Cooper Financial News

NTPC on Tuesday said it has inked a pact with a Japanese agency for sourcing foreign currency loans of USD 200 million (JPY 30 billion or around Rs 1,650 crore)… Japan Bank for International Cooperation (JBIC), a government policy-based financial institution, will provide 60 per cent of the facility amount and the balance amount will be provided by other commercial banks under JBIC guarantee, a statement said. The agreements have been signed for a JPY 15 billion loan each for NTPC Ltd and NTPC Renewables Energy Ltd (NREL), it added. The facility has been extended under JBIC's initiative entitled 'Global action for Reconciling Economic growth and Environment preservation' («GREEN») for projects which ensure the conservation of the global environment…

BJP candidate in Kerala's Alathur Lok Sabha constituency, Prof T N Sarasu, on Tuesday and assured her that strict action would be taken against those involved in alleged irregularities in cooperative banks in the state. Party leaders said Modi, who called Professor Sarasu, inquired about her campaign progress in the Alathur seat. The seat is reserved for the Scheduled Castes, and the candidature of Sarasu, a retired college principal, was announced on Sunday. During her conversation with the prime minister over the phone, Sarasu raised the issue of irregularities reported from certain cooperative banks in Kerala and sought his intervention to punish the guilty.

Janalaxmi Cooperative Bank for non-compliance with regulations. The Reserve Bank found out that the bank had failed to constitute a board of management within the extended timeline granted by RBI, sanctioned credit facilities to its nominal members in excess of the prescribed limit, and, opened/renewed term deposits at interest rates higher than those offered by the State Bank of India for the same tenor. The bank was served with a show cause notice, after which the penalty was imposed in exercise of powers under the sections of the Banking Regulation Act, an official statement said. The central bank also imposed a penalty of Rs 28.30 lakh on Solapur Janata Sahakari Bank for appointing a member on its board of management who did not satisfy the 'fit and proper' criteria and failure to reconstitute the panel within the specified time and contravention of Supervisory Action Framework by the lender by sanctioning fresh loans carrying risk weights of more than 100 per cent in FY22.

mandi prices in view of extension of onion export ban, the government on Tuesday assured farmers that it will start procurement of 5 lakh tonnes of rabi onion in next 2-3 days to protect their interest. Last week, the commerce ministry extended the ban on onion export till further orders. The ban on onion shipment was valid till March 31. «We want to assure farmers that their concern will be taken care of. ...We will begin procurement of 5 lakh tonne of rabi (winter) crop in the next 2-3 days for maintaining a buffer stock,» Consumer Affairs Secretary Rohit Kumar Singh told reporters. The onion export ban is affecting traders and not farmers as average mandi (wholesale) prices are ruling currently at around Rs 13-15/kg in Maharasthra, which is almost double from the previous year level, he said.

Spicejet Share Price Today: Shares of SpiceJet climbed over seven per cent earlier today after the low-cost budget carrier settled its ₹755-crore deal with Export Development Canada (EDC) to clear major liabilities. The deal will lead to a comprehensive revitalization of its balance sheet, said SpiceJet in its statement. This settlement is being termed as the biggest breakthrough in the airline's financial restructuring efforts till date.

Messaging cooperative Swift has set itself the task of ensuring interoperability between digital currencies and tokenised assets to overcome the potential risk of fragmentation, caused by the use of different technologies and with different standards and protocols. Last year it carried out sandbox testing that showed its connector technology could enable cross-border transfers and connect CBDCs on different networks with each other, as well as with fiat currencies.

Amul parent Gujarat Cooperative Milk Marketing Federation (GCMMF) Monday announced the launch of its four variants of milk in the US market within a week, to cater to the Indian diaspora and Asian population in the country, news agency PTI reported. This will be the first time that the GCMMF will be exporting fresh milk outside the country. GCMMF MD Jayen Mehta told PTI, "We have been exporting dairy products for many decades.

ANI. “BJP's culture is one of cooperating with one another. Believing in the same, I will walk with them and we will win...We will have a big campaign," she added.

