Sadashiv Rao, Chief Risk Officer, IDFC Ltd tells Rahul Kamat that IDF-NBFC is a safer route compared to IDF-Mutual Fund, as in the latter, the fund manager can invest in any project (under construction) which will have risk involved in it, and investors may not like to invest in high-risk projects.
Category: Infrastructure Finance
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Infra Insights
Long-term financing is what the Indian infrastructure sector needs to attain the projected growth. And Infrastructure Debt Funds (IDFs), which the government had in 2011-12 fiscal under Finance Minister P Chidambaram allowed to form to step up investment in the infrastructure sector, which requires $ 1 trillion in the 12th Plan.
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Seeking Revival
The 6th Annual India Roads Conference organised by ASAPP Media invited industry think tanks and sector people to deliberate, discuss and ponder over the issues plaguing the roads sector in the country. The conference focused on 'Accelerating India's Road to Growth'.
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Exim Bank raises $ 500 million
Exim Bank has raised $500 million by selling bonds to offshore investors. The bond has a tenure of five-and-a-half years offering a yield of 3.961 per cent. The issue was rated as BBB- by rating company S&P. Investors across Asia, Europe and the US have subscribed this issue. Asian investors' subscription was to the tune of 62 per cent while European investors bought 33 per cent of the stake.
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REC to raise funds for RE projects
Rural Electrification Corporation (REC) plans to raise funds from Germany's development bank Kreditanstalt fur Wiederaufbau (KfW) for financing renewable energy (RE) projects. REC had earlier received about Eur100 million loan from KfW. REC has reported a 19.5 per cent growth y-o-y in net profit for the third quarter backed by strong revenues.
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NDB Bank gets IFC loan
The National Development Bank (NDB) was provided with a syndicated loan of $125 million by the International Finance Corporation (IFC). The loan will be used to aid the financing of 50,000 micro, small and medium enterprises by 2018. The Chief Executive Officer of NDB Bank Rajendra Theagarajah said that there would be second loan granted by the IFC by June 2014 amounting to nearly $200 million.
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NCMSL to get funding from NABARD
The National Bank for Agriculture and Rural Development (NABARD) will lend Rs 130 crore to the private sector company National Collateral and Management Services (NCMSL) through its Rural Infrastructure Development Fund. NABARD, which generally lends only to government-owned warehousing entities, has utilised the special window opened by the Centre to fund established private sector warehousing companies like NCMSL.
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FDI dips 3 per cent in 2013
Foreign Direct Investment (FDI) in India dipped by 3 per cent to $22.03 billion in 2013, according to data from the Department of Industrial Policy and Promotion (DIPP). In 2012, India attracted $22.78 billion of FDI. Services, pharmaceuticals, automobiles, construction development, telecom, computer software and hardware, chemicals and power were among the sectors that attracted FDI in 2013.
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IDFC and Bandhan get banking licence
The Reserve Bank of India (RBI) has decided to issue permits to IDFC and Bandhan, the country's largest micro lender based in Kolkata. After the Election Commission gave its clearance to grant of new licences, RBI's committee of central board met to deliberate on the two names placed before it and decided to give its in-principle approval. IDFC and Bandhan will get a year and a half to begin operations, failing which their licences could be cancelled.
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100 AIFs to operate in India
Securities Exchange Board of India (SEBI) has allowed 100 entities to set up Alternative Investment Funds (AIFs) - newly created class of pooled-in investment vehicles for
real estate, private equity and hedge funds - in less than two years. The 100 AIFs have been registered with SEBI since July 2012. Out of this, about 11 entities got market regulator's approval to operate in the country so far this year, 67 in 2013 and the remaining 22 in 2011.