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SBI Cards' net profit dips to Rs 556cr in Q1

SBI Cards' net profit dips to Rs 556cr in Q1

Time of India2 days ago
MUMBAI: SBI Cards reported a 6.4% decline in net profit to Rs. 556 crore for the June quarter, compared with Rs. 594 crore a year earlier, as higher impairment losses and bad debts offset revenue growth.
The provisions rose 22.8% YoY to Rs. 1,352 crore.
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No Rafale or F-35! Army Demands Rs 1.12 Lakh Cr Defence System, Gets Only Rs 36,000 Cr
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India.com

time11 minutes ago

  • India.com

No Rafale or F-35! Army Demands Rs 1.12 Lakh Cr Defence System, Gets Only Rs 36,000 Cr

New Delhi: After Operation Sindoor, India's defense upgrades are speeding ahead like a bullet train. With over Rs 3 lakh crore being pumped into military modernisation, the government is on a mission to acquire or indigenously develop fighter jets, submarines and advanced missile systems. One by one, big-ticket purchases are being cleared, and the pace is relentless. Earlier this month, the Ministry of Defence approved military procurements worth over Rs 1 lakh crore in one go. Among them, Rs 44,000 crore has been set aside for 12 Mine Counter Measure Vessels and Rs 36,000 crore has been sanctioned for six regiments of the Quick Reaction Surface-to-Air Missile system, better known as QRSAM. These six QRSAM regiments will be split evenly between the Indian Air Force and the Army. But here is the twist. This is only a fraction of what the armed forces actually asked for. The Army had demanded 11 regiments. What they got was only three. The Air Force's separate demand? Also unmet. If both services were to receive the full complement, 11 regiments each, the total cost would have soared to Rs 1.12 lakh crore. But the government stopped short. Enter the 'Baby S-400' Apart from being a missile defense system, QRSAM is being nicknamed the 'Baby S-400'. India already has three operational regiments of Russia's S-400 system and expects two more by next year. But defense planners know that S-400s and indigenous Akash systems alone cannot transform the country into a secure fortress. The threat matrix has changed. China is watching, and so is Pakistan. And they are not standing still. Operation Sindoor proved India's air defense muscle. But it also exposed gaps, ones that Pakistan tried to exploit through waves of drone incursions, many supplied by Turkey and China. Hundreds were launched. All were neutralised. But the lesson stuck – air defense needs to be multi-layered, relentless and everywhere. That is where the QRSAM fits in. Designed by the Defence Research and Development Organisation (DRDO), it is built to intercept fighters, drones and helicopters within a 30 km radius. Not as long-range as the S-400's 400 km or Akash's 100-200 km reach, but perfect for quick and short-range airspace protection in dense threat environments. More importantly, it's Indian-made, fast, precise and combat-ready. Not Enough for a Fortress At Rs 6,000 crore per regiment, scaling up to the Army's full demand alone would cost Rs 66,000 crore. Add the Air Force's likely mirror request and you are staring at a Rs 1.12 lakh crore bill. Expensive? Yes. But what is the price of making the skies over India completely off-limits to 5th-gen fighter jets, drones, cruise missiles or worse? With full deployment, India's air defense would shift from deterrence to denial. Nothing would be able to breach the perimeter. During Operation Sindoor, India's air defenses held. But in military planning, holding is never enough. The military is not asking for luxury, it is asking for survivability. Against future drone swarms, supersonic fighters or long-range missile salvos, six regiments are just a start. If the government greenlights the remaining 16 regiments, the Army and the Air Force both, it would send a message that India is preparing. And once QRSAM rings the nation's skies, even the birds will need clearance to fly.

Rs 56cr approver for development of Chintpurni Devi temple: Union tourism minister Gajendra Singh Shekhawat
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Time of India

time25 minutes ago

  • Time of India

Rs 56cr approver for development of Chintpurni Devi temple: Union tourism minister Gajendra Singh Shekhawat

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