Financial Institutions

Financial sector plays an indispensable role in the overall development of a country. The most important constituent of this sector is the financial institutions, which act as a conduit for the transfer of resources from net savers to net borrowers, that is, from those who spend less than their earnings to those who spend more than their earnings. The financial institutions have traditionally been the major source of long-term funds for the economy. These institutions provide a variety of financial products and services to fulfill the varied needs of the commercial sector. Besides, they provide assistance to new enterprises, small and medium firms as well as to the industries established in backward areas. Thus, they have helped in reducing regional disparities by inducing widespread industrial development. The Government of India, in order to provide adequate supply of…
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Highway toll may be exempted for pvt vehicles

The drive on national highways may be a zip, with road ministry planning to exempt buses and private vehicles - cars, jeeps and two-wheelers - from toll across the country. The Nitin Gadkari-led road transport and highways ministry's plan to spare buses and non-commercial vehicles from paying toll would cost the exchequer Rs. 27,000 crore over a five-year period between 2014 and 2019, sources said. In a proposal being readied for the prime minister's office, the ministry has called for making good the loss by a Rs. 1 increase in the cess on petrol and diesel and a one-time fee - 2% of the cost - on the purchase of new personal vehicle. Existing private vehicle owners would also have to chip in by a one-time payment of Rs. 1,000. Officials said rather than just making up for the losses, the new…
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Government Funding and Schemes

An entrepreneur requires a continuous flow of funds not only for setting up of his/ her business, but also for successful operation as well as regular up gradation/ modernization of the industrial unit. To meet this requirement, the Government (both at the Central and State level) has been undertaking several steps like setting up of banks and financial institutions; formulating various policies and schemes, etc. All such measures are specifically focused towards the promotion and development of small and medium enterprises. The public sector banks are the major source of financial assistance to the industrial sector. They extend credit support to the firms in the form of loans, advances, discounting bills, project financing, term loans, export finance, etc. Some of the major examples of such banks are:- 1.       State Bank of India (SBI) provides a wide range…
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Indian Highways Management Company Ltd

WHAT IS IHMCL ? NHAI jointly with its Concessionaires and Financial Institutions incorporated Indian Highways Management Company Limited (IHMCL) on 26.12.2012 under the Companies Act, 1956 to carryout Electronic Tolling and other ancillary projects of NHAI. Indian Highways Management Company Limited (IHMCL) was incorporated on 26.12.2012under the Companies Act, 1956 to carryout Electronic Tolling and other allied works by NHAI jointly with its Concessionaires and Financial Institutions. The shareholding pattern of stakeholders is NHAI – 25% Concessionaires – 50% and Financial Institutions – 25%. The authorized capital of the Company is Rs 40 Crore. WHAT They do? Presently, IHMCL is implementing Electronic Toll Collection (ETC) on National Highways in India using Passive RFID (Radio Frequency Identification) technology. In addition, IHMCL is conducting Traffic Surveys at over 1600 locations on National Highways using portable Automatic Traffic Counters and Classifiers (ATCC) systems.…
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