To relax conditions on foreign direct investment (FDI) in the construction development sector of the country, the Union Department of Industrial Policy and promotion (DIPP) has moved a Cabinet note. The move is to bring foreign money into Indian real estate sector that is facing fiscal problems.
Category: Infrastructure Finance
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CAD to be under control for time being: RBI
RBI Governor, Raghuram G Rajan has said that the current account deficit (CAD), which was going to take the country to crisis, is likely to be under control for the time being. He added that there has definitely been a positive change in the sentiment. He was addressing the Indian Institute of Management Raipur (IIM-R).
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Red Ford to invest Rs 1,000 cr in Lotus Green
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.
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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.