Some analysts feel that SKS Microfinance has good business prospects as it revamped its business model following the crisis in the microfinance sector in Andhra Pradesh. The microfinance institution (MFI), which was incurring loss since early 2011, posted profit after a long gap in December 2012 quarter.
Category: Infrastructure Finance
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Govt to aid small towns under JnNURM
The government may provide funding for procuring buses by small cities with a population of less than 10 lakh under the the Jawaharlal Nehru National Urban Renewal Mission (JnNURM), reports indicate. Under the mission, so far the government was funding only cities with population of at least 10 lakh. But sources from the union urban development ministry infor
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PEs prefer completed commercial properties
Industry analysts feel that private equity funds prefer to invest in completed commercial real estate projects instead of taking risk by investing in new projects. Some experts opine that funds are smartly mitigating their risks by investing in completed properties like IT parks rather than investing in projects starting from scratch
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Govt spends Rs 26 bn under JNNURM in Faridabad
Under the Jawaharlal Nehru National Urban Renewal Mission, Rs 2,679 crore is being spent for the development of Faridabad, Haryana Chief Minister Bhupinder Singh Hooda said. He said this at a function organised by Faridabad Industries Association (FIA) in the town. The National Highway-2 was being widened and an Industrial Model Town
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L&T Finance may not be able to set up NOFHC
L&T Finance Holdings, which aspires to set up a banking business, may not be able to set up a non-operative financial holding company (NOFHC) as mandated by the Reserve Bank of India (RBI) because its public shareholding is below 51 per cent. According to the clarification issued by the central bank on new bank license norms, private players aspiring to enter the banking space need to create a NOF
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NPAs of state-run banks rise in FY13
Owing to high interest rate and slowdown in the economy, non performing assets (NPAs) with the public sector banks (PSBs) rose about 90 basis points year-on-year during 2012-13. However, their peers in the private sector managed to avoid rise in NPAs because of better risk management and low exposure to risky
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Norms for gold imports tightened further
By imposing restrictions on the agencies concerned the Reserve Bank of India (RBI) has further tightened the norms for import of gold. The Central bank has said these entities can import gold on a consignment basis only to meet genuine needs of gold jewellery exporters. Industry experts said the measures announced on June 4 would dampen gold imports, which might come down by 100-120 tonne during the current financial year.
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Experts call for banking operation in unbanked areas
Experts feel that the initiative of the Reserve Bank of India (RBI) to provide new banking licenses must promote banking in the under-banked areas of the country. They feel that residents in the under-banked areas are, for the most part, dependent on shadow-banking operators because of the formal banking sector's failure to give them access
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SBI to take Rs 2 bn hit due to provisioning norms
Pratip Chaudhuri, Chairman of State Bank of India (SBI) informed that the total impact of Reserve Bank of India (RBI)Â’s revised norms on provisioning for non-performing assets (NPAs) and restructured loans would be about Rs 200 crore a year. He said this would be less than 1 per cent on a PBT (profit before tax) basis and hence it may not have a significant impact on SBIÂ’s profitability
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Govt’s move may affect urban infra projects
The decision of the Kerala government to add new staffs to the team of the Kerala Sustainable Urban Development Project (KSUDP) is expected to go against the interest of the project. The new entrants to the project will have to study the entire project from the start and hence completing them within a time-bound manner will not be easy. This woul