New Delhi: NTPC Ltd will supply 300 MW of power to Bangladesh for 15 years at an estimated tariff of Rs 3.42 per unit.

NTPC Vidyut Vyapar Nigam (NVVN), a subsidiary of the state-owned thermal power producer, has emerged as the lowest bidder for the tender floated by the, Bangladesh Power Development Board (BPDB).

Bangalore: An explosion on a dry-docked drillship owned by the ONGC killed five workers and injured eight others at the Cochin Shipyard Ltd in Kerala on Tuesday.

Officials said the ship, Sagar Bhushan, was under repair at the shipyard when an explosion rocked a section of the vessel around 9.15am following an apparent gas leak near an air-conditioned compartment.

New Delhi: Idea Cellular Ltd’s board of directors has approved the issuance of equity shares worth up to Rs3,500 crore by way of qualified institutional placement (QIP) to eligible investors, the company said in a filing to the stock exchanges on Wednesday.

“The board has authorised the committee of directors to decide on the timing, price and exact quantum of equity shares to be issued,” the company said.

Mumbai: The Reserve Bank of India’s (RBI) decision to tighten norms for resolution of stressed loans, currently estimated at over Rs10 trillion, will improve recovery prospects from bad loans but keep banks’ provisioning requirement at an elevated level, analysts said.

Late on Monday, the central bank withdrew a host of norms such as strategic debt restructuring (SDR) and scheme for sustainable structuring of stressed assets (S4A) among others, and made the process time-bound.

The benchmark BSE Sensex gained 173 points to 34,473.43 in early trade rising for the second straight session on back of positive macroeconomic data and sustained buying by domestic institutional investors (DIIs) amid appreciating rupee.

Besides, a mixed trend in other Asian markets following positive lead from Wall Street buoyed sentiment here.

In a major fillip to the State government’s plans to develop the electronics industry, Reliance Industries Limited (RIL) has come forward to invest in Andhra Pradesh.

Mukesh Ambani-led RIL has plans to manufacture 10 million mobile phones per annum in Andhra Pradesh. The RIL is looking for 150 acres of land to start a cellphone manufacturing unit near Tirupati in Chittoor district.

Amid reports that GAIL (India) may be split into marketing and gas pipeline verticals, Indian Oil (IOC)—which has shown interest in acquiring the gas utility—reckons that either divisions or the total business of GAIL offers synergies for the oil marketing company (OMC).

“Whatever plans GAIL has in future in terms of expanding infrastructure, we can do that and there is a possibility of integration to execute the plans faster.

MUMBAI: Capital market regulator Sebi will meet credit rating agencies this week to explore ways to have quicker access to information on loan defaults by corporates. With the Reserve Bank of India (RBI) having so far refused to share the sensitive information beyond the banking industry, Sebi is keen that all rating agencies take membership of credit information companies (CICs) to obtain default data that banks have to report to CICs.

State Bank of India's boss Rajnish Kumar has said that the country's largest lender is now at the more ease in order to adapt technology.

Kumar also recalled how permission from the unions was required for purchasing even an electronic typrewriter in the 1980s while making his point.

India's Punjab National Bank said on Wednesday it had detected "fraudulent and unauthorised" transactions worth about $1.77 billion at one of its branches in Mumbai.

The bank said in a statement the transactions were "for the benefit of a few select account holders with their apparent connivance" and that "based on these transactions other banks appear to have advanced money to these customers abroad."

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