Latest news with #SocialResponsibility
United News of India
11-06-2025
- Business
- United News of India
Kitex skips Kerala, plans to invest Rs 4000 crore in Andhra
Kochi, June 11 (UNI) After a war of words erupted between CPI(M)-led Left Government and Kitex Managing Director Sabu Jacob over existing industry climate in the State, the company expresses interest to invest Rs 4000 crore in Andhra Pradesh. Kitex, one of world's largest infant clothing manufacturers, which has already invested 3,600 crore in Telangana, shows interest in Andhra Pradesh seeing the availability of large quantities of cotton. Other infrastructure facilities including road, air and rail connectivity are also an attraction for setting up an export-oriented garment production unit in Andhra Pradesh, company sources said. A few days ago, in a scathing attack against CPI(M)-led LDG Government for its alleged unfriendly attitude towards industries in Kerala, Kitex MD Sabu Jacob said he was forced to skip Kerala due to harassment from the Left Government. "My Rs 3500 crore business was shifted from Kerala to another south Indian state. My company was raided multiple times in a month proving CPM attitude towards investors and showing lack of Government support in Kerala. But, they could not find any violation of law," the Kitex MD told newspersons. He was responding to Industry Minister P Rajeeve's comment that "Kitex owner is still in Kerala where he established and flourished his business. Though, the Kitex MD has announced launching of his companies in Andhra, but it did not materialize," he added. Sabu Jacob alleged that the Industry Minister was trying to hide the ground reality in Kerala. Sabu Jacob founded Twenty-20 in 2013 to implement Corporate Social Responsibility initiatives of the company in Kizhakkambalam, the eastern suburb of Kochi. The long-term objective of Twenty-20 is to make Kizhakkambalam a model of sustainable development, replicable anywhere in India. In November 2015 Twenty-20 managed to win local body elections with 69 percent vote share. Development initiatives were carried out by Twenty-20 through housing projects, drinking water projects, health, agriculture, education, employment opportunities, green initiative, anti-corruption, infrastructure, schools, supplementary diet, anti alcohol movement, environmental protection activities and women empowerment. UNI DS GNK
Mint
09-06-2025
- Business
- Mint
Who is Sashidhar Jagdishan? The top banking executive facing financial fraud allegations from Lilavati Trust
The Mehta family filed an FIR against HDFC Bank's Managing Director and Chief Executive Officer (CEO) Sashidhar Jagdishan after the Lilavati Trust allegations on Sunday, 8 June 2025, according to an exchange filing. According to the bank's filing on BSE, HDFC Bank's senior officials are currently being targeted by unscrupulous persons who aim to abuse the legal process of recovering a long-outstanding loan from a defaulter named Splendour Gems Ltd. The bank called the 'frivolous' FIR action 'malicious and baseless' on Sunday. The MD and CEO of HDFC Bank, Sashidhar Jagdishan took charge in 2020, replacing India's longest-serving CEO Aditya Puri. In 2023, the Reserve Bank of India approved his re-appointment for a period of three more years and he will remain at the post till 26 October 2026. Fondly known as Sashi, Jagdishan has been a part of the HDFC Bank since 1996. He joined the bank as a manager in the finance division in 1996 and went on to become the finance head in 1999. Subsequently, he was appointed as the chief financial officer of HDFC Bank in 2008. "Sashi has played a critical role in supporting the growth trajectory of the bank," the lender stated. Prior to his appointment as Managing Director & Chief Executive Officer of the Bank, he was the Group Head of the Bank in addition to overseeing the functions of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate Communications and Corporate Social Responsibility. He was named as the "strategic change agent" of the bank in 2019. With two-decade long experience, Jagdishan oversees the functions of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate Communications and Corporate Social Responsibility. "He has led the finance function and played a pivotal role in aligning the organisation in achieving the strategic objectives over the years," the bank mentioned. After graduating in physics, Jagdishan pursued his master's degree in economics, before becoming a chartered accountant by profession. Jagdishan holds a Bachelor of Science degree in physics from the University of Mumbai and a masters in economics of money, banking and finance from the University of Sheffield, UK. He is also a Chartered Accountant from the Institute of Chartered Accountants of India.
Time of India
25-05-2025
- Business
- Time of India
IIFL Finance gets RBI approval to open branches in Jammu & Kashmir
IIFL Finance has secured regulatory approvals to open branches and extend credit services in Jammu & Kashmir, aiming to provide crucial financial access to underserved communities. This initiative supports the revival of small businesses and households, complementing IIFL's existing CSR activities in the region focused on education, healthcare, and community empowerment. Tired of too many ads? Remove Ads NBFC firm IIFL Finance has said it has received the necessary regulatory approvals for opening branches and expanding its credit services to the Union Territory of Jammu & Kashmir . This approval is a timely step towards delivering essential financial services in unbanked and underbanked areas, where access to formal credit has historically been limited, IIFL Finance said in a on the development, IIFL Finance founder and MD Nirmal Jain said, "The management decision to commence operations in Jammu & Kashmir reflects our long-standing commitment to bringing financial access to unserved and underserved communities. The approval to open branches comes at a critical time when people in the region have been facing disruptions in their livelihoods."By offering credit solutions tailored to local needs, he said, IIFL Finance aims to support the revival of small businesses and support households in the presence in Jammu & Kashmir complements its Corporate Social Responsibility activities in the state, including ongoing programs in Kupwara, Baramulla, Srinagar, and other areas that focus on education, skill development, healthcare and community empowerment. IIFL Foundation has been present in Kashmir for over a decade. It initially supported with incubator machines at the LD Hospital during the Kashmir floods, it added.
