Media reports indicate that the various businesses of Reliance Industries (RIL) may get Rs 179,000 crore investment in the next five years. Of the total amount, the firm may invest about Rs 151,000 crore towards core oil, gas, refining and petrochemical sectors in the next five years; the rest would go towards the t
Tag: investment
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IIFL gets Rs 628 crore commitment for AIF
The IIFL Income Opportunities Fund of the diversified financial company India Infoline received commitment of Rs 628 crore. The IIFL Income Opportunities Fund is an alternate investment fund (AIF) of the company and according to the company press release it is the country's largest AIF fund raising till
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RBI has not received any application for banking license
Union Minister of State for Finance Namo Narain Meena informed Rajya Sabha that as on date no application for licence under the new banking guidelines was received and no licence has been granted under these new guidelines. On February 22, the central bank released ‘Guidelines for Licensing of New Banks in Private Sector’ to promote financial inclusion and further infuse comp
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Global investors expect rupee to strengthen
Some international investors feel that the Indian rupee may appreciate against dollar in the coming months helped by the fall in domestic inflation and possible improvement in the current account deficit. Investment analysts expect current account deficit to improve on the back of benign commodity prices in the in
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Kerala govt begins work on Rs 20 bn corridor project
Work on the Rs 2,000 crore coastal corridor project to link Vallarpadam with Kozhikode in Kerala began with the state Chief Minister Oommen Chandy inaugurating it recently. The corridor is expected to bring about tremendous development to the coastal belt and it involves upgradation of the existing Tipu Sultan Road
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Govt officials not in favour of limiting FII investment
Government officials are not in favour of the proposal of Reserve Bank of India (RBI) to restrict the investment of foreign institutional investors (FIIs) to the secondary market. At a recent meeting, Department of Economic Affairs Secretary Arvind Mayaram, discussed the issue with
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Companies raise more funds via foreign bonds
Media reports indicate that Indian companies raised funds through bond issue almost three times more in Jan-Mar 2013 from the previous quarter. Data from an international media shows that Indian companies sold $6.3 billion of bonds abroad during Jan-Mar 2013, almost triple that of the previous quarter.
Com
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RBI to issue clarification on bank licenses
Sources from the Reserve Bank of India (RBI) informed that some entities raised queries on the guidelines for new bank licences and the central bank would issue clarification on this by the early part of May. It may be recalled that in February 2013, the central bank released guidelines for new bank licences and a
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UP govt takes steps for Kanpur airport project
Uttar Pradesh government urged its officials to expedite the preparation of an action plan for the proposed new airport project in Kanpur. The state government plans to find a land in Kanpur Dehat district for the project. Further, the state chief secretary Ja
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FM hopes Indian economy would get back to 8% growth
Finance Minister P Chidambaram remarked that the Indian economy is poised for a potential growth rate of 8 per cent and the country has not fixed the limit to foreign investments. While attracting investors from Canada and the USA, he said the Indian economic downturn is a temporary phenomenon. Between 2004 and 2012, India had a growth rate of 8 per cent for six years and four