ICICI to provide $150 m to Indian companies
Kolkata: ICICI Venture is gearing itself to play a major role as provider of private equity capital to Indian companies.

The company is also raising about $150 million for medium and late stage funding of several projects before the end of the current fiscal year.

Said ICICI managing director, Renuka Ramnath, The largest and the oldest venture capital funding company in India with a fund base of $250 million, it has already been providing late stage capital to corporates for growing these companies.

She said the structural changes that have taken place in the capital market in the last few years has resulted in a tactical shift in the attitude with regard to bearing risks.
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RBI concessions for sick SSIs
Mumbai: The Reserve Bank of India has suggested concessions by banks for revival of small sick units and early corrective action for their rehabilitation. These have been outlined in the draft guidelines circulated by the apex bank.

The RBI has said banks may waive off penal interest rate charges from the accounting year in which the unit started incurring cash losses continuously.

RBI has also suggested that the rate of interest on term loans could be lowered from the documented rate by three per cent or less for tiny or decentralised sector units and not more than two per cent for other SSI units.
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