Amid the Reserve Bank of India's (RBI) tightening norms, overseas investment by Indian companies declined sharply to $1.94 billion in August. The RBI has clamped norms for outbound investments by the domestic firms to contain rupee slide. A month ago in July, the Indian firms had invested $ 3.24 billion in their various entities overseas.
Tag: August
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Paradip port handles 21% more cargo in Aug
During the last August, Paradip Port Trust (PPT) handled 5.91 million tonne (mt) cargo of imports and exports, compared with 4.88 mt handled in the same month last year, registering a growth of 21.07 per cent. The August figure is also 13.29 per cent higher than the target fixed for the month. During the month, 2.42 mt cargo was exported and 3.49 mt was imported through the port.
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SPML Infra secures new orders worth Rs. 1802.10 crores
SPML Infra Ltd., India's leading infrastructure development company has won new orders worth Rs. 1802.10 Crores from South Bihar Power Distribution Company Ltd. (SBPDCL), Bihar and Public Health Engineering Department (PHED) of Rajasthan.
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Rail freight traffic up
During April-June, Indian Railways has carried 256.79 million tonne (mt) of freight traffic as against 244.81 mt carried during the corresponding period last year, registering an increase of 4.89 per cent.
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Woman power at SBI
After Chanda Kochhar and Shikha Sharma, another woman is going to head a bank. Arundhati Bhattacharya has been appointed as the first woman Managing Director of SBI.
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Lanco to recast Rs 90 bn debt
In view of the challenging economic condition, Lanco Infratech approached corporate debt restructuring (CDR) cell to recast its Rs 9,000-crore debt. Of the Rs 9,000-crore debt, Rs 4,000 crore is fund-based exposure and Rs 5,000 crore non-fund-based.
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New definition of control
The Cabinet Committee on Economic Affairs (CCEA) has approved the proposal of the Department of Industrial Policy & Promotion for amendment to the existing definition of "control" under the FDI policy.
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Tata seeks waivers from Mundra UMPP lenders
Hit by higher price of imported coal and lower tariff realisation, Tata Power has sought 'certain waivers' from lenders to ensure further disbursements of loans to the 4,000 MW Mundra plant
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Viable IWT system in Kerala
The Kerala government intends to set up a commercially viable inland water transport system to move 20 per cent of cargo through waterways by 2020.
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New CMD of IDBI Bank
IDBI Bank got a new Chairman and Managing Director (CMD) after the post was lying vacant since May 31. MS Raghavan assumed the charge as CMD of IDBI Bank. Prior to the current assignment, Raghavan was the Executive Director with Bank of India (BoI),