May 24, 2013
Nine borrowers of microfinance institutions (MFIs) in Medak and Warangal districts of Andhra Pradesh filed a petition in the Supreme Court in early May 2013 challenging a state high court order. In February 2013, the Andhra Pradesh high court asked the state government to review a law that restricted multiple lending by MFIs to the same borro
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Posted in
Banking & Finance |
May 24, 2013
Microfinance sector is said to be attracting funds from investors like private equity, venture capital funds as risk appetite in the sector improved. One of the reason for the return of investor confidence in the sector is the 40 per cent growth in the gross loan portfolio of NBFC-microfinance institutions (NBFC-MFIs) during 2012-13, sources said. For a long time after the Andhra Pradesh Ordinance of 2010, credit growth of MFIs remained
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Banking & Finance |
May 24, 2013
In order to implement the Hyderabad metro rail project successfully, the Andhra Pradesh government will have to rectify the technical error in terms of the Act governing the project. Earlier the Andhra Pradesh High Court said in its order that the project was being wrongly governed by the Tramways Act and unless it is changed to Metro Act it could not be called 'Metro
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Posted in
Urban Development |
May 23, 2013
Government has been taking steps to fast-track port projects in the country. One of the remarkable step in this direction is the streamlining of security clearances for companies participating in these projects. Some months ago, the government unveiled new norms under which security clearances granted to a company would be valid for
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Posted in
Ports |
May 23, 2013
Sources from the Kakinada anchorage (old) port in Andhra Pradesh informed that the infrastructure facilities need to be upgraded to attract more cargo. It may be noted that the port traditionally depends on rice and maize export cargo and volume of these cargoes declined of late
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Posted in
Ports |
May 23, 2013
The Union government has granted 'visa on arrival' facility to Hyderabad's Rajiv Gandhi International Airport.
With this, international passengers can now have a more convenient transit with this new offering. Such international tourists will be allowed to stay and tour in the country for 30 days. Visitors from 11 countries will be eligible to get a visa on arrival with effect from May 31.
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Posted in
Aviation |
May 22, 2013
The Andhra Pradesh government, faced with no takers for its information technology special economic zones in tier-II cities, is planning to de-notify them. The government is contemplating to convert these SEZs into other industrial parks. This is the first time that the State government is seeking to de-notify SEZs. Andhra Pradesh has in the past attracted investments from IT giants like Microsoft, Google and Facebook.
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Posted in
SEZ |
May 22, 2013
Andhra Pradesh Chief Minister N Kiran Kumar Reddy urged the union government to allocate more natural gas and coal in order to run power plants which are operating at low capacity owing to lack of fuel. He made the request for more coal and gas when he met
Union Petroleum and Natural Gas Minister M Veerappa Moily, Minister of State Jyotiraditya Scindia and Defence Minister AK Antony recently
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Posted in
Coal |
May 22, 2013
India has retained its position in top five world wind energy markets in 2012 despite poor pace of capacity addition in the states like Tamil Nadu, Andhra Pradesh, Karnataka and Maharashtra.
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Posted in
Renewable Energy |
May 22, 2013
The Andhra Pradesh government is set to buy power at the rate of Rs 3.50 per unit from domestic consumers who install solar units at their residences and generate power more than their individual requirement. The State government is hoping to lure residents to opt for solar power and is offering them monetary benefits.
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Posted in
Renewable Energy |
May 22, 2013
Some political parties urge the Andhra Pradesh government to transfer the mining leases alloted to Obulapuram Mining Company (OMC), which is facing charges of illegal mining, in favour of Bramhani Steel. Former Karnataka Minister Gali Janardhana Reddy and his brothers are the promoters of Bramhani Steel. They also own the
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Posted in
Mining |
May 22, 2013
Andhra Pradesh New and Renewable Energy Development Corporation (AP Nedcap) has said that the industry as well general consumers should make full use of the subsidies and incentives given by the State Government and the Union Government to tap solar energy and reduce pressure on conventional sources of energy.
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Posted in
Renewable Energy |