Media reports indicate that the union cabinet would soon decide on clearing the Rs 37,230 crore refinery project at Barmer, Rajasthan. It is learnt that the central government prepared a note for the cabinet on this project, which is promoted by the state-run Hindustan Petroleum Corporation (
Tag: Cabinet
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Cabinet approves Rs 231 bn Mumbai metro line project
The Rs 23,136 crore Mumbai Metro line-3, which would link Colaba, Bandra, Santacruz Electronics Export Processing Zone, received approval from the union cabinet recently. The cabinet also approved the plant to set up a joint venture between the centre and Maharashtra government with equal shareholding between them. In line with the Delhi, Bangalore, Chennai and Kochi metro projects, the present special purpose vehicle (SPV), calle
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Govt subsidy burden may rise due to gas price hike
Even as the union cabinet decided to double the price of domestically produced natural gas to $8.4 per mmbtu from the present $4.2 mmbtu, experts are debating the pros and cons of such a move. Some experts feel that the the move would raise the subsidy burden of the central government. Some reports indicate that the centre's annual subsidy bill will rise by at leas
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Kerala govt to take up Rs100 bn road projects
The Kerala state cabinet cleared the proposed road or flyover projects across the state under an ambitious Rs 10,000-crore programme. The state government would create a Road Development Fund Board to undertake the projects. The board would implement the projects by taking loan, which would be guaranteed by the state government
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SBI expects credit to grow a maximum of 16%
Pratip Chaudhuri, Chairman of State Bank of India (SBI) informed that the bank may achieve a deposit growth of 14 -16 per cent and a loan growth of a maximum 16 percent in 2013-14. In 2012-13, the largest public sector bank posted 15 per cent and 21 per cent growth in deposits and adva
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SBI sees relief in exposure to steel firms
In an interview to a leading media, Pratip Chaudhuri, Chairman of State Bank of India (SBI) said the bank's entire exposure to the steel sector which were either NPA or restructured have now become standard. The stress on the bank's asset in this sector got reduced because of improvement in the supply of raw material to steel companies. It may be noted that the sup
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Home loan borrowers shift lenders
Media reports indicate that several home loan borrowers have moved their loans to banks that are offering lower rates (especially SBI) owing to cost advantage. The movement of existing home loan borrowers from one bank to another is happening at a time when the overall growth for the industry is flat, some analysts opine. A sha
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SBI gets Rs 30 bn capital infusion from govt
In a move that raised the shareholding of government in State Bank of India (SBI) to 62.31 per cent from 61.58 per cent, the centre infused Rs 3,004 crore capital into the bank. The countryĆās largest lender, in return, alloted 12.9 million preferential equity shares at Rs 2,312.78 a share to the government
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Kolkata Port awaits centre’s nod for Rs 78 bn project
Kolkata Port Trust Chairman RPS Kahlon informed that the port was awaiting cabinet approval from the centre for the Rs 7851 crore Sagar port project in West Bengal. The West Bengal cabinet had approved the project and Kahlon expects the union cabinet to clear it soon
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Cabinet gives in principle nod for Rs 385 bn road projects
In order to cover unconnected habitations in Naxal-affected districts and areas of Arunachal Pradesh bordering China, union cabinet gave "in principle" approval for Rs 38,500 crore road projects. These projects would be implemented in 82 Naxal-affected districts where the population is 100 persons and above (as per the 2001 census) and areas of Arun