The Indian government is mulling various steps to prevent further depreciation of rupee against the dollar. One of the steps considered by the government is to ask financially strong state-run companies to raise debt from overseas investors. According to one estimate, state-run companies could raise $25-30 billion of capital through issue of bond
Author: admin (Infratructure Today)
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Govt mulls overseas debt issuance by PSUs
The Indian government is mulling various steps to prevent further depreciation of rupee against the dollar. One of the steps considered by the government is to ask financially strong state-run companies to raise debt from overseas investors. According to one estimate, state-run companies could raise $25-30 billion of capital through issue of bond
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Central Bank of India to add 23 branches in coastal AP
During the current financial year, the Central Bank of India is to add 23 more branches in the coastal Andhra Pradesh, said Balakrishnan, the bank Field General Manager in charge of Karnataka and Andhra Pradesh. He added that the bank was competing with the new generation private banks in providing services to customers. Balakrishnan said this in Visakhapatnam on August 7 after opening the bankĆās 75th retail asset branch in the country.
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Govt to seek Parliament nod for Mahila Bank
To set up a women's bank, Bharatiya Bhartiya Mahila Bank, the Union government will seek the Parliament's consent for allocation of Rs 1,000 crore, the government said. The Centre has finalised the proposal to start Bhartiya Mahila Bank with 6 branches, one each in North, South, West, Central and North Eastern part of the country. The government wants to set up the bank with an initial capital of Rs 1,000 crore.
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Natural gas price hike to make CNG, urea costly
CNG (compressed natural gas) price would rise Rs 8.2 to 11.72 per kg in Delhi and Mumbai once the revised natural gas price comes into effect from April 2014, Minister of state for petroleum Panabaaka Lakshmi informed Parliament. CNG costs Rs 41.90 per kg in Delhi, and Rs 35.95/kg in Mumbai. The CNG price would rise by this amount assuming that the city gas distribution entity is operating entirely on dom
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IOC to import less oil from Iran
Petroleum Minister M Veerappa Moily informed in Rajya Sabha that Indian Oil Corp (IOC) agreed to import 1.2 million tonne crude oil from Iran in 2013-14 compared to 1.566 million tonne in the previous year. This represents a fall of over 23 per cent in crude oil import by IOC from the Persian Gulf nation. During April-June 2013, the firm imported 0.577 million tonne of oil from Iran. It may be noted that IOC is India's third
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Krishnapatnam Port holds talks with PEs to offload stake
Media reports indicate that Krishnapatnam Port Company is holding discussion with some private equity funds to offload 6 percent stake and thereby mop up Rs 1,200 cr. The company wants to raise capital in order to expand the capacity of the port to 75 mn tonne from the current 50 mn tonne. It has plans to ramp up capacities to 100
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Govt preparing study on Delhi-Jaipur Expressway project
The government has is preparing the feasibility study for Delhi-Jaipur Expressway project. It will be too early to state about likely time of completion at this stage. This was stated by Sarvey Sathyanarayana, the Minister of State in the Ministry of Road Transport and Highways in response to a written question in Lok Sabha
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Minister examines progress of road projects at Guwahati
Vijay Chhibber, Secretary, Road Transport & Highways held a meeting at Guwahati on August 1, 2013 with the officers representing various agencies in the Region, viz. the state PWDs, BRO (Border Roads Organisation) and NHAI (National Highways Authority of India) to review the road projects in North East region. This was in line with the focused approach of the government towards improving the road infrastructure in partic
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Kozhikode Corporation gets Rs 54 lakh for road repairs
The Kozhikode Corporation has been granted Rs 54 lakh by the Kerala government for immediate repair and restoration of roads within the Corporation purview and rural limits of the district. The government on July 23 had allotted the sum in two orders to repair eight roads in the Kozhikode Corporation area and five in high-range areas of Thiruvambady, Koodaranji, Karassery, Kodiyathoor and Puthupadi within the district.