
Fresh heritage precinct proposal for KMC
2
3
4
Kolkata: Calcutta Architectural Legacies (CAL) and Indian National Trust for Art and Cultural Heritage (INTACH) that have been nudging the Kolkata Municipal Corporation to accord heritage precinct status to historic neighbourhoods in Kolkata with significant built architecture have again submitted the proposal on Dalhousie Square and Bow Barracks.
In addition, work on a dossier is underway to demarcate two other localities — Lake Temple Road and College Street — as precincts as well.
The proposal on Dalhousie Square, now known as BBD Bag, had earlier been submitted to KMC in Sept 2024. CAL and INTACH resubmitted the proposal last week following a request by KMC commissioner Dhaval Jain.
The dossier was prepared by architects Partha Ranjan Das and Kamalika Bose to give shape to a demand that CAL founder and writer Amit Chaudhuri has been raising to declare heritage precincts so that the city's unique built heritage can be preserved.
You Can Also Check:
Kolkata AQI
|
Weather in Kolkata
|
Bank Holidays in Kolkata
|
Public Holidays in Kolkata
|
Gold Rates Today in Kolkata
|
Silver Rates Today in Kolkata
"We need to declare zones as heritage precincts to retain the character of these localities instead of focusing just on individual buildings," said Chaudhuri. INTACH that has been promoting heritage conservation in the city for decades has lent its weight to the proposal. INTACH and CAL had moved Calcutta High Court in 2019 with a PIL on the unilateral delisting of heritage buildings and later argued for the declaration of heritage precincts.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Could This NEW Collagen Blend Finally Reduce Your Cellulite?
Vitauthority
Learn More
Undo
The HC had in Jan 2025 issued an order asking the state to approve the draft KMC rules for heritage buildings within 8 weeks. But there has been no headway on the issue yet. "Since the HC deadline has lapsed, KMC needs to urgently take it up with the state government and act on the matter," said GM Kapur of INTACH.
Several other Indian cities, including Mumbai, Delhi, Bengaluru, Ahmedabad and Pondicherry, have heritage precincts that ensure that any new development does not alter the character of the zone.
Speaking to TOI, conservation architect Das said the proposal maps the heritage precinct of Dalhousie Square and Bow Barracks and spells out building rules that will govern addition and alteration to existing buildings and addition of a fresh building in the precinct.
"The proposal is not anti-development but regulated development so that the inherent character of the neighbourhood or precinct is retained," explained Das. CAL, which was set up around a decade ago by a group of like-minded citizens united in the common goal of working to prevent the disappearance of our city's distinctive residential neighbourhoods and other marks of modernity unique to Kolkata, has been advocating the need to declare zones as heritage precincts to retain the character of these localities instead of focusing just on individual buildings.
Stay updated with the latest local news from your
city
on
Times of India
(TOI). Check upcoming
bank holidays
,
public holidays
, and current
gold rates
and
silver prices
in your area.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Mint
6 minutes ago
- Mint
Best stocks to buy today: Ankush Bajaj's top three recommendations for 18 August
On 14 August the Indian equity markets clung to gains in a largely range-bound session, with sentiment supported by favourable domestic and global cues. The Nifty 50 edged up 11.95 points or 0.05% to close at 24,631.30, while the Sensex advanced 57.75 points or 0.07% to settle at 80,597.66. Nifty Bank rose 160.40 points or 0.29% to end at 55,341.85, although buying in financials was more measured than in other sectors. Top 3 stock picks by Ankush Bajaj for 8 August Why it's recommended:The stock has strong momentum with an RSI of 60, MACD at 47, and ADX at 17, indicating an emerging trend. It is trading above all its major moving averages, confirming underlying strength. On the daily chart, the stock has made a new lifetime high, supported by a steady build-up in volume. Air travel demand remains robust, and the company continues to benefit from strong passenger load factors and expanding capacity, which adds a supportive fundamental backdrop to the bullish technical setup. Pattern: Breakout to new lifetime high MACD: Positive at 47, giving buy signal RSI: At 60, in bullish territory ADX: At 17, indicating trend initiation Moving Averages: Trading above all major MAs Technical analysis:Sustained price action above ₹6,000 with volume could lead to further upside towards ₹6,200. Risk factors:A close below ₹5,900 would weaken the bullish structure Buy at: ₹6,002.50 Target price: ₹6,200 Stop loss: ₹5,900 Why it's recommended:Muthoot Finance has strong momentum with a daily RSI of 63, MACD at 3, and ADX at 21.55, indicating a confirmed trend. All major