#PFI News

[fmarkets]

2. Market Skepticism and Share Price Fluctuations: The Ongoing Challenges Facing Peoples Financial Services Corp https://csimarket.com/stocks/news.php?code=PFIS&date=2024-03-16094027&utm_source=dlvr.it&utm_medium=tumblr

[journeythroughlifesblog]

'Help' AU Chapter 12.

Next day. DBK Palace. Throne Hall.

Guain and Nezha have arrived. Wukong and Macaque stand in front of them.

''Have you thought about it? Have you changed your mind?” asked Nezha.

''Yes. I agree.” Wukong replied.

''You could do that before. We'll deliver a message to the Emperor. Of course, you understand that the gods will be watching?”

''Yes. I am aware of this. Also, warn them that they will be witnessing my fight against DBK."

"This DBK will not go voluntarily?"

''NO. He agreed to it if I beat him in a fight."

"But you shouldn't fight like this..." the goddess said.

''Never mind. I want peace from the kingdom of heaven, so I have to fight for it."

''Okay, we'll pass it on. How are you feeling today?” Guain said.

Wukong eyed her suspiciously. ''It's much better than yesterday. As you can see, I can stand on my feet."

“And when are you going to seal the DBK?” asked the prince.

''Tomorrow. I still need to get ready.. if that's all, you can go to the Emperor now," Wukong said ironically.

“Okay, but remember we are not your enemies.” Guain said.

"that I will see," said the king, and watched them go.

The monkeys went to the main lounge, where PIF and DBK were already there, and Red Son, who was sleeping in his father's arms. DBK watched as his son was sleeping sweetly.

“What if it fails?” DBK asked.

"It's got to work," she told PIF. "Have you told those gods you're going to fight?"

"Yes," replied Wukong.

"Don't you think it would be better to send a clone or me?" said the warrior.

The king sat down in the armchair.

"You said it yourself, it has to look real." Said the king.

''Yes but..''

''They must see me or they will suspect something. News of my illness will spread quickly throughout the kingdom of heaven. They probably already know what state I'm in, so if it's going to work, it has to be me."

"I understand," said the warrior sadly. He stood by the huge window and looked out at the vast land of demons.

''If it's all over, then what? My husband can't live in the shadows forever. there are people in the castle who would like to take over the power of my beloved.'' Said PIF sipping his tea.

Silence fell.

''What if after some time, for example, when Red Son is an adult, he raises the staff? Then DBK will be able to come back and show your strength.” Said the warrior.

“But how will our son be able to do that?” asked PIF.

''I will help him. That is my staff. I know how much energy and strength it takes to lift it.” Wukong spoke up.

"This will give DBK notoriety among the demons and no one will want to take the throne away," said the warrior.

''All right. But what will be his motivation? After all, I will be with him.'' Said DBK.

''The motivation will be to gain publicity for you so you can return to the world. This will be his goal. You just need to direct it well and it will work.'' Said the warrior.

''but how long will it last? You know very well that coming of age in the demon world is different than in humans. Time is counted differently here.'' Said PIF.

“Yes, it can be a problem waiting for a big comeback for centuries,” said Wukong.

''It's okay, I'll wait. The important thing is that the Emperor will finally let you go, brother,” said DBK.

They fell silent again. PIF saw that Macaque looked very worried about something. She approached him.

"What's bothering you?" she asked.

''Nothing..''

''Nothing? Definitely?''

The warrior turned from the window and looked at his king, who crouched closer to DBK.

"I'm not sure if Wukong can handle the fight..."

"You can't know anything with 100 percent."

''hah..'' the warrior chuckled.

''But I personally believe that it will work.''

The warrior walked closer to DBK and Wkong. PFI did just that. They sat in opposite armchairs.

''All right. I think it's time to review the plan." Said the warrior. Everyone focused.

''Tomorrow. Exactly at noon, you'll have to put on a show. I don't know what gods will be watching this, but me and PIF will. We'll stay out of the way.'' PIF nodded to the fighter. ''You will fight. Just please, Wukong, try not to get angry. You know what's in store for you.'' He looked at the king, who laughed nervously.'' And you, DBK, try not to use your full power.''

