FDI in airports to be limited to 49 percent
New Delhi: The United Progressive Alliance government (UPA) proposes to scale down the foreign direct investment (FDI) limit in the Mumbai and Delhi airports from 74 per cent to 49 per cent. Further, the Airports Authority of India (AAI) and some other public sector undertakings would hold 26 per cent stakes in the new ventures to be created for managing the two airports.

The government feels that the public sector stake will represent the government's interests while the balance 25 per cent will be offered to Indian entities. This decision on FDI is being seen as setting the precedent for other FDI proposals on contentious sectors like retailing and telecom.
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Indian companies raise $1,756 m in April through ECBs
Mumbai: In the month of April this year Indian companies have raised funds worth $1,756 million through external commercial borrowings. This includes borrowings through both the automatic and the approval routes. According to Reserve Bank of India data, a total of 73 proposals for ECBs went through the automatic route. The amount raised through these proposals was $1,356 million.

Under the approval route, two proposals, including one of Exim Bank of $300 million and Power Finance Corporation of $100 million, were approved for a maturity period of five years each.
The total amount under the approval route was $400 million.
Some of the prominent borrowers in April were Reliance Industries ($250 million), Tata Motors ($300 million for seven years and $100 million for five years), Ashok Leyland ($100 million,) Zee Telefilms ($100 million), Bharti Telefilms ($115 million) and Mahindra & Mahindra ($115 million for five years and $15 million for six years), among others.
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