Eyeing New Heights

The construction equipment and equipment financing industries experienced a series of highs and lows throughout 2022. As the new financial year starts, both sectors turned their attention to infrastructure as the driving force for future growth.

Tata Motors, SBI sign MoU to offer financing solutions for Ace EV

Tata Motors, India’s largest commercial vehicle manufacturer has signed a Memorandum of Understanding (MoU) with State Bank of India (SBI), the country’s leading public sector bank to offer unique financing solutions for the purchase of the all-new Tata Ace EV – India’s most advanced, zero-emission, four-wheel commercial vehicle.

Tata Motors, SBI sign MoU to offer financing solutions for Ace EV

The partnership will introduce easy loan-structured schemes for the purchase of the all-new Tata Ace EV

Tractors India dragged to NCLT

Following the failure of earlier attempts at debt recovery, Bank of India has filed for insolvency against Kolkata-based commercial equipment maker TIL (Tractors India) in order to recoup its obligations.

Sany Bharat signs MOU with Union Bank of India

The network of Union Bank will extend equipment finance to customers of Sany Bharat across the country

RBI supersedes board of Srei Infra and Srei Equipment Finance

The Reserve Bank of India on October 4 superseded the Board of Directors of Srei Infra and Srei Equipment Finance Limited, owing to governance concerns and defaults by SREI Group Companies.

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.

Tata Motors launches all-new Ace Gold Petrol CX

Tata Motors, India’s largest commercial vehicle manufacturer, launched an all-new variant of its most popular small commercial vehicle (SCV), the Ace Gold Petrol CX starting from Rs 3.99 lakh

Tata Motors launches all-new Ace Gold Petrol CX

The Ace Gold Petrol CX will aim to reinforce its position as the most preferred mini-truck for budding entrepreneurs

Tata Motors launches ‘16 saal bemisaal’ campaign

To celebrate this feat, Tata Motors has organised roadshows, wherein Tata Aces will travel across 10 states in the country. Patrons will also be able to test drive the vehicle to gain a first-hand experience of its comfort and drivability.

Bounce back

Construction equipment finance has bounced back after the pandemic-forced lull.

Tata Motors, SBI join hands to offer financial solutions to CV customers

Tata Motors, India’s largest commercial vehicle manufacturer, has inked a three-year MoU with the State Bank of India (SBI), the country’s leading public sector bank, to offer unique financial assistance for the purchase of Tata Motors’ range of small and light commercial vehicles

SBI sanctions Rs 150 billion loan to MSMEs

State Bank of India has approved Rs 150 billion loan to MSMEs and disbursed Rs 87 billion

Budget cuts by states to adversely affect construction contractors: ICRA

The overall capex budgeted by states for FY2021 is likely to witness steep cut.

The World Has Changed

While at EXCON 2019, Union Minister Nitin Gadkari brought smiles to the faces of the worried construction equipment (CE) industry captains, the pandemic outbreak has wiped that smile into oblivion.

Srei Equipment, United Bank to jointly offer loans

Srei Equipment Finance (Srei Equipment), a wholly-owned subsidiary of Srei Infrastructure Finance (Srei), partnered United Bank of India to jointly offer loans to MSME sector and retail customers under a co-lending arrangement.

CRUSHING BARRIERS

Fragmented aggregate mining, as well as issues related to regulations and liquidity, are threatening the growth of the crushing and screening equipment segment in India.

iQuippo organises Paison Ki Nilami

Commenting on this occasion, Anant Raj Kanoria, CEO, iQuippo, said, ?We have noticed that in the market customers always want to negotiate pricing and interest rates and we through our platform want to digitise and make this process transparent

Srei to continue its focus on equipment finance

Srei Infrastructure Finance and its wholly-owned subsidiary Srei Equipment Finance has consolidated the lending business of Srei Infrastructure Finance and Srei Equipment Finance into one entity since the focus for last four years has been on growing equipment financing and reducing the infrastructure loan portfolio.

