Larsen & Toubro’s (L&T) Power Transmission & Distribution (PT&D) business has recently clinched significant contracts for various power grid system projects and renewable energy (RE) initiatives in India and overseas. The company announced this achievement in a statement released on Wednesday. Highlighting the company’s dominant position in the region’s clean energy sector, L&T secured orders…
Ashima Goyal, a member of the RBI’s Monetary Policy Committee (MPC), stated that as India develops, the problem of high food inflation will become less severe. She highlighted that modern supply chains with diversified sources can swiftly address sudden spikes in prices of specific food items. Goyal emphasized the significance of increasing agricultural productivity to…
The Reserve Bank of India (RBI) has announced an invitation for applications from small finance banks (SFBs) meeting specific criteria, including a minimum net worth of Rs 1,000 crore, to apply for the status of regular or universal banks. The RBI had issued guidelines for licensing SFBs in the private sector in November 2014. Currently,…
The Armed Forces Medical Services (AFMS) and the Indian Institute of Technology (IIT) Delhi signed a Memorandum of Understanding (MoU) on April 22, 2024, for collaborative research and training. The MoU, signed by Director General Armed Forces Medical Services Lt Gen Daljit Singh and Director IIT Delhi Prof Rangan Banerjee, aims to focus on developing…
Tata Power Solar Systems has joined hands with Indian Bank to encourage the adoption of solar rooftop systems among residential consumers. This partnership focuses on providing financing solutions for installations under the Pradhan Mantri Surya Ghar Muft Bijli Yojana scheme. Under this collaboration, residential consumers can access loans up to Rs 2 lakh at an…
To address the escalating electricity demand during the summer season, the Government of India has announced plans to activate gas-based power plants. In a bid to maximize power generation from these stations, the government has issued directives to all gas-based generating stations under Section 11 of the Electricity Act, 2003. This section empowers the government…
Indian Renewable Energy Development Agency Limited (IREDA) has opened an office in GIFT City, Gandhinagar, specialising in offering debt options denominated in foreign currencies. This initiative aims to enable natural hedging and substantially decrease financing costs for Green Hydrogen and Renewable Energy Manufacturing projects, thereby supporting India’s shift towards a more sustainable future. The announcement…
The National Highways Authority of India (NHAI) has identified 33 highway stretches spanning 2,741 kilometer for monetisation during the current financial year. These stretches encompass Lucknow-Aligarh, Kanpur-Ayodhya-Gorakhpur, and Bareilly-Sitapur in Uttar Pradesh; Gurugram-Kotputli-Jaipur bypass and Jaipur-Kishangarh in Rajasthan; Panikoili-Rimuli in Odisha; Chennai bypass in Tamil Nadu; and Muzaffarpur-Darbhanga-Purnia highway in Bihar. In the fiscal year…
Indian Renewable Energy Development Agency Limited (IREDA) has revealed its audited financial results for the fiscal year 2023-24. IREDA has achieved an annual profit after tax (PAT) of Rs 1252.23 crore which is an all time high. The results mark an impressive growth of 44.83 percent over the previous fiscal year. The company has successfully…
To address the escalating electricity demand during the summer season, the Government of India has announced plans to activate gas-based power plants. In a bid to maximize power generation from these stations, the government has issued directives to all gas-based generating stations under Section 11 of the Electricity Act, 2003. This section empowers the government…
