GMR Group’s debt-laden 768 MW gas-based Rajahmundry power plant in Andhra Pradesh has achieved a resolution plan with the IDBI Bank-led consortium of lenders for payment of `2,353 crore debt.

Lenders holding majority 55% stake in Rajahmundry Energy, a subsidiary of GMR Infrastructure, have agreed to a payment plan where `1,130 crore will be paid at 9% rate of interest over the next 20 years, while `941 crore has been converted into cumulative reedemable preference shares at 0.1% repayable from 17th to 20th year.

Vodafone Idea has signed a multi-million dollar five-year deal with IBM for cloud-based digital platform that will allow the telco to deliver an enhanced customer experience to its over 387 million users.

Both Vodafone and Idea Cellular had been partners of IBM prior to their merger and now the deal has been renewed for five years with the merged entity.

The Wall Street Journal reports that Facebook plans a cryptocurrency-based payment system that it could launch for billions of users worldwide.

The system would use a digital coin similar to bitcoin, but different in that Facebook would aim to keep the coin's value stable.

The Reserve Bank of India (RBI) Friday said no gold was shifted outside the country in 2014 or thereafter.

The statement comes against the backdrop of reports in certain sections of the print and social media regarding the central bank shifting abroad a part of its gold holding in 2014.

Instant messaging app WhatsApp Friday told the Supreme Court that it is conducting a trial run of its payment service and will comply with RBI norms on data localisation before launching the full service.The trial run is likely to be completed by July end this year, it said.

Pakistan continues to sponsor terror outfits that launched deadly attacks in India because Islamabad has "paid no price for its perfidy", a prominent think-tank expert has told American lawmakers.

“Pakistan continues to sponsor terrorist groups that launched deadly attacks in India.

China has expressed interest in joining a nuclear deal between US and Russia, President Donald Trump said Friday.

We're talking about a nuclear agreement where we make less and they make less," Trump told reporters after his telephonic conversation with the Russian President Vladimir Putin.

Indian Oil Corp (IOC), the country’s biggest fuel retailer, Friday said it has made arrangements to ensure uninterrupted supply of petrol, diesel, LPG and jet fuel in Odisha and West Bengal that faced a category-4 cyclone.

“In the wake of the cyclone Fani making landfall in Odisha earlier today (Friday), IOC is fully geared up and ensuring uninterrupted fuel supply from its locations in Odisha and West Bengal on the east coast,” the company said in a statement.

GMR Infrastructure Limited (GIL) announced execution of resolution plan for its stressed GMR Rajahmundry Energy Limited (GREL) – 768 MW gas-fired power plant in Andhra Pradesh. The company informed the exchanges on Friday morning that it has paid a portion of the sustainable debt of the project.

Bharat Heavy Electricals Limited (BHEL) has successfully commissioned the first two pumping units (116 MW each) of the 7x116 MW Kaleshwaram Lift Irrigation Scheme (LIS) Package-6 in Telangana. Significantly, the pump for each unit is designed to lift 89.16 cumecs (cubic metres per second) of water by 105.5 metres.

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