India's gross domestic product (GDP) grew at a tepid rate of 4.5 per cent during Oct-Dec 2012, data released by government's statistics department shows. The GDP had grown 6 per cent in the year-ago period. During October-December quarter of 2012-13, manufacturing sector grew marginally by 2.5 per cent, against 0.7 per cent growth in the same period of 2011-12. Far
Category: Infrastructure Finance
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PE arm of HDFC may make first closing of realty fund
According to media reports, HDFC Property Fund may make first closing of its fourth real estate fund in March by raising $200 million from institutional and retail investors. The fourth real estate fund was launched late last year with a target size of $500 million and has promised to d
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India Inc’s overseas borrowing rises in January
Data from Reserve Bank of India (RBI) shows that overseas borrowing of Indian companies rose to $3.51 billion in January from $1.15 billion in the previous month. The companies raised the amount through external commercial borrowings (ECB) and foreign currency convertible bonds (FCCB). In order to fund its projects, Power Grid Corporation of In India Inc raised over $ 3.51 billion from overseas markets in January through external commercial borrowings and foreign currency convertible bonds.
I
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Angel expects banking license norms to be a game changer
Angel Broking feels that the final new bank licensing guidelines released by the Reserve Bank of India (RBI) are potentially game-changing for the banking sector. The brokerage firm expects six to eight very serious corporates, with deep-pockets (far more than was earlier being anticipated), may get a banking license
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Maha expects Rs Rs 2,500-Rs 3,000 cr under PMGSY
In Maharashtra, long-neglected roads may soon get a facelift. After rejecting pleas for funds under Pradhan Mantri Gram Sadak Yojana (PMGSY) till last year, arguing the state had 100 per cent connectivity, the Centre has finally accepted its demand for funds to improve condition of roads in rural areas.
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Govt gives concessions to MROs
The Union Budget offered minor concessions to the MRO - maintenance, repair and overhaul industry as the government has increased the time period for consumption or installation of parts and testing equipments imported for maintenance, repair and MRO of aircrafts by units engaged in such activities form the existing three months to a year.
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Bad loans of banks rises
According to the Economic Survey 2012-13, overall non-performing assets (NPAs) of the banking sector rose from 2.36 per cent of total credit in March 2011 to 3.57 per cent in September 2012. Slowdown and the high leverage levels have caused loans to a few industry and infrastructure sectors turning NPAs, the survey notes. Sectors particularly under
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S&P expects improvement in bank performance in FY15
Ratings agency Standard & PoorÂ’s (S&P) expects the performance of Indian banks to improve only in 2014-15. The agency feels that till then the banking sector would continue to face hurdles, in terms of asset quality and earnings. In 2013-14, the agency expects improvement in the economic growth and corporate performance aided by vario
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Banks may find it difficult to raise non-equity core capital
Crisil Ratings President Ramraj Pai opined that banks may find it difficult to raise Rs 1.4 trillion worth of non-equity-based tier-I capital, as mandated by Basel III norms, because of complexity involved in these debt instruments. According to Basel III norms, banks will have to raise
1.3 trillion as equity capital and up to Rs 1.4 trillion as non-equity tier-I capital
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Kerala govt rues inadequate allocation for Vizhinjam project
Some ministers of the Kerala government expressed dissatisfaction over the inadequate allocation of funds for the Vizhinjam port in the union budget 2013-14. There is a big setback for Kerala as the Vizhinjam project has been ignored in the budget, whereas Tuticorin port in Tamil Nadu has been earmarked a substantial outla