News digest: Essar Steel bid, Modi's debut at AGM, and more

From upcoming debut of PM Modi at annual general meeting to RBI positioning in rupee-dollar forwards, BS brings you up to speed with latest news

Ruias want to pay up, bid for Essar Steel

The Essar Group is planning to pay its dues to lenders so that it can take part in the bidding process for its steel plant in Hazira, Gujarat. Tata Steel, ArcelorMittal and others are reportedly keen to acquire it.The group has sought clarification from lenders on the overdue interest so that it can pay it and submit its bid by December-end, said a lender. Read more

RBI builds $31-bn forwards position as dollar tide rises

The Reserve Bank of India (RBI) has built up a $31-billion position in