Articles by Rediff Money Desk

Technology

PNB Launches Digital Solution for PM SVANidhi

New Delhi, Nov 11 (PTI) State-owned Punjab National Bank (PNB) has launched the digital solution for the PM Street Vendors AtmaNirbhar NIDHI (PM SVANidhi), among other products. These initiatives reaffirm PNBs commitment to leveraging technology to foster efficiency, and accountability across its operations, PNB said in a statement on Tuesday. The Union Housing and Urban Affairs Ministry is implementing the scheme, which was launched in 2020 with the objective of providing an affordable working capital loan to street vendors to resume their livelihoods that have been adversely impacted due to the Covid-19 pandemic. Besides, the bank also introduced end-to-end digitisation of the staff accountability portal, conduct risk framework (for employees). These products were launched by Central Vigilance Commissioner Praveen Kumar Srivastava in the presence of PNB MD & CEO Ashok Chandra, ED Bibhu Prasad Mahapatra and CVO Raghvendra Kumar, as per the statement. As part of the event, the 5th Edition of PNBs Vigilance Manual 2025 and the September 2025 issue of the quarterly magazine PNB Vigil were unveiled. Speaking on the occasion, Srivastava said, The wellbeing of our society, the growth of our economy, and the creation of livelihoods are closely tied to the support and financing provided by banks like PNB. The goal is to build a culture of vigilance where actions are driven not by fear of punishment, but by the commitment to do what is right. This culture benefits the individual, the organisation, and society at large, contributing to the growth of the bank, the economy, and ultimately, the nation, as we work towards a Viksit Bharat by 2047, it said. We are committed to driving qualitative, sustainable, and inclusive growth anchored in integrity, ethics, and transparency. Vigilance, especially preventive vigilance, plays a vital role in ensuring that progress remains aligned with strong governance and accountability. Guided by these values, PNB remains dedicated to supporting Indias development journey through trust and ethical excellence, Chandra said.

Business

Tata Power Invests in Bhutan Hydro Project

New Delhi, Nov 11 (PTI) Tata Power on Tuesday said it will invest Rs 1,572 crore for acquiring 40 per cent equity stake in a special purpose vehicle that will set up 1,125 MW Dorjilung hydro power project in Bhutan at an investment of Rs 13,100 crore. The acquisition will be done in one or more tranches for which a shareholders agreement would be executed between the company and Druk Green Power Corporation Ltd (DGPC) in Bhutan, a regulatory filing said. According to the filing, the SPV is yet to be incorporated. The acquisition will not fall under the related party transaction. However, it stated that post-acquisition, the SPV will become an associate company of Tata Power and consequently a related party. The SPV will develop the Dorjilung hydro power project at a cost of Rs 13,100 crore. This project will support the company to accelerate its clean and green energy transition. As per the terms and conditions to be agreed in the shareholders agreement, the first tranche shall be completed within 6 months. The cost of acquisition is approximately Rs 1,572 crore for 40 per cent equity stake, in one or more tranche. It will be paid in cash.

Business

Arundhati Bhattacharya on Reskilling After Retirement

New Delhi, Nov 11 (PTI) Layoffs at times tend to be a natural part of businesses adapting to market shifts, veteran banker and top boss of Salesforce South Asia Arundhati Bhattacharya said on Tuesday, urging individuals to embrace and learn new skills with vigour, and not be daunted by changes. Reflecting on her personal journey, Bhattacharya recounted that while her father after retiring at the age of 58 decided against further pursuits, she embraced new career avenues well past that age. My father retired at 58, he had already run out of energy for doing anything else. I am 12 years older than him now, and I have found a career for myself, Bhattacharya told reporters at an event. It is pertinent to mention that Bhattacharya smashed the glass ceiling in 2013 when she became the first woman to lead State Bank of India (SBI) in the banks over 200-year history. She retired from SBI in 2017 and went on to reinvent herself with a brand new career innings at the helm of cloud-based service provider Salesforce India in 2020, as Chairperson and CEO. Conferred with Padma Shri for her exceptional contributions to the field of trade and industry, Bhattacharya is currently President and CEO of Salesforce South Asia. Bhattacharya believes that India has an edge as people here are open to managing change and reskilling themselves in a way that is unmatched. Asked about the layoffs in the industry despite massive AI training drive, she said layoffs are a natural part of organisational change as companies, both traditional and new-age, reshape to adapt to market cycles. Bhattacharya encouraged individuals to respond with renewed energy and openness to change, highlighting that careers can evolve drastically over time. If you want to say there shouldnt be any layoffs at all, it doesnt work like that. You (companies) may be laying off some people in certain sunset areas and you may be recruiting in some other areas... it happens all the time, she said, adding that such shifts are as prevalent in traditional industries as they are in new-age ones. Her mantra: Bounce back with vigour, armed with new skills. It doesnt mean end of the story, you have to reshape, very often learn, unlearning, relearn, you have to apply yourself and find the best way, she said. Bhattacharya added, People have to be more open to doing new things, to change, open to the various kinds of vicissitude you see in economy and market. Unless you have openness of accepting what is coming your way and learning afresh, it is not going to be easy.