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The National Bank for Agriculture and Rural Development (Nabard) is looking to raise its maiden external commercial borrowing in FY26, a top official said on Tuesday. The entity has received the Reserve Bank approval to undertake such an issuance and is now gearing up for it, its chairman Shaji KV told reporters here. "We have the permission in place and have started work on it," Shaji said, speaking on the sidelines of the annual Fibac event here. The bank is keen to undertake the issuance in FY26 itself, Shaji said, choosing not to point out to an exact timeline or quantum to be raised. Proceeds of the issue will be deployed for climate change-related financing activities for which funds are available at a discount, he said, adding that nearly the entire rural portfolio of the lender will qualify under the category. Stating that it is yet to appoint merchant bankers to undertake the fundraise, he said the final costs of borrowing will play an important role in determining the fi
Inflation in the 20 countries that use the euro fell to 1.9% in May from 2.2% in April, clearing the way for more rate cuts from the European Central Bank to support growth in the face of US President Donald Trump's tariff offensive. Lower energy prices helped bring consumer prices in May to below the ECB's 2% target for the first time since September. Increasing signs that inflation is back under control after a painful outbreak in 2021-23 leaves room for the ECB to turn its attention to worries about the impact of a slew of new import taxes on EU goods in the US that threaten to slow Europe's export-oriented economy. Reductions in the ECB's benchmark rate, currently at 2.25%, lower borrowing costs throughout the economy, making it easier to buy things on credit and stimulating economic activity and investment. Higher rates combat inflation, but for the moment that battle appears to have been won. The ECB's rate-setting council meets on Thursday under bank President Christine Lagar
Truhome Finance, formerly Shriram Housing Finance, on Friday said it has raised USD 100 million (about Rs 870 crore) through maiden syndicated External Commercial Borrowing (ECB) to fund affordable housing. The company has secured this funding through a social loan facility from DBS Bank and Sumitomo Mitsui Banking Corporation (SMBC) as mandate lead Arranger and book-runner and joint social loan coordinators in this syndication, Truhome Finance said in a statement. Structured as a social loan, this facility underscores Truhome's commitment to financial inclusion and sustainable housing finance, it added. The fund will be utilised to expand Truhome's lending portfolio, specifically catering to semi-urban and affordable housing segments, ensuring that underserved borrowers have access to home ownership opportunities, it said. This transaction not only reinforces Truhome's strong credit profile and prudent risk management practices but also sets a new benchmark for global funding in t