The National Investment and Infrastructure Fund (NIIF) has signed an MoU with the Japan Bank for International Cooperation (JBIC) to promote Japanese investments in India. The NIIF and JBIC are exploring the formation of a bilateral India-Japan Fund (IJF). The partnership intends to invest $500-$700 million in the IJF. The fund will make equity investments in environmental preservation and low-carbon emission measures with funding from JBIC and the Indian government.
The Tata Group is in talks with banks to secure working capital loans of approximately Rs 150 billion for Air India. The funds will be used to compensate for day-to-day air operations and losses, fleet maintenance, aircraft rental costs and IT operations overhaul. The term of the loan will be three years, with an annual reset rate of 7.5-8 per cent.