Greater Chennai Corporation Allocates `5.33 Billion for Infra Enhancements

RRB Amalgamation Reduces Numbers to 28, Boosts Viability

To improve the operational viability of Regional Rural Banks (RRBs) and harness economies of scale, the Government of India initiated structural consolidation of RRBs in the financial year 2005-06.During Phase I (2005-10), the number of RRBs was reduced from 196 to 82 by amalgamating RRBs sponsored by the same bank within a state. Phase II (2012-14) further reduced the number from 82 to 56 by amalgamating RRBs across different sponsor banks operating in geographically contiguous areas within a state. Phase III began in 2019, focusing on merging weaker RRBs with stronger ones, bringing the tota..

Centre Approves Rs 20 Billion for NTPC and Rs 7 Billion for NLC Renewables

The Cabinet Committee on Economic Affairs has approved a substantial investment of Rs 20 billion in the National Thermal Power Corporation of India (NTPC) to bolster renewable energy production through its wholly owned subsidiary, NTPC Green Energy.In addition, the committee sanctioned NLC India’s request to invest Rs 7 billion in its subsidiary, NLC India Renewables Limited (NIRL), aimed at expanding renewable energy projects.With this fresh capital injection, NTPC is targeting a renewable power capacity of 60 gigawatts (GW) by 2032. These investments will enhance the renewable energy portf..

Bengaluru Plans Rs 177 Billion Twin Tunnel Road Project

The Karnataka government’s special purpose vehicle, Bengaluru Smart Infrastructure Limited (B-SMILE), has issued a global tender for an underground twin tunnel road project aimed at easing traffic congestion along Bengaluru’s north-south corridor. The project is estimated to cost Rs 177 billion, excluding GST.The proposed twin tunnels will run from Hebbal’s Esteem Mall Junction to the busy Silk Board KSRP Junction, featuring multiple entry and exit ramps along the route.According to a Money Control report, the project will be executed under a build-own-operate-transfer (BOOT) model and i..