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Loan raised for expansion projects not used for so

Loan raised for expansion projects not used for so
If Indian companies have not used the loans they raised for expansion projects, then where has it all gone is a matter to understand. While a prolonged economic slowdown has brought new investments to a standstill, it has increased the working capital requirement of some companies quite substantially. In sectors where a large amount of [...] Continue Reading »

Bankers are going to ‘investigate’ construction firms before debt restructure

Bankers are going to ‘investigate’ construction firms before debt restructure
Banks have started insisting on investigative audits for engineering, procurement and construction (EPC) units who are looking to recast their loans. A forensic team will evaluate such companies and reduce the chances of any ‘package failure’ in corporate debt restructuring (CDR). The bankers will look in a detailed manner in case of all the related [...] Continue Reading »

A reason to be happy for home loan borrowers

A reason to be happy for home loan borrowers
Banks must effect any change in floating rate loans only at the agreed-upon reset date, RBI suggested. This aims at ushering in transparent and appropriate pricing of credit, according to an RBI working group. It was suggested by the group that floating rate loan agreements can have interest rates reset monthly, quarterly, half-yearly, etc. This [...] Continue Reading »

Bombay HC asks HDIL to hand over possession of Kurla’s Premier Residency flats

Bombay HC asks HDIL to hand over possession of Kurla’s Premier Residency flats
Housing Development & Infrastructure Ltd has been asked by the High Court to consider handing over possession of ready flats at its Premier Residency project at Kurla in Mumbai. The Bombay high Court suggested that the lawyers representing the developer and home buyers should try for an out of-court settlement. Aejaz Saiyed, who has bought [...] Continue Reading »

Axis introduces home loan scheme for people earning below Rs 10000

Axis introduces home loan scheme for people earning below Rs 10000
A senior bank official says that Axis Bank has launched a home loan scheme for the people whose per month income is less than Rs 10,000 per month. The bank is looking at disbursals of up to Rs 1,000 crore in a year’s time However these loans will have higher risk due to as the [...] Continue Reading »

Apprehensive housing

Apprehensive housing
Housing finance was viewed by banks as one of the safest avenues for lending. Banks that had got into the act early on, in competition with the specialised housing finance companies that started the business, were handsomely rewarded with a very positive risk-reward profile for several years. As the sector expanded, though, many of these [...] Continue Reading »

Loan pact for Delhi Metro signed by JICA

Loan pact for Delhi Metro signed by JICA
Today a loan agreement has been signed with the Government of India by the Japan International Cooperation Agency (JICA) to provide 1,40,000 million Japanese Yen of Japanese Official Development Assistance (ODA) for constructing the phase 3 of Delhi Metro under the Delhi Mass Rapid Transport System Project Phase 3 (II). This loan is successive to [...] Continue Reading »

Bank lending to subsidiary eased, good for infrastructure projects

Bank lending to subsidiary eased, good for infrastructure projects
Banks can provide infrastructure lending to special purpose vehicles (SPV) on the basis of the guarantees or security provided by a holding company. The Corporate Affairs Ministry has clarified that for loans made by a bank to a subsidiary company, a holding company can (without any limit) give guarantee or provide security. Bankers say that [...] Continue Reading »

World Bank to loan USD 175-mn for Gujarat road project

World Bank to loan USD 175-mn for Gujarat road project
The World Bank and the government of India signed a loan pact on Wednesday as per which USD 175 million will be provided by the multi-lateral lending institution to fund a second highways project in the state of Gujarat. As per a Finance Ministry release, “The loan agreement for World Bank (IBRD) assistance of USD 175 million for second [...] Continue Reading »

Odisha clears air on land mortgage row

Odisha clears air on land mortgage row
Odisha Government gives permission to Odisha Industrial Infrastructure Corporation (Idco) to approve the creation of mortgage to the industries. The state government has come out with a notification saying that Odisha Industrial Infrastructure Corporation (Idco) can give permission to industries for creation of mortgage. It comes as a relief to industries which were finding it [...] Continue Reading »



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