India Infrastructure Finance Company (IIFCL) has expressed confidence that during the current financial year it would be able to achieve its target of raising Rs 10,000 crore. The government-owned company has so far raised about Rs 4,200 crore and expects to raise the remaining amount over two tranches, through bond issues of about Rs 2,500 to Rs 3,000 crore each.
Category: Infrastructure Finance
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Karnataka asks banks to set up ATMs in all GPs
Regretting the delay in wage payments by banks to the beneficiaries under the Mahatma Gandhi National Rural Employment Guarantee Act, the Karnataka government has asked all nationalised banks in the state to set up automated teller machines (ATMs) in all gram panchayats (GPs).
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RBI raises ECB limit for infra non-banking finance firms
The external commercial borrowing (ECB) limit for non-banking finance companies(NBFCs) has been been raised by the the Reserve Bank of India and classified as infrastructure finance companies (IFCs).
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Tata to install 15,000 ATMs in small towns
The Tata Group is taking initiative in the country's financial inclusion. Tata Communications Payment Solution has got RBI's approval to install 15,000 automated teller machines (ATMs) in the next three years, two-third of which will be in smaller towns.
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Recovery or Illusion?
Industry observers have promptly branded the growth in some of the core sectors in the second quarter as ´encouraging´ and ´first signs of recovery´ for the infrastructure sectors.
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Recourse in a financial dry-up
In order to execute mega specialised projects, one of the important requirements is new technology equipment. DK Vyas elaborates on the financing issues in the procurement and use of such equipment. The construction industry in India is the second largest industry after agriculture
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Future = sustainable economically booming
How does a city build infrastructure that nurtures stable economic growth and also harnesses sustainable and inclusive development, in a way that urban-dwellers can experience high quality of life with access to basic amenities, shelter and employment but are immune to the effects of climate change? Sunil MK draws from Asian benchmarks.
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Land Bill is a concern for Japanese investors
The financial champion of the much-hyped DMIC is largely tight-lipped about it. Shin Oya, Chief Representative, Japan Bank for International Cooperation (JBIC), tells Shilpi Aggarwal why his country may be waiting for the next general elections, is guarded on some questions but has no hesitation to say why the Indian government must treat ECBs better,
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Modalities for Infrastructure Trust Fund within a month
To accelerate the flow of long-term funds into various projects in areas such as power, roads and ports, the Union Finance Ministry may put in place within a month the modalities for a new structure of the Infrastructure Trust Fund, the Ministry stated. The proposed fund is expected in the nature of REIT (Real Estate Investment Trust), which are prevalent in many countries like Singapore.
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Govt to take loan from RBI
To meet its unexpected expenditure of the Union government, the Reserve Bank of India (RBI) would provide Rs 20,000 crore through its Ways and Means Advances (WMA) window in the second half of the current fiscal. In a statement, RBI said that it has been decided in consultation with the Union government that the limits for WMA for the second half of the financial year 2013-14 (October 2013- March 2014) would be Rs 20,000 crore.