Government proposed to infuse an amount of Rs 12,517 crore in Public Sector Banks(PSBÂ’s) to augment their Tier-1 capital in FY-2012-13. A sum of Rs 12,000 crore was infused during 2011-12 to enable them to maintain a minimum Tier-1 CRAR of 8 per cent. Performance of Indian banks during the year 2011-12 was conditioned to a large extent by fragile recovery of global financial markets as well as a challenging oper
Tag: finance
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Indian banking sector has less systemic risk
Industry players feel that the systemic risk in the Indian banking sector is muted because of the existence of many medium and small size banks. It may be noted that systemic risk arises when there are large-sized or too big to fail banks. However, in India, many banks are medium and small-sized and hence there is less risk of inter-connectedness, indu
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India Inc’s overseas borrowing rises in January
Data from Reserve Bank of India (RBI) shows that overseas borrowing of Indian companies rose to $3.51 billion in January from $1.15 billion in the previous month. The companies raised the amount through external commercial borrowings (ECB) and foreign currency convertible bonds (FCCB). In order to fund its projects, Power Grid Corporation of In India Inc raised over $ 3.51 billion from overseas markets in January through external commercial borrowings and foreign currency convertible bonds.
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Survey suggests govt to take steps to boost gas output
Economic Survey 2012-13 suggested government to take measures to boost natural gas output in the country. It may be noted that the average natural gas production in 2011-12 declined 1 percent to 130 million metric standard cubic metre per day from the previous year
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Banks may find it difficult to raise non-equity core capital
Crisil Ratings President Ramraj Pai opined that banks may find it difficult to raise Rs 1.4 trillion worth of non-equity-based tier-I capital, as mandated by Basel III norms, because of complexity involved in these debt instruments. According to Basel III norms, banks will have to raise
1.3 trillion as equity capital and up to Rs 1.4 trillion as non-equity tier-I capital
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JNPT files prospectus for Rs 20 bn bond issue
Securities and Exchange Board of India (SEBI) received a request from the Jawaharlal Nehru Port Trust (JNPT) to allow it to raise a maximum of Rs 2,000 crore through tax free bonds. Earlier, the union finance ministry allowed JNPT along with Dredging Corporation of India (DCI) and Ennore Port to raise collectively Rs 3,500 crore through tax free bonds
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MPT woos traders from north Karnataka
Mormugao Port Trust (MPT), which is in taking efforts to diversify its cargo handling away from coal, asked traders from north Karnataka to make use of the port. In order to woo traders, the port in association with Karnataka Chamber of Commerce and Industry (KCCI), Hubli
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Survey expects rebound in economy in 2013-14
The Economic Survey for 2012-13 expects the Indian economy to grow between 6.1 and 6.7 per cent in 2013-14, which is higher than the advance estimate of 5.0 percent growth in the current financial year. The survey has
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IIFCL works towards regular credit enhancement scheme
SK Goel, Chairman of India Infrastructure Finance Company (IIFCL) informed that the firm was working towards launching a regular credit enhancement scheme from April. According to the scheme, the financial institution would provide partial guarantee to bonds issued by infrastructure firms and this would improve the credit rati
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SBI lends Rs 62 bn to Visakhapatnam Steel Plant
Visakhapatnam Steel Plant borrowed Rs 6,200 crore from the State Bank of India (SBI) in order to finance its business expenditure. Speaking to reporters, Pratip Chaudhuri, Chairman of SBI said the bank's loan to the RINL “is the biggest contribution it is making to the industrial development of this