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
Category: Infrastructure Finance
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B’lore needs funds for 25-km elevated road
The Bangalore Development Authority (BDA)?has decided not to take up the proposed ‘golden quadrilateral’ project to construct 25-kilometres of elevated road in the city under the Public-Private Partnership (PPP)?model as planned earlier.
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Domestic firms raise funds via overseas bonds
So far in 2013, Indian companies raised $4 billion by issuing bonds in the international market in order to take advantage of lower interest rate compared with the domestic bond market. According analysts, India Inc may continue to tap the overseas bond market in order to meet their funding requ
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Bank credit rises faster than deposit
Bank credit rose Rs 103,318 crore during January 1 to February 22, more than deposit growth of Rs 88,062 crore, data from Reserve Bank of India (RBI) shows. The incremental credit-deposit ratio is at 117 per cent, clearly pointing to the pressure in the banking system to garner resources. During the fortnight ending February 22, bank credit grew Rs 26,200 crore, while deposits declined Rs 9,200 crore
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Grameen Koota receives equity funding of Rs 53.20 cr
Investment management firm Creation Investments, along with some other firms, provided equity capital of Rs 53.20 crore to the Bangalore-based microfinance institute Grameen Financial Services, popularly known as Grameen Koota. Other firms that provided the funding include specialised fund management company Incofin and social venture capital fund
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Goa exported Rs 610 bn ore in 3 years
Union Mines Minister Dinsha Patel informed Parliament that over the last 3 years, iron ore worth over Rs 61,000 crore was exported from Goa. Giving year-wise break-up of iron ore export from the state, the minister said in 2009 to 2010 Rs 22,809 crore worth ore was exported from Goa, in 2010 to 2012 it wa
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Blore’s high-end villa rentals come down
In Bangalore, rentals of high-end villas have dropped over the past year, as leasing deals from the expat community have almost halved and supply of units has increased. Data shared by multiple global real estate consultants and city-based brokers show that rentals for high-end villas have fallen between 25 per cent and 30 per cent in the last one year.
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Institutions struggle to raise funds via tax-free bonds
Reports indicate that institutions that are allowed to raise tax-free bonds in 2012-13 could mop up only Rs 25,000 crore as against the permission to raise Rs 60,000 crore. It is learnt that investors are not showing much interest in the tax-free bonds as interest rates are expected to fall further in the coming months. Yield on tax-free bonds are set below the yield of the 10-year ben
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Govt’s fiscal moves may influence RBI rate decision
In an interview to a news agency, Finance Minister P Chidambaram remarked that Reserve Bank of India (RBI) would take a decision on reducing policy rate after taking into consideration the fiscal moves of government. On March 19, the central bank would release mid-quarter review of monetary policy. Shifting its focus from infla
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Shriram Group mulls foray into banking business
With the Reserve Bank of India (RBI) releasing guidelines for new bank licenses, a slew of industry conglomerates are interested to make a foray into banking business. One among them is the Chennai-based Shriram Group, promoted by R Thyagarajan. The group, which is one of the contenders for a banking licence, said it want