News on Indian Economy
Some large Indian fintech deals during the period include payments firm RazorPay, which raised $75 million in June led by Sequoia and Ribbit Capital, and digital insurance startup Acko, which raised $65 million from investors such as Flipkart co-founder Binny Bansal, SAIF Partners and others.
After a successful round of airport privatisation earlier this year, the AAI has set the ball rolling to offload more aerodromes from its kitty in the coming months.
The underwater tunnel is being constructed at an expense of Rs 60 crore while the total cost of the East-West Metro project is evaluated to be around Rs 9,000 crore. The tunnelling work began in April last year and likely to be finished in the river section shortly, said by senior Railway Minster.
The ninth Ficci-IBA survey in their report said the proportion of respondent banks citing a reduction in NPAs stood at 52 per cent as against 43 per cent in the previous round. About 55 per cent of reporting public sector banks (PSBs) have cited a reduction in NPA levels.
“The Centre is giving up to 8% subsidy on purchase of machines like Super SMS, Happy Seeder, Paddy Straw Chopper and zero till drill used for residue management. Those farmers who don’t want to buy these machines can easily get them on rent from Custom Hiring Centres (CHCs) in their neighbourbood,” he said.
“The introduction of TREEL Sensors is the first such high-tech move towards creating a Smart Tyre in Indian markets. It provides an enhanced value proposition to vehicle owners, particularly fleets, by reducing their operational costs. Underscoring our commitment to ‘Make in India “- Dr. Raghupati Singhania, Chairman & MD, JK Tyre & Industries
Indian Railways has manufactured high speed locomotive touching a speed of 180 km per hour.
The announcement comes a week after the Centre scrapped special status to Jammu and Kashmir under Article 370 of the Constitution. Among the reasons cited was that the provision had restricted the state’s industrial growth and development.
New Delhi is working on a host of other connectivity initiatives. It is involved in the Kaladan transport project, which links the remote Northeast with other parts of the country via Myanmar and the Bay of Bengal.
The project is being pitted as India’s first ropeway project— and also the longest one— over sea. According to the report, the project will be executed by Mumbai Port Trust (MbPT), which falls under the Ministry of Shipping.
