State Bank of India (SBI) has signed up Reliance Money Infrastructure (RMIL), an Anil Ambani Group company, in a 'business correspondent' deal to source a range of banking services.
Category: Infrastructure Finance
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WB loan for rail corridor
The World Bank has sanctioned a loan of $1,100 million for the construction of a 393-km double line on the Mughalsarai-Bhaupur section of the Eastern Dedicated Freight Corridor project.
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IDFC Q4 profit dips 51 per cent
IDFC saw its fourth quarter consolidated net profit drop 51 per cent as income remained largely flat and expenses almost doubled. In the January-March period, the infrastructure finance company posted a net profit of Rs 258 crore against Rs 526 crore,
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CSL appoints new finance director
D Paul Ranjan has assumed charge as Director (Finance) of Cochin Shipyard Ltd (CSL) from 1 May 2014. A Chartered Accountant by profession, Paul Ranjan joined the company as executive trainee in 1984.
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Finmin move to make spectrum a tangible asset
The finance ministry is preparing a draft note on making spectrum a tangible asset so that the airwaves can be considered as collateral by financial institutions for lending to telecom companies.
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Telecom operators prepare wishlist for next government
The telecom industry has prepared its wish list for the next communications minister, with speedy introduction of spectrum trading and sharing policies and favourable merger and acquisition rules topping the demands.
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Videocon Telecom to invest Rs 1,240 cr
Videocon Telecom will invest Rs 1,240 crore mainly in network expansion and infrastructure in four service circles. According to Videocon Telecom Director and CEO Arvind Bali
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Cairn India annnounces financial results
Cairn India Ltd (CIL) has announced its annual financial results for the period ending 31 March 2014. The result recorded a revenue of Rs 18,762 crore ($3.1 billion), up 7 per cent YoY on account of enhanced volumes
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RBI Governor pays heed to TAC recommendations
Reserve Bank Governor Raghuram Rajan in his April 1 review kept the policy rates unchanged in view of high inflation and uncertainly on the political and economic front. The governor has paid heed to the recommendations of the Technical Advisory Committee (TAC) on Monetary Policy.
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RBI releases GIRO Advisory Group report
The Reserve Bank of India had announced the constitution of a GIRO Advisory Group (GAG) under the chairmanship of Prof. Umesh Bellur, Indian Institute of Technology, Bombay to implement a national GIRO-based Indian Bill Payment System. The GAG submitted its report on March 20, 2014 to the Reserve Bank of India. The GAG has observed that bill payments landscape in the country are mostly biller-specific and thus do not provide an environment to customers to make bill payments through an inter oper