Rajiv Lall, Executive Chairman of IDFC informed that the board of the infrastructure finance company decided to go ahead for a banking license. IDFC is an infrastructure financing non-banking financial company (NBFC). According to analysts, NBFCs stand a brighter chance to get a bank license from the Reserve Bank of India (RBI)
Category: Infrastructure Finance
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Net profit of Andhra Bank rises
During Jan-Mar 2013, the net profit of Andhra Bank rose 1.5 per cent to Rs 345 crore compared from Rs 340 crore in the year-ago period. The state-run bank posted 15 per cent growth in total income at Rs 3,713 crore compared to Rs 3,229 crore in the corresponding period last year. While net interest margin was in the range of 3.04 per cent, the bank posted 17 per cent and 18.4 per cent grow
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HSL may get contracts worth Rs 250 bn
Hindusthan Shipyard (HSL), which has been suffering from lack of orders, may get contracts worth Rs 25,000 crore from the central government, Union Minister of State for Defence Jitendra Singh informed. The state-run shipbuilding firm may get the contracts for building war ships, the minister said. Earlier, T Subbarami Reddy, a member of the Rajya Sab
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AP govt takes steps for right of way to metro project
Andhra Pradesh government is taking efforts to give right of way for the elevated Hyderabad Metro Rail project being executed by Larsen and Toubro. The state government is taking steps to shift utilities such as water lines, sewer lines, electrical overhead lines and underground cables, electrical poles, street lights, advertisement boards
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Govt , RBI took steps to boost investment
The Union Budget 2013-14 has outlined several initiatives to boost investment in infrastructure and industry, that inter-alia include encouraging Infrastructure Debt Funds, credit enhancement to infrastructure companies, raising the corpus of Rural Infrastructure Development Fund, introduction of investment allowance for new high value investments etc. Minister of State for Finance, Namo Narain Meena informed this in the Lok Sabha recently
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DIPP clears RBI proposal on FDI
In order to protect the interests of foreign investors, the department of industrial policy and promotion (DIPP) approved the proposal to route the foreign direct investment (FDI) in shares of Indian companies through an escrow account. The proposal was mooted by the Reserve Bank of India (RBI) as it found that some Indian companies, who receive FDI, failed to issue shares till the deadline of 180 days near
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CII recommendations: Issues in infrastructure
In order to make the Indian infrastructure sector viable and capable, the CII has recommended on some key policy issues. The Industry body has sought that these recommended key steps will give a fillip to investment in the sector.
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Cement industry poised for better growth
Growth in cement demand in 2013-14 may improve as the economy is expected to grow faster during the year and also because the governmentĂâs policy initiatives may promote infrastructure sector,
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Turnaround is around the corner
The governmentĂâs sincere attempts to expedite the project clearance of the stalled projects and participation by the private entrepreneurs in PPP projects in infrastructure would lead to enhancement of steel consumption in 2013-14.
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Fee-sharing mechanisms should be encouraged to push takeout finance
Takeout financing should be one of the key channels for financing infrastructure projects, wherein, certain sectors like power do have sector exposure issues with the banking sector,