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.
Tag: India
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Moily says India to save $8.5 bn via Iran oil imports
By increasing crude oil imports from Iran, India plans to save over $ 8.5 billion in foreign exchange this fiscal, said the Union Petroleum and Natural Gas Minister Marpadi Veerappa Moily. Moily told this to Prime Minister Manmohan Singh in a written communication on August 30. India, which paid about $144.29 billion last fiscal for importing oil, is renewing imports from Iran and, unlike imports from other countries, it pays Iran in rupees.
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Signature Bridge
After being put on the backburner for some time, the Signature Bridge will come up over Yamuna river. Now a Chinese company, Jiangsu Steel Structure, a sub-contractor of Gammon-Construtora- Tensacciai JV, has been given the task of fabricating the 15,000 tonne steel pylon and deck girders.
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Investment: A legacy of perception?
An India-US Infrastructure Fund that was set up in 2010, but with the US recently lodging a formal complaint against India with World Trade Council on entry barriers to companies, things could be on wait-and-watch mode.
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Coal India to Develop Coal bed Methane Reserves
Union Minister of State for Coal Pratik Prakash Bapu Patil has said that Coal India CIL is pursuing development of coal bed methane (CMM) from its mining areas as it would be beneficial on mine safety as well as environment.
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Cairn India Hopeful of Securing Nod
Cairn India, which plans to invest $1.6 billion (around Rs 9,500 crore) over the next three years, is hopeful of securing mandatory clearances for additional exploration and production in its Rajasthan oil and gas fields.
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Coal Imports Jump
In the first four months of this fiscal, India's coal imports jumped 32 per cent. India imported 58.3 million tonne of coal between April and July, against 44.2 million tonne in the corresponding period last year.
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Crude Oil Output Dips
Indian oil refinery companies have imported 15.944 million tonne of oil in July against 14.594 million tonne in the same month last year as the domestic crude oil output has diminished.
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CIL plans Rs50 bn Investment
Coal India (CIL) has earmarked Rs 50 billion for capital expenditure on its domestic operation during 2013-14. Also, the monopoly coal producer made an ad-hoc provision of Rs 40 billion for acquisition of assets abroad
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IOCs LNG terminal at Ennore
By the end of 2013, Indian Oil Corp (IOC) plans to begin work on its liquefied natural gas (LNG) terminal project at Ennore near Chennai.