Housing finance firm Repco Home Finance Ltd (RHFL), promoted by Chennai-based Repco Bank, is planning to explore access to low-cost funds to maintain its capital adequacy ratio and strengthen its balance sheet. The housing finance company, which focuses on tier II and tier III cities, also has future strategy to strengthen its presence in the four southern states it is present in and expand operations to the other states, said company officials.At present, almost 45 per cent of the funding is low-cost refinancing from National Housing Bank (NHB), which is primarily for the prime sector lending mainly in the rural housing sector, while around 44 per cent of the funding is from around 10 banks and the rest 11 per cent is from the promoter firm, Repco Bank, which is a repatriates' co-operative finance and development bank under the Union government."We would like to access other types of low cost funds," said R Varadarajan, managing director, RHFL. The options like non-convertible debentu

Repco Home Finance to look at low-cost funding

BS Reporter

Pune Marriott Hotel and Convention Centre has been converted to JW Marriott, Pune which is the First MHRS (Marriott Hotel Resorts & Suites) property in Asia Pacific to undergo a conversion within 2.5 years from its launch. JW Marriott is part of the group's luxury portfolio.Now this is the thirdÂ  JW property after JW Mumbai and the JW Chandigarh. Marriot is planning to open two hotels under the JW brand in Delhi and Bangalore. Additional investment of Rs 12crore has been made for this conversion. Considering Pune's growth and the business generated by this property, it has been rebranded as JW Marriott.Commenting on this development, Rajeev Menon, area vice president, South Asia and Australia said, "In India, this is the first conversion being done by Marriot."

Pune Marriott rebranded as JW Marriott

The electronic writing pads will be loaded with the e-content in terms of curriculum

Goa govt announces e-note books for fifth and sixth graders

Press Trust of India

The Gujarat government on Wednesday inked pact with Kangan Institute of Victoria, Australia, for skill development in automotive sector, and signed a memorandum of understanding (MoU) with a private company for manufacture of environmental monitoring equipment.Speaking on the agreements chief secretary Varesh Sinha said, "While the state government is committed towards industrial growth we also are focussed on providing vocational education to ensure that the states youth gets employment and at the same time safeguard the environmental balance."The board of Kangan institute will jointly work with partners such as Maruti Suzuki, Ford Motors, GMDC and IIT Gandhinagar under the umbrella of International Automotive Centre of Excellence (i-ACE) to promote skill development in automotive sector, an official release said.The agreement will provide the framework within which detailed proposals for programs for establishment of International Automotive Centre of Excellence, skills development ,

Gujarat  govt signs MoUs for skill development, environment monitoring

Company to take a final decision during board meeting in April

Maruti may start work on Gujarat plant in Q1 of FY14

Business Standard

The ruling Biju Janata Dal (BJD) said it will oppose tooth and nail the Centre's plan to offload 12.5 per cent stake in National Aluminum Company (Nalco).

BJD, Nalco staff oppose disinvestment

The Odisha government is considering an alternative location for allotment of 25-30 acres of land for Mindspace IT park proposed by Mumbai-based K Raheja Corporation.

Alternate land for Raheja IT park

Culture shrimp production likely to dip by 30%

Stricter norms force shrimp farmers to go for low stocking

"...nothing short of their return to India must be the acceptable outcome," he posted on Twitter

Modi asks UPA govt to explain how to bring back Italian marines

Affected families were compensated according to guidelines issued by state revenue department in 1996

New rehabilitation package for Tata Steel's Gopalpur project

BIJ began in Oct 2010 as an effort to bridge the rural and urban gap through rural transformation and farmers' empowerment

Reliance Foundation to replicate Gujarat BIJ success in other states

West Bengal Labour minister Purnendu Bose today said that overuse of strike as a weapon had blunted it and urged workers not to resort to it.

Workers should not resort to strikes

West Bengal, with a three per cent share in IT exports in the country at present, is targetting to increase it to 25%.

Bengal targets 25% share in IT exports: Partha Chatterjee

Though the recent by-poll results proved that the Left Front stands to gain whenever there is a division of anti-Left votes, Congress and Trinamool Congress are not ready to enter into an alliance all over again, at least not in the immediate future.

Congress, Trinamool Congress rule out alliance in near future

Only 20 days are left in the end of 2012-13 financial year, but the state which is under President's rule since January 18 could not even spend over 25 per cent of its annual budget of Rs 37,113 crore.

Jharkhand lags behind in spending budget funds

With business of the company growing as per expectations in the North Eastern states in the recent years, direct selling FMCG (fast moving consumer goods) company Amway is now betting big on the region.

Amway eyes 'double digit' growth in North East

DLF, Rajiv Gandhi Charitable Trust feature prominently

CAG pulls up Haryana govt on land deals

The tactics of hackers, cyber- criminals and state-sponsored spies are evolving so quickly that attackers often can re-enter a company's networks after being detected and banned, according to a US computer security firm.

Cyber attackers shift tactics faster than companies can respond

Bloomberg

A report on their anti-competitive practices, if endorsed by the Competition Commission of India, could hit revenues in the short run but turn to their advantage in the futureThere is some good news for vehicle owners. The repair and maintenance costs on their cars could come down soon if a report on monopolistic behaviour of automobile makers is accepted by the country's anti-trust watchdog, the Competition Commission of India (CCI).A report by director general (Investigation) has found 17 automobile manufacturers guilty of indulging in anti-competitive practices by restricting supply of spares in the open market.If endorsed by CCI, hefty penalties are likely to be imposed on all major car makers. A person in the know indicates that foreign car makers are more susceptible to being held accountable on the charges than the homegrown companies."Homegrown companies such as Tata Motors and Mahindra & Mahindra sell spares in the open market except for a few models. Hyundai, too, has sta

Automobile makers' anti-trust troubles

The first orders from new production line have been delivered and over 200 Megawatts (Mw) of orders are booked

ABB sets up solar inverter plant

Tamil Nadu and Puducherry together accounted for $9.14 billionKarnataka has emerged the third largest investment destination for foreign direct investment (FDI) in the country during the last decade. The state has received a cumulative investment of $10.14 billion between 2000 and August 2012, ahead of Gujarat and Tamil Nadu, which have seen much higher industrial investment projects during this period.According to the Economic Survey of Karnataka for 2012-13, the total FDI inflows to the state in the last decade accounted for 6 per cent of the total FDI inflows to India. The ranking is based on the data provided by the Reserve Bank of India (RBI).However, the state is listed behind the National Capital Region (comprising Delhi, Part of UP and Haryana), which stood at the second position with an inflow of $34.41 billion and the Mumbai region (comprising Maharashtra, Dadra & Nagar Haveli, Daman and Diu), which received an FDI inflow of $57.25 billion during the last decade. Mumbai a

Karnataka ranks third in FDI inflows with $10.14 bn

- Find Specials News, Features, Analysis and more at Business Standard. Business Standard brings in-depth coverage of major events, issues and developments in India

Page 1306 - Specials News