SBI Term Loan: RLLR: 8.15 | 7.25% - 8.45%
Canara Bank: RLLR: 8 | 7.15% - 10%
ICICI Bank: RLLR: -- | 8.5% - 9.65%
Punjab & Sind Bank: RLLR: 7.3 | 7.3% - 10.7%
Bank of Baroda: RLLR: 7.9 | 7.2% - 8.95%
Federal Bank: RLLR: -- | 8.75% - 10%
IndusInd Bank: RLLR: -- | 7.5% - 9.75%
Bank of Maharashtra: RLLR: 8.05 | 7.1% - 9.15%
Yes Bank: RLLR: -- | 7.4% - 10.54%
Karur Vysya Bank: RLLR: 8.8 | 8.5% - 10.65%

Infrastructure

Adani plans to invest Rs 20,000 crores in the Vizhinjam port by the year 2030

19 Oct 2023

Adani Ports has unveiled a monumental Rs 20,000 crore investment in Kerala's Vizhinjam Transhipment Terminal by 2030, signalling a transformative shift in the state's infrastructure. The port's strategic significance lies in its natural depth of over 18 metres, making it ideal for large vessels and reducing reliance on foreign hubs. Adani Ports, a key investor, aims to handle 1 billion tonnes of cargo annually by 2030, aligning with its vision of becoming a global port leader. This initiative not only enhances Kerala's infrastructure but also amplifies India's maritime capabilities, fostering competitiveness on the global trade stage.Read more

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Problems surface with decorative lights in BMC's 1,700 crore beautification project

18 Oct 2023

The BMC’s Rs 1,700 crore Mumbai beautification project faces a setback as decorative lights installed since October 2022 across key areas have begun to malfunction. The decorative lights were installed on the street lights and many of them on prominent roads and flyovers have stopped working. This malfunction is blamed on the street lights' inability to cater to increased power load, unsuitable wiring, and damage from illegal political hoardings. BMC Commissioner Iqbal Singh Chahal assures resolution within two weeks. Critics question the expenditure's priority over essential facilities and advocate FIRs against illegal banners. Others blame improper planning by the BMC and suggest redirecting funds for public services.Read more

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BMC's new water filtration plant to meet Mumbai’s growing water needs

18 Oct 2023

The Brihanmumbai Municipal Corporation (BMC) is planning to address Mumbai's increasing water demand by floating tenders for a new 2,000 MLD filtration plant at Bhandup, supplementing the existing 2,800 MLD units. Mumbai draws water from seven lakes and these filtration plants make the water suitable for human consumption. Of the current infrastructure, the 1,910 MLD unit has almost completed its useful life and would soon be decommissioned. Mumbai faced water cuts due to existing filtration unit malfunctions. P. Velrasu, Additional Municipal Commissioner, cites the rise in demand along with the need to improve capacity as the reason behind the proposal for the Rs 350 crore plant in the civic budget.Read more

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Andhra Pradesh's ambitious 'I-Space Business Park' set to transform Madhurawada

18 Oct 2023

Andhra Pradesh Industrial Infrastructure Corporation (APIIC) plans to establish 'I-Space Business Park' in Madhurawada, covering approximately 19 acres. This business park will focus on IT/ITeS offices, commercial office space, business centres, and various support facilities. Proposed as a public-private partnership on a joint venture basis, the estimated project cost is Rs 2,300 crore. APIIC aims for a 26% stake, with the developer holding the remaining 74%. While Vizag has existing IT/ITeS offices, attracting major IT companies has been a challenge, with past proposals for IT parks in the region seeing limited progress.Read more

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YEIDA set to launch global tender for Aircraft MRO facility at Jewar Airport

18 Oct 2023

The Yamuna Expressway Industrial Development Authority (YEIDA) is set to issue a global tender for the development of an Aircraft Maintenance, Repair, and Overhaul (MRO) facility at the upcoming Noida International Airport in Jewar by the end of October. The MRO facility is part of the airport's second phase, with nearly 60% of the required land already acquired. The land allotment process is expected to commence by year-end. The MRO facility aims to meet the growing demand in India's aviation sector, anticipating a significant increase in the number of passenger aircraft in the coming years.Read more

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Kopri crematorium renovation sparks community protest and concerns

17 Oct 2023

Residents of Kopri, Thane East, are vehemently opposing the construction of a three-story building at a crematorium, claiming it encroaches on the space used for children's final rites. Despite authorities insisting on renovation, the residents, demanding control be handed over to Thane Municipal Corporation, cite inadequate facilities on the grounds. Allegedly, a previous attempt at constructing a prayer hall halted in 2013 due to protests. Concerns include security lapses, with instances of guards being drunk and dogs interfering. TMC asserts the ongoing work aims to enhance cremation efficiency with additional pyres, not build a hall.Read more

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GMR secures INR 4,000 crore loan for Vizag International Airport construction

17 Oct 2023

GMR is securing a INR 4,000-crore loan for the construction of a greenfield international airport in Visakhapatnam (Vizag). Led by India Infrastructure Finance Company (IIFCL), the consortium is providing a 14-year loan with an approximate interest cost of 10%. The Vizag airport, GMR's fourth major airport in India, is planned in three phases, accommodating 6 million passengers initially and scaling to 40 million once fully developed. The airport aims to boost GMR's aviation business and serve as a significant development for northern Andhra Pradesh. The loan involves moratoriums during construction and the initial operational year.Read more

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Himachal Pradesh cabinet approves amendments to Shimla Development Plan

17 Oct 2023

The Himachal Pradesh cabinet has made significant amendments to the Shimla Development Plan, allowing residential construction in specific green belt areas while prioritizing tree conservation. Changes to HP Town and Country Planning Rules permit construction near water bodies, balancing land use and safety. The "Van Mitra" scheme engages communities in forest conservation, and the recruitment of forest guards strengthens conservation efforts. The cabinet also approved a passenger ropeway system, promoted amateur radios for emergency communication, and streamlined traffic regulation enforcement. These decisions signify a comprehensive approach to sustainable urban development, environmental conservation, and community engagement in Himachal Pradesh.Read more

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NGT halts CIDCO development plans in Coastal Regulation Zone (CRZ) area

14 Oct 2023

The National Green Tribunal (NGT) has prohibited CIDCO, the planning authority for Navi Mumbai, from leasing a 25,000 sq.m. plot near the NRI Colony at Seawoods in Nerul for development. This decision follows protests by local residents and activists opposing CIDCO's auction plans for the environmentally sensitive area. NGT's order prohibits construction in Coastal Regulation Zone (CRZ) areas so as to preserve the ecology and habitats, including mangroves and flamingo roosting sites. The ruling allowed designation of a part of the plot for a garden and social facilities.Read more

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Neglected heritage buildings in Margao await much-needed restoration

14 Oct 2023

As the South West monsoons fade, concerns rise in Margao about the neglected heritage buildings awaiting restoration. Iconic structures like the 118-year-old Margao Municipal building have suffered water seepage and decay, prompting temporary fixes. Despite assurances from authorities about renovations, the historical landmarks remain in disrepair. This issue isn't just cosmetic; it's a reflection of neglecting cultural heritage. These buildings are living remnants of history, vital for preserving the community's roots. Urgent action is needed to restore these structures, not just for aesthetics, but to honour the region's rich heritage and educate future generations.Read more

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