"Yes, I understand," said DBK.

Red Son sneezed cutely and everyone looked at him in awe, especially Wukong and DBK.

''Going back. Wukong you will have to pick up the top of the nearby mountain and throw it where the DBK will be, when the mountain is falling I will use the shadow portal to quickly transport the DBK to the castle. Where PIF will be waiting for you. We'll have to deal with the servants."

''I will definitely lay off half the servants. I will try to limit the influence on the castle so that no one even knows what is going on in it.'' She told PIF.

"Good," said the warrior. "If anything goes wrong, I'll transport you here right away." Everyone nodded. They sat for a while in the main living room and then the monkeys went to their chamber.

They sat on the bed.

“Are you sure you can hold on during the fight?” Macaque asked.

“Oh.. how many times do I have to tell you yes.” The king replied. "Could you bring me some armor from above?"

''It's heavy''

"Yes, but I have to represent myself in this show"

"Who would have thought you'd enjoy performing so much?" said the warrior with a sly smile.

"You know what....  it doesn't matter" the king blushed. The warrior approached him and kissed him on the cheek, which made the king blush even more. They stared at each other straight in the eyes for a moment. The warrior said ''at least sleep. Tomorrow is a big day.''

"I thought you were going to tell me something more cute," the king pouted.

"I will  after this..haha" the warrior quietly laughed and lay down. The king cuddled up to him and they fell asleep.

[tundrakatiebean]

I was tagged by the lovely @sad-n-subbyy

Last song:

I am actively listening to music rn lol so it could have been any Coheed or PFI song

Last Show: The Haunting of Hill House (2018)

Last Movie: Elvira Mistress of the Dark (1988)

Currently watching: nothing exactly at the moment but I’m doing a thing where I try to watch more things I haven’t seen before this year. If you look at the “Katie does new media 2k23” tag there’s a list in there. I think I may start Veronica Mars tonight

Currently Reading: Your Brain’s Not Broken by Dr Tamara Rosier and re-reading A Ballad of Songbirds and Snakes by Suzanne Collins when I don’t feel like being aggressively called out by the first book lol

Current Obsession: I don’t know that I’d call it obsession but I’m enjoying making progress on my Advent Book project right now

Tagging: @mrdreadful @hesitating-anxious-aliens @ghostsinthecellar @alltheoutsinfreeeee and anybody else who would like to do it!

[trustsnew]

A senior Labour backbencher is seeking to have liabilities from schools and hospitals built under private finance initiative (PFI) deals scrutinised under a new budget responsibility bill.Stella Creas...

[starfriday]

REC signs MoU with JNPA for financing Rs. 45,000 Cr

REC Limited, Maharatna PSU under Ministry of Power and a leading NBFC, signed an MoU with Jawaharlal Nehru Port Authority (JNPA) for financing upto Rs. 45,000 Cr for various upcoming projects of JNPA, which includes development of Vadhavan Port.

Shri Rahul Dwivedi, IAS, Executive Director, REC signed the MoU with Shri Unmesh Sharad Wagh, Chairman, JNPA.

MoU was signed in the presence of Shri Sarbananda Sonowal, Hon’ble Union Minister for Ports, Shipping and Waterways.

Shri Sanjay Sethi, IAS, Additional Chief Secretary (Transport and Ports), Government of Maharashtra and other senior officials from REC & JNPA were also present.

This MoU is to establish a framework for cooperation between JNPA and REC whereby JNPA implements projects in the infrastructure sector of its expertise and REC shall provide the required funds.

JNPA is an undertaking of Government of India, and is a premier container handling Port, accounting for around 50% of the total containerized cargo volume, across the major ports of India.

ABOUT REC LIMITED

REC is a 'Maharatna' company under the administrative control of the Ministry of Power, Government of India, and is registered with RBI as Non-Banking Finance Company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC). REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pump Storage projects, Green Hydrogen, Green Ammonia projects etc. More recently REC Limited has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc.

