Following the approval of new norms by the board of the Employees' Provident Fund Organisation, the pension fund may invest part of its Rs 5 trillion corpus in infrastructure debt funds (IDFs). The new norms allow the pension fund body to invest in bonds with tenures up to 25 years and this may enable it to consider IDF
Category: Infrastructure Finance
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CII chief wants RBI to work in tandem with govt to support growth
The newly elected President of Confederation of Indian Industry (CII) Kris Gopalakrishnan said the RBI must work in tandem with the government to boost economic growth. He said the Reserve Bank of India (RBI) must reduce interest rates by at least 100 bps in 2013-14. Steps like early implementation of GST (Goods and Serv
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SBI may plan to merge its associate banks with itself
Pratip Chaudhuri Chairman of State Bank of India (SBI) informed reporters that the capital condition of the bank is favourable for the merger of its associate banks with itself. Without giving a timeline for the merger, he said the bank is now open to merging its associate entities. The move will further enhance its already enormous balance shee
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Liquidity may remain in deficit mode in banking system
Liquidity in the banking system is expected to remain in deficit mode because of factors like currency leakage from the system, high government cash balance with Reserve Bank of India (RBI), experts said. According to some economists, the banking system may face liquidity deficit to the tune of Rs 1.5 trillion till September 2013 compared to Rs 1 trillion at the end of Marc
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Assocham wants RBI to issue licenses in staggered manner
In a note to the Reserve Bank of India (RBI), Assocham said the central bank may consider giving out new bank licences in a staggered manner to few players in a specific time frame given the uncertainties or volatilities associated with current business environment. The note pointed out that the granting of banking license could be a process, and not an event. The indus
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IBEF may get upto $25 mn equity capital from IFC
India Business Excellence Fund IIA (IBEF IIA), which caters to the capital requirement of Small and Medium Enterprises (SMEs), may get upto $25 million funding from the International Finance Corporation (IFC). The proposed investment by IFC may boost further equity funding to capital constrained SMEs looking for growth capital
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GOL Offshore may sell assets to repay loans
Media reports indicate that GOL Offshore may use its unencumbered assets to raise funds for repaying the FCCB, which was due for redemption in October. While the company was to repay the bond holders in October 2012, it sought extension of the repayment period till April, which the bondholders rejected
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Iron ore price expected to be weak
Some industry watchers expect the price of iron ore in the global market to remain weak in the coming months after rising during Jan-Mar 2013. Iron ore price is expected to be weak because of a combination of anticipated lower steel output and continuous supply growth from the major iron ore miners
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Growth in marine-hull insurance segment may slowdown
Weak financial position of shipping companies may slowdown growth in the marine-hull segment of the insurance industry, reports indicate. Marine-hull insurance is purchased by port authorities, shipowners, shipbuilders, oil- and energy-sector companies, bankers and financiers of ships or vessels who have insurable interest
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Govt demands dividend from banks
State-run banks received a directive from the union finance ministry to declare a minimum 20 percent of their capital or net profit, whichever is higher, as dividend for 2012-13. The move by the ministry has not gone down well with these banks, who are already facing strain on their balance sheet owing to the rise in the non performing asse