PE funds, NRIs invest cautiously in new capitals : Knight Frank
Sharath Chowdary Though the Government of Andhra Pradesh is aggressively trying to attract global investments for the development of the new capital city, investors are adopting a "wait and watch" approach to invest in the projects of the nearby urban centres like Vijayawada and Guntur. Private equity (PE) firms and non-resident Indians (NRIs) are observing the developments taking place in and around the new AP capital – Amaravati. Being cautious on the returns, they are still evaluating the growth prospects of the city, Knight Frank India Chief Economist and National Director-Research Samantak Das told The Dollar Business Bureau. He had released a detailed report on the two upcoming state capitals - Amaravati (AP) and Naya Raipur (Chhattisgarh), on Wednesday. The ...
Axis Bank strengthens remittance offering in Gulf countries
Axis Bank caters to NRIs through its offices in the UAE offers automated remittance processing engine Source: PTI Axis Bank has its presence in Singapore, Hong Kong DIFC - Dubai, Colombo and Shanghai, Representative Offices at Dubai & Abu Dhabi and Dhaka Axis Bank has announced its ambitious plans to further strengthen its remittance offering in the Gulf Cooperation Council (GCC) region by providing new channels of money transfer to existing NRI customers. "The Bank continues to expand its partner network across the GCC region with specific focus on getting into more arrangements with Correspondent Banks while continuing to actively manage our large existing exchange house relationships," said Rajiv Anand, group executive & head, retail banking at Axis Bank. Anand said that this has ...
'FDI cap in defence, banking to keep fly-by-night operators away'
The Dollar Business Bureau The Minister of State for Commerce & Industry (Independent Charge), Nirmala Sitharaman addressing at the felicitation of the 1.25 Million International Registration Number (IRN) Certificate for Trade Mark and Madrid Seminar, in New Delhi on July 20, 2015. Source: PIB, Government of India Putting a cap on overseas investment in defence and banking sectors will keep fly-by-night operators away from investing in these areas, said the government on Monday. Union Minister of State for Commerce and Industry Nirmala Sitharaman on Monday clarified the new foreign direct investment (FDI) norms, saying that defence and banking sectors have been kept away from the list of composite cap, because the government does not want investors looking for quick money ...
