To install 15,000 White-Label ATMs (WLAs) across India, private sector lender Federal Bank has tied up with Tata Communications, the Bank said on June 24. White-Label ATMs are to be set up by non-banking entities on behalf of 'sponsor banks' but they would not carry the brand label of any bank, and would be accessible to card-holders of all the banks for a fee.
Author: admin (Infratructure Today)
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DIPP to consult ministries on FDI hike proposal
Department of Industrial Policy and Promotion (DIPP) will consult with different central government ministries separately on the proposal to raise the foreign direct investment limit in different sectors. It may be recalled that the Mayaram Committee recommended raising FDI limit in almost all sectors to 49 per cent through the automatic
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Prudential norms for housing finance firms may be relaxed
RV Verma, Chairman and Managing Director of National Housing Bank (NHB) has informed a leading media that the body would relax prudential norms for housing finance companies (HFCs). NHB plans to relax prudential norms for housing finance companies following Reserve Bank of India's (RBI) decision to reduce risk weight on banks' home loan over Rs 2
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RBI relaxes ECB norms for residential developers
Developers and builders who have at least three years' experience in implementing residential projects may avail external commercial borrowing (ECB) for low-cost affordable housing projects. Reserve Bank of India (RBI) reduced the number of years of experience from the existing five years to three years in order to enable more developers to access ECB route
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Uttarakhand crisis presents opportunity for infra and construction firms
While the government is still assessing the funding requirement for restoring the basic infrastructure like roads and bridges in the flood-hit Uttarakhand, some reports suggest an upward of Rs 10,000 crore may be needed. The worst-affected districts of Rudraprayag, Chamoli, Uttarkashi and Pithoragarh may need at least Rs 10,000 crore for reconstruction of damaged roads and brid
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Uttarakhand hydel projects in troubled waters
The massive flood in Uttarakhand has not only affected the lives of common men in the state, but also the business of several companies. For example, companies that are setting up various projects in the state are facing tremendous risk. Companies like L&T Hydro, Lanco Group and UJVN, that are setting up a series of hydel projects in the Rudraprayag area, may be badly affected
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India, Hungary firm tie-up for a joint gas monitoring system
For a gas monitoring system, Gujarat Info Petro has signed an agreement with Cason Engineering Plc, Hungary, in pursuant to the already signed MoU during the Vibrant Gujarat Summit-2013. Gujarat Info Petro is a subsidiary of Gujarat State Petroleum Corporation.
The agreement was signed by VK Sharma, CEO, Gujarat Info, and Ferenc SzakĂÂĄcs, Chairman and CEO of Cason, according to a release issued in Gandhinagar.
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Adani to start coal terminal at Mormugao Port
Adani Ports and SEZ is planning to commission a coal handling terminal of about 5 million tonne capacity at the Mormugao Port in Goa by this fiscal. The coal handling terminal project, won by the Adani group firm in 2009, is delayed by about 2 years as it was originally planned to be commissioned during 2011 to 12 itself. APSEZ has the permission to operate the coal handling berth till May 15th 2040, the company said in a prospectus for a recently completed fund raising exercise. It said that th
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Moily moots Mangalore-Chennai corrodor via Blore
The Union Minister of Petroleum and Natural Gas Marpadi Veerappa Moily has taken initiative to speed up work on the Mangalore Special Economic Zone (MSEZ). There are complaints that the work on MSEZ was delayed due to improper road connectivity. A meeting should be held with the residents residing in the areas and the problems need to be solved within ten days, said Moily.
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Bihar to build 552 km Indo-Nepal border road at 3,547 cr
In Bihar, an Indo-Nepal border road of 552 km will be constructed and the foundation stone to the road work was scheduled to lay by Union Home Minister Sushil Kumar Shinde at Gairya Chowk, Saraigarh, in Supaul district on June 25.