Page 13 - Banking Finance February 2022

ROUNDUP

ernment operations and services that This will be Amul's largest plant in and social outcomes in Asia. The bank
enhance customer happiness." He said south India with capacity to process 5 currently has 104 members, including
the government also plans to imple- lakh litres per day of milk - expandable 17 prospective members from around
ment advanced strategies to enhance to 10 lakh litres per day - to manufac- the world.
digital life in Dubai over the next five ture packed milk and value added dairy
decades. products such as curd, buttermilk, Bajaj Auto to set up Rs.
lassi, yogurt, paneer, sweets etc. 300-cr EV plant in Pune
Income Tax refunds of Rs. An MoU in this regard was signed in Bajaj Auto Ltd said it will set up an elec-
1.49 lakh crore issued this the presence of Telangana's Industry tric vehicle manufacturing facility at
Minister K.T. Rama Rao in Hyderabad.
fiscal Akurdi in Pune with an investment of
Principal Secretary, industry and Com- Rs. 300 crore.
Income Tax refunds of over Rs 1.49 merce, Jayesh Ranjan and Amul's larg-
lakh crore have been issued to 1.45 est milk cooperatives, Sabarkantha The facility, for which the work has al-
crore taxpayers so far this fiscal, the I- District Cooperative Milk Producers ready commenced, will have the ca-
T department said. Union Ltd - Sabar Dairy MD Babubhai pacity to produce 5,00,000 Electric
This includes 1.07 crore refunds of AY M. Patel signed the MoU. Vehicles (EVS) per annum and cater to
both domestic and exports markets,
2021-22 (fiscal ended March 31, 2021), the company said in a release.
amounting to Rs 21,021 crore. More Urjit Patel named vice
than 4.67 crore ITRs for the 2020-21 president of AIIB The first vehicle from the new unit,
fiscal (ended March 2021) have been spread over half-amillion square feet
filed till December 27. Former RBI governor Urjit Patel was space, is expected to be rolled out by
appointed as vice president for invest- June 2022. The unit will employ around
In a tweet, the department said In- ment operations in South Asia at the 800 personnel. Akurdi is the site of the
come Tax refunds of Rs 50,793 crore Beijing-based Asian Infrastructure In- original Chetak scooter factory.
have been issued to over 1.42 crore vestment Bank (AIIB), replacing former
entities, and corporate tax refunds of bureaucrat from Gujarat, D J Pandian. "In 2001, Bajaj 2.0 took off on the roar-
Rs 98,504 crore have been issued in ing Pulsar, in 2021, Bajaj 3.0 arrived on
over 2.19 lakh cases. He succeeds D Jagatheesa Pandian, a the charming Chetak. Going forward,
Gujarat cadre IAS officer who retired for the Bajaj portfolio, except for
"CBDT issues refunds of over Rs as chief secretary of the state six years implementing one state-of-the-art ICE
1,49,297 crore to more than 1.45 crore back. He was head of the Gujarat State (Internal Combustion Engine) platform
taxpayers from 1st Apr 2021 to 27th Petroleum Corp (GSPC) when that is currently under development,
December 2021," the I-T department Narendra Modi was the chief minister all our R&D drive train resources are
tweeted. of Gujarat. now laser focused on creating EV solu-
"AIIB's Board of Directors has ap- tions for the future.
Amul to set ups Rs. 500-
pointed Dr Urjit Patel to the position "This alignment reflects our belief that
crore dairy in Telangana of Vice President for Investment Op- light electric vehicles for sustainable

Amul announced setting of their larg- erations Region 1 - South Asia, the urban mobility is an idea whose time
est state-of-the-art plant in Telangana Pacific Islands and South East Asia," the may finally have come," Rajiv Bajaj,
with an investment of Rs 500 crore in statement said. Managing Director of Bajaj Auto, said.
two phases. Patel, 58, was the 24th governor of the

The plant will come up in a special food Reserve Bank of India (RBI), succeed- NHAI toll revenue to jump
processing zone with an investment of ing Raghuram Rajan on September 5, to Rs. 1.40-lakh crore in
2016. Patel had abruptly resigned in
about Rs 300 crore in first phase and
December 2018 citing "personal rea- three years
Rs 200 crore in second phase. It will
provide direct employment to more sons". Toll revenue of the NHAI will soar to
than 500 persons and opportunities to AIIB is a multilateral development Rs 1.40 lakh crore per annum in the
several ancillary industries. bank that aims to improve economic next three years from Rs 40,000 crore

BANKING FINANCE | FEBRUARY | 2022 | 13