The Union Cabinet Committee on Economic Affairs (CCEA) has approved the setting up of National Electricity Fund (Interest Subsidy Scheme) to provide interest
subsidy aggregating to Rs 8,466 crore on loan disbursement amounting to Rs 25,000 crore to the State power utilities both in public and private sector, to improve the distribution network.
Category: Infrastructure Finance
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National Electricity Fund
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RBI norms for lending to small units
In view of the increase in price index and cost inputs, Reserve Bank of India revised sub-targets for lending to the micro and small enterprises sector. According to the new norms, banks must divert 40 per cent of total advances to the sector to micro (manufacturing) enterprises having investment in plant and machinery up to Rs 10 lakh. The existing limit is Rs 5 lakh. The revision is within the overall ceiling of Rs 25 lakh for micro enterprises as defined in the Micro, Small and Medium Enterpr
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RBI maintains policy rates
In its mid quarter monetary policy review, the Reserve Bank of India (RBI) kept key policy rates (repo and reverse repo) unchanged. Cash reserve ratio (CRR) or the portion of deposits banks keep with the RBI was also unchanged at 4.25 percent. The central bank maintained its October guidance about policy easing in the fourth quarter given the recent inflation patterns and projections.
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RBI maintains policy rates
In its mid quarter monetary policy review, the Reserve Bank of India (RBI) kept key policy rates (repo and reverse repo) unchanged. Cash reserve ratio (CRR) or the portion of deposits banks keep with the RBI was also unchanged at 4.25 percent. The central bank maintained its October guidance about policy easing in the fourth quarter given the recent inflation patterns and projections.
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2013 looks tough for Indian banking sector: Report
A report by Dun & Bradstreet has said that the coming 2013 too looks to be a tough one for India Indian banking sector. Even 2012 was a volatile year for Indian banking, marked mostly by its wait for a cut in rates by RBI since April 2012 and fast deterioration in asset quality.
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L&T Finance buys 11.42% stake in PVR
Media reports says that L&T Finance has picked up 11.42 per cent stake or 32.93 lakh shares in PVR by invoking pledged shares.
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Reliance interested to invest more in Malaysia
Reliance Industries is keen to invest more capital in Malaysia to explore new domains. The company, which acquired BP PlcÂ’s Malaysian petrochemical oil and gas processing plant in Kuantan for $230 million in September, is bullish about its prospects in the South-East Asian nation.
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Maha Governor tells banks to give loans to poor
Governor of Maharashtra K Sankaranarayanan, made a strong plea for availing bank loans to weaker sections, agriculturists and small traders. Inaugurating the Banking Excellence Award ceremony of the Kerala State Forum of BankersÂ’ Clubs - Kerala in Kochi, the Governor said that the benefit of the development must reach the poor.
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Sreedharan asks Gujarat govt to rethink metro rail project
India's Metro Man E Sreedharan suggested Gujarat government to rethink its approach to the Ahmedabad-Gandhinagar metro rail project. Speaking at MS University's 61st annual convocation in Vadodara, Sreedharan said Gujarat has lost the chance to get funding from Japanese government for the project. Sreedharan, who was the former managing director of Delhi
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C’garh to get $300 mn ADB loan to repair its roads
To repair over 900 kilometres of roads in Chhattisgarh state, the Asian Development Bank would provide $300 million loan to the State government, the Bank said in statement on December 11. The project would include works such as expanding roads for two-laning, building new sections, construction and strengthening of culverts and brigdes.