Under these insurance policies, ICIEC will provide insurance cover for eligible trade finance transactions extended by NBB to entities located in ICIEC Member States and support the confirmation of letters of credit issued by banks in ICIEC Member States, helping facilitate cross-border trade while mitigating payment risks.

The partnership underscores ICIEC and NBB’s shared commitment to expanding trade finance, strengthening cross-border trade flows, and deepening economic cooperation among Member States. Through the provision of risk mitigation solutions, the agreement enhances confidence in international trade transactions, supports increased private sector engagement, and facilitates the efficient movement of essential goods and services across strategic markets.

Commenting on the agreement, Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC, said: “Resilient trade ecosystems require strong financial institutions, trusted partnerships, and effective risk mitigation. These insurance policies with the National Bank of Bahrain bring these elements together, enabling greater confidence in cross-border transactions and expanding trade opportunities across ICIEC Member States. We are pleased to join forces with NBB in supporting businesses and facilitating the flow of trade that contributes to sustainable economic development.”

The post ICIEC and the National Bank of Bahrain Collaborate on Trade Finance Insurance to Enhance Member State Trade appeared first on NRI News.

MUMBAI: AU Small Finance Bank (AU SFB), India’s largest Small Finance Bank and the first institution in over a decade to receive in-principle approval from the Reserve Bank of India to transition into a Universal Bank, has revised its deposit interest rates across Fixed Deposits (FDs), Recurring Deposits (RDs), and Foreign Currency Non-Resident [FCNR (B)] deposits, effective June 10, 2026.

Under the revised structure, customers can now earn up to 7.40% p.a. on FDs and RDs, while senior citizens can earn up to 7.90% p.a., making AU SFB’s offering among the more competitive and attractive savings avenues in the current rate cycle.

The revision comes at a time when savers across India are increasingly looking for stable, high-yield deposit options, while NRIs continue to seek secure and efficient avenues to manage savings across geographies.

The revised peak interest rates are as follows:

* Interest on FCNR (B) deposits is paid out semi-annually.

In parallel, the Bank has also enhanced its FCNR deposit rates, further strengthening its NRI banking proposition by offering attractive foreign currency deposit options alongside competitive domestic deposit rates. Together, the revised rates position AU SFB as a comprehensive savings partner catering to both resident Indians seeking higher returns and NRIs looking for efficient cross-border savings solutions.

The revised rates apply to both new and existing customers and are available across AU SFB’s 2,790+ touchpoints spanning 21 States and 4 Union Territories, as well as through its digital channels, including the AU 0101 app, WhatsApp Banking, and 24×7 video banking.

For detailed tenure-wise interest rates, customers may visit www.aubank.in

The post AU Small Finance Bank Raises Deposit Rates: Senior Citizens Can Now Earn Up to 7.90% appeared first on NRI News.

The forum was convened on the sidelines of the IsDB Group’s 2026 Annual Meetings, under the high patronage of His Excellency Ilham Aliyev, President of the Republic of Azerbaijan.

The forum highlighted IsDB Group’s activities and initiatives aimed at empowering both public and private sectors in member countries, particularly in the Republic of Azerbaijan.

The discussions focused on prevailing opportunities and challenges facing the business sector and highlighted the Group’s suite of financing instruments, including lines of financing, private sector financing, trade development support, investment insurance, and export credit facilities, among others.

The forum agenda featured a series of dialogue sessions addressing key economic themes and development projects. Participants also attended presentations on trade and investment opportunities. In addition, bilateral meetings between public and private sector institutions (B2B and B2G) facilitated networking, strategic partnerships, experience sharing, and the promotion of successful ventures.

In addition to the dialogue sessions, the forum hosted the Halal Economy Leadership Forum, which brought together policymakers, industry leaders, and experts to discuss emerging opportunities and challenges within the global halal economy. The event also featured the IsDB Group Startups Competition, providing an important platform for innovative entrepreneurs from member countries to showcase their solutions before investors, development institutions, and business leaders. The winners of the competition and the Private Sector Forum Awards were recognized during a dedicated awards ceremony honoring outstanding achievements in entrepreneurship, innovation, investment, trade, and private sector development.

The forum attracted high-level participation from Azerbaijan government officials, presidents and CEOs of local, regional, and international private sector companies, investors, businessmen, chambers of commerce and industry, trade and investment promotion bodies, and regional and international financial and development institutions.

