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.
Category: Infrastructure Finance
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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
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India Infoline to issue Rs 10.5 bn worth debentures
India Infoline Finance would issue non-convertible debentures worth Rs 525 crore with an option to retain over-subscription of a similar amount. In other words, the non-banking finance arm of India Infoline would mop up a maximum of Rs 1,050 crore through this issuanc
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Kerala sanctions funds for development of two ports
For the overall development of Vizhinjam port, the Kerala government has sanctioned Rs 1 crore and Rs 3.80 crore for Beypore Port. In Vizhinjam port, Rs 50 lakh each will be used to construct channel marketing buoys and fire fighting system respectively.
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Govt to infuse Rs 14,000 cr into banks, SBI looks for Rs 4,000-cr
India's largest State-owned bank, State Bank of India (SBI) on September 16 stated that it has recommended a cut in the cash reserve ratio (CRR), the amount of funds that the banks have to keep with the Reserve Bank of India (RBI) as well as in repo rate, the discount rate at which RBI repurchases government securities from the commercial banks. SBI said that it is expecting Rs 4,000-crore capital infusion from the government to shore up its capital.
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Banks borrow Rs 247.5 bn from RBI via MSF on Sept 14
From the Reserve Bank of India's (RBI) marginal standing facility (MSF) window, banks in India borrowed Rs 247.50 billion on September 14, when the central bank offered the special funding window due to the cash crunch generated by advance tax outflows.
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Exim Bank to set up project development company in Africa
Leading export lending firm Exim Bank chalks out plan to set up a project development company in Africa with multiple partners including State Bank of India.
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Exim Bank to get Rs 700 cr capital infusion
To give a fillip to the future growth the lender bank Export-Import Bank of India, the Union government on September 12 approved a proposal of Rs 700 crore capital infusion. The fund infusion will ensure compliance to the regulatory norms on capital adequacy, cater to the credit needs of productive sectors of economy as well as to withstand impact of stress in the economy, an official statement said in Delhi.
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Rupee weakness to have minimal impact on Hindalco
Kumar Mangalam Birla, Chairman of Hindalco Industries said the impact of rupee depreciation on the company's balance sheet would be minimal as it does not have much of foreign currency loan. Addressing shareholders at the companyÂ’s 54th annual general meeting, Birla said the firm has a foreign loan of only $100 million and so the impact of rupee deva
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RBI to keep monetary policy tight till Rupee stabilises
Prime MinisterÂ’s key economic advisor C Rangarajan has on September 12 said that the Reserve Bank of India (RBI) must continue its tight monetary policy until stability in the rupee value is achieved. Thereafter, if the current trend in the moderation of wholesale price inflation continues, which is in fact expected, the monetary authorities can switch to a policy of easing, Rangarajan said while releasing the Economic Outlook for 2013-14 in Delhi.