The Cabinet Committee on Investment (CCI), according to latest reports, has unlocked 144 stalled infrastructure projects worth Rs 5.27 lakh crore. But experts don't see this reviving the fortunes of the Indian economy owing to the long gestation period of these projects.
Category: Infrastructure Finance
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Telecom Commission to introduce graded penalty system
The Telecom Commission will soon decide on a new graded financial penalty system for telecom operators. The penalties will range from Rs1 lakh as a warning to Rs 50 crore for a severe infraction.
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ADB loan to three projects
The Asian Development Bank (ADB) and the Government of India signed loan agreements worth about $605 million (around Rs 3,760 crore) for three separate projects to better rail services, power and roads in the country.
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bilateral investment pacts to be reviewd
The government said it was reviewing all its bilateral investment promotion and protection pacts, amid global firms raising concerns about IndiaĆĀ“s investment policies. So far India has implemented 83 bilateral investment promotion and protection agreements (BIPPAs) with various countries.
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Bankers are not mere lenders, they should be accepted as partners
Corporates should treat banks as partners, and that will help in solving many problems. MV Tanksale, Chief Executive, Indian Banks' Association, tells Rahul Kamat that with new banks coming in, there will be intense competition
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Advantage infrastructure
A wide range of projects and facilities are granted the status of infrastructure projects under the new Companies Act, 2013. Prachi Manekar elaborates on the benefits from the new Act for the infrastructure projects.
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GFH investment pact
Gulf Finance House (GFH), a Bahrain-based Islamic investment bank, has signed two development agreements with Adani Infrastructure and Mumbai-based developer Wadhwa Group for real estate development in India. The agreements were signed on the sidelines of the Bahrain-India Business Forum in Mumbai, held as part of King Hamad bin Isa Al KhalifaĆĀ“s visit to India.
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SBI to invest in GIFT city
State Bank of India (SBI) will invest Rs 150 crore to establish a facility in the Gujarat International Finance Tec-City (GIFT) at Gandhinagar. GIFT city is an initiative of Gujarat government to develop a hub for financial institutions.
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Exim Bank PAC in Africa this year
Exim Bank will be setting up a project advisory company (PAC) in Africa this year. The PAC will essentially look to bring infrastructure projects in Africa to a bankable stage and facilitate exports from India to Africa. This is the first time Exim Bank is looking to set up a PAC and also the first time in Africa. Opportunities for infrastructure development in Africa are huge, with a World Bank study projecting the annual investment requirement in infrastructure at $90 billion.
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IDFC to raise $300 mn
Infrastructure Development Finance Company (IDFC) is planning to raise $300 million through foreign loans. Earlier, in the third quarter (Q3) of the current financial year, the company raised $150 million through international loans with a five-year maturity. IDFC posted a 10 per cent rise in consolidated net profit at Rs 501 crore for Q3, compared with Rs 455 crore in the corresponding period last year.