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RBI releases discussion paper on forex trading platform for retail participants
Posted on 13th October 2017
The Reserve Bank of India on Thursday released a discussion paper on foreign exchange trading platform for retail participation seeking comments from stakeholders. The central bank proposes that Clearing Corporation of India (CCIL), which operates an interbank USD/INR spot trading platform named FX-CLEAR, would develop an electronic spot trading platform for retail customers modelled on their existing platform. The paper proposes to extend the existing FX-CLEAR platform to retail customers of the FX-CLEAR member banks through an internet based application. The retail market will be separate from the interbank market but will have the same market hours.

Customers can directly execute the trade up to the limit by placing bid/offer quotes and trades will be executed by anonymous order matching on price-time priority. The minimum order size is proposed at $1,000 and in multiples of $500 while the maximum order size is intended to be $500,000. The central bank indicated that direct execution by the customer is likely to bring down the cost of transactions as there is no market risk to the customer’s bank apart from settling the inter-bank trade through the CCIL settlement system.


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L&T Technology Services strikes $40 million deal in Europe
Posted on 24th September 2018
Global engineering services company L&T Technology Services Limited (LTTS) on Monday said it had won a multi-year deal to provide digital content management services to a leading European technology companys industrial products segment. The deal is expected to run for a period of five years with an aggregate revenue potential of $40 million

NTPC gets green clearance for Rs 77.32 bn expansion project in Odisha
Posted on 24th September 2018
State-run power producer NTPC has been given the green clearance for the Rs 77.32 billion expansion project of the Talcher Thermal Power Station in Odisha, a senior government official said Monday.

The company's proposal is to add two additional units of 660 MW each in the existing premise of the Talcher Tehermal Power Project (TTPP) located in Angul district, Odisha.


Google, Amazon, Microsoft plan to fight famine in developing nations via AI
Posted on 24th September 2018
Tech giants Microsoft, Amazon and Google are joining forces with international organisations to help identify and head off famines in developing nations using data analysis and artificial intelligence, a new initiative unveiled Sunday.

CIL aims to supply 17.5 mt coal a year to captive power producers
Posted on 24th September 2018
KOLKATA- State-run monopoly miner Coal India (CIL) plans to supply 17.5 million tonnes of coal annually to captive power producers for five years through an auction that started last week and is slated to conclude on October 10.

The average base price for the fuel on offer is around ₹1,343 per tonne while premiums offered by consumers for a variety of coal from South Eastern Coalfields have touched a high of ₹650 per tonne.


Paytm is testing face recognition tool for payments
Posted on 24th September 2018
BENGALURU: If Apple taught Indian consumers to unlock its new phones with a twitch of their eyes, Paytm is working on introducing facial recognition to enable digital payments.

Noida-based Paytm has begun testing a facial recognition tool that can unlock its payments application on a customer’s smartphone, company executives said. It also plans to extend this feature to allow customers to pay at merchant outlets with the blink of an eye.


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