WhatĆĀ“s come as significant positives for the real estate sector are the announcements on affordable homes. One is the government according it infrastructure status, which means projects in that segment will be able to raise finance at a much lower cost.
Tag: HDFC Bank
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Building the Blocks
The importance of quality infrastructure and the development of an economy have an umbilical cord binding them and can never be seen in isolation. Broadly, infrastructure is the network of power, telecom, ports, airports, roads, civil aviation, railways, and transportation in a country and is the lifeline of the economy of a country.
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5/25 scheme may benefit projects with stable cash flows
We must understand project finance in the traditional sense. Project finance works only when all material approvals for a particular project are in place and the same is then handed over to a successful bidder like the bidding for UMPP was done in India. The bidder can then straightaway proceed for financial closure. This will ensure there are no time and cost over-runs on account of delay in approvals.
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HDFC wants to open 300 new branches, waits for RBI nod
Adding to its already existing branch network of 3,119, the Housing Development Finance Corporation (HDFC) Bank is to open 300 new branches across India despite the economic slowdown and a sluggish demand for credit. The bank said that the bank is waiting for the approval of the Reserve Bank of India over the new branches and is hoping to strengthen its presence in retail banking.
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Quick fix
A closed group discussion recently conducted by ASAPP Media in New Delhi focused on speedy solutions to give India Inc's $1 trillion infrastructure programme a big push. Shrikant Rao, who also moderated the discussion, reports.
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HDFC Bank hikes base rate by 0.2%
With effect from August 3, India's leading private sector lender HDFC Bank raised the base lending rate to 9.80 per cent from 9.60 per cent. The bank has reportedly raised interest rate on the back of RBI measures to contain volatility in rupee exchange rate and increase in short term deposit
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HDFC Bank profit up by 30% at Rs 1,843 cr
Private sector lender HDFC Bank on July 17 reported 30 per cent growth in net profit at Rs 1,843.86 crore for the first quarter ended June, 2013. The bank had earned net profit of Rs 1,417.39 crore in the April-June quarter of the 2012-13, HDFC Bank informed the Bombay Stock Exchange (BSE).
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Remove bottlenecks | budget 2013-14
Given the backdrop of a modest 5.5 per cent GDP growth expected in FY13 and uncertainties on a global economic recovery, Union Budget 2013-14 assumes immense importance. It is imperative to stimulate domestic demand, that too through infrastructure creation because of its huge multiplier impact in terms of creating new jobs, enhancing productive capacity of economy and promoting inclusive growth.
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Investing in risk assessment
Over the last two months, HDFC Bank recruited heads for four verticals, including infrastructure finance, to grow its investment banking business. Recently, several banks have been hiring up infrastructure experts, and as innocuous as the news may seem, it reflects a longer term goal to get specialised. As with most other lessons in India's infrastructure sector, the solution is reactive, not innovative. So banks have a job on their hands, and don't they know it.