Latest news with #JitendraSrivastava
New Indian Express
31-07-2025
- Business
- New Indian Express
Telangana Minister Uttam urges REC to reduce interest on Rs 16K crore irrigation loans
HYDERABAD: Irrigation Minister N Uttam Kumar Reddy on Wednesday urged the Rural Electrification Corporation Limited to reduce interest rates and extend repayment tenure on the Rs 16,000 crore irrigation loans. The minister held a meeting with REC Chairman and Managing Director Jitendra Srivastava in Delhi. Special Chief Secretary of Finance Sandeep Kumar Sultania also participated in the discussions. During the meeting, the minister urged REC to consider reducing the interest rates on the existing loan portfolio and to increase the loan repayment tenure, which would provide the state with much-needed fiscal flexibility and breathing room to continue its developmental agenda without disruptions. Highlighting the strategic importance of irrigation infrastructure in Telangana's agrarian economy, the minister emphasised that easing the repayment conditions would not only help the state manage its finances more effectively but also enable timely completion of critical projects that directly impact lakhs of farmers. The CMD and senior officials of REC responded positively to the request and assured the minister that the corporation would sympathetically examine the proposal submitted by the Telangana government. The state government had borrowed approximately Rs 16,000 crore from REC for the execution of various large-scale irrigation projects aimed at ensuring water security for agriculture and rural development. However, the loans were sanctioned at relatively high interest rates and with shorter repayment cycles, which are now placing considerable strain on the state's financial resources. Seeks extension of repayment tenure During a meeting with REC CMD Jitendra Srivastava in Delhi, Irrigation Minister N Uttam Kumar Reddy also urged the corporation to extend repayment tenure, which he said would provide the state with much-needed fiscal flexibility to continue its developmental agenda.
Hans India
31-07-2025
- Business
- Hans India
TG seeks lower interest rates on REC loans
Hyderabad: The Telangana government on Wednesday poured out its financial woes before the Rural Electricity Corporation (REC) and urged it to lower interest rates on loans taken by the previous BRS government for the Kaleshwaram Lift Irrigation Project (KLIP). Irrigation Minister N Uttam Kumar Reddy met REC Managing Director Jitendra Srivastava in New Delhi and explained the mounting financial burden on the state government due to high interest rates on the loan availed by the previous government for KLIP. The then BRS government had borrowed Rs 16,000 crore from REC at high interest for irrigation projects, the irrigation minister said, adding that the Congress government has been facing a big difficulty to repay the loans with high interest rates. In some instances, the government could not repay loans due to paucity of funds and received notices from the REC, Reddy explained. REC, a Central government agency, has recently issued a notice to the state government for not paying the installment amount of Rs 1,393 crore towards loans borrowed by the Kaleshwaram Irrigation Project Corporation Limited (KIPCL) and Telangana State Water Resources Infrastructure Development Corporation (TSWRIDC). The REC also warned that loans availed by both the corporations would be declared NPAs (non-performing assets) if the state government failed to clear the dues. In a letter to Irrigation Secretary Rahul Bojja, REC Executive Director Jithin Kumar stated: 'There is a total overdue of Rs 1,393.65 crore of which Rs 319.74 crore and Rs 292.75 crore are critical dues of TSWRIDC and KIPCL, respectively. If dues are not cleared on or before June 28, it will lead to slippage of both accounts into the NPA category'. Furthermore, Jithin said both the borrower accounts were already classified as Stage-2 category under the Reserve Bank's NPA norms. This delay in serving the dues will have a negative impact on the financial record and rating of the utilities and the state, he remarked. At the time of availing the loan, the state government has agreed to repay the loan amount in monthly installments. Officials said that the REC already expressed serious concerns over the poor condition of the project after three barrages - Medigadda, Annaram and Sundilla - suffered damages. The delay in repayment will create more problems, they added. Responding to the Irrigation Minister's plea, the REC CMD said that the Centre will consider the state government's request and provide a relief from the burden of the payment of loans with high interest rates.
