The Reserve Bank of India (RBI) is contemplating a staggered implementation of the increase in provisioning for project financing to soften the blow on lenders and give them ample time to prepare for any impact on profitability. Projects nearing completion may also be given some leeway in provisions, people familiar with RBI’s plans said. Facing … Read more
Adani Group chairman Gautam Adani, 62, plans to step down at the age of 70 and shift control to his sons and their cousins in the early 2030s, he told Bloomberg News in an interview published on Monday. When Adani retires, his four heirs – sons Karan and Jeet, and their cousins Pranav and Sagar … Read more
To tap the potential of the country’s air cargo sector, the focus should be on further improving processes as well as ensuring faster turnaround time, a senior government official said on Thursday. “The government is working on developing logistics hubs,” he added. Piyush Srivastava, Senior Economic Advisor at the Ministry of Civil Aviation, said that … Read more
The deadly roof collapse at India’s busiest airport is the latest in a string of recent infrastructure disasters in the country, raising safety questions as Prime Minister Narendra Modi spends billions of dollars to improve transportation across the country. Officials at Delhi’s airport canceled operations at Terminal 1 after an outdoor metal canopy collapsed during … Read more
With Narendra Modi-led National Democratic Alliance voted to power for the third consecutive term, the Adani Group is well-positioned to continue the economic and social programs that have driven “spectacular” journey over the last decade, Gautam Adani said at Adani Enterprises’ Annual General Meeting on Monday. “India is no longer at the crossroads of destiny … Read more
Kalpataru Constructions Private Limited (KCPL) is the selling entity. The stake has been sold at around Rs 1,164/ share totalling Rs 1,053 cr KCPL prior to this stake sale held 13.76% in the company as at March 31, 2024 (out of the total promoter stake of 40.59%) The stake sale was executed to help cut … Read more
Starting July 1, all contractors executing infrastructure projects and other works to resolve civic issues in the city, will start online registration and renewal of registration. The online system is expected to improve monitoring and tracking of erring contractors who have done shoddy work in executing civic infrastructure projects, including roads, bridges, parks, schools and … Read more