State Bank of India (SBI) has received in principle approval from RBI to set up a subsidiary that will manage the real estate of the government owned bank.
Category: Infrastructure Finance
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Finance Ministry comes to the rescue of Indian airlines
The Finance Ministry may come to the rescue of India´s ailing airline industry. Noting that airlines are among the biggest loss-making entities in aviation sector here, Minister of State for Finance Jayant Sinha will have a meeting with all carriers to discuss their woes.
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Govt may hire experts in banking surveillance: Finance Ministry
The government could hire experts in banking sector surveillance, the Finance Ministry said, as it seeks to avoid incidents like the alleged Rs.6,000 crore scam at Bank of Baroda. “We need specialised expertise in surveillance and analytical algorithm,” Minister of State for Finance Jayant Sinha said after a meeting with officials from public sector banks
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There is no explicit government guarantee but we are hundred percent government owned
It-¦s a very relevant point since $1 trillion is required for infrastructure spending as estimated by the 12th Five Year Plan and you need long-term low-cost funds. Clearly, the major supplier of those, the public sector banks historically, are not going to be able to fill this requirement.
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There is enough money available for players who can deliver on time
Ashish Agrawal, Head-Solar, Hero Future Energies, says there is a buzz in the market and is focused on the rooftop segment.
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Opening the funds tap
A stronger thrust on PPP projects, greater FDI and steady government support can help Indian Railways, one of the world´s largest rail networks, emerge from the rut.
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Bonds credit-enhanced by IIFCL
Government-owned infrastructure financier, The India Infrastructure Finance Company Limited (IIFCL) announced the issuance of India´s first infrastructure bond, credit-enhanced by it.
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Railways to seek Rs.1 lakh cr for safety fund
The Railways Ministry will seek around Rs 1 lakh crore from the finance ministry for a special railway safety fund. This will be used to implement several measures aimed at sprucing up safety performance and checking the spate of recent train accidents which have claimed several lives.
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RBI, Govt to revive distressed utilities
Reserve Bank Governor Raghuram Rajan has said the apex bank is working with the Centre and state governments to revive distressed discoms. ´The government is fully cognizant of the problem as are we.
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FinMin to compile list of projects for foreign governments
The finance ministry will compile a list of projects that can be offered to foreign governments that have pledged billions of dollars in investment. This could be the Narendra Modi government´s version of the project monitoring group set up by its predecessor to get stalled infrastructure development moving again.