reserve Bank of India (RBI) has allowed Indian residents to hedge their gold price risk on recognised exchanges in the International Financial Services Centre (IFSC). This decision, announced during the Monetary Policy Committee (MPC) meeting by Governor Shaktikanta Das, aims to minimize potential losses due to fluctuations in gold prices. Gold hedging strategies such as forward contracts, options, and futures contracts can now be used by residents to protect against adverse price movements in global markets. This approval is expected to benefit the gold import-export industry by enabling businesses to manage their exposure to gold prices more effectively.

Government to Establish Cotton Test Labs in 6 States for Kasturi Cotton

The central government plans to establish dedicated testing labs for high-grade Kasturi cotton in six states, aiming to promote the Indian cotton brand globally... The central government plans to establish dedicated testing labs for high-grade Kasturi cotton in six states, aiming to promote the Indian cotton brand globally. These labs will enhance quality standards and global acceptance of Indian textiles, aligning with national quality standards set by the Bureau of Indian Standards (BIS). The objective is to position Kasturi cotton as a competitive global brand by ensuring premium quality, strict standards, and NABL accreditation for testing reports. Additionally, the government focuses on strengthening India's textiles ecosystem through initiatives like skill development, infrastructure improvement, and investment promotion, targeting significant investment and job creation in the textiles industry.

Current Affairs

REC Ltd secures Japanese green loan of Rs 3,200 crore

Indians Now Allowed to Hedge Gold Price Risks in Global Markets

Government to Establish Cotton Test Labs in 6 States for Kasturi Cotton

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