Road project developer IRB Infrastructure Developers received approval from the Reserve Bank of India (RBI)
to receive up to 49 per cent of its paid up capital as investment from Foreign Institutional Investors (FIIs). This would allow FIIs to raise their investment in the company's equity shares and convertible debentures unde
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IRB allowed to receive 49% investment from FIIs
IRB allowed to receive 49% investment from FIIs
Road project developer IRB Infrastructure Developers received approval from the Reserve Bank of India (RBI)
to receive up to 49 per cent of its paid up capital as investment from Foreign Institutional Investors (FIIs). This would allow FIIs to raise their investment in the company's equity shares and convertible debentures unde
Indian Bank reduces interest rate on loans
In a company statement, state-run lender Indian Bank said it would reduce base rate by 0.30 per cent to 10.20 per cent from the existing 10.50 per cent, with effect from February 9, 2013. The statement also shows that the bank reduced its Benchmark Prime Lending Rate by 0.25 per cent from the existing 14.75 per cent to 14.50 per cent per annum with effect from February 9,
India on course to meet $1 trillion infra investment target
G Padmanabhan, Executive Director of Reserve Bank of India (RBI) remarked that the country is on course to meet its infrastructure investment target of $1 trillion during the ongoing 12th five-year plan (2012-17). Speaking at a conference in London, he said the funding process was working in a seamless manner and thing
RBI introduces new provisioning norms
In an official statement, Reserve Bank of India (RBI) said banks must make 3.75 percent provisioning, from March 31, 2014, for loans already restructured. The provisioning would rise further to 5 percent with effect from March 31, 2015, the statement said. The central bank also said that with effect from April 1, 2015, restructured accounts would be immediately classified as sub-standard. Non-performing asse
IDBI Bank reduces interest rates by 25 bps
Effective February 1, IDBI Bank reduced its deposit and lending rates by 25 basis points after the Reserve Bank of India (RBI) cut policy repo rate and banks' cash reserve ratio (CRR). In its third quarter review of monetary policy, RBI cut repo rate by 0.25 per cent and slashed CRR by the same margin to inject Rs 18,000 crore of liquidity into the syst
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RBI survey expects 5.5% economic growth in FY13
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Infra firms welcome RBI rate cut
Infrastructure developers and development finance companies cheered the Reserve Bank of India's (RBI) move to cut policy repo rate in its third quarter review of monetary policy. Infrastructure developers urged banks to pass on the cut in policy rate to borrowers and thereby reduce the cost of funding
RBI hints at more policy easing if inflation, CAD falls
The Reserve Bank of India (RBI) Governor D Subbarao informed reporters that there would be more room for monetary policy actions if inflation eases further and the current account deficit moderates further. He said this after announcing the decision of the RBI to reduce repo rate by 25 basis points and cash reserve ratio (CRR) of scheduled commercial banks by 25 bps in the third quarter monetary policy