In his speech, H.E. Mikayil Jabbarov, Minister of Economy of the Republic of Azerbaijan and Chairman of the Board of Governors of the Islamic Development Bank (IsDB), stated: “Azerbaijan highly values its partnership with the Islamic Development Bank Group and remains committed to deepening trade, business, and investment cooperation with member countries. Leveraging its strategic location at the crossroads of Europe and Asia, modern transport infrastructure, and ongoing economic diversification efforts, Azerbaijan serves as an important platform for regional connectivity and sustainable growth. By combining the country’s investment potential with the IsDB Group’s financial capabilities, global expertise, and extensive network, we can unlock new opportunities for impactful projects that advance economic development and deliver long-term benefits across the region.”

In his opening remarks, His Excellency Dr. Muhammad Al Jasser, Chairman of the Islamic Development Bank Group, welcomed all participants to the forum. He stated: “At the Islamic Development Bank Group, we firmly believe that the private sector is not a supporting actor in development — it is the lead actor. Our role is clear: to remove obstacles, reduce risks, and open doors. We will continue to stand as a committed partner—mobilizing finance, mitigating risk, and enabling trade and investment that drive inclusive, resilient, and sustainable growth”

During the CEO’s session, Dr. Khalid Yousif Khalafalla, CEO of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and Acting CEO of the Islamic Corporation for the Development of the Private Sector (ICD), stated: “The Private Sector Forum witnessed a distinguished cohort of partners from both public and private sectors. Sustainability and development constitute the core focus of our mission, as we strive to unify the efforts of our private sector partners and other financing agencies to bridge the sustainable financing gap, provide co-financing opportunities, and develop innovative solutions to address the challenges of sustainable development. In this context, from the ICD side, we are proud of our role in private sector development by providing effective financing solutions to financial institutions and large corporations, as well as facilitating access to suitable financing for small and medium enterprises. We also continue to finance infrastructure projects that enhance development impact, encourage cross-border investment, support member countries’ exports, and create new job opportunities. In fact, ICD has achieved approximately $7.1 billion in cumulative approvals. Last year, the total financing directed towards SMEs reached USD 661.9 million. ICD supported institutions collectively employed 178,988 staff members.”

He added, “Since its inception and up to the end of 2025, ICIEC has provided cumulative insurance cover exceeding USD 139 billion, including USD 108 billion in support of trade flows and more than USD 31 billion to facilitate foreign investment across its Member States. Of this, intra-OIC trade and investment accounted for more than USD 66 billion, reflecting ICIEC’s role in strengthening economic cooperation among Member Countries. In 2025 alone, ICIEC enabled USD 1.9 billion in Islamic trade and investment finance, supported more than 294,000 jobs, and reached around 6,000 SMEs. Through its Shariah-compliant credit and political risk insurance solutions, ICIEC continues to mobilize capital, reduce risk, and support sustainable development across strategic sectors.”

On his part, Eng. Adeeb Yousuf Al-Aama, CEO of the International Islamic Trade Finance Corporation (ITFC), stated: “The 14^th edition of the Private Sector Forum reaffirmed the vital role of the private sector in fostering economic growth, generating employment, and reducing poverty in member countries. The active participation of the business community greatly enriched discussions and strengthened collaborative efforts to promote economic resilience and business dynamism.”

He added: “Since its inception in 2008, ITFC has extended over US$96 billion in trade financing to OIC member countries, becoming the leading provider of trade solutions in the region. Of this, US$20 billion was allocated to support the private sector and SMEs – combining financial support, technical assistance, and capacity building efforts to help these enterprises access regional and international markets. In 2025 alone, ITFC approved US$9.3 billion in trade finance and disbursed US$7.5 billion across its member countries. Through its operations, the Corporation supported more than 120,000 jobs, provided access to finance for 546 corporates and SMEs, and facilitated US$7.8 billion in intra-OIC trade. These achievements reflect ITFC’s continued commitment to strengthening private sector competitiveness, enhancing trade connectivity, and fostering sustainable economic growth across OIC member countries.”

For more information, please visit the event website (www.isdbg-psf.org).

Organize 14^th Private Sector Forum in Baku, Azerbaijan (16-19 June 2026)

Baku, Azerbaijan, 17 June 2026 – The Islamic Development Bank (IsDB) Group’s affiliated institutions organized the 14^th Private Sector Forum (PSF) from June 16 to 19, 2026, at Baku Convention Center in Baku, the capital city of the Republic of Azerbaijan.

The forum was convened on the sidelines of the IsDB Group’s 2026 Annual Meetings, under the high patronage of His Excellency Ilham Aliyev, President of the Republic of Azerbaijan.

