China is developing world's smallest N-reactor

Hong Kong-based South China Morning Post on October 12, 2016 reported that China is developing the world's smallest nuclear' power plant which could be installed in one of the islands in the disputed South China Sea to supply powpr to households and is capable of running for up to detades without refuelling.

Modelled an the compact lead-cooled thermal reactor used by the navy of the former Soviet Union in its nuclear submarines in the 1970s, Chinese researchers are carrying out intensive work to develop "portable nuclear battery pack" within five years

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HCC became First Company to get S4A Approval

The RBI mandated overseeing committee has approved the Scheme for Sustainable Structuring of Stressed Assets (S4A) for Hindustan Construction Company (HCC) Limited. In this regard, HCC said on November 6, 2016 that the ICICI-led Joint Lenders' Forum had proposed the scheme for it. With this, HCC became the first company to secure approval from the committee under the RBI's S4A scheme.
The total funded debt of HCC is about 5107 crore which has been considered under the scheme. It will be divided into two parts. The first part (sustainable debt) amounts to Z 2681 crone (52.50% of the total debt). The second part (unsustainable debt) totals 2426 crore (47.50%). The lenders will subscribe to 24.44% fresh equity (? 1008 crore, assuming a 40 rate), which will bring down the promoter holding from 36.07% to 27.44%.
The share price will be determined as per SEBI guidelines and, accordingly, debt will go down to the extent of the conversion amount. The balance of the unsustainable debt will be converted into Optionally Convertible Debentures for 10 years, with a coupon rate of 0.01%.

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Special Task Force led by Mundra to Recalibrate ATMs

• A Special Task Force has been formed by the Reserve Bank of India (RBI) to speed-up the process of recalibration of Automated Teller Machines (ATM) on November 16, 2016 to dispense the new denomination notes.
• The Task Force headed by SS Mundra, Deputy Governor, the RBI will work to speed-up work on ATMs to dispense higher denomination notes.
• The 8-membered team will also consist of representatives from the Union Finance and Home Ministries, the RBI, State Bank of India, ICICI Bank, HDFC Bank, Axis Bank and National Payments Corporation of India (NPCI). Besides, representative from each of ATM Original Equipment Manufacturers (OEMs), Cash in Transit (CIT) companies and White Label ATM (WrA) operators will be invited to the Task Force's deliberation.

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