Shriram Transport Finance Company (STFC) decided to raise Rs 2,000 crore by the way of non convertible debentures in 2013-14 in one or more tranches. The company said this while announcing earnings results for the entire financial year 2012-13. Its net profit rose 8 per cent to Rs 1,361 crore year on year during 2012-13
Category: Infrastructure Finance
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Govt supports dredging projects of major ports
Union Minister for Shipping GK Vasan informed the Lok Sabha that his ministry provides budgetary support to major ports to undertake capital dredging projects. He said the three major ports i.e. Chennai, Ennore and Vishakapatnam have navigational channel having more than 17 metre draft and are capable of handling larger vessels. Also, the government has been providing subsidy to meet the cost of maintenance dredging in Kolkata Port whi
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NMC to present Rs 23 bn budget for FY14
Nashik Municipal Corporation (NMC) would announce a Rs 2,539.95 crore civic budget for 2013-14 on May 14. It may be recalled that the standing committee of the civic body raised the size of the budget from the initial estimate of Rs 1,556.80 crore to Rs 2,359.95 crore. The committee revised the budget estimates by suggesting measures to increase the revenue of the civic body by Rs 803.15
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Transmission of RBI policy signals is asymmetrical
A research paper from Reserve Bank of India (RBI) shows that transmission of monetary policy signals to financial markets in India is asymmetrical. It is asymmetrical because the transmission is faster and persistent when the monetary system is in deficit mode, than when it is in expansionary phase, the paper argu
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PM wants ADB to devise novel ways for financing infrastructure
For the long-term infrastructure needs of the region, Prime Minister Manmohan Singh asked the Asian Development Bank (ADB) to introduce innovative instruments. Speaking at the multilateral lending body's annual meeting in New Delhi, Singh said the ADB must find innovative ways to channelise global savings into infra
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RBI head to tap all options to ease liquidity strain
Reserve Bank of India (RBI) Governor D Subbarao assured that the central bank would explore all the options available with it to ease liquidity strain in the banking system, including adjusting banksĂâ cash reserve ratio (CRR) or any other mechanism. He informed, during a post-policy conference call with analysts, that the central bank will not just limit itself to bond
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Railways takes steps to strengthen financial position
Railways have taken various measures to improve its financial condition, which inter alia, include rationalization of the fare and freight structure taking into account the cost of inputs, introduction of dynamic Fuel Adjustment Component (FAC) in its tariff, proposed setting up of rail Tariff Regulatory Authority (RTRA), prioritizing the projects for better resources utilization, setti
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IMF deputy head expects 5.8 per cent economic growth
In 2013-14, the Indian economy may expand 5.8 per cent and in 2014-15 it may grow 6.3 per cent, Naoyuki Shinohara, Deputy Managing Director of the IMF said. This compares to an average growth rate of 8.7 per cent for the five years prior to the global financial crisis, he said
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IMF deputy head expects 5.8% economic growth
In 2013-14, the Indian economy may expand 5.8 per cent and in 2014-15 it may grow 6.3 per cent, Naoyuki Shinohara, Deputy Managing Director of the IMF said. This compares to an average growth rate of 8.7 per cent for the five years prior to the global financial crisis, he said
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ADB commits $10 bn for projects in India
Takehiko Nakao, the new President of the Asian Development Bank (ADB) informed that the multilateral lending agency would maintain its annual lending at $10 billion (Rs 54,000 crore) to India over the next three years. He said this to media persons at the end of the ADB's 46th annual meeting in New Delhi. He also informed that the bank was facing resource constraints and it wou