Foreign Investment Promotion Board (FIPB) received an application from Axis Bank for hiking its foreign shareholding limit. As on June 30, 2013, the foreign shareholding in the bank stood at 48.96 percent. This includes inve
Tag: investment
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SAIL invests Rs 421 bn on capacity expansion plan
Till July 2013, state-run firm Steel Authority of India (SAIL) invested Rs 42,101 crore out of the proposed Rs 61,870 crore it plans to spend on modernisation and expansion of its existing facilities. Through this investment, the company plans to raise its crude steel production capacity to 21.4 million tonne per annum (mn tpa) from 12.8 mn tpa now
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Govt wooes American investment in infra fund
The Indian government wooed American firms and other entities to invest in infrastructure debt fund (IDF). Recently, Commerce and Industry Minister Anand Sharma discussed the matter with his US counterpart Michael Froman. Specifically, Sharma sought investments from US pension funds and insurance firms in IDF. In June 2013, gove
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Govt wooes American investment in infra fund
The Indian government wooed American firms and other entities to invest in infrastructure debt fund (IDF). Recently, Commerce and Industry Minister Anand Sharma discussed the matter with his US counterpart Michael Froman. Specifically, Sharma sought investments from US pension funds and insurance firms in IDF. In June 2013, gove
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Govt to take steps to protect investors
With regard to the National Spot Exchange (NSEL) crisis, the government is planning to introduce all possible measures to ensure investors, particularly the small ones, get back their money. The government plans to disband the NSEL board, appoint an administrator and attach the exchange's prop
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Centre receives proposals for monorail projects
The Tamil Nadu government sent a proposal to the central government for a Chennai City mono rail project. The state government decided to implement Phase 1 of the Chennai Monorail Project of a total length of 57.09 km
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Locals complain against Vizhinjam port project
Fishermen in the adjacent areas of the Vizhinjam port project in Kerala complained that the proposed project would threaten their livelihood. Fishermen raised their concerns at the recent public hearing of the environmental impact assessment report. Besides the concerns of the fishermen, complaints were also raised about the possible adverse impact or chan
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Rs 950 cr to be invested in Panna oil field
To produce more output in Panna oil field, an investment of Rs 950 crore is being invested jointly by the State-owned Oil and Natural Gas Corporation (ONGC) and its partners-Reliance Industries and BG Exploration and Production India. The consortium is to dig more wells in the fied. ONGC has a 40 per cent interest in the oil field. Recently, the output in Panna field has come down.
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Ministry allows sovereign funds to invest in tax free bonds
Media reports indicate that the finance ministry allowed sovereign wealth funds to invest in debt instruments floated by state-run companies. It may be noted that the government allowed 13 state-run firms to raise around Rs 48,000 crore by selling tax- free bonds in 2013-14. The fund would be used for infrastructure such as roads, ports and power plants
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Govt aims to limit CAD at 3.7% of GDP
In a bid to tackle volatility in the currency market, Finance Minister P Chidambaram said the government would work towards limiting the current account deficit (CAD) to 3.7 percent of GDP, or $70 billion in 2013-14.
Further, he said the deficit would be financed fully and safely. In order to restrict the current account deficit to 3.7 percent of GDP, government plans to control demand for impo