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.
Category: Infrastructure Finance
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Jaipur Metro to get Central funding
The Union Urban Development Secretary Sudhir Krishna said that the Union government is to make equity investment in Jaipur Metro, which till now, was funded by the state government. The proposal will be put forth Union Cabinet soon, he said without revealing further details.
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Kolkata to get $400 mn ADB loan
To improve water and sanitation system in peripheral areas of Kolkata, Asia Development Bank (ADB) will provide $400 million loan. The
loan will help the city improve its water and sanitation system in peripheral areas of the fast-growing metropolis which are missing out on quality services, ADB said.
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Govt to meet Rs 54,000 cr disinvestment target
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.
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Govt to meet Rs 54,000 cr disinvestment target
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.
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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.