Tag: group

  • Telangana: Mahindra group to set up EV unit worth Rs 1K cr in Zaheerabad

    Telangana: Mahindra group to set up EV unit worth Rs 1K cr in Zaheerabad

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    Hyderabad: Mahindra & Mahindra (M&M) has announced the establishment of the Last Mile Mobility Electric Vehicle manufacturing facility at a cost of Rs 1K crore in Zaheerabad.

    As an expansion of its existing manufacturing operations, M&M joined hands with the government of Telangana by signing a memorandum of understanding (MoU) with it.

    It happened on the sidelines of the first edition of Mobility Next Hyderabad Summit during the announcement of Telangana Mobility Valley (TMV), India’s first new mobility-focused cluster.

    The development and production of three and four-wheeler electric vehicles for M&M’s Last Mile Mobility business, mentions the MoU.

    The proposed investment will create an additional 800-1,000 jobs at Zaheerabad, where the company has already been manufacturing tractors since 2013.

    This union will develop a roadmap for the manufacturing of electric vehicles and energy storage systems in the state.

    According to the Mahindra group, considering the size of the investment, the EV manufacturing project is expected to fall under the mega projects category under the Telangana government’s EV investment policy.

    Announcing the latest investment to drive into the recently announced Telangana Mobility Valley, the Telangana government announced that Mahindra & Mahindra will collaborate with the state in laying down the roadmap for the development of EV and energy storage systems (ESS) manufacturing units here in Telangana.

    “The proposed facility by M&M will greatly contribute to the goal of TMV to further accelerate the growth of sustainable mobility in India. The location at Zaheerabad, one of the four mega EV manufacturing clusters being developed by the state, will allow M&M to access state-of-the-art infrastructure planned to be created by the state in the mega clusters,” read the statement by the state government.



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    ( With inputs from www.siasat.com )

  • Govt running away from JPC probe into allegations against Adani Group: Venugopal

    Govt running away from JPC probe into allegations against Adani Group: Venugopal

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    New Delhi: Rajya Sabha Congress MP K C Venugopal on Wednesday alleged that the government was “running away” from an investigation by a Joint Parliamentary Committee (JPC) on the allegations against the Adani Group as it wanted to “hide something”.

    Leaders from different opposition parties in the Upper House also alleged that the President’s speech missed out key issues, especially the “attacks” on minority Muslims, price rise and unemployment, and demanded a caste-based census. Several of them demanded a JPC probe into the Hindenburg-Adani issue.

    Speaking on the Motion of Thanks on the President’s Address in Rajya Sabha, Venugopal said the truth will not come out with a JPC probe.

    “This House has the greatest tradition. That House also has the greatest tradition. Whenever this type of big scam is raised in the public domain, it is the right of the parliamentarians to ask for an inquiry from the government

    “If the government does not need to hide any truth, then it should come forward for a JPC inquiry, like during the UPA rule, how many JPC inquiries we have done.. we are asking why are you running away from JPC.. something is there somewhere,” he said.

    He claimed there was high unemployment in the country and that some media platforms were spreading venom in the country in the name of Hindu-Muslim.

    Senior BJP leader and Union Minister Bhupender Yadav hit back at the Congress, saying the opposition old party does not believe in any data put out by the goverment as he reeled out numbers related to employment generations, rise in internet users, vaccination, MUDRA loan, and free cooking gas connections.

    The Congress does not appreciate anything on which India takes pride, he alleged.

    Ajit Kumar Bhuyan (Independent), who belongs to Assam, said the people of the region had developed some hope after the prime minister told the nation that the Naga conflict was resolved when the Centre inked the framework agreement in August, 2015 but the President’s Address does not reflect any concern on the Naga conflict.

    Vivek Thakur (BJP) spoke about the various development works and initiatives by the Modi government that have empowered the poor, farmers, dalits, tribals, and rural India during the last nine years.

    Samajwadi Party (SP) leader Jaya Bachchan demanded that the government conduct a caste-based census so that Other Backward Community (OBC) people can avail the benefits of government welfare schemes and jobs.

    She said beneficiaries for the government’s welfare schemes are identified based on caste data of scheduled caste (SC) and scheduled tribes (ST).