India Today
21-06-2025
- Health
- India Today
From stress to strength: The rise of yoga in corporate life
In today's fast-paced and hyper-connected world, stress in the workplace is no longer occasional—it is chronic, systemic, and quietly damaging. The boundaries between work and life have blurred, making recovery time scarce and fatigue to ASSOCHAM, nearly 43% of corporate professionals in India suffer from lifestyle diseases directly linked to stress. A separate survey revealed that 70% of Indian employees experience workplace stress at least once a week. India Today spoke with Mr. Jitendra Srivastava, CEO of Triton Logistics & Maritime, to understand how yoga is quietly transforming from a wellness trend to a cultural and performance-defining tool in India's corporate isn't just a public health concern—it's a business-critical A TIMELESS SCIENCE FOR MODERN WORKPLACESYoga is not merely a fitness routine. It is a deeply integrated science of life, cultivated over thousands of years, that addresses physical, mental, and emotional health together. Unlike conventional wellness perks like gym memberships or one-off health talks, yoga provides sustainable relief by addressing the root causes of corporate burnout—information fatigue, poor posture, lack of self-regulation, and emotional overload. Even brief yoga sessions are proven to lower cortisol levels, improve blood pressure, and promote neuroplasticity. These effects ripple into productivity, decision-making, interpersonal dynamics, and overall team benefits extend far beyond flexibility or mindfulness. For working professionals, regular practice enhances posture, sleep, digestion, and energy—all of which are undermined by long hours at a desk. Intellectually, yoga builds clarity and focus. Emotionally, it fosters resilience, patience, and internal transformations create outward business impact: reduced sick leaves, higher engagement, better teamwork, and stronger leadership. As Srivastava noted, yoga nurtures the mental clarity and emotional steadiness required for effective decision-making, especially in high-stress industries like democratises wellness—it is low-cost, scalable, and doesn't demand specialised equipment. That means it can reach all levels of the organization, across departments, age groups, and seniority YOGA INTO EVERYDAY WORK CULTUREThe biggest hurdle is not belief but integration. Many corporate wellness programmes fail because they feel like interruptions, not seamless parts of the implementation begins with accessible formats: digital libraries of yoga sessions, short guided meditations, and even bite-sized 'Yoga for 3 PM Slumps' videos. By embedding 5–7-minute desk yoga sessions directly into calendars, companies can gently encourage daily also helps—initiatives like "Wellness Wednesdays" or monthly yoga challenges spark team spirit and healthy habits. Virtual group classes, personalised guidance during stressful seasons like audits, and two-minute grounding exercises before meetings all help normalise yoga as part of professional points out that simple tools like yoga mats and ergonomic chairs, sent as part of a wellness kit to remote employees, ensure that no team member is left out of this transformation. Assigning wellness ambassadors within teams can sustain this culture from the PERKS: YOGA AS A LEADERSHIP TOOLadvertisementYoga isn't just for entry-level or mid-career employees. As global data shows, even leadership is not immune to burnout, sleep loss, and emotional fatigue. In such scenarios, yoga becomes more than wellness—it is strategic leadership training. It fosters emotional intelligence, improves conflict resolution, and promotes non-reactive high-stakes industries, this shift in mindset is essential. Srivastava emphasised how yoga has helped build a team culture rooted in clarity, stronger execution, and less emotional volatility under hybrid work becomes the norm and AI takes over technical skillsets, the human elements—like creativity, presence, and empathy—become the true differentiators. Yoga trains individuals in precisely these traits, making it not only culturally relevant but economically as the birthplace of yoga, has the unique opportunity to lead this corporate well-being revolution. And as Srivastava remarked, integrating yoga into daily work isn't just about staying healthy—it's about staying is no longer a fringe wellness add-on; it is a foundational shift in how modern companies view health, leadership, and long-term performance. It doesn't just shape the individual—it reshapes entire International Yoga Day, let's not simply celebrate India's ancient gift to the world. Let's recognise its power to transform today's boardrooms, balance sheets, and breakrooms. A centred employee isn't just calmer—they're also sharper, more focused, and ready for whatever comes next.
