Reserve Bank of India (RBI) is learnt to have received 26 applications for banking license from corporates, non-banking finance companies (NBFCs), microfinance institutions (MFIs) and other players. The country's leading corporates like Tata Sons, Aditya Birla Nuvo , L&T Finance Holdings, a unit of engineering major Larsen & Toubro Ltd are among the aspirants for new bank license, a statement by the RBI show
Category: Infrastructure Finance
Post
Post
FIIs sell Rs 323 bn worth of debt papers in June
Official data shows that foreign institutional investors (FIIs), who bought Indian debt instruments worth Rs 22,000 crore during Jan-May 2013, sold Rs 32,336 crore worth of such papers in June. The heavy selling of debt instruments by FIIs led to a fall in bond prices and rise in bond yields. Yield on the 10-year government bond rose to 7.46 per cent, from 7.11 a month ago. This led to a negative monthly return of 1-2 per
Post
RBI includes 3 more sectors in infra category
Slurry pipelines and capital dredging projects would be eligible for concessional loan from banks as the Reserve Bank of India (RBI) brought these sectors under the ambit of infrastructure lending. Besides the above sectors, the central bank also brought telecom and telecommunications services under the infrastructure ambit. This will make loans cheaper to companies in these sectors.
Post
Bangladesh expects $5 bn investment from India
In the next three years, Bangladesh expects investment from India to double to $5 billion. The neighbour country signed agreements worth around $23 million in Mumbai on June 27. Now, with greater trade ties with India, Bangladesh want to attract more foreign direct Investment (FDI), Matlub Ahmad, president, India-Bangladesh Chamber of Commerce and Industry, said.
Post
RBI data shows slower credit growth in major sectors
Mirroring the continuing slowdown in Indian economy, bank credit to all major sectors, barring personal loans, continued to grow at a slower pace than last year, said the country's apex bank Reserve Bank of India (RBI) data. RBI's sectoral credit data said that personal loans showed a rise of 16.3 per cent in May this year, compared to 13 per cent in May last year.
Post
NMDC to decide on subscribing Legacy’s rights issue
Media reports indicate that National Mineral Development Corporation (NMDC) would decide on whether to participate in the rights issue to be offered by Legacy Iron Ore, in which the former holds 49.6 per cent stake. Legacy Iron Ore is the Australian arm of NMDC, which is the largest shareholder in the former. Some reports indicate that NMDC would acquire rights equivalent to its 49.6 per cent stake in Legacy Iron Ore by s
Post
Govt to develop financial markets to attract investment
Media reports indicate that the government may take steps to develop financial markets in the country, as part of its economic reform drive. In this regard, the government may launch financial instruments intended to encourage foreign sovereign wealth funds to invest long-term money in India. The Indian government is desperately trying to attract foreign investment into the Indian financial market in order to bridge the high current account defic
Post
Govt to develop financial markets to attract investment
Media reports indicate that the government may take steps to develop financial markets in the country, as part of its economic reform drive. In this regard, the government may launch financial instruments intended to encourage foreign sovereign wealth funds to invest long-term money in India. The Indian government is desperately trying to attract foreign investment into the Indian financial market in order to bridge the high current account defic
Post
Banks will get conservative in lending to infrastructure
Infrastructure developers won't really complain about the process of funding for their projects. Their problems remain getting the projects cleared for takeoff. BA Prabhakar, Chairman and Managing Director, Andhra Bank, speaking with Sumantra Das, explains the recent uncertainties and opportunities in infrastructure lending.
Post
State-run firms eye Brazilian field
State-run oil and gas companies in India plan to pool their resources to bid for the Libra field, located 180 km off the coast of Rio de Janeiro in the Santos basin, Brazil.