APRIL 20249TOP STORIESHDFC BANK SEEKING TO SELL 100 PERCENT OF ITS EDUCATION SUBSIDIARYHDFC Bank has announced its decision to divest its entire 100 percent stake in HDFC Education and Development Services The bank disclosed this information in a regulatory filing on Saturday, stating that the transaction will be conducted using the Swiss challenge method.According to the filing, HDFC Bank has entered into a binding term sheet with an interested party on March 30, 2024. The offer outlined in this term sheet will serve as the anchor or base bid, inviting counter offers from other potential parties interested in participating in the Swiss challenge process.The bank will select the purchaser based on the completion of the Swiss challenge process. Subsequently, HDFC Bank and the successful bidder will proceed to finalize definitive documentation for the transaction.HDFC Education and Development Services is involved in providing services to three educational institutions, as mentioned in the filing. NTPC SECURES CAPITAL VIA FOREIGN CURRENCY LOANSState-owned power company NTPC announced on Tuesday that it has entered into an agreement with Japan Bank for International Cooperation (JBIC) for sourcing foreign currency loans totaling $ 200 million (equivalent to JPY 30 billion or approximately Rs 1,650 crore).Under the agreement, JBIC, a government policy-based financial institution of Japan, will provide 60 percent of the loan facility, while the remaining balance will be sourced from other commercial banks under JBIC guarantee.The agreements have been signed for separate JPY 15 billion loans each for NTPC Ltd and NTPC Renewables Energy Ltd (NREL), the statement added.This funding has been extended under JBIC's initiative named 'Global action for Reconciling Economic growth and Environment preservation' (GREEN), aimed at supporting projects that contribute to environmental conservation on a global scale.The loan proceeds will be utilized by NTPC to finance a portion of its capital expenditure requirements for Flue Gas Desulphurization (FGD) projects. FGD technology significantly reduces sulfur dioxide (SOx) emissions in the flue gases of thermal power stations, aligning with environmental sustainability objectives.This marks the second loan extended to NTPC under JBIC's GREEN operations in India.The funds allocated to NREL will support its capital expenditure for renewable energy projects, aligning with its mission to provide reliable, affordable, and sustainable energy solutions.
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