In order to finance its growth plans, Shriram Transport Finance plans to launch public issue for Rs 1,000 crore worth of debt instruments. The company reportedly requires Rs 20,000-25,000 crore to meet disbursements every year, the majority of which would be met through debt and our own business. The company, which forayed into equipment finance business last year, has not performed well in that verti
Author: admin (Infratructure Today)
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Bank of Baroda expects 20% credit growth
P Srinivas, Executive Director of Bank of Baroda is hopeful that the bank would be able to close the year with a credit growth of 19-20 per cent driven by a good show by the retail segments. While the firm expects moderation in growth in its corporate loan book, its retail loan segment would grow faster in 2012-13, he said. On capital infusion, he said government has not informed the bank about the quantum of infusion for the bank
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Microfinance firms raise funds
Several microfinance institutions (MFIs) in the country have raised capital during 2012 because of expectation of better growth prospects in the coming years. For example, Grameen Capital India, a social-investment bank, says $144 m of equity has been injected into microfinance groups in the past 12 months, mor
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Govt to send slew of proposals to cabinet
Union government would send a series of proposals to the cabinet. Among the proposals are the plan to launch a public sector undertaking (PSU) ETF (exchange traded fund). The cabinet would also receive a proposal to ease the offer for sale (OFS) norms to facilitate easier trades through this mechanism. The ministry is also moving a cabinet note to use the disinvestment proceeds for capitalisation of state-owned bank
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RBS in talks with YES Bank to sell retail assets
Royal Bank of Scotland (RBS) is in the early stage of discussion with private sector lender YES Bank to sell its India retail assets. The India retail and commercial operations accounted for less than 0.5 per cent of RBS' non-core asse
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Odisha govt puts condition on raw material supply
Reports suggest that Odisha government has made some reservation in maintaining its commitment to supply raw material to steel projects, the memoranda of understanding (MoU) for which are already signed. In the case of existing MoUs, the government may not retain any clause committing grant of or recommendation for grant of Mineral Concession, a guid
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Steel sector witnesses subdued growth in consumption
Data from the union steel ministry shows that consumption of finished steel in the country rose a mere 3.9 per cent to 54.8 million tonne (mn t) in Apr-Dec 2012 from 52.7 mn t in the year-ago period. Industry watchers attribute the muted growth in steel consumption to the subdued demand from the end-use
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RIL produces 22.04 mmscmd gas from KG-D6
A report from the Directorate General of Hydrocarbon (DGH) shows that natural gas output from Reliance Industries' KG-D6 field stood at 22.04 million standard cubic meters per day in the week ended December 30, 2012. The output belongs to Dhirubhai-1 and 3 gas fields and MA oil and gas field in the KG-DWN-98/3 or KG-D6 bloc
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Govt launches portability scheme for LPG consumers
Petroleum and Natural Gas Minister M Veerappa Moily informed reporters that the government recently launched a pilot project of portability for LPG connections in Chandigarh. The project is aimed at enabling the customer, who is not satisfied with his present distributor, to shift his connection to another dealer. In 2013-14, the three state-run fuel retailers Ćā IOC, BPCL
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Authorities to set up LPG outlets in rural areas
A Pandian, who is the State-level Coordinator, Oil Industry, Kerala and Lakshadweep informed that by the end of the year, authorities would issue Letters of Intent for setting up rural LPG outlets. In order to promote penetration of LPG cover into Ćālow potential or rural areas, government introduced the rural LPG outlet scheme, known as the Rajiv Gandhi Gramin LPG Vitaratk (RGGLV) in