Red Ford Capital, a Mumbai-based private Equity fund company, will buy a minority stake in Lotus Green's various real estate projects. Two townships have been planned by Lotus in Delhi. Lotus Greeen is also involved in the business of hotels, healthcare and education.
Category: Infrastructure Finance
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Bimal Jalan committee to finalise bank licences
Former RBI governor Bimal Jalan headed committee will finalise the candidates who will be eligible to run a bank. The committee will also have former ICICI Bank executive director Nachiket Mor, former Securities and Exchange Board of India chairman CB Bhave and former Reserve Bank of India deputy governor Usha Thorat.
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US firm TPG eyes stake in Manappuram Finance
US-based private equity firm TPG is stated to be in talks with the gold loan company Manappuram Finance for buying a minority stake. Manappuram promoter VP Nandakumar along with Sushama Nandakumar hold 31.55 per cent stake in the company.
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Suggestions invited on financial inclusion
Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households, set up by the Reserve Bank of India (RBI), on October 4 said that it has invited suggestion from stakeholders on development of financial services delivery model.
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Maha to decide soon on Rupee-Saraswat merger
The Maharashtra government would decide within eight days on merger of the Rupee Co-operative Bank with the Saraswat Bank, said the State Co-operation Minister Harshvardhan Patil.
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Govt keen to set up urban transport authority
The Union government has intensified efforts to set up Urban Metropolitan Transport Authority (UMTA) and Urban Transport Fund (UTF) for a planned and coordinated implementation of urban transport projects
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State Bank of Mysore to open 101 branches
Subsidiary of State-owned SBI, State Bank of Mysore (SBM) will open 101 branches in the country on October 5 to commemorate its centenary celebrations this year. It will open seven new branches in Dakshina Kannada and Udupi districts of Karnataka on October 5.
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Express loan scheme from DHFL from Oct 5-Nov 5
An 'Express Loan' scheme has been announced by Dewan Housing Finance Corporation (DHFL) to customers to buy their dream home during this Dasara/Diwali auspicious festive period, starting October 5.
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Infra trust fund on its way
Under the finance ministry's new announcement, the revenues of a project will be transferred to the trust, which will then issue units to investors. Shilpi Aggarwal says the government is seeking innovative financing solutions for infrastructure.
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IIFCL to get $700 mn ADB infra loan
To fund India's infrastructural projects, the Manila-based Asian Development Bank (ADB) will give $ 700 million to the India Infrastructure Finance Company IIFCL) in the next one-and-a-half years. Of the $700 billion, $400 billion would be given to IIFCL by early 2014 and the remaining by early 2015.