สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 3 เมษายน 2557
1. RBI gives in-principle approval to bank licences for IDFC, Bandhan
The Reserve Bank of India (RBI) on Wednesday approved in-principle licences to infrastructure finance company IDFC Ltd and microlender Bandhan Financial Services Pvt. Ltd to start new banks—only the third time in two decades.
Both these companies were seeking a licence because a bank has access to lower cost deposits in the form of savings and current accounts. A finance company has to borrow from banks, or sell bonds to raise funds, forcing them to charge more from borrowers.
The new licences are aimed at providing banking services to the 65% of adults in the country who are still without access to formal banking services. A total of 25 entities were in the race for new banking licences including Reliance Capital Ltd, Aditya Birla Financial Services Group, L&T Finance Holdings Ltd, and India Post.
RBI requires new banks to hold minimum capital of Rs.500 crore. They must open at least 25% of branches in rural centres and lend 40% of its money to segments such as agriculture, small businesses, retail traders, professionals and self-employed individuals.
(Source: Live Mint, Economic Times)
2. Tata-Singapore Airlines venture gets Aviation Ministry nod
The Tata (51%)’s joint venture (JV) with Singapore Airlines (49%) has got the nod from the Aviation Ministry on Wednesday, a second-last step before full operation, which will enable the company to approach the Directorate General of Civil Aviation (DGCA) for securing an air operator’s permit. This puts SIA one step behind Malaysia’s AirAsia in entering Indian aviation market.
The JV has already reportedly received the mandatory security clearance for its three directors from the Union Home Ministry, a major pre-requisite for getting a NOC from the Aviation Ministry. The joint venture received approval from the Foreign Investment Promotion Board last October.
(Source: The Hindu, Economic Times)
3. Doha Bank to open 1st branch in India next month; eyes $5bn business in 3 years
The second largest Qatari lender Doha Bank will be opening its first branch in India in Mumbai in May and has set a target of USD 5-billion balance-sheet by the third year of operations. The Qatari lender is the third Arab lender to have operations in the country after Bank of Bahrain & Kuwait and Abu Dhabi Bank.
Doha Bank already runs a brokerage in the country (Doha Brokerage) with 41 per cent stake, the rest of the holding being held by local brokers of Kochi. Sitharaman said the bank has no plan to scale it up, nor does it have any exit plans.
Doha Bank has branches in Kuwait, Dubai and Abu Dhabi and representative offices in Singapore, Turkey, Japan, China, Britain, Canada, Germany, Australia, Hong Kong, South Korea and Sharjah.
(Source: Times of India)
4. Tata Motors to enter Philippines
Tata Motors today announced its entry into the Philippines market at the Manila International Auto Show (MIAS), 2014. The company will commence its business in Philippines with exports of the Manza, the Vista, the Indigo and the Indica from its passenger vehicles portfolio and the Xenon, the Ace and the Super Ace from its commercial vehicles range. Tata Motors has appointed PilipinasTajAutogroup Inc., as its distributor in Philippines.
The company will enter with the Manza Sedan, Vista Hatch, Indigo Sedan and Indica Hatch. Going forward it plans to augment its offerings by including other products in its portfolio on a regular basis, Johnny Oommen, Head, International Business – Passenger Vehicles, Tata Motors, said.
(Source: Business Line, Business Standard, Economic Times)
Thaiindia.net team
3 April 2014