logo
CM asks officials to expedite metro rail project work

CM asks officials to expedite metro rail project work

Time of India11-06-2025
Patna: Chief minister
Nitish Kumar
on Wednesday inspected the ongoing construction work on the Patna Metro Rail Project at Malahi Pakadi and Bhootnath metro stations and asked the officials to expedite work.
The secretary of urban development and housing department (UDHD), Abhay Kumar Singh, gave detailed information to the CM regarding the progress and updated status of the construction work on the priority corridor (Malahi Pakadi to Pataliputra bus terminal) as the target is to start this line by Aug 15.
Abhay informed the CM that the target is to complete the construction work on the total 6.20 km from Malahi Pakadi to Khemnichak, Bhootnath road, Zero Mile, Pataliputra bus terminal on priority basis.
The state govt has provided Rs 115.10 crore for its operation.
The UDHD secretary also apprised Nitish about the escalator, ticket counter, passenger facility, public area, paid area, lift, path to the platform and other necessary facilities to be provided at Malahi Pakadi metro station.
The CM directed the officials to expedite the construction work. "We have been continuously inspecting its construction works and instructed the officials to ensure its completion on time so that people have convenience in commuting," the CM said.
UDHD minister Jibesh Kumar; principal secretary to the CM, Deepak Kumar; secretary to the CM, Kumar Ravi; Patna commissioner Chandrashekhar Singh; DM Thiyagarajan SM; SSP Avkash Kumar and other senior officials of Delhi Metro Rail Corporation and Patna Metro Rail Project were present on the occasion.
Patna: Chief minister Nitish Kumar on Wednesday inspected the ongoing construction work on the Patna Metro Rail Project at Malahi Pakadi and Bhootnath metro stations and asked the officials to expedite work.
The secretary of urban development and housing department (UDHD), Abhay Kumar Singh, gave detailed information to the CM regarding the progress and updated status of the construction work on the priority corridor (Malahi Pakadi to Pataliputra bus terminal) as the target is to start this line by Aug 15.
Abhay informed the CM that the target is to complete the construction work on the total 6.20 km from Malahi Pakadi to Khemnichak, Bhootnath road, Zero Mile, Pataliputra bus terminal on priority basis.
The state govt has provided Rs 115.10 crore for its operation.
The UDHD secretary also apprised Nitish about the escalator, ticket counter, passenger facility, public area, paid area, lift, path to the platform and other necessary facilities to be provided at Malahi Pakadi metro station.
The CM directed the officials to expedite the construction work. "We have been continuously inspecting its construction works and instructed the officials to ensure its completion on time so that people have convenience in commuting," the CM said.
UDHD minister Jibesh Kumar; principal secretary to the CM, Deepak Kumar; secretary to the CM, Kumar Ravi; Patna commissioner Chandrashekhar Singh; DM Thiyagarajan SM; SSP Avkash Kumar and other senior officials of Delhi Metro Rail Corporation and Patna Metro Rail Project were present on the occasion.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Jane Street slams Sebi allegations, plans to contest ban and impounding order
Jane Street slams Sebi allegations, plans to contest ban and impounding order

