+
RBI and IRDAI Urged to Aid Export Amid Red Sea Crisis
ECONOMY & POLICY

RBI and IRDAI Urged to Aid Export Amid Red Sea Crisis

Amidst the ongoing crisis in the Red Sea region, the Reserve Bank of India (RBI) and the Insurance Regulatory and Development Authority of India (IRDAI) have been approached to intervene and assist in minimising the adverse effects on India's exports. The request comes as concerns escalate over the potential disruption of trade routes and shipping operations due to the geopolitical tensions in the Red Sea area.

The call for assistance from RBI and IRDAI underscores the urgency of the situation, with exporters expressing apprehensions about the impact of the Red Sea crisis on their business operations. The region serves as a crucial maritime route for India's trade with various countries, particularly those in the Middle East and Africa.

The escalating tensions in the Red Sea area have raised concerns about the safety and security of shipping vessels, leading to potential disruptions in the movement of goods and commodities. This has prompted exporters to seek support from regulatory bodies such as RBI and IRDAI to mitigate the risks and ensure the smooth continuation of export activities.

RBI and IRDAI are expected to explore measures to address the challenges posed by the Red Sea crisis, including providing financial assistance and insurance coverage to exporters. Additionally, efforts are underway to enhance coordination with relevant authorities and stakeholders to monitor the situation closely and respond effectively to any emerging developments.

The proactive involvement of RBI and IRDAI in addressing the potential impact of the Red Sea crisis on India's exports reflects the government's commitment to safeguarding the interests of the country's trade and commerce amid evolving geopolitical dynamics.

Amidst the ongoing crisis in the Red Sea region, the Reserve Bank of India (RBI) and the Insurance Regulatory and Development Authority of India (IRDAI) have been approached to intervene and assist in minimising the adverse effects on India's exports. The request comes as concerns escalate over the potential disruption of trade routes and shipping operations due to the geopolitical tensions in the Red Sea area. The call for assistance from RBI and IRDAI underscores the urgency of the situation, with exporters expressing apprehensions about the impact of the Red Sea crisis on their business operations. The region serves as a crucial maritime route for India's trade with various countries, particularly those in the Middle East and Africa. The escalating tensions in the Red Sea area have raised concerns about the safety and security of shipping vessels, leading to potential disruptions in the movement of goods and commodities. This has prompted exporters to seek support from regulatory bodies such as RBI and IRDAI to mitigate the risks and ensure the smooth continuation of export activities. RBI and IRDAI are expected to explore measures to address the challenges posed by the Red Sea crisis, including providing financial assistance and insurance coverage to exporters. Additionally, efforts are underway to enhance coordination with relevant authorities and stakeholders to monitor the situation closely and respond effectively to any emerging developments. The proactive involvement of RBI and IRDAI in addressing the potential impact of the Red Sea crisis on India's exports reflects the government's commitment to safeguarding the interests of the country's trade and commerce amid evolving geopolitical dynamics.

Next Story
Infrastructure Energy

REC Hosts 56th AGM, Highlights Record Growth and Sustainability

REC Limited conducted its 56th Annual General Meeting (AGM) today through video conferencing, chaired by Jitendra Srivastava, Chairman & Managing Director. The meeting highlighted the company’s record operational and financial performance during the year, along with its strong focus on sustainability and ESG-led initiatives.Jitendra Srivastava, Chairman & Managing Director, in his address noted that REC achieved significant milestones during the year, strengthening its position as a performance-driven public financial institution. Loan sanctions stood at Rs 3.37 trillion, with disbur..

Next Story
Infrastructure Transport

ADGBR Reviews Road Projects under Project Vartak

Additional Director General Border Roads (ADGBR) Jitendra Prasad conducted a four-day review of ongoing road and bridge construction works under Project Vartak in the area of responsibility (AoR) of the 42 Border Roads Task Force (BRTF) from 19 to 22 August.Prasad inspected key infrastructure projects including the Balipara–Charduar–Tawang (BCT) road, Sela–Chabrela–Banga Janga Gonpa road, Banga Janga Gonpa–Lagamche GG road, the Sela tunnel, and multiple roads in the Nelya sector.At various construction sites, project officials briefed him on project scope, progress, timelines, and op..

Next Story
Infrastructure Transport

Nitin Gadkari Launches Three Highway Projects in Madhya Pradesh

Union Minister for Road Transport and Highways, Nitin Gadkari, laid the foundation stone for three National Highway (NH) projects in Madhya Pradesh on 24 August. According to the Ministry of Road Transport and Highways (MoRTH), the projects are designed to reduce travel time, ease congestion, enhance road safety, and improve connectivity across key corridors.The first project covers the four-laning of the 17.87 km Amazhar–Barela stretch, completing the Jabalpur Ring Road. The upgrade will divert heavy vehicles away from the city, reduce accident risks, and ensure smoother connectivity from A..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?