Latest news with #SridharBabu
Hans India
2 days ago
- Business
- Hans India
Cooperative banks play a pivotal role in economy, says Sridhar Babu
Hyderabad: IT and Industries Minister D Sridhar Babu emphasised that cooperative banks in Telangana operate not for profit, but to serve community interests. He said that they follow the CARE model (Community-focused, Affordable & Accessible Credit, Relationship-based banking, Empowering Local Entrepreneurs). While formally inaugurating the Agrasen Bank's Ameerpet branch on Sunday, the Minister said that in support of this sector, the State Government has adopted the P.A.T.H. Framework: Policy Support, Access to Digital Tools, Training & Capacity Building and Hybrid Finance Ecosystems. 'This initiative promotes schemes such as self-employment loans for youth and underprivileged communities, financial linkages for women's self-help groups, and green loans,' he explained. The Minister said that there was a time when banks were merely associated with deposits and withdrawals. However, that definition has significantly evolved. 'Today, banks are leveraging technology to meet the changing needs and aspirations of customers, offering a wide range of services. Cooperative banks, in particular, have emerged as crucial institutions in the economic landscape—especially in delivering financial services to marginalized sections of society. According to the RBI Annual Report 2024, over 85 million citizens across the country now use cooperative banking services. The total deposits and advances in this sector have surpassed`5.5 lakh crore,' the Sridhar Babu highlighted. 'There are 48 Urban Cooperative Banks in Telangana, operating through 321 branches across urban and semi-urban regions. Their total business turnover for the previous financial year stood at Rs 17,000 crore, with a credit-deposit ratio of 66.7%. Branches in Kukatpally, Malakpet, and Ameerpet remain particularly active,' he added.
New Indian Express
3 days ago
- Business
- New Indian Express
Hyderabad emerging as a global legal tech hub: IT minister Sridhar Babu
HYDERABAD: Hyderabad is rapidly evolving into a global hub for legal technology, significantly enhancing the global presence of the Telangana brand, said IT and Industries Minister Duddilla Sridhar Babu. He was speaking at the valedictory session of 'The Grand Masters 2025 - Hyderabad Edition', organised by Lex Witness at Novotel HICC. Speaking on the occasion, he said, 'My professional journey began as a lawyer and later, due to unforeseen circumstances, I entered politics. Over time, the judicial system has undergone considerable transformation, particularly with the adoption of technology. Today, tools such as AI-driven legal research, virtual courtrooms, real-time case tracking, and e-filing have become integral components of legal processes.' He said that lawyers are not merely officers of the court, but are sculptors of equality and custodians of the rights guaranteed by the Constitution. 'Modern-day lawyers are not just legal experts — they have emerged as business enablers, compliance navigators, and tech-integrated advisors. According to the NASSCOM Legal Tech Report 2025, nearly 63% of large Indian enterprises are relying on AI and automation for their legal operations,' the minister said. He added that Hyderabad is home to over 120 legal tech startups working on innovative solutions in areas such as e-discovery, dispute analytics, and virtual IPR platforms. The IT Minister expressed concern over the staggering backlog of cases in the Indian judiciary. 'As of December last year, over 5.1 crore cases were pending across India, with district courts alone accounting for 4.5 crore. Telangana too has over 10 lakh pending cases. Justice delayed is justice denied, and this reality demands urgent attention,' Sridhar Babu remarked. 'Legal practice should not be pursued solely as a means of livelihood, but as a social responsibility. Lawyers must develop the ability to resolve complex issues in tune with the changing landscape. Your true client is not just the person or entity that hires you, but the entire legal ecosystem,' the minister added.
Hans India
3 days ago
- Business
- Hans India
Hyderabad fast emerging as global legal tech hub: Sridhar Babu
Hyderabad: IT & Industries Minister Duddilla Sridhar Babu said on Saturday that Hyderabad was fast emerging as a legal tech hub. Speaking at the closing ceremony of The Grand Master 2025 - Hyderabad Edition, organized by Lex Witness in the city, Sridhar Babu recalled his roots as a lawyer and emphasized that the legal system had undergone significant transformation, with technology playing a pivotal role in legal processes. The minister noted that the rise of AI-based legal research, virtual courtrooms, real-time case tracking, and e-filing, describing them as the hallmarks of a modernized justice system. 'Lawyers are no longer just court officers - they are architects of equality, guardians of rights,' Sridhar Babu stated, calling on legal professionals to embrace their constitutional responsibilities. Citing the Nasscom Legal Tech Report 2025, the minister pointed out that 63 percent of large Indian companies implemented AI and automation in legal administration. 'Over 120 legal tech startups in Hyderabad are innovating in domains such as e-discovery, dispute analytics, and virtual platforms for intellectual property rights, further cementing the city's growing tech footprint in the legal sector,' he said. On judicial backlog, Sridhar Babu expressed concern over more than 5.15 crore pending cases nationwide, with 4.56 crore in district courts and over 10 lakhs in Telangana alone. 'Justice delayed is justice denied,' he said, stressing the importance of tech-driven solutions to improve judicial efficiency. The minister urged young lawyers not to view law merely as a profession but as a service to society. 'A real client is not only the person who hires you -it is also the system that relies on you. According to the Constitution's preamble, you must uphold social, economic, and political justice,' he pointed out, adding that legal practitioners must cultivate problem-solving skills aligned with evolving societal needs. The program saw participation from Lex Witness representatives Abhijit and Srinivas, as well as legal heads of prominent companies. Sridhar Babu concluded with a call for continuous adaptation and ethical commitment among legal professionals, reinforcing Hyderabad's emerging role as a national leader in legal tech innovation.
