Bankers urged the Reserve Bank of India (RBI) to reduce the cash reserve ratio (CRR) by 50 basis points in its Annual Policy on May 3. Bankers want the central bank to reduce CRR as such a move would release cash into the system and ease liquidity pressure. CRR is the portion of deposits that banks have to set aside
Category: Infrastructure Finance
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RBI to circulate paper on FDI, FII classification
The Reserve Bank of India (RBI) would circulate a discussion paper within the next 15-20 days on the classification of foreign direct investment (FDI) and foreign institutional investment (FII) into the country. In his Budget speech, Union Finance Minister P Chidambaram had proposed to follow the international practice with regard to defining FDI and FII
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Ministry to meet banks, firms to address stalled projects
It is learnt that the union finance ministry would hold meeting with banks and companies to address the issue of stalled projects. Data available with the finance ministry shows that 215 projects, each with value of Rs 250 crore or more, have been identified as stalled. These projects are mostly financed by
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Carlyle Group to expand presence in India
US private equity fund (PE) Carlyle Group plans to expand its presence in India and is looking at innovative ways to deepen its India focus, Edward Mathias, Managing Director and a board member of the group, said. As part of this plan, the PE investor would set up a non-banking finance company (NBFC) lend to Indian corporates. The PE fund also plans to raise a fund in India in order to invest across sectors, including retail, defence and i
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Bank credit grows 14.12%
Credit growth in the banking sector stood at 14.12 percent as of March 22 on a year-on-year (yoy) basis compared to the Reserve Bank of India (RBI)'s target of 16 percent for 2012-13. Similarly, bank deposits expanded 14.26 percent as of March 22 on a yoy basis, compared to the central bank's comfort level of 15 percent
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Indian firms keen to raise funds from global mkt
Analysts opine that many Indian companies are interested to refinance their rupee debt by raising funds in the global market at a lower interest rates as compared to the domestic rates. Given the flexible terms and low rates, investors and fund managers are reportedly exploring the cheaper US lo
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Suryoday may get $11 mn capital infusion from IFC
Pune-based micro finance institution Suryoday Microfinance may get $11 million funding from the International Finance Corporation (IFC) in order to expand its operations. The private sector investment arm of the World Bank considers to infuse the capital in the microfinance firm through external commercial borrowing (ECB) route in the form of quasi-equity and senior
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SKS gets Rs 31 bn funding inflow in FY13
The total incremental funding inflow received by SKS Microfinance in 2012-13 more than doubled to Rs 3,150 crore from Rs 1,434 core in 2011-12. The funding inflow in 2012-13 includes Rs 1,207 crore received through 12 securitisation transactions with seven funding partners, an incremental debt of Rs 1,68
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Maharashtra govt to clear metro project for Pune
Maharashtra Chief Minister Prithviraj Chavan informed the state legislature that his cabinet would clear the metro project for Pune this month and send a report on the project to the union government for final approval by the end of this month. Once the central government approves the project, the state government may sanction funds. It may be recalled that state government agreed to provide funds for t
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Andhra rail projects need Rs 400 bn investment
About 30 railway projects are pending in Andhra Pradesh and these would require about Rs 40,000 crore investment, Union Minister of state for railways Kotla Jaya Surya Prakash Reddy informed. He said these projects would be completed in a phased manner. He supported the hike in fares by saying that internal resources should be improved to strengthen the financial condition of the