Latest News
-
1:10 Stock Split: 1 Rs 980 Smallcap Has Split Into Ten Shares; Check Out New Price Level, Fundamentals! -
Rs 2.50/Share Final Dividend: Record Date In Due Course; Buy The ITC Group Stock? -
Rs 95/Share Dividend: Record Date On 28th June; Buy Mahindra Group Stock To Be Eligible? -
5 Bonus, Rs 28/Sh Dividend: IT Giant Infosys Beats Estimates In Q4FY24, But ADR Falls Sharply; Here's Why! -
1:10 Stock Split Approved: Small Cap Stock Issues Warrants, Shares Gain 111% YTD -
Wipro Q4 Results Preview: Weak Demand Likely To Drag Revenue Sequentially, EBIT Margins Seen Stable -
Rs 6/Share Final Dividend Declared: Buy The Blue Chip Stock To Be Eligible? -
TCS Vs Infosys: Dividend History And Upcoming Rewards, Which IT Giant Is Better? -
LIC New Jeevan Shanti 858 Plan: How To Earn Rs 10,000 Pension Per Month After Retirement? Check Eligibility! -
Kronox Lab Sciences Granted SEBI Approval to Initiate IPO
Debt fund through public private partnership to help infrastructure funding: FM
Mukherjee also said that he was confident that the establishment of the Infrastructure Debt Fund through PPP model would be a guiding principle for future activities. Funds around $1 trillion (100,000 crore) are needed in the next five years for infrastructure projects such as roads, ports and airports.
The Finance Minister was speaking after a Memorandum of Understanding (MOU) was signed here today in his presence for setting-up India’s First Infrastructure Debt Fund(IDF) structured as a Non-Banking Finance Company (IDF-NBFC).
To accelerate and enhance the government’s ambitious programme of infrastructure development, Pranab Mukherjee in his last budget had announced setting-up of Infrastructure Debt Funds (IDFs).
To attract offshore funds into IDFs, the Finance Minister had also announced that withholding tax on interest payments on the borrowings by the IDFs would be reduced from 20% to 5%. Income of the IDFs are also exempt from income tax.
ICICI Bank, Bank of Baroda, Citi and LIC will hold 31%, 30%, 29% and 10% shareholding respectively in the IDF-NBFC.
The IDF would seek to raise debt capital from domestic as well as foreign resources and would invest in infrastructure projects under the Public-Private Partnership model that have completed one year of operations.
GoodReturns.in