The forum highlighted IsDB Group’s activities and initiatives aimed at empowering both public and private sectors in member countries, particularly in the Republic of Azerbaijan.

The discussions focused on prevailing opportunities and challenges facing the business sector and highlighted the Group’s suite of financing instruments, including lines of financing, private sector financing, trade development support, investment insurance, and export credit facilities, among others.

The forum agenda featured a series of dialogue sessions addressing key economic themes and development projects. Participants also attended presentations on trade and investment opportunities. In addition, bilateral meetings between public and private sector institutions (B2B and B2G) facilitated networking, strategic partnerships, experience sharing, and the promotion of success ventures.

In addition to the dialogue sessions, the forum hosted the Halal Economy Leadership Forum, which brought together policymakers, industry leaders, and experts to discuss emerging opportunities and challenges within the global halal economy. The event also featured the IsDB Group Startups Competition, providing an important platform for innovative entrepreneurs from member countries to showcase their solutions before investors, development institutions, and business leaders. The winners of the competition and the Private Sector Forum Awards were recognized during a dedicated awards ceremony honoring outstanding achievements in entrepreneurship, innovation, investment, trade, and private sector development.

The forum attracted high-level participation from Azerbaijan government officials, presidents and CEOs of local, regional, and international private sector companies, investors, businessmen, chambers of commerce and industry, trade and investment promotion bodies, and regional and international financial and development institutions.

In his speech, H.E. Mikayil Jabbarov, Minister of Economy of the Republic of Azerbaijan and Chairman of the Board of Governors of the Islamic Development Bank (IsDB), stated: “Azerbaijan highly values its partnership with the Islamic Development Bank Group and remains committed to deepening trade, business, and investment cooperation with member countries. Leveraging its strategic location at the crossroads of Europe  and Asia, modern transport infrastructure, and ongoing economic diversification efforts, Azerbaijan serves as an important platform for regional connectivity and sustainable growth. By combining the country’s investment potential with the IsDB Group’s financial capabilities, global expertise, and extensive network, we can unlock new opportunities for impactful projects that advance economic development and deliver long-term benefits across the region.”

In his opening remarks, His Excellency Dr. Muhammad Al Jasser, Chairman of the Islamic Development Bank Group, welcomed all participants to the forum. He stated: “At the Islamic Development Bank Group, we firmly believe that the private sector is not a supporting actor in development — it is the lead actor. Our role is clear: to remove obstacles, reduce risks, and open doors. We will continue to stand as a committed partner—mobilizing finance, mitigating risk, and enabling trade and investment that drive inclusive, resilient, and sustainable growth”

During the CEOs session, Dr. Khalid Yousif Khalafalla, CEO of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and Acting CEO of the Islamic Corporation for the Development of the Private Sector (ICD), stated: “The Private Sector Forum witnessed a distinguished cohort of partners from both public and private sectors. Sustainability and development constitute the core focus of our mission, as we strive to unify the efforts of our private sector partners and other financing agencies to bridge the sustainable financing gap, provide co-financing opportunities, and develop innovative solutions to address the challenges of sustainable development. In this context, from ICD side, we are proud of our role in private sector development by providing effective financing solutions to financial institutions and large corporations, as well as facilitating access to suitable financing for small and medium enterprises. We also continue to finance infrastructure projects that enhance development impact, encourage cross-border investment, support member countries’ exports, and create new job opportunities. In fact, ICD has achieved approximately $7.1 billion in cumulative approvals. Last year, the total financing directed towards SMEs reached USD 661.9 million. ICD supported institutions collectively employed 178,988 staff members.”

He added, “Since its inception and up to the end of 2025, ICIEC has provided cumulative insurance cover exceeding USD 139 billion, including USD 108 billion in support of trade flows and more than USD 31 billion to facilitate foreign investment across its Member States. Of this, intra-OIC trade and investment accounted for more than USD 66 billion, reflecting ICIEC’s role in strengthening economic cooperation among Member Countries. In 2025 alone, ICIEC enabled USD 1.9 billion in Islamic trade and investment finance, supported more than 294,000 jobs, and reached around 6,000 SMEs. Through its Shariah-compliant credit and political risk insurance solutions, ICIEC continues to mobilize capital, reduce risk, and support sustainable development across strategic sectors.”

