The revised Mega Power Policy (MPP), which was announced by the Cabinet Committee of Economic Affairs (CCEA) in May this year, is yet to be notified. Close to 32,000 Mw of coal-based power plants are waiting to receive funds totalling Rs 6,500 crore.

The funds are required for duty refund that power developers get on the tax duties they pay for importing equipment. The CCEA extended the time period for thermal power producers to receive 'mega power' certificate to 10 years from the existing five years.

Private lender YES Bank has gone in for "rationalisation" of workforce to address certain "redundancies", the company has said.

According to reports, the bank has reduced its workforce by nearly 2,500 on account of digitisation and automation.

MUMBAI: Idea Cellular, the third-largest telco in India, will be the worst hit by the 57% reduction in interconnect user charges starting next month, according to analysts. Reliance Jio Infocomm, which paid the highest IUC charges till now, will be the biggest beneficiary, with a likely 76% push in its operating income by the year ending March 2019, they said.

Jio’s gains may translate into lower prices, triggering another bruising price war just when the industry was said to on the verge of a recovery with the latest entrant having to charge for its data services, UBS said. Jio may use its savings to add towers and widen its coverage and expand 4G services, Bank of America Merrill Lynch said.

Sebi Chairman Ajay Tyagi has pitched for multiple products and fundraising avenues for investors so as to help broaden participation in the capital markets.

Besides, he said, developing currency-bond-derivatives links by creating suitable conditions and right enabling infrastructure could also attract investors to the markets.

Hospitality chain Lemon Tree Hotels has filed draft papers with markets regulator Sebi to float an initial public offering.

The public offer comprises sale of up to 195,797,000 equity shares by the existing shareholders, including Maplewood, Whispering Resorts, Palms International and RJ Corp, according to the draft red herring prospetus (DRHP).

The Railway ministry is looking at ways to speed up the electrification process as it would help cut down Rs 16,000 crore expense on diesel, Union Minister Piyush Goyal said today.

He said the ministry is consulting all the people who are involved in the electrification process.

Software development, sales, business management and marketing related jobs are currently the most desirable in the Indian job market, says a report.

According to employability assessment firm Aspiring Minds' Skill Map, software developer role has the highest demand of 9.74 per cent, followed by sales profile at 8.17 per cent and customer service roles at 6.53 per cent.

Reliance Jio on Wednesday made an announcement offering the company's Wi-Fi dongle at a 50 per cent discount under the new festive offer. The JioFi Festive Celebration Offer is valid from September 20-September 30. Under this offer, the JioFi device is available at a price of Rs 999 instead of the original price of Rs 1,999

However, this festive celebration deal is exclusively available for Reliance Jio Prime members on the specific JioFi M2S model. Also, this offer cannot be clubbed with any other offer from the company.

MANGALURU: As senior ministers in Prime Minister Narendra Modi's government are looking for solutions to revive economic growth, the ASSOCHAM has submitted an action plan for doubling the contribution of the mining sector to the national GDP and adding to the employment. The action plan includes compensation to the investors in case clearances are delayed.

State-run hydrocarbon explorer ONGC has found reserves to the west of its Mumbai High offshore fields, with initial estimates suggesting the new discovery’s size to be about 20 million tonnes of oil equivalent (mtoe). The firm’s output has been stagnating over the last many years with annual oil production in the range of 25-26 million tonnes (mt) and natural gas output around 23 billion cubic metres (bcm). Though the zones at the well WO 24-3 are still under assessment, the new find is believed to be big enough to pep up the firm’s production in coming years.

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