Surplus funds of RBI can be used for infra projects: Nitin Gadkari

On Wednesday, Minister for Road Transport & Highways, Nitin Gadkari, told the media that infrastructure projects in the country require low-cost financing, and surplus reserves of RBI can be used for the same.

Addressing a virtual CII event, Gadkari told the media that the National Highways Authority of India (NHAI) must also have a financial arm like the Power Finance Corporation (PFC).

Gadkari said that the country has a surplus of dollar reserves. He will discuss with the R..

IRFC posts all-time high revenue and profit numbers for FY21

On June 30, Indian Railway Finance Corporation Limited (“IRFC” or the “Company”) the dedicated market borrowing arm of the Indian Railways posted profit growth of 126% on YoY basis for Q4 FY 2020-21 to stand at Rs 1,482.55 crore vs Rs 654.63 crore reported in Q4FY2020.

The net profit for FY 2020-21 grew by 38.34% to Rs 4,416.13 Crore as against Rs 3,192.06 Crore for the corresponding financial year ended 31st March, 2020. The total revenue from operation grew by 17.50% on YoY bas..

Andhra train crash: CRS report implies avoidable accident

Railway safety experts, loco pilot associations, and trade union representatives attributed primary blame for the collision of two trains in the Waltair Division of the East Coast Railway, which resulted in 17 fatalities, to senior railway operating officials. They referred to the October 29, 2023, train accident.

According to the Commissioner of Railway Safety (CRS) report, it was found that three trains had overrun two defective signals before the accident. It was alleged that senior operating officials had overlooked these signals. The collision occurred when Train No. 08504 (VSKP-R..

Railways Calls for Bids for Varanasi Division Projects

Indian Railways has initiated the bidding process for various infrastructure projects in the Varanasi division. These projects aim to enhance rail connectivity and modernise facilities in the region, bolstering local transportation and economic growth.

The projects include the construction of new railway lines, upgrades to existing tracks, and improvements in station infrastructure across Varanasi division. This initiative is part of Indian Railways' ongoing efforts to modernise and expand its network, catering to increasing passenger and freight demands.

The bidding process invi..