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बेसिक इंग्लिश का दूसरा सत्र (कक्षा प्रारंभ : 22 अक्तूबर, शाम 3:30 से 5:30)
Now UK Offers 1 Billion Pound Credit Line for Indian Infrastructure Projects
Jul 11, 2014

India and the United Kingdom agreed to set up a £1 billion line of credit to finance infrastructure projects in the country such as the Bangalore-Mumbai Economic Corridor as well as greater cooperation in infrastructure financing and checking tax evasion.

The decision was taken at the seventh round of the UK-India Economic and Financial Dialogue. This will be supported by the announcement that 10 global banks are in discussions with UKEF to deliver government funded loans through the £3 billion Direct Lending Scheme, with more banks expected to join them in the coming weeks. Further progress has been made on the Infrastructure Feeder Fund.

Under the proposed feeder fund, the finance ministry will help the UK Treasury in discussions with infrastructure debt funds to design a London-based fund that will raise capital from the London market for investing in India’s infrastructure debt.

Recognising Mumbai’s role as a financial centre, the two countries have also agreed to launch the UK-India Financial Partnership under which financial services industries will establish closer ties between London and Mumbai as financial centres.

The UK and India reiterated their determination to lead on tackling tax evasion, noting that the two countries would begin exchanging tax information on an automatic basis from 2017 with each other and with a large number of jurisdictions as part of their commitment to early adoption of the new Global Standard. 

As part of the bilateral talks, the two nations also discussed issues related to trade and investment as well as regulation of financial services.

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