The continuously falling rupee would bring pressure on the country's inflation, the Reserve Bank of India (RBI) has cautioned on August 22. However, the apex bank provided some hope on economic growth by stating that it expected the inflation to be more than the five per cent of last financial year.
Category: Infrastructure Finance
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HDFC, ICICI banks up interest rates
Loan rates by Housing Development Finance Corporation (HDFC) and ICICI Bank have risen. On August 22, the two major private banks announced an increase in their lending rates. HDFC has decided to raise its retail prime lending rate, on which its adjustable rate home loans are benchmarked, by 25 basis points to 16.65 per cent from August 23.
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Odisha to get 2,361 banks in 2 years
The Union Minister of State for Finance Namo Narain Meena has stated that in Odisha, the domestic scheduled commercial banks are planning to open 2,361 brick and mortar branches during 2013-15. As per the Reserve Bank of India (RBI), the number of functioning branches of scheduled commercial banks in Odisha is 3,472.
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FIPB receives application from Axis Bank
Foreign Investment Promotion Board (FIPB) received an application from Axis Bank for hiking its foreign shareholding limit. As on June 30, 2013, the foreign shareholding in the bank stood at 48.96 percent. This includes inve
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Govt wooes American investment in infra fund
The Indian government wooed American firms and other entities to invest in infrastructure debt fund (IDF). Recently, Commerce and Industry Minister Anand Sharma discussed the matter with his US counterpart Michael Froman. Specifically, Sharma sought investments from US pension funds and insurance firms in IDF. In June 2013, gove
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Govt wooes American investment in infra fund
The Indian government wooed American firms and other entities to invest in infrastructure debt fund (IDF). Recently, Commerce and Industry Minister Anand Sharma discussed the matter with his US counterpart Michael Froman. Specifically, Sharma sought investments from US pension funds and insurance firms in IDF. In June 2013, gove
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Banks adequately capitalised despite rising bad loans
In its annual report, Reserve Bank of India (RBI) said the banking system is adequately capitalised despite the rising trend in the gross non-performing assets (NPA). The gross NPA rose to 4.4 per cent of the total advances by March 2014 from 3.42 per cent a year ago.
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Bank credit to infra sector rises
Bank credit to infrastructure sector rose over 100 times to Rs 786,045 crore in 2012-13 from Rs 7,243 crore in 1999-2000, Reserve Bank of India (RBI) said in its annual report. The report shows that credit exposure of banks to infrastructure sector has been deteriorating since 2011 owing to the economic slowdown and the emergence of sector-specific issues amid structural bottlenecks in the econ
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Govt to take steps to protect investors
With regard to the National Spot Exchange (NSEL) crisis, the government is planning to introduce all possible measures to ensure investors, particularly the small ones, get back their money. The government plans to disband the NSEL board, appoint an administrator and attach the exchange's prop
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Banks borrow Rs 473.1 bn through MSF window
From the Reserve Bank of India's marginal standing facility (MSF) window, the banks in India have borrowed Rs 473.10 billion ($7.4 billion). on August 19, higher than the Rs 458.65 billion on August 16.