The Rajasthan Government will use surplus money of state PSUs for providing finance to power companies and sick units, a state minister said. The state government will set a finance corporation which will make available surplus money of PSUs to power companies and other sick units, the state cabinet decided today.
Category: Infrastructure Finance
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Rs.3.1 lakh cr worth Defence deals cleared; zero movement on ground
In the 17 months that the NDA government has been in power, the Defence Acquisition Committee (DAC) that vets all big-ticket deals has cleared projects worth a whopping Rs.3.1 lakh crore ($47 billion), but none of these are anywhere near closure.
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Utkarsh Micro Finance raises Rs.30 cr from Ratnakar Bank
Utkarsh Micro Finance, which received license to set up small finance bank, has raised Rs 30 crore in commercial paper, the company said. Ratnakar Bank has invested in the CP issue which will mature in 180 days. The coupon was 10.15 per cent.
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NHB gives nod to 6 new entities
The National Housing Bank (NHB) has granted permission to six new entities, namely, Supreme Housing Finance, Nivara Home Finance, Khush Housing Finance Private, Bajaj Housing Finance Capri, Global Housing Finance Pvt Ltd and Hinduja Housing Finance Ltd, to become housing finance companies.
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RBI approval to set up a subsidiary for real estate of SBI
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.
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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.