Amid rising concerns over the strict infrastructure lending norms, the Reserve Bank of India (RBI) widened the definition of infrastructure lending and also added new sub-sectors for the lending list including water & sanitation, transport, energy, communication, social and commercial infrastructure. The RBI in its notification has said that new sub-sectors will get classified as infrastructure for the purpose of lending by banks and select All India Term-Lending and Refinancing Institutions from the date of this circular.
RBI notification further said that hotels with a project cost of more than Rs 200 crore each and convention centres with project cost of more than Rs 300 crore each come under 'Social and Commercial Infrastructure' category for this kind of lending. The RBI has widened infrastructure-lending norms for sub-sectors as the government has recently written to central bank seeking changes in the rules of infrastructure financing in order to expedite the implementation of infrastructure development in the country.
The government has identified the development of infrastructure a most critical prerequisite for sustaining the present growth momentum of the economy. Meanwhile in order to expedite the implementation of infra projects, the government has been taking various measures. Recently, it has set up Cabinet Committee on Investment (CCI) to accord fast track clearances to large projects. Untill now, the CCI had cleared 209 projects worth Rs 3.84 lakh crore. Meanwhile, for the 12th Five Year Plan (2012-17), the government has set the $1-trillion investment target for the infrastructure sector.
RBI notification further said that hotels with a project cost of more than Rs 200 crore each and convention centres with project cost of more than Rs 300 crore each come under 'Social and Commercial Infrastructure' category for this kind of lending. The RBI has widened infrastructure-lending norms for sub-sectors as the government has recently written to central bank seeking changes in the rules of infrastructure financing in order to expedite the implementation of infrastructure development in the country.
The government has identified the development of infrastructure a most critical prerequisite for sustaining the present growth momentum of the economy. Meanwhile in order to expedite the implementation of infra projects, the government has been taking various measures. Recently, it has set up Cabinet Committee on Investment (CCI) to accord fast track clearances to large projects. Untill now, the CCI had cleared 209 projects worth Rs 3.84 lakh crore. Meanwhile, for the 12th Five Year Plan (2012-17), the government has set the $1-trillion investment target for the infrastructure sector.
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