New Delhi

Power sector regulator to embrace AI, machine learning to boost functioning

The CERC will be the first such quasi-judicial regulatory body to embrace AI and machine learning (ML) The CERC floated a request for proposal (RFP) in December 2020 to select a consultant working in the domain of AI. The apex power sector regulator, the Central Electricity Regulatory Commission (CERC), is planning to set up an artificial intelligence (AI)-based regulatory expert system tool ...

Read More »

PFRDA raises cap on fund management charges as it floats RFPs

There would now be four slabs, each attracting charges based on the quantum of assets under management The pension regulator has also raised the minimum capital requirement to Rs 50 crore from earlier Rs 25 crore. The Pension Fund Regulatory and Development Authority (PFRDA) has raised the ceiling on fund management charges to reel in more companies in the sector ...

Read More »

Ministry Invites Proposals for Making UMANG Chatbot “ONE bot” and Conversational AI Platform for e-Governance Services

National e-Governance Division (NeGD) of Ministry of Electronics and Information Technology, Government of India, has invited proposal for appointment of partner agency for developing Conversational AI Platform for delivery of UMANG/Government services.“The Partner Agency (Bidder) shall design, develop, and deploy the complete Conversational AI Platform as per SoW in this RFP and as suggested by NeGD/MeitY. The Partner Agency through this ...

Read More »

Minimum Assured Returns scheme in the works, says PFRDA chairman

Separately, under the NPS, the pension regulator is planning a new system for a systematic withdrawal plan or pay-out. This would allow subscribers to choose between annuity plans or SWPs. The pension regulator is planning a Minimum Assured Returns Scheme for customers with a lower appetite for risk. In an interaction with Moneycontrol, Supratim Bandyopadhyay, Chairman, Pension Fund Regulatory and Development ...

Read More »

Govt to divest 26% stake in BEML; EoI submission open till March 1

The sale could fetch the government Rs 1,055 crore, according to the company’s share closing price on Friday TopicsBEML | Divestment | PSU sales The disinvestment will be through a two-stage open competitive bidding process. | Photo: bemlindia.in The Centre on Sunday invited bids for strategic divestment in BEML, four years after the Cabinet approved divestment in the company. The government will sell 26 per cent out of ...

Read More »

S.Korea’s 5G users near 11 million in Nov: Report

South Korea racked up nearly 11 million users on fifth-generation (5G) wireless networks as of end-November, data showed on Thursday. Seoul: New Delhi South Korea racked up nearly 11 million users on fifth-generation (5G) wireless networks as of end-November, data showed on Thursday. According to a data compiled by the Ministry of Science and ICT, the country had 10.9 million 5G users last month, accounting ...

Read More »

Realme to start 2021 with 5G-enabled X7 series

India’s youngest and fourth largest smartphone brand Realme shared its “TechLife” and “5G Leader” vision for 2021 as it aims to diversify its product ecosystem and launch 5G smartphones across price points. New Delhi: India’s youngest and fourth largest smartphone brand Realme shared its “TechLife” and “5G Leader” vision for 2021 as it aims to diversify its product ecosystem and launch 5G smartphones ...

Read More »

Phase-II of Air India disinvestment to start Jan 5

New Delhi: The second phase of the strategic disinvestment of Air India will start on January 5, 2021 with the announcement of the names of the qualified bidders. The process has been divided into two stages. In stage I, expressions of interest (EoI) have been submitted by interested bidders and they will be shortlisted based on eligibility criteria and other terms ...

Read More »

Kejriwal directs officials to distribute health cards

Delhi Chief Minister Arvind Kejriwal on Wednesday reviewed the ambitious Health Information Management System (HIMS) project and directed the officials to ensure that the distribution of the health cards is started at the earliest so that the citizens can take benefits of the healthcare delivery process.  “The HIMS will be implemented by August 2021 in all the Delhi Government hospitals. ...

Read More »

More pension fund managers, higher fees on the anvil for NPS subscribers

Pension fund regulator PFRDA floats request for proposals (RFP) for new pension fund managers. Soon, your National Pension System (NPS) investments will attract higher fund management fees, up from one basis point currently.   The Pension Fund Regulatory and Development Authority (PFRDA) has proposed four charge slabs linked to assets under management (AUM). This is part of its request for proposal ...

