Finance Sector Legislative Reforms Commission (FSLRC) recently submitted a draft Indian Financial Code Bill which contains 450 clauses and six schedules. The code was submitted to give effect to its recommendations on the financial architecture of the country. Among various recommendations of the panel, the prominent one is the setting up of a Unified Financial Agency (UFA) by merging several regulators such as Sebi,
Tag: investment
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Loan book of SKS may double in 2013-14
Some analysts expect the loan book of SKS Microfinance to double to Rs 3,000 crore by the end of 2013-14 from Rs 1,500 crore levels in 2012-13 even in the absence of fresh lending in Andhra Pradesh. The loan book of the company is expected to double on the back of its geographical expansion. The company has increased its presence in states such as UP, Rajasthan, Gujarat, amongst others and this may drive growth
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Loan book of SKS may double in 2013-14
Some analysts expect the loan book of SKS Microfinance to double to Rs 3,000 crore by the end of 2013-14 from Rs 1,500 crore levels in 2012-13 even in the absence of fresh lending in Andhra Pradesh. The loan book of the company is expected to double on the back of its geographical expansion. The company has increased its presence in states such as UP, Rajasthan, Gujarat, amongst others and this may drive growth
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Goa govt prepares draft investment policy
Goa government prepared a draft investment-cum-industrial polic, which laid a special thrust on development of Special Investment Regions (SIRs). The SIRs will attract large investments, economies of scale and world class infrastructure arrangements. SIRs involves special areas demarcated for development with their own industrial, social and urban infras
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RIL to drill probe well in KG D6
Niko Resources informed that its partner Reliance Industries (RIL) has spud its first exploration well in more than five years on the flagging natural gas fields in KG-D6 block. Niko is the minority partner of RIL in the Krishna Godavari basin block. RIL has spud the MJ-1 exploration well on the Dhirubhai-1 and 3 gas fields in the KG-DWN-98/3 or KG-D6 block in its efforts to explore new reserves to supplement falling
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RIL produces 1.58 tn cubic feet of gas till March 2012
Minister of State for Petroleum Panabaaka Lakshmi informed Lok Sabha that the actual cumulative natural gas production at Reliance Industries' (RIL) D-1, D-3 fields of KG D6 Block up to March 31, 2012, was 1.584 trillion cubic feet against the projected 2.030 trillion cubic feet. The decline in output in 2011-12 is attributed to water or sand ingress in six out of the total 18 gas producing wells in the D-1 and D
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Firms make 118 discoveries in 39 NELP blocks
The Minister of Petroleum & Natural Gas M Veerappa Moily informed Lok Sabha that so far, a total of 118 discoveries (45 oil and 73 gas) have been made in 39 New Exploration Licensing Policy (NELP) blocks. This resulted in establishment of In-Place oil volume of 39.76 million metric tonne (mn t) and gas volume of 705.36 billion cubic meter (BCM) respectively. He added that a total of 360 exploration blocks were offered unde
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Consortium may lend Rs 7 bn to Dighi Port
A consortium of banks led by Bank of India would reportedly lend Rs 700 crore for the infrastructure project proposed to be carried out by Vijay Kalantri-promoted Dighi Port. The project, which is estimated to cost Rs 1,000 crore, includes setting up a new berth and road and rail infrastructure at the port. The remaining cost would be met by the promoters, reports indicate
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SEEPCO, ONGC may close $2 bn oil and gas deal
Sterling Energy and Exploration Production Company (SEEPCO) may sell its 25-30 percent stake in four hydrocarbon blocks in Nigeria to ONGC Videsh, the overseas arm of Oil & Natural Gas Corp (ONGC). The value of the deal, which is not yet finalised, is expected to be $2 billion. Both the companies entered into a confidentiality agreement for the deal and OVL is reportedly conducting due
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ONGC to invest Rs 40.5 bn on 2 projects
At a recent board meeting, the state-run energy explorer ONGC decided to invest over Rs 4,050 crore to upgrade Western offshore facilities (on the Arabian Sea) through two major projects. The first project includes revamp of Unmanned Platforms Phase – II in Mumbai High and Neelam & Heera Asset. The total revamp job is expected to be completed by pre-monsoon 2016