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
Category: Infrastructure Finance
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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.
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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.
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RBI’s rate cut to boost demand, says Real estate industry
Realty developers and property consultants have hailed the Reserve Bank's decision to cut key policy rates, saying that it is a positive step that would boost housing demand and encourage foreign investment in the sector.
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RBI’s rate cut to boost demand, says Real estate industry
Realty developers and property consultants have hailed the Reserve Bank's decision to cut key policy rates, saying that it is a positive step that would boost housing demand and encourage foreign investment in the sector.
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Private equity firms face challenging times
Industry sources feel that private equity investors in the country are going through a challenging period. It is learnt that the return on investments made after 2006 has not been very encouraging even after about six years. Moreover, funds are finding it tough to exit from portfolio companies in an economy that is experiencing slowdown. This is forcing firms to cut down on expensive hum
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Number of bank loan recast falls in December quarter
The number of cases admitted to the corporate debt restructuring (CDR) cell by banks declined to 24 cases worth Rs 19,650 crore during October-December 2012 compared to 41 cases worth Rs 20,528 crore in the preceding quarter. Industry insiders attribute the decline in CDR cases to the improving economic outlook. With inflation sho
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Indian Bank reduces interest rate on loans
In a company statement, state-run lender Indian Bank said it would reduce base rate by 0.30 per cent to 10.20 per cent from the existing 10.50 per cent, with effect from February 9, 2013. The statement also shows that the bank reduced its Benchmark Prime Lending Rate by 0.25 per cent from the existing 14.75 per cent to 14.50 per cent per annum with effect from February 9,
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SKS Microfinance to focus on profitability
In 2013-14, SKS Microfinance, the first and only listed microfinance institution (MFI) in India, hopes to post profit. MR Rao, Managing Director and Chief Executive Officer of the firm said the focus of the company was on profitable growth with efficiency and not just on scaling up.