MAY 20249TOP STORIESINDIAN RAILWAYS ON TRACK TO COMPLETE 100 CARGO TERMINALSThe Indian Railways is on track to surpass its goal of establishing 100 Gati Shakti Cargo Terminals (GCT) ahead of schedule. As per officials familiar with the progress, 60 terminals operating under the public-private partnership (PPP) model are already up and running, with the remaining 40 expected to be operational by the end of the current fiscal year.These terminals play a crucial role in handling bulk cargo for businesses interconnected with the Indian Railways. They focus on non-passenger commercial activities such as freight transportation and are established under a new policy aimed at leveraging unused railway land for monetization.Once 100 terminals are operational, the target for Gati Shakti Terminals will be increased to 200, according to a senior official.The government had initially aimed to establish 100 Gati Shakti Terminals within a five-year period, as outlined in the Union Budget 2022-23.In response to inquiries about freight priorities for the Indian Railways, the official emphasized the importance of prioritizing heavy goods like coal and cement over lighter goods such as electronics and clothing. The focus is on increasing containerization for lighter goods to enhance operational efficiency and speed up handling processes.Currently, heavy goods are transported via dedicated freight trains, while lighter goods are carried in smaller quantities alongside passengers. Transitioning to containerization will enable the railways to transport larger volumes of lighter goods more efficiently, leading to better-planned services. TATA MOTORS PARTNERS WITH SOUTH INDIAN BANK TO PROVIDE FINANCING SOLUTIONSOn Monday, Tata Motors announced a partnership with South Indian Bank to provide financing solutions to its commercial vehicle customers and dealerships. Under the Memorandum of Understanding (MoU), South Indian Bank will extend financing solutions across Tata Motors' entire commercial vehicle portfolio, as stated by Tata Motors in a press release.Rajesh Kaul, Vice President & Business Head Trucks at Tata Motors Commercial Vehicles, emphasized the significance of easy access to financing solutions for commercial vehicle operators. He stated, "Our alliance aims to empower fleet owners and dealerships to achieve their business goals."Tata Motors offers a wide array of commercial vehicles, ranging from sub 1-tonne to 55-tonne cargo vehicles and 10-seater to 51-seater mass mobility solutions, covering small commercial vehicles, pickups, trucks, and buses.P R Seshadri, Managing Director & CEO of South Indian Bank, expressed enthusiasm about the collaboration, stating, "Our partnership with Tata Motors enables us to provide seamless vehicle financing solutions to commercial vehicle dealers and customers."
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