China development bank News

With total debt of Rs 457.33 billion ($7.1 billion) as of end March, RCom is the most-leveraged of all listed telecoms carriers in India.

RCom, backed by billionaire Anil Ambani, has struggled with its heavy debt load and a string of losses, leading to a partial shutdown of its operations.

BSE had sought clarification from Reliance Communications after market hours on Monday with respect to news that China Development Bank has filed an insolvency case against it.

RCom is attempting to convert roughly 70 billion rupees of its debt to equity via a strategic debt restructuring plan.

The agreement on credit ratings allows the ICM members to share information about internal credit ratings assigned to clients, as well as rating assessment and assignment methodologies, the Russian bank said.

Deutsche Bank, Germany's biggest lender, said on Wednesday it would support three billion dollars' worth of development projects in partnership with China Development Bank (CDB).

The funds will be used mainly to construct homes, support facilities and basic public infrastructure, with the rest going to the restoration of vacated lands, state planner National Development and Reform Commision (NDRC) said in a document. 

China`s central bank lent 275 billion yuan ($41.24 billion) via its medium-term lending facility (MLF) to financial institutions in September, it said in an online statement on Saturday.

Bharti Airtel on Saturday said it has received financing commitments of up to USD 2.5 billion from China Development Bank and Industrial and Commercial Bank of China, with an average maturity of about nine years.

Switzerland and Luxembourg are planning to join the Beijing-backed development bank AIIB, China`s finance ministry said, the latest European nations to sign up to the multilateral lender which has drawn scepticism from the United States.