News digest: Working capital costs to rise, no RCom-Aircel deal, and more

From RCom's deal with Aircel called off to Skymet counters Met department, BS brings you up to date with latest news

Working capital costs set to rise due to GST issues

Contrary to earlier expectations, the goods and services tax (GST) will lead to higher working capital costs for companies as payments are getting blocked at various levels in the value chain and it is becoming difficult for manufacturers to get input tax credit. Read more

RCom's lifeline deal with Aircel called off

Reliance Communications (RCom) has called off its merger with Aircel, owned by Maxis of Malaysia, following legal and regulatory hurdles, putting a question mark on the company’s promise to its lenders to reduce its debt burden of Rs 45,733 crore by the end of December. Read more

Skymet counters IMD on monsoon accuracy

The state-run India Meteorological Department (IMD) and the country’s largest private weather forecaster, Skymet, have once again found themselves in the eye of the storm over the accuracy of monsoon predictions. The monsoon, after making a steady start in June and July, went for an extended break in August and early September, pulling down the total cumulative seasonal rainfall. Read more

Power transmission projects hit by delays, red tape

Over a year after a top panel approved awarding several power transmission projects through competitive bidding to private players, these are yet to see the light of day. Also, the total value of projects on offer has come down by more than 90 per cent in the past three years.   Since July 2016, when the Empowered Committee on Transmission previously met, no new project has been approved despite growth in power access network with various central schemes.  Read more

IIT placement: 'Start-up Day' after marquee firms take their pick

After revoking a year-long ban on 30 firms from participating in placements, Indian Institutes of Technology (IITs) will now have a ‘Start-up Day’ after marquee recruiters are through with their hiring. Preferring recruiters in information technology (IT), analytics, consulting, manufacturing, and e-commerce space, among others, in the initial days of the final placement, IITs, at least the older ones, are likely to give start-ups a fifth- or sixth-day slot. To be called ‘Start-up Day’, the slot will see most start-ups seeking participation in placements. Read more