On his part, Eng. Adeeb Yousuf Al-Aama, CEO of the International Islamic Trade Finance Corporation (ITFC), stated: “The 14^th edition of the Private Sector Forum reaffirmed the vital role of the private sector in fostering economic growth, generating employment, and reducing poverty in member countries. The active participation of the business community greatly enriched discussions and strengthened collaborative efforts to promote economic resilience and business dynamism.

He added: “Since its inception in 2008, ITFC has extended over US$96 billion in trade financing to OIC member countries, becoming the leading provider of trade solutions in the region. Of this, US$20 billion was allocated to support private sector and SMEs – combining financial support, technical assistance, and capacity building efforts to help these enterprises access regional and international markets. In 2025 alone, ITFC approved US$9.3 billion in trade finance and disbursed US$7.5 billion across its member countries. Through its operations, the Corporation supported more than 120,000 jobs, provided access to finance for 546 corporates and SMEs, and facilitated US$7.8 billion in intra-OIC trade. These achievements reflect ITFC’s continued commitment to strengthening private sector competitiveness, enhancing trade connectivity, and fostering sustainable economic growth across OIC member countries.”

For more information, please visit the event website (www.isdbg-psf.org).

The post Islamic Development Bank Group Hosts 14th Private Sector Forum in Baku, Azerbaijan appeared first on NRI News.

The Forum brought together distinguished policymakers, regulators, development practitioners, and industry leaders to explore how Islamic finance can foster sustainable prosperity and address development challenges across Member Countries.

Aligned with the broader Annual Meetings theme, “Regional Integration for Sustainable Prosperity,” the Forum examined how countries and institutions can leverage Islamic finance to deepen regional integration, enhance economic resilience, and promote inclusive growth across IsDB Member Countries.

In his keynote speech, Mr. Taleh Kazimov, Governor of the Central Bank of the Republic of Azerbaijan, reaffirmed Azerbaijan’s commitment to contributing to the future development of the Islamic finance ecosystem, highlighting the country’s role as a reformer and a bridge between regions and markets. He emphasized the importance of a clear strategic vision in shaping future growth and cooperation.

Eng. Adeeb Yousuf Al Aama, Chief Executive Officer of ITFC, in a keynote speech on behalf of the IsDB Group, emphasized that Islamic finance should not be viewed merely as an alternative set of financial contracts or a niche segment of the global financial industry, but rather as a values-driven development paradigm that reconnects finance with the real economy, productive activity, shared prosperity, and social well-being.

In his opening remarks, Dr. Sami Al-Suwailem, Acting Director General of IsDB Institute, highlighted the significant contribution of the IsDB Group to the development of the global Islamic finance industry, now valued at approximately US$ 4-5 trillion. He underscored the importance of innovation in maintaining the leadership of the IsDB Group and ensuring the industry remains relevant and continues to contribute to sustainable development.

Key highlights of the forum included:

• The launch of a new report titled “Islamic Finance in Azerbaijan: Breaking New Ground,” jointly produced by IsDBI and ITFC, along with other flagship publications.
• Announcement of a memorandum of understanding between IsDBI and the Labuan Financial Services Authority to explore the Awqaf Free Zones flagship project.
• Two high-level panel discussions focusing on Islamic finance and development.
• Recognition of top performers in the Applied AI in Islamic Finance Competency Challenge.

The first panel session explored how Islamic finance can help countries overcome structural development challenges and achieve sustainable economic transformation. Speakers included Mr. Shahin Aydin Mahmudzade, Executive Director, Central Bank of Azerbaijan; Mr. Adnan Zaylani, Deputy Governor, Bank Negara Malaysia; Ms. Mihoko Kumamoto, Director, Division for Prosperity, UNITAR; Dr. Bambang Brodjonegoro, Dean, Asian Development Bank Institute; and Dr. Areef Suleman, Chief Economist, IsDB Group. The session was moderated by Mr. Mustafa Adil, Head of Islamic Finance, London Stock Exchange Group.

The second panel session examined practical approaches to mobilizing sustainable finance in support of food and energy security, drawing on insights from Member Countries and partner institutions. Speakers included Mr. Valeh Alasgarov, Chairman of the Board, AFEZ Authority, Azerbaijan; Dr. Mansur Muhtar, Chairman of the Board, Bank of Industry, Nigeria; Professor Emeritus Dato’ Dr. Azmi Omar, President & CEO, INCEIF University; and Mr. Orkhan Vidadi oglu Mammadov, Chairman, Small and Medium Business Development Agency of Azerbaijan (KOBİA). The session was moderated by Mr. Yahya Rehman, Associate Manager, IsDBI.