    After 1931, a caste-based census – that would have helped get the data on OBCs – was not undertaken, she said.
    “We demand… a caste-based census so that they (OBCs) get advantage and their due share in the welfare schemes and the government jobs,” she added.

    Bachchan, also a Bollywood actress, alleged that the President’s speech failed to mention what the government has achieved in improving the lives of women, sanitation workers and senior citizens.

    There was no mention of the Nirbhaya fund in the speech, she said, adding that the government also showed complete disregard towards the artist community.

    NCP leader Fauzia Khan alleged that the ruling government was using the Enforcement Directorate to target the opposition party members, and alleged there is no politics with principles at present as “fear and exclusion” are used as a strategy for polarisation.

    She also expressed concern over China’s alleged “water bomb” being developed by building river bridges and airports in neighbouring Nepal and Tibet. “This is a water bomb. Is the government thinking of signing a treaty with China?” she asked.

    Pressing for a JPC probe on the Hindenburg-Adani issue, Abdul Wahab (IUML) alleged that the President’s speech did not address the struggles of the Muslims.

    “India’s largest minority, that is Muslims, were not even once discussed by the President. We know there has been an increase in targeted attacks and demolition of houses in Muslim-dominated localities in UP, Uttarakhand, Assam and Madhya Pradesh,” he said.

    The participation of Muslims in higher education has declined to 4.6 per cent from 5.5 per cent. The quality of public education deteriorated, and as a result, private tuition and coaching centres thrived. Financial aid to higher education students decreased, he added.

    Wahab said the President’s address should have set a roadmap for addressing the common concerns of people in areas like rising unemployment, increase in gas cylinder and petrol price and hike in prices of essential food items.

    Sulata Deo (BJD) talked about women’s empowerment and emphasised the need for the Women’s Reservation Bill.

    Pabitra Magherio (BJP) praised the Modi government for taking steps to end terrorism in the Northeast. “There has been a 74 per cent decline in terrorist activities. Terrorists and rebel groups are in dialogue now.”

    Terrorist activities have reduced and as a result, G-20 meetings are being held there also, he added.

    Sonal Mansingh (BJP) drew attention to the government initiatives taken to promote and preserve India’s rich cultural heritage.
    “Government has chosen the path of consolidating heritage and giving priority to development”, she said.

    The government’s endeavour has been to focus on preserving India’s glorious past, and paying homage and tribute to great freedom fighters, she said.

    She mentioned initiatives such as upgrading five iconic museums to international standards, the Statue of Unity, and the statue of Netaji Subhas Chandra Bose at India Gate.

    She said that millions of people have for centuries yearned for the temple of Lord Ram, for which the prime minister led the bhoomi pujan.

    “It was an emotional moment for millions since many people had wondered if they would ever see Shri Ram in a grand temple instead of a makeshift tent,” she said.

    Kavita Patidar (BJP) said the government has taken a number of policy measures for the welfare of farmers, right from the PM-KISAN scheme to One Nation One Fertiliser scheme, and PM Kisan Samruddhi Kendras.

    Birendra Prasad Baishya (AGP) recounted that in 2014 after taking over as the prime minister, Narendra Modi announced that the Northeast region is a priority.

    “He not only announced, he has implemented,” Baishya said. Before 2014, Assam had only one cancer hospital, and now that number has grown to nine, he added.

    Ramchandra Jangra (BJP), Brijlal (BJP) and Rwngwra Narzary (UPPL) also participated in the debate.

    Radha Mohan Das Agarwal (BJP) focused on the health sector. He said the health budget has increased to Rs 86,200 crore in 2022-23 from Rs 33,700 crore in 2013-14.

    Santhosh Kumar P (CPI) accused the central government of weakening institutions like SEBI.

    “It is actually now a Silent and Embarrassed Body of India,” he alleged.

    A D Singh (RJD) also raised the demand for JPC probe.

    “What is the harm if a JPC is constituted? At least, you can show to the world that everything is transparent here, and in case, the Opposition is saying something wrong, we will also get embarrassed if the JPC clears everything that a particular industrialist has done,” he said.

    While supporting the motion of thanks, Manas Ranjan Mangaraj (BJD) highlighted that banking services are absent in many Panchayats of Odisha.

