
MoPSW secretary visits Vizag port, unveils projects
Visakhapatnam: Secretary of Ministry of Ports, Shipping and Waterways (MoPSW) Government of India T K Ramachandran inaugurated the south-side Park of AOB, Visakhapatnam boardroom and Manthan hall.
Visiting various areas of Visakhapatnam Port Authority (VPA), the secretary of MoPSW reviewed the port operations and held a meeting with regard to proposal of setting up of Dugarajapatnam Port by the state government, utilisation of salt land and port-led industries at Mulapeta Port and also inaugurated dash board of e-measurement book and coffee table book of the port.
Later, the secretary of MoPSW held an interactive meeting with the stakeholders/PPP operators. The Trade represented specific issues such as land lease for storage and recommendations. He instructed the stakeholders to consider relevant initiatives under the MIV 2030 and MAKV 2047 programmes.
Further, visiting Dredging Corporation of India, Ramachandran stressed the need for the corporation to focus on strategic initiatives aimed at enhancing productivity and competitiveness in the current market environment.
Chairperson of Visakhapatnam Port Authority (VPA) and chairman of DCIL M. Angamuthu briefed the secretary on the Corporation's ongoing strategic initiatives and its pivotal role in supporting maritime trade by ensuring navigability at major Indian ports.
Managing director and CEO Durgesh Kumar Dubey provided an overview of the organisation's ongoing projects and financial performance.
Also, the secretary of MoPSW visited Hindustan Shipyard Limited and Centre for Excellence in Maritime and Shipbuilding, reviewed training programmes on the job training imparted by the CEMS to the unemployed youth and lauded the efforts of the VPA for funding them for skill development.
PSL Swami, Chief Vigilance Officer, T Venu Gopal, secretary, VPA, along with heads of departments and senior officers of the port were present.
Hashtags

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


Time of India
31 minutes ago
- Time of India
Navy to induct first anti-submarine warfare shallow water craft 'Arnala' at Vizag on Jun 18
The first warship in the anti-submarine warfare shallow water craft series, equipped to conduct subsurface surveillance, search and rescue missions, and low-intensity maritime operations, is set to be inducted into the Indian Navy on June 18, officials said on Friday. The commissioning ceremony of 'Arnala' at Naval Dockyard, Visakhapatnam will be presided over by Chief of Defence Staff Gen Anil Chauhan. "The warship incorporates more than 80 per cent indigenous content and integrates advanced systems from leading Indian defence firms, including Bharat Electronics Limited (BEL), L&T, Mahindra Defence, and MEIL," a Navy spokesperson said. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Elegant New Scooters For Seniors In 2024: The Prices May Surprise You Mobility Scooter | Search Ads Learn More Undo The commissioning of 'Arnala' will mark a transformative moment in India's naval capabilities, strengthening coastal defence and reaffiliate India's position as a self-reliant maritime power in the strategically vital Indian Ocean Region, he said. Designed for a range of ASW (anti-submarine warfare) operations, 'Arnala' is equipped to conduct subsurface surveillance, search and rescue missions, and low-intensity maritime operations, the Navy spokesperson said. Live Events The 77-metre long warship, with a gross tonnage of over 1490 tonnes, is the largest Indian naval warship to be propelled by a diesel engine-waterjet combination, the Navy said. The event will mark the formal induction of the first of the sixteen anti-submarine warfare shallow water craft (ASW-SWC) class ships into the Indian Navy. The ceremony will be hosted by Vice Adm Rajesh Pendharkar, Flag Officer Commanding-in-Chief, Eastern Naval Command, and attended by senior naval officials, distinguished guests, and representatives from the shipbuilders and various other agencies associated with its construction. Designed and constructed by Garden Reach Shipbuilders & Engineers (GRSE), Kolkata, under a public-private partnership (PPP) with L&T Shipbuilders, 'Arnala' is a testament to the success of the 'Aatmanirbhar Bharat' initiative in defence manufacturing. Constructed under the guidance of the Directorate of Ship Production and the oversight of the Warship Overseeing Teams in Kolkata and Kattupalli, 'Arnala' was delivered to the Indian Navy on May 8, the Navy spokesperson said. The project has engaged over 55 Micro, Small, and Medium Enterprises (MSMEs), promoting domestic industry and generating related economic activity, he said. Named after the historic Arnala Fort off Vasai in Maharashtra, the warship reflects India's rich maritime heritage. Constructed in 1737 by the Marathas under the leadership of Chimaji Appa, the fort was strategically positioned to oversee the Vaitarna River's mouth, serving as a sentinel over the northern Konkan coast, the Navy said. "Much like the fort, which stood resiliently against various threats, the ship is designed to have a formidable presence at sea. Its robust construction and advanced capabilities ensure that it can withstand the challenges of the maritime domain, safeguarding India's waters from emerging threats," it said. The crest of 'Arnala' features a stylised auger shell set against a blue backdrop, with the ship's name inscribed in Devanagari script at the base. "The auger shell, known for its spiralled, reinforced structure and precision tip, symbolises resilience, vigilance, survival, and dominance in challenging environments, which mirrors the essence of the ship built to withstand the relentless forces of the ocean and undertake flawless anti-submarine operations with precise ordnance on target," the Navy said. The ship's armoured hull mirrors the fort's enduring stone walls, while its state-of-the-art weaponry and sensors replace the cannons that once defended against invaders. 'Arnala' embodies the strategic might and historical significance of its namesake, proving that while battlefields may change, the spirit of defence remains unwavering, whether on land or at sea, it said. Beneath the ship's crest, a ribbon gracefully unfurls, proudly displaying the ship's motto -- 'Arnave Shauryam', meaning 'Valour in the Ocean'. This inscription embodies the ship's unwavering courage, formidable strength and dominance over the vast seas. It serves as a constant inspiration for the crew, urging them to remain steadfast and fearless in the face of any challenge at sea, the Navy spokesperson said.