REC Limited provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country. REC Limited continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), National Electricity Fund (NEF) Scheme which resulted in strengthening of last mile distribution system, 100% village electrification and household electrification in the country. REC has also been made the nodal agency for certain States and Union Territories for the Revamped Distribution Sector Scheme (RDSS). REC has also been given the responsibility of PM Surya Ghar Muft Bijli Yojna from Central Government. The loan book of REC stands at ₹ 5.30 lakh crore and Net Worth at Rs. ₹ 72,351 crore as on 30th June, 2024.

[currentmediasstuff]

Priyanka Chigurupati – Leading Granules India Forward

Priyanka Chigurupati, a dynamic second-generation entrepreneur, is propelling her family’s pharmaceutical business, Granules India, into new heights. Starting her journey with Granules India as a marketing manager for a region-specific division, she quickly rose to oversee a new API facility and establish the US team for Granules Inc.

Early Life and Education

Priyanka’s path to the pharmaceutical industry was not initially clear. After earning a Bachelor of Science in Business Management from Case Western Reserve University in Cleveland, Ohio, she pursued her passion for fashion by obtaining an associate degree in Applied Science (Fashion Marketing) from Parsons, the New School of Design. She launched her fashion label, Chigurupati, designing Western and Indo-Western apparel for young women and retailing through e-commerce platforms, which was a novel approach at the time.

Entering the Family Business

In 2012, Priyanka was invited to join Granules India, the family-owned pharmaceutical company with operations in Hyderabad and the US. Granules India Ltd. is a vertically integrated pharmaceutical company focusing on R&D and multi-product delivery, including the manufacture of Active Pharmaceutical Ingredients (APIs), Pharmaceutical Formulation Intermediates (PFIs), and Finished Dosages (FDs). Reflecting on her decision, Priyanka says, “I joined the family business of pharmaceuticals after pondering on what to do post my education in the US.”

Starting as a marketing manager, Priyanka embraced a collaborative approach, valuing collective decision-making over unilateral actions. This philosophy not only facilitated her learning but also instilled the confidence to influence organizational strategy, shifting the company’s focus towards manufacturing excellence.

Career Progression and Achievements

After a brief sabbatical, Priyanka returned to Granules India to manage a newly acquired API facility and subsequently relocated to the US. There, she drove the over-the-counter division as a project manager, later expanding her responsibilities to the prescription side of the business, which posed a new set of challenges due to the company’s limited R&D emphasis at the time. Her efforts culminated in her appointment as Executive Director of Granules Pharmaceuticals Inc. (GPI), where she oversaw the global business front-end, achieving 30+ abbreviated new drug application (ANDA) filings and their commercialization.

Currently, Priyanka leads the entire US generics business, which generates 50% of Granules’ overall revenues. She also manages the company’s portfolio and spearheads investor relations. Under her leadership, Granules has thrived in the competitive US generics market, maintaining a strong presence even as other Indian drug makers retreated from highly commoditized molecules like Paracetamol and Ibuprofen.

Expanding Horizons

Granules is actively expanding its operations, including setting up a new Multi-Unit Pellet System (MUPS) block in Telangana and an API block for medium to high-volume products. Internationally, the company is making inroads into Europe and enhancing its US market share. The company has seen significant growth, with consolidated revenue reaching Rs 2,598.65 crore in FY 19–20 and continued growth during the pandemic, driven by its essential services designation and commitment to uninterrupted medicine supply.

Personal Passions and Inspirations

Beyond her professional achievements, Priyanka is passionate about fitness and fashion, continuing to write and blog on these interests. Inspired by her marathon-running parents, who earned a Guinness World Record in 2010, she brings the same dedication and resilience to her leadership at Granules. Priyanka aims to consolidate and strengthen Granules’ position as a billion-dollar company, empowering her team to share in the organization’s vision with strong conviction and commitment.

Through her strategic vision and innovative leadership, Priyanka Chigurupati is not only honoring her family’s legacy but also ensuring Granules India’s sustained growth and success in the global pharmaceutical industry.