    “These also need to be provided by the Centre,” he said, and added that because of the implementation of Direct Benefit Transfer, the people of Odisha will not be benefitted unless Brick and Mortar (Physical) banks are there in the panchayats.

    TMC MP Abir Ranjan Biswas said the immediate inquiry into the “big scam” which is currently creating much furore can happen in two different ways. It could be through a JPC or a time-bound probe by a Supreme Court-monitored Committee.

    “So, we demand the second, of course, if the first plan is touching the weak nerve of the government,” he said.

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    #Govt #running #JPC #probe #allegations #Adani #Group #Venugopal

    ( With inputs from www.siasat.com )

  • Govt running away from JPC probe into allegations against Adani Group: Venugopal

    Govt running away from JPC probe into allegations against Adani Group: Venugopal

    [ad_1]

    New Delhi: Rajya Sabha Congress MP K C Venugopal on Wednesday alleged that the government was “running away” from an investigation by a Joint Parliamentary Committee (JPC) on the allegations against the Adani Group as it wanted to “hide something”.

    Leaders from different opposition parties in the Upper House also alleged that the President’s speech missed out key issues, especially the “attacks” on minority Muslims, price rise and unemployment, and demanded a caste-based census. Several of them demanded a JPC probe into the Hindenburg-Adani issue.

    Speaking on the Motion of Thanks on the President’s Address in Rajya Sabha, Venugopal said the truth will not come out with a JPC probe.

    “This House has the greatest tradition. That House also has the greatest tradition. Whenever this type of big scam is raised in the public domain, it is the right of the parliamentarians to ask for an inquiry from the government

    “If the government does not need to hide any truth, then it should come forward for a JPC inquiry, like during the UPA rule, how many JPC inquiries we have done.. we are asking why are you running away from JPC.. something is there somewhere,” he said.

    He claimed there was high unemployment in the country and that some media platforms were spreading venom in the country in the name of Hindu-Muslim.

    Senior BJP leader and Union Minister Bhupender Yadav hit back at the Congress, saying the opposition old party does not believe in any data put out by the goverment as he reeled out numbers related to employment generations, rise in internet users, vaccination, MUDRA loan, and free cooking gas connections.

    The Congress does not appreciate anything on which India takes pride, he alleged.

    Ajit Kumar Bhuyan (Independent), who belongs to Assam, said the people of the region had developed some hope after the prime minister told the nation that the Naga conflict was resolved when the Centre inked the framework agreement in August, 2015 but the President’s Address does not reflect any concern on the Naga conflict.

    Vivek Thakur (BJP) spoke about the various development works and initiatives by the Modi government that have empowered the poor, farmers, dalits, tribals, and rural India during the last nine years.

    Samajwadi Party (SP) leader Jaya Bachchan demanded that the government conduct a caste-based census so that Other Backward Community (OBC) people can avail the benefits of government welfare schemes and jobs.

    She said beneficiaries for the government’s welfare schemes are identified based on caste data of scheduled caste (SC) and scheduled tribes (ST).

    After 1931, a caste-based census – that would have helped get the data on OBCs – was not undertaken, she said.

    “We demand… a caste-based census so that they (OBCs) get advantage and their due share in the welfare schemes and the government jobs,” she added.

    Bachchan, also a Bollywood actress, alleged that the President’s speech failed to mention what the government has achieved in improving the lives of women, sanitation workers and senior citizens.

    There was no mention of the Nirbhaya fund in the speech, she said, adding that the government also showed complete disregard towards the artist community.

    NCP leader Fauzia Khan alleged that the ruling government was using the Enforcement Directorate to target the opposition party members, and alleged there is no politics with principles at present as “fear and exclusion” are used as a strategy for polarisation.

    She also expressed concern over China’s alleged “water bomb” being developed by building river bridges and airports in neighbouring Nepal and Tibet. “This is a water bomb. Is the government thinking of signing a treaty with China?” she asked.

    Pressing for a JPC probe on the Hindenburg-Adani issue, Abdul Wahab (IUML) alleged that the President’s speech did not address the struggles of the Muslims.

    “India’s largest minority, that is Muslims, were not even once discussed by the President. We know there has been an increase in targeted attacks and demolition of houses in Muslim-dominated localities in UP, Uttarakhand, Assam and Madhya Pradesh,” he said.