All set to meet infra growth demand

Aggressive infrastructural development is imperative to the overall economic welfare of a country. If the economy is likened to a wheel, its infrastructure sector is most certainly the central hub that supports all the other sectors in the form of spokes and keeps the wheel spinning smoothly and efficiently.

Shriram Automall ties up with SBI

Shriram Automall India Limited (SAMIL) has joined hands with State Bank of India (SBI). Under this alliance, Shriram Automall will cater to all the segments of the SBI, including pre-owned commercial vehicles, construction equipment, three-wheelers and two-wheelers.

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.

Centre plans dedicated fund for infra finance

The Union Government is planning to set up a dedicated fund of Rs 10,000 crore for financing infrastructure projects in the country. The fund ? through ?unconditional and irrevocable partial credit guarantee? ? will help enhance the credit rating of bonds issued by infrastructure firms so that they, in turn, can attract long-term investments especially from global insurance, pension and sovereign wealth funds.

Tata Motors Finance for used equipment finance

Tata Motors Finance is venturing into financing of used trucks and construction equipment.

Credit demand may pick up in the second half of FY 2015-16

In July 2014, the current government presented its first budget which was predominantly growth-oriented. The announcements made in the budget represented measures to tame inflation and provide a boost to investments in manufacturing and infrastructure sector.

Movers & shakers

8,500 km by March 2015: How Realistic is the Target?

The Union Finance Minister has set a target of 8,500 km of roads to be completed during the current fiscal year, which simply means construction of about 35.5 km of road per day! In the last couple of years,

RBI raises repo rate

The Reserve Bank of India (RBI) has raised interest rates to take on rising inflation, according to the RBI Governor Raghuram Rajan. RBI said that if retail inflation eases as projected, it does not foresee further near-term monetary policy tightening. The rate hike was driven by expectations of high but moderating consumer price index (CPI) inflation.

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

CIL chief hopes to exceed Rs 1 trillion revenue in FY14

Media reports quoted Narsing Rao, Chairman of Coal India (CIL) as saying that the firm, which posted a turnover of Rs 88,281 crore during 2012-13 hopes to achieve a 12-13 percent growth in the same in the current financial year. He reportedly expressed hope of exceeding Rs 100,000-crore turnover during 2013-14. There are only eight companies in India that are in the Rs 100,000-crore club

Signs of revival, says ICEMA

As the Union government has recently taken policy initiatives and the Reserve Bank of India (RBI) has reduced interest rates, there are early signs of revival in the infrastructure sector, says the Indian Construction Equipment Manufacturers' Association (ICEMA).

Consortium may lend Rs 7 bn to Dighi Port

A consortium of banks led by Bank of India would reportedly lend Rs 700 crore for the infrastructure project proposed to be carried out by Vijay Kalantri-promoted Dighi Port. The project, which is estimated to cost Rs 1,000 crore, includes setting up a new berth and road and rail infrastructure at the port. The remaining cost would be met by the promoters, reports indicate

The CE market is set to grow to over 100,000 units by 2016

The cumulative sales of backhoe loaders, crawler excavators and wheeled loaders have been growing at a CAGR of over 20 per cent for the last ten years and will continue to grow at an impressive rate.

Equipment makers see early revival of infra sector

As the Union government has recently taken policy initiative and the Reserve Bank of India (RBI) reduced interest rate, there are early signs of revival in the infrastructure sector, says the Indian Construction Equipment Manufacturers' Association.

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

Ajay Rawal new CMO of Magma Fincorp

Magma Fincorp announced the appoi?nt?ment of Ajay Rawal as Chief Marketing Officer (CMO). As CMO, he will anchor the Magma's branding ini?tiatives and guide the Channel & Product Development efforts.

Magma PAT up 82 per cent

Magma Fincorp, an asset finance company registered with the Reserve Bank of India, has announced strong numbers for the third quarter of the current financial year.