[lawtoppers]

Bombay High Court Denies Bail to PFI Members:

News Container NEWS Bombay High Court Denies Bail Bombay High Court Denies Bail to PFI Members Accused of Extremist Activities. The Bombay High Court has denied bail to three members of the Popular Front of India (PFI) accused of conspiring to turn India into an Islamic state by 2047… READ MORE » June 13, 2024 No Comments

[liberty1776]

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[christianityculture]

More Than 500,000 Bibles Distributed to Prisoners Worldwide

Prison Fellowship International (PFI) and Bible League International (BLI) mark their 10-year partnership with a new agreement to triple their service to prisoners over the next five years. In the past 10 years, the organizations have distributed over 550,000 Bibles to graduates of two in-prison programs: Prison Fellowship International’s The Prisoner’s Journey® (TPJ), currently running in 36…

[sortyourlifeoutmate]

Ah yes! And let’s not forget PFI! That’s not gone anywhere!

My favourite part is the counterpoint argument from those benefitting from the ever-ballooning costs of the PFI contracts. They make fantastic reading because they are fucking shameless. The brass! You could see your face in it!

Basically, many schools (and other places, but the news today is specifically about schools) are locking into contracts with private firms to provide, well, a bunch of stuff – catering, ground maintenance, building maintenance, whatever. But like I say, they’re locked in, and the cost of these contracts has gone up and up and up. Above inflation, no less! And you’re locked in! You got no choice! You pay, and you obey the rules! You keep the grass on those playing pitches at two and a half centremetres even in the middle of winter when they’re waterlogged and they’re not using them!

What’s that? You think we’re doing a bad job maintaining the building? Radiators keep bursting and sending scalding jets of water arcing across the room? Half the school is locked off because of this? Ceilings are collapsing? Fuck you, pay us! We’ll fix it! Maybe. Eventually.

What’s that? Someone cheaper? No! Fuck you! We have a contracts, fuckers! And it’s just gone up!

But yes, that’s my hyperbolic setting the scene. Here’s a slightly more concrete example: Middlefield Primary in Speke. Cost of their PFI contract for this year? £470,000, which is up by £151,000 since 2021. This is such a burden that the school has been unable to replace four members of classroom staff since 2020. So that’s four teachers who should be there who aren’t, because someone wants their cut.

Ah! But the company in question would be willing to renegotiate the grass length. That’s nice of them, eh? Oh wait, the legal fees would make it pointless. Whoops.

Oh, also, as a bonus, a lot of these PFI contracts come with NDA’s built into them. Why might that be? Why would you not want people talking about this, I wonder? Hmm…

But yes, the brass. The brass is that, faced with all of this – none of which is new, by the way, it’s just got much worse – those defending these contracts are adamant they represent good value of money for the taxpayer. They are resolute on this! This is value for money! It might not look like it, but it is! It might look like thousands and thousands of pounds of public money is going into the pockets of people doing a shitty job and charging more for the privilege every year, but it is good value! Honest!

The real problem is that school budgets haven’t kept up with PFI contracts! Hear that? The real problem is that the budgets haven’t kept up with OUR EXTORTIONATE FUCKING DEMANDS! That’s the problem! We’re milking the taxpayer TOO QUICKLY! The government can’t keep up even if it wanted to, AND IT DOESN’T!

Fuck you all with a broom.

[handoferis]

NEW PFI TONIGHT YAYAYAY

[uncommon-etc]

I know right! What depresses me most is that so many of these posts come from people in their late teens and early 20s (why so cynical already young un's?) who aren't even old enough to remember what life was like before the tories.

I'll be the first to say that I've liked, and trusted, nearly every Labour leader since 1935 except Blair. I'd trust that man as far as I could throw him, and I'll never forgive him for throwing away the goodwill of a significant portion of the electorate on a stupid war in the middle east which destabilised a whole region. The PFI stuff wasn't so great either, but...

I had just started school when Blair won the landslide in '97, and from then until I left school the year the tory-libdem coalition arrived to stamp on all my dreams of an affordable university education, things actually did get better.