EMAs signal a buy, and recent price action suggests a continuation of the uptrend. Positive sentiment in the NBFC and gold loan segment, coupled with steady earnings growth, adds a supportive backdrop to the technical setup. Pattern: Strong uptrend continuation MACD: Positive at 3 RSI: At 63, showing strong momentum ADX: At 21.55, giving buy signal EMAs: All major EMAs aligned bullish Technical analysis:Momentum and trend strength indicate potential move towards ₹2,930 if the uptrend holds. Risk factors:A close below ₹2,671 would negate the bullish bias. Buy at: ₹2,757.40 Target price: ₹2,930 Stop loss: ₹2,671 Why it's recommended:UNO MINDA is showing bullish momentum with RSI at 63, MACD at 9, and ADX at 15. On the 15-minute chart, the stock has broken out of a triangle pattern, which could act as a continuation signal. The auto ancillary sector has been witnessing robust demand, and the company's product diversification supports a sustained bullish outlook. Pattern: Triangle breakout on lower timeframe MACD: Positive at 9 RSI: At 63, in bullish zone ADX: At 15, indicating early trend stage Technical analysis: Triangle breakout supported by momentum indicators could drive the stock higher in the short term. Risk factors:A close below ₹1,125 would weaken the bullish view. Buy at: ₹1,149.80 Stop loss: ₹1,125 How the market performed on Thursday Sectoral action was mixed on Thursday. Metal slipped 1.39%, oil & gas eased 0.91%, and energy dipped 0.78%, weighing on the broader gains. On the bright side, the financial services index rose 0.36%, the services sector gained 0.33%, and the banking index climbed 0.29%, driven by rotational buying and bargain-hunting in quality counters. Wipro led the gainers with a 2.14% surge, while Eternal rallied 1.94% and HDFC Life Insurance advanced 1.56%, benefiting from sectoral tailwinds. Weakness was seen in select heavyweights — Tata Steel dropped 3.05%, Adani Port slipped 1.46%, and Tech Mahindra declined 1.30%, though their impact on overall sentiment was limited. Global mood improved after softer-than-expected U.S. inflation data raised expectations for a September Federal Reserve rate cut. Domestically, optimism was further fueled by retail inflation easing to an eight-year low of 1.55%, bolstering risk appetite. These dual macro positives provided a solid cushion for the market, helping the Nifty maintain its footing above 24,600 despite sectoral divergences. Nifty technical analysis: daily & hourly The Nifty 50 closed at 24,616.05, down 14.25 points or 0.06%, reflecting a muted session after recent attempts to stabilize. On the daily chart, the broader trend remains capped by a bearish moving average crossover, with the 20-DMA at 24,757 still below the 40-DEMA at 24,830. This setup keeps the medium-term bias cautious until the index decisively reclaims this band on strong volumes. Momentum readings show some early signs of recovery, with the daily RSI at 44, up from oversold levels, though still below the neutral 50 mark. The daily MACD remains negative at –144, indicating that bearish momentum is present, albeit at a moderating pace. On the hourly timeframe, the tone is relatively better. The index is trading just above the 20-HMA at 24,596, but still under the 40-HEMA at 24,858, keeping overhead resistance intact. The hourly RSI stands at 53, showing modest bullishness, while the MACD is in positive territory at +27, supporting the case for a short-term bounce. Price action suggests that the market is attempting to base out near the 24,560–24,600 zone, making this band crucial for sustaining upward attempts. The derivatives picture, however, tilts bearish. Total Call OI stands at 5.89 crore versus Put OI of 5.18 crore, giving a negative PE–CE OI difference of 71.38 lakh. The day saw Call OI rise by 2.62 crore and Put OI increase by 1.77 crore, leading to a negative OI change difference of 84.76 lakh, which reinforces a short-term bearish stance. The heaviest Call OI is concentrated at 25,500, where fresh additions have also been seen, marking it as a major resistance level. On the Put side, maximum OI is far at 22,600, while the largest addition is at 23,500, indicating only moderate near-term support. Globally, cues are mixed. US markets have cooled after recent highs, while Brent crude holds steady around $65–66 per barrel, and the rupee remains stable near 87.6 against the dollar, providing a relatively benign macro backdrop. Overall, as long as Nifty holds above 24,560-24,600, short-term pullbacks could extend towards 24,750–24,830. A sustained close above 24,830-24,880 would be the first sign of a potential medium-term reversal, paving the way to 25,100-25,200. On the downside, a close below 24,540 would negate the short-term bullish bias and shift focus back to 24,450-24,400. With call writers still dominant, especially at 25,500, rallies are likely to face supply pressure unless accompanied by strong breakout momentum. Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.


