Tuesday, August 25
New Delhi: Manila-based the Asian Development Bank (ADB) committed USD 4.258 billion in sovereign lending to India in 2025, supporting projects that strengthen the country's skill ecosystem, accelerate renewable energy deployment, transform urban infrastructure, expand metro networks, improve healthcare services, and promote ecotourism. Nearly 32 per cent of ADB's 16 newly committed projects focus on the human and social development sector, followed by 26 per cent in the energy sector -- primarily advancing renewable energy -- and over 18 per cent in urban development, the multilateral development bank said in a statement on Friday. Among these is a USD 846-million financing initiative for PM-SETU, India's flagship skilling programme, which will modernise hundreds of Industrial Training In
Veteran banker Uday Kotak on Thursday welcomed MUFG Bank's move to buy a 20% stake in Shriram Finance but raised a question whether the firm would continue as a non-banking financial company (NBFC) or apply as a bank. He noted that the current NBFC structure offers significant growth potential without the regulatory constraints faced by banks. “Happy to see big-ticket foreign investment in Shriram Finance by Mitsubishi UFJ, a reputed global bank and financial institution. Will Shriram continue as an NBFC, which has huge potential without the regulatory constraints of a banking company, or apply to become a bank in due course?” Kotak said in a tweet on Friday.Shriram Finance's board of directors, at a meeting held today approved entering into definitive agreements with MUFG Bank for an
A man who is suspected of killing two and wounding several others at Brown University has been found dead in a New Hampshire storage facility, a law enforcement official and a person familiar with the matter told The Associated Press.The man was found dead Thursday evening. He is believed to have died from a self-inflicted gunshot wound, the person familiar with the matter said.Investigators believe the man is responsible for both the shooting at Brown and the killing of a Massachusetts Institute of Technology professor who was fatally shot in his Brookline home Monday, the official said. Authorities have not formally confirmed a connection between the two shootings.The official and the person familiar with the matter could not publicly discuss details of the ongoing investigation and both
Mumbai: E-commerce marketplace Meesho's market capitalisation crossed the ₹1 lakh crore mark on Thursday, within seven sessions of its listing Shares of the company ended 8.2% higher at ₹234 on Thursday, after rallying 20%--the day's highest tradeable limit--the previous day. Meesho's market capitalisation was at ₹1,05,607 crore on Thursday, up 37% from ₹76,926 crore on December 10, the day of its listing. Brokerage UBS on Wednesday initiated coverage on Meesho with a 'Buy' rating and a 12-month price target of ₹220 per share. UBS' note said that Meesho's focus on lower and middle-income consumers in India's Tier 2 and 3 cities provides a growth runway as online adoption accelerates among these consumers. "The company's asset-light, negative working capital business model has als
