Good morning, Chennai!
🌦️ Today’s weather: High: 36 ℃ | Low: 27 ℃ | Partly cloudy with the possibility of some rain.
🧐 Did you know? The first joint stock company was formed by ‘dubashes’ or interpreters who worked with the Dutch and the Portuguese, for cloth trade, as early as the 1670s in Chennai.
✍🏼 Bringing together young creative minds
Chennai-based online magazine Equinox aims to create an online community of young writers.
What’s it about? The magazine was launched in February and was created and launched by a group of high school girls who shared a passion for publishing works and bringing together young writers. They now have a community of over 500 people and partnerships with other magazines.
- The inaugural issue, The Coastal Edit, was launched on April 1. The team has now grown to 16 members. The magazine has tackled issues ranging from NASA’s Artemis mission to the upcoming 2024 Paris Olympics.
- Since it’s an online magazine, the community isn’t restricted to Chennai. Members are from other countries like England and the USA. The team is organised with the processes of pitching ideas, crafting articles, and working with editors.
What’s next? For the second issue, they’re honouring iconic places in Chennai to encourage people to visit.
🏦 Attracting fintech companies
Chennai looks to bolster its fintech credentials as it lags behind other metros.
What’s it about? Chennai has a history of banking, non-banking, and insurance companies. It has also become a hub for several big technology and IT companies in the Banking Financial Services and Insurance (BFSI) sector. However, it doesn’t have a big fintech presence like Mumbai or Gujarat.
- Chennai has all the necessary ingredients to make it a fintech hub – pioneering banks, non-banking financial institutions, and a talent pool in the BFSI sector.
- The state government launched the FinTech City spread over 56 acres. It’ll also have a FinTech tower with 5.6 lakh square feet of developed space for fintech and BFSI companies.
Government policy: The Tamil Nadu government unveiled its FinTech Policy in 2021 to develop infrastructure to attract the next generation of fintech companies. It covers all categories of financial services that have technology as their underlying platform.
🚲 No takers for Smart Bikes
The Corporation’s Smart Bike initiative has dwindled, with many in poor condition and left to rot.
What’s the story so far? The Chennai Corporation launched the Smart Bike initiative in 2019 to help reduce pollution and traffic congestion. Initially, people were excited and adopted it with great fanfare. However, it hasn’t been the same since.
- Many cycling stations have only a few cycles, and the stands are rusted. Some cycles remain damaged with little maintenance since they aren’t sheltered from heat and rain.
- Many of the stations also saw incidents of vandalism, which made them difficult to maintain. Since these bikes were imported, it was difficult to get spare parts.
Uncertain future: There are over 1,000 bikes across 135 locations in the city. The Corporation did have plans to expand the availability of these bikes but paused.
🚇 Metro tunnelling at Royapettah
Metro tunnelling at Royapettah is expected to begin in September.
What’s it about? The tunnel boring machine (TBM) currently operating near the Adyar River will be used in Royapettah. This locality will be part of the 45.8 km corridor 3 from Madhavaram Milk Colony to Siruseri SIPCOT.
- The two TBMs at work on Greenways Road to the Adyar junction will finish tunnelling by June. One of those will be used at Royapettah.
- Engineers at the Royapettah site construction was difficult due to heavy traffic. The station has been planned below the junction with the YMCA grounds and the Government Hospital on either side.
Traffic congestion: To facilitate construction, traffic on one side has been diverted. That has caused congestion on Peter’s Road during peak hours. It leads to a slowdown in traffic to reach Anna Salai from West Cott Road. Whites Road is also mostly closed to traffic.
📊 Today’s Poll
(Only subscribers can participate in the polls)
Are you part of your school or college alumni network?
- I’m a part of my school or college’s alumni network.
- I’m not a part of my school or college’s alumni network.
❓ Today’s Question
(Only subscribers can submit their answers)
What was your favourite movie-going experience?
Reply to this email with your answers.
🗞️ In other news…
- SPIC MACAY at IIT Madras will see over 1,500 students and volunteers and renowned musicians and artists.
- Tondiarpet and Vyasarpadi flyovers are expected to be completed by this year-end.
- The Chennai Corporation has refused to transfer the Pallikaranai marshland and wants the site to manage waste.
- Bike taxi operators in the city resort to multiple jobs in the summer to earn a decent income.
- Medai – The Stage will organise a series on Women’s Monologues.
🛋️ Local Lounge
Yesterday’s Poll:
- My locality faces frequent power cuts: 33.3%
- My locality doesn’t face frequent power cuts: 66.7% 🏆
Answers to Yesterday’s Question:
What’s the earliest movie you remember watching?
Suchi: “The Good The Bad and The Ugly”
Shiva: “The earliest movie in a theatre is Roja (1992)”
That’s it for today. Have a great day!