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NTPC plans 100 Mw solar projects in Gujarat
Powering its way ahead in tapping renewable energy sources for power generation, public sector power utility NTPC (formerly National Thermal Power Corporation) has set the ball rolling for its two solar thermal units of 50 Mw each in Gujarat. The company has firmed up its plans to initially install a solar power generation capacity of 100 Mw in the state, which may go up to 300 Mw at a later stage.

Govt sops likely for drug exports avoiding Europe
The Centre may give sops to drug exporters for shipments to Africa and Latin America through a route that would avoid passing through Europe, while it prepares to drag the European Union (EU) to the World Trade Organization (WTO) over seizure of consignments of Indian pharma companies.

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GPL confident of converting minor port into deep water one
Hoping to bag environmental clearance by this month end, Gopalpur Ports Ltd (GPL) is confident of converting the minor port in south Orissa into an all weather deep water one within 24 months, two years ahead of the stipulated timeframe.
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Base rate to replace BPLR

The Reserve Bank of India (RBI) committee on reviewing the benchmark prime lending rate (BPLR) has recommended that the nomenclature be scrapped and a new benchmark rate — known as base rate — should replace it. - RBI not in favour of multiple BPLRs - RBI panel on BPLR to meet today - Canara Bank cuts home loan rates - Canara Bank cuts home loan rates - RBI frowns on sub-PLR loans, bankers resist - Banks may have two BPLRs The base rate would be linked to one-year term deposit rate and also factor in the negative carry of cash reserve ratio (CRR) and statutory liquidity ratio (SLR), a source involved with the discussions said. Banks have for long demanded that they should be paid interest on the funds set aside to meet CRR requirements. After factoring in costs incurred while sanctioning a loan, the proposed base rate could be as low as 6-7 per cent in the current interest rate scenario, sources privy to the committee’s discussions said. At present, bank BPLRs — which factor in the cost of funds, administrative costs and a margin over it — range between 11 per cent and 16 per cent. With the base rate being low, the expectation is that sub-BPLR lending, which accounted for three quarters of the overall bank loan flow, would come to an end. “However, there may be some sub-base lending due to excess liquidity in the system, but that may have to contained under some specified percentage,” a banker said. Sources indicated that the new system could be in place by early 2010. The committee, which is close to finalising its report, has also recommended that there should not be separate benchmark rates for retail and corporate sector. The move comes despite a section of bankers arguing for multiple base rates. The committee was set up to bring about transparency in fixing benchmark rates. “Once the guidelines come, there will be no BPLR. All banks will have to follow uniform guidelines for calculating the base rate. It will have to be publicised on their website,” a banking source said. The committee which was scheduled to submit its report today has received another extension and would now submit the recommendations by October 16, RBI said today. However, members of the committee told Business Standard that the panel headed by RBI Executive Director Deepak Mohanty had finalised its recommendations during a meeting held yesterday and only the drafting was left.


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