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
Category: Infrastructure Finance
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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.
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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.
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Regulatory fund for coal
The Central Government would set up a fund called "The Coal Regulatory Authority Fund" to credit all grants, fee and charges received by the authority. After passing of the Coal Regulatory Authority Bill, 2013, details would be worked out and submitted to the
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RBI keeps CRR unchanged
A resolute Reserve Bank of India (RBI) refrained from reducing policy repo rate in its mid-quarter review of monetary policy on 17 June 2013 citing the persistently high food inflation even though general inflation has declined.
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Dena Bank to strengthen in east
Ashwani Kumar, Chairman and Managing Director of Dena Bank said the bank decided to strengthen its footprint in the eastern part of the country especially in West Bengal and Bihar.
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Road concessionaires allowed to sell out projects
In the highway sector, the Union government paved the way for developers to exit projects in between by diluting equity in favour of an interested company.
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Bajaj Finserv mulls entry into banking business
Media reports indicate that Bajaj Finserv is one of the non-banking finance companies (NBFCs) that applied for a banking license with the Reserve Bank of India (RBI). Bajaj Finserv is the holding company for the financial services businesses of the Bajaj Group. After getting license, the holding firm plans to convert the assets of its subsidiary Bajaj Finance - also known as Bajaj Finserv Lending - into a bank, reports indicate
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World Bank gives $84 mn loan for Bihar project
An agreement for credit of $84 million (equivalent) from World Bank for the Bihar Panchayat Strengthening Project was signed. Nilaya Mitash, Joint Secretary, Department of Economic Affairs, Ministry of Finance signed on behalf of Government of India and Michael Haney, Operations Advisor, World Bank, India on behalf of the World Bank. On behalf of Government of Bihar, Amitabh Verma, Principal Secretary, Department of Panchayati Raj signed the
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Lenders approve restructuring of Electrosteels’ debt
Kolkata-based Electrosteel Steels, which produces DI pipes and casting, may not have much difficulty in restructuring its Rs 7,000 crore loan as the consortium of 27 lenders are open to recast it provided some conditions are fulfilled. The firm produces and supplies ductile iron (DI) pipes and fittings and is three-star export house. It was the first domestic company to set up a ductile iron pipe plant apart from pioneering manufacture of alloy steel cast