DK Mittal, Secretary, Department of Financial Services (DFS) informed that the finance ministry has sought the formal approval of the cabinet for infusing a total of Rs 12,000 crore capital into various public sector banks (PSBs). The department has already firmed up the list of 12 banks that would get capital support. The funds are likely
Tag: capital
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Ministry officials to discuss EPFO investment in IDF
Reports suggest that the officials of labour ministry and the finance ministry may soon discuss the issue of allowing EmployeesĂâ Provident Fund Organisation to invest in infrastructure debt funds (IDF). Presently, EPFO is not allowed to invest a part of its Rs 5 lakh crore corpus in the IDF. It is learnt that the organisation, through the labour ministry, has already begu
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PE firms offload stakes in realty projects
Reports suggest that private equity funds that invested in IndiaĂâs real estate sector during its best years in 2006 and 2007 are offloading their stakes in the projects. These funds are now looking to exit and return money to investors as they had an investment horizon of around five years. The latest to join the trend is Indiareit Fund Advisors whic
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Model agreement to protect investors’ interest
The model tripartite agreement (TA), cleared by the government for financing of infrastructure projects would secure the interest of investors, experts argue. In October 2012, the Cabinet Committee on Infrastructure cleared the model tripartite agreement whic
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Srei Infra to launch $500 mn infra debt fund
Hemant Kanoria, Chairman and Managing Director of Srei Infrastructure Finance informed that the firm would raise $500 million through its infrastructure debt fund. Srei would deploy the funds on the sub sectors which provide good regulatory clarity like toll roads, power transmission etc. The company would launch the fund through the MF route
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Srei Infra to launch $500 mn infra debt fund
Hemant Kanoria, Chairman and Managing Director of Srei Infrastructure Finance informed that the firm would raise $500 million through its infrastructure debt fund. Srei would deploy the funds on the sub sectors which provide good regulatory clarity like toll roads, power transmission etc. The company would launch the fund through the MF route
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Govt to decide on funding for state-run banks
Financial Services Secretary DK Mittal informed that the government would soon decide on allocation of funding to boost the capital base of public sector banks. He also said that boards of each of the banks that need capital would have to decide whether they want to infuse capital through a rights issue. Leading public sector banks that need capital infusion are
India
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Govt raises foreign investment limit in bonds
Government allowed foreign investors to invest up to $75 billion in Indian bonds compared to the earlier limit of $65 billion. The government raised this limit by allowing foreign investors to deploy an additional $5 billion each in corporate bonds issued by non-infrastructure companies and government bonds. Inves
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Issurers unsure of retail participation in bond issue
Issuers are not sure whether there would be sufficient participation from retail investors for their tax-free infrastructure bond issues in order to meet the regulatory requirement. According to government norms, issuers must raise at least 40 percent of the capital mopped up through public bond issue from retail
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Ramesh finds fault at microfinance model
Union Rural Development Minister Jairam Ramesh remarked that it is not possible to alleviate poverty through microfinance institutions (MFIs). In his valedictory address at the recently held Micro finance summit, the minister said one should be somehow more modest in the expectation of micro-finance and micro-finance institutions. To think that we are g