The central government is taking a slew of measures to promote foreign direct investment in Indian companies and thereby improve capital flows into the country. As part of this effort, the Department of Industrial Policy and Promotion (DIPP) would soon move a Cabinet note to amend the FDI policy to bring more clarity on the definition of ‘control’ in sync with that in the C
Category: Infrastructure Finance
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Tata Steel’s 6 mn tpa project may be operationally beneficial
According to analysts, the proposed 6 mn tpa (million tonnes per annum) steel plant by Tata Steel in Odisha would be operationally beneficial for the company. This is because the proposed plant would have captive iron ore reserves, efficient logistical infrastructure reducing costs and technologically efficient plan
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India discusses investment opportunities with Kuwait
During a recent meeting with a visiting team of dignitaries from Kuwait, the Indian government discussed opportunities for Kuwaiti investment in refineries in India. Kuwaiti Minister Shaikh Nasser Sabah Al-Ahmed Al-Jaber Al-Sabah held talks with External Affairs Minister Salman Khurshid on various bilateral issues including ways to ex
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Govt’s fuel subsidy benefits only the rich
A top International Monetary Fund (IMF) official said the spending of the Indian government on fuel subsidy is mainly benefiting the rich and not the poor. Laura Papi, Assistant Director, Asia and Pacific Department at the fund said it would take 1/10th of the current expenditure on subsidy to benefit the bottom 40 per cent of the population
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Bank credit grows slower in January
Data from the Reserve Bank of India (RBI) shows that bank credit to industry expanded at a slower pace of 15.2 percent in January compared to 20.2 percent in the year-ago month. Credit to the services sector increased 12 percent in January compared to 15.1 percent in the year-ago month. The RBI data shows that non-food credit expanded 14.6 percent in January, slower than 15.9 percent a year ago.
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Kotak mops up $90 mn to invest in infrastructure sector
According to an official statement, Kotak Mahindra Bank raised about $90 million in order to invest in companies engaged in industries like power generation and transmission, transportation. The amount, which is raised under the Core Infrastructure India Fund, would also be invested in water treatment and supply, waste management and gas transmission in
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Global funds chase India’s highway sector
Global fund managers like Morgan Stanley, SBI Macquarie Infrastructure Fund, Uniquest Infra Ventures are showing interest to invest in the country's road sector following the positive policy gestures. The National Highways Authority of India (NHAI) is urging government to allow developers to offload equity as soon as a project is completed. The change is being push
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Global funds chase India’s highway sector
Global fund managers like Morgan Stanley, SBI Macquarie Infrastructure Fund, Uniquest Infra Ventures are showing interest to invest in the country's road sector following the positive policy gestures. The National Highways Authority of India (NHAI) is urging government to allow developers to offload equity as soon as a project is completed. The change is being push
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Joshi wants electronic tolls on all h’ways by March 2014
Union Minister of Road Transport and Highways CP Joshi has stressed on the need to migrate to electronic toll collection (ETC) and it should be done by March next year. As complaints against toll payments mount, pressure is rising on the government to hold highway developers responsible for providing basic service-level agreements, he added.
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RBI to clarify on new bank licence guidelines
In a notification, the Reserve Bank of India (RBI) informed that it would issue clarification on the final guidelines for new bank licences in response to queries raised by intending applicants. It may be noted that the central bank has been receiving queries from applicants seeking clarifications on the guidelines on licensing of new banks in the private sector