Government must adopt a single pricing, five-year stable regime for natural gas instead of a phased regime proposed by the petroleum ministry, union law and justice ministry said in its opinion. The petroleum ministry sought the suggestion of the law ministry on the proposal to shift to market-based pricing for domestically produced natural
Tag: market
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Minister wants to reduce crude oil import
Union Petroleum Minister Veerappa Moily said he wants to reduce the amount of crude oil imported in the country 50 percent by 2020, 75 percent by 2025. By 2030, he wants India to achieve self-sufficiency and energy independence, Moily said while addressing the International Energy Forum conference held recently
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Minister alleges opposition of lobbies for proposed gas pricing
Import lobby is opposing the proposal to link the domestic price of natural gas to the market price and thereby liberalise the pricing of the fuel, Petroleum minister M Veerappa Moily said recently. However, he said he was clueless about whether the opposition is from the crude oil import lobby or the liquid gas import lobby
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Officials discuss issues in stressed loan mkt
Usha Thorat, Director of the Centre for Advanced Financial Research and Learning (Cafral), held discussion with banks, rating agencies and asset reconstruction companies (ARCs) on the issues in the stressed loan market. Typically, banks sell non performing assets (NPAs) to ARCs, which in turn tries to recovers the loan from the borrowers. ARCs acquire stressed assets from banks at a mutually agreed upon price and then recover it fro
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Steel firms to benefit from rupee depreciation
Steel companies are cheering the weakening of the Indian currency against the dollar as it would make export of steel products more competitive and discourage local consumers from resorting to import. Local steel consumers may find imports costlier because of the depreciation in rupee and this may benefit Indian steel companies
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Rupee falls to all-time low against dollar
The Indian rupee depreciated against the greenback to touch an all-time low of 58.15 per dollar in a recent trading session because of the perceived recovery in the US economy. The perceived recovery of the US economy caused fear that the US Federal Reserve may taper off its quantitative easing programme and this led to the rally of US dollar against many
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Rupee falls to one-year low against dollar
At a recent trading session on the Interbank Foreign Exchange market, the Indian rupee depreciated to a one-year low of 56.58 against the dollar. The decline in rupee against the dollar is attributed to the demand for the greenback from importers. Also, the concerns highlighted by Reserve Bank of India (RBI) Gove
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ECB facility may promote affordable housing projects
Industry players expect the Reserve Bank of India's (RBI) move to allow real estate developers raise funds from External Commercial Borrowings (ECB) would increase the supply of low-cost houses. It may be recalled that the central bank allowed developers and housing finance companies to raise a maximum of $1 billion for affordable housing
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Canara Bank to issue bonds for funding expansion plan
In order to finance its global business expansion, Canara Bank would issue bonds worth $1 billion from the international market. The company would start the process of the bond issue by holding roadshows in Singapore, Hong Kong and London between May 27 and May 31. The state-run bank would use the fund for growth of its overseas business, which is presently spread across Lond
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RBI head asks states to focus on fiscal consolidation
Addressing a gathering of state finance secretaries Reserve Bank of India (RBI) Governor D Subbarao asked states to focus on the quality of fiscal consolidation and also on expenditure compression. He called for the need to explore ways for better cash management and adequate dissemination of information on state finances. Considering the rise in market borrowing of states, inflation risks and banks' excess investments in statutory liquidity ratio (SLR) securities, he said managing state gove