Talks are on with SBI for $11-bn infra fund: Montek

Talks are on with SBI for $11-bn infra fund: Montek

The government is in talks with State Bank of India over an $11-billion fund as the country seeks to raise finances to build roads, ports and power plants. The government is holding discussions with SBI and a couple of other players for a debt fund that would buy bonds sold by infrastructure companies, Planning Commission deputy chairman Montek Singh Ahluwalia said.SBI may act as an anchor investor along with one or two local or foreign funds, he said.

Ranked below Ivory Coast for the quality of its public facilities, the nation will need an estimated $1 trillion in infrastructure in the five years to March 2017 to reach such an expansion rate.

Prime Minister Manmohan Singh last week allowed overseas investors to buy $5 billion more bonds with a five-year maturity sold by infrastructure companies,boosting permitted foreign investment in corporate debentures to $20 billion.

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Company Name	CMP
State Bank Of India	997.00
PNB	116.65
Bank Of Baroda	237.80
Canara Bank	123.90
Union Bank Of India	178.00
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Company Name

CMP

State Bank Of India

997.00

PNB

116.65

237.80

123.90

178.00

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