India Infrastructure Finance Company Ltd (IIFCL) may not see a paradigm shift because it was recently bestowed the NBFC status. Yet the company now hopes that regulation will help define its processes and growth better, Harsh Kr Bhanwala, Executive Director, IIFCL, tells Shashidhar an undaiah.
Category: Infrastructure Finance
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Finance blues will change as macroeconomic conditions change: Experts
Lending to the infrastructure sector expanded at a decent pace of 37 per cent CAGR during FY03-13. Lending to infrastructure sector as a part of overall industrial bank credit rose to 32.7 per cent of in FY13 from 10.6 per cent of FY03. Over the past five years, lending to power sector grew by a faster clip of 34 per cent CAGR.
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ADB studies
India´s east coast economic corridor On the Indian East Coast economic corridor, the Asian Development Bank (ADB) is carrying out analytical work. The study will examine the kind of infra-¡structure and institutional investments needed to drive manufacturing-led growth that will create jobs and leverage local, national, regional and global opportunities, according to an ADB release.
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ICICI Venture to raise Rs.1,685 cr
The proposed ICICI Venture infra fund, which aims to invest in assets such as roads, ports, airports and seaports and infrastructure companies, has secured investment commitments of up to $270 million (Rs 1,685 crore) from major companies like LIC.
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Govt to set up Rs.5,500 crore innovation fund
The Union government is likely to set up a Rs 5,500-crore Indian Inclusive Innovation Fund (IIIF). Media reports say that the Union Cabinet is likely to take up a proposal in this regard. The fund will be under the Ministry of Micro, Small and Medium Enterprises (MSME).
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World Bank GIF to be ready by April
For its proposed Global Infrastructure Facility (GIF) that will finance core projects in emerging economies like India, the World Bank is expected to finalise the GIF´s shape by next April, says an official in India´s Finance Ministry. The official added that the spring meeting of the World Bank in April will discuss the design the GIF. The facility will help finance needs of infrastructure deficit nations. The World Bank made a presentation to Finance Minister P Chidambaram in October on the pr
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ADB to set up infra fund for Asia-Pacific region
To provide finance for projects in Asia Pacific region, the Asian Development Bank (ADB) is to set up Asia Pacific Infrastructure Fund. The Manila-based ADB said it is now looking at a Asia Pacific Infrastructure Fund for infrastructure investment in Asia-pacific region.
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CDC Group investments
The UK government´s evelopment finance institution CDC Group will step up its investments in India despite a slowing economy, stalled reforms and a hyper-competitive private equity landscape, dotted with few exits and dismal returns. CDC has invested $260 million through five transactions in six weeks. Most of this has been through its traditional role as a ´fund-of-funds´ investment firm which invests in other private equity funds.
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New fiscal products needed
To ensure proper arrangements for repayments or refinance for infrastructure projects, there is a need to design new fiscal products, according to State Bank of India Chairperson Arundhati Bhattacharya. Presently, majority of infrastructure projects in the country are financed with 8-10 year term loans, while the assets have a life of at least 25 years. This led to front-loading of repayments, Bhattacharya said
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Tata Cleantech to fund renewable projects
With the costs increased for coal-based power, Tata Cleantech Capital may fund as much as Rs 2,500 crore ($401 million) on renewable and energy-efficiency projects in India. The combined cost of grid power and diesel generators that many companies use nowadays is higher than solar, the company reasoned for its move to fund renewable energy projects. The Tata Cleantech Capital has been set up jointly by Tata Capital and International Finance Corp.