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RBI Press Release No. 2020-2021/284 dated 04.09.2020

The RBI has updated the Priority Sector Lending (“PSL”) Guidelines. According to the updated Guidelines, there are some new categories eligible for the same, including bank finance to startups and financial assistance to farmers to setup solar grids etc. The Guidelines also prescribe that credit limit for health infrastructure and loan limit for renewable energy have both been doubled. The targets prescribed for small and weaker sections will also be increased in a phased manner.

Asia Law Offices advised a major transnational strategic collaboration between its client, UAE-Based Pharmax Pharmaceuticals, and Swiss pharma major Acino Pharmaceuticals.

ALO represented Pharmax in the structuring and closure of entire transaction documents of the significant collaboration.

The collaboration framework extends to licensing, manufacturing, and supply of Acino formulations within the gastroenterology and the cardiovascular space throughout the Middle East and Africa.