The Central Road Research Institute (CRRI) in Delhi has imparted 'tough terrain road-building technology' to the engineers of the Pune Municipal Corporation (PMC) on PMC's road department on June 5. Researchers from CRRI, who visited Pune, said that this technology is used in the northeast and Kashmir. The same technology will be used in Pune city to put an end to the pothole issues.
Author: admin (Infratructure Today)
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Govt forms group to monitor stalled projects
Rajiv Takru, Secretary, Financial Services department of the union finance ministry informed that the government formed a special group headed by an officer in the Cabinet Secretariat to monitor each of the stalled projects. He exuded confidence that the economy will recover from the current slowdown in the next three-six months. Owing to reasons like administrative delays, lack of environment clearances, 215 projects are stalled at vario
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SCI to assist GAIL India ferry LNG from US
Shipping of Corporation India (SCI) agreed to assist GAIL (India) in the charter hiring of LNG ships for transportation of 5.8 million tonne per annum of LNG. GAIL entered into a memorandum of understanding (MoU) with SCI to transport the 5.8 mn t LNG per annum from Sabine Pass and Cove Point terminals in the US
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Six new airports to come up in Rajasthan
In Rajasthan, as many as half-a-dozen new airports are either proposed or nearing completion. As such you can skip the tiresome journey to popular tourist and business towns in the state and opt for a flight, instead. The Airport Authority of India (AAI) has stated that its plans to open an airport at Sawai Madhopur, home to the big cats. A team of AAI will visit Sawai Madhopur to find the possibilities of flight operation from this part of the state.
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L&T Finance may not be able to set up NOFHC
L&T Finance Holdings, which aspires to set up a banking business, may not be able to set up a non-operative financial holding company (NOFHC) as mandated by the Reserve Bank of India (RBI) because its public shareholding is below 51 per cent. According to the clarification issued by the central bank on new bank license norms, private players aspiring to enter the banking space need to create a NOF
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NPAs of state-run banks rise in FY13
Owing to high interest rate and slowdown in the economy, non performing assets (NPAs) with the public sector banks (PSBs) rose about 90 basis points year-on-year during 2012-13. However, their peers in the private sector managed to avoid rise in NPAs because of better risk management and low exposure to risky
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EXIM bank okays loan for 3 Nepal hydel projects
Export-Import Bank of India (EXIM Bank of India) has approved a soft loan support to Nepal for the development of three hydro projects. The loan worth is $155 million. The Bank approved projects are: Rahughat Hydropower Project, Koshi Corridor Transmission Line Project and Solu Corridor Transmission Line Project. Nepal's Ministry of Finance (MoF) received a formal letter from the bank on June 3.
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Norms for gold imports tightened further
By imposing restrictions on the agencies concerned the Reserve Bank of India (RBI) has further tightened the norms for import of gold. The Central bank has said these entities can import gold on a consignment basis only to meet genuine needs of gold jewellery exporters. Industry experts said the measures announced on June 4 would dampen gold imports, which might come down by 100-120 tonne during the current financial year.
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Experts call for banking operation in unbanked areas
Experts feel that the initiative of the Reserve Bank of India (RBI) to provide new banking licenses must promote banking in the under-banked areas of the country. They feel that residents in the under-banked areas are, for the most part, dependent on shadow-banking operators because of the formal banking sector's failure to give them access
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SBI to take Rs 2 bn hit due to provisioning norms
Pratip Chaudhuri, Chairman of State Bank of India (SBI) informed that the total impact of Reserve Bank of India (RBI)Â’s revised norms on provisioning for non-performing assets (NPAs) and restructured loans would be about Rs 200 crore a year. He said this would be less than 1 per cent on a PBT (profit before tax) basis and hence it may not have a significant impact on SBIÂ’s profitability