New Delhi

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 ...

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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 ...

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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 ...

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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 ...

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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 ...

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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 ...

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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 ...

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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 ...

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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 ...

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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 ...

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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 ...

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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 ...

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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 ...

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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, ...

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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 ...

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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 ...

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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 ...

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NGT refuses to quash EC granted to 1,320 MW Khurja Thermal Power Project in UP

“The public hearing was held as per norms and video graphed. In the first meeting, the Expert Appraisal Committee sought clarifications and did not accept the EIA report as it is. In the second meeting, the clarifications were duly evaluated,” the NGT said New Delhi: The National Green Tribunal Tuesday refused to quash the environmental clearance granted to 1,320 MW coal-based super ...

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CIL Capex utilization at Rs 5,023 cr in the first half of FY21

“Coal India’s (CIL) capital expenditure at Rs 5,023 crore ending first half of the ongoing fiscal capped an all-time high of 118 per cent utilisation against the provisioned target of Rs 4,247 crore,” the PSU said in a statement New Delhi: State-owned Coal India on Tuesday said its capital expenditure was at Rs 5,023 crore in the first six months of 2020-21 ...

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Scheme to incentivize solar equipment manufacturing on the anvil, bids soon for futuristic technology-based projects

New Delhi, Power, and New & Renewable Energy Minister R K Singh on Tuesday said that a scheme is on the anvil to provide interest subvention for the manufacturing of solar cells and wafers in the country. The minister also indicated that there would soon be an auction to set up clean energy projects with advanced or futuristic technology having ...

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IAF looking at leasing midair refuellers as efforts to purchase 6 go on, says Bhadauria

Addressing a press conference two days before IAF Day, Bhadauria said leasing has got nothing to do with budget constraints, is an evolution of defence acquisition processes.  Air Chief Marshal RKS Bhadauria addresses a press conference in New Delhi Monday | ANI New Delhi: The Indian Air Force (IAF) could acquire midair refuellers on lease under the government’s new leasing policy, ...

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Pension fund managers: ‘Floor’ and ‘cap’ concept to be introduced in RFP

PFRDA Chairman Supratim Bandyopadhyay Unlike last time, there will be no insistence on matching the lowest bid, says PFRDA chief The Pension Fund Regulatory & Development Authority (PFRDA) proposes to bring in a slew of changes in the upcoming Request for Proposal (RFP) for Pension Fund Managers (PFMs) including the introduction of the concept of ‘floor’ and ‘cap’ as a ...

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Bharat Petroleum likely to sell 7.3% treasury stock in a bulk deal

As of now, the last date to submit EoIs is September 30, and hence, RFP is expected to be ready by October 15. BPCL will transfer the remaining 2% to a trust The management of Bharat Petroleum Corporation (BPCL) on Monday said that 2 per cent of its treasury stock will be transferred to a separate trust, while the remaining 7.33 per ...

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Niti Aayog to hire consultants to prepare a development plan for Great Nicobar

New Delhi:  Government think-tank Niti Aayog is in process of hiring consultants to prepare a master plan for the holistic development of Great Nicobar Island through public-private partnership model. The Aayog in its Request for Proposal (RFP) said the technical consultant shall prepare a master plan, preliminary engineering design report, financial feasibility and project structuring report in accordance with the ...

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NTPC Shifts Objective; to Stop Land Acquisition for Thermal Projects

NTPC proposes to completely stop land acquisition for thermal projects and rather look for reducing its carbon footprint through a renewable energy push. India’s largest coal-fired power producer NTPC has announced that it proposes to completely stop land acquisition for greenfield thermal projects and rather look for reducing its carbon footprint through an aggressive renewable energy push. “We have taken ...

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NCRB wants its automated facial recognition system to detect mask-covered faces too

NCRB’s planned Automated Facial Recognition System is aimed at automatic identification and verification. It will be implemented at the national level. New Delhi: The National Crime Records Bureau (NCRB) now wants the facial recognition system it plans to adopt to detect faces even when covered by face masks. The agency has an active tender calling for bids from interested vendors to ...

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Rail Land Development Authority invites bid for Chennai land

New Delhi: The Rail Land Development Authority (RLDA) has invited a Request for Proposal (RFP) for leasing a land parcel at East Tambaram, Chennai. The 3719 square metre land parcel is located along Bharathamadha Street, near Tambaram Sanatorium Flyover. With the reserve price of Rs 8 crore, the land can be used for institutional purpose. “Being well-connected to the railway ...

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2.4 million customers joined Atal Pension Yojana in 2020: Supratim Bandyopadhyay, Chairman, PFRDA

New Delhi: About 2.4 million customers joined the Atal Pension Yojana (APY) in 2020, the Pensions Fund Regulatory and Development Authority (PFRDA) Chairman said on Friday at the CII Insurance and Pensions Summit. “Over 2.4 million new customers have joined the APY this year,” said Shri Supratim Bandyopadhyay, Chairman, PFRDA. Speaking at the summit, the PFRDA Chair listed out the ...

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PFRDA looking to change cost structure for fund managers

Currently, there are eight pension fund managers under NPS, including SBI Pension Funds, UTI Retirement Solutions and LIC Pension Funds. While PFRDA looks to float RFP to attract new fund managers, there will be some entry barriers so that only serious players apply. The Pension Fund Regulatory and Development Authority (PFRDA) will soon come out with a request for proposal ...

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RFP to onboard new Pension Fund Managers by Dec-end, says PFRDA chief

PFRDA Chairman Supratim Bandyopadhyay The Pension Fund Regulatory and Development Authority (PFRDA) will issue the Request for Proposal (RFP) to onboard new Pension Fund Managers (PFMs) by December-end, said the pension regulator’s Chairman Supratim Bandyopadhyay. The proposed RFP will come up with some entry barriers so that only “serious players” can enter, he said at the 22nd CII Insurance and ...

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