Considering the rise in the cost of funds for the infrastructure sector, Srei Infrastructure Finance raised benchmark lending rate by 50 basis points. Thus, the new benchmark rate stands at 18 per cent per annum effective from September 1, 2013 compared to the earlier rate of 17.50 per cent.
Tag: 2013
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IFC Mulls new Bank Licence
The private sector investment arm of World Bank, International Finance Corporation (IFC) is looking out to partner with aspirants for new bank licences, as it increases its investment in India to $2 billion this year.
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Economic Growth Recovery Later in FY14
In its Annual Report 2012-13, Reserve Bank of India (RBI) said the economic growth may recover later in 2013-14 if government delivers better administration, eases supply constraints and maintain stability.
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Nabard Fund for Gujarat Agri-Infra
Under its Rural Infrastructure Development Fund-XIX (RIDF-XIX), the National Bank for Agriculture and Rural Development (Nabard) has sanctioned Rs 175.74 crore to Gujarat.
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Free Zone Lures Indian Investors
As Middle Eastern ports vie for Indian transhipment trade, UAE-based Ajman Free Zone (AFZ) has recently expanded its footprint into India in alliance with AFZA International Pvt Ltd. Free Zones in the UAE and the neighbouring region have been luring Indian companies to establish trade hubs in their tax-free economic zones attached to ports.
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Port Modernisation
The Union Government has taken up modernisation and expansion of 43 port projects at a cost of Rs 12,000 crore to add about 220 million tonne capacity to the ports. The capacity of all major ports was 744.91 million tonne per annum as on
31 March 2013.
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Essar, TPG Capital in Race for Karaikal Port
To acquire a majority stake in Karaikal Port in Tamil Nau, Essar Ports and US private equity giant TPG Capital are in the fray to acquire a majority stake in
Karaikal Port. The port is a subsidiary of debt-ridden Chennai based Marg Group.
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Major Ports Handle 184.53 mt Cargo
The government-owned 12 major ports in the country totally handled 47.38 million tonne cargo in the last July. In the month, the volume of iron ore and containers handled at these ports registered a decline.
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RITES Consultant to new AP Port Project
A subsidiary of Indian Railways, RITES has been appointed as the consultant for preparing the techno-economic feas¡bility report for the new major port at Dugarajapatnam in Andhra Pradesh with a three month time limit for submission of the report, said the Union Minister of Shipping GK Vasan
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Chennai Port Container Terminal
The Chennai Port Trust is to convert the Jawahar Dock (East) berth into a small container terminal to handle around 800,000 TEUs a year. The berth was used to handle coal till a few years back, but has been lying unused after coal handling was shifted to Ennore port