The Maharashtra government has constituted a high-level committee to address road repairs, traffic congestion and management issues in the rapidly expanding Chakan industrial belt in Pune district, and set up a mechanism for time-bound redressal of industrial grievances.
The Maharashtra cabinet's sub-committee on infrastructure has approved a Rs 1,722.40 crore project for a 3.55-km road connecting the Bandra Fort end of the Versova-Bandra Sea Link with the Savarkar Sea Bridge. This project, implemented by MSRDC, aims to significantly reduce travel time between Worli, Fort, and Versova, handling approximately 3,500 cars per hour. It also includes provisions for rehabilitation and environmental mitigation.
HDFC Bank's board has imposed a monetary penalty of Rs 1 lakh each on its Managing Director and CEO Sashidhar Jagdishan, CFO Srinivasan Vaidyanathan, and Group Head (Retail Assets) Arvind Vohra for divergence from RBI directions in the Maharashtra State Road Development Corporation (MSRDC) case.
HDFC Bank's shares experienced a dip on Wednesday after a newspaper report alleged that the bank made illegal payments to the Maharashtra State Road Development Corporation to secure large deposits, raising concerns about corporate governance.
Sashidhar Jagdishan, the managing director and chief executive of HDFC Bank, has opted out of being considered for reappointment after his current term ends on October 26, choosing to retire after nearly three decades with the lender.
Sashidhar Jagdishan, the managing director and CEO of HDFC Bank, has announced his decision not to seek reappointment and will retire at the end of his current term on October 26, concluding a six-year tenure marked by significant regulatory and governance challenges, including RBI restrictions, a major merger, and scrutiny over alleged illegal payments.
Mumbai and Pune are grappling with severe monsoon weather, triggering an 'orange' alert, widespread disruptions, school closures, and tragic fatalities from landslides and wall collapses.
The Reserve Bank of India (RBI) has introduced a new framework allowing banks to offer differential interest rates on bulk deposits based on their liquidity characteristics under the Liquidity Coverage Ratio (LCR) framework, while maintaining the principle of uniform pricing across similar deposits.
HDFC Bank's share in active mutual fund schemes has fallen to multi-year lows, despite overall MF ownership in the bank rising, as the stock faces weak performance, soft margins, and governance concerns.
The Mumbai-Pune Expressway missing link is now fully operational, reducing travel time between the two cities. The Mumbai-bound carriageway opened after a delay due to dismantling of inauguration infrastructure and cleaning work. The project, dubbed an 'engineering marvel', includes tunnels, viaducts and a cable-stayed bridge.
'The sales pressure on the ground, a board and CEO not fully aligned, and a senior team that isn't pulling together -- that's when these things surface.'
'Once you're wrestling with making a merger of that scale value-accretive, you're also under pressure to keep growing the balance sheet and chasing liabilities, and other things start to slip as a consequence.'
Ten people, including a 3-month-old baby, were injured when a hydraulic crane toppled onto houses in Mumbai's Kurla East during preparations for demolition work, affecting goods train movement and damaging vehicles.
Maharashtra deputy Chief Minister Eknath Shinde on Sunday said the long-awaited 'missing link' on the Mumbai-Pune Expressway, aimed at bypassing the winding Bhor Ghat section and improving safety, will be inaugurated on May 1.
Heavy monsoon rains have severely impacted Mumbai and its surrounding areas, leading to landslides, suspension of train services, and at least 13 fatalities over the past few days. The Mumbai-Pune Expressway was also shut due to a concrete pillar collapse and waterlogging.
Police in Thane have registered a case against five individuals, including a former government employee, for allegedly transferring state-owned land using forged documents. The accused are said to have misled the registrar's office and used outdated land records to illegally transfer plots in Shahpur taluka.
Traffic on the Mumbai-Pune Expressway resumed at 1.46 am after the damaged gas tanker was shifted from the accident site, an official said.
Employees of Mumbai's BEST undertaking have launched an indefinite strike, severely impacting public transport and electricity services. The strike, called by a joint action committee, demands budget merger with BMC, settlement of dues, and implementation of the Seventh Pay Commission, among other issues. Despite court orders and MESMA invocation, the strike continues, causing widespread inconvenience to millions of commuters and electricity consumers.
Maharashtra's Chief Minister inaugurated the 'Missing Link' project on the Mumbai-Pune Expressway, designed to bypass a steep mountain pass, reduce travel time, and boost economic activity.
A landslide near Tunnel 2 on the Khopoli-Kusgaon 'Missing Link' has caused significant traffic diversions on the Mumbai-Pune Expressway.
