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December 17, 2018, Monday

Your Evening News Updates From Across The Media Space

Power sector NPA crisis coming to an end? About Rs 70,000 crore bad debts near resolution, says SBI

Power sector NPA crisis coming to an end? About Rs 70,000 crore bad debts near resolution, says SBI

Delinquent loans worth as much as 700 billion rupees ($10 billion) in India’s power sector are in the process of being resolved, according to the nation’s largest bank, helping lenders avoid dragging seven accounts to bankruptcy court under new norms laid out by the regulator.

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Big blow to power companies! Allahabad HC refuses interim relief on RBI circular on NPA; matter now in SC

Big blow to power companies! Allahabad HC refuses interim relief on RBI circular on NPA; matter now in SC

In a big blow to defaulter power companies, Allahabad High Court has refused to grant interim relief against Reserve Bank of India (RBI) February 12 circular setting 180-day timeline for resolution of stressed assets or undergo insolvency process

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Adani Power close to acquire GMR Chhattisgarh power plant

Adani Power close to acquire GMR Chhattisgarh power plant

Indian billionaire Gautam Adani’s energy unit is nearing a deal to acquire a 1,370-megawatt thermal power plant backed by GMR Infrastructure Ltd., according to people with knowledge of the matter.

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Power ministry directs regulator to pass on changes in duties to consumer tariffs

Power ministry directs regulator to pass on changes in duties to consumer tariffs

In a rare move, the government has issued a direction to power regulator Central Electricity Regulatory Commission (CERC) to allow changes in any central or state government duties to be passed in electricity tariffs to consumers post bidding.

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Lenders will have 15-days to resolve the stressed accounts that come within RBI's Feb 12 circular

Lenders will have 15-days to resolve the stressed accounts that come within RBI's Feb 12 circular

Banks will have a window of another 15 days to resolve the stressed assets that comes within the remit of the Reserve Bank of India’s February 12 circular that directs lenders to resolve stressed assets over Rs 2000 crore or refer them to the bankruptcy court.

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Bengal Govt to add 2,000 MW of power in 5 years

Bengal Govt to add 2,000 MW of power in 5 years

The West Bengal Government is planning to add 2,000 megawatt (MW) of power over the next five years and also planning to incorporate the latest technologies to reduce distribution and transmission losses.

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GE Power India to shut Gujarat manufacturing plant from today

GE Power India to shut Gujarat manufacturing plant from today

GE Power India today said it will close down operations at its Maneja (Vadodara) manufacturing plant in Gujarat from tomorrow. The company said 95 per cent of workmen at the facility have opted for the a Voluntary Retirement Scheme (VRS

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Close to resolution of 7 stressed power accounts, says SBI

Close to resolution of 7 stressed power accounts, says SBI

The Reserve Bank of India’s (RBI) February 12 circular said all stressed assets will either get resolved by August 27 or get taken to the National Company Law Tribunal (NCLT). Arijit Basu, MD of State Bank of India spoke at length about the assets, which are currently valued at over Rs 2,000 crore.

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Deluge: Rs 400 crore loss for KSEB

Deluge: Rs 400 crore loss for KSEB

Power minister M M Mani said the department suffered a loss to the tune of Rs 400 crore following the devastating floods. About 25 lakh power connections have been snapped across the state.

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RBI deadline for resolution of ₹ 3.8 trillion in NPAs ends today

RBI deadline for resolution of ₹ 3.8 trillion in NPAs ends today

With the deadline set up by Reserve Bank of India (RBI) for resolution of stressed assets worth around ₹ 3.8 trillion coming to an end today, all eyes are on the expected Allahabad high court judgement on a clutch of petitions against the central bank’s 12 February circular.

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Green Group Favours Impact Assessment Of Each Hydro Project In Himachal

Green Group Favours Impact Assessment Of Each Hydro Project In Himachal

Environment group Himdhara Collective on Sunday sent a letter to the expert committee of the Union Ministry of Environment, Forest and Climate Change, demanding cumulative impact assessment of each hydropower project on the Satluj river basin.

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Tata's backed Resurgent Power makes better offer for Prayagraj Power

Tata's backed Resurgent Power makes better offer for Prayagraj Power

Resurgent Power Ventures, a company backed by the Tata Group and ICICI Ventures, has submitted what may be a better offer for Prayagraj Power Generation Company than JSW Energy’s bid, even though they both appear to be the same at about Rs 6,000 crore.

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SAIL set to exit non-performing, non-operational joint ventures

SAIL set to exit non-performing, non-operational joint ventures

India’s largest steel maker SAIL has started process to exit some of its joint ventures that are either non-operational or non-performing, the public sector major has said in a report. The steel maker is also exploring options to monetise its investment in certain JV companies, the latest report said.

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Russia will work with India for localisation of equipment for nuclear power plants: Andrey Shevlyakov, CEO, Rosatom South Asia

Russia will work with India for localisation of equipment for nuclear power plants: Andrey Shevlyakov, CEO, Rosatom South Asia

The Kudankulam Nuclear Power Plant (KNPP) is one of the largest nuclear power station in India. It is scheduled to have six VVER-1000 reactors with an installed capacity of 1,000 MW each.

