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
Category: Infrastructure Finance
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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.
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Govt okays 18 single brand retail FDI proposals till May
Between April 2010 and May 2013, the Union government approved a total of 18 foreign direct investment proposals worth $173 million in the single brand retail sector, the Union Commerce and Industry Minister Anand Sharma told the Lok Sabha on August 20. Of these proposals, the government approved five proposals in the sector worth $137.68 million during the first two months of the current fiscal, the Minister added.
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Andhra Bank hikes base rate
Andhra Bank raised the benchmark lending rate by 25 basis points to 10.25 per cent from 10 per cent. Further, the state-run bank raised BPLR to 14.50 per cent from 14.25 per cent. In a communication to stock exchange, the bank said the rate hike would effectively raise lending rates for auto, corp
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RBI, govt must introduce more steps to meet deficit
Analysts opine that the government and the Reserve Bank of India (RBI) may require more effective measures to fight the current account deficit or balance of payments and fiscal problems. Though outward foreign investments have increased over the past few years, RBI's curbs will not mean much in actu
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Financial strength ratings of banks downgraded
International ratings agency Moody's downgraded the bank financial strength ratings or BFSRs and the issuer ratings of some state-run banks viz. Bank of Baroda, Canara Bank and Union Bank. Moody's also downgraded by one notch their local currency deposit ratings. While it affirmed the ratings of Union Bank of India, it changed the outlook on its BFSR to n
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WB to implement LPG direct cash trasfer from Jan
In West Bengal, the Direct Benefit Transfer (DBT) scheme for LPG consumers will be implemented from January 1st by transferring the subsidy directly to consumers' bank account in three districts - Kolkata, Howrah and Cooch Behar.