Indian Express

time39 minutes ago

  • Indian Express

Jane Street slams Sebi allegations, plans to contest ban and impounding order

New York-based global proprietary trading firm Jane Street has strongly criticised India's market regulator Sebi over its recent enforcement action, calling the accusations 'extremely inflammatory' and stating it is 'beyond disappointed' by the order. The firm, which is among the largest players on Wall Street, said in a mail to its employees that it is preparing a formal response to the Securities and Exchange Board of India's (Sebi) decision, which includes a ban on the firm's market participation and an order to impound Rs 4,843 crore in what the regulator described as 'unlawful gains'. Jane Street rejected the market watchdog's charge that it was involved in 'an intentional, well planned, and sinister scheme' to manipulate Indian markets through its derivatives trades, especially in Nifty Index futures. The firm asserted it would contest the order through appropriate legal channels. In a memo sent to its roughly 3,000 employees on Sunday and reported by the Financial Times newspaper, Jane Street said, 'it's deeply upsetting to see the firm mischaracterised this way.' 'We take pride in the role we serve in markets around the world, and it's painful to have our firm's reputation tarnished by a report based on so many erroneous or unsupported assertions,' the memo said. Jane Street is yet to respond to a mail about the Sebi allegations sent by The Indian Express. Last week, the market regulator granted Jane Street 21 days to file an objection to its order and request a hearing. Jane Street, one of the most prominent and successful proprietary trading firms to emerge in the past two decades, has grown into a major force across global financial markets. In its internal memo, Jane Street criticised Sebi for relying on 'a metric for market impact and trading aggressiveness which seems disconnected from actual market dynamics.' The firm argued that its trading activity on January 17, 2024 — one of the days singled out in Sebi's report — reflected routine 'basic arbitrage trading,' a widely accepted strategy in the industry. Jane Street has sharply contested Sebi's claim that it disregarded concerns raised by the National Stock Exchange (NSE), an allegation the regulator used to justify its sudden and unprecedented ban on the firm's trading operations in India. In the internal memo, Jane Street described the charge as 'especially far from reality,' stating that it had promptly halted its trading activity at the time to better understand the exchange's concerns. The firm added that it subsequently adjusted its strategies to align with the NSE's stated preferences. 'Once again, we left this process feeling that we had reached an understanding of the concerns and reflected them in modifications to our trading behaviour,' the memo said. 'Since February, we have made ongoing efforts to communicate with Sebi and have been consistently rebuffed.' According to the FT report, the US firm nearly doubled its net trading revenues to $20.5 billion last year, outpacing several of Wall Street's biggest banks. In the first quarter of 2025, Jane Street notched up net trading revenues of $7.2 billion, more than Morgan Stanley. 'Sebi's investigation was triggered by revelations from a lawsuit launched by Jane Street last year against Millennium Management and two former traders that had moved to the hedge fund. Jane Street's complaint alleged that the traders had stolen a hugely valuable trading strategy, which was later revealed to revolve around Indian options trading,' FT report said. According to the regulator's findings, Jane Street's trades, particularly in Nifty index futures, showed a clear pattern. The firm wasn't trading passively or reacting to the market — it was nudging prices upward, consistently placing orders at or above the last traded price (LTP). This pattern intensified in the final hours of trading, a critical window that often shapes the day's closing price. Sebi described it as a 'non-neutral trading behaviour', a strategic attempt to influence prices rather than simply engage with the market. And the tactic wasn't random; it followed a well-known play in the trading world: 'marking the close.' Jane Street, regulators say, was executing what's known as an extended 'marking the close' strategy — placing large and aggressive buy or sell orders near the end of the trading session, with the intention of artificially moving the closing price of a stock or index. The closing price is critical, especially on derivatives expiry days, as it determines the settlement value for futures and options contracts.

CM Revanth Reddy seeks Rs 100 crore Centre grant to boost sports infrastructure in Telangana; eyes hosting 2036 Olympic events
CM Revanth Reddy seeks Rs 100 crore Centre grant to boost sports infrastructure in Telangana; eyes hosting 2036 Olympic events

Time of India

time42 minutes ago

  • Time of India

CM Revanth Reddy seeks Rs 100 crore Centre grant to boost sports infrastructure in Telangana; eyes hosting 2036 Olympic events

