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.
Category: Infrastructure Finance
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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
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We need more specialised infrastructure funding institutions
We would like to continue infrastructure lending by cherry-picking good and viable projects promoted by parties with proven track records, says HS Upendra Kamath, Chairman and Managing Director, Vijaya Bank
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The urban expert
RK Jha is the Director of Gujarat International Finance Tec-City Co (GIFT), a joint venture of Government of Gujarat and IL&FS, has over 44 years of professional experience in planning, design, project development, execution (including financing),
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Budget: mixed impact on O&G sector
Industry watchers feel that the Budget 2013-14 may have a mixed impact on the oil and gas sector. While the Finance Minister announced that his government would soon release shale gas policy and review the pricing of natural gas, industry players are
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Budget provides 15% allowance for over Rs 100 cr investment
The Budget 2013-14 provides 15 per cent investment allowance on investment of more than Rs 100 crore in plant and machinery. Concessional rate of tax of 15 per cent on dividend received from its foreign subsidiary by a company continued for one more year.
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PFC plans banking business
With the Reserve Bank of India (RBI) releasing guidelines for new bank licences, Power Finance Corporation (PFC) plans to apply for a license to launch banking operation.
Satnam Singh, Chairman and Managing Director of the power sector lender said his firm