RBI to develop its own office space in Goa’s Patto Plaza in 3 years

21 Feb 2022 CW Team

The Reserve Bank of India (RBI) has begun the process to develop dedicated office space in Goa, with RBI governor Shaktikanta Das laying the foundation stone for a new building that will be set up on a 2,020 sq m plot at Patto Plaza.

The RBI building is likely to be achieved in three years and could be designed according to the Indian Green Building Council (IGBC) standards, officials told the media. The RBI’s Goa office presently works from rented premises in a privately-held building at Patto.

The challenges that lie ahead are the timely development of the office building while at the same time, the construction should be environment-friendly and energy-efficient, without compromising on the quality and structural soundness, said Das, who was in Goa for a short visit to lay the foundation stone.

The Economic Development Corporation (EDC), the state-run non-banking finance firm, assigned the plot to the RBI for Rs 30.3 crore, excluding Goods and Services Tax (GST) and stamp duty. The plot near the LIC divisional office was originally sold to Air India but was never used. The EDC has allocated the plot on a long lease to the RBI and the possession continues to remain with the EDC. The RBI will additionally pay the EDC a yearly rent for the plot.

Speaking at the event, Das told the media that despite the difficulties posed by the Covid pandemic, the RBI has pro-actively worked to provide stability to the economy and the banking system by taking up various conventional and unconventional steps. RBI officials told the media that the construction agreement for the office building has been given to the Central Public Works Department (CPWD) and that the building will have an “iconic” design.

Image Source

Also read: RBI to hold lending rate steady at 4% to aid economic recovery

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..