Kempegowda reason B'luru enjoys global recognition: Minister
He was speaking at the inauguration of the 516th Kempegowda Jayanti celebrations held at Nalwadi Krishnaraja Wadiyar Kalamandira in Mandya.
The event was jointly organised by the district administration and the department of Kannada and culture.
Cheluvarayaswamy emphasised that Kempegowda, with remarkable foresight, constructed lakes and temples in Bengaluru over 500 years ago. "His vision laid the foundation for the development of not just Bengaluru but the entire Old Mysuru region," he stated, while also crediting Mysuru Maharaja Nalwadi Krishnaraja Wadiyar for his significant contributions.
Highlighting the historical significance of the moment, the minister said, "In the last 100 years, the Krishna Raja Sagar (KRS) reservoir has never recorded such high-water levels in the month of June." The reservoir, he said, is currently supplying water to Mandya, Bengaluru, and the wider Old Mysuru region.
He also lauded the contributions of Nalwadi Krishnaraja Wadiyar in the areas of education, healthcare, and social justice, particularly in Mandya and the Old Mysuru region.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
¡No me lo pierdo!
Orange
Undo
"We are working to preserve and build upon his legacy," he said, announcing a Rs 100-crore plan to develop Agricultural University at Shivalli and a Rs 25-crore proposal for reviving the MySugar Factory, which is awaiting the CM's approval.
Mandya MLA P Ravikumar was present.
During the celebration, UPSC top rank holders MR Nikhil of Modachakanahalli and Manoj HP of Haleboodanur were felicitated, along with other achievers from various fields.
Kempegowda made invaluable contribution: GTD
Former minister and Chamundeshwari MLA GT Devegowda, emphasised that Kempegowda's name is eternally inscribed in Indian history for his visionary leadership and invaluable contributions to Kannadigas, especially in founding Bengaluru.
Speaking at the Kempegowda Jayanti celebrations in Mysuru, organised by the district administration, department of Kannada and culture, and the Sri Kempegowda Jayanti Celebration Committee, the event honoured Kempegowda's multifaceted legacy.
He lauded Kempegowda's pioneering urban vision, citing his establishment of five domed mantapas for civic administration and construction of vital lakes like Kempambudhi and Karanji to ensure sustainable water supply.
Chamaraja MLA K Harish Gowda, who presided over the event, noted Kempegowda's 15th-century vision laid the foundation for the globally renowned, well-planned city of Bengaluru. Someshwaranatha Swami of Adichunchanagiri Mutt, in his address, highlighted Kempegowda's inclusive ideals and said Bengaluru, now a tech hub, reflects his dream of communal harmony and progress.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
10 minutes ago
- Business Standard
MakeMyTrip charts global expansion route, boosts corporate travel focus
Cofounder says growth driven by three engines: Customers, artificial intelligence, and supply Akshara Srivastava Gulveen Aulakh New Delhi Listen to This Article India's largest online travel aggregator, MakeMyTrip, is sharply expanding its footprint in the corporate travel segment while reinforcing a long-term strategy centred on technology, artificial intelligence (AI), and regional dominance. With a market capitalisation of over $9.8 billion, powered by a profit-making business, the company is pushing its brand into newer markets such as Saudi Arabia and the United Arab Emirates (UAE), while keeping its door open for future fundraising opportunities. 'Our grand objective is to become a one-stop shop for every conceivable need of the Indian traveller. Our recent launches — tours, attractions, and cruises — along with established
New Indian Express
25 minutes ago
- New Indian Express
The emergence of income plus arbitrage funds
Debt mutual funds in India which were a tax efficient option for lower risk investors in the Indian capital market took a beating when its taxation got tweaked in a recent Union Budget whereby its gains were simply taxed at the investor's overall income tax slab rate. There was a course correction of sorts in the very next Budget where some further tweaks were made for a new predominantly debt oriented hybrid investment category with an equity taxation rate albeit with a two year holding period was proposed. This has led to some innovative products and the Income Plus Arbitrage Fund, which strategically allocates investments into a combination of debt-oriented mutual fund schemes and arbitrage funds, is one of them. Typically, such a fund invests about 50–65 percent in debt mutual fund schemes and 35–50 percent in arbitrage opportunities, placing it in the Fund-of-Funds (FoF) category. The debt component is aimed at offering stability and visible income, while the arbitrage portion offers tax efficiency. With precise structuring, the fund can qualify for equity-like taxation, making it an attractive option for tax-sensitive investors. The primary reason for a low to moderate risk investor to consider an Income Plus Arbitrage Fund is usually its tax efficiency. A FoF that maintains at least 35 percent exposure to equity instruments, even if it is through arbitrage positions, can help the fund qualify for equity type long-term capital gains (LTCG) taxation if held for over two years. This means capital gains, if any, will be taxed at 12.5 percent, which is significantly lower than the tax on traditional debt funds or fixed deposits, both of which are taxed as per the investor's income tax slab.