HYDERABAD: Chief minister A Revanth Reddy Monday met Union sports and youth affairs minister Mansukh L Mandaviya in Delhi and sought Rs 100 crore for developing world-class sports infrastructure in Telangana. He also requested the revival of train fare concessions for athletes and pressed for Telangana to be considered as a host for at least two disciplines of the 2036 Olympics, should India win the bid for the event. The CM, accompanied by party MPs and senior officials, called on the Union minister at his official residence. During the meeting, Revanth outlined Telangana's readiness and potential to host national, international tournaments, and the Khelo India Games in 2026, and emphasised the state's serious intent to become a sporting hub. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad He urged the Centre to support Telangana in developing the necessary infrastructure, particularly through the Khelo India scheme, which could provide funds for athlete training, expert selection, and facility development. "The Telangana govt is already investing heavily to improve sports infrastructure. The Centre must extend full support. Telangana is ready to host the Khelo India Games in 2026 and at least two Olympic disciplines in 2036. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Book Now And Save up to ₹23.71L on Luxury Homes in Whitefield Sumadhura Group Learn More Undo Also, please revive the train ticket fare concessions for athletes participating in national competitions, which were in place earlier," Revanth told Mandaviya. Kapil Dev meets CM, backs state's sporting vision Hyderabad: Former Indian captain Kapil Dev met CM Revanth Reddy at the latter's official residence in Delhi on Monday. He expressed strong interest in partnering with the Telangana govt's vision to transform the state's sports ecosystem. Kapil lauded the state's efforts under Revanth's leadership and was briefed about the upcoming Young India Sports University, as well as initiatives for sports infrastructure and talent development. According to the CMO, Kapil Dev assured the chief minister of his support in making the proposed university a success and contributing to wider efforts aimed at nurturing future sporting talent. Devgn meets CM to set up world-class film studio Ajay Devgn also met chief minister A Revanth Reddy at his official residence in New Delhi on Monday and expressed interest in establishing a world-class film studio in Telangana. The actor proposed the development of a film studio equipped with animation, VFX and AI-powered smart studios. He also expressed willingness to set up a skill development institute to train professionals in domains. He shared his vision of contributing to the growth of the film ecosystem by bringing in global expertise. Devgn assured that he would act as a brand ambassador in promoting "Rising Telangana" through cinema and media, the CMO said.

Thermal power expansion: Adani Power acquires VIPL for Rs 4,000 crore; capacity hits 18,150 MW
Thermal power expansion: Adani Power acquires VIPL for Rs 4,000 crore; capacity hits 18,150 MW

Time of India

time42 minutes ago

  • Time of India

Thermal power expansion: Adani Power acquires VIPL for Rs 4,000 crore; capacity hits 18,150 MW

Adani Power acquires VIPL Adani Power Ltd (APL), India's largest private thermal power producer, has completed the acquisition of Vidarbha Industries Power Ltd. (VIPL) for Rs 4,000 crore, further cementing its dominance in the base-load power generation sector. The resolution plan was approved by the National Company Law Tribunal (NCLT), Mumbai Bench, on June 18 and successfully implemented on Monday. As per ANI, VIPL is a 2x300 MW coal-based power plant located at Butibori in Nagpur district, Maharashtra. The plant had been undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC) prior to this acquisition. Following this addition, Adani Power's total operating capacity has reached 18,150 MW. The company now plans to significantly expand this figure through a combination of brownfield and greenfield ultra-supercritical power projects across the country. APL is currently constructing six brownfield Ultra-supercritical Thermal Power Plants (USCTPP), each of 1,600 MW capacity, across its existing facilities in Singrauli-Mahan (Madhya Pradesh), Raipur, Raigarh, and Korba (Chhattisgarh), and Kawai (Rajasthan). A separate greenfield USCTPP of 1,600 MW is also being developed at Mirzapur in Uttar Pradesh. Additionally, construction of a 1,320 MW Supercritical power plant at Korba, previously acquired by Adani Power, is being revived. With all these projects, APL is targeting to scale up its base-load generation portfolio to 30,670 MW by 2030. Commenting on the development, SB Khyalia, CEO of Adani Power, was quoted as saying by ANI, 'The acquisition of VIPL is a key milestone in Adani Power's strategy to unlock value through the turnaround of stressed assets. As we continue expanding our portfolio, we remain committed to supporting India's vision of 'Electricity for All' by delivering reliable, affordable base-load power that fuels the country's sustainable growth. ' Adani Power operates thermal plants across Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and Tamil Nadu. The company also runs a 40 MW solar power plant in Gujarat, contributing to its growing diversification in energy generation. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store