Mumbai: State Bank of India plans to raise $500-$600 million worth of offshore external commercial borrowings in three to four months time, a senior executive said on Tuesday.
India's largest lender priced a five-year, $1 billion bond issue with a coupon of 3.25 per cent last week, generating interest of more than four times the bond size, said Hemant Contractor, managing director of international business.
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01:35 AM, Apr 17, 2013
Finance Minister P Chidambaram on Friday said the ministry has moved the Cabinet note for setting up of a Debt Management Office (DMO), which will handle the government's borrowing programme. ...
02:05 AM, Mar 23, 2013
The government is likely to borrow less in the new financial year that begins on April 1 than in 2012/13 because of its surplus cash balance, two government sources told Reuters on Monday. ...
01:39 AM, Feb 12, 2013
Stock markets have years that are horrible and years that are cheerful. For example, 2007 was cheerful, while 2008 was horrible. A rarity is a year that approaches the investor with the look of the Grim Reaper but turns out to be Santa Claus; 2012 was such a year. ...
01:48 PM, Jan 24, 2013
The Reserve Bank of India (RBI) said on Monday it has relaxed overseas borrowing limits for infrastructure finance companies, a move that will enable companies in the investment-hungry sector to raise funds more easily. ...
12:50 AM, Jan 08, 2013
New Delhi: Having already completed about 65 per cent of its market borrowing programme for 2012-13, the government on Thursday said it will raise only Rs 2 lakh crore in the second half of the fiscal to ensure adequate availability of cash for the private sector. "The government will borrow Rs 2 lakh crore in remaining period the current fiscal," Department of Economic Affairs Secretary Arvind Mayaram said after a...
08:20 PM, Sep 27, 2012
Mumbai: Reserve Bank deputy governor HR Khan on Saturday said there has not been any change in the government borrowing programme for this fiscal as of now. "As of now, we are going as per the budgeted amount (of borrowing)," Khan told reporters on the sidelines of a conference. Earlier this week, Deputy Governor Subir Gokarn said, "the central bank has no formal communication about enhanced borrowing so far, so...
02:59 AM, Sep 23, 2012
New Delhi: Finance Minister P Chidambaram on Friday announced that the Centre had cut tax on external commercial borrowings (ECB) by Indian companies to five per cent from 20 per cent. The reduction in tax will encourage Indian companies to raise funds from overseas markets. The withholding tax liabilities on Indian companies, too, have been reduced to five per cent. This will apply to all borrowings between July 2012 and...
12:45 PM, Sep 21, 2012
New Delhi: In a bid to check rupee's free falling against the US dollar, the Reserve Bank of India (RBI) on Monday hiked the limit of external commercial debt by $10 billion. Moreover, the regulator also increased the limit of overseas investment in government bonds by $5 billion to $20 billion. "It has been decided to allow Indian companies in manufacturing and infrastructure sector and having foreign exchange earnings to...
02:53 PM, Jun 25, 2012
New York: E-book readers have been relatively slow to borrow digital works from the library, frustrated by a limited selection and by not even knowing whether their local branch offers e-releases, according to a new study. The Pew Research Center published a survey Friday that reports around 12 percent of e-book users 16 years and older downloaded a text from the library over the past year. Earlier in 2012, Pew...
09:12 AM, Jun 24, 2012
Mumbai: State Bank of India, the country's biggest lender, plans to borrow $1 billion to $2 billion from the overseas market in the next three months, Chairman Pratip Chaudhuri told reporters on the sidelines of a banking event. SBI doubled its overseas borrowing programme to $10 billion last year but poor market conditions have deterred it from making fundraising plans since. Chaudhuri did not provide details of where the bank...
03:59 AM, Jun 17, 2012
Mumbai: Two days after the government okayed a turnaround plan, the cash-strapped national carrier Air India invited merchant bankers to raise working capital loans up to USD 1 billion from overseas markets. The move follows the government allowing AI to borrow up to USD 1 billion annually through the external commercial borrowing (ECB) route. The airline has floated an "invitation of offers" for raising funds through the ECB route. It...
11:55 AM, Apr 15, 2012
New Delhi: India's external debt rose to $334.9 billion at December-end 2011, an increase of 9.4 per cent in the first nine months of the current financial year, owing largely to higher commercial borrowings and short-term trade credit, the finance ministry said on Friday. Data released by the department of economic affairs showed that India's total external debt at the beginning of 2011-12 was $306.1 billion. It increased by $28.8...
01:29 AM, Mar 31, 2012
When Finance Minister Pranab Mukherjee presents the Union Budget 2012 on March 16, experts will be keenly hearing his comments on fiscal deficit. India's fiscal deficit is a cause for worry now. It is expected to exceed the targeted 4.6% of GDP. Former finance secretary S Narayan says, fiscal deficit in percentage terms will be optically low due to inflation. "Projected fiscal deficit for the next year is unlikely to...
06:27 PM, Mar 02, 2012
Major part of the Government's revenue comes from borrowings. ...
03:52 PM, Feb 16, 2009
Kolkata: Former India captain Sourav Ganguly on Saturday laughed off Shahid Afridi's remarks that Sachin Tendulkar was uncomfortable against Shoaib Akhtar's pace, a claim which the Pakistani speedster had made in his autobiography 'Controversially Yours'. Afridi is out of his mind, Ganguly quipped, reacting to the former Pakistani skipper's claim that he has seen Tendulkar tremble while facing Shoaib. Ganguly is not surprised at off-spinner Harbhajan Singh's omission from the...
07:48 PM, Mar 05, 2008