Winners of the Applied AI in Islamic Finance Competency Challenge were also recognized, as follows: Mr. Emin Jaafar (AlifPay) received first place, followed by Mr. Khalil Ben Mohamed (Ayech) in second place, and Mr. Elchin Huseyn (Mink Platform) in third place.

The Forum identified key priority areas for future collaboration, including scaling innovative Islamic finance instruments, strengthening institutional partnerships, and enhancing capacity development initiatives. It also reinforced the role of the IsDB Institute as a key partner in advancing practical, innovative solutions that support sustainable development and regional integration within the framework of Islamic finance. A video recording of the Forum is available here: https://www.youtube.com/live/nGTPhP7y3lw

The post Exploring Islamic Finance Solutions for Sustainable Prosperity appeared first on NRI News.

MUMBAI: On World Environment Day, AU Small Finance Bank (AU SFB), India’s largest Small Finance Bank and the first institution in over a decade to receive in-principle approval from the Reserve Bank of India to transition into a Universal Bank, reaffirmed its commitment to supporting India’s transition to a low-carbon and climate-resilient future through a focused and integrated sustainability strategy.

The Bank’s approach to climate action is anchored in three key pillars – Climate Finance, Greening Operations, and Community Engagement, enabling it to drive meaningful impact across its business and beyond.

Commenting on World Environment Day, Sanjay Agarwal, Founder, MD & CEO, AU Small Finance Bank, said, “Climate action requires a sustained and collective effort, and financial institutions have a critical role to play in enabling this transition. At AU Small Finance Bank, we are integrating sustainability across our core business through climate-focused financing, responsible operations, and community engagement. Our strong momentum in renewable energy financing, supported by our Green Deposit mobilisation, reflects our commitment to creating long-term value while contributing meaningfully to India’s climate goals.”

Driving Climate Finance with a Strong Focus on Renewable Energy

AU SFB has strengthened its climate finance efforts through its Green Fixed Deposit (Green FD) offering, a specialised deposit product with dedicated deployment towards eligible green assets.

As on 31 March 2026, the Bank has mobilised 24,520 Green Fixed Deposits, aggregating to approximately ₹2,950 crore, with 100% deployment into green assets. These include renewable energy (primarily solar projects), clean transportation (electric vehicles), and green buildings, with renewable energy emerging as the dominant focus area.

Renewable energy has become a key segment within AU SFB’s green asset portfolio, reflecting both strong market demand and the Bank’s strategic commitment to enabling low-carbon growth. The Bank continues to play an active role in financing India’s clean energy transition by supporting businesses and entrepreneurs across solar, wind, and other emerging clean energy segments through tailored financing solutions.

The Bank’s renewable financing footprint spans key high-growth corridors, including Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Uttar Pradesh, Punjab, Karnataka, Telangana, and Haryana, positioning AU SFB as a credible partner in India’s expanding clean energy ecosystem.

Greening Operations through Digital and Efficient Banking

Alongside financing climate solutions, AU SFB is committed to reducing its own environmental footprint through responsible and efficient operational practices.

The Bank is actively promoting video banking solutions, enabling customers to access services seamlessly while reducing the need for physical visits to branches. This shift helps lower commute-related emissions while also improving customer convenience and operational efficiency.  Further strengthening its digital-first approach, the Bank has expanded end-to-end digital onboarding and sourcing journeys, including paperless customer acquisition through its digital sales platform and Straight-Through Processing (STP) capabilities. AI-powered customer onboarding, digital loan journeys, workflow automation across back-office functions, and integrated digital servicing platforms have helped reduce manual interventions, physical documentation, and paper consumption.

Strengthening Communities through Environmental Initiatives

As part of its commitment to inclusive and sustainable development, AU SFB continues to invest in community-led environmental initiatives.

The Bank undertakes afforestation drives and water conservation programmes, contributing to ecosystem restoration, groundwater recharge, and climate resilience at the grassroots level. These initiatives are designed to deliver measurable environmental and social impact. Recent initiatives, including the restoration of Chennai’s Medavakkam Lake, exemplify the bank’s commitment to rejuvenation projects that boost regional groundwater and biodiversity.

The post AU Small Finance Bank Enhances Climate Action Initiatives with Sustainable Finance Commitment appeared first on NRI News.

As part of the collaboration, Marwadi University has been empanelled as a preferred institution for talent acquisition, enabling HDFC Bank to engage with a high-quality pool of MBA students for internships and recruitment. Students selected through the process will be offered a compensation package of ₹5.75 lakh per annum along with performance-linked incentives and other employee benefits.

