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1.NTPC to scale down target, faces coal shortage

NTPC is likely to scale down its target for adding power generation capacity from 75,000 MW by 2017 to 70,000 MW as it faces coal supply shortages and environmental hurdles.The corporation, which currently generates over 34,000 MW, had set a target for scaling up this capacity to further augment it to 128,000 MW by 2032.


2.ESL to tie up Rs 23 bn loan for steel project

For the purpose of long-term project funding, Electrosteel Steels (ESL) plans to raise Rs 2,300 crore through a debt syndication with a consortium of bankers led by State Bank of India (SBI) for its Bokaro steel project. The arm of Electrosteel Castings is in the process of implementing a 2.51 million tonne per annum (mn tpa) integ


3.SBI refers Soma Enterprises to CDR cell

State Bank of India, which is a lender to infrastructure developer Soma Enterprises, has reportedly referred the firm to the corporate debt restructuring (CDR) cell owing to its difficulty in repaying bank credit. The firm, which sits on around Rs 5,000 crore debt, is reportedly facing liquidity stress owing to delays in payments for contract work


4.Sobha to buy Capt Gopinath's prime land in Blore

Captain Gopinath, a pioneer in the aviation industry and who made air travel affordable to the common man in India, is understood to have decided to sell out his prime land property in Bangalore's off Vittal Mallya Raod to remit Rs 259 crore debt to State Bank of India. Media reports said that he took the decision in a desperate bid to prevent a possible auction of the land property.


5.Woman on top

Union Finance Minister P Chidambaram may or may not have been playing to the women's gallery ahead of the Parliamentary elections next year, but very few will dispute that he's got the next candidate for the chairmanship of State Bank of India, the country's biggest bank, perfectly right.


6.No SBI loans to road projects with land issues

Proposed road projects that have not finished the acquisition of the required land for the purpose will not get loans from State Bank of India (SBI). The decision has been taken by SBI on the requisition of Central Bureau of Investigation and Chief Vigilance Commission. SBI is India’s biggest moneylender.


7.Arundhati Bhattacharya - Women of the year 2013

Arundhati Bhattacharya, Chairperson, State Bank of India Acumen plus experience adds up to success. It is this simple calculation that led to Arundhati Bhattacharya´s appointment as chairperson of the State Bank of India. Armed with her expertise, employee-friendly approach and transformative communication skills, the 57-year-old career banker will lead the 207-year-old bank into a new era.


8.Newsmakers | Piyush Goyal

Piyush Goyal Minister of State, Power (independent charge), Coal (independent charge), New and Renewable Energy (independent charge), has been entrusted with the responsibility to resolve fuel bottlenecks and chronic blackouts that hamper the country´s economic growth.


9.Fresh bids for Abhijeet power plant

State Bank of India ( SBI) has rejected SREI Infrastructure's bid to buy a power plant built by the Abhijeet Group of companies. The bank believes the terms of offer by SREI are loaded in favour of the bidder and that the assets are worth more than what is being offered.


10.Appointments

l Rajnish Kumar has been appointed as the Managing Director & CEO of SBI Capital Markets Ltd (the Merchant Banking arm of State Bank of India). He has replaced VG Kannan.