DIPAM Rejects PFC-REC Proposal for KSK Mahanadi Project
The KSK Mahanadi thermal power project’s fight for financial recovery faces a fresh hurdle after the Department of Investment and Public Asset Management (DIPAM) rejected the debt resolution proposal submitted by Power Finance Corporation (PFC) and REC Limited. This decision throws a curveball at the already stressed asset, casting uncertainty on its immediate future. Stalled […]
SBI, ICICI as Third-party Liaisons for European Banks
A significant shift is brewing in the Indian banking sector as State Bank of India (SBI) and ICICI Bank are being evaluated as potential third-party liaisons for European banks. This development arises from an unresolved issue surrounding the Clearing Corporation of India Limited (CCIL). European Banks Grapple with CCIL Deadline European banks currently rely on […]
HDFC Breaks Ground: First Private Bank in Lakshadweep
HDFC Bank has etched its name in the annals of financial inclusion by opening its maiden branch in Lakshadweep, a remote island territory of India. This groundbreaking move marks HDFC as the frontrunner among private banks to establish a physical presence in Lakshadweep, signalling the bank’s commitment to serving every corner of the country. Empowering […]
Road Ministry’s Ambitious Plan: 50,000km New Expressways
The Ministry of Road Transport and Highways (MoRTH) is revamping India’s transportation landscape with a groundbreaking plan to build 50,000 km of new expressways. This ambitious project, expected to be unveiled in the first 100 days of the new government, signifies a significant shift from the previous Bharatmala Pariyojana program, which focused on developing a […]
EU-India Team Up: Advancing EV Battery Recycling
Europe and India are electrifying the future of electric vehicle battery recycling through a groundbreaking collaboration focused on empowering startups in the cleantech sector. This forward-thinking initiative is a direct result of the India-EU Trade and Technology Council (TTC), established in April 2022 to champion cooperation in green technologies. Matchmaking for a Sustainable Future: A […]
SINE, IIT Bombay, Canara Bank Enhance Startup Funding
In a move heralded as a significant boost for India’s burgeoning startup scene, the Society for Innovation & Entrepreneurship (SINE) of the Indian Institute of Technology Bombay (IIT Bombay) announced a collaborative effort with Canara Bank. This partnership, formalized through a Memorandum of Understanding (MoU) signed on April 3rd, 2024, aims to streamline financial assistance […]
Hyundai, Kia Partner with Exide Energy for EV Batteries
South Korean auto giants Hyundai Motor Company and Kia Corporation are accelerating their electric vehicle (EV) ambitions in India. They recently signed a Memorandum of Understanding (MoU) with Exide Energy Solutions Ltd, a leading Indian battery manufacturer, to localize the production of Lithium-iron-phosphate (LFP) batteries specifically for their Indian EVs. This strategic move aligns perfectly […]
Adani Group Purchases 25 Acres from Finolex for Pune Data Hub
The Adani Group, a titan of Indian industry, has made a decisive move to solidify its presence in the burgeoning data center market. Through its subsidiary Terravista Developers, the Adani Group has acquired the leasehold rights to a substantial 25-acre land parcel in Pune’s Haveli locality. This strategic land acquisition, valued at approximately Rs 471 […]
Tata Electronics to Acquire Major Stake in iPhone Maker
Tata Electronics, the Indian arm of the Tata Group conglomerate, is reportedly in advanced talks to acquire a controlling stake in Pegatron, a major supplier of iPhones for Apple. This deal, if finalized, would mark a significant expansion for Tata Electronics within the Indian smartphone manufacturing industry and position it as a strategic player within […]
Finolex Unveils Eco-Friendly, Fire-Resistant Wires
Electrical fires pose a significant threat, often stemming from faulty wiring. In a commendable effort to tackle this issue while fostering environmental responsibility, Finolex Cables has introduced a groundbreaking product line – FinoGreen. This innovative range of wires prioritizes both fire safety and sustainability, making it a welcome addition to the electrical industry. FinoGreen: A […]