Read More »

PFRDA issues RFP for selection of pension fund sponsors

A slab wise fee structure has been specified for managing pension monies An opportunity to manage over ₹5 lakh crore pension monies will soon be up for grabs as the pension regulator PFRDA has issued the much awaited Request for Proposal (RFP) document for selection of sponsors of pension funds for National Pension System (NPS) of government as well as private ...

Read More »

NTPC Seeks Consultant for Technical Due Diligence of Operational Solar Assets

The last date to submit the bids is December 22, 2020 NTPC Limited has invited bids for a consultant’s appointment for technical due-diligence of operational solar assets of target companies received through a global request for proposal (RFP) process. The last date to submit the bids is December 22, 2020, and the opening of bids will also take place on December ...

Read More »

Govt takes another shot at Pawan Hans privatization

The terms of the proposed privatisation remain largely unchanged from the previous attempt. The government of India and ONGC Ltd will sell their entire stake in the unlisted company. ONGC holds a 49 per cent stake in Pawan Hans, with the rest being held by the centre. Pawan Hans helicopter carrying police patrols over violence-hit area of Lalgarh The Finance ...

Read More »

NTPC looks to buy 1 GW wind projects

The wind project buyout plans come at time of an ongoing process by India’ largest power generation utility for acquiring at least 1 GW of operational solar power projects New Delhi: As part of its pivot towards green energy, state-run NTPC Ltd plans to acquire at least 1000 megawatt of operational wind power projects to add to its green energy ...

Read More »

Tender for more stealth submarines soon

New Delhi, November 25 The Ministry of Defence is all set to issue a formal tender for making six new generation stealth submarines under a $7 billion project that will entail an Indian manufacturer’s tie-up with a foreign partner for making these under-sea vessels. The formal tender states the request for proposal (RFP) is expected any time now. Known as ...

Read More »

DIPAM proposes to appoint consultant for disinvestment in banks, insurance companies

Floats Request for Proposal The Department of Investment and Public Asset Management (DIPAM), under the Finance Ministry, has floated a Request for Proposal (RFP) to appoint a consultant for advising on various modes of disinvestment of banks and insurance companies. On October 30, in an interview to BusinessLine, Finance Minister Nirmala Sitharaman had said, “I would, probably in the later part ...

Read More »

ReNew Power, Greenko among others keen to buy out Chandigarh discom

Some discoms were unable to avail the ₹1.25 tn reform-linked loan package for clearing dues. While ReNew Power generates 5.4 GW through solar and wind assets and has another 4.6 GW under various stages of development; Greenko has a 6.5 GW operational clean energy portfolio NEW DELHI : Two of India’s largest green energy firms—ReNew Power Ventures Pvt Ltd and Greenko Energy Holdings—are among ...

Read More »

DIPAM looks to appoint consultant for govt share sale in banks, insurance cos

New Delhi, The Department of Investment and Public Asset Management (DIPAM) is scouting for a consultant to assist it in the minority and strategic stake sales in banks and insurance companies. The consultant will be appointed for one year, which could be extended by 2 more years, and would be required to formulate proposals regarding issues to be taken up ...

Read More »

Govt receives multiple bids for BPCL, request for proposal to be issued soon

Finance Minister Nirmala Sitharaman tweeted on Monday that the divestment process of BPCL will not move on to the second stage. Bharat Petroleum Corp Ltd NEW DELHI:  Union government officials on Monday said that the Centre had received multiple bids from interested parties for its planned strategic stake sale in Bharat Petroleum Corporation Ltd (BPCL). Monday was the last day ...

Read More »

PFRDA Expects Process For NPS Trust Separation To Start Next Fiscal

New Delhi, The Pension Fund Regulatory and Development Authority (PFRDA) expects to begin the process for separating NPS Trust from itself in the next financial year as roping in a consultant for the process takes time, the regulator’s Chairman Supratim Bandyopadhyay said on Thursday. In the Union Budget for 2019-20, the government had proposed to separate the NPS Trust from ...

Read More »

After Rafale Jets, India Quietly Working With France To Acquire Stealth Submarines In A Multi-Billion Dollar Deal

The bilateral ties between India and France have seen a major boost in recent years. Following the landmark Rafale deal, New Delhi is now set to acquire new submarines from the French shipbuilder Naval Group. Citing a source, a Nikkei Asia report said that the French shipbuilder will make an offer in line with the ‘Make in India’ initiative for a proposal ...

