Once the proposed Civil Aviation Authority (CAA) is constituted, one of the first things it is to do is to recruit people at market rates for use in regulatory purposes. Director General of Civil Aviation Arun Mishra said the CAA should begin functioning towards the latter half of the year with initial support from the Finance Ministry and thereafter through fees collected from airlines operators that is currently deposited into the Consolidated Fund of India.
Category: Infrastructure Finance
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Plan panel clears Rs 5.48 tn outlay for railways in 12th plan
The Planning Commission approved an outlay of Rs 5.19 lakh crore for Indian Railways in the Twelfth Five Year Plan (2012-2017). It may be noted that the railway ministry proposed an outlay of Rs 5.48 lakh crore. This information was given by the Minister of State for Railways Adhir Ranjan Chowdhury in Rajya Sabha. The total outlay cleared by the commission includes
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World Bank chief welcomes idea of BRICS bank
World Bank President Jim Young Kim welcomed the idea of setting up a bank collectively by Brazil, Russia, India, China and South Africa or BRICS countries in order to fund their infrastructure projects. He said every single BRICS country has an enormous infrastructure deficit that simply can't be met by a single institution, certainly not the World Bank in and of itself
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L&T arm to raise $500 mn infra debt fund
In order to invest in distressed assets, particularly in the roads segment, L&T Infrastructure Finance plans to mop up $500-million ( Rs 2,708 crore) by floating its maiden debt fund. Media reports indicate that the fund would also invest in renewable energy, power and urban infrastructure projects
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Banks bet big on retail credit
With credit flow to corporate sector remaining weak, banks are betting big on advances to the retail sector. Banks expect that advances to retail customers would support credit growth in 2013-14 like the previous year. That is because demand for credit from the corporate sector is weak. Although some banks are confident that credit flow to corporate sector would improve eventually, for the time
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Govt may relax norms for low-cost housing, infra
To enable Indian companies access cheaper funds abroad, the Union government might further ease the norms for raising funds through the external commercial borrowing (ECB) window, particularly for low-cost housing and infrastructure sectors like telecom and ports.
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IIFL gets Rs 628 crore commitment for AIF
The IIFL Income Opportunities Fund of the diversified financial company India Infoline received commitment of Rs 628 crore. The IIFL Income Opportunities Fund is an alternate investment fund (AIF) of the company and according to the company press release it is the country's largest AIF fund raising till
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RBI has not received any application for banking license
Union Minister of State for Finance Namo Narain Meena informed Rajya Sabha that as on date no application for licence under the new banking guidelines was received and no licence has been granted under these new guidelines. On February 22, the central bank released ‘Guidelines for Licensing of New Banks in Private Sector’ to promote financial inclusion and further infuse comp
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Global investors expect rupee to strengthen
Some international investors feel that the Indian rupee may appreciate against dollar in the coming months helped by the fall in domestic inflation and possible improvement in the current account deficit. Investment analysts expect current account deficit to improve on the back of benign commodity prices in the in
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Govt told to encourage retail participation in disinvestment
A Parliamentary panel has asked the government to promote retail participation instead of selling shares of PSUs to institutions through the Offer For Sale (OFS) route. The panel is unhappy with the present disinvestment procedure. The panel is not in favour of 'Offer for Sale' of shares route by promoters through Stock Exchange Mechanism, instead the government should look for market penetration and encourage retail investors.