    The participation of Muslims in higher education has declined to 4.6 per cent from 5.5 per cent. The quality of public education deteriorated, and as a result, private tuition and coaching centres thrived. Financial aid to higher education students decreased, he added.

    Wahab said the President’s address should have set a roadmap for addressing the common concerns of people in areas like rising unemployment, increase in gas cylinder and petrol price and hike in prices of essential food items.

    Sulata Deo (BJD) talked about women’s empowerment and emphasised the need for the Women’s Reservation Bill.

    Pabitra Magherio (BJP) praised the Modi government for taking steps to end terrorism in the Northeast. “There has been a 74 per cent decline in terrorist activities. Terrorists and rebel groups are in dialogue now.”

    Terrorist activities have reduced and as a result, G-20 meetings are being held there also, he added.

    Sonal Mansingh (BJP) drew attention to the government initiatives taken to promote and preserve India’s rich cultural heritage.

    “Government has chosen the path of consolidating heritage and giving priority to development”, she said.

    The government’s endeavour has been to focus on preserving India’s glorious past, and paying homage and tribute to great freedom fighters, she said.

    She mentioned initiatives such as upgrading five iconic museums to international standards, the Statue of Unity, and the statue of Netaji Subhas Chandra Bose at India Gate.

    She said that millions of people have for centuries yearned for the temple of Lord Ram, for which the prime minister led the bhoomi pujan.

    “It was an emotional moment for millions since many people had wondered if they would ever see Shri Ram in a grand temple instead of a makeshift tent,” she said.

    Kavita Patidar (BJP) said the government has taken a number of policy measures for the welfare of farmers, right from the PM-KISAN scheme to One Nation One Fertiliser scheme, and PM Kisan Samruddhi Kendras.

    Birendra Prasad Baishya (AGP) recounted that in 2014 after taking over as the prime minister, Narendra Modi announced that the Northeast region is a priority.

    “He not only announced, he has implemented,” Baishya said. Before 2014, Assam had only one cancer hospital, and now that number has grown to nine, he added.

    Ramchandra Jangra (BJP), Brijlal (BJP) and Rwngwra Narzary (UPPL) also participated in the debate.

    Radha Mohan Das Agarwal (BJP) focused on the health sector. He said the health budget has increased to Rs 86,200 crore in 2022-23 from Rs 33,700 crore in 2013-14.

    Santhosh Kumar P (CPI) accused the central government of weakening institutions like SEBI.

    “It is actually now a Silent and Embarrassed Body of India,” he alleged.

    A D Singh (RJD) also raised the demand for JPC probe.

    “What is the harm if a JPC is constituted? At least, you can show to the world that everything is transparent here, and in case, the Opposition is saying something wrong, we will also get embarrassed if the JPC clears everything that a particular industrialist has done,” he said.

    While supporting the motion of thanks, Manas Ranjan Mangaraj (BJD) highlighted that banking services are absent in many Panchayats of Odisha.

    “These also need to be provided by the Centre,” he said, and added that because of the implementation of Direct Benefit Transfer, the people of Odisha will not be benefitted unless Brick and Mortar (Physical) banks are there in the panchayats.

    TMC MP Abir Ranjan Biswas said the immediate inquiry into the “big scam” which is currently creating much furore can happen in two different ways. It could be through a JPC or a time-bound probe by a Supreme Court-monitored Committee.

    “So, we demand the second, of course, if the first plan is touching the weak nerve of the government,” he said.

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    #Govt #running #JPC #probe #allegations #Adani #Group #Venugopal

    ( With inputs from www.siasat.com )

  • ‘No pressure’: Hyderabad’s GVK Group rebuts Rahul’s statement on Adani

    ‘No pressure’: Hyderabad’s GVK Group rebuts Rahul’s statement on Adani

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    Hyderabad: Business conglomerate GVK Group on Wednesday categorically said there was no “extraneous pressure” from anyone to sell its stake in Mumbai airport as alleged by Congress leader Rahul Gandhi.

    The company’s comments came a day after Gandhi alleged in Lok Sabha that “Mumbai airport, was taken away from GVK using agencies such as the CBI and the ED, and was given to Adani by the Government of India”.

