Experts suggest the Karnataka government to set up satellite towns around Bengaluru and provide commuter rail connectivity to these towns in order to de-congest the IT city. According to experts, it is only the development of suburban towns around Bengaluru and provision of a rail network which can reduce population concentration in the main
Author: admin (Infratructure Today)
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SpiceJet phases out expats on rupee falling
By phasing out expat pilots, SpiceJet is planning to save Rs 90 crore per annum. Foreign pilots employed by Indian airlines are paid in dollors. Not jut, SpiceJet, the falling rupee has made airlines in India to act in an area where they have dragged their feet for years - phasing out expat pilots. Now the low cost carrier SpiceJet has brought down its number of expat pilots, all of whom are commanders, from over 100 a year ago to just 25 now.
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Srinagar airport gets nod for operation of night flights
Union Defence Ministry has given clearance for operation of civilian flights at the airport in Srinagar till 10 pm daily, paving way for extended air operations between Kashmir and rest of the country. In a letter to Union Rural Development Minister Jairam Ramesh last week, Defence Minister A K Antony had said Air headquarters has already issued instructions to extend watch hours for civil flights at Srinagar till 2200 hours on daily basis.
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Tata Capital gets Azim Premji’s investment
Azim Premji has invested Rs 75 crore in Tata Capital. The investment was made into non-voting preference shares of the company through PremjiĆās private investment arm PremjiInvest and the Azim Premji Trust. Azim Hasham Premji and Azim Premji Trust jointly own 24.2 per cent of the preference shares of Tata Capital as on March 31.
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Himachal to get 800 new rural banks by 2016
Under a comprehensive Financial Inclusion Plan, the
Himachal Pradesh government proposes to open about 800 new bank branches in rural belts and remote corners of the State by 2016. The State Chief Secretary Sudripta Roy said banks will provide fresh loans amounting to Rs 11,548 crore during the current financial year in Himachal Pradesh. In the last financial year, a record number of 31 new branches were opened during the last quarter till March, 2013 out of which 25 were located in rural areas
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Punj Lloyd to convert part of rupee loan into dollar
In order to align its business operation, engineering major Punj Lloyd plans to convert part of its rupee debt into dollar debt. Profitability of the firm took a hit because of the mismatch between the interest payment on debt (which is mostly in rupees) and revenue (which is mostly in dollar). While the company derives 65-70 per cent of its business from abroad, its 65-70 per cent of debt is in rupe
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Minister clarifies on RBI steps to contain rupee weakness
Finance Minister P Chidambaram clarified that the recent measures of Reserve Bank of India (RBI) to contain depreciation of rupee has nothing to do with upcoming monetary policy review on July 30. The central bank would release the first quarter monetary policy review 2013-14 on July 30. His clarification comes after analysts interpreted the RBI's recent move to raise interest rate on loan throu
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Economic growth may take a hit from RBI steps; experts
Several brokerages and economists expect the Indian economy to grow at a lower pace in 2013-14 than what was anticipated earlier because of the recent measures by Reserve Bank of India (RBI) to combat depreciation of rupee. Economists and brokerages feel that RBI's recent measures to control rupee weakness may impede growth
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Group to discuss Rs 1 trillion worth infra projects
The Steering Group, headed by the Principal Secretary to the Prime Minister, would hold its maiden meeting on July 19, 2013. During the meeting, the group would discuss the preparation and award of key infrastructure projects with an estimated cost of Rs 1 lakh crore. These projects include- Mumbai Elevated Rail Corridor Project, two locomotive projects, accelerating Eastern Dedicated Freight Corridor, an expressway proj
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Tata firms in West Bengal to expand
In West Bengal, Tata Group is on an expansion mode after the Singur debacle. Tata Group Chairman Cyrus Mistry could be right in saying the Tatas have never left West Bengal. The group's major investments in Bengal are from Tata Metaliks, Tata Consultancy Services (TCS), Indian Hotels and Tata Hitachi. At the moment, TCS, Indian Hotels and Tata Hitachi are in an expansion mode, sources said.