Business Standard's opinion pages this week focused on Project Cheetah, Telecom Bill, Ukraine versus the ex-Soviet economies, and much more

BS Views of the week: Project Cheetah, Telecom Bill, Ukraine Oligarchs, and more

Jio Financial Services Ltd (JFSL) on Wednesday said it has acquired the entire 17.8 per cent stake of State Bank of India in Jio Payments Bank Ltd for a consideration of Rs 104.54 crore.
With the stake buy, Jio Payments Bank becomes a wholly-owned subsidiary of JFSL.
The company acquired 7,90,80,000 equity shares of Jio Payments Bank from SBI for an aggregate consideration of Rs 104.54 crore pursuant to the approval received from Reserve Bank of India on June 4, JFSL said in a regulatory filing.
Consequent to this acquisition, Jio Payments Bank has become a wholly-owned subsidiary of the company, it said.
Prior to stake buy, Jio Financial held an 82.17 per cent stake in Jio Payments Bank.

The company acquired 7,90,80,000 equity shares of Jio Payments Bank from SBI for an aggregate consideration of Rs 104.54 crore

Vedanta offloads 66.7 million HZL shares for ₹3,028 crore via book-building; to use funds for balance sheet strengthening and demerger into sector-specific entities

The upcoming Xbox will support multiple devices, third-party game stores, and backward compatibility. Built on Windows and powered by AMD, it marks a shift to an open and unified gaming ecosystem

While revenue growth from AI is still marginal, the larger question is how the industry can reinvent itself when one of its largest revenue pools becomes less labour-intensive

The Uttar Pradesh government on Wednesday said it will use cutting-edge Swiss technology to improve ride quality on expressways in the state.
Building on the "world-class ride comfort" already validated on the Gorakhpur Link Expressway through advanced testing by ETH Zurich, the state will now deploy the same AI-based systems on the Ganga, Bundelkhand, Agra-Lucknow, and Purvanchal expressways, it said in a statement.
"In a pioneering move, the Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) has initiated a comprehensive assessment and improvement drive for expressway riding comfort. This involves cutting-edge vibration and AI-based technologies developed by ETH Zurich and its independent spin-off company, RTDT Laboratory AG," the government said.
"For this purpose, seven high-precision sensors -- four for assessing riding quality and three for monitoring motion -- were installed in an Innova vehicle. These include accelerometer-based and S-motion sensors, as well

The government said that UPEIDA has set a goal to inspect and improve the riding experience of every lane on all major expressways in the state using this technology

President Droupadi Murmu on Wednesday said that the corporate sector is a key pillar of the nation's economic growth and development.
While addressing officer trainees of the Indian Corporate Law Service, she noted that their decisions would influence not only policies and regulations but also the trust that citizens and investors have in the country's institutions.
As officers entrusted with the implementation and enforcement of corporate laws, "your role will be central in nurturing a business environment that is transparent, accountable, and conducive" to innovation and entrepreneurship, the President said.
"The corporate sector is a key pillar of our nation's economic growth and development," Murmu told the trainees, who had called on her at the Rashtrapati Bhavan here.  Referring to the Companies Act of 2013, she highlighted their responsibility to ensure that the law is not only enforced but also understood, respected, and applied in a way that promotes justice, fairness, and 

Addressing the trainees, she asserted that quality in military aviation is not just about meeting technical specificationsit is about ensuring operational safety, mission preparedness, reliability

The Mumbai Metropolitan Region Development Authority (MMRDA) on Friday presented a Rs 40,187 crore-budget for the megapolis.
Infrastructure spends across projects have been pegged at Rs 35,151 crore or 87 per cent of the overall expenditure, as per an official statement. The revenues have been estimated at Rs 36,939 crore, and the body chaired by Deputy Chief Minister Eknath Shinde will be borrowing Rs 22,000 crore.
This will result in a budget deficit of Rs 3,249 crore, which the body plans to bridge through land sales, issuance of bonds, financial assistance from the government, and loans from financial institutions, the statement said.
The ongoing metro line projects have been earmarked Rs 10,969 crore of expenditure in the new fiscal, which is a fourth of the overall expenditure..
Over Rs 5,697 crore have been allotted for multiple tunnel projects which are going across the megapolis, with Rs 2,684 crore earmarked for the four-lane road running under the Sanjay Gandhi National 

Infrastructure spends across projects have been pegged at Rs 35,151 crore or 87 per cent of the overall expenditure, as per an official statement

The Rajya Sabha on Thursday returned the Finance Bill 2025 to the Lok Sabha, along with 35 government amendments, including one that abolishes a 6 per cent digital tax on online advertisements, thus completing the 2025-26 budgetary exercise that started on February 1.
The House also returned the Appropriation Bill (3) with a voice vote.
Earlier in the day, Finance Minister Nirmala Sitharaman had moved the two bills in the House.
The Lok Sabha had passed the Finance Bill on March 25 and passed the Appropriation Bill on March 21.
Replying to the debate later in the evening, she said the tendency of the finance ministry would be to exercise caution and not let go of revenues.
"But, here we wanted to use this opportunity to show our respect for Indian taxpayer. We have moved towards setting Rs 12 lakh as threshold up to which no one will have to pay any tax," Sitharaman said.
The Union Budget 2025-26 envisages a total expenditure of Rs 50.65 lakh crore, an increase of 7.4 per cent ov

The Union Budget 2025-26 envisages a total expenditure of Rs 50.65 trillion, an increase of 7.4 per cent over the current fiscal

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Celebrity and Travel Photographer Rahul Lokare from Flamingo Productions creates waves of change in the world of photography.

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BS Views of the week: Project Cheetah, Telecom Bill, Ukraine Oligarchs, and more

Business Standard's opinion pages this week focused on Project Cheetah, Telecom Bill, Ukraine versus the ex-Soviet economies, and much more

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