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Time of India
19-07-2025
- Business
- Time of India
RWITC members divided over devpt of clubhouse
Mumbai: Following the much-awaited nod from the BMC to build a multi-storey clubhouse, the 1,800-odd members of the Royal Western India Turf Club (RWITC), who enjoy voting rights, are divided over how to proceed with the proposed development of the new state-of-the-art turf clubhouse at the Mahalaxmi Racecourse. Some members are of the opinion that should there be a proposal to sponsor the construction of the modern clubhouse from Adar Poonawalla , CEO of the Serum Institute of India , as is being rumoured, it should not be accepted. These members said a new membership programme should be unveiled which will provide enough money to achieve the target of a swanky clubhouse. Then there are others who are of the opinion that Adar should be allowed to sponsor the construction while the income generated through the new memberships will add to the coffers of the club. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai "This swelled coffer can be utilised to provide more facilities at more subsidised rates to us," said one member. There are also some who said that apart from accepting Adar's offer, the new membership should be opened in phases. "This way, membership charges can be enhanced on the basis of responses that we get," said one of them. Meanwhile, sources say that Adar's rumoured initial offer to sponsor the construction of the clubhouse on behalf of his father Cyrus Poonawalla , is likely to get shared by his uncle Zavaray Poonawalla who now wants to be part of the legacy that his elder brother's family may wish to leave in the new clubhouse. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You To Read in 2025 Blinkist: Warren Buffett's Reading List Undo According to sources, the RWITC managing committee has received a letter in this regard signed jointly by Adar and Zavaray. TOI tried to reach both Adar and Zavaray for their reaction, but there was no response from either of them. Two years ago, Zavaray's son Yohan had funded nearly Rs 12 crore towards the renovation work of the Pune Turf Club House. Zavaray, the younger brother of Cyrus Poonawalla, had contributed in helping not only the RWITC survive the ill-effects of Covid-19, but he also lent a helping hand to other racing clubs in the country in fighting Covid-induced financial setbacks. He has spent crores of rupees in various forms of sponsorships at other racing clubs in the country over the past six years and continues to do so. Meanwhile, RWITC sources say Cyrus Poonawalla has also now offered Rs 16 crore to sponsor the Indian Derby for the next four years. It is for the first time that the Poonawalla family has decided to associate with the most prestigious race in the country which is run on the first Sunday of Feb every year.
Deccan Herald
07-07-2025
- Health
- Deccan Herald
5% increase in heart attack cases in Karnataka post Covid-19 pandemic
While the government-appointed expert committee has ruled out any correlation between Covid vaccine and sudden heart attacks, the committee opined that Covid-induced lifestyle changes might have increased the risk factors for heart attacks.
Economic Times
26-06-2025
- Business
- Economic Times
PSU Banks' share in CD issuance rises to 69% from 6% in three years
Mumbai: Public sector banks have stepped up issuance of certificates of deposits (CD) since early 2022, leading to their market share zooming from single digit to nearly 70% in three years. ADVERTISEMENT "It has been observed that during the Covid-induced liquidity surplus phase, private banks were frontrunners in issuing the CDs. However, after February 2022, PSBs dominated the share in CD issuance. Foreign banks and relatively new small finance banks have limited presence in the CD market," according to an article published in Reserve Bank of India's June bulletin. Between January 2022 and December 2024, the share of public sector banks in CD issuances rose to 69% from 6%, while that of private banks fell to 30% from 85%. "This contrasts with the general belief that issuance of CDs is dominated by private banks to complement their current and savings account (CASA) deposits," said the article, authored by the RBI staff. Views in the article are those of the authors and do not necessarily represent those of the RBI. Liquidity, interest rate expectation, and volatility determine CD issuance in the long run. Increase in credit advances with lower deposit mobilisation also prompts higher is found to be the major driver of CD issuances in the short run as well. In January-March of 2025, CD issuances had reached an all-time high of ₹3.70 lakh crore, in the backdrop of higher credit demand coupled with deficit liquidity and subdued deposits' tenor of the CD issuance and the weighted average effective interest rate (WAEIR) are tracked to gauge short-term funding dynamics among different categories of commercial banks. ADVERTISEMENT The article said the average tenor of CDs issued by private sector banks is higher at 222 days, implying that they raise funds to not just meet the short-term funding requirements but also for locking in lower interest rates. "PSBs have an average tenor of 155 days, indicating use of CDs mostly as instruments for their short-term funding needs," it said, adding that these banks enjoy lower cost of CD issuance on an average than others. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
26-06-2025
- Business
- Time of India
PSU Banks' share in CD issuance rises to 69% from 6% in three years
