{"id":526054,"date":"2022-09-30T09:51:23","date_gmt":"2022-09-30T04:21:23","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=526054"},"modified":"2022-09-30T10:51:44","modified_gmt":"2022-09-30T05:21:44","slug":"indian-oil-corporation-sets-up-new-unit-for-treasury-operations","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/indian-oil-corporation-sets-up-new-unit-for-treasury-operations\/","title":{"rendered":"Indian Oil Corporation sets up new unit for treasury operations"},"content":{"rendered":"<p>NEW DELHI (Reuters) &#8211; India&#8217;s top refiner Indian Oil Corp has set up a subsidiary to pool the funds of its overseas units in order to meet capital and trade finance needs, it said in a statement on Thursday.<\/p>\n<p>The new unit &#8211; Finance Company &#8211; will help IOC benefit from interest arbitrage as the company&#8217;s borrowings increase after selling fuel locally at below-market rates.<\/p>\n<p>Finance Company will be based in the International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City) in western India.<\/p>\n<p>GIFT City is the culmination of Prime Minister Narendra Modi&#8217;s dream to create an international financial centre in the western state, where he was chief minister from 2001 to 2014.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI (Reuters) &#8211; India&#8217;s top refiner Indian Oil Corp has set up a subsidiary to pool the funds of its overseas units in order to meet capital and trade finance needs, it said in a statement on Thursday. The new unit &#8211; Finance Company &#8211; will help IOC benefit from interest arbitrage as the company&#8217;s borrowings increase after selling fuel locally at below-market rates. Finance Company will be based in the International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City) in western India. GIFT City is the culmination of Prime Minister Narendra Modi&#8217;s dream to create [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-526054","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/526054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=526054"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/526054\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=526054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=526054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=526054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}