SBI drafted in-principle agreement with Adani in 2014 for $1bn facility & brought in several banks for funding as part of consortium. The plan has had several iterations since then.
Adani will lose around $220 million a year if the Carmichael coal project goes through. Which raises the question, why is everyone adamant that it goes ahead?
Canada faces serious foreign interference issues, but these challenges must not be weaponized to unfairly target friendly and important allies like India.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Among 19 Indian firms sanctioned by US Treasury Dept was Lokesh Machines Ltd accused of coordinating with 'Russian defence procurement agent to import Italy-origin CNC machines'.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
Reasons could be:
1. DUE DELEGENCE and proper evaluation of the risks considering the local resistance from climate activists.
2. WAITING FOR THE RIGHT KICK BACK
3. NO CALL FROM PMO.
In-principle sanction has no significance. Such sanctions are issued regularly to many applicants. For Housing Loan applicants such in-principle sanction are issued online. But final sanction is made after verifying all the details. SBI is right being cautious while giving final sanction to the proposed loan of USD 1 billion. Considering all the adverse features mentioned in the article, SBI should have courage to reject the application outright.
Reasons could be:
1. DUE DELEGENCE and proper evaluation of the risks considering the local resistance from climate activists.
2. WAITING FOR THE RIGHT KICK BACK
3. NO CALL FROM PMO.
In-principle sanction has no significance. Such sanctions are issued regularly to many applicants. For Housing Loan applicants such in-principle sanction are issued online. But final sanction is made after verifying all the details. SBI is right being cautious while giving final sanction to the proposed loan of USD 1 billion. Considering all the adverse features mentioned in the article, SBI should have courage to reject the application outright.