Urban Affairs News

IRCON International are set to be in focus on Tuesday after the company, in a joint venture with Badri Rai and Company, secured an Engineering, Procurement, and Construction (EPC) contract worth Rs 1,096.17 crore from the Directorate of Urban Affairs, Government of Meghalaya. The project involves the construction of a new Secretariat Complex, including campus infrastructure, in New Shillong City. IRCON holds a 26% share in the joint venture, amounting to Rs 285 crore, while BRC holds the remaining 74%. The contract has a completion timeline of 36 months.

Titagarh Rail Systems Ltd on Monday handed over its first driverless, Made-in-India trainset to Bengaluru Metro Rail Corporation's Yellow Line, marking a significant milestone in India's urban mobility journey. The company built the trainset in its metro manufacturing facility in Uttarpara in West Bengal.

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

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Senator Tim Scott (R-SC) called cryptocurrencies a “scapegoat” for the federal government’s concerns about illicit finance, according to his testimony from a Tuesday crypto hearing held by the United States Senate Committee on Banking, Housing, and Urban Affairs.

The House Financial Services Subcommittee on Digital Assets, Financial Technology & Inclusion convened the afternoon of Wednesday, November 15th, to discuss illicit activity in regards to cryptocurrency.

The Senate Committee on Banking, Houses, and Urban Affairs met on November 14th to conduct a hearing regarding oversight of financial regulators.

Bharat Electronics Limited (BEL) on Wednesday joined hands to develop an indigenous communication-based train control (i-CBTC) system, officials said. The team has commenced work at the i-CBTC lab of the Delhi Metro Rail Corporation (DMRC) and will soon develop and deploy a prototype i-CBTC product on a «designated test track» within the DMRC network, they said. With this partnership, the Delhi Metro and BEL are set to «usher in a new era of rail transportation in India», driving innovation, reducing costs, and fostering self-reliance in the field of train control signalling systems, the DMRC said in a statement. A memorandum of understanding (MoU) was signed in the presence of Vikas Kumar, Managing Director of the DMRC. «This groundbreaking partnership is aligned with the 'Make in India' initiative, championed by the Government of India under the Ministry of Housing & Urban Affairs,» the statement said.

A body of a 30-year-old man has been found at the residence of Union minister and BJP MP Kaushal Kishore in the early hours of Friday. The deceased has been identified as Vinay Shrivastava and died of gunshot, Deputy Commissioner of Police West Lucknow, Rahul Raj. According to the police, the pistol used in the shooting belongs to the minister's son, Vikas Kishore.

Stablecoin issuer Circle has loaded its arsenal to fight the ongoing regulatory crackdown on crypto. By July 1, the role of chief legal officer and head of corporate affairs will be filled by Heath Tarbert, a top attorney with a background in all three branches of the United States government.

Crypto’s public enemy number one, Sam Bankman-Fried has missed a crucial deadline to confirm his appearance at an upcoming Senate Committee hearing.

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The update is in conflict with guidance released in March of this year, which states that US listed companies which hold cryptocurrencies on behalf of users should account for those assets as a liability on their balance sheet and inform users of the risks.

Federal Reserve Chairman Jerome Powell is facing pressure from both Senate Democrats and Republicans over how chiefs of the 12 regional Fed banks and their board members are selected.

In a July 2021 interview, Massachusetts Senator Elizabeth Warren likened crypto regulation to the drug regulation initiatives of a century ago, which she claimed put an end to the sale of “snake oil” and laid the basis for the creation of the modern drug industry. This reflected her earlier statements about the digital currency market resembling the “Wild West,” which makes it a poor investment as well as an “environmental disaster.” With her latest bill in the Senate pipeline targeting Russian actors’ potential use of crypto to circumvent United States sanctions, it is fair to ask: Is the military conflict in Ukraine merely an excuse for Warren to act on her long-standing distaste for digital assets?

Cyberattack ransoms and cryptocurrency mining are unlikely to generate enough revenue to replace regular business activity in sanctioned nations, digital money experts and former law-enforcement officials told a US Senate hearing Thursday.

Cyberattack ransoms and cryptocurrency mining are unlikely to generate enough revenue to replace regular business activity in sanctioned nations, digital money experts and former law-enforcement officials told a US Senate hearing Thursday.

They say opposites attract, and this is certainly the case when it comes to stablecoins and regulatory scrutiny. Now, Tether [USDT] and Circle [USDC] are in the spotlight yet again alongside other stablecoin issuers.

Sherrod Brown, the chair of the Senate Committee on Banking, Housing and Urban Affairs, has called on several crypto firms to release information related to consumer and investor protection on stablecoins.

Stablecoins are in for another battering at the hands of the United States policymakers – with the Senate now getting in on the act: a committee chief has expressed “significant concerns” about the “consistency” of the terminology used to audit them.