In order to develop a vibrant corporate bond market, the union finance ministry is reportedly planning some steps in collaboration with Reserve Bank of India (RBI) and the ministry of corporate affairs (MCA). Media reports suggest that the ministry plans to give statutory liquidity ratio (SLR) status to corporate bonds in order to encourage banks to
Category: Infrastructure Finance
Post
Post
Air India to repay part of debt by raising funds
In order to reduce its interest outgo on the current dues, Air India plans to repay some of its debt that carry high interest rate. As part of this initiative, the airline plans to borrow Rs 900 crore from banks through issue of bonds. The amount would be used to repay a part of its debt. Air India is said to owe around Rs
Post
Srei Infrastructure sees IDF in 2 months
Having received approval from the Sebi for setting up an infra debt fund (IDF) through the mutual fund route, Srei Infrastructure Finance would begin the process now and hopes to launch it in January 2013. This information was given by Hemant Kanoria, Chairman and Managing Director of Srei to a leading media agency
Post
Finance dept kept in the dark while clearing projects
Jharkhand state cabinet is accused of approving two mega projects in road and power transmission sectors without engaging the finance department of the state government. The cabinet is said to have cleared a proposal from the road department for construction of the Rs 3,000 crore Ranchi-Bokaro Expressway. Also, it is said to have appr
Post
Govt to disclose final draft of GAAR in 10 days
The draft rules on general anti-avoidance rules (GAAR) prepared by an expert committee chaired by Parthasarathi Shome is sent to the prime minister and a final decision would be taken in 10 days. This information was given by Finance Minister P Chidambaram. The Shome committee suggested that the controversial rules be deferred until 2016-17 and that safeguards be put in place to ensure that taxpayers are not harassed by the rules that seek to deny tax bene
Post
Minister hopes to get revenue to control deficit
Speaking to reporters after a meeting of the Group of Ministers (GoM), Finance Minister P Chidambaram expressed hope of getting revenues from somewhere to control fiscal deficit within 5.3 percent of GDP. He remarked that there is still some time left in this financial year for carrying out disinvestment and auctioning of spectrum in the unbid
Post
JICA agrees to lend Rs 200 bn for mega corridor project
Japan International Cooperation Agency (JICA) agreed to lend JPY 295 billion (about Rs 20,000 crore) for the two routes in the proposed Dedicated Freight Corridor (DFC
Post
WBHIDCO to allot vacant land
As part of its second phase development of the proposed financial hub at New Town near Kolkata, the West Bengal Housing Infrastructure Development Corporation (WBHIDCO) plans to allot six vacant plots totalling around 2.5 acre of land. The plots would be allotted on a lease-hold basis (for 99 years) and the cor
Post
Corporate bond issue declines sharply
Fresh bond issuance by companies has dwindled sharply in the last few months because issuers are delaying their fund raising plan expecting Reserve Bank of India (RBI) to cut policy rate going forward.Also, expectation of tax-free bonds flooding the markets from November has also reduced fresh issuance by companie
Post
Net profit, sales decline for ABG Shipyard
Net profit of ABG Shipyard declined more than 32 percent to Rs 32.8 crore during the quarter ending September 30, 2012 from Rs 48.4 crore in the year-ago period. Net sales of the private sector shipbuilder also declined to Rs 543.6 crore during the reporting period from Rs 571.6 crore in the year-ago period.