The Amaravati Metro Rail Corporation (AMRC) Managing Director Ramakrishna Reddy has urged the government to take immediate measures for release of funds to the tune of Rs.500 crore.
Category: Infrastructure Finance
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SC asks Vodafone to deposit Rs.2,000 cr
The Supreme Court directed Vodafone India to deposit Rs.2,000 crore with the department of telecommunications, paving the way for the phone company to go ahead with a three-year-old process to merge six group units amid a plan to revive an initial public offering (IPO).
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PGCIL lowest bidder for Rs.6,300-cr Vemagiri II proj
Power Grid Corporation Ltd (PGCIL) has emerged as the lowest bidder for Vemagiri II power transmission project of around Rs.6,300 crore in a tariff-based auction. For Vemagiri II project, PGCIL has bid very aggressively and quoted Rs.359 crore annual tariff per annum followed by Sterlite Grid (Rs.429.05 crore), Essel (Rs.459 crore) and Adani (Rs.585 crore).
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Japan offers India $15-bn for bullet train project
Japan has offered to finance India´s first bullet train, estimated to cost $15 billion, at an interest rate of less than a per cent, officials said, stealing a march on China, bidding for other projects on the world´s fourth-largest network.
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Maintenance of lanes led to delay in NH-8 project
The land availability may have remained one of the prime reasons behind the delay in NH-8 project, but the developer- Pink City Express Private Limited (PCEPL)- has made some observations which point out other reasons for the delay.
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Deposits under Jan Dhan Yojana cross Rs.25,000 cr
Deposits in accounts opened under the government´s ambitious financial inclusion scheme Pradhan Mantri Jan Dhan Yojana have crossed Rs.25,000 crore, the Finance Ministry said. A “good amount” has come to the banks as low-cost deposits, it said.
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Rajasthan to use PSUs surplus money for sick units
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.
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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.