Dr Sanjeet Singh, Pro Vice Chancellor, Marwadi University, shared, “The partnership comes at a time when India’s banking sector is witnessing rapid transformation driven by digital banking, customer-centric innovation, data analytics, and financial inclusion initiatives. Our partnership represents a significant step towards aligning academic learning with industry expectations. This collaboration will strengthen career opportunities for our students while contributing to the development of skilled talent for the banking sector.”

With a workforce of approximately 2.11 lakh employees and a network of 9,689 branches across 4,175 cities and towns in India as of March 31, 2026, HDFC Bank continues to invest in building a strong talent ecosystem to support its growth and customer service excellence nationwide.

The university secured over 1,000 job offers from 500 companies, including 212 multinational corporations, with leading recruiters such as TCS, Deloitte, Adani Group, Axis Bank, Amazon, and Wipro participating in the placement process. Students received opportunities across sectors, including IT, consulting, BFSI, e-commerce, manufacturing, and healthcare, with the average package reaching ₹5.28 LPA.

The post HDFC Bank Strengthens Campus Recruitment Efforts with Marwadi University Partnership appeared first on NRI News.

Held on the sidelines of the IsDB Group Annual Meetings, the Forum is organized in close collaboration with the Ministry of Economy of the Republic of Azerbaijan and the Export and Investment Promotion Agency of the Republic of Azerbaijan (AZPROMO) under the high patronage of His Excellency Mr. Ilham Aliyev, President of the Republic of Azerbaijan.

Under the theme “Regional Integration for Sustainable Prosperity”, PSF 2026 aims to reinforce the pivotal role of the private sector in fostering sustainable economic growth, enhancing trade and investment flows, and unlocking opportunities for strategic partnerships across IsDB member countries. At a time when enhancing regional value chains and economic resilience has become increasingly important, the Forum will serve as a strategic platform for key stakeholders to explore new business opportunities, exchange knowledge, and foster deeper economic integration among member countries.

PSF 2026 will spotlight emerging opportunities in key sectors such as infrastructure, energy, technology, healthcare, and finance, while promoting cross-border investment and trade.   Through high-level dialogues, B2B and B2G meetings, startup engagement, and knowledge-sharing sessions, the Forum aims to strengthen public-private collaboration, support entrepreneurship and SMEs, and promote innovation-driven growth across member economies.

The event is expected to attract over 1,500 participants, including high-level government officials, Presidents and CEOs of leading local and international companies, multilateral development institutions, chambers of commerce and industry, business associations, investment promotion agencies, investors, entrepreneurs, and financial institutions.

In addition to panel discussions and keynote speeches, PSF 2026 will feature a dedicated exhibition platform where partners can showcase projects, services, and investment opportunities. The Forum will also host a startup competition designed to foster innovation and highlight promising business ideas. Furthermore, for the fourth time, the event will present the IsDB Group Recognition Awards, honoring distinguished organizations and individuals for their contributions to economic development and trade facilitation.

The forum will welcome prominent speakers, including the Chief Executive Officers of the IsDB Group Affiliates, notably Dr. Khalid Khalafalla, CEO of ICIEC and Acting CEO of ICD, and Eng. Adeeb Yousuf Al Aama, CEO of ITFC. Together with industry leaders and experts, they will share insights and best practices aimed at strengthening investment and trade cooperation among IsDB member countries.

For further details, please visit the event’s official website: www.isdbg-psf.org

The post Islamic Development Bank Group Affiliates to Convene 14th Private Sector Forum in Baku appeared first on NRI News.

PUNE: Piaggio Vehicles Pvt Ltd (PVPL), a wholly owned subsidiary of the Italian auto giant Piaggio Group, and India’s leading manufacturer of small commercial vehicles, has signed a Memorandum of Understanding (MoU) with India’s largest public sector bank, State Bank of India (SBI), Lucknow circle. This strategic partnership is designed to leverage the Uttar Pradesh Government’s ambitious CM Yuva Yojna, a flagship initiative aimed at creating employment opportunities for 1.5 lakh youth across the state by fostering entrepreneurship, self-reliance, and small business ownership.

The MoU was signed between Amit Sagar, Executive Vice President for CV Domestic Business and Retail Finance at PVPL, and Vibhash Kumar, Deputy General Manager, State Bank of India. Through this collaboration, SBI’s extensive network of over 1,600 branches across central and eastern Uttar Pradesh will offer financing solutions for Piaggio’s trusted full range of three-wheelers, including both Electric Vehicles (EVs) and Internal Combustion Engine (ICE) models.

