Reliance via blockchain receives India’s first LC payment

Mumbai: In a first for India, HSBC Holdings Plc has executed a trade finance transaction using blockchain for an export by Reliance Industries Ltd (RIL) to US-based Tricon Energy. The blockchain-enabled letter of credit (LC) transaction substantially reduced the time taken for such deals, RIL said in a press release. “The use of blockchain offers significant […]

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Railways to pitch for building bullet train coaches locally

Indian Railways is planning a ‘Make in India’ touch to the super-fast bullet train project connecting Mumbai with Ahmedabad, two officials familiar with the matter said. The high-speed trains, known as Shinkansen in Japan, or new trunk line, will initially be imported, but at a later stage the state-owned transporter wants to offer one of […]

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Bullet Train Project: 40 new petitions in HC against land acquisition

GUJARAT: Division Bench of Chief Justice R Subhash Reddy and Justice V M Pancholi is likely to hear the petitions on Thursday along with similar pleas submitted in June this year only. This comes a day after four main petitioners “conveyed” to their lawyers about withdrawing the petitions, challenging the acquisition process. Fresh 40 petitions have been […]

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Hyderabad metro from LB Nagar to Miyapur flagged off

The Hyderabad Metro Rail on Monday commenced operations on the 16-km Ameerpet-LB Nagar line along one of the busiest corridors in the city. Telangana and Andhra Pradesh Governor E S L Narasimhan flagged off the train at the Ameerpet station in the presence of Telangana Municipal Administration Minister K T Rama Rao, other ministers and […]

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Poverty Rate In India Reduced To Half between 2005-16: UN Report

NEW DELHI: India is the first country for which progress over time has been estimated. Over 270 million people in India moved out of poverty in the decade since 2005-06  and 2015-16, climbing down to 27.5 per cent from 54.7 per cent, according to estimates from the 2018 global Multidimensional Poverty Index (MPI).. The 2018 global Multidimensional Poverty […]

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Ensure Pothole-Free Bengaluru by Thursday, Karnataka HC to Government

Bengaluru: The Karnataka High Court, in a strongly worded message to the Bruhat Bengaluru Mahanagara Palike (BBMP), taking cognisance of poor conditions of roadsin Bangalore. In its order the court said, “Bengaluru has to be restored to its glory as a garden city.” The BBMP officials then swung into action. A Division Bench comprising Chief Justice Dinesh Maheshwari and Justice […]

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Mumbai-Ahmedabad bullet train: 1,000 affected farmers oppose land acquisition, approach HC

AHMEDABAD: As many as 1,000 farmers of Gujarat affected by the proposed Ahmedabad-Mumbai Bullet Train project will approach the Supreme Court with a plea to stay the project, their lawyer said on Tuesday. They have also field an affidavits to the High Court opposing the bullet train project. A division bench of Chief Justice R Subhash […]

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Another bridge collapses in West Bengal days after Kolkata Majherhat flyover horror

Days after the Majerhat bridge collapse in Kolkata sent shock-waves across the state, a bridge over a canal collapsed in Siliguri’s Phansidewa on Friday. The incident happened early this morning. Like the Majerhat bridge, the middle portion of the bridge collapsed. A lorry was plying on it when it collapsed. The vehicle got stuck. The […]

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