Indian Express
19-06-2025
- Business
- Indian Express
Kandla port congestion may cause edible oil shortage: Traders to Govt
Traders have warned of edible oil shortages in local markets and supply disruptions as several vessels — mainly carrying Indonesian crude palm oil — remain stranded at Kandla Port, awaiting cargo unloading amid 'heavy congestion'. India is the world's largest importer of palm oil, with monthly imports totalling 750,000 tonnes. Kandla is a key port that supplies major refineries catering to western and northern India. In letters to the government, the Solvent Extractors' Association of India (SEA), representing key stakeholders in the edible oil industry, has said that only two vessels with a combined capacity of 45,000 tonnes are currently discharging cargo, while as many as eight vessels carrying 157,000 tonnes — are waiting for berths. The congestion is particularly concerning as five more vessels, with a total capacity of 159,000 tonnes, are expected to arrive within the next week, it has said. When contacted, Sushil Kumar Singh, Chairman of Deendayal Port Authority (DPA), Kandla, told The Indian Express: 'The congestion is the result of a sudden surge in edible oil vessel arrivals after import duties were reduced in May. At present, six edible oil and six chemical vessels are waiting at anchorage. The average waiting time is 8-10 days. We've tightened operational protocols and are working to address the issue as efficiently as possible.' This comes amid sharp fluctuations in palm oil prices. Traders typically increase purchases when prices drop. Last month, India's palm oil imports hit a six-month high, driven by low domestic inventories and a favourable price gap compared to soybean and sunflower oils, Reuters reported. However, palm oil futures have since surged following the US's proposal to raise biofuel blending mandates. The SEA has warned that the waiting period could increase to 15–20 days, based on the expected vessel line-up. Such prolonged delays 'could lead to a scarcity of edible oil in the local market, impacting the supply chain,' it has said. 'The situation has further deteriorated, as Kandla Port has resorted to pulling out edible oil vessels mid-discharge. In the past week alone, three such vessels — each with just 1,000 to 3,000 tonnes of cargo remaining — have been withdrawn or shifted from berths,' the SEA said in a letter to the Ministry of Consumer Affairs, Food and Public Distribution on June 16, following up on an earlier communication sent on June 11. The congestion has wide-reaching implications as the extended waiting periods are incurring significant demurrage costs, thereby increasing overall import expenses and pushing up edible oil prices for consumers. Jitendra Srivastava, CEO of Triton Logistics & Maritime, said the congestion of shipments at Kandla Port reinforces the need to upgrade India's port infrastructure and optimise maritime logistics at the earliest. 'With vessel wait times reaching up to 48 hours, the ripple effects are felt across the entire supply chain, from exporters to consumers. As trade volumes continue to escalate, there is a pressing need for ports across the country to incorporate smart technologies, automate, and improve berthing and cargo handling capabilities to sustain future demand,' Srivastava said. 'Principal solutions include improved vessel traffic control, enhanced inter-agency coordination, and investment in technological aids such as predictive analytics to enable more effective port flow management. Upgrading berths, modernising the container terminal, and developing warehousing space are equally important to avoid bottlenecks and achieve faster turnaround times,' Srivastava said. 'As per port norms, any vessel pulled out for any reason can only be re-berthed after three days – which, in practice, can take 3-5 days — along with additional port charges for de-berthing, re-berthing, pilotage and other marine services. Meanwhile, the vessel accrues demurrage by the hour and once under demurrage, it continues to incur charges. Ironically, this practice does little to ease the congestion,' SEA said. Total oil imports have fallen over the past seven months. Between November 2024 and May 2025 — the first seven months of the 2024–25 oil year — vegetable oil imports stood at 7,884,768 tonnes, down 9 per cent from 8,678,447 tonnes during the same period last year, SEA noted. Ravi Dutta Mishra is a Principal Correspondent with The Indian Express, covering policy issues related to trade, commerce, and banking. He has over five years of experience and has previously worked with Mint, CNBC-TV18, and other news outlets. ... Read More
Time of India
09-05-2025
- Business
- Time of India
REC to provide about Rs 2.5 lakh cr finance for renewable energy projects till 2030
New Delhi: State-owned non-banking finance firm REC Ltd will increase its exposure to renewable energy projects by about ₹2.5 lakh crore in next six years to aid India's target of having 500 GW of non-fossil fuel energy by 2030. REC currently has an exposure of about ₹53,000 crore in renewable energy projects with a total loan book of ₹5.67 lakh crore as on March 31, 2025. The company has planned to achieve a loan book of ₹10 lakh crore including ₹3 lakh crore exposure in renewable energy project by 2030. Renewable energy is a key area where the company will focus in the coming six years in view of nation's ambitious target of having 500 GW renewable energy by 2030. Talking to PTI, REC Chairman and Managing Director Jitendra Srivastava said, "Currently, our loan book stands at around 5.67 lakh crore. and we are trying to aim for a loan book of 10 lakh crore by 2030. Out of this, we would like to see the renewable sector touching around 3 lakh crore, which is currently around ₹52,000 crore to ₹53,000 crore. So we are hopeful. We would like to push the sector." He said the company will be fairly aggressive in the renewable energy sector. India's installed renewable energy capacity is about 220 GW as of March 31, 2025, which includes around 48 GW large hydro power project, over 50 GW wind energy and about 106 GW solar projects. India needs to add 50 GW of renewable energy capacity per annum till 2030 to achieve the target of 500 GW. Thus the nation needs a lot of investment and finance facility to achieving this tall order. The government has appointed REC as the nodal agency for implementing roof-top solar scheme ' PM Surya Ghar Yojana '. About the progress on the scheme, Srivastava said, "We have a target of 1 crore households for PM Surya Ghar Yojana, out of which 51 lakh applications have come in. Out of this, 12 lakh people have already received it and we are trying to complete our target of 1 crore households in next two years." About reducing the net credit impaired assets or bad loans, he stated that the company is targeting zero bad loans this fiscal, which has already been brought down to 0.38 per cent from 0.86 per cent a year ago. He also informed that there are 12 cases of bad loans and the company is working on them.
