Monday, March 16
Singapore: Sweden's SAAB has proposed to the Indian Government the creation of the world's most advanced aerospace industry, comprising multi-layered design, production and maintenance as well as induction of fighter jet Gripen E."In our engagements with the Government of India, we have proposed the creation of the world's most advanced aerospace industry, comprising multi-layered design, production and maintenance," said Mikael Franzen, Chief Marketing Officer, Gripen, and Vice President of Business Area Aeronautics at the Swedish group.He pointed out that Gripen E is the most modern and cost-effective fighter jet system on the market and could significantly improve Air Power within the Indian Air Force, with world leading sensor and networking capability."The highest availability of any
Shares of Power Finance Corporation (PFC) fell 1.5% to Rs 413.55, while REC declined 3.5% to Rs 357 during Monday's trading session following PFC’s board approval of an in-principle merger with REC. The merger move aligns with the Union Budget’s proposal to restructure two of India’s largest public sector non-banking financial companies (NBFCs) in the power financing sector.PFC already holds a 52.63% stake in REC, following its acquisition of the government’s holding earlier. In a regulatory filing, PFC said its board noted the government’s proposal to merge the two entities to achieve scale, improve operational efficiency, and enhance credit flow to the power sector.Finance Minister Nirmala Sitharaman, in her Budget speech on February 1, proposed restructuring PFC and REC to str
