The Reserve Bank of India has refused to be part of a high-level committee headed by the Cabinet Secretary which was constituted to resolve stress in the power sector as it is not willing to relax norms to deal with bad loans.

De Beers, however, hoped that purchases made by Millennials and Gen Z generations will drive growth in the space.

Apart from the stay, the stressed power plants were also given another breather recently, when the high-level empowered committee constituted by the Prime Minister's Office allowed retaining fuel supply agreements (FSAs), Power Purchase Agreements (PPA) and long-term transmission network access rights.

The mid cap stock has clocked 44.62% gains during the last one year and rose 38.81% since the beginning of this year. The stock hit its all-time high of 1,116 points on August 29, 2018.

Defaulting companies in the power sector as well as some sugar, shipping and textile companies that had seemed destined for bankruptcy court under the RBI's new norms on stressed assets got a last-minute breather from the Supreme Court yesterday.

The SC order will also buy the stressed shipping and sugar companies, which had approached the top court against the order, some more time.

The guidelines set by the Department mandate that companies worth Rs 2,000 crore, and cash and bank balance more than Rs 1,000 crore have to mandatorily buy back shares.

In a critique of the March 2018 report of the Parliamentary standing committee on energy, CFA has stated that the recommendations suggested by the Committee to address the problem of stressed assets in power sector fall short of addressing the problem in an effective manner.

The two-day summit will see over participation from over 2000 industry giants like Mahindra and Mahindra, Hero MotoCorp, Maruti Suzuki, and several other stakeholders from research, academia and civic society.

Uber in talks with Indian regulators to understand modalities of aerial taxisRide-hailing app Uber, which is considering India among five global locations for its futuristic aerial taxi service, said it is in talks with regulators in the country to gauge the modalities and constraints of offering such a service. Last week, the Softbank-backed Uber had said it is considering India along with countries like Japan and France to be a part of Uber Elevate -- its aerial taxi service tha...

Failing to find resolutions for stressed power sector companies, lenders have decided to refer 11 companies, including Prayagraj Power Generation, GMR Chhattisgarh Energy and Jaiprakash Power Venture, to the National Company Law Tribunal.

Thirty-four stressed power sector accounts that defaulted on Rs1.5 lakh crore worth of dues are now before the National Company Law Tribunal - yet again.

Earlier this year, the Coal Ministry had ruled out any possibility of dry coal shortage in the upcoming monsoon season and said that it had sufficient stocks to meet the demand of power plants.

After Vodafone-Idea merger, Bharti Airtel is now no longer the country's largest mobile phone company in terms of subscribers and revenue share.

Other than convincing the RBI and bankers to back the road projects, Jaitley will also have to work with the central bank to develop financial institutions.

The deal, largest in the power sector, marks the entry of the Gautam Adani group, which thus far has only been into power generation and transmission, into the distribution space. For Reliance Infra, the sale is a big boost to pare its debt which stood at over Rs 22,000 crore.

Reliance Infrastructure (RInfra) today said it has completed the Rs 18,800-crore deal for sale of its Mumbai energy business to Adani Transmission, which will help it pare debt by two-thirds to Rs 7,500 crore.

As per the RBI's February-12 circular, the over 70 defaulting companies had been given six months starting from March, following which financial creditors were supposed to move the NCLT against them.

The RBI circular asks banks to identify projects with even a day's default as stressed assets, and conclude resolution proceedings in 180 days.  The circular came into effect on March 1 and the 180-day deadline concludes on August 27.

\"The size of the loss caused by the calamity is equal to the size of the annual plan the state has chalked out for 2018-2019. I need not have to tell you that Kerala on its own will not be in a position to mobilise the required resources to bridge the gap, reclaim, and rebuild,\" says Vijayan.