Tata Power Renewable Energy Limited has raised Rs 5.75 billion through the issue of NCDs on a private placement basis. The company will utilise the proceeds to prepay the existing high-cost debt. The NCDs will […]
ICICI Bank has sold outstanding Essar Steel loans worth around Rs 16 billion to Edelweiss ARC. ICICI Bank’s total exposure in Essar Steel was over Rs 30 billion. The bank is now left with working […]
The Asian Development Bank (ADB) has approved a $500 million loan to construct a bridge across the Ganga river. Along with ADB’s loan and $900,000 in technical assistance to improve bridge operation and management, the […]
The Kolkata Municipal Corporation in West Bengal has inked an agreement with ADB for augmentation of the water supply system and modernisation of the drainage system in the city. ADB will release a sum of […]
IRB Infrastructure Developers Limited’s subsidiary – AE Tollway Private Limited – has achieved financial closure of the Agra-Etawah bypass section widening project. IRB has tied up Rs 16.5 billion as project finance. The total cost […]
Reliance Jio Infocomm Limited (RJIL) has raised Rs 20 billion by issuing five-year non-convertible debentures (NCDs) through the electronic bidding platform route. The NCDs will bear a coupon rate of 8.32 per cent per annum […]
Adani Ports and Special Economic Zone Limited has raised Rs 2.52 billion through the issue of NCDs on a private placement basis. The company raised Rs 2.52 billion on July 4, 2016 through the allotment […]
The National Highways Authority of India (NHAI) has reportedly invited banks to submit expressions of interest for a masala bond offering for a minimum tenor of five years to raise the rupee equivalent of $750 […]
The central government has sanctioned Rs 410 million for Siddipet town (second phase) under the Atal Mission for Rejuvenation and Urban Transformation. In the first phase, about Rs 200 million was sanctioned for the town. […]
RBI has given in-principle approval to seven non-bank companies to operate under the Bharat Bill Payment System. These are Spice Digital, Oxigen, PayU India, Paytm, Euronet, TechProcess and BillDesk. These companies will now be required […]
In a big step towards the resolution of bad loans, Indian banks, the Reserve Bank of India (RBI) and the Ministry of Finance are in talks for setting up two special funds to resurrect troubled […]
The central government has relaxed foreign direct investment (FDI) norms for the aviation and defence sectors. In the aviation sector, foreign investors, barring overseas airlines, have been permitted to hold 100 per cent stake in […]
The cabinet has cleared the proposal for the upcoming spectrum auction likely to be conducted in September 2016. A total of 2,142 MHz of spectrum in the major bands (700 MHz, 800 MHz, 900 MHz, […]
The Kerala government has announced a Rs 120 billion package for infrastructure projects under the revised State Budget 2016-17. The necessary funds will be raised through the Kerala Infrastructure Investment Fund Board by issuing bonds, […]
RBI has released the framework for payment and settlement systems in India. The regulatory framework, based on a consultative approach, aims to achieve enhanced coverage of payment systems coupled with convenience for end-users. A key […]
The Uttar Pradesh Jal Nigam (UPJN) has proposed the development of a 120 mld capacity STP near Ghiyasuddin Haider canal in Lucknow. The canal, spanning a length of 18 km, carries sewage from the Rajajipuram, […]
The Karnataka government has set up a five-member committee to study the implementation of the Yettinahole drinking water project and the availability of water resources to mitigate the water crisis in the drought-prone Kolar and […]
The Tamil Nadu government has approved the implementation of the Mettupalayam Municipality Underground Drainage Project. Sanctioned at a cost of Rs 917 million, the project will be executed by the Tamil Nadu Water Supply and […]
The Karnataka government has constituted the Karnataka Lake Conservation and Development Authority to tie up with corporate firms for rejuvenation and conservation of lakes under the jurisdiction of urban local bodies (ULBs). The newly formed […]
The Miyapur-SR Nagar stretch (Stage 2) of the Hyderabad Metro Rail Project, Phase I, in Andhra Pradesh is likely to receive safety clearance from the Commissioner of Metro Rail Safety (CMRS) by September 2016. Currently, […]
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