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RBI moots new norms for pricing loans
The benchmark prime lending rate (BPLR) is set to give way to a new loan pricing regime. Called Base Rate by a committee of the Reserve Bank of India (RBI), it will represent the bare minimum rate below which it will not be viable for banks to lend.

Shinde asks power cos to start work on coal blocks in two yrs
Power Minister Sushil Kumar Shinde today threatened action against companies that do not start work on captive mines within two years of allotment.

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Oil prices fall to $71 in opening trade
Oil prices fell to near $71 a barrel today in Asia, giving up part of the previous day"s big gains, as the US dollar rebounded.
International Business

Welcome rains in Uttarakhand

Breaking a long dry spell, Uttarakhand and its nearby areas today received rainfall in the plains and snow in the higher reaches of the Himalayas. Experts said the rains, which came after a dry spell of two months, would auger well for the agriculture sector. Anand Sharma, director the metereological department, said light rains had occurred in areas like Tehri, Mukteshwar and Dehra Dun. “The trend may continue for one more day at least in the Kumaon region,” he said. - Himalayas inspired "2012" - Twenty20 cricket goes to Mt Everest - Snow and other stories - U"khand facing dry spell - Plywood industry sees robust growth - DMRC expects new lines to help swell revenue by 25% this year The government last month sounded an alarm by declaring 16 tehsils in three districts — Tehri, Almora and Dehra Dun — as dry. Power scenario had also taken a beating in the wake of the falling discharge in most of the rivers by 30 to 40 per cent. The current discharge in the Yamuna at Vikasnagar is 8 to10 cumax, which is 50 per cent less as compared to last year. Similarly, Bhagirathi at Joshiyara in Uttarkashi district has receded by 30-35 per cent. Owing to various factors including various affects of the prolonged dry spell last year, power generation took a plunge falling by 20 per cent as compared to last year. The power generation from Uttarakhand Jal Vidyut Nigam Limited, having an installed capacity of 1,304 Mw, after touching 18 to 20 million units during the monsoon is now hovering at around 6 to 8 million units, mainly due to the dry season.


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