Dabhol meet soon
New Delhi, Jan. 31: The government may hold negotiations with the promoters of Dabhol Power Corporation (DPC) — GE and Beechtel — next week for restarting generation at the power project. “GE has asked for a meeting next week. I have received a communication to this extent,” power secretary R. V. Shahi said here today. Shahi said the power ministry would fix the meeting and take the discussions forward, and added that Beechtel would also attend the meeting.
New Delhi, Jan. 31: The government today proposed a gradual phasing out of the tariff regime in the non-life sector, especially motor insurance, but regulator IRDA warned that insurers need to improve their skills as de-tariffing might lead to a surge in premia.
New Delhi, Jan. 31: The Centre’s fiscal deficit was restricted to Rs 86,269 crore till December, amounting to 63.7 per cent of the budget estimate for 2002-03, mainly due to improvement in tax collections. The deficit, which works out to 3.37 per cent of GDP, was relatively lower than previous year when it was 76.5 per cent of the target for 2001-02.
Mumbai, Jan. 31: The State Bank of India has slashed the interest rate on housing loans by 0.75 per cent across the board with effect from tomorrow. While removing the slab of up to five years, SBI would now charge an interest of 9 per cent and 9.25 per cent on floating and fixed basis respectively for loans up to 10 years, a top SBI official said here today.
Chennai, Jan. 31: The Madras High Court has reserved its orders on a petition filed by the Centre and the Tea Board seeking vacation of an interim stay on implementation of the Tea Marketing (Control) Order 2003 (TMCO). The stay had been granted on a petition preferred by the Coimbatore-based Tea Buyers Association (TBA).
Bids for Nepa
New Delhi, Jan. 31: The government today invited fresh bids for sale of 72 per cent stake in newsprint manufacturer Nepa to a strategic partner along with management control. Expressions of interest (EOI) are to be submitted by March 7.