Ministry of Finance, Government of India, has decided to seek external assistance from the Multilateral Development Banks (MDBs) like Asian Development Bank (ADB) and the World Bank for rebuilding of damaged infrastructure in Uttarakhand. Loans from the MDBs would be passed on by Government of India to the state of Uttarakhand as 90 percent grant and 10 percent loan, since it is a special category state
Tag: investment
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Japanese investors prefer investment in India
According to a survey of 1,000 companies by Japan Bank of International Cooperation, India is seen as the second-most favoured destination for investment, after China. Japanese investors consider India as the most promising country for long-term investment, reports indicate. Of all Japanese investment in India, Tamil Nadu accounts for 40 per cent, data from the Japan Chamber of C
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OIL plans Rs 120 bn investment in North East till FY17
Sunil Kumar Srivastava, Chairman and MD of Oil India (OIL) informed reporters that the firm earmarked Rs 12,000 crore investment for its projects in North East out of the Rs 19,000 crore capital expenditure planned in the 12th Five-Year Plan. The company planned to invest Rs 19,000 crore on expansion of exploration work and diversification of business during 2012-
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Container traffic witnesses negative growth
According to some industry players, container traffic in the country is witnessing a negative growth. In this backdrop, it is not surprising that the Chennai Port Trust (ChPT) failed to get any response from bidders for its much-delayed Rs 3,686-crore mega box terminal project. Some industry players suggested ChPT to set up a multi-purpose berth-cum-cruise terminal instead of the cont
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RBI sells bonds worth Rs 140 bn in recent auction
Reserve Bank of India (RBI) sold Rs 140 billion worth bonds of various tenure on behalf of government. The central bank sold 2020 bond, 2025 bond, 2032 bond and 2035 bond through a recent auction. The central bank set a cut-off price of Rs 104.22, yielding 7.6598 percent for the 8.20 percent 2025 bond. For the 8.12 per cent, 2020 bond, the RBI set a cut-off price
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SIDBI to issue bonds, other instruments worth Rs 135 bn
In 2013-14, Small Industries Development Bank of India (SIDBI) plans to issue bonds and other instruments with a cumulative worth of Rs 13,500 crore to expand its business operation, agency reports indicate. The development bank would issue various instruments including bonds, Certificate of Deposits (CDs) and fixed deposits to raise the
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RBI panel calls for separation of business segments
A draft report of a Reserve Bank of India (RBI) panel suggested banks to separate the business segments of wealth management and and investment advisory services by creating a subsidiary. Further, the report, released recently, suggested that RBI must approve the creation of subsidiaries for this purpose. Such subsidiaries must be registered with the Securities and Exchange Board of India (SEBI), the report says
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PE investment declines in micro finance sector
Private Equity (PE) investors are said to be cautious in investing in micro finance institution (MFI) as is reflected in the fall in fund flows from these sources. The amount of PE deals in the MFI sector has been declining year after year with the calendar year 2012 witnessing only $104.5 million worth of deal compared to
$113.04 million in 2011 and $146 million in the previous year, data from VC Circle
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RBI gets 26 applications for bank license
Reserve Bank of India (RBI) is learnt to have received 26 applications for banking license from corporates, non-banking finance companies (NBFCs), microfinance institutions (MFIs) and other players. The country's leading corporates like Tata Sons, Aditya Birla Nuvo , L&T Finance Holdings, a unit of engineering major Larsen & Toubro Ltd are among the aspirants for new bank license, a statement by the RBI show
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FIIs sell Rs 323 bn worth of debt papers in June
Official data shows that foreign institutional investors (FIIs), who bought Indian debt instruments worth Rs 22,000 crore during Jan-May 2013, sold Rs 32,336 crore worth of such papers in June. The heavy selling of debt instruments by FIIs led to a fall in bond prices and rise in bond yields. Yield on the 10-year government bond rose to 7.46 per cent, from 7.11 a month ago. This led to a negative monthly return of 1-2 per