At a meeting with the top officials of the Japan International Cooperation Agency (JICA), Tamil Nadu Chief Minister J Jayalalithaa sought the agencyÂ’s support to fund business and infrastructure projects in the state. Akihiko Tanaka, President of JICA met Jayalalithaa in the Secretariat recently. During the meeting, the chief minister is learnt to have asked the president to create a separate line of credit to support private companies part
Category: Infrastructure Finance
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JICA gets request from TN govt for funding support
At a meeting with the top officials of the Japan International Cooperation Agency (JICA), Tamil Nadu Chief Minister J Jayalalithaa sought the agencyÂ’s support to fund business and infrastructure projects in the state. Akihiko Tanaka, President of JICA met Jayalalithaa in the Secretariat recently. During the meeting, the chief minister is learnt to have asked the president to create a separate line of credit to support private companies part
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Consultants invited for Rs 231 bn metro rail project
In order to conduct a detailed study on the Rs 23,136-crore Colaba-Bandra-Seepz Metro line-III project, the Mumbai Metro Rail Corporation is in the process of roping in a consultant. The prospective consultant would study the project in various angle including the environmental issues and submit the report to the state government, agency reports indicate
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Govt to set up EGoM to decide on new FDI policy
In order to revamp the foreign direct investment (FDI) policy of the country, the government may set up a Empowered Group of Ministers (EGoM). The proposed EGoM may study the Arvind Mayaram committee report, which has suggested a major change in the FDI regime. Mayaram is secretary, economic affairs department, union government
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Govt to set up EGoM to decide on new FDI policy
In order to revamp the foreign direct investment (FDI) policy of the country, the government may set up a Empowered Group of Ministers (EGoM). The proposed EGoM may study the Arvind Mayaram committee report, which has suggested a major change in the FDI regime. Mayaram is secretary, economic affairs department, union government
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Centre okays 16 FDI proposals worth Rs 1,646 cr
The Union government on June 18 stated that it has cleared 16 foreign direct investment (FDI) proposals worth Rs 1,646.87 crore. Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on May 10, 2013, the government has approved the 16 proposals of FDI. The largest money flow of Rs.961.74 crore is related to acquisition of stakes by foreign promoters in Chennai-based Vijay Television.
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IIFCL MF launches maiden IDF
IIFCL Mutual Fund recently launched its maiden infrastructure deft fund (IDF) scheme , which will undertake investment in debt securities or securitised debt instruments of infrastructure companies. It would also cater to infrastructure capital companies or infrastructure projects, special purpose vehicles and
bank loans
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Dena Bank to strengthen presence in eastern regions
Ashwani Kumar, Chairman and Managing Director of the state-run Dena Bank said the bank decided to set its footprint in the eastern part of the country especially in West Bengal and Bihar. The state-run bank, which is predominantly present in the western part of the country, is turning to east as the region appears less crowded and shows opportunity
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Rates on CDs remain above 8%
Owing to the outflow of corporate advance tax from the banking system, rates on the Certificates of Deposit (CDs) are ruling high above 8 percent, media reports indicate. The first instalment of corporate advance tax is due on June 15. Advance tax outflow has strained liquidity in the banking system with banks borrowing about Rs 85,000 crore on an average under RBIÂ’s liquidity adjustment facilit
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Nationalised banks post lower RoA than private banks
According to a study, the return on assets (RoA) of nationalised banks was lower than that of private banks during 2010-13. Further, state-run banks lost market share by 1.3 per cent over the last four years to private and foreign banks, the study shows. Nationalised banks lost 0.5 per cent and SBI 0.8 per cent of the market share. As far as private sector banks are concerned, the new private banks (NPBs)gained market share by 1 per cent and the old private banks (OPB