Financial services firm Religare, which plans to apply for a new banking licence, may receive equity contribution from the International Finance Corporation (IFC), an arm of the World Bank. Reports suggest that IFC is willing to invest in ReligareÂ’s proposed banking entity. IFC
Category: Infrastructure Finance
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NHB, ministry devise plan to protect bank loans to housing projects
Reports suggest that National Housing Bank (NHB) and finance ministry are devising a plan to prevent loans given by banks for projects which are stalled from turning worthless assets. According to the plan, the ministry wants public sector banks (PSBs) to transfer such projects to ARCs against securitisation (against future cash flows of the projects) and l
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MFIs asked to charge rates in sync with borrower ability
Prime Minister's Economic Advisory Council Chairman C Rangarajan suggested micro finance institutions (MFIs) to charge interest rates according to the repayment ability of borrowers. He remarked that fixing the interest rate independent of the repaying capacity of the borrower is asking for disas
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Emerging mkt funds deploy huge amount in Indian mkt
Reports suggested that emerging market funds deployed a sizable amount of funds into Indian equity markets in 2012.These funds, that are a section of foreign institutional investors (FIIs), invest in markets such as India, China, South Korea and Taiwan, among others. On the other hand, India-focused funds witnessed sharp redemptions from their abroad clients during the year, quas
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HPCL to raise $350 mn via issue of bonds
Hindustan Petroleum Corporation (HPCL) plans to raise around $350 million this year through issue of bonds to overseas investors, reports suggest. While the company is working on raising $400 million in external commercial borrowings (ECB), it plans to raise another $350 million through issue of bonds to overseas investors. HPCL is reportedly securing ratings for the bond issue
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Gross NPAs of state-run banks rise
Minister of State for Finance Namo Narain Meena informed Lok Sabha that the gross non-performing assets (NPAs) of public sector banks have increased from 2.28 per cent in March 2010 to 4.01 per cent in September 2012. During the same period, the gross NPA (as a percentage of gross advances) of SBI Group, rose from 2.82 per cent in March 2010 to 5.16 per cent in September 2012,
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Ministry officials to discuss EPFO investment in IDF
Reports suggest that the officials of labour ministry and the finance ministry may soon discuss the issue of allowing EmployeesÂ’ Provident Fund Organisation to invest in infrastructure debt funds (IDF). Presently, EPFO is not allowed to invest a part of its Rs 5 lakh crore corpus in the IDF. It is learnt that the organisation, through the labour ministry, has already begu
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Primary mkt fund raising declines 41%
Data released by Sebi shows that fund raising by Indian companies through issue of equities and bonds in the primary market declined 41 per cent to Rs 9,483 crore in April-October 2012. During the year-ago period, the number was Rs 16,131 crore. Data shows that companies raised Rs 9,483.2 crore through 30 issues during Apr-Oct 2012 as against Rs 16,1
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Firms seek debt recast for 2nd time
More and more companies are applying for second round of corporate debt restructuring (CDR) because of their inability to service loans, a report by brokerage firm Prabhudas Lilladhar shows. The report shows that not only is the number of debt-restructuring proposals reaching CDR cell on the rise, the quality of cases is
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PE firms offload stakes in realty projects
Reports suggest that private equity funds that invested in IndiaÂ’s real estate sector during its best years in 2006 and 2007 are offloading their stakes in the projects. These funds are now looking to exit and return money to investors as they had an investment horizon of around five years. The latest to join the trend is Indiareit Fund Advisors whic