Under the CM Yuva Yojna and Mudra schemes, eligible youth entrepreneurs aged 25–40 years will benefit from highly attractive financing support, including:

• 0% interest loans (Interest Free loan) backed by 100% government subsidy
• Funding of 85–90% of the vehicle cost
• Four-year repayment tenure
• No guarantor requirement
• Refund of margin money upon successful loan repayment

These benefits significantly lower barriers to vehicle ownership and empower aspiring entrepreneurs to establish sustainable livelihoods.

As part of this initiative, Piaggio India will also establish dedicated CM Yuva Help Centers across its dealership network in Uttar Pradesh, enabling interested applicants to access guidance, financing assistance, and seamless onboarding into the programme through their nearest Piaggio 3-wheeler showroom.

This collaboration marks a significant milestone in Piaggio India’s mission to strengthen commercial mobility while supporting socio-economic progress in Uttar Pradesh. By combining Piaggio India’s trusted and versatile three-wheeler portfolio with SBI’s deep financial expertise and unparalleled reach, the partnership aims to create a robust ecosystem for employment generation and inclusive growth.

Speaking on the partnership, Amit Sagar, Executive Vice President, CV Domestic Business & Retail Finance, Piaggio Vehicles Pvt Ltd, said: “India’s mobility landscape is evolving rapidly. From small entrepreneurs to fleet operators, a new class of owners is emerging, and they need financing that understands their realities. Through this partnership, Piaggio India and State Bank of India are bringing together the strength, trust, and reach of two respected institutions to make vehicle ownership simpler, faster, and more accessible. By leveraging the Uttar Pradesh Government’s CM Yuva Yojna, which offers eligible young entrepreneurs 0% interest free financing, government-backed subsidies, and simplified access to business ownership, we are creating meaningful opportunities for self-employment and enterprise development at scale. This initiative goes beyond vehicle financing; it is about enabling aspirations, fostering entrepreneurship, and contributing directly to employment generation for the youth of Uttar Pradesh. Piaggio India remains committed to supporting inclusive economic progress through practical, sustainable, and accessible mobility solutions.”

Vibhash Kumar, Deputy General Manager, State Bank of India, added: “This collaboration combines SBI’s trusted financial capabilities and extensive network with Piaggio’s established leadership in the three-wheeler segment to create meaningful livelihood opportunities for aspiring entrepreneurs across Uttar Pradesh. Through CM Yuva Yojna, we are committed to supporting youth-led enterprise by making affordable financing widely accessible, thereby strengthening self-employment, last-mile connectivity, and long-term economic development.”

With this partnership, Piaggio Vehicles further reinforces its leadership in India’s three-wheeler market by integrating mobility, finance, and entrepreneurship into a unified platform that empowers the next generation of business owners while contributing to Uttar Pradesh’s employment and development agenda.

The post Piaggio Vehicles and SBI Lucknow Collaborate to Provide Interest-Free Financing for 3-Wheelers Under CM Yuva Yojna appeared first on NRI News.

MUMBAI: Citi will host its flagship India Conference 2026 on June 3 & 4 at the Jio World Convention Centre, Mumbai. The largest event for Citi in India will convene more than 1,000+ clients, 40+ CXOs, and 120+ corporates, representing a combined market capitalization of approximately US$1.8 trillion.

Bringing together leaders from across the corporate and financial ecosystem, the conference will create opportunities for engagement through discussions, networking, and knowledge-sharing.

The two-day event will serve as a platform to discuss the forces reshaping business, investment, and economic activity in India and globally. The sessions will cover a range of topics, including the macroeconomic outlook, policy environment, capital markets, emerging investment trends, artificial intelligence, digital infrastructure, and innovation.

Amol Gupte, Citi’s Asia South Cluster & Banking Head, said: “The Citi India Conference puts a spotlight on India’s significant and growing role in the world economy and reflects the confidence that global investors and businesses place in India’s future. As we approach 125 years of Citi’s presence in India next year, we are proud to continue to connect India’s most ambitious corporates to global opportunities and multinational companies to opportunities in India — and this conference sits right at the heart of that journey.”

K Balasubramanian, India CEO & Banking Head and Indian Subcontinent Sub-Cluster Head, Citi, said: “Citi is delighted to host Government dignitaries, senior clients, key investors, and thought leaders to this Conference, which is expected to unlock the value of India as an investment destination and provide investors an opportunity to take part in the long-term growth narrative amidst a volatile market. 