We went from being taught in prefab huts where the roof leaked and there was no heating in the winter, to shiny new school extensions with double-glazing and textbooks that weren't 20 years out of date. Because teachers could afford new books, we could read texts by contemporary authors, including those under-represented on the current curriculum, instead of just reading Of Mice and Men for two years like schools do today.

Though the rightwing press did everything they could to demonise benefits claimants, the process was still relatively humane. You could speak to an actual human on the phone at your local jobcentre, and they would show you a list of local vacancies, instead of telling you to go away and sign up for Universal Credit online and come back in five weeks when you were destitute. If someone needed to claim JSA or ESA, they weren't penalised for doing so, and a couple claiming either could get about £800 a month, and housing benefit to cover their rent.

My hometown had five libraries, many public attractions like museums, art galleries, and botanical gardens were completely free, because they were heavily subsidised. Three of those libraries have closed now and the others have had to start charging for DVD rentals, meaning expensive foreign films that those on low incomes could never afford in HMV are still out of reach.

And, being Scottish, I got to watch as we got our own parliament for the first time, an actual seat of power that wasn't 500 miles away from the lives and experiences of everyone I knew. I actually attended a debate there in 2009 about whether devolution had been a success. This was because under the last labour government, state schools had debate teams, and swimming pools, and trips to places other than the local rubbish dump or abbatoir. There was no assumption that just because your parents weren't paying for your education that you deserved less than the children of the rich.

I know that everyone who had a half-decent childhood can have their judgement clouded by nostalgia, but it isn't just white malteasers and belville lego that I miss about the 00s, it's having a government that actually fixed things for the people who paid their salaries.

(Also if you were born between 2002 and 2011, the government literally set up a trust fund for you and put a grand into it, if you didn't know this, go and check right now, it was one of the first things the tories scrapped when they got into power, but you can still claim yours even if your parents never paid anything extra into it.)

Buzzing for a general election. Not so buzzing that every social media timeline is going to be filled with middle-class white girly pops saying 'Labour are no better' whilst the over 4 million children living in poverty in the UK right now might like the option of finding out xoxo

[lizseyi]

Kinstellar Appoints New Sector And Service Line Heads And Head Of German Desk

Kinstellar supports professional growth by offering a broad range of career development opportunities for our team, including the role of sector/service line head or co-head. We provide growth opportunities to all of our talented lawyers with the relevant experience and an outstanding track record.

We are delighted to announce the following appointments:

Csilla Andrékó, Partner in our Budapest office, is the Co-Head of the firm-wide Banking & Finance Service Line. Csilla is one of the founders of the Firm and the former Managing Partner of the Budapest office. Csilla also served as the head of the regional Banking & Finance and Restructuring & Insolvency Service Lines. She retired from active practice last year, but has remained close to the firm and is a valued mentor to our team. Csilla has agreed to step out of retirement to help refresh and guide our Banking & Finance service line.

Csilla has over 30 years of experience in project and acquisition finance, restructuring and insolvency matters, PPP/PFI finance, international banking and syndicated lending as well as in capital markets. She is a leading name and authority among her peers with an outstanding career, and we are confident that, under her guidance, we will continue building a strong and acknowledged service.

Magdalena Răducanu, Special Counsel in our Bucharest office, is the Co-Head of the firm-wide Banking & Finance Service Line. She has more than 22 years of experience advising leading banks, financial institutions and borrowers on banking and finance matters. Since joining the Firm and our Banking & Finance Service Line in 2021, Magdalena has advised or coordinated banking mandates totalling EUR 4 billion.

Magdalena has expertise in a broad range of banking and finance matters, having dedicated her focus exclusively to this area and to financial regulatory matters. Lately, she has focused significant efforts assisting banks on various ESG-related mandates.

Miloš Velimirović, the Managing Partner of our Belgrade office, is the Co-Head of the firm-wide Financial Institutions sector. He co-leads the sector alongside Diana Dimova, Managing Partner of our Sofia office.