    “GVK reiterates that the decision to sell its stakes in Mumbai Airport to Adani, was taken by the management and there was absolutely no question of any extraneous pressure being exerted on us,” GVK Group spokesperson told PTI.

    Adani Group, which is currently in the eye of a storm over the recent report by short-seller Hindenburg Research related to its company’s business dealings, took over the management of the Mumbai airport from GVK Group in July 2021.

    While explaining the circumstances that led to the sale of the airport, GVK Group Vice Chairman Sanjay Reddy told a TV channel that it was looking to raise funds for the airport business.

    Reddy said that at that time, Adani Group founder-chairman Gautam Adani approached him saying he had a lot of interest in the airport and whether GVK Group was willing to do a transaction with him.

    “… He (Adani) said that he will assure that we will conclude the entire transaction in one month which was very important for us. So, from that perspective, whatever we did was in the interest of the company and the lenders who we had to repay and therefore, we had to close the transaction with Adani because we didn’t see any light of day with the other investors,” Reddy said.

    While leading the Opposition attack over the Adani-Hindenburg issue in Lok Sabha on Tuesday, Gandhi alleged that the government tweaked rules in favour of Adani and said the clause that no one without any prior experience would be involved in the development of airports was done away with.

    “This rule was changed by the government and Adani was given six airports. After that, India’s most strategic, profitable airport, Mumbai Airport, was taken away from GVK using agencies like the CBI, ED, and was given to Adani by the Government of India,” he alleged.

    In July 2021, Adani Enterprises Limited said Adani Airport Holdings Ltd (AAHL), the flagship holding company of Adani Group’s airport business, will hold nearly 98 per cent stake in GVK Airport Developers Ltd (GVKADL) pursuant to the rights exercised by it as a lender to the company.

    AAHL took over the management control of Mumbai International Airport Ltd (MIAL).

    GVKADL is the holding company of GVK Airport Holdings Ltd (GVKAHL) which holds 50.50 per cent equity stake in MIAL. The latter holds 74 per cent equity stake in Navi Mumbai International Airport Ltd.

    (Except for the headline, this story has not been edited by Siasat staff and is published from a syndicated feed.)

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    #pressure #Hyderabads #GVK #Group #rebuts #Rahuls #statement #Adani

    ( With inputs from www.siasat.com )

  • Plea in SC seeks constitution of committee to probe Hindenburg Research report on Adani Group

    Plea in SC seeks constitution of committee to probe Hindenburg Research report on Adani Group

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    New Delhi: A plea has been filed in the Supreme Court seeking a direction to the Centre to constitute a committee monitored by a retired apex court judge to enquire and investigate into the Hindenburg Research report which made a slew of allegations against the business conglomerate led by industrialist Gautam Adani.

    The fresh public interest litigation (PIL), filed by advocate Vishal Tiwari, has also sought directions to set up a special committee to oversee the sanction policy for loans of over Rs 500 crore given to big corporates.

    Last week, another PIL was filed in the apex court seeking prosecution of short seller Nathan Anderson of US-based firm Hindenburg Research and his associates in India and the US for allegedly exploiting innocent investors and the “artificial crashing” of Adani Group’s stock value in the market.

    The Adani Group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations including fraudulent transactions and share-price manipulation against the business conglomerate led by Gautam Adani.

    The Adani Group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.

    In his plea, Tiwari has said the petition depicts the “drastic condition and fate of people” when there arises a situation of share fall in the securities market due to various reasons.

    “Lots of people who had the whole lifetime saving in such stocks get a maximum setback due to fall in such shares with a huge amount of money getting into drain,” the PIL said.

    It said with the recent news of the publication of the Hindenburg report, it has led to the loss of huge amount for various investors who have invested their life-saving in such shares.

    “In the aftermath of an unprecedented attack on billionaire Gautam Adani’s vast empire by Hindenburg, the market value of all 10 Adani stocks have halved with investors sitting with a colossal loss…,” the plea said.

    It claimed that no concrete steps have been taken by authorities on the issue despite a “massive attack being perpetrated” on the country’s economy.

    “It is ultimately the public money for which the respondents (Centre and others) are answerable and there needs to be strict concern for mitigating of such loans with a clear process and sanction policy for such high stake loan amount,” it said.