US military plans to bolster functions of its command headquarters in Japan, as it aims for smoother cooperation with the Asian country's self-defence forces in tackling security threats posed by China and North Korea according to diplomatic sources cited by Kyodo news agency. Japan and the United States will also work on further steps to enhance their response capabilities, Kyodo reported. Tokyo had in 2022 decided to acquire the capability to strike enemy bases even under Japan's war-renouncing Constitution. Also, Japan is set to establish a joint headquarters to command its ground, maritime and air forces by the end of March 2025 with Kishida's government is aiming to deepen cooperation between the US military and the joint headquarters.

trade agreements (FTAs) with the UK and Oman are expected to figure in the commerce ministry's 100-day agenda roadmap for the new government, an official said. The ministry will also focus on issues pertaining to the exporting community with a view to promoting the country's outbound shipments. Further talks between India and Australia to expand the scope of existing economic cooperation and trade agreement (ECTA) for a comprehensive economic cooperation agreement (CECA) are also progressing at a healthy rate. The exercise assumes significance as while chairing a Cabinet meeting on March 17, Prime Minister Narendra Modi asked the ministers to meet secretaries and other officials of their respective ministries to discuss how the agenda for the first 100 days and the next five years can be better implemented.

China pledged on Monday to treat foreign companies the same way as domestic peers in a bid to attract more foreign investment, cooperation and expertise, as Asia's largest economy moves to upgrade and strengthen its industrial chains. «China will fully guarantee national treatment for foreign companies, so that more foreign companies can invest in China with confidence and peace of mind,» Vice Commerce Minister Guo Tingting said at the China Development Forum in Beijing. Guo did not give details about how China would guarantee «national treatment», or the equal treatment of locals and foreigners as per World Trade Organization (WTO) principles.

Mohamed Muizzu to engage in dialogue with neighbouring countries to tackle the nation's financial challenges, PTI reported. Solih's remarks come in response to recent calls from President Muizzu, known for his pro-China stance, urging India to provide debt relief to the Maldives. Speaking at an event in Male', Solih emphasised the importance of dialogue and cooperation in overcoming the economic hurdles facing the nation.

Packaged food and beverage companies are stepping up supplies on the ground ahead of the coming general election, as large rallies and outdoor gatherings raise demand for low-priced biscuits, snacks and beverages. The Election Commission of India (ECI) announced dates for the 2024 Lok Sabha election on 16 March. Voting will start on 19 April, and go on till 1 June, across seven phases.

UK and Oman are expected to figure in the commerce ministry's 100-day agenda roadmap for the new government, an official said. The ministry will also focus on issues pertaining to the exporting community with a view to promoting the country's outbound shipments. Further talks between India and Australia to expand the scope of existing economic cooperation and trade agreement (ECTA) for a comprehensive economic cooperation agreement (CECA) are also progressing at a healthy rate. The exercise assumes significance as while chairing a Cabinet meeting on March 17, Prime Minister Narendra Modi asked the ministers to meet secretaries and other officials of their respective ministries to discuss how the agenda for the first 100 days and the next five years can be better implemented.

By David Shepardson

India-Bhutan relations will keep growing and benefit our citizens." PM Modi became the first foreign dignitary to receive the honor. As per ranking and precedence established, the Order of the Druk Gyalpo was instituted as the decoration for lifetime achievement and is the pinnacle of the honor system in Bhutan. Previous recipients of the award include Royal Queen Grandmother Ashi Kesang Choden Wangchuck in 2008; Je Thrizur Tenzin Dendup (68th Je Khenpo of Bhutan) in 2008 and Je Khenpo Trulku Ngawang Jigme Choedra in 2018.

Maldives President Mohamed Muizzu has extended an olive branch, asserting India's crucial role as the Maldives' "closest ally", PTI reported. In a recent interview with local media, Muizzu emphasised the need for continued support from India, particularly in addressing the Maldives' debt burden. "India will continue to remain the Maldives’ closest ally, there is no question about it," he told local Dhivehi language publication 'Mihaaru' in an interview — his first one since assuming office last November.

Bihar Class 12 board exams can their results on the official website of BSESB — biharboardonline.bihar.gov.in and results.biharboardonline.com. - The Central Committee of CPI (Maoist) will celebrate March 23 as an ‘anti-imperialism’ day with enthusiasm and revolutionary spirit. The committee has called upon all Dalits, women's organizations, democratic forces, and peasantries to participate in the celebration.

U.S. investigators say an American Airlines jetliner suffered an “anomaly” in the braking system before running past the end of a runway in Texas last month

Three antitrust lawsuits filed by food businesses in federal court in Minnesota this week accuse some of the largest U.S. sugar-producing companies of conspiring to fix prices

By Amanda Cooper