India Gazette
an hour ago
- India Gazette
SEBI attaches Mehul Choksi's bank accounts, shares, MFs to recover Rs 2.1 crore dues
Mumbai (Maharashtra) [India], June 6 (ANI): Financial markets regulator SEBI has asked banks and mutual funds to attach the bank accounts and shares and mutual fund holdings of fugitive Mehul Choksi to recover Rs 2.10 crore dues for violating insider trading rules linked to shares of Gitanjali Gems. The dues of Rs 2.1 crore include Rs 1.5 crore penalty, Rs 60 lakh as interest (February 2022 to May 2025 at 1 per cent per month) and Rs 1,000 as recovery cost. On May 15, 2025, SEBI sent Mehul Choksi a notice asking him to pay the dues in 15 days. Failure to do so may result in freezing his assets, SEBI mentioned. 'Whereas no amount has been paid by the Defaulter and there is sufficient reason to believe that the Defaulter may dispose of the amounts/proceeds in the Bank Accounts held with your Bank and realization of amount due under the Recovery Certificate would in consequence be delayed or obstructed,' SEBI wrote in its letter to the banks. A similar letter has also been written to mutual funds in India, asking them to attach his demat accounts and mutual fund holdings. SEBI also asked banks to ensure no debit is made from the defaulter's accounts, if any. Banks have also been asked to furnish details of the accounts, including lockers held by the defaulter and a bank statement for the latest year. Similarly, depositories and mutual funds have been directed to immediately provide details of accounts/folios held by the defaulter, a copy of account statements, and confirmation of attachment of the said accounts/folios. Mehul Choksi is a fugitive Indian businessman who is a key accused in the Punjab National Bank (PNB) scam. His nephew, Nirav Modi, is also wanted by the probe agencies in the scam. The duo are alleged to have defrauded the bank of more than Rs 14,000 crore. PNB unearthed the scam on January 25, 2018, and submitted a fraud report to the Reserve Bank of India (RBI) on January 29. Subsequently, an arrest warrant was issued against Choksi. He is wanted in India for criminal conspiracy, criminal breach of trust, cheating and dishonesty, including delivery of property, corruption, and money laundering. Choksi fled the country in January 2018 to Antigua and Barbuda. A court in Belgium had, in April this year, denied Choksi's bail plea. He was arrested in Belgium in April following an official request from Indian authorities. (ANI)


India Gazette
an hour ago
- India Gazette
RBI policy brings cheer for Indian stocks: Nifty Bank soars over 800 points, realty skyrockets
New Delhi [India], June 6 (ANI): The Indian stock indices ended on a strong note and surged after the larger-than-expected policy rate cut, reflecting elevated optimism among the market participants on the last trading day of the week. At the end of the trading on Friday, the BSE Sensex was at 82,188.99, up 746.95 points or 0.92 per cent, and the Nifty 50 was up 252.15 points or 1.02 per cent. The market analysts say that the RBI's decision to cut the repo rate exceeds expectations and gives a strong message to the markets that the apex bank is willing to move aggressively when macroeconomic conditions allow. Following the MPC outcome announcements, Nifty Bank hit a new high, and the Central Bank was surprised with a larger-than-expected policy rate cut of 50 basis points, taking the repo rate to 5.5 per cent. The Nifty Bank ended at 56,578.40, climbing over 817 points. 'This big rate cut will impact the margins of the banks and, therefore, bank stocks will be under pressure in the near term. However, the credit growth that this rate cut will hopefully stimulate will compensate for the dip in margins,' said VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.'The Indian stock market responded optimistically to RBI's surprise and aggressive growth push policy,' Vijayakumar further added. CS Setty, Chairman at State Bank of India & Chairman at IBA said, 'RBI today's monetary policy communication was action-packed - innovative, out of the box and an unanticipated surprise.' 'The policy is definitely positive for all sectors of the economy, particularly for banking and finance. In particular, lower cost of borrowing will act as a counterbalance to any uncertainty,' he added. The investors also reacted strongly to the Realty, which rose over 4 per cent. Reacting to the rate cut announcement, Mayank Jain, CEO, KREEVA, a real estate developer, said, 'The reduced borrowing cost will not only strengthen homebuyers' sentiments but also help in easing the liquidity flow in the market. 'In light of significant market volatility and real estate witnessing a surge in the investment flow, this proactive approach signals the central bank's strong commitment to thrust economic momentum and boost investor confidence,' Jain added. Except for Media, which was one per cent down on Friday, all other sectoral indices ended higher with metal, auto, and consumer durables jumping over one per cent each. (ANI)