Read More »

NEC Corporation India bags Saharanpur smart city project

New Delhi, NEC Corporation India on Thursday said it has been selected as the master system integrator for implementation of integrated command and control center, and smart components for Saharanpur smart city. NEC India, a wholly-owned subsidiary of NEC Corporation, said it was selected by Saharanpur Smart City Ltd (SSCL) for the project. The project is expected to be completed ...

Read More »

Navy to commission INS Kavaratti, an indigenously-built warfare stealth corvette tomorrow

Like its predecessors, the new corvette does not have air defence systems than the close-in weapons deployed onboard and the Navy is looking at getting a new Short Range Air Defence System. Indian Navy New Delhi: The last of four indigenously-built Anti-Submarine Warfare (ASW) stealth corvettes (warships), INS Kavaratti, will be commissioned into the Indian Navy in combat-ready status Thursday. The ...

Read More »

Adani Group, Piramal among 4 bidders for DHFL, lenders stare at over ₹60,000 cr write-off

Sources say the US-based Oaktree and Hong Kong-based SC Lowy submitted bids for DHFL on 17 Oct, the last date to submit final bids New Delhi: Adani Group and Piramal Enterprises are among the four entities that have placed bids for DHFL, the first financial services player undergoing insolvency process, according to sources. Besides, sources said, the US-based Oaktree and Hong Kong-based ...

Read More »

India prepares to confront China, foot soldiers to be equipped with modern weapons

New DelhiAmid increasing tension this year between India and China over the LAC of Ladakh, the Indian Army started procuring arms to strengthen itself. In fact, in the last decade, the Army is now moving strongly with its long roadmap for new assault rifles, short-quarter battle carbines and light machine guns. For a strong army of more than 1.2 million ...

Read More »

Prasar Bharati Cuts Ties With PTI, Says it Will Invite Bids from ‘Domestic News Agencies’

The move, which comes in the wake of official resentment over the news agency’s independent coverage, will hurt PTI financially but not be a body blow. The Press Trust of India building on Parliament Street, New Delhi. New Delhi: After voicing its unhappiness over the Press Trust of India’s independent coverage for some time now, the government-owned broadcaster Prasar Bharati has ...

Read More »

Work begins on the Srinagar-Leh Zojila tunnel 15 years after the project was first conceived

Highways minister Nitin Gadkari initiated virtual ‘ceremonial blast’ of the tunnel Thursday. Once complete, it will provide year-round connectivity between Srinagar and Leh. Representational image. A file photo of the Zojila pass in Jammu and Kashmir. New Delhi: Fifteen years after it was first conceived, work on the strategically crucial 14.5-km Zojila tunnel, connecting Srinagar to Leh with an all-weather road, ...

Read More »

MTNL may redial bond mkt by Oct-end as debt sale today falls short

NEW DELHI/MUMBAI – After its first bond sale in six years failed to garner the desired amount of funds, state-owned telecom major Mahanagar Telephone Nigam Ltd is likely to try its luck again by the end of the month, according to sources privy to the matter. MTNL had invited bids for 10-year government-guaranteed bonds worth 65 bln rupees today, but was able to raise only 43.16 bln rupees at a semi-annual coupon of 7.05%. It ...

Read More »

Govt guarantee fails to lure investors to MTNL bonds

NEW DELHI – Mahanagar Telephone Nigam Ltd returned to tap the bond market after a six-year gap, but the state-owned telecommunications company did not receive the warm welcome it would have hoped for. MTNL had invited bids for 10-year government-guaranteed bonds worth 65 bln rupees today, but ended up raising only 43.16 bln rupees. It is not that there was a dearth of bids, but the return that ...

Read More »

Govt may invite initial bids for Shipping Corp strategic sale in Nov

–Govt source: Hope to complete Shipping Corp divest in FY21 –Source: To conclude virtual roadshows for Shipping Corp divest Oct  By Sagar Sen and Tushar Chakrabarty NEW DELHI – The government is likely to invite initial bids for strategic divestment in Shipping Corp of India Ltd in November after concluding virtual roadshows this month, a senior finance ministry official said. “We intend ...

Read More »