All posts tagged: sustainable growth

PCMC demolishes 12,000 sq ft of illegal structures at hotel

PCMC demolishes 12,000 sq ft of illegal structures at hotel

The Pimpri Chinchwad Municipal Corporation (PCMC) carried out a major demolition drive in Akurdi on Wednesday, removing nearly 12,000 square feet of unauthorised structures near Hotel Majestic as part of its ongoing action against illegal constructions across the city. The operation was conducted under the direct instructions of PCMC Commissioner Dr Vijay Suryawanshi and targeted unauthorised RCC structures and tin-sheet sheds built on Survey No. 7/1/1B in Ward No. 15, which falls under the jurisdiction of the civic body`s ‘A’ Ward Office. According to civic officials, the action forms part of the municipal corporation’s broader efforts to enforce building regulations, prevent illegal construction activities and ensure planned urban development. Planned development Speaking about the demolition drive, PCMC Commissioner Dr Vijay Suryawanshi said unauthorised constructions pose a serious threat to the city`s planned and sustainable growth. He said structures built without the approval of the municipal corporation violate building regulations and cannot be allowed to remain. The civic administration is committed to implementing development plans effectively while ensuring public safety and compliance with the law. The …

Japan’s MUFG Bank to invest Rs 39,000 crore in Shriram Finance for 20% stake | Business News

Japan’s MUFG Bank to invest Rs 39,000 crore in Shriram Finance for 20% stake | Business News

In the single largest foreign direct investment (FDI) into an Indian financial services company, the board of Shriram Finance Ltd (SFL) has approved a proposal to raise Rs 39,618 crore ($4.4 billion) from Japan’s MUFG Bank Ltd through a preferential allotment of equity shares. This will give the Japanese lender a 20 per cent stake in SFL on a fully diluted basis. The transaction gives MUFG Bank, Japan’s largest bank, a strong foothold in the retail financial services in the country. Shriram Finance, which has a market capitalisation of Rs 1.69 lakh crore, reported a net profit of Rs 9,761 crore for FY25. This is the biggest investment by a Japanese bank in India after SMBC, part of the Sumitomo Mitsui Financial Group (SMFG), acquired a 20 per cent stake in Yes Bank for about Rs 13,483 crore (around $1.6 billion) in April 2024. The investment allows SMBC to raise its holding to 24.99 per cent without being classified as a promoter. With domestic growth constrained by prolonged low interest rates and an ageing population, …

Tariffs, GDP path in PM pre-budget talks | Latest News India

Tariffs, GDP path in PM pre-budget talks | Latest News India

Prime Minister Narendra Modi on Tuesday consulted economists about navigating global uncertainty and maintaining India’s economic growth momentum, ahead of the NDA government’s second budget in its third term in office. Jobs, education and infrastructure were key discussion points at the meeting, held at Niti Aayog. PM Narendra Modi and finance minister Nirmala Sitharaman at a meeting with economists and sector experts on Tuesday. (PTI) Economists shared suggestions on topics including employment generation, skill development, enhancing agricultural productivity, attracting investment and boosting exports, said an official statement. The agenda of the meet was “Maintaining India’s Growth Momentum at a Time of Global Uncertainty” and invitees also included experts from rating agencies and academics. The PM began by outlining his government’s goal of Viksit Bharat (developed economy) by 2047, the 100th year of India’s Independence. Modi said both the government and the private sector needed to work in collaboration, keeping that “single goal in mind”, the person said. The Prime Minister also said the country needs to foster a “fundamental change in mindset that is focused …

India, Germany poised for stronger ties, say Vaishnaw and Scindia | Latest News India

India, Germany poised for stronger ties, say Vaishnaw and Scindia | Latest News India

India’s status as the fastest growing major economy and Germany’s reputation as a powerhouse of innovation and precision manufacturing are compelling factors for closer business and strategic ties between the two sides, Union ministers Ashwini Vaishnaw and Jyotiraditya Scindia said on Thursday. Jyotiraditya Scindia, in his ministerial address on the theme “India and Germany: Connected for durable growth”, listed four pillars on which the bilateral relationship can be strengthened, including two-way trade that is currently worth nearly $26.5 billion dollars. (PTI) The ministers, who were addressing the opening session of the News9 Global Summit in the capital of the southwestern German state of Baden-Württemberg, also pointed to the opportunities for closer people-to-people ties, including the role that Indian professionals and students can play in fostering greater collaboration. The News9 Global Summit, being held in Stuttgart during November 21-23, is one of the first international events of its kind to be organised by an Indian media outlet and aims to deepen relations between India and Germany and bolster sustainable growth. Vaishnaw, the Union minister of railways …