To repair over 900 kilometres of roads in Chhattisgarh state, the Asian Development Bank would provide $300 million loan to the State government, the Bank said in statement on December 11. The project would include works such as expanding roads for two-laning, building new sections, construction and strengthening of culverts and brigdes.
Tag: loan
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NHB, ministry devise plan to protect bank loans to housing projects
Reports suggest that National Housing Bank (NHB) and finance ministry are devising a plan to prevent loans given by banks for projects which are stalled from turning worthless assets. According to the plan, the ministry wants public sector banks (PSBs) to transfer such projects to ARCs against securitisation (against future cash flows of the projects) and l
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MFIs asked to charge rates in sync with borrower ability
Prime Minister's Economic Advisory Council Chairman C Rangarajan suggested micro finance institutions (MFIs) to charge interest rates according to the repayment ability of borrowers. He remarked that fixing the interest rate independent of the repaying capacity of the borrower is asking for disas
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Gross NPAs of state-run banks rise
Minister of State for Finance Namo Narain Meena informed Lok Sabha that the gross non-performing assets (NPAs) of public sector banks have increased from 2.28 per cent in March 2010 to 4.01 per cent in September 2012. During the same period, the gross NPA (as a percentage of gross advances) of SBI Group, rose from 2.82 per cent in March 2010 to 5.16 per cent in September 2012,
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Ministry officials to discuss EPFO investment in IDF
Reports suggest that the officials of labour ministry and the finance ministry may soon discuss the issue of allowing EmployeesĆā Provident Fund Organisation to invest in infrastructure debt funds (IDF). Presently, EPFO is not allowed to invest a part of its Rs 5 lakh crore corpus in the IDF. It is learnt that the organisation, through the labour ministry, has already begu
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Firms seek debt recast for 2nd time
More and more companies are applying for second round of corporate debt restructuring (CDR) because of their inability to service loans, a report by brokerage firm Prabhudas Lilladhar shows. The report shows that not only is the number of debt-restructuring proposals reaching CDR cell on the rise, the quality of cases is
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Bankers to take final call on debt recast for Suzlon
Reports indicate that lenders of the debt-ridden Suzlon Energy may meet soon to take a final call on the corporate debt restructuring (CDR) exercise. Suzlon has asked bankers to provide the company with fresh loans of Rs 2,000 crore to meet payment requirements, Rs 3,000 crore as a working capital loan and a
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Bankers to take final call on debt recast for Suzlon
Reports indicate that lenders of the debt-ridden Suzlon Energy may meet soon to take a final call on the corporate debt restructuring (CDR) exercise. Suzlon has asked bankers to provide the company with fresh loans of Rs 2,000 crore to meet payment requirements, Rs 3,000 crore as a working capital loan and a
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Ramesh finds fault at microfinance model
Union Rural Development Minister Jairam Ramesh remarked that it is not possible to alleviate poverty through microfinance institutions (MFIs). In his valedictory address at the recently held Micro finance summit, the minister said one should be somehow more modest in the expectation of micro-finance and micro-finance institutions. To think that we are g
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Lloyds steel to get more funding from Uttam Galva
The loss making Lloyds Steel, in which Uttam Galva group acquired 58.35 percent stake recently, is set to get a further capital infusion of Rs 380 crore from the group. Agency reports suggest that the Rs 380 crore additional investment would be used to turnaround Lloyds Steel, which posted net losses of Rs 290 crore in last three financial years. Lloyds Steel has a total loan portfolio (both, secured and u