Page 20 - Banking Finance October 2025
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PRESS RELEASE

           EDB–India Exim Bank Webinar Highlights Natural Synergy and Trade

               Finance Potential in India–Central Asia Economic Cooperation

          In a significant step towards enhancing regional economic integration, the Eurasian Development Bank (EDB) and the Export-
          Import Bank of India (India Exim Bank) co-hosted a webinar on September 10, 2025, marking the first collaborative initiative
          between the two institutions. This strategic engagement aims to deepen economic and financial ties between India and
          the Central Asian region, focusing on promoting greater cooperation in trade, investment, and development finance.
          The webinar, titled ‘Bridging Borders: Role of Trade Finance in Enhancing India–Central Asia Trade’, explored how trade
          finance can unlock new opportunities for collaboration and economic growth in the region. While trade between India and
          Central Asia has shown consistent growth, substantial untapped potential remains. Both regions stand to benefit significantly
          from deeper economic engagement, particularly through the facilitation of cross-border trade and financial partnerships.

          The EDB Management Board Chairman Mr. Nikolai Podguzov stated: “We as a Bank provide approximately $2.5 billion
          in annual financing across various sectors and currencies, maintaining a strategic focus on Central Asia where our portfolio
          has reached nearly $9 billion. A key tool for facilitating trade expansion, our trade finance operations — including letters
          of credit and guarantees — exceed 10% of the total portfolio. We actively co-finance projects with other International
          Financial Institutions and collaborate with export credit agencies to attract concessional funding. Beyond financing
          individual deals, our broader goal is to help shape a steady, long-term trade corridor between India and Central Asia. On
          India’s side, we see strong interest in sectors like electric equipment, machinery, transport vehicles and pharmaceutical
          products, among others. From Central Asia, there is growing export potential in mineral fuels, fertilizers, inorganic
          chemicals, precious stones and metals. So India indeed is a promising direction for us.”
          Speaking at the webinar, Ms. Harsha Bangari, Managing Director, Export-Import Bank of India, welcomed the participants
          and highlighted “Trade finance is a critical enabler of international trade, with nearly 80% of all international trade using
          some type of trade finance instruments. However, the global trade finance gap has been widening, due to the pandemic,
          geopolitical issues, increasing protectionism, and tightening financial conditions. In response to these challenges, Exim
          Bank is working towards bridging the financing gaps in trade transactions, with its recent initiatives”.

             IDFC FIRST Bank Enables GST Payments for Customers and Non-

                                                     Customers

          IDFC FIRST Bank is pleased to announce the facility to pay  now seamless, accessible, and inclusive. This enhancement
          GST for both its customers as well as non-customers. The  is a  part  of  our broader  effort  to deliver world-class
          integration provides the following features:        digitalbanking solutions and empower all taxpayers with
          1. Open to both customers and non-customers.        frictionless payment experience.”
          2. Customers can pay GST through UPI, Credit Cards, and  IDFC FIRST Bank is among Private Sector Banks authorised
             Debit cards and internet Banking.                for GST collections, reaffirming its commitment to offering
          3. Customers can also pay through nationwide branch  universal banking solutions and comprehensive financial
                                                              services to the wider ecosystem.
             network (via DD/Cheque/Cash).
                                                              Steps to Pay GST Using IDFC FIRST Bank Internet Banking:
          4. Easy access to downloadable challans.
                                                              1. Log in to the GST portal: https://services.gst.gov.in/
          This enhances the convenience and accessibility for all  services/login
          taxpayers across the country through a wide range of
          digital channels.                                   2. Create a Challan and select E-Payment -> Net Banking/
                                                                 Credit/ Debit Card/ BHIM UPI
          Mr. Ashish Singh, Head – Retail Liabilities at IDFC FIRST
                                                              3. Choose IDFC FIRST Bank as the payment option and
          Bank, said “As a universal bank, our goal is to provide
          complete services to our customers. Customers and Non-  complete payment
          customers of IDFC FIRST Bank can now make GST payment  4. Download/ print the GST paid challan
          through UPI, Credit and Debit Cards. So, tax payments are  For more information, please visit www.idfcfirstbank.com

            18 | 2025 | OCTOBER                                                            | BANKING FINANCE
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