The Telecom Ministry aims to provide rural wireless broadband connections to over five lakh villages in one-and-a-half years and will provide a subsidy to both state-owned and private service providers from the Universal Service Obligation Fund.
Category: Infrastructure Finance
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Banks should increase their size to participate in the huge infra lending opportunities
Corporation BankĆ¢ā¬ā¢s lending grew 30 per cent last year, and its confidence in infra-lending is evident. The high growth will continue, according to Chairman and Managing Director Ramnath Pradeep.
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Private Equity: Telecom's infra-sharing model can be replicated in other sectors
IDFC was established in 1997 to channel the private capital into the infrastructure sector, and IDFC Private Equity was established in 2002-3 to provide equity support to infrastructure sector.
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Rs 5 lakh crore in 2012-2017
The telecom sector will witness investments to the tune of Rs 5 lakh crore in the next Plan (2012-2017).
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GoI to standardise infra definition
In order to bring about uniformity and target concessions to the right segments, the government will decide on the segments that will be classified under infrastructure sector.
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HCC redeems FCCBs
Hindustan Construction Company has made payment towards redemption of the outstanding Zero Coupon Convertible Foreign Currency Bonds along with the accumulated redemption premium at the redemption price of 137.7 per cent of the principal amount.
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Tower biz gets infra status for funds
In an effort to support funding for telecom facilities, the Reserve Bank of India declared that telecom towers will be treated as infrastructure facility, to get credit from non-banking finance firms.
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IIFCL signs $250 mn deal with ADB
The government, Asian Development Bank (ADB) and the IIFCL have signed a $250 million loan agreement for tranche 2 of the ongoing Second India Infrastructure Project Financing Facility.
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Nomura floatS $500 mn fund
Nomura Securities plans to raise $500 million India Infrastructure Fund from domestic investors to invest in companies that build roads, ports and power utilities.
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Annual subsidy for PSUs
Due to the deteriorating performance of PSUs, the department has revived its proposal for the merger of BSNL and MTNL.