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mumbai: Public sector banks have stepped up issuance of certificates of deposits (CD) since early 2022, leading to their market share zooming from single digit to nearly 70% in three years."It has been observed that during the Covid-induced liquidity surplus phase, private banks were frontrunners in issuing the CDs. However, after February 2022, PSBs dominated the share in CD issuance. Foreign banks and relatively new small finance banks have limited presence in the CD market," according to an article published in Reserve Bank of India's June January 2022 and December 2024, the share of public sector banks in CD issuances rose to 69% from 6%, while that of private banks fell to 30% from 85%."This contrasts with the general belief that issuance of CDs is dominated by private banks to complement their current and savings account (CASA) deposits," said the article, authored by the RBI staff. Views in the article are those of the authors and do not necessarily represent those of the RBI. Liquidity, interest rate expectation, and volatility determine CD issuance in the long run. Increase in credit advances with lower deposit mobilisation also prompts higher is found to be the major driver of CD issuances in the short run as well. In January-March of 2025, CD issuances had reached an all-time high of ₹3.70 lakh crore, in the backdrop of higher credit demand coupled with deficit liquidity and subdued deposits' tenor of the CD issuance and the weighted average effective interest rate (WAEIR) are tracked to gauge short-term funding dynamics among different categories of commercial article said the average tenor of CDs issued by private sector banks is higher at 222 days, implying that they raise funds to not just meet the short-term funding requirements but also for locking in lower interest rates. "PSBs have an average tenor of 155 days, indicating use of CDs mostly as instruments for their short-term funding needs," it said, adding that these banks enjoy lower cost of CD issuance on an average than others.
Miami Herald
25-06-2025
- Automotive
- Miami Herald
Former EV high-flyer surges on battery breakthrough
Comebacks hit different on Wall Street. Everyone loves a redemption arc, especially when it's tied to a once high-flying stock. After the Covid-induced stock market boom, the hangover hit hard. Don't miss the move: Subscribe to TheStreet's free daily newsletter Zero rates and stimulus cash effectively pumped everything from EVs to meme stocks. However, once the Fed started hiking and inflation kicked in, the air came out fast. Many speculative names, especially those without profits, took the biggest hits. EV stocks, whether pure plays or pick-and-shovel plays, jumped on hype, future promises, and Tesla's glow, but reality hit hard, and they're still mostly under pressure. One beaten-down EV stock, though, is finally making noise again, thanks to a major step forward in breakthrough battery tech. QuantumScape (QS) stock burst onto the market in late 2020 as one of the most hyped EV pick-and-shovel plays. Related: Tesla's robotaxi rollout runs into trouble Shares began trading at $24.80 after its SPAC merger on November 27, 2020, peaking at $132.73 on December 22 (a whopping 435% gain) before pulling back. Backed by Volkswagen and Bill Gates, QuantumScape promised a major battery breakthrough. By using a solid-state design with a ceramic layer, the company aimed to block dangerous lithium spikes and deliver more power, faster charging, and better safety than liquid-based cells. In other words, you get much more juice in the same space, blazing fast charging, and no overheating. Think of it like swapping your old smartphone charger for a high-powered supercharger; what took half an hour now finishes in 10 minutes flat. Needless to say, it's a massive deal for pushing EVs into the mainstream. However, turning those lab dreams into factory reality was much harder than expected. QuantumScape hit wall after wall due to manufacturing delays, yield issues, and tech hitches. As timelines dragged and cash burned fast, the hype faded. By mid-2022, shares were deep in the single digits, losing more than 80% in value. However, yesterday's development suggests that it could potentially mount a major comeback. More EV Stock News: Struggling EV semiconductor company files for bankruptcyMusk's AI chatbot weighs in on Tesla stock and RobotaxiVeteran Tesla analyst makes boldest robotaxi call yet QuantumScape's next-gen Cobra separator is finally part of its core production line. That marks the first time Cobra's been used in full-speed, high-volume manufacturing, a massive leap in scaling up for gigafactory-level output. Related: Circle stock goes parabolic after Capitol Hill surprise Cobra is built to replace the old Raptor setup, and it's a major upgrade. It quickens heat treatment by 25 times and takes up much less space. That makes production much faster and more compact, which is the boost QuantumScape needs to hit scale and keep its expenses in check. Also, Cobra isn't just quicker; it's a lot smarter, too. Shrinking the footprint and streamlining thermal processing bring QuantumScape closer to building a full-scale, end-to-end battery plant. That sort of progress gives it more street cred with automakers and makes it easier to lock in future deals and funding. Following the development, QuantumScape stock went parabolic. In pre-market trading today, the stock has gained over 43% to open at $6.17. Year-to-date, though, the stock is down 17%. This development could spark a major turnaround. Related: Veteran Wall Street firm makes surprise call on tech stocks The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