    The plea has made the Centre and others, including the Reserve Bank of India and the Securities and Exchange Board of India, as respondents.

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    #Plea #seeks #constitution #committee #probe #Hindenburg #Research #report #Adani #Group

    ( With inputs from www.siasat.com )

  • WhatsApp rolling out longer group subjects, descriptions on iOS beta

    WhatsApp rolling out longer group subjects, descriptions on iOS beta

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    San Francisco: Meta-owned messaging platform WhatsApp is reportedly rolling out longer group subjects and descriptions on iOS beta.

    This will make it easier for users to better describe groups, reports WABetaInfo.

    Beta users can now choose a longer group description, up to 2048 characters, as the previous limit was 512 characters.

    Longer group descriptions will help group admins to save additional information for describing their groups.

    Moreover, the characters of the group subject have been increased to 100 to provide admins more freedom when naming their groups.

    The ability to choose a longer group subject and description is available for all users after installing the latest WhatsApp beta for iOS update from the TestFlight app, the report said.

    Last week, a report mentioned that the messaging platform was rolling out similar changes to the group subjects and descriptions on Android beta.

    Meanwhile, it was reported that the platform was working on a new feature which will allow users to pin messages within chats and groups.

    Subscribe us on The Siasat Daily - Google News

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    #WhatsApp #rolling #longer #group #subjects #descriptions #iOS #beta

    ( With inputs from www.siasat.com )

  • Bengaluru: Prahlad Joshi calls for harmony with nature at G20 Enegery Transitions Group meet

    Bengaluru: Prahlad Joshi calls for harmony with nature at G20 Enegery Transitions Group meet

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    Bengaluru: Union Minister Pralhad Joshi on Sunday highlighted India’s lifestyle culture and said that it is possible to live in ‘harmony with nature’ without doing undue exploitation.

    Union minister was addressing the G20 Energy Transitions Group meeting in Bengaluru on Sunday and said that the Indians believe in nature-friendly practices.

    “It is possible to live in harmony with nature without its undue exploitation. We Indians believe in nature-friendly practices. Reduce, Reuse, Recycle and Circular economy is part of our lifestyle culture,” he said.

    The Minister also stressed the need to evolve and said precepts for the youths of the world that help in developing unified global perspectives to economic growth, and to bridge the disparity of thinking between developing and developed nations.

    Joshi noted that India recognizes the importance of energy security and affordability with climate change.

    “Energy transition in developing countries requires an investment in clean fuel. While prioritizing growth we can’t compromise energy for future generations,” he said.

    The minister also emphasized that there will be challenges in the energy transition, and said that the G20 nations must work with international communities to target the energy transition goal.

    “G20 nations must understand that the energy transition will have challenges and opportunities for nations. We must work with international communities to target energy transition goal from fossil fuels to cleaner fuel which is inclusive and just,” said Joshi.

    Union Minister for Power RK Singh called for preparing an ‘inclusive agenda’, while stating that nearly 800 million people globally do not have access to energy.

    ANI 20230205070207

    The Minister said that there is a need for a holistic discourse on energy security.

    “Holistic discourse is needed on energy alternatives, security, and transition. Growing energy demand requires viable storage. 800 million people globally don’t have energy access. We must make inclusive agenda,” he said.

    India has assumed the presidency of G20 from December 1, 2022, for one year.

    In its presidency, the first Energy Transitions Working Group (ETWG) Meeting is being held in Bengaluru from February 5-7, 2023.

    The seminar focuses on underlining the importance of CCUS for achieving a “clean energy transition” and subsequently moving towards net zero.

    The goal is to reduce one billion tons of total projected emissions by 2030 and bring down the country’s carbon intensity to less than 45 percent.

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    #Bengaluru #Prahlad #Joshi #calls #harmony #nature #G20 #Enegery #Transitions #Group #meet

    ( With inputs from www.siasat.com )

  • Axis Bank clarifies it remains comfortable with exposure to Adani Group

    Axis Bank clarifies it remains comfortable with exposure to Adani Group

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    Mumbai: Axis Bank on Saturday clarified that the lender remains comfortable with its exposure to the Adani Group.
    In a statement shared with exchanges, the lender wrote, “We extend credit, basis comfort on cash flow, security, and repayment capability of obligors as per the Bank’s credit assessment framework. We remain comfortable with our exposure to Adani Group basis the same.”