With more than 15 years of experience in banking & finance, Miloš has advised companies and financial institutions on issues associated with the regulation of the financial services sector and on M&A, data protection, project financing, and other general matters. He has participated in complex financial transactions of corporate clients, government, municipalities, and state-owned entities with a total value of over EUR 2 billion. Miloš is particularly active in investment funds regulatory matters and the fintech industry.

Before joining SOG Law Firm and subsequently Kinstellar, Miloš worked as the Head of Serbia’s Public Finance Department, served as a member of the Credit Committee at Hypo Alpe-Adria Bank, and was Finance Specialist at the World Bank Competitiveness and Jobs project. His combined education in law, finance, and business, as well as his background in banking, enable him to provide clients with comprehensive advice. His experience in public offices and position with the World Bank make him well positioned to advise clients cooperating with public authorities and institutions.

Jan Lehký, Counsel in our Prague office, is the Co-Head of the firm-wide Environmental, Social and Governance (ESG) service line. He co-leads the sector alongside Olena Kuchynska, Managing Partner of our Kyiv office.

With more than 15 years of experience, Jan focuses on a range of ESG and regulatory issues with a focus on helping investors with ESG and governance strategies, including navigating ESG transparency, ESG disclosures and reporting, environmental regulation, circular economy issues, ESG litigation risk, and ESG-related obligations and risk assessments. His expertise also includes structuring real estate transactions, such as acquisitions of real estate portfolios, construction law, and the permitting process during various stages of development, as well as advising on high-value, long-term lease agreements, title insurance, litigation, and general commercial and contract law.

Lukáš Mrázik, Managing Associate in our Bratislava office and Co-Head of the firm-wide Data & Cybersecurity service line, is also Co-Head of the firm-wide Technology, Media & Telecommunications (TMT) sector. He co-leads the sector alongside Viliam Myšička, Partner in our Bratislava office.

Lukáš has over eight years of experience focusing on the Technology, Media & Telecommunications and Life Sciences & Healthcare sectors, with particular expertise in data protection, intellectual property and corporate matters. Lukáš holds CIPP/E, CIPT and CIPP/US certifications awarded by the International Association of Privacy Professionals.

Prior to joining Kinstellar, he worked in London as an Associate at a global consulting firm owned by a leading technology company, where he assisted on privacy and data protection issues and all aspects of GDPR implementation.

Iustinian Captariu, Partner in our Bucharest office, is the Head of the firm-wide Energy & Natural Resources sector and service line. 

Iustin has over 15 years of experience advising local and international clients on all aspects of energy law, including energy M&A, renewable investments and developments, upstream projects, joint-ventures, reorganisations, disputes, licensing, and all types of regulatory matters.

Lukáš Ševčík, the Managing Partner of the Prague office and the firm-wide Head of the Defence & Security sector, has been appointed to lead our German Desk.

Lukáš is a German-qualified lawyer, educated and trained in Germany and is a member of the Frankfurt Bar Association. He has 30 years of experience advising international clients on their investments and divestitures in CEE.  For further reference, please also visit our dedicated German Desk webpage (in German).

Lukáš Ševčík Managing Partner

+420 221 622 258lukas.sevcik@kinstellar.com

Miloš Velimirović Managing Partner

+381 63 555 156 milos.velimirovic@kinstellar.com

[werindialive]

The Congress government has committed this sin,” PM Modi during a rally in Udaipur

PM Modi on Thursday accused Congress government in Rajasthan of being “sympathetic to terrorists”, and said that the appeasing nature of the ruling party can prove lethal to the state. He also said that the frequently occurring terror incidents, including the murder of Kanhaiya Lal last year, are incidents that could harm the heritage of the state.

During an election rally in Udaipur, while addressing the crowd, PM Modi said, “The terror act in which Kanhaiya Lal was killed in Udaipur is a blot on the Congress government. This heinous crime took place because a party that sympathizes with terrorists is in power.”

The number of such shameful acts in the recent time in Rajasthan has been high, he added.