Nida Khan, a TCS employee accused of religious conversion and sexual harassment, has been arrested in Chhatrapati Sambhajinagar. Police allege an AIMIM corporator provided her shelter. The arrest has sparked political reactions and renewed focus on workplace harassment prevention.
BEST employees continued their strike in Mumbai for a second day, causing significant disruption to public transport despite appeals from the Maharashtra Transport Minister and the invocation of MESMA. Commuters were forced to rely on alternative, overcrowded transport options, while the striking unions maintained their demands for budget merger, improved pay, and absorption of contractual workers.
A series of decisions were taken under the Public Health Department, including an approval to increase honoraria for field-level workers engaged under the Ayushman BharatPradhan Mantri Jan Arogya Yojana and Mahatma Jyotirao Phule Jan Arogya Yojana.
The Maharashtra Highway Traffic Police have advised motorists to avoid the Mumbai-Pune Expressway until regular traffic movement is restored.
The Maharashtra State Road Development Corporation (MSRDC) said on Wednesday that aluminium nozzles, mistaken by motorists as nails, were temporarily used on a stretch of the Samruddhi Expressway to fill minor cracks.
A 55-year-old man died after falling into an open manhole in Mumbai during heavy rains, leading to the Brihanmumbai Municipal Corporation (BMC) suspending four officials and initiating a homicide case against the responsible contractor for alleged negligence.
Nida Khan, a TCS employee accused of religious conversion and sexual harassment, has been arrested in Chhatrapati Sambhajinagar. An AIMIM corporator is alleged to have provided her shelter. The arrest has sparked political reactions and renewed focus on workplace harassment prevention.
Confirming the development, Leader of Opposition in the legislative council Ambadas Danve of the Shiv Sena-Uddhav Balasaheb Thackeray said the boycott is a mark of protest against a "dishonest government".
Industrialist Anil Ambani met Maharashtra Chief Minister Prithviraj Chavan in the backdrop of reports that the Maharashtra State Road Development Corporation (MSRDC) was mulling a coastal road from Worli to Haji Ali and from Haji Ali to Nariman Point.
'I cannot imagine that any NSA before Ajit Doval would have given us this kind of time and this kind of engagement. They would have offered slogans, or nothing at all. That, too, tells you something.'
The Bharatiya Janata Party on Friday trounced the opposition including the Ajit Pawar-led Nationalist Congress Party and Nationalist Congress Party-Sharadchandra Pawar by winning decisive mandates in Pune and neighbouring Pimpri Chinchwad in the civic polls, retaining power in both municipal corporations.
The 40-metre-long crack was detected near Fatiyabad village on chainage 443/650, a release from the Maharashtra State Road Development Corporation said.
The Maharashtra cabinet has approved the mandatory use of FASTag for toll collection across the state from April 1. This move is expected to streamline administrative processes, enhance transparency, and reduce congestion at toll plazas. The cabinet also approved revisions to the Rules of Business, streamlining administrative functioning and making it more efficient. The revisions include provisions related to matters to be presented before the cabinet, cases requiring approval from the Chief Minister or Governor, and procedures for meetings of the cabinet and council of ministers.
The Maharashtra municipal elections showed a troubling shift, where votes were traded for cash, convictions no longer mattered, and ideology became an afterthought, observes Ramesh Menon.
Whichever combination finally emerges, Malegaon could set a record for being a town run neither by Maharashtra's ruling Mahayuti, nor by the Opposition MVA, but by a combination of two or three Muslim parties.
The Nationalist Congress Party, led by Maharashtra Deputy Chief Minister Ajit Pawar, and the Nationalist Congress Party-Sharadchandra Pawar, headed by his uncle Sharad Pawar, on Saturday released a joint manifesto for the upcoming elections to the Pune municipal corporation.
Maharashtra Deputy CM Eknath Shinde launched a veiled attack on Uddhav Thackeray, invoking characters from a film to criticize Thackeray's leadership and policies ahead of upcoming municipal elections. Shinde highlighted government initiatives and defended his position, while also criticizing the opposition's performance.
The Supreme Court has suggested that the National Highway Authority of India (NHAI) consider establishing gaushalas (cowsheds) under Corporate Social Responsibility (CSR) to care for stray animals entering highways. The court also expressed dissatisfaction with several states' efforts to manage stray dog populations and suggested developing an app to report stray animal sightings.
MSRDC wants to complete this process before exploring options of arbitration and termination of concession agreement signed with the RSOPL for the project.
Ajit Pawar became a ray of hope for Muslims, the only man in power who could resolve their grievances.
