Banks have been asked by the union finance ministry to disburse loan to road projects developers who have acquired 80 per cent of the required land instead of the existing norm of 100 per cent.
Tag: finance
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Govt to introduce new norms for CPSE investment
The government is rationalising and consolidating the existing norms on the investment of excess cash by the Central Public Sector Enterprises (CPSEs). A committee appointed to review the investment norms for CPSEs submitted its report the finance ministry.
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Instrumental in growth
Yogesh Dhingra is Chief Operating Officer and Finance Director (COO & FD) of Blue Dart Express. He has been with Blue Dart for over 20 years with an overall experience of 28 years across diverse industries.
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HUDCO to give loan for SDA’s projects
At a high level meeting between the officials of Srinagar Development Authority (SDA) and Housing and Urban Development Corporation (HUDCO), it was decided that the former would seek loan from the latter for construction of houses and other projects. The SDA decided to seek financial assistance from HUDCO given the mounting demand for apartment-type housing and in view of the escalating land costs in Srin
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Tripura CM discusses need to expedite infra projects
During a meeting with Planning Commission Deputy Chairman Montek Singh Ahluwalia, Tripura Chief Minister Manik Sarkar discussed the need to expedite critical infrastructure projects in the state. Sarkar informed Singh that some of the critical infrastructure projects likely to be implemented by the central government in the state are behind schedule. The chief minister met the Planning Commission chief to decide the annual plan outlay for state, which was
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AP govt to ask centre to allot Rs 220 bn for JNNURM-2
Andhra Pradesh Chief Minister N Kiran Kumar Reddy said he would ask the central government to allot Rs 20,000 crore under Jawaharlal Nehru National Urban Renewal Mission-2 (JNNURM-2). Reddy is learnt to have discussed this at a meeting of the state-level steering committee (SLSC). The centre may launch the
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ECB facility may promote affordable housing projects
Industry players expect the Reserve Bank of India's (RBI) move to allow real estate developers raise funds from External Commercial Borrowings (ECB) would increase the supply of low-cost houses. It may be recalled that the central bank allowed developers and housing finance companies to raise a maximum of $1 billion for affordable housing
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$600 mn infra fund to be launched by IL&FS, Stanchart PE
A new infrastructure fund would be launched jointly by Standard Chartered Private Equity and IL&FS Investment Managers with a corpus of around $600 million. This is the second fund being launched jointly by both the firms. The new fund may consider investing in Middle East nations besides investing in Indian
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Minister highlights difficulty in passing financial laws
Finance Minister P Chidambaram remarked that it was very complex and difficult to pass financial sector laws by a coalition government. He mentioned the case of the Companies Bill, which was cleared by the Lok Sabha and is awaiting the nod of the Rajya Sabha. He said this while addressing the third national seminar on ‘India Financial Code’ organised by the Institu
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Muthoot Group to consider banking venture
Muthoot Group may consider foraying into the banking sector if it feels that such an exercise would be a strategic fit with existing lines of business, Alexander George Muthoot, Director, Muthoot Group said.
The gold-loan non-banking finance company (NBFC) may take up the banking business if the RBI gives a separate licence for the bank based on the work it did