On June 28, 2022, the murder of tailor Kanhaiya Lal made national news headlines. It was a revenge crime where two assassins murdered the tailor for showing support to BJP leader Nupur Sharma, who had made contentious remarks earlier.

PM Modi also addressed the state government's decision to impose a ban on the Ram Navami procession and Kanwar Yatra while allowing the Popular Front of India (PFI) to hold rallies. “Who would have thought that such a situation would arise here… The Congress government has committed this sin,” he said.

Mr. Modi also addressed the issue of migration wherein it has been noticed that several people from the poor areas of the state are moving to other states. The PM said that if Congress remained in power, more people would migrate, vacating Rajasthan.

Finally, counting Congress’s list of failures, Modi said, “In the fight for the chair, Congress lost sight of public issues”. “The sole agenda of the Congress is to loot the State and fill its coffers. The party could not survive without corruption,” he added.

For more national news India in Hindi, subscribe to our newsletter.

[decentralvaccine]

GSK Defeats Pfizer In RSV Vaccine Battle

Besides Pfizer’s fast-declining COVID-19 sales, vaccine rival GSK is giving the New York drugmaker another reason to worry.

In the first round of their RSV vaccine showdown, GSK’s Arexvy pulled down 709 million pounds ($860 million) in the third quarter, more than doubling the $375 million haul from Pfizer’s Abrysvo during the same period.

[starfriday]

RECPDCL Hands Over Khavda IV-E2 Power Transmission Ltd to Power Grid and NERES XVI Power Transmission Ltd to Techno Electric

Gurugram, 30th May: REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, handed over two project specific SPVs (Special Purpose Vehicles) on 30th May 2024, namely, Khavda IV-E2 Power Transmission Limited and NERES XVI Power Transmission Limited formed for the implementation of Inter-State Transmission Schemes of Ministry of Power for “Transmission System for Evacuation of Power from potential renewable energy zone in Khavda area of Gujarat under Phase- IV(7 GW): Part E2” and “North Eastern Region Expansion Scheme-XVI (NERES-XVI)” respectively’.

M/s Power Grid Corporation of India Limited emerged as the successful bidder with respect to the ISTS scheme “Transmission System for Evacuation of Power from potential renewable energy zone in Khavda area of Gujarat under Phase- IV (7 GW): Part E2” and M/s Techno Electric & Engineering Company Limited was selected as the successful bidder for the “North Eastern Region Expansion Scheme-XVI (NERES-XVI)”.

The respective Transmission Service Providers (TSPs) were selected via Tariff-based Competitive Bidding (TBCB) process. RECPDCL was the Bid Process Coordinator for both the projects.

The SPVs were handed over to the successful bidders in presence of Shri P. S. Hariharan, Chief General Manager & HOD (Transmission), RECPDCL and other senior officials of RECPDCL & CTUIL.

About RECPDCL:

REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, has been providing knowledge-based consultancy and expert project implementation services to more than 50 State power distribution companies/Power Departments of States. RECPDCL has been acting as Bid Process Coordinator (BPC) for Tariff Based Competitive Bidding (TBCB) in Transmission Line Projects & RE-Bundling projects. Under PMDP projects, RECPDCL has been executing critical infrastructure upgradation projects in distribution and transmission sectors in the UT of J&K and Ladakh.

ABOUT REC LIMITED:

REC is a 'Maharatna' company under the administrative control of the Ministry of Power, Government of India, and is registered with RBI as Non-Banking Finance Company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC). REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pump Storage projects, Green Hydrogen, Green Ammonia projects etc. More recently REC Limited has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc. REC Limited provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country.

REC Limited continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), National Electricity Fund (NEF) Scheme which resulted in strengthening of last mile distribution system, 100% village electrification and household electrification in the country. REC has also been made the nodal agency for 19 States and Union Territories for the Revamped Distribution Sector Scheme (RDSS). REC has also been made National Program Implementation Agency (PIA) of PM Surya Ghar Muft Bijli Yojna. The loan book of REC stands at ₹ 5.09 lakh crore and Net Worth at Rs. ₹ 68,783 crore as on 31 March, 2024.