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In Telangana, a sharp decline in core engineering program seats has led many faculty members to take on unexpected jobs. Since 2020, over 70% of seats in traditional engineering fields have disappeared, impacting experienced professors, who now often rely on work as delivery drivers or street vendors. Once earning monthly salaries of Rs 40,000 to Rs 1.5 lakh, these educators now manage with daily earnings between Rs 500 and Rs 1,000.
Engineering education in the state has increasingly pivoted toward technology-focused fields. Out of 86,943 seats, 61,587 are allocated to computer science and related disciplines, while traditional branches like civil and mechanical engineering have just 7,458 seats combined. In response to these shifts, the Telangana government recently implemented policies to curb further reductions in core engineering seats, aiming for a more balanced approach. This move intends to stabilize opportunities for faculty and students across engineering disciplines.
Odisha Chief Minister Mohan Charan Majhi announced Friday that JSW Group, India’s fastest-growing conglomerate, and South Korean steel giant POSCO will establish a greenfield steel plant in Keonjhar, his home district. This joint venture’s location had been widely speculated until Majhi’s confirmation. The collaboration was formalized through an MoU signed on October 29 at JSW’s headquarters in Mumbai, attended by JSW Chairman Sajjan Jindal and POSCO Chairman Chang In-hwa.
The partnership aims to create an integrated steel plant with an initial 5 million tonnes per annum (MTPA) capacity. Additionally, the MoU outlines potential cooperation in EV battery materials and renewable energy solutions to support the plant's power needs. The Odisha government has earmarked two land parcels in Keonjhar for the project. This marks POSCO’s renewed effort to establish a steel facility in Odisha, following its previous, halted 12 MTPA project in Paradip due to regulatory and protest-related issues.
Concerns about increasing delinquencies in credit card payments are leading banks to reduce new credit card issuances this festive season. According to Reserve Bank of India (RBI) data, new card issuances fell sharply from 920,000 in August to 620,000 in September—a decline of nearly one-third.
Year-over-year, the decline is even steeper, with new issuances down over 64 percent, bringing the total number of active credit cards to 106 million. Analysts believe this cautious approach may continue as banks remain wary of the unsecured lending sector, especially credit cards. IDBI Capital analyst Bunty Chawla noted that major issuers like HDFC Bank and SBI Cards are slowing down on new disbursements due to rising delinquencies and RBI’s risk norms. In September, HDFC Bank issued 430,000 new cards, SBI Cards 140,000, and Axis Bank 53,000, while ICICI Bank saw a modest increase of 4,000 new cards.
Adani Power Jharkhand Limited (APJL), a subsidiary of Adani Power, has reduced its power supply to Bangladesh by 50% due to unpaid dues amounting to $846 million, as reported by local media. Data from Power Grid Bangladesh PLC shows the plant cut its output Thursday night, with The Daily Star reporting the details.
This reduction adds strain to Bangladesh’s power grid, which saw an overnight shortfall of over 1,600 megawatts (MW). Currently, the 1,496 MW Adani plant is operating only one unit, producing 700 MW. Adani had previously notified the Bangladesh Power Development Board (PDB) on October 27, requesting payment by October 30 and indicating potential supply suspension per the Power Purchase Agreement (PPA) if not settled.
While the PDB has cleared some past dues, recent price adjustments by Adani have escalated costs since July. Adani has sought intervention from Bangladesh’s interim government for payment resolution.
