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
Category: Infrastructure Finance
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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
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Banking licence likely to provide IDFC access to low-cost bank deposits
IDFC Ltd has won a banking licence as per a recent RBI announcement. A banking licence would provide a window to IDFC to access low-cost bank deposits and reduce reliance on high-cost term loans and, thus, help expand margins. The company was set up in 1997 as a specialised lender for big-ticket infrastructure project with long gestation period.
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RBI considers India Post banking licence application
The Reserve Bank of India (RBI) has decided on Apri 2, 2014 to grant "in-principle approval to two applicants viz., IDFC Ltd and Bandhan Financial Services Pvt Ltd, to set up banks under the guidelines on licensing of new banks in the private sector issued on February 22, 2013. The High Level Advisory Committee (HLAC) set up by the RBI has recommended the above mentioned companies as suitable for grant of in-principle approval. The HLAC also recommended that application of Department of Post for
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RBI grants in-principle approval for banking licences to IDFC and Bandhan
The Reserve Bank of India (RBI) has decided on April 2, 2014 to grant “in-principle” approval to two applicants viz., IDFC Ltd and Bandhan Financial Services Pvt Ltd, to set up banks under the Guidelines on Licensing of New Banks in the Private Sector issued on February 22, 2013 (Guidelines). These two applicants were also recommended as suitable for grant of “in-principle” approval by the High Level Advisory Committee (HLAC) set up by the RBI. The HLAC had also recommended that in the case of D
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RBI maintains status quo on repo rate and cash reserve ratio
On April 1, 2014 Reserve Bank of India Governor Dr. Raghuram G. Rajan in his First Bi-monthly Monetary Policy Statement for 2014-15 has announced the monetary and liquidity measures based on an assessment of the current and evolving macroeconomic situation. RBI has decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 8.0 per cent; keep the cash reserve ratio (CRR) of scheduled banks unchanged at 4.0 per cent of net demand and time liability (NDTL)
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Global economy recovery is on track in 2014: RBI
The Macroeconomic and Monetary Developments 2014-15 update is released by Reserve Bank of India along with its first bi-monthly monetary policy statement for 2014-15. As per the macroeconomic update, the recovery of the global economy is on track in 2014, though tightening financial conditions and the divergence in inflation pose risks. Since the January 2014 monetary policy statement, global growth outlook remains broadly unchanged though weaker initial data to some extent cloud optimism. Globa
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Indian economy is set on a dis-inflationary path: RBI
The Macroeconomic and Monetary Developments 2014-15 update is released by Reserve Bank of India along with its first bi-monthly monetary policy statement for 2014-15. As per the macroeconomic update the Indian economy is set on a dis-inflationary path, but more efforts may be needed to secure recovery. While the global environment remains challenging, policy action in India has rebuilt buffers to cushion it against possible spillovers
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Industrial growth stagnating: RBI
The Macroeconomic and Monetary Developments 2014-15 update is released by Reserve Bank of India along with its first bi-monthly monetary policy statement for 2014-15. As per the macroeconomic update, the industrial growth is stagnating. The Index of Industrial Production (IIP) showed no increase during April-January 2013-14, compared with 1.0 per cent growth in the corresponding period of the previous year. This stagnation in growth over two years reflects subdued investment and consumption dema