    The lender also said its exposure to Adani Group is primarily to the operating companies in the ports, transmission, power, gas distribution, roads, airports, etc. It also added that the non-fund-based facilities are primarily in the form of letters of credit and performance bank guarantees that are majorly short tenor.

    In addition, the lender said the bank’s fund based and non-fund based outstanding towards the Group’s joint ventures is at 0.02 percent and 0.25 percent, respectively of the Bank’s net advances.

    Further, the lender said, “We (the bank) would like to highlight that the Bank has a resilient balance sheet with standard asset coverage of 1.53 percent as of December 31, 2022.”

    An obligor, also known as a debtor, is a person or entity who is legally or contractually obliged to provide a benefit or payment to another.

    The Gautam Adani-led group’s assets had been declining since last week after Hindenburg Research came out with a damaging report on the various activities of the conglomerate.

    In another development, S&P Dow Jones Indices said Adani Enterprises will be removed from the Dow Jones Sustainability Indices due to recent allegations of stock manipulation and accounting fraud that were leveled against the conglomerate.

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    #Axis #Bank #clarifies #remains #comfortable #exposure #Adani #Group

    ( With inputs from www.siasat.com )

  • Adani Group employees to use public toilet to restore confidence in investors that they are eating well

    Adani Group employees to use public toilet to restore confidence in investors that they are eating well

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    The Adani Group has shed over $108 billion in market value since Hindenburg Research accused the company of stock manipulation and accounting fraud in a Jan. 24 report. Investors are losing confidence in Adani Group and retails investors are now into panic selling mode.

     

    However, Adani is taking steps to restore confidence among the investors and in one such attempt, Adani has asked Adani Group employees to take dump at public toilets to show the investors and public that the employees are being fed well.  Adani wants to show that he still has enough assets and cash to repay all his debts.

     

    Soon after a picture of Adani group employees taking dump at a public toilet went viral on social media, the Adani share price witnesses a rise. Experts have suggested Adani to wear Rs 80,000 sneakers in Public and use atleast iPhone 14 (if not pro or pro max).

     

    Adani himself has started drinking black water, which is one of the costliest packaged drinking water. Apart from Adani only Kohli drinks black water. These are only a few steps that Adani Group is taking to restore confidence in investors.

     

     

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    #Adani #Group #employees #public #toilet #restore #confidence #investors #eating

    [ Disclaimer: With inputs from The Fauxy, an entertainment portal. The content is purely for entertainment purpose and readers are advised not to confuse the articles as genuine and true, these Articles are Fictitious meant only for entertainment purposes. ]

  • TSPSC group 4 exam date released

    TSPSC group 4 exam date released

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    Hyderabad: Telangana State Public Service Commission (TSPSC) on Thursday announced the group 4 exam date.

    The examination which consists of two papers will be conducted on July 1, 2023. While paper I will be held from 10 am to 12:30 pm, paper II is scheduled to be conducted from 2:30 pm to 5 pm.

    The commission also announced that the hall tickets will be released seven days prior to the TSPSC group 4 exam date.

    Objections against answer key

    After conducting the group 4 exam, TSPSC will release the key on the official website of the commission.

    Any objection related to answer key or question papers can be submitted online on the commission’s website. It has to be submitted before the last date.

    For each objection, the candidate has to pay Rs 500. The payment can be done online through payment gateways.

    Selection of candidates for TSPSC group 4 jobs

    The selection of candidates for TSPSC group 4 jobs will be done based on their performance in a written test which will be objective type.

    After the written test, candidates have to appear for verification of certificates. On the verification day, they have to produce all original documents.

    The appointment of selected candidates will be subject to their being found medically fit in the appropriate Medical Examination.

    The government is going to fill up over eight thousand group 4 vacancies in various government departments.

    The selected candidates will get a designation of either junior assistant or junior accountant depending on the posting department. Their pay scale will be Rs 24280 to 72850.

    They will be posted in any of the 99 government departments listed in the notification of TSPSC group 4.

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