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India to announce new Bio-ATF policy soon: Oil minister Dharmendra Pradhan

India to announce new Bio-ATF policy soon: Oil minister Dharmendra Pradhan

The oil ministry will soon announce a new Bio-Aviation Turbine Fuel (ATF) policy, oil minister Dharmendra Pradhan said today. The idea is to promote the use of clean biofuel in aviation.

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Government receives 150 proposals to build ethanol capacity

Government receives 150 proposals to build ethanol capacity

The government has so far received around 150 proposals from sugar mills like Bajaj Hindustan, seeking soft loan under a recently launched scheme for expansion and setting up of a new ethanol capacity, a senior Food Ministry official said today.

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Shell to buy out Total in Hazira LNG terminal

Shell to buy out Total in Hazira LNG terminal

Royal Dutch Shell today said it will acquire French oil major Total's 26 per cent stake in the company that operates 5-MTPA Hazira LNG terminal in Gujarat. The size of the deal was however not disclosed.

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Diesel price hits record high of Rs 69.46 a litre, petrol inches towards Rs 78 mark

Diesel price hits record high of Rs 69.46 a litre, petrol inches towards Rs 78 mark

Diesel prices on Monday hit a record high of Rs 69.46 per litre while petrol rates inched towards Rs 78 a litre mark after a fall in rupee made imports costlier.

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Petrol and diesel prices are already high, futures trading in them will only be speculative in nature

Petrol and diesel prices are already high, futures trading in them will only be speculative in nature

The Securities and Exchange Board of India (SEBI) is reported to be in the final stages to permit futures trading in petrol and diesel—Indian Commodity Exchange Ltd (ICX) has urged SEBI to allow it to trade in futures contracts for petrol and diesel.

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Iran to open lawsuit against US sanctions at ICJ

Iran to open lawsuit against US sanctions at ICJ

Iran will argue today against renewed sanctions imposed by the United States, as a bitter legal battle between Tehran and Washington opens before the UN's top court.

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Industry body offers help to power utility firm to set up EV charging points

Industry body offers help to power utility firm to set up EV charging points

Bangalore Chamber of Industries & Commerce (BCIC) has offered to partner with Bangalore Electricity Supply Company (BESCOM) to support setting up of electric vehicle charging points in Bengaluru.

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Mumbai-Ahmedabad bullet train project: How turning coaches into clinics will help Indian Railways acquire land

Mumbai-Ahmedabad bullet train project: How turning coaches into clinics will help Indian Railways acquire land

Mumbai-Ahmedabad bullet train project: In a bid to provide healthcare facilities to those whose land is required for India’s first high-speed rail project, Indian Railways has decided to take several measures such as conversion of railway coaches into prefabricated polyclinics, according to officials stated in an HT report.

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Initial trial runs on new Delhi Metro's Red Line stretch starts

Initial trial runs on new Delhi Metro's Red Line stretch starts

The Delhi Metro Rail Corporation (DMRC) has started with the initial trial runs on the 9.41-km long Dilshad Garden-New Bus Adda corridor, which is an extension of the currently running Dilshad Garden-Rithala corridor (Line 1) of the Red Line.

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Auction of 8 highways to fetch Rs 5,400 crore

Auction of 8 highways to fetch Rs 5,400 crore

The government will kick off the auction of the second tranche of eight completed national highway projects on Wednesday, which is likely to generate about Rs 5,400 crore.

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IRCTC must refund ticket amount for train cancelled by Railways: Consumer forum

IRCTC must refund ticket amount for train cancelled by Railways: Consumer forum

The South Mumbai District's consumer dispute redressal commission has pulled up IRCTC, the subsidiary of Indian Railways for failing to refund the ticket charges of a train that was cancelled by the Railways due to some unavoidable circumstance.

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It’s a first for Indian Railways! Aluminium coaches that allow better train speeds to be manufactured soon

It’s a first for Indian Railways! Aluminium coaches that allow better train speeds to be manufactured soon

For the very first time in India, the Modern Coach Factory (MCF) in Raebareli is likely to make lighter and more durable aluminium coaches, according to officials, quoted in an HT report.

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Indian Railways new dwarf containers have 67% more volume; could be a game-changer in capturing high-end traffic

Indian Railways new dwarf containers have 67% more volume; could be a game-changer in capturing high-end traffic

The Hindu mythology talks about Mahabali, the Asura, who grows too big for his boots. In a ceremony where he is giving away gifts, Lord Vishnu appears disguised as Vamana, a dwarf, and asks him three paces of land, and Mahabali agrees.

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Indian Railways flags off Nainital-Dehradun Janshatabdi Express

Indian Railways flags off Nainital-Dehradun Janshatabdi Express

On Saturday, August 25, the Indian Railways launched Naini-Doon Jan Shatabdi Express in order to link the two popular destinations Nainital and Dehradun located in Uttarakhand state.

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Services on Delhi Metro's Yellow Line hit due to power tripping

Services on Delhi Metro's Yellow Line hit due to power tripping

Train services on the Yellow Line of the Metro between Chhattarpur and HUDA City Centre were suspended on Sunday between 9:55 am to 12:40 pm because of a problem in the overhead electrification (OHE) wires leading to the tripping of power supply on this section.

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