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14 11, 2014

RBI to sell Rs 10,000 cr govt bonds

By | 2017-03-28T08:43:53+00:00 November 14th, 2014|Marketing and Finance|0 Comments

Reserve Bank said it would sell Rs 10,000 crore government bonds through Open Market Operation (OMO) to mop up liquidity from the system. “On an assessment of current and evolving liquidity conditions, Reserve Bank has decided to conduct sale of government securities under Open Market Operations for an aggregate amount of Rs 10,000 crore on November 5 through multi-security auction using the multiple price method,” the central bank said in a statement. There is an overall aggregate ceiling of Rs 10,000 crore for all the securities in the basket put together, it said. The central bank would decide on the [...]

4 11, 2014

RBI may offer lower lending rates in Dec

By | 2017-03-28T08:44:00+00:00 November 4th, 2014|Marketing and Finance|0 Comments

Bank Credit Growth Up, But Continues To Underperform Growth In Deposits Leading public sector banks have lowered some of their term deposit rates as credit growth remains sluggish and liquidity in money markets have improved. The lenders who reduced deposit rates recently include Bank of Baroda, Bank of India, and Andhra Bank reduced some of their term deposit rates. State Bank of India, ICICI Bank and Central Bank of India had revised its earlier last month. “We have been able to bring down interest rates on deposits because we hold surplus investments in government securities. The expectations of a reduction [...]

4 11, 2014

Bangalore’s new realty projects dip 27% in Q3

By | 2017-03-28T08:44:01+00:00 November 4th, 2014|Marketing and Finance|0 Comments

21% Decline Across India, Says Report The slowdown in India’s real estate sector continues with the number of new construction projects declining sharply in the three biggest realty markets in the third quarter of this year, global real estate consultancy firm Cushman and Wakefield has said in a yet-to-be-released report. New launches were down 54% in the national capital region, 27% in Bangalore and 11% in Mumbai during July-September 2014, as compared to the same period last year. The country as a whole saw a decline of 21% in new projects. The drop was steeper — more than 50% — [...]

4 11, 2014

Land acquisition proposal for runway expansion sent to govt.

By | 2017-03-28T08:44:03+00:00 November 4th, 2014|Marketing and Finance|0 Comments

185 acres to be got at a cost of Rs. 121 crore The district administration has submitted a proposal to the State government to acquire 185 acres to be handed over to the Airports Authority of India (AAI) for expanding the new concrete runway, D.R. Ashok, Assistant Commissioner, Mangalore sub-division, has said. Stating this at the meeting of the Karnataka Development Programme Review Committee here on Monday, he said it had been proposed to acquire the land at a cost of Rs. 121 crore, of which Rs. 115 crore would be spent on land acquisition and Rs. 5 crore for [...]

4 11, 2014

Tata Power-ICICI Venture JV may Buy Avantha Power Assets

By | 2017-03-28T08:44:05+00:00 November 4th, 2014|Marketing and Finance|0 Comments

7,000 crore Deal likely to involve sale of operational power plants; acquirer may have to pay up to A joint venture between Tata Power, India's second-biggest private power producer and ICICI Venture, has begun talks to buy out some power assets of Avantha Power as the cash-strapped Thapar group considers asset sale to reduce its debt. Two people with direct knowledge of the matter said officials from both sides have met to discuss the issue and that the deal is likely to involve the sale of operational power plants. “We had several meetings with the Thapar group officials for the [...]

3 11, 2014

Infosys pulls out of new development centre proj in Bengaluru

By | 2017-03-28T08:44:08+00:00 November 3rd, 2014|Marketing and Finance|0 Comments

Country's second largest software services firm Infosys has pulled out of the proposed software development centre project to be set up near Bengaluru citing lack of infrastructure in India's 'Silicon Valley'. It has also asked the Karnataka Industrial Areas Development Board (KIADB) to refund the deposit for land it has paid. Infosys has taken the step citing lack of infrastructure at the 1,000-acre IT park to pursue its business plans. "The company has conveyed its intention to surrender the land citing lack of infrastructure," Infosys said in a regulatory filing. Further, Infosys has reiterated that this does not in any [...]