Steel Authority of India (SAIL) has signed Memorandum of Understanding (MoU) with global resources company -- BHP to work on strategies for low-emission steel manufacturing technologies. Both companies signed the memorandum of understanding to support decarbonisation in steel making. This collaboration is an important step for SAIL and BHP in promoting lower carbon steelmaking technology pathways for the blast furnace route in India.
International Finance Corporation (IFC), private sector lending arm of the World Bank Group, has tied up with Axis Bank to provide a $500 million (about Rs 4,200 crore) loan to help develop a blue finance market and scale up financing of green projects in India. This is IFC's first blue investment in India and the first blue transaction by a financial institution in the country.
TIL has successfully renewed its Dealer Sales and Service Agreement with Hyster-Yale Asia-Pacific, which will be effective retrospectively from June 1, 2024 for a period of 5 years. This renewal is a continuation of the company’s longstanding partnership aimed at enhancing product offering, service delivery and expanding market reach.
JTEKT India has received approval for setting up of a new factory building and related infrastructure in the State of Gujarat. The new building shall be used for expanding the current production capacity of the company in the existing area of steering/ driveline products. It expects to start the utilization of new infrastructure from F.Y. 2027-28. The investment amount for new Plant Building is Rs 250 crore. The Board of Directors of the Company, at their meeting held on October 7, 2024, has approved the same.
Goa Carbon has resumed operations at Bilaspur Unit located at Sirgitti Industrial Area, Bilaspur, Chhattisgarh. The Kiln has been lit up and the production has been normalized from October 7, 2024.
State Bank of India (SBI) is intending to recruit about 10,000 new employees during the current financial year (FY25) to meet its general banking requirement and foster its technical prowess. The bank has invested significantly in technology to provide seamless customer service as well as to strengthen the resilience of its digital channels. The total staff strength of the bank stood at 2,32,296 as of March 2024. Of this, 1,10,116 officers were on the rolls of the bank at the end of last fiscal.
Tata Motors-owned Jaguar Land Rover has reported a 3 per cent decline in retail sales at 1,03,108 units in the second quarter of the current fiscal as compared to the year-ago period. Retail sales for the first six months of the financial year were at 2,14,288 units, up 3 per cent year-on-year.
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