In an official statement, Reserve Bank of India (RBI) said banks must make 3.75 percent provisioning, from March 31, 2014, for loans already restructured. The provisioning would rise further to 5 percent with effect from March 31, 2015, the statement said. The central bank also said that with effect from April 1, 2015, restructured accounts would be immediately classified as sub-standard. Non-performing asse
Author: admin (Infratructure Today)
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OVL’s $1 bn acquisition plan gets CCEA nod
The proposal of ONGC Videsh (OVL) to pick up the 2.7213 per cent stake of US energy major Hess Corp in the Azerbaijan oilfield received approval from the Cabinet Committee on Economic Affairs (CCEA). According to the plan, OVL would invest $ 1.001 billion to buy 2.7213 per cent stake of the above mentioned firm in Azeri, Chirag and the deep water porti
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Rs 1,780 cr sanctioned to MP for rural roads
The Madhya Pradesh government has been sanctioned Rs 1,780 crore by the Union Government for construction of 1,521 new roads under the Pradhan Mantri Gram Sadak Yojna (PMGSY).
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Centre to ease environment rules for road projects
To clear hurdles for road projects in forest areas without mandatory consent of gram sabha (the village body) the Union Tribal Affairs and Environment Ministry on February 1 resolved their differences.
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Highway in Vijayawada checked for safety
To prevent accidents traffic regulations in Vijayawada is a must, the District Collector Budha-prakash M Jyothi stated while addressing road safety meeting in the city on February 1. The collector said that the road safety committee members inspected the highway near Kanakadurga temple ghat road.
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BBMP takes up Magadi Road stretch for asphalting
A stretch on Magadi Main Road in Bangalore is being closed for repairs. The Bruhat Bangalore Mahanagara Palike (BBMP) is taking up asphalting of Magadi Main Road, which is in a bad shape. The stretch between Hunasemara junction and Prasanna Circle will be closed for the repairs.
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Deadline likely to be extended for Gurgaon e-way works
In a big relief to all the stakeholders in the construction of Delhi-Gurgaon stretch, National Highways Authority of India (NHAI) allowed Infrastructure Development Financing Company (IDFC) to take 74 per cent stake in the project on January 30 and is likely to extend deadlines for the work. Overlaying on the entire Delhi-Gurgaon stretch was to be completed, as per an agreement signed by the NHAI, the project concessionaire and IDFC.
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ADB holds parleys with banks on IDF
Hun Kim, Country Director of Asian Development Bank (ADB) informed that the multilateral lending institution is discussing with several banks on participating in the infrastructure debt fund (IDF) floated by them. It is learnt that ADB plans to participate in the IDF floated by domestic banks through the NBFC route. The current regulatory framework allows IDFs to be floated eith
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Terminals at Chennai airport opened for public
Recently, the new domestic and international terminals at the Chennai airport were opened for public use by Vice-President Hamid Ansari. It may be recalled that the Airport Authority of India (AAI) built the terminals at a cost of Rs 2,000-crore to enhance capacity. The existing terminals had a capacity to handle six milli
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RINL mulls Rs 20 bn investment in FY14
Agency reports suggest that Rashtriya Ispat Nigam (RINL) would invest Rs 2,000 crore in 2013-14 if it secures a captive iron ore mine in Andhra Pradesh. If it fails to secure a captive mine in Andhra Pradesh, the corporate entity of Vizag Steel would invest Rs 1,200 crore on capital expenditure for 2013-14, agency reports quoted a top official of the firm as sayin