As the world’s most global bank, with our leading institutional banking platform in India, Citi connects cross-border perspectives, strategic capital, and transformative ideas. This conference is a natural extension of that commitment. We hope every participant leaves with new perspectives, stronger connections, and a deeper conviction in the India opportunity.”

The Citi India Conference reflects Citi’s longstanding commitment to supporting clients through deep market expertise, global connectivity, and access to strategic opportunities across markets.

The post Citi to Host Flagship India Conference in Mumbai appeared first on NRI News.

MUMBAI: State Bank of India (SBI), the nation’s largest lender, announced the inauguration of its Local Head Office (LHO) in Pune, marking a significant milestone in the Bank’s continued efforts to deepen its regional presence, enhance customer service delivery, and accelerate its growth journey.

The Local Head Office was inaugurated by the Hon’ble Union Finance Minister, Smt. Nirmala Sitharaman, in the august presence of the Hon’ble Secretary – Department of Financial Services, Shri M. Nagaraju, SBI Chairman Shri Challa Sreenivasulu Setty, SBI Chief General Manager – Maharashtra Circle Shri Nand Kishor Singh, and Member of Parliament, Maharashtra, Smt. Medha Kulkarni, along with senior officials from SBI and other distinguished dignitaries.

The establishment of the Pune LHO underscores State Bank of India’s commitment to strengthening its operational capabilities in a key economic region. The state-of-the-art facility will house key administrative and operational functions of the Circle. This integrated framework will collectively enable a more seamless, responsive, and scalable banking experience. The Maharashtra circle was carved out of the Mumbai circle to sharpen the Bank’s regional focus. While the Mumbai LHO will continue to serve the country’s financial capital and Goa, the Pune LHO will serve the rest of Maharashtra.

Inaugurating the Local Head Office, the Hon’ble Finance Minister Smt. Nirmala Sitharaman said, “The decision of State Bank of India to move its Local Head Office to Pune to serve the rest of Maharashtra, with districts towards the east and southeast of the state, reflects the Bank’s nimble, dynamic, and responsive approach. This move is an indication of how SBI is moving forward to meet the aspirations of Viksit Bharat 2047.”

Expressing his thoughts at the ceremony, the Department of Financial Services Shri M. Nagaraju said, “SBI’s strengthened presence in Maharashtra through this new LHO is aligned with the State Govt.’s own vision of economic development. This new LHO at the heart of Pune will bring financial decision-making closer to the people. It also positions the Bank right at the intersection of commerce, technology, and opportunity. SBI is an institution woven into the very fabric of India’s growth story with a balance sheet that represents nearly 20% of India’s GDP, and a customer base that is approx 35% of the nation’s population.”

Commenting on this development, Shri Challa Sreenivasulu Setty, Chairman, State Bank of India, said: “The inauguration of our Local Head Office in Pune reflects our intent to be closer to our customers and be more responsive to regional opportunities. As SBI aspires to increase its balance sheet’s size to 25% of the Country’s GDP from the existing 20%, this step is both timely and forward-looking as Maharashtra offers immense untapped economic potential and is also a leading indicator of India’s economic activity and scale of the country’s ambitions. Within this Maharashtra circle, Pune accounts for its significant share – 27% of deposits and 34% of loans, underscoring its central role in our business. Pune has evolved into one of India’s foremost centres of education, technology, and industry. It is also recognized as a thriving hub for IT, engineering, and automotive innovation. Therefore, establishing an LHO in Pune is a strategic alignment with a high-growth, future-ready ecosystem.”

The inauguration reflects SBI’s continued support for the Government of India’s vision of inclusive and sustainable economic development. By strengthening its regional footprint, the Bank aims to contribute meaningfully to the region’s economic development by supporting critical sectors such as infrastructure, agriculture, MSMEs, and emerging industries. The Pune Local Head Office stands as a testament to the Bank’s enduring commitment to scale, service excellence, and innovation- further solidifying its leadership as India’s foremost banking institution.

As part of this special occasion, SBI donated Rs 22.15 crore under its CSR activities for supporting various projects such as water conservation, wastewater management, education, rural livelihoods, community well-being, and healthcare.

During the event, Hon’ble Finance Minister also unveiled a commemorative postal stamp dedicated to State Bank of India as a tribute to the Bank’s unwavering commitment to financial inclusion, innovation, and customer service.

The post SBI Launches New LHO to Enhance Regional Focus and Explore Future-Ready Markets appeared first on NRI News.