EVENT: Cabinet approves SEB Debt Restructuring Proposal The Union Cabinet has given approval to a new scheme (Ujwal DISCOM Assurance Yojna or UDAY'), as announced by the Ministry of Power. Key features of this scheme is that States shall take over 75% of DISCOM debt as on 30 September 2015 over the next two years - 50% of DISCOM debt to be taken over in FY16 and 25% to be taken in FY17. As per Ministry of Power, it will reduce the interest cost on the debt taken over by the States to around 8-9%, from as high as 14-15% currently; thereby...