The centre is considering roping in two-three banks, including the State Bank of India (SBI) and Punjab National Bank, to pick up a stake in the Rs 5 billion credit enhancement fund anchored by Indian Infrastructure Finance Company Limited. Some multilateral funding agencies such as ADB and the International Finance Corporation have also been approached for a partnership in the initiative. Besides, the Ministry of Finance has requested the Insurance Regulatory and Development Authority of India to provide an exemption permitting the Life Insurance Corporation (LIC) to hold a stake above 15 per cent in the proposed venture. The credit enhancement fund, which is expected to be registered as an alternative investment fund, is expected to begin operations by December 2016.
LATEST
- [ December 2023 ] 2nd edition of Tunnel Construction | Nov 29-30, 2023 | Le-Meridien, New Delhi. Videos
- [ December 2023 ] Government of Delhi transfers fund for Delhi-Meerut RRTS Urban Infrastructure
- [ December 2023 ] BMRCL to commence preliminary works for Phase III Bengaluru Metro soon Urban Infrastructure
- [ December 2023 ] State grants administrative sanction for Chennai Greenfield Airport Project in Tamil Nadu Aviation
- [ December 2023 ] Preparatory work commences for land acquisition for Sabarimala Greenfield Airport Aviation
- [ December 2023 ] Construction of passenger terminal reaches final floor at Noida airport Aviation
- [ December 2023 ] GMDA plans to install ultrasonic flow meters at all STPs along with CCTV cameras Urban Infrastructure
- [ December 2023 ] Central Government approves funds worth Rs 2.86 billion for implementation of flood mitigation project in Pune Urban Infrastructure
- [ December 2023 ] New project to install sewer line in missing areas of Buddha Nullah project to launch soon under AMRUT Urban Infrastructure
- [ December 2023 ] Union government inaugurates second floating CNG station in Varanasi Oil and Gas
COPYRIGHT © 2016- 2022 | INDIAN INFRASTRUCTURE