Economic Times
26 minutes ago
- Economic Times
NBFCs tap $3.67 billion in overseas syndicated loans, more than double 2024 levels
Synopsis Indian non-bank lenders significantly increased overseas syndicated loan borrowing. They raised $3.67 billion in 2025, more than double 2024's $1.64 billion. Cheaper pricing and favorable tax policies drove this surge. More overseas banks are now willing to lend to Indian companies. HSBC's Chetan Joshi notes better pricing and diversification of funding sources as key factors. Mumbai: Loans garnered from overseas syndicates so far this year by Indian non-bank lenders more than doubled from what they raised in the whole of 2024, reflecting cheaper pricing, a larger pool of interested banks, and favourable tax treatment on the funds raised accessed by ET from the LSEG Loan Connector, a global loan data website, showed that Indian NBFCs raised $3.67 billion so far in 2025 from the syndicated loan market overseas, compared with $1.64 billion garnered in the whole of 2024. The fundraising climbed sharply despite an 2.35% depreciation in the rupee against the US dollar so far in 2025, following protracted outflows from equity assets in the aftermath of tariffs. Banks participating in such loans carry repayment risks inherent in a depreciating currency. Bankers said that increasing loan deals for Indian NBFCs show more overseas banks are willing to commit loan funds to Indian companies. Chetan Joshi, managing director and head of debt finance at HSBC, the top syndicator of loans, said over the last year or so, such deals of Indian NBFCs have gained traction because of relatively better pricing compared with international bonds, a quest for diversification of funding sources, and wider acceptability for local firms in the overseas bank market. "Floating rate loans that are mostly linked to the three month SOFR (Secured Overnight Funding Rate) have become cheaper as credit spreads on offshore bonds have not fallen as much," Joshi said. "This trend of increased NBFC borrowing through syndicated loans is likely to continue this year due to the above factors." Data shows the three-month SOFR rate eased about 100 basis points to around 4.35% from 5.35% a year ago, reflecting cheaper borrowing costs for companies. Loans in the overseas market are priced above the SOFR rate, the benchmark interest rate for overseas transactions. LSEG Loan Connector data showed a willingness among overseas lenders to climb the risk gradient. For instance, of the $3.67 billion raised so far in 2025, about 78%-or $2.85 billion-has been raised by Indian NBFCs rated below story was similar last year with as much as 87% or $1.42 billion out of the $1.64 billion raised in the whole of 2024 has been raised by NBFCs rated below AAA. In other words, the loan market is now accessible for even lower rated NBFCs. Last week, education loan NBFC Avanse Financial Services raised $200 million through a three year loan led by HSBC and syndicated to as many as eleven banks from countries as diverse as Japan, Taiwan, Singapore and the UAE. More importantly the loan was the company's first dual currency loan with $59 million out of the $200 million raised in say raising funds in currencies like yen help companies to reduce borrowing costs because they are priced at lower rates and also as tax liabilities are lower because some of these jurisdictions have an easier tax regime.
