'Although we are facing constraints related to lending and resource mobilisation, the government is aware of these.'
State Bank of India has decided to classify the loan account of beleaguered telecom firm Reliance Communications as "fraud" and to report the name of its erstwhile director -- Anil Ambani to the Reserve Bank of India (RBI), according to a regulatory filing. Reliance Communications in a regulatory filing said that it has received a letter dated June 23, 2025 from the State Bank of India (SBI) to this effect.
Infrastructure bonds, which were relied upon the most in 2024-25 (FY25) by commercial banks to raise funds through the domestic debt capital market amid lagging deposit growth, seem to have lost their sheen in FY26. So far in FY26, no bank has tapped the domestic debt capital market to raise funds via infra bonds, and the expectation is that the amount raised through this route will be significantly lower than that last year, unless credit demand picks up.
"Till September we have refinanced loans worth Rs 1,500 crore (Rs 15 billion). We will lend another Rs 3,500-4,000 crore (Rs 35-40 billion) to REC and PFC by the end of this fiscal," IIFCL Chief Executive Pradeep Kumar said.
The India Infrastructure Finance Company (IIFCL), which raised Rs 10,000 crore (Rs 100 billion) in the last fiscal for refinancing banks for infrastructure lending, on Tuesday said the banks may avail of this facility in the next seven months.
Finance Minister Pranab Mukherjee said the Indian Infrastructure Financial Corporation Limited (IIFCL) will evolve a financing mechanism for giving increased support to infrastructure projects.
The key to last week's revival package, in the infrastructure sector, is the two-year old India Infrastructure Finance Company Ltd (IIFCL) and the efforts of its chairman and managing director, Surinder Singh Kohli.
In a note, titled 'IIFCL financing for PPP projects,' sent to Prime Minister Manmohan Singh, Ahluwalia wrote, 'It was pointed out in the meeting that the term of the current CMD (chairman and managing director) of IIFCL ends on March 10. The FS (finance secretary) had indicated that the term can be extended. Action on this front should be expedited to avoid loss of momentum.'
IIFCL has come out with a Rs 2,500-crore (Rs 25-billion) issue on a private placement basis with an option to retain an oversubscription of Rs 10,000 crore (Rs 100 billion). The bond, which was guaranteed by the government, will give a 6.85 per cent tax-free return to investors and have a maturity period of five years.
'This is not just the IREDA's IPO. It is the success of the ministry of new and renewable energy and of the renewable energy industry.'
rediffGURU Vivek Lala answers your income tax and personal finance queries.
The finance minister was speaking after launching the maiden IDF scheme of IIFCL Mutual Fund in New Delhi on Tuesday.
Why do we need a bad bank, owned by the banks themselves when there are at least 28 ARCs around, asks Tamal Bandyopadhyay.
Only NIIF has stayed the course as a viable infrastructure financing institution.
For development finance institution to succeed now, the government must stand like a rock behind it and be patient.
Through two stimulus packages, the Indian government recently allowed IIFCL to raise Rs 40,000 crore through tax free bonds to aid the financing of infrastructure projects which were being carried out as public-private partnerships, the Bank said.
The Cabinet has cleared a Bill to set up a government-owned development finance institution (DFI) with initial paid-up capital of Rs 20,000 crore so that it can leverage around Rs 3 trillion from the markets in a few years to provide long-term funds to infrastructure projects as well as for development needs of the country. To put it in perspective, Rs 3 trillion constitutes slightly less than 3 per cent of the Rs 111 trillion to be spent on over 7,000 projects in the National Infrastructure Pipeline from 2019-20 to 2024-25. Besides, the government will give Rs 5,000 crore as grant to the institution, Finance Minister Nirmala Sitharaman on Tuesday told the media after the Cabinet meeting.
The Asian Development Bank (ADB) has approved $700 million in loans to support the Indian government's efforts to accelerate investment in infrastructure which the country requires to ensure strong economic growth.
The season of tax-free bonds is on.
All banks are eligible for privatisation. A committee of secretaries will decide which banks will be privatised, says Financial Services Secretary Debasish Panda.
IIFCL Chairman S K Goel says the recommendations are premature, as the state-run lender's role as a guarantor for long-term funds would depend on the success of the Credit Enhancement Scheme and Infrastructure Debt Fund.
The unchanged duty structure for the cement industry is a major disappointment. However impetus for rural growth and infrastructure development will ensure healthy demand to continue.
Seventeen shooters, prominent among who is Beijing Olympics gold medallist Abhinav Bindra, are among 45 athletes selected by the government for financial assistance under the Target Olympic Podium (TOP) scheme.
The government's showcase Indian Infrastructure Finance Company Ltd has run into trouble with two leading global banks - Standard Chartered Bank and Calyon Credit Agricole - suggesting that they may not fulfil collective contractual funding commitments of $250 million
The World Bank and India have concluded negotiations for loans worth $3.2 billion for recapitalising state-run banks and funding for the India Infrastructure Finance Company Ltd, a state-run lender to infrastructure projects.
No prior approvals required for setting up off site ATMs will enable banks speed up their franchise expansion.
The Finance Ministry is considering a proposal to rope in professionals from the private sector for appointment of chairman and CEO-cum-managing director in state-owned financial institutions as it looks for talent from a wider pool of applicants.
With fixed deposit rates coming down, bonds are once again proving to be an attractive investment.
Here are the highlights of the economic package announced by the government on Sunday.
India Infrastructure Finance Company has joined hands with Infrastructure Leasing and Financial Services to develop and finance 10,000 MW of power generation and transmission, entailing an investment of upto Rs 35,000 crore (Rs 350 billion).
'This is happening regardless of the Budget.'
Budget should raise revenues & reduce spending to increase capital expenditure.
Officials asked what the point was in going through banks when the government has to give guarantees.
Subhash Chandra Garg, the former finance secretary who was shunted out of the finance ministry within three weeks of Modi-2.0 government's first budget last year, on Saturday alleged that new Finance Minister Nirmala Sitharaman got him transferred out.
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The interest on foreign currency non-resident accounts has been liberalised to attract more deposits.
Likely to select from 3 shortlisted; follows Sanjeev Kaushik's refusal to take the job if made to retire from IAS
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India's CAD -- the gap between inflow and outgo of foreign exchange -- widened to a record high of $88 billion or 4.8 per cent of the gross domestic product for the fiscal ended March 31, from $78.2 billion in 2011-2012, about 4.2 per cent of the Gross Domestic Product.
Stepped up public expenditure must be accompanied by focused policies, advises Vinayak Chatterjee.
India will get $35 billion from Japan over the next five years for developmental projects, including building of smart cities and next generation infrastructure as also cleaning of the Ganga, as Premier Shinzo Abe on Monday pledged to partner Prime Minister Narendra Modi's "ambitious" vision of inclusive development.
An exercise to rationalise coal linkages which will optimize transport of coal and reduce cost of power is underway.
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