The Maharashtra government has decided to start e-banking facilities in 20,000 state Gram Panchayats to curb financial irregularities by self-help groups and money lenders. In the state, there are around 28,000 gram panchayats. Out them, 20,000 would have the e-banking facility, the government said recently.
Category: Infrastructure Finance
Post
Post
NRI buys 5% stake in Dhanlaxmi Bank
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.
Post
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.
Post
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.
Post
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.
Post
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.
Post
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.
Post
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.
Post
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.
Post
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.