nanika Editor - The Purbottar

08 Sep

S&P Rates Bank of India ‘BBB’, Cites Solid Funding and Government Support

nanika EditorBanking

S&P Global Ratings has assigned Bank of India (BoI) a ‘BBB’ long-term issuer credit rating and an ‘A-2’ short-term rating, citing the bank’s adequate capitalisation, solid funding and healthy liquidity. The ratings agency said the long-term rating is one notch above BoI’s stand-alone credit profile, reflecting the likelihood of extraordinary government support if required. S&P highlighted BoI’s important role as a public sector bank in promoting financial inclusion and noted that majority government ownership and control provide strong links between the bank and the government. The agency said the bank’s solid deposit base, supported by customer confidence in its government…

07 Sep

Blackstone in Talks to Buy Fairfax Stake in IIFL Finance

nanika EditorBusiness

Blackstone Inc. is among the global investment firms reportedly considering the acquisition of Fairfax Financial Holdings’ stake in IIFL Finance Ltd., as Fairfax weighs exiting the Indian non-bank lender to comply with regulatory requirements linked to its proposed acquisition of IDBI Bank. Fairfax, founded by Indian-born Canadian billionaire Prem Watsa, held a 15.2% stake in IIFL Finance as of June 30, with the company valued at around $2.9 billion. According to people familiar with the matter, Blackstone is in discussions with Fairfax and other shareholders, although the plans remain preliminary and could change. The potential transaction comes as India’s financial…

05 Sep

Health Officials Review Nagaland’s TB Elimination Roadmap

nanika EditorNagaland

Nagaland’s State TB Cell under the Directorate of Health and Family Welfare held its quarterly review meeting for the National TB Elimination Programme (NTEP) on September 3 in Kohima, reviewing progress and strengthening strategies to accelerate tuberculosis elimination in the state. State TB Officer Dr Akum Jamir outlined ongoing NTEP initiatives and the 100 Days Campaign, stressing the importance of continuous screening, early diagnosis and systematic treatment. He noted that tuberculosis remains a major public health challenge, with India accounting for around 28 per cent of the global TB burden, and emphasised the need for stronger implementation at the state…

04 Sep

NTC Urges Government Action as Dimapur-Kohima Rail Link Costs Surge Sevenfold

nanika EditorNagaland

The Nagaland Tribes Council (NTC) has raised serious concerns regarding the prolonged delay and massive cost escalation surrounding the Dimapur-Kohima (Zubza) rail link project, urging the state government and parliamentarians to press central authorities for its immediate completion. In a statement issued by NTC President C. Pankathung Lotha and General Secretary C. Onen Walling, the council highlighted findings from a recent Public Accounts Committee (PAC) parliamentary report which revealed that despite being initiated in 2006–07 with an initial estimate of Rs 850 crore, the project had achieved under 25% physical progress while expenditures soared past Rs 6,663.20 crore by May…

03 Sep

GIFT IFSC Sees Sharp Rise in Foreign Currency Financing

nanika EditorBanking

Indian banks operating through International Banking Units (IBUs) at GIFT City’s International Financial Services Centre (IFSC) have sanctioned loans worth $54.02 billion under the Reserve Bank of India’s swap facility for FCNR(B) deposits as of August 31, 2026. The amount has risen sharply from $4.1 billion sanctioned by 14 IBUs on July 15, reaching $18.87 billion by July 31 and accelerating to $54.02 billion by the end of August, with 20 IBUs now participating in the scheme. The rapid increase highlights growing demand for foreign currency funding through GIFT IFSC and the expanding role of its financial services infrastructure. IBUs…

02 Sep

‘Red Card to Child Labour’: Mokokchung Campaign Promotes Safe Childhood

nanika EditorNagaland

The District Task Force (DTF), Mokokchung, has launched the Pan India Rescue & Rehabilitation Campaign 4.0 to strengthen efforts against child labour and promote children’s rights and safety. Held in commemoration of World Day Against Child Labour, the campaign ran from June 12 to August 31 under the theme “Red Card to Child Labour—Fair Play for Children, Decent Work for Adults.” The initiative began with poster campaigns and sensitisation programmes aimed at workers, business proprietors and the general public, highlighting the harmful effects of child labour and the importance of keeping children away from hazardous and unsafe work environments. As…

01 Sep

Sikkim Extends Helping Hand to Nepal Amid Floods and Landslides

nanika EditorSikkim

Sikkim Chief Minister Prem Singh Tamang on Monday flagged off the ‘Sikkim for Nepal’ relief mission, sending a team of around 35 medical personnel, rescue workers and volunteers to flood- and landslide-affected areas of Nepal. Organised by the Sikkim Krantikari Morcha (SKM), the mission will deliver essential supplies, including medicines and food, while providing medical and rescue assistance to communities affected by the disaster. Describing the initiative as a reflection of compassion, humanity and regional brotherhood, Tamang said Sikkim had come forward to stand with the people of Nepal during the difficult period. He stressed the importance of unity and…

31 Aug

Piramal Finance Bolsters Retail Growth and Capital Base with Successful ₹2,100 Crore QIP

nanika EditorFinance

Piramal Finance has successfully raised ₹2,100 crore through a qualified institutional placement (QIP), pushing its total fundraise to ₹3,850 crore as the non-banking financial company (NBFC) moves to strengthen its capital base and accelerate retail-led growth. The QIP saw strong participation from a diverse pool of institutional investors, including prominent domestic mutual funds such as ICICI Prudential, Nippon India, Kotak, Quant, Axis, Motilal Oswal, Tata, Franklin Templeton, and Aditya Birla Sun Life, alongside global asset managers BlackRock, Goldman Sachs Asset Management, and Eastspring Investments. Emphasizing its gratitude for the strong market trust, Piramal Finance stated that the fresh capital injection…

29 Aug

Infosys Working With Agencies to Trace CEO After Nepal Floods

nanika EditorBusiness

Infosys has said Lax Gopisetty, CEO of its public services business in the US and Canada, remains unreachable following the deadly floods that struck Nepal on Wednesday. According to the IT services major, Gopisetty was visiting the region in a personal capacity when the disaster occurred. In a statement, Infosys said its immediate priority is to ensure his safety and wellbeing and that it is working with relevant agencies to gather information and establish contact. The company added that it remains in close communication with Gopisetty’s family and is providing all necessary support during the difficult situation. Infosys also expressed…

28 Aug

MP Supongmeren Jamir Inspects Kohima Railway Counter, Calls for Infrastructure Upgrades

nanika EditorManipur

Lok Sabha MP S. Supongmeren Jamir visited the railway ticket counter at the Multi-Level Parking in Kohima on August 27, 2026, to review its operations and address key infrastructure and service bottlenecks facing Nagaland passengers. Emphasizing the facility's critical role in providing direct reservation access, Jamir criticized the use of outdated equipment provided by the Railway Ministry and pledged to advocate for immediate technical upgrades. A primary concern raised during the visit was the inadequate reservation quota assigned to Nagaland passengers on key trains passing through Dimapur Railway Station, such as the Shatabdi and Nagaland Special. Jamir argued that despite…