Tata Power, the country's largest private utility by sales, announced the acquisition of 30 per cent stake in two coal mining units and a related trading outfit of Indonesia's PT Bumi Resources for nearly Rs 4,740 crore ($1.1 billion).
UMPP is coal-based thermal power project that has 4,000 MW capacity.
The biggest lesson is in creating bankable projects with the government getting major clearances, leaving private firms to deliver on what they do best.
With the listing of Mundra Port and SEZ (MPSEZL) on the bourses, the worth of Adani Group chairman Gautam Adani and his brother is Rs 39,051 crore (Rs 390.51 billion).
As of December 2014, NPAs of PSU banks were at Rs 2,60,531 crore.
'RBI and the economy will gain tremendously from Urjit Patel's experience in both private and public sectors'
The country's two biggest state-run lenders on Saturday pitched for treating a portion of their gold deposits as part of the mandatory cash reserve ratio (CRR) or statutory liquidity ratio (SLR), both of which banks consider as non-productive.
Check out the red carpet.
Acquisition of stressed infrastructure assets has pushed its debt to over Rs 1 lakh crore, highlighting concerns about its growth strategy.
Colombo can handle more container traffic than all of India's ports put together. For a country with a long maritime tradition, this is a pathetic state of affairs, saya T N Ninan.
The crew is not traceable, sources said.
The petroleum ministry has invited bids from companies willing to share Hindustan Petroleum Corporation Ltd's proposed Rs 1,367 crore Mundra-Delhi product pipeline capacity.
As power generation across northern and western India bore the brunt of the coal scarcity, spot prices at IEX rose to Rs 10.8 a unit during August 25-27, compared with Rs 8.7 a unit on August 22.
Arun Jaitley had proposed to set up a Public Debt and Management Agency.
Analysts said with more power sector companies referred to the NCLT by banks, large companies would be at an advantage.
The Reserve Bank on Thursdaysaid it is keeping a close watch on global banking major HSBC.
In the next three years, Tata Power will invest anywhere between $150-200 million.
The committee's suggestion that existing commercial banks be allowed to hold payment banks as subsidiaries is also seen as unviable by RBI and the finance ministry.
Delivering the key mote address at the Citi's Investor Summit, Jaitley hoped that as a professional organisation the Reserve Bank will take 'the best decision'.
The projects coming up in Bihar, Jharkhand and Odisha will together add 16,000 MW capacity to country's power generation.
Adani Group is exploring legal options after being slapped with a Rs 5,500-crore tax notice, allegedly for overvaluing imported equipment, by the Mumbai wing of the Directorate of Revenue Intelligence.
Stocks of three listed firms of Gujarat-based Adani Group on Friday ended as much as 6 per cent higher on the clear mandate given by voters to the BJP-led NDA.
Teams of the National Disaster Response Force started landing in Gujarat with the help of the Indian Air Force to undertake preventive evacuation of people living on the west coast, an IAF official said.
Experts interviewed CMDs of nine public sector banks on Friday and Kamath is believed to be in the reckoning
In its letter, finance ministry has pointed to sections 35, 35A and 36 of the Banking Regulation Act, 1949, to highlight the powers and functions of the RBI as regulator
India is the largest importer of gold after China.
Cyrus Mistry had put in place a strategy that would have pulled most of the Tata group's 'legacy hotspots' out of the financial mess from legacy issues and helped turn around the group's finances.
A total of 20 such train sets of Hyundai Rotem will be manufactured in South Korea's Changwan.
Rajan retained the short-term lending rate at 6.5 and the cash reserve requirement of banks at 4 per cent.
With passenger growth pegged at 14 to 15 per cent, airport infrastructure could be a make or break business for both new players and incumbents.
The government has initiated a forensic audit at the state-run Oriental Bank of Commerce and Dena Bank after unearthing of a suspected scam, wherein the lenders allegedly misappropriated funds worth Rs 436 crore from their fixed deposit customers.
The 42-year-old Acharya's appointment for a three-year tenure was cleared by the Appointments Committee of the Cabinet.
The company had sold 50 units of SX4 sedan in August 2014.
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The rupee had earlier this month touched a life time low of 61.21 to a dollar.
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