Author: NNI Editor
Chairman Challa Sreenivasulu Setty virtually inaugurating the new branches in Telangana on Friday, February 21, 2025. | Photo Credit: Special Arrangement State Bank of India (SBI) Chairman Challa Sreenivasulu Setty on Friday inaugurated 10 new branches in Telangana, taking the branch network of the country’s largest lender to 1,206 across the State. Five of the branches are in rural centres and the rest in urban centres. The new branches are Alampur x road; Chinnambavi; Raghavendra colony (Kondapur); Neopolis; Kistareddypet (Patancheru); Khajaguda; Osman Nagar; Kangti (Narayankhed); Suchitra Circle (Quthbullapur); and Nandipet. It is a strategic expansion and aimed at enhancing SBI’s presence…
A model of a Water Metro ferry on show at the exhibition held as part of the Invest Kerala Global Summit in Kochi on Friday. | Photo Credit: THULASI KAKKAT An exhibition at the Invest Kerala Global Summit (IKGS 2025) was opened on Friday (February 21), showcasing the State’s industrial growth, opportunities, and investment potential. Chief Minister Pinarayi Vijayan, who opened the expo, was accompanied on his visit to the pavilions by Union Minister for Commerce and Industry Piyush Goyal and other State ministers.Industrial sectors ranging from traditional industries to start-ups focused on future technologies are part of the show. The…
State-owned Bank of India (BOI) on Friday reported a fraud of ₹226.84 crore by Odisha-based Gupta Power Infrastructure Ltd to the Reserve Bank. The bank has informed that Non Performing Asset (NPA) of Gupta Power Infrastructure Ltd has been declared as fraud, BoI said in a regulatory filing. Against the outstanding amount of ₹226.84 crore, the bank has made provisions of ₹212.62 crore in case of Gupta Power Infrastructure Ltd, it said. For the third quarter ended December 2024, BoI posted a 35 per cent jump in net profit to ₹2,517 crore against ₹1,870 crore in the year-ago period. The…
CapitaLand India Trust (CLINT), a property trust that has interests in commercial real estate space, will invest ₹1,000 crore in a 1.13 million sq.ft office project at Nagawara, Outer Ring Road, in the city.CLINT has entered into a forward purchase agreement with Maia Estates Offices, an affiliate of Bengaluru-based luxury residential developer Maia Group (Maia), to acquire an office project at Nagawara, said the company.As part of the forward purchase arrangement, CLINT will fully fund the development of the office project and receive interest on the funding at a rate which is higher than its borrowing cost. Upon completion of the development and stabilisation, CLINT is…
To meet the durable liquidity needs of the system, the Reserve Bank of India has decided to inject Rupee liquidity for longer duration through long-term USD-INR Buy/Sell swap auction. | Photo Credit: FRANCIS MASCARENHAS To meet the durable liquidity needs of the system, the Reserve Bank of India (RBI) has decided to inject Rupee liquidity for longer duration through long-term USD-INR Buy/Sell swap auction.Accordingly, the RBI will conduct a USD-INR Buy/Sell swap auction of $10 billion for a tenor of three years.The auction time has been fixed from 10.30 am to 11.30 am on February 28, 2025. The spot date is March 4,…
India is the second largest AI talent in the world, but only less than 30% of these people have hands-on experience in AI, said Lalitha Indrakanti, CEO, Jaguar Land Rover Technology and Business Services in India. “India certainly has the second largest AI talent pool, but if you look at it in a broader sense, only less than 30% of them have hands-on experience. To reimagine our talent landscape, we have to make learning the core aspect of growth, explore and unleash the productivity of humans,” she told The Hindu.She said it is common knowledge that whatever skills and jobs that exist…
Adani Foundation has unveiled the ‘Butterfly Effect’ Framework for empowering women. Ahead of the upcoming International Women’s Day next month, the Foundation hosted the first national-level roundtable consultation recently in New Delhi to address the evolving needs of women through every stage of their lives. “The ‘Butterfly Effect framework embodies this holistic approach by positioning women at the center of all interventions. The framework has been designed to support women across different stages, promoting their growth, self-reliance, and overall well-being,” the foundation said in a statement.On the occasion, Abhishek Lakhtakia, Chief Executive Officer, Adani Foundation, said, “Our interventions are designed to ensure…
Supporting growth through monetary easing was the prime motivation of the six-member Monetary Policy Committee (MPC) behind their unanimous decision to vote for a rate cut, the minutes of the February 5-7, 2025 MPC meeting revealed.“Domestically, there is a need to preserve the high growth momentum, while maintaining price stability, necessitating monetary policy to use various policy instruments to maintain the inflation-growth balance,” RBI Governor and MPC member Sanjay Malhotra said in a statement.“The food inflation outlook is turning decisively positive. Moreover, the Budget proposals on agriculture and the commitment to fiscal consolidation, among others, are positive for price stability and would…
Textile Commissioner Roop Rashi visited a stall at the Global Textile Technology and Engineering Show in Mumbai on February 21, 2025 | Photo Credit: Special Arrangement Investments in the textile sector that were sluggish for the last couple of years have revived, said Textile Commissioner Roop Rashi here on Friday. Ms. Rashi told The Hindu on the sidelines of the inauguration of the three-day Global Textile Technology and Engineering Show (GTTES) here, several textile and apparel companies that had taken part in the recently-concluded Bharat Tex in New Delhi said they were making investments. Indian textile machinery manufacturers should leverage…
Surat-based Premier Looms will start local production of ‘air jet’ weaving looms in a year, said A.K. Bidiwala, who heads sales and marketing at the company. The company launched its high speed rapier (500 rpm) and high speed ‘water jet’ looms at the Global Textile Technology Engineering Show here. Mr. Bidiwala told The Hindu that the company currently imported ‘air-jet’ looms and assembled them in India. It will start local production in a year. Premier is looking to almost double its annual turnover to ₹300 crore in FY26 from the current ₹160 crore. It had invested ₹250 crore so far…