Union Bank of India Sanctions Rs 1 Bn in MSME Loans in Nellore

07 Mar 2025 CW Team

Union Bank of India (UBI) sanctioned loans worth nearly Rs 1 billion to Micro, Small, and Medium Enterprises (MSMEs) in SPSR Nellore district during its Mega MSME Outreach Camp held on Wednesday. The event, organized by UBI’s Nellore regional office at PSR Convention in the city, witnessed participation from over 800 attendees.

As part of the sanctioned amount, approximately Rs 500 million was disbursed through cheques to self-help group (SHG) members. The initiative was supported by key officials, including the Mission for Elimination of Poverty in Municipal Areas (MEPMA) Project Director E Radhamma and District Rural Development Agency (DRDA) Project Director Nagaraja Kumari, who attended as chief guests.

UBI General Manager Talasila Kameswara Rao emphasized the bank’s commitment to facilitating MSME loans and highlighted advancements in digital lending, which have simplified the process of availing financial assistance. The event also focused on raising awareness about the role of MSMEs in economic growth and the support offered by UBI in fostering their development.

UBI Nellore regional head A Rajasekharam elaborated on the bank’s efforts in promoting MSMEs and informed attendees about various financial services available to SHG members. Additionally, customer experiences and the bank’s service offerings were shared with the participants.

The outreach program saw active participation from bank managers representing 63 branches across the district, underscoring UBI’s extensive involvement in strengthening financial access for MSMEs and SHGs in the region.

News source: The Hindu

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..