In order to raise funds for key transport projects in city, Mumbai Metropolitan Region Development Authority (MMRDA) proposed a new cess, known as betterment tax, to be imposed on citizens residing along or in the vicinity of the upcoming projects. The idea is at the proposal stage and it awaits the approval of the state government. The state urban development department would finalise a blueprint for this
Category: Infrastructure Finance
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RBI study favours anti-inflation policy
Citing a study, Reserve Bank India (RBI) said it cannot pursue a policy of higher inflation tolerance as the means to lower real rates because beyond a threshold, the negative impact of inflation on growth outweighs its positive impact. Although the study points to empirical evidence that lower real interest rates can stimulate growth and investment, it does not recommend a policy of higher infla
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RBI study favours anti-inflation policy
Citing a study, Reserve Bank India (RBI) said it cannot pursue a policy of higher inflation tolerance as the means to lower real rates because beyond a threshold, the negative impact of inflation on growth outweighs its positive impact. Although the study points to empirical evidence that lower real interest rates can stimulate growth and investment, it does not recommend a policy of higher infla
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KVB may issue shares to raise capital
In order to ramp up its capital base, Karur Vysya Bank is considering to issue shares worth Rs 1,000 cr in one or more tranches through qualified institutional placement (QIP) route. Alternatively, the bank, which was set up in 1916 by MA Venkatarama Chettiar and Athi Krishna Chettiar, may raise the investment cap for the FII upto a limit of 40 per
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Firms look to raise funds from abroad
Media reports indicate that several companies, including Reliance Industries (RIL) are taking efforts to raise debt in dollar. Other firms who want to raise dollar funds include Essar Steel, Adani Enterprises and JSW Steel, reports indic
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RBI to provide Rs 330 bn as dividend to govt
For the accounting year July-June 2012-13, the Board of Reserve Bank of India agreed to provide Rs 33,010 crore as dividend or surplus profit to the government. Market participants expected a dividend payout of Rs 33,000-35,000 crore. The RBI follows a July to June accounting year. In the previous year, it paid a dividend of Rs 1
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RBI to provide Rs 330 bn as dividend to govt
For the accounting year July-June 2012-13, the Board of Reserve Bank of India agreed to provide Rs 33,010 crore as dividend or surplus profit to the government. Market participants expected a dividend payout of Rs 33,000-35,000 crore. The RBI follows a July to June accounting year. In the previous year, it paid a dividend of Rs 1
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S&P expects banks’ performance to be under stress
A report from Standard & Poor’s (S&P) warned that the declining asset quality of banks in India would affect their performance adversely. Recently, the global credit rating agency released the report titled “Slack Economic Growth Dents Recovery Prospects for Indian Bank. In the next 18-24 months, the Indian banking sector may not recover because of sluggish economic activity and
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S&P expects banks’ performance to be under stress
A report from Standard & Poor’s (S&P) warned that the declining asset quality of banks in India would affect their performance adversely. Recently, the global credit rating agency released the report titled “Slack Economic Growth Dents Recovery Prospects for Indian Bank. In the next 18-24 months, the Indian banking sector may not recover because of sluggish economic activity and
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FSDC panel discusses stability of financial system
The sub-committee of Financial Stability and Development Council (FSDC), chaired by RBI Governor D Subbarao met recently to discuss potential risk to stability of the domestic financial system. The sub-panel expressed concern on the deteriorating asset quality of public-sector banks and discussed corrective measures for