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Briefly Business: IFIN,LIC sign MoU to set up infra debt fund

IL&FS Financial Services said the state-owned insurance player LIC has signed an MoU to float an infrastructure debt fund

Written by Agencies | Published: May 12, 2012 2:54:01 am

IFIN,LIC sign MoU to set up infra debt fund

Mumbai: IL&FS Financial Services on Friday said the state-owned insurance player LIC has signed an MoU to float an infrastructure debt fund,which aims raise $2 billion from domestic and overseas market.

Govt may give sops to exporters in FTP

New Delhi: The government has hinted at giving export incentives to some sectors to cushion them from the slowdown in western markets,in the forthcoming foreign trade policy. Commerce Minister Anand Sharma said that on May 17 he will take stock of the exporting sectors with all export promotion councils.

Forex reserves fall by $2.19 bn to $293.17 bn

Mumbai: After expanding for three consecutive weeks,the country’s forex reserves dwindled by $2.19 billion to $293.17 billion due to a fall in the core foreign currency assets and gold reserves. The reserves had registered an addition of $758 million to $295.36 billion last week.

Board okays NTPC Hydro merger with NTPC

New Delhi: State-run NTPC on Friday said the Board of Directors has approved the merged of wholly-owned subsidiary NTPC Hydro with itself.

JLR raises UK supplier contract for Evoque

London: Tata Motors-owned Jaguar Land Rover on Friday said it will invest an additional one billion pound in sourcing parts from the UK-based suppliers for its latest Range Rover Evoque over the next four years.

CII invites cos for drilling Mozambique mines

New Delhi: Coal India has come out with bids,inviting firms to take up drilling work of its twin mines in Mozambique that have reserves of over 1 billion tonnes.

Levy uniform fee on high value cheques: RBI

Mumbai: The RBI on Friday asked the banks to fix a uniform fee for collection of cheques of over Rs 1 lakh,instead of levying it as a percentage of the value of the instrument.

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