Oil and fertilisers were the only industries that witnessed a decrease
Tag: Bank of Baroda
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Deposits under Jan Dhan Yojana cross Rs.25,000 cr
Deposits in accounts opened under the governmentĆĀ“s ambitious financial inclusion scheme Pradhan Mantri Jan Dhan Yojana have crossed Rs.25,000 crore, the Finance Ministry said. A Ćāgood amountĆā has come to the banks as low-cost deposits, it said.
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Govt may hire experts in banking surveillance: Finance Ministry
The government could hire experts in banking sector surveillance, the Finance Ministry said, as it seeks to avoid incidents like the alleged Rs.6,000 crore scam at Bank of Baroda. ĆāWe need specialised expertise in surveillance and analytical algorithm,Ćā Minister of State for Finance Jayant Sinha said after a meeting with officials from public sector banks
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Rs.1.71 lakh crore for projects
In a meeting with the Finance Ministry recently, some 27 state-owned banks have agreed to extend credit of around Rs 1.71 lakh crore to non-conventional energy projects over the next five years.
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Looking East
While political differences may take a while to be ironed out, growing business collaborations between India and China are scripting a mutually benefiting story. China has shown keen interest to finance IndiaĆĀ“s infrastructure development
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Fundamentals revisited
Most banks have shown resilience, preventing further deterioration in asset quality in the fourth quarter. The same quarter also proved to be healthy in terms of recovery for most PSU banks
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Finally the Cure?
Long term financing has been ailing the infrastructure sector making alternate non-banking financing options like Infrastructure Debt Funds (IDFs) more viable. Rahul Kamat and Garima Pant explore the IDF environment in India. The yawning infrastructure gap in the country is seeking closure to unleash its locked growth potential.
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Finance blues will change as macroeconomic conditions change: Experts
Lending to the infrastructure sector expanded at a decent pace of 37 per cent CAGR during FY03-13. Lending to infrastructure sector as a part of overall industrial bank credit rose to 32.7 per cent of in FY13 from 10.6 per cent of FY03. Over the past five years, lending to power sector grew by a faster clip of 34 per cent CAGR.
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India Infradebt to issue Rs 5 bn worth debentures
In order to finance infrastructure projects, India Infradebt is in the process of issuing Rs 500 crore worth of debenture. The debenture was assigned AAA/Stable rating by CRISIL. ICICI Bank, Bank of Baroda, Life Insurance Corporation of India and Citicorp Finance (India) jointly promoted Infradebt as an infrastructure debt fund (IDF) in the non-banking financial company
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Banks need to remain focused on infra despite low demand currently
Correction in macro-economic fundamentals, the governmentĆā s efforts to resolve power and roads issues, and policies being formulated point towards a healthy future. SS Mundra, Chairman and Managing Director, Bank of Baroda, explains to Sumantra Das
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