INFRASTRUCTURE

    
  

Positra becomes first SEZ to achieve financial closure   
The Rs.6,000 crore Positra Special Economic Zone (SEZ) in Gujarat has become the first SEZ to achieve financial closure. IDBI has sanctioned a package that comprises an equity component of Rs.100 crore and has also subscribed to secured convertible notes worth another Rs.100 crore. This package also consists of a term loan of Rs.500 crore and a foreign currency loan of $64.24 million (about Rs.300 crore) to develop the SEZ at Positra in Gujarat. The debt requirement for the project is expected to be syndicated.    

Bio-tech park in Himachal   
The Centre has approved projects worth about Rs.5 crore for Himachal's first bio-technology park at Nankaghat. As per the recently announced bio-technology policy, Himachal proposes to set up two such parks.   

Housing loans see 50% growth in one year   
The home loan segment has seen a 50 percent jump in total disbursements mainly due to various tax sops, downslide in property prices and lowering of interest rate on loans. Estimated to be Rs. 17,000 crore (loan disbursement) to day, the home loan market is expected to touch Rs. 25,000 crore by the end of this financial year.   
  
  

Quiz Answers   
  
1. a) Banks distributing insurance products  
2. b) US $ 5,000  
3. b) Insurance  
4. b) Nominal rate less inflation  
5. b) Gold and Silver  
6. c) Two Successive quarters of negative growth.  
7. b) Cardiff  
8. a) Bubble  
9. c) Religious sensitivity  
10. c) HSBC