In the Dhanlaxmi Bank, prominent non-resident Indian (NRI) businessman MA Yusuffali has acquired 4.99 per cent stake. He has also acquired close to five per cent stake each in Federal Bank and Catholic Syrian Bank (CSB) this year itself.
Category: Infrastructure Finance
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Postal Dept cuts fund proposal to Rs 623 cr
To start banking operations, the Indian Department of Posts (DoP) had projected earlier the need of about Rs 1,900 crore. Now the DoP has has lowered the amount to about Rs 623 crore. The DoP has applied for a banking licence.
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Bank Indonesia to revive India operations
After a gap of nearly five years, Bank Internasional Indonesia is reviving its operations in India under its new promoter, the Malaysia-based Maybank group. Commercial banking operations of the bank will resume with a capital of $28 million from its single-branch office in Mumbai with an initial focus on corporate banking.
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Coastal to restructure its Rs 3,700-cr debt
Coastal Projects company is reported to have decided to go for restructuring of its loans worth Rs 3,700 crore. With Rs 500 crore, State Bank of India has the highest exposure to the Hyderabad-based construction company.
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AP to get 130 cyclone shelters
With financial assistance of the World Bank, a total of 130 cyclone shelters are being built in Andhra Pradesh, 17 of them in Visakhapatnam district. The National Disaster Management Authority (NDMA) announced this in Visakhapatnam on October 17 after visiting the cyclone-hit areas in the state.
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Muthoot to raise Rs 1,200 cr via listed NCDs
Through public non-convertible debentures (NCDs) Muthoot Finance will be raising around Rs 1,200 crore this year. The company will be issuing listed NCDs every month till the end of the financial year. The company's move follows the Reserve Bank of India restrictions on privately placed NCDs.
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India’s housing finance sector looks for growth
With an increase in the demand and supply of housing projects in the country, the housing finance sector is set to see higher growth in the next few years. As on last June 30, 2013 the total housing credit outstanding in India was over Rs 7.99 lakh crore, against Rs 7.59 lakh crore on March 31, 2013.
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Hyd Metro Rail expects Rs 1,000 cr ECBs
By the end of this October the L&T Hyderabad Metro Rail is expecting to get Rs 1,000 crore External Commercial Borrowings (ECBs) from Indian Infrastructure Finance Company (IIFCL) The company's objective for looking at ECBs is to save on interest besides securing long-term debt.
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NHB to get Rs 500 cr UK loan for low-cost homes
For financing construction of affordable houses in India, British government's Department for International Development will give India's National Housing Bank (NHB) Rs 500-crore loan. The project will begin with eight low-income states -- Rajasthan, Madhya Pradesh, Odisha, Uttar Pradesh, Bihar, West Bengal, Chhattisgarh and Jharkhand.
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PSU banks to get capital infusion to spur economy
The Union government is planning to stimulate the country's economy through capital infusion into government-owned banks. Prior to this act, the Union Finance Minister P Chidambaram will hold a meeting with RBI, bank chairmen and top officials of his ministry soon after his return from the US on October 17. Currently Chidambaram is on his tour in the US.