India's First Infrastructure Debt Fund Launched
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Four banking and financial services giants ICICI, LIC,Citicop Finance and Bank of Baroda on 5 March 2012 joined together to launch India’s first Infrastructure debt fund (IDF) to be structured as a non- banking finance company. This (IDF) was signed in the presence of the finance minister, Mr.Pranab Mukerjee. The company will have initial equity share of Rs capital of 300 crore
Brazil Economy Overtakes UK
Brazil claimed that the UK’s spot as the largest economy globally, after official figured its economy rose by 2.7% last year against the UK’s 0.8%. France remains in fifth place behind Germany, Japan, China and the US. The per capita income of Brazillian’s is at $11,000 per head.
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