Briefly Business: RBI hikes overseas borrowing limit for infra NBFCs

RBI hikes overseas borrowing limit for infra NBFCs

Mumbai: The RBI has said infrastructure finance companies will no longer need to seek approval for raising funds overseas equivalent to up to 75 per cent of their owned funds. The limit had been 50 per cent so far.

Rs 200 cr revival plan for Scooters India

new delhi: The government is likely to consider over Rs 200 crore revival package for sick PSU Scooters India Ltd on Thursday this week.

BofA to pay $3.6 bn to Fannie Mae

new york: Bank of America Corp said it will pay $3.6 billion to Fannie Mae to settle claims related to residential mortgage loans for the nine years to the end of 2008.

HC asks Irda for more power to ombudsman

mumbai: The Bombay High Court has asked the Irda to consider that in matters of health insurance claims, the ombudsman can be given powers to penalise insurers who deny genuine claims.

'NIC to start R5K cr VC fund for innovation'

mumbai: National Innovation Council (NIC) Chairman Sam Pitroda has said the council will launch its Rs 5,000-crore venture fund aimed at supporting small enterprises by March.

Rakesh Bharti Mittal quits IFCI board

mumbai: IFCI Ltd has said Rakesh Bharti Mittal has resigned from the board of the company. The government had last week restructured the board and nominated two new directors.

CAG to begin KG-D6 audit on January 9

new delhi: After protracted wrangling, the CAG will on Wednesday will begin the second round of audit of Reliance Industries spending on the flagging eastern offshore KG-D6 gas block.

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