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Unlock BFSI 2.0: Banking — Capital is the key

Lithium-ion battery recycling and refurbishing firm LICO Materials on Friday announced the inauguration of a battery recycling facility in Bengaluru and said it will invest Rs 250 crore in its downstream hydrometallurgy plant in next two-three years.
The 4 GWh per annum in-feed capacity plant in Bengaluru will address the challenges of securing a stable supply of critical materials and contribute to India's ambition of achieving 30 per cent electric vehicle (EV) adoption by 2030, LICO said.
The company said it aims to scale up capacity at the facility to 10 GWh in the next 3-4 years.
With India's EV industry expected to grow by 250 per cent and energy storage sector to reach 42GW by 2032, recycling of used batteries will play a crucial role in recovering critical minerals to support the battery circular economy, according to the company.
"The new facility marks a significant milestone in our journey to redefine lithium-ion battery recycling and repurposing in India. As we scale up 

With India's EV industry expected to grow by 250 per cent and energy storage sector to reach 42GW by 2032, recycling of used batteries will play a crucial role in recovering critical minerals

The Sri Lankan government wants to see the deep-water container terminal project at the Colombo port go ahead and has no issue with the Adani-led conglomerate using its own resources to fund it, ports minister Bimal Rathnayaka has said.
In an exchange filing late on Tuesday, Adani Ports and SEZ Ltd said the project "is on track for commissioning by early next year" and added that the company will fund the ongoing project through "internal accruals", aligning with its capital management strategy.
It is a very important project for revenue generation for the port, we are keen to see it going ahead," Rathnayaka told reporters during a tour of the port on Thursday.
He said the Adani group's decision to reject funding from the US International Development Finance Corporation (DFC) was its own and Sri Lanka had no issues with it.
The DFC, in November last year, agreed to provide a USD 553 million loan to support the development, construction, and operation of a deep-water container termi

It is a very important project for revenue generation for the port, we are keen to see it going ahead

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As part of its probe into the suicide of engineer Atul Subhash, the Bengaluru City Police on Friday issued a summons to his wife Nikita Singhania and asked her to appear before it within three days.
The 34-year-old techie ended his life on Monday in Bengaluru, alleging harassment at the hands of his estranged wife and her family.
A four-member Bengaluru City Police team led by sub-inspector Sanjeet Kumar arrived at Singhania's residence in the Khowa Mandi area in this Uttar Pradesh district around 11 am and pasted the notice for her summons.
According to Circle Officer (City) Ayush Srivastava, the Bengaluru City Police notice said, "Nikita Singhania to appear before the investigating officer at Marathahalli police station, Bengaluru, within three days for interrogation regarding the circumstances surrounding the death of her husband, Atul Subhash."
The notice, addressed solely to Singhania, did not mention other accused family members, including her mother Nisha Singhania, uncle ..

The 34-year-old techie ended his life on Monday in Bengaluru, alleging harassment at the hands of his estranged wife

Flagging low wages under MGNREGS, a Parliamentary panel has questioned why the remuneration under the flagship scheme was not linked to an inflation index.
It has also urged the Union rural development ministry for devising a mechanism for raising wages under the scheme.
Headed by Congress MP Saptagiri Sankar Ulaka, the Parliamentary Standing Committee on Rural Development and Panchayati Raj, in a report tabled in the Lok Sabha on Thursday, rapped the ministry and said there had been no noticeable change in its stance.
It has been sending "stereotype responses" regarding revision of wages, the report said.
"Rising inflation and cost of living, be it urban or rural setting, has risen manifold and is evident to all. Even at this moment, going by the notified wage rates of MGNREGA (Mahatma Gandhi National Rural Employment Guarantee Act), per day wage rate of around Rs 200 in many states defies any logic when the same state has much higher labour rates," the panel said in its report.


Committee also recommended that the department spruce up its financial management of the scheme and tighten its grip on the fallacies that might have crept up in the implementation of the scheme

Stakeholders from the micro, small and medium enterprises (MSME) sought a reduction in GST, technology upgrade, and production-linked incentive scheme benefits for various segments in a pre-Budget meeting with Finance Minister Nirmala Sitharaman on Saturday.
The meeting aimed to seek inputs and suggestions for the Budget for 2025-26, expected to be presented on February 1.
Members from the Association of Women Entrepreneurs of Karnataka (AWAKE); Karnataka SC and ST Entrepreneurs' Association; Plant-Based Food Industry Association (PBFIA); Ambala Scientific Instruments Manufacturers' Association (ASIMA); Rajasthan Footwear Manufacturers' Association were among the participants at the meeting.
The All-India Plastics Manufacturers' Association; All India Manufacturers' Association; Gujarat Chamber of Small Industries Association; Federation of Associations of Cottage and Small Industries (based in West Bengal); Federation of Andhra Pradesh Small and Medium Association; and Laghu Udyog 

The meeting aimed to seek inputs and suggestions for the Budget for 2025-26, expected to be presented on February 1

Call for reining in food inflation and raising investment in pre-Budget  talks

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Unlock BFSI 2.0: Banking — Capital is the key

In this special Business Standard webinar, where RBI Governor Shaktikanta Das delivers the keynote address, the biggest names in the banking industry discuss the importance of capital in these times

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