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,
Category: Infrastructure Finance
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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.
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ADB plans to lend $10 bn to public sector
Reports suggest that Asian Development Bank (ADB), the Manila-based multilateral development bank, plans to lend around $10 billion to the Indian public sector between 2012-2017 and $2 billion to the private sector in this period. It is also learnt that the bank is holding talks with the central government on its country strategy paper for India
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Experts call for novel funding model for infra sector
Experts suggest government to come out with innovative financing model for funding infrastructure sector during the 2012-13 union budget. Two years ago, the government introduced infrastructure debt fund (IDF) for channelising long term fund into the sector. IDF may be set up as mutual fund under the trust model or as
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Minister calls for revision of land use norms
Union Minister for Housing Ajay Maken stressed on the need to revise the floor surface index and land use norms in large cities, which do not have adequate open land for housing needs. He pointed that the centre cannot give any directive to the state governments in the matter of FSI and land use norms, but in the New Delhi master plan, whic
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GAIL may not concede right of first refusal
GAIL India, which is one of the promoter shareholder of Petronet, refuses to concede its right of first refusal on the 5.2 percent stake of Asian Development Bank (ADB) in Petronet. The multilateral lending agency plans to sell its 5.2 per cent stake in Petronet, which has been formed as a joint venture by the Government with non-public sector cha
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GAIL may not concede right of first refusal
GAIL India, which is one of the promoter shareholder of Petronet, refuses to concede its right of first refusal on the 5.2 percent stake of Asian Development Bank (ADB) in Petronet. The multilateral lending agency plans to sell its 5.2 per cent stake in Petronet, which has been formed as a joint venture by the Government with non-public sector cha
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Indian Railways cut Rs 47 bn metro transport funding
Indian Railways cancelled the Rs 4,733 crore fund allocated under the metropolitan transport project (MTP) during the Railway Budget 2012-13. The railways cancelled the allocation primarily because allocation exceeded the absorption capacity of metropolitan transport projects located in Hyderabad, Che
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Indian Railways cut Rs 47 bn metro transport funding
Indian Railways cancelled the Rs 4,733 crore fund allocated under the metropolitan transport project (MTP) during the Railway Budget 2012-13. The railways cancelled the allocation primarily because allocation exceeded the absorption capacity of metropolitan transport projects located in Hyderabad, Che
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Dewan Housing mulls Rs 40 bn fund raising
In a communication to the stock exchange, Dewan Housing Finance Corporation informed that it plans to mop up Rs 4,000 crore through debentures. Of the Rs 4,000 crore, a maximum of Rs 3,000 crore would be raised through private placement of secured debentures in one or