Finance Ministers of all the states in the country would meet Union Finance Minister P Chidambaram on February 14 in New Delhi to discuss the framework of the goods and services tax (GST). During the meeting, Chidambaram is expected to seek the nod of the state finance ministers on the framework of GST so that a broad outline of the indirect tax
Category: Infrastructure Finance
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Minister suggests lenders to offload loans to IDF
Banks must hand over their loan for infrastructure projects to Infrastructure Debt Funds (IDFs) once the projects are completed so that banks can get funds to lend to fresh projects. Finance Minister P Chidambaram suggested this to banks recently. IDF provides long term finance through the lif
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State-run banks may get around Rs 200 bn from govt
Media reports suggest that the government may infuse around Rs 20,000 crore into state-run banks in 2013-14 so that they comply with the capital adequacy conditions of Basel III norms. It is learnt that public sector banks (PSBs) have demanded the above amount for the next financial year from
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Equipment makers see early revival of infra sector
As the Union government has recently taken policy initiative and the Reserve Bank of India (RBI) reduced interest rate, there are early signs of revival in the infrastructure sector, says the Indian Construction Equipment Manufacturers' Association.
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IRB allowed to receive 49% investment from FIIs
Road project developer IRB Infrastructure Developers received approval from the Reserve Bank of India (RBI)
to receive up to 49 per cent of its paid up capital as investment from Foreign Institutional Investors (FIIs). This would allow FIIs to raise their investment in the company's equity shares and convertible debentures unde
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IRB allowed to receive 49% investment from FIIs
Road project developer IRB Infrastructure Developers received approval from the Reserve Bank of India (RBI)
to receive up to 49 per cent of its paid up capital as investment from Foreign Institutional Investors (FIIs). This would allow FIIs to raise their investment in the company's equity shares and convertible debentures unde
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Bond issues may rise in coming days
Media reports suggest that the number of manufacturing companies issuing bonds in the local market may rise in the coming days. Industry sources feel that companies are waiting for yields on corporate
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Shell denies charges of miscalculation of share price
Shell India denied charges leveled by the union government against the company on tax evasion and said it is evaluating all options to challenge the recent order of the government. Recently, the central tax authorities issued a notice to the firm claiming Rs $2.7 bn on alleged mispricing of share
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Delhi CM seeks cabinet proposal for funding mono rail project
Delhi Chief Minister Sheila Dikshit directed transport department to bring a cabinet proposal to fund the proposed Rs 2,235 crore monorail project on the lines of the Delhi Metro Rail project. The move by the minister follows the detailed presentation given by Mangu Singh, Chief of DMRC on the fi
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Maken’s plea to RBI to revamp affordable housing loans
Ajay Maken, the Union Minister of Housing and Poverty Alleviation has made an appeal to the Reserve Bank of India (RBI) for restructuring of loans for affordable housing in case the project is delayed due to extraneous reasons beyond the control of the developer. The Union Finance Minister P Chidambaram has also joined Maken to make the appeal to the RBI.