MAM
SBI General Insurance ropes in Paritosh Tripathi as the new MD & CEO
Mumbai: SBI General Insurance Company has announced the appointment of Paritosh Tripathi as its new managing director & chief executive officer. He was nominated by the parent company, the State Bank of India for the position. He officially took in-charge of the position from 5 July 2022.
He succeeds P.C. Kandpal, who has been posted as DMD (P&RE) at the corporate center, State Bank of India. He is now in-charge of the SBI General Insurance’s overall business strategy & growth, operations, budgets, and strategic growth.
Tripathi brings with him over 32 years of rich and diverse banking experience. In the first half of his banking career, he had worked primarily in the MSME and mid-corporate segment, whereas in the latter part of his career he primarily worked in International Banking and Bancassurance.
Before joining SBI General Insurance, he was the GM operations, Internal Banking Group with State Bank of India and was also on the Board of Sterling Bank, Nigeria and SBI Canada. From 2017 to 2020, he was Head Bancassurance, firstly with SBI Mutual Fund and then with SBI General Insurance. Prior to that, he was Head FI Relationship (East Asia) in Hong Kong and CEO SBI DIFC Branch in Dubai. Before taking up these international roles, he was with SBI Delhi Circle where he handled various assignments in the bank.
MAM
Karnataka clears Rs 4,824 crore investment projects across 13 districts
37 new industries approved, projects expected to create 14,525 jobs.
MUMBAI: If investment is the fuel of economic growth, Karnataka has just stepped on the accelerator. The Government of Karnataka has approved industrial projects worth Rs 4,824.31 crore, a move expected to generate 14,525 new employment opportunities across the state, according to a report by Press Trust of India. The approvals were granted during the 158th meeting of the Karnataka State Level Single Window Approval Committee, chaired by state industries authorities.
Karnataka industries minister M B Patil said the committee cleared 37 new industrial proposals and two additional investment projects spread across 13 districts, including Vijayapura, Bagalkote, Chitradurga, Kolar and Ramanagara.
The projects span a wide range of sectors such as information technology infrastructure, sugar manufacturing, technical textiles, compressed biogas, aerospace, jewellery manufacturing, electronics, software services and hospitality, including five star hotel development.
Patil said the diverse mix of industries reflects Karnataka’s strategy of attracting investments across both traditional manufacturing sectors and emerging technology driven industries.
Of the total proposals cleared, 22 projects fall under the large and medium industry category, each involving investments of more than Rs 50 crore.
Together, these projects account for Rs 3,908.68 crore in investment and are expected to create approximately 12,475 jobs.
Another 15 projects are classified as new industrial ventures with investments ranging between Rs 15 crore and Rs 50 crore. These projects collectively represent Rs 350.60 crore in investment and are expected to generate around 1,750 jobs.
In addition, the committee approved two further projects worth Rs 565.03 crore, which are expected to create about 300 employment opportunities.
Among the notable proposals cleared by the committee is a major information technology infrastructure development project by Bagmane Constructions Private Limited with an investment of Rs 494.65 crore.
Another significant project involves Karnataka Bangaru Sugars Pvt Ltd, which received approval to establish a sugar manufacturing facility worth Rs 443.50 crore.
In the textiles sector, Kleine Pax Ltd secured approval to set up a technical textiles manufacturing unit involving an investment of Rs 376 crore.
The hospitality sector also saw a major proposal, with Trishul Buildtech and Infrastructure Pvt Ltd receiving approval to develop a five star hotel project worth Rs 300 crore.
Meanwhile, the state also cleared a compressed biogas production facility by Troult Grass Pvt Ltd involving an investment of Rs 257.77 crore in Mudhol.
In the electric mobility segment, Tsuyo Manufacturing Pvt Ltd has been approved to set up a motor and controller manufacturing facility for electric vehicles, with an investment of Rs 250 crore.
Officials said the distribution of projects across multiple districts is expected to strengthen regional industrial development and expand employment opportunities beyond the state’s established technology hubs.
With the approvals spanning sectors from traditional manufacturing to next generation technologies, Karnataka aims to reinforce its position as one of India’s leading investment destinations while supporting job creation across diverse industries.
