The Union government is confident of meeting the Rs 54,000 crore disinvestment target for 2013-14, the government said on September 23. The government has set a target of Rs 40,000 crore for its stake sale in public sector units (PSUs) and Rs 14,000 crore from selling its shares in private companies.
Category: Infrastructure Finance
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Deutsche Bank swaps $450 mn via RBI window
In a first in India, Deutsche Bank has used the Reserve Bank of India's (RBI) window to swap fresh foreign currency non-resident bank (FCNR) (B) dollar funds. The bank raised about $450 million FCNR (B) deposits from about 10 non-resident Indians and swapped it with the central bank.
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Govt mulls to set up infrastructure trust fund
In support of investments in the infrastructure sector, the Union government is mulling to set up an infrastructure trust fund by next November. The fund will be on the lines of fiscal funds set up by real estate investment trusts in Singapore and some other countries. In India, infrastructure sector has been struggling for the past few years due to lack of investments since banks have been wary of lending due to policy constraints.
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Govt mulls to set up infrastructure trust fund
In support of investments in the infrastructure sector, the Union government is mulling to set up an infrastructure trust fund by next November. The fund will be on the lines of fiscal funds set up by real estate investment trusts in Singapore and some other countries. In India, infrastructure sector has been struggling for the past few years due to lack of investments since banks have been wary of lending due to policy constraints.
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SBI increases lending, deposit rates
Ahead of Reserve Bank of India's (RBI) mid-quarter monetary policy review the State Bank of India (SBI), hiked its lending and deposit rates on September 19. The country's larges bank hiked its base rate, or the minimum lending rate, to 9.8 per cent from 9.7 per cent.
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Infra definition expanded for ECB facilitation
With an intension to raise funds through external commercial borrowings (ECBs) the Reserve Bank of India (RBI) on September 18 expanded the definition of the infrastructure sector. The existing definition will be expanded for infrastructure sector for the purpose of availing ECBs, the apex bank said in a notification.
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PM Office monitors CAPEX, investment plans of CPSEs
The Prime MinisterÂ’s Office has been monitoring the Capital expenditure (CAPEX) and investment plans of selected Central Public Sector Enterprises (CPSEs) since FY 12-13. The purpose of this exercise was to enhance investment in the economy and use CPSEs to drive economic growth.
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South Indian Bank, RCC join to aid cancer treatment
South Indian Bank has tied up with the Regional Cancer Centre (RCC) in Thiruvananthapuram for a noble cause-advanced treatment for cancer. This tie-up with RCC is in support of cancer patients, the Kerala-based bank says. The bank helps individuals to be a member of RCC. A member, if diagnosed for cancer at some point in time in his life, can get advanced treatment almost for free.
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Indian firms abroad investments fall to $ 1.94 bn in Aug
Amid the Reserve Bank of India's (RBI) tightening norms, overseas investment by Indian companies declined sharply to $1.94 billion in August. The RBI has clamped norms for outbound investments by the domestic firms to contain rupee slide. A month ago in July, the Indian firms had invested $ 3.24 billion in their various entities overseas.
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Borrowing of infra firms rises faster than revenue
Official data shows that the borrowing of 17 construction and infrastructure (C&I) companies that are part of the BSE-500 index has risen more than their revenue and net profit during the last five years since 2008. While borrowings of these firms rose a little over five times, to Rs 2.7 lakh crore since 2008, their revenue and cas