Mint
6 minutes ago
- Mint
Trump's punishing tariffs to deepen the slump in one large corner of Indian banking
Mumbai: Indian banks have low exposure to the sectors in the direct line of US President Donald Trump's tariffs. Yet, as trade disruption ripples through the economy, they may not escape a further slowing in corporate loans. Sectors including textiles, jewellery, apparel, seafood, machinery and mechanical appliances, chemicals, and auto components are expected to bear the brunt of the 50% tariffs on Indian goods entering the US. Direct lending by top banks such as State Bank of India, ICICI Bank and HDFC Bank to these industries is estimated to be about 10% of the overall loans, limiting the impact on lenders. What is concerning is the second-order hit. There are three primary reasons behind concerns about a potential slowdown in corporate credit growth on account of tariffs, according to analysts at Fitch group company CreditSights. 'First, we expect banks to be more cautious to lend to export-oriented companies, particularly in sectors heavily reliant on US demand, as the 50% tariff would have a significant impact on their businesses," Lim Ze Hao, analyst, financials at CreditSights, told Mint. It is likely that export orders are put on hold or even scrapped as US buyers seek cheaper alternatives from countries with lower tariffs, he said. Second, with the high tariff rate now and some uncertainty over where the tariff rate will eventually settle, exporters and manufacturing firms are likely inclined to pause expansion plans, resulting in reduced demand for bank loans. According to Ze Hao, finally, the 50% tariff rate will also have a moderate drag on India's GDP growth. 'Slower GDP growth typically translates into slower overall system loan growth, as businesses become more conservative about expanding operations because of slower demand, and consumers will also be more cautious about making major purchases." India's growth rate is estimated to decline by 20-30 basis points as US President Donald Trump imposes tariffs on trading partners to fulfil his election promise of bringing back jobs to the US. India faces one of the highest levies, at 50%, including 25% for buying Russian energy. Indian conglomerates have already flagged uncertainties emanating from tariffs. Corporate credit slump Reliance Industries, in its annual report, warned that 'continuing geopolitical and tariff-related uncertainties may affect trade flows and demand‑supply balance" for its oil-to-chemicals business that encompasses transportation fuels, and polyesters, among others. JSW Steel said in its annual report that 'the policy uncertainty is adversely affecting business and consumer confidence". Demand for corporate loans wasn't strong even before Trump started using tariffs as a negotiating stick. Indian banks have been waiting for corporates to borrow more. A recovery in credit demand has been impeded by the companies' reluctance to embark on new capital expenditure and their use of internal accruals, instead of bank loans, to fund projects. Bank loans to industries—micro, small, medium, and large—stood at ₹39.3 trillion at end-June, up 5.5% on year. Yet, the growth has slowed down from 8.1% seen in the previous year. The segment accounted for 21.4% of the overall non-food credit of banks in June, down from 22.1% in the same period of the previous financial year. Non-food credit excludes loans to the Food Corporation of India. A Mint analysis of cash holdings of 285 BSE-listed firms, excluding banking, financial services and insurance companies, showed a 12% year-on-year rise to ₹5.09 trillion in FY25. However, new project announcements—a proxy for capital expenditure—fell 5% in FY25, following a 3% contraction in FY24, Mint reported on 6 July, citing data from the Centre for Monitoring Indian Economy (CMIE). Lenders still optimistic Banks are hopeful that corporate loan demand will recover.C.S. Setty, chairman, State Bank of India (SBI), said on 8 August that corporate loan demand is expected to be at least 10% in the December quarter of the current financial corporate loan book grew 5.7% year-on-year, down from 15.9% a year earlier. The state-owned lender's total domestic loan book expanded 11.1% in the June quarter versus 15.6% a year earlier. Sashidhar Jagdishan, chief executive of HDFC Bank, told analysts on 19 July that the bank is 'not seeing anything great on the capital, private capex side as yet". However, the private lender 'shall surely participate in across all our segments, whether it is rural, whether it is retail, whether it is MSME and whether it is corporate as well". But it's not just that the demand for corporate loans has slowed down. 'There is a general demand slowdown, whether it is consumption in general or demand for corporate loans," said Anil Gupta, senior vice-president and group head of financial sector ratings, Icra Ltd. 'Banks would be ready to fund but in an uncertain environment, loan growth may remain tepid in the near term." According to Gupta, exporters may be in a wait-and-watch mode, given the uncertainty on tariffs and possible additional costs, which may reduce demand for working capital loans. As far as term loans are concerned, he said, clarity on demand revival may revive private capital expenditure.


