Business
Discoms to save Rs 3,000 crore annually from GST cut on green energy – The Times of India
NEW DELHI: Reduction of GST (goods and services tax) from 12% to 5% across the renewable energy value chain is expected to bring down the power procurement costs of discoms (distribution utilities) across the country by roughly Rs 3,000 crore annually, the government said on Wednesday.The savings may not lead to reduction in consumer tariffs as they do not fully reflect costs due to inadequate upward revisions. Rating agency ICRA on Tuesday said as per the tariff revisions for 2025-26 cleared by 23 out of 28 states till August put the median hike at the all-India level at 1.9% against 2.1% in 2024-25.Still, the lower GST will contribute towards narrowing the gap between discoms’ cost of supply and revenue realisation, which ICRA pegged at 45 paise per unit. While factors such as line losses and billing inefficiencies also contribute to the gap, reduced power purchase costs will bring some relief for discoms, which ICRA said, have a gross debt burden of Rs. 7.4 lakh crore as of March 2024, up from Rs. 6.6 lakh crore a year earlier.Beyond the immediate, the real benefit of lower GST will become more noticeable as levelised tariffs for green power become more competitive as project costs come down. The renewable energy ministry reckons the cost of a grid-level solar project, which typically hovers around Rs 4 crore per MW, will come down by Rs 25 lakh. At the scale of a 500 MW solar park, this translates into project cost reductions of over Rs 100 crore.Lower GST will energise prime minister Narendra Modi’s rooftop solar scheme by bringing costs within reach of more households, especially among those with modest or lower incomes. A typical 3,000-watt rooftop solar system is expected to become cheaper by Rs 9,000–10,500, the ministry said. Farmers will also benefit by way of lower costs for solar pumps covered under the PM KUSUM scheme, as will off-grid projects in rural or remote areas.The biggest benefit will be for the renewable energy manufacturing sector as reduced GST will make them competitive due to a drop of 3-4% in component costs. This is expected to boost rapid expansion in domestic manufacturing, leading to more job creation.
Business
How To Claim Investments Of Deceased Holders: A Step-By-Step Guide For Mutual Funds & Bank Accounts
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Claiming mutual fund and bank account investments after a sudden death requires key documents and a step-by-step process for heirs. Learn how to proceed.
News18
A sudden death without nomination or a proper will may become a nightmare for the spouse or children of the deceased, posing a hindrance in acquiring investments in mutual fund and bank accounts. The transfer of investments and money is possible, though there are some processes that need to be completed before.
According to an estimate, around Rs 25,000 crore worth of shares and about nearly Rs 80,000 crore of bank deposits are lying unclaimed in the country. These assets often remain unclaimed due to inadequate documentation or heirs being unaware of their existence.
Let’s have a look at these step-by-step guide to claim the investments in MFs and deposits in bank accounts of the deceased ones:
Claiming Mutual Fund (MF) investments — step by step
1) Identify the folio(s) / AMC / registrar
Check statements, broker app, emails or CAMS/KARVY/CDSL records for the folio number and AMC (fund house).
2) Contact the AMC / Registrar (CAMS/KFinTech/etc.)
Inform them of the investor’s death. Ask for the Transmission / Death claim process and request the Transmission Request Form (often called Form T3 or a death-claim form). Many AMCs publish the list of required docs on their site.
3) Fill the transmission / claim form
Form will ask claimant details (nominee or legal heir), folio, bank details where proceeds should be credited, KYC details of claimant.
4) Gather required documents (usually)
- Death certificate (original or self-attested + attestation as required).
- Transmission request / claim form (signed).
- Proof of identity & address of claimant(s) (PAN, Aadhaar, passport, etc.). PAN is commonly required for the claimant.
- If nominee is minor — guardian proof / birth certificate.
- If no nominee: legal heir certificate / succession certificate / probate / will / family tree / affidavit (as per AMC).
- Cancelled cheque or bank proof for claimant’s bank account for payouts.
5) Submit to AMC / Registrar
Submit originals where required (often for death cert) and self-attested copies for others; follow AMC/registrar’s instructions (some accept scanned copies online, some need physical submission).
6) Processing & payout / transfer
Registrar/AMC verifies documents, updates folio (transmission to nominee/legal heir) and either: (a) transfers units to nominee/legal heir folio, or (b) redeems units and pays proceeds to bank account — based on request and folio type.
Times vary; check with the specific AMC/registrar for expected timeline.
7) If there’s disagreement among heirs
AMCs may require a court order or succession certificate for large or disputed claims.
Claiming bank accounts / fixed deposits — step by step
1) Contact the bank branch (home branch)
Inform them about the account holder’s death. Ask for the bank’s deceased claim or transmission procedure and the claim form they require (banks have standard forms). Some banks allow online initiation for certain cases.
2) Documents usually required
- Death certificate (original for verification).
- Account details (passbook, account number).
- KYC of claimant(s) — PAN, Aadhaar, passport, photos.
- Claim/form signed by claimant(s).
- Cancelled cheque / bank account proof where proceeds should be credited.
If no nominee or amount above specified limits, the bank may ask for: legal heir certificate, succession certificate, or probate as per the bank’s policy and amount thresholds. Many banks have simplified limits (small amounts may be settled on affidavit + ID proofs).
For joint accounts
If survivorship clause applies, surviving joint holder(s) can claim by presenting their ID + death cert. If account was “former or survivor”, the survivor can continue.
For fixed deposits
If nominee exists — nominee must present claim form + death cert + KYC to get FD proceeds. If no nominee — legal heirs/succession certificate route as per bank’s slabs (banks often have different documentation for small vs large sums).
Processing
Bank verifies documents, settles the balance or re-issues FD in heirs’ names per bank rules. Timelines & requirements vary across banks and by amount.
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
November 04, 2025, 06:30 IST
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Stemaide’s goal is to bring science and technology skills to all young Africans.
Started in 2022 in Ghana, it has developed a science kit that will work in areas without the internet.
Prince Boateng Asare, CEO of Stemaide, says the firm wants to prepare young Africans for the jobs of the future.
This is the second in a six-part series on technology in Africa.
DHAKA: Bangladesh will not hesitate to cancel a 2017 power contract with India’s Adani group if any irregularities or corruption are proven, said the Muhammad Yunus-led interim government, referring to an interim report that claimed “massive governance failure” and “massive corruption” across the energy sector.The report was submitted by the national review committee, established to review power sector contracts signed during the Sheikh Hasina governmet. Its chief, retired HC judge Moinul Islam Chowdhury, said Sunday “we found massive corruption, collusion, fraud, irregularities and illegalities”.While contracts affirm no corruption has taken place, cancellation remains possible if evidence proves otherwise, said power, energy and mineral resources adviser Muhammad Fouzul Kabir Khan at a press conference Sunday, following a meeting with the panel. “Verbal assurances won’t be accepted by courts; there must be proper justification,” he added.The 25-year deal between Adani Power and Bangladesh Power Development Board – which obliges Bangladesh to buy 100% of electricity generated by Adani’s 1,600 MW coal-fired power plant in Jharkhand – had come in for scrutiny after Hasina govt’s ouster. The plant was built to supply power exclusively to Bangladesh via a cross-border transmission line.Committee member Mushtaq Husain Khan said because it is a sovereign contract, it can’t be terminated arbitrarily. Cancelling such agreements could expose Bangladesh to substantial financial penalties from international arbitration courts, he said.
How To Claim Investments Of Deceased Holders: A Step-By-Step Guide For Mutual Funds & Bank Accounts
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