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RBI supersedes board of Srei Infra and Srei Equipment Finance

The central bank of India has appointed Rajneesh Sharma, the former Chief General Manager at Bank of Baroda, as administrator.

Srei, Oriental Bank of Commerce sign pact

Srei Equipment Finance and Oriental Bank of Commerce announced a strategic alliance to offer loans for purchase of equipment under a co-lending arrangement. iQuippo, a Kanoria Foundation initiative, will facilitate sourcing of loans under this program.

Centre plans dedicated fund for infra finance

According to reports, the Union Government is planning to set up a dedicated fund of Rs 10,000 crore for financing infrastructure projects in the country. This will be a boost to the country?s infrastructure sector, requiring investments of more than $1.5 trillion in the coming ten years.

ECB proposal for funding local construction equipments

Agency reports suggest that some NBFC-AFCs (asset financing companies) want Reserve Bank of India (RBI) to allow External Commercial Borrowing (ECB) norms for funding domestically manufactured construction equipment. Recently, the central bank allowed NBFC-AFCs to avail ECBs for funding only imported equipments

RBI maintains policy rates

In its mid quarter monetary policy review, the Reserve Bank of India (RBI) kept key policy rates (repo and reverse repo) unchanged. Cash reserve ratio (CRR) or the portion of deposits banks keep with the RBI was also unchanged at 4.25 per cent. The central bank maintained its October guidance about policy easing in the fourth quarter given the recent inflation patterns and projections. Liquidity conditions will be managed with a view to supporting growth as stated in the second quarter review, t

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Caterpillar Reports Best Quarter in History and Raises 2012 Profit Outlook

Caterpillar Inc. (NYSE: CAT) today announced second-quarter 2012 profit per share of $2.54, an all-time quarterly record, and a 67-percent increase from second-quarter 2011 profit per share of $1.52.

Magma disbursement grew 37%

Leading asset finance company Magma Fincorp announced the Q2, FY 12 results that reflected strong growth in business disbursals and Assets under Management (AUM) over corresponding quarter of the last year. The disbursements grew at a robust 37 percent to Rs 1,558 crore, riding high on the performances across product categories.

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