New Indian Express
4 days ago
- Business
- New Indian Express
Telangana govt will partner with Estonia to digitise health records: Sridhar
HYDERABAD: Telangana will collaborate with Estonia, a globally recognised pioneer in digital governance and healthcare digitisation, to strengthen its own efforts in e-governance and digital public service delivery. IT and Industries Minister Duddilla Sridhar Babu announced this after meeting Estonia's Ambassador to India, Marje Luup, and a high-level trade delegation at the Secretariat on Friday. Commending Estonia for achieving 100% digitisation of health records and for its advanced digital infrastructure, Sridhar Babu said that Telangana seeks to draw upon Estonia's experience and technical expertise. 'Estonia's success in e-governance and digital health is truly inspiring. Telangana, which is still in the early stages of health data digitisation, aims to partner with Estonia to accelerate progress in this domain,' the minister stated. The Estonian delegation comprised experts and representatives from sectors such as information and communication technology (ICT), artificial intelligence (AI), robotics, and healthcare. Discussions explored mutual interests and potential areas of collaboration, particularly in public service reforms and emerging technologies. 'E-governance plays a vital role in delivering transparent and efficient public services. Estonia's collaboration can be instrumental in enhancing our systems,' said Sridhar Babu. He also underlined the growing significance of cybersecurity, stating, 'As we digitise services, safeguarding them becomes equally critical. Cybersecurity is an area where mutual cooperation with Estonia is essential.' Speaking on the state's technological capabilities, the minister noted Telangana's remarkable growth in drone development. 'Drones manufactured in Hyderabad have demonstrated their strategic value recently in conflicts, including in operations against Pakistan. Future conflicts will be defined by drone warfare and cyberattacks,' he observed. Sridhar Babu also highlighted Telangana's leadership in sectors such as food processing and premium liquor manufacturing and proposed further cooperation with Estonia in these industries as well. Responding positively to Ambassador Luup's invitation, the minister confirmed that a delegation of senior officials from Telangana will travel to Estonia.
Hans India
4 days ago
- Business
- Hans India
Sridhar urges Taiwanese to invest in TG's booming textile sector
Hyderabad: Telangana's Industries and IT Minister, D Sridhar Babu, has extended a cordial invitation to Taiwanese industrialists, urging them to invest in the state's burgeoning textile sector and become integral stakeholders in the 'Rising Telangana' narrative. Highlighting the abundant opportunities available in Telangana compared to other Indian states, the Minister underscored the state's rapid emergence as a formidable player in the textile industry. On Friday, a high-level Taiwanese textile delegation, comprising 11 members and led by Justin Huang, President of the Taiwan Textile Federation (TTF), paid a courtesy visit to the Minister at Dr. B.R. Ambedkar Telangana Secretariat. 'Within a short span, Telangana has made significant strides in the textile sector, positioning itself on par with other leading states,' the Minister stated. He noted that the Gross State Value Added (GSVA) from industries for 2024-25 stands at Rs 2.77 lakh crore, with textiles playing a key role. 'Telangana produces some of the finest quality cotton in India,' he added. Sridhar Babu emphasised that the Kakatiya Mega Textile Park (KMTP), developed with special focus by the state government, has become a 'game-changer.' He explained that KMTP offers integrated, world-class infrastructure — from ginning, spinning, weaving, and processing to garmenting — all in one place. 'Leading companies like Youngone, Kitex, and Ganesha Ecosphere have already invested here,' he confirmed. The park is strategically connected to the Hyderabad–Nagpur–Vijayawada Industrial Corridor and benefits from excellent logistics and transport infrastructure. He pointed out vast opportunities for investment in areas like functional textiles, eco-friendly dyeing, and textile recycling. The Minister also assured the visiting delegation of the Telangana Government's commitment to driving industrial growth through global partnerships. 'We offer customised land parcels, plug-and-play facilities, a skilled workforce, effective leadership, a stable government, and strategic geographic advantage,' he stated. He further noted that sectors such as technical textiles, ESDM (Electronics System Design & Manufacturing), sustainable manufacturing, innovation, and R&D are ideal for collaboration with Taiwanese enterprises. Minister Sridhar Babu also proposed that, should Taiwanese investors come forward, the government would explore setting up a dedicated Telangana–Taiwan Manufacturing Zone and exclusive Textile Clusters. He reaffirmed Telangana's readiness to work closely with the Taiwan Textile Federation for the sector's growth.
