Page 20 - Banking Finance February 2024
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PRESS RELEASE

          Closer Ties between India and Australia attain Renewed Significance

                                 in an Evolving Global Trade Landscape

          India Exim Bank’s Study titled ‘Building Bridges: An Economic Analysis of India-Australia Trade and Investment Relations’
          was released by Ms Harsha Bangari, Managing Director, India Exim Bank and Mr. John Hopkins, MD & CEO, Export
          Finance Australia (EFA) on November 21, 2023, during the sidelines of the Asian Exim Bank Forum (AEBF) Annual Meeting
          held at Sydney, Australia.
          AEBF was conceived and initiated by Export-Import Bank of India in 1996 for Asian Export Credit Agencies (ECAs) to
          exchange information and share ideas in a structured manner. The Asian ECA forum’s principle task is to develop and
          enhance regional cooperation and forge stronger linkages among its member institutions, thereby fostering a long term
          relationship within the Asian ECA community. The EFA hosted the 28th AEBF annual meetings under the theme, Export
          Credits 2040: Future Priorities for an Evolving Landscape.

          India Exim Bank’s Study titled ‘Building Bridges: An Economic Analysis of India-Australia Trade and Investment Relations’
          was released during the Annual Meetings. The Study provided a bird’s eye view of the growing India-Australia trade and
          investment relations during the pre- Australia-India Economic Cooperation and Trade Agreement (ECTA) period and how
          ECTA could bring about a strategic shift in India’s trade and investment relations with Australia.
          With the evolving global scenario, Australia has come to look at India as an important partner in promoting regional
          security and stability. India-Australia bilateral relationship has developed along a positive track into a strategic partnership.
          Merchandise trade between India and Australia which stood at US$ 15.6 million in 2012, has increased to US$ 27.8
          billion in 2022. While India’s trade relations with Australia have transformed considerably over the last decade, the
          structure and pattern are yet to be diversified and there lies huge potential for diversifying India’s exports.
          The study, employing a revealed comparative analysis, identified Indian exports having a comparative advantage in
          Australia and provided strategy for enhancing trade in these products. The analysis also delves into the examination of
          pre-ECTA tariffs, as well as non-tariff barriers and services restrictions impacting trade between India and Australia.

          HDFC Bank Starts 2024 with Comprehensive Cyber Fraud Awareness

                                         Workshops in North India
          HDFC Bank as a part of its ongoing digital banking awareness drive, conducted a series of secure banking workshops in
          Delhi, Uttar Pradesh, Rajasthan, Punjab, Haryana, Himachal Pradesh, and Jammu & Kashmir. The Bank started 2024 by
          organizing over 900 such workshops sensitizing over 28,000 citizens on safe digital banking practices.
          These workshops were aimed at educating school cum college students, customers, law enforcement agencies, senior
          citizens, self-help groups, and employees. Through these interactive sessions, participants gained valuable insights on safe
          digital banking practices so that they don’t fall prey to Cyber Frauds.
          Commenting on this Mr. Manish Agrawal, Executive Vice President – Credit Intelligence and Control – HDFC Bank said,
          “Financial Education and Awareness about frauds while transacting play a vital role in the fast-evolving digital era. The
          objective of these awareness sessions is to educate participants on various modus operandi used by fraudsters and the
          secure banking practices that they need to follow. Awareness is the first step from falling a prey to cyber frauds.”
          In the current financial year, HDFC Bank has conducted over 6,200 such session PAN India and reached out to over 79,000
          participants covering various segments of society.
          The Bank encourages customers to be cautious and adopt safe banking habits while transacting digitally and avoid sharing
          their confidential banking information with anyone. In case a customer falls prey to frauds, they must get in touch with
          their respective branch immediately.

            18 | 2024 | FEBRUARY                                                           | BANKING FINANCE
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