Mint
6 minutes ago
- Mint
India may crack open the gates to Chinese inflows
New Delhi: Ahead of Prime Minister Narendra Modi's visit, India is weighing easier rules for Chinese investments in select sectors in another step to restore ties as New Delhi seeks to bolster trade amid US tariff uncertainty, said two people aware of the matter. The proposal under consideration is to identify non-sensitive areas such as specific segments of manufacturing, renewable energy, and consumer goods, where investment proposals from Chinese companies could be cleared through a faster and simplified approval process, said the first of the two people cited above. 'Talks are underway at the diplomatic level to find a workable solution, keeping sensitive sectors such as defence and telecom, and critical digital infrastructure to ensure that national security is not compromised even as economic benefits are realized," said the second person. Both spoke on the condition of anonymity. 'As there is no plan to review Press Note 3, investments from China will be considered through the government approval route and not via the automatic route," this person said. Under Press Note 3, investments from countries sharing a land border with India must be approved by the government first. India restricted Chinese investments after the deadly clash between the soldiers of the two nations in Ladakh's Galwan Valley in trade continued to grow as India relies on its neighbour for imports of pharmaceutical raw materials to electronic imports from China increased from $94.57 billion in FY22 to $113.45 billion in FY25. In contrast, exports to China declined from $21.26 billion in FY22 to $14.25 billion in FY25. Inbound shipments from China during April–July 2025 stood at $40.66 billion, up 13.1% from a year earlier. Exports to China jumped 20% to $5.76 billion during the period. On its part, China has also exerted pressure on India by leveraging its dominance in critical sectors. Its near-monopoly on rare earth magnets gives it significant leverage against India, which is heavily reliant on imports. China has also strategically controlled the supply of tunnel-boring machines (TBMs) used in major infrastructure projects, causing delays and increasing costs. This is compounded by the withdrawal of Chinese tech professionals from Indian manufacturing units, potentially disrupting operations. As Trump announced tariffs on its trading partners, New Delhi started easing some of the curbs to improve strained ties. India has resumed issuing tourist visas to Chinese nationals after a five-year gap. In a parallel move, New Delhi is preparing to restart direct flights to Beijing from next month, restoring air connectivity that has remained suspended since the Covid-19 pandemic. Modi will also visit China for the upcoming Shanghai Cooperation Organisation (SCO) summit. Queries sent to the ministries of commerce and external affairs remained unanswered till press time. Need to boost FDI Trump, meanwhile, imposed the highest 50% tariffs on India, including a 25% penalty for buying Russian oil. The first set of 25% duty came into effect on 7 August, while another 25% will come into force on 27 August, giving India time to negotiate. However, the sixth round of talks for the India-US Bilateral Trade Agreement (BTA), which was scheduled for 25 August, has been cancelled, and no fresh dates have been announced, leaving the negotiations in limbo. 'As India aims to achieve developed nation status by 2047, building a stronger manufacturing ecosystem and attracting greater investment(from China)without jeopardising the domestic sector will be the key drivers of this ambition," said Dr Amit Singh, associate professor, Special Centre for National Security Studies at JNU. India attracted foreign direct investment (FDI) worth $81.04 billion in FY25, up 14% from the previous year, data from the commerce ministry showed. The services sector emerged as the top recipient of FDI equity inflows, accounting for 19% of the total, with investments rising nearly 41% to $9.35 billion in FY25. However, FDI inflows into India had peaked at $84.83 billion in FY22, according to data shared by minister of state for finance Pankaj Chaudhary in the Lok Sabha on 10 March. FDI slipped to $71.35 billion in FY23 and $71.27 billion in FY24, amid concerns over a potential global recession, economic crises triggered by geopolitical conflicts, and rising protectionist measures worldwide. Attracting Chinese investments is 'important as it could help replenish investment and address the recent decline in FDI flows", said Biswajit Dhar, a trade policy expert from the Delhi-based think tank, Council for Social Development. 'If India is able to attract more export-oriented investments—what is often referred to as investment-led trade—it could also have a positive effect on the country's rising trade deficit." The government targets to attract $100 billion in FDI in FY26. Modi's first visit since 2019 Meanwhile, Modi is scheduled to travel to Tianjin, China, to attend the SCO summit from 31 August to 1 September. This will mark his first visit to China since the Galwan Valley clash in 2020. He last visited that country in 2019. Ahead of the summit, the Prime Minister will visit Japan on 30 August to participate in the annual India-Japan Summit with Japanese Prime Minister Shigeru Ishiba, after which he will head to China, according to media reports. In the run-up to Modi's visit, Chinese Foreign Minister Wang Yi will be in New Delhi from 18–19 August for the 24th round of special representatives' talks on the India-China boundary question with National Security Adviser Ajit Doval, according to a statement from the ministry of external affairs.