The Reserve Bank of India has stated on November 20 that banks need not seek permission from it to open administrative offices in large cities (Tier-I).
Author: admin (Infratructure Today)
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Chidambaram predicts high growth in a year or two
Indian economy will be back in high-growth trajectory in a couple of years, Union Finance Minister P Chidambaram expressed confidence on November 20.
He said that there was no scope for gloom or despair.
Chidambaram said that the world economy slowed down in 2008 and the crisis continues and it is not clear if it would pick up in 2013.
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RBI tells banks to restrict financing of gold purchases
The Reserve Bank of India has asked banks in the country to restrict financing of purchases of gold in the form of bullion, jewellery and coins or units of exchange traded funds, in the latest of the measure to restrict gold imports to counter ballooning fiscal deficit.
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BP Plc’s plea for market price for natural gas
Europe's second-biggest oil company, BP Plc has demanded a market price for natural gas to enable immediate development of a huge 10 Trillion cubic feet of discoveries to help unlock up to 100-150 billion value.
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TN plans to construct Rs 1,420 cr Chennai Peripheral Road
The Tamil Nadu Highways Department will shortly call for consultants to prepare a Detailed Project Report (DPR) for the Rs 1,420 crore Chennai Peripheral Road project.
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Ministry allows Adani, Essar to bid for terminal project
Weekly Insight learns from top government sources that Adani Ports and Essar Ports received approval from the union home ministry to participate in the 4,000-crore mega container terminal project in Chennai Port.Chennai Port plans to set up a mega container terminal, with a capacity of 4 million TEU (Twenty foot-equivalent units). The proposed terminal has been envisaged as the large
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Ministry mulls steps to develop corporate bond mkt
In order to develop a vibrant corporate bond market, the union finance ministry is reportedly planning some steps in collaboration with Reserve Bank of India (RBI) and the ministry of corporate affairs (MCA). Media reports suggest that the ministry plans to give statutory liquidity ratio (SLR) status to corporate bonds in order to encourage banks to
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Maldivian Airlines, Apollo tie-up to benefit mutually
To benefit mutually Maldivian Airlines and the Chennai-headquartered Apollo Hospitals have got into an agreement to give discounts to each othersĆ¢ā¬ā¢ clients. For example, Apollo Hospitals will give a discount on its service charges for those who fly the airline, and the airline will give similar discounts to the hospitalĆ¢ā¬ā¢s patients on the airfare.
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Air India to repay part of debt by raising funds
In order to reduce its interest outgo on the current dues, Air India plans to repay some of its debt that carry high interest rate. As part of this initiative, the airline plans to borrow Rs 900 crore from banks through issue of bonds. The amount would be used to repay a part of its debt. Air India is said to owe around Rs
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Air India’s hangar functioning reviewed
The Joint Secretary of Union Civil Aviation G Ashok Kumar visited the Air India maintenance, repair and overall (MRO) facility at the Trivandrum International Airport on November 19 to review the functioning of the recently installed facility.