Current Affairs India - 27 February 2014

1. India-s largest 130-MW Solar Power Plant -Welspun Solar MP Project- was launched by Chief Minister Shivraj Singh Chauhan and Narendra Modi at Bhagwanpur in Neemuch, Madhya Pradesh on 26 February 2014. It is also the Asia's Largest Solar Power Plant. It will supply power at 8.05 rupees a kWh and will raise Indian solar capacity by 7 percent.

2. Giving breather to banks on capital market exposure limit for restructuring, the Reserve Bank of India said if acquisition of equity shares by banks for restructuring companies- results in exceeding the extant regulatory Capital Market Exposure (CME) limit, the same will not be considered as a breach of regulatory limit. However, Banks will require reporting to it and disclosure in the Notes to Accounts in Annual Financial Statements.

According to the RBI, the general principle of restructuring should be that the shareholders bear the first loss rather than the debt holders.

3. India-s IT Services Company Tech Mahindra has acquired the software services unit of Germany chemicals giant BASF in order to expand business in Europe. As part of the deal, the Mahindra group company will also take on board the 60 employees of BASF Business Services Consult. The new company provides services such as consulting, development and operation of IT systems.

4. Credit information solutions provider, Equifax India, launched a software solution named as 'Bureau One' to collate various credit bureau responses and deliver them seamlessly. This solution will empower lenders and businesses to make better underwriting decisions in a cost effective and timely manner and also give customers the ability to improve its credit appraisal process more efficiently.

5. Sourav Kothari won the National Billiard Championships after defeating Alok Kumar, the defending champion, by 5-3 in the final match held in Lucknow yesterday. This is his first maiden title in the National billiards championship. B. Bhaskar defeated Dhruv Sitwala to win the third place in the National billiards championship.