Air India’s parent firm seeks capital infusion, soft loan

September 25th, 2009 UnionBanCal to get $2B cash infusion from parentSAN FRANCISCO — UnionBanCal Corp. said Friday it will receive a $2 billion capital infusion from its parent company, The Bank of Tokyo-Mitsubishi UFJ Ltd., by Sept.

September 16th, 2009 NEW DELHI - Stating that the revival plan for cash-strapped national carrier Air India was well on track, Civil Aviation Minister Praful Patel Wednesday said that his ministry will shortly seek cabinet approval for equity infusion into the airline. "There are two issues concerning Air India.

September 8th, 2009 Trina Solar receives $304 million loanNEW YORK — Trina Solar Ltd., a solar power company, said on Tuesday it received a loan of $304 million to expand capacity at its east campus location over the next three years. Loan proceeds will be used to fund capital expenditures for the rest of 2009 and pay back outstanding loans of about $80 million due on June 30.

August 18th, 2009 NEW DELHI - The government will infuse fresh capital into the regional rural banking system to increase credit flow to the farm sector, Finance Minister Pranab Mukherjee said here Tuesday. "The non-performing assets (NPA) levels of the regional rural banks (RRBs) are within acceptable limits.

August 6th, 2009 The servicers in gov't loan-modification planA look at the loan servicers in Treasury's mortgage-modification program, the taxpayer money they could receive and the percentage of eligible loans they've offered to modify so far. The servicers will keep some of Treasury's money and will pass some of it on to investors and homeowners.

July 29th, 2009 NEW DELHI - Airlines should follow the law of the land while frisking passengers in India, Civil Aviation Minister Praful Patel said Wednesday. Referring to the recent controversy over former president A.P.J.

July 29th, 2009 NEW DELHI - Union Civil Aviation Minister Praful Patel said on Wednesday airlines operating from India should follow the law of the land while frisking passengers in airports. Referring to the recent controversy over the frisking of Former President A.P.J.

July 21st, 2009 NEW DELHI - Civil Aviation Minister Praful Patel said here Tuesday that he would meet Prime Minister Manmohan Singh this week to discuss the appointment of independent directors to the board of Air India in a bid to revive the ailing national carrier. "I will be discussing names of eminent people who can give time and make a turnaround of Air India with the Prime Minister Manmohan Singh this week," Patel told reporters.

July 14th, 2009 NEW DELHI J - Union Civil Aviation Minister Praful Patel on Tuesday said the government is contemplating capital infusion by way of equity and soft loans for the cash-strapped Air India, which has deferred future aircraft delivery owing to losses of Rs 7,200 crore. Replying to a calling attention motion on Air India, moved by BJP MP Prakash Javadekar in Rajya Sabha today, Patel said, the Air India has adopted various measures to improve its financial position, and an equity infusion and soft loan by the Union Government would soften the airline's adverse financial situation.

July 7th, 2009 NEW DELHI - Cash-strapped national carrier Air India is expected to register a loss of Rs.5,000 crore last fiscal, Civil Aviation Minister Praful Patel told parliament Tuesday. "Nacil (National Aviation Co of India Ltd, that operates Air India) is expected to register a loss of approximately Rs.5,000 crore in 2008-09, largely due to high operating expenses, which have been compounded due to the present economic recession resulting in a drop in passengers," the minister said in a reply in Rajya Sabha.

July 6th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee Monday revived the government's divestment programme, promising equity of state-run enterprises in the hands of general public. He also said that in areas like banking and insurance, specifically, the majority control in state-run companies would remain in the hands of the government with fresh infusion of equity to help them remain globally competitive.

June 28th, 2009 ADDIS ABABA - China continues to make inroads into Africa, as it bagged yet another major order for building an 80-km expressway in Ethiopia. The order was given without any bidding as the construction of the six-lane expressway would be financed through a Chinese soft loan worth over $700 million.

June 8th, 2009 NEW DELHI - The government's decision to infuse fresh capital in public-sector banks (PSBs) will ease the rating pressure that they face because of the quality of loans, says the economic intelligence arm of global rating agency Moody's. "Asset quality at PSBs (public-sector banks) is bound to deteriorate over the short-to-medium term, while the level of restructured loans is also expected to increase significantly, therefore elevating their credit risk profile," said Nondas Nicolaides, vice president and senior analyst at Moody's.com in a statement Monday.

March 27th, 2009 NEW DELHI - Japan Friday committed itself to a Rs.7,158.32-crore ($1.43 billion) loan to India for four infrastructure projects, making the country the largest cumulative recipient of Tokyo's overseas development assistance programme. The bulk of the assistance, amounting to Rs.4,061.81 crore, is for the second phase of Delhi's mass rapid transit system to help India's national capital cope with increasing traffic, an official statement said.

March 7th, 2009 KOLKATA - The state-owned UCO Bank has decided to provide 50 basis points loan rate cut to borrowers in some sectors as incentives, a top bank official said here Friday. 'We have decided to give incentives of 50 bps to particular sectors like housing, auto and consumer loans.