BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Multilateral Investment Guarantee Agency
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International Finance Corporation
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International Bank for Reconstruction and Development
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International Development Association
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Detailed explanation-1: -IFC Launches 16 Billion Indian Rupee Masala Bond, Reaching 99 Billion Rupee in Offshore Issuances.
Detailed explanation-2: -In India, the first Masala bond was issued by the World Bank-backed IFC in November 2014, and it raised Rs. 1, 000 crore bond to fund infrastructure projects in India. Later in August 2015, IFC issued green masala bonds and raised Rs.
Detailed explanation-3: -In July 2016 HDFC raised 3, 000 crore rupees from Masala bonds and thereby became the first Indian company to issue masala bonds. In the month of August 2016 public sector unit NTPC issued first corporate green masala bonds worth 2, 000 crore rupees.
Detailed explanation-4: -Difference between a Eurobond and a Masala bond In other words, the masala bond allows the bond issuer to raise funds from overseas investors in local currency, while Eurobond is issued in a currency other than the issuer’s local currency.
Detailed explanation-5: -Rupee denominated bonds are also called masala bonds because they are issued outside India in Indian currency rather than any other local currency. Also, the word Masala means Indian spices. International Finance Corporation (IFC) used the term Masala to evoke the cuisine and culture of India.