Author: News Desk

Automobile companies to start making flex-fuel vehicles within 6 months https://youtu.be/1KA91hrwFeMAutomobile companies will start manufacturing flex-fuel vehicles within six monthsAt Global Business Summit, Union minister Nitin Gadkari said that most vehicles in India will soon run on 100 per cent ethanolFlex-fuel or flexible fuel is an alternative fuel with a combination of gasoline and methanol or ethanolThe government is enabling the use of various alternate fuels in an effort to shift from fossil fuelsAutomobile and auto components of flex-fuel engines have been included in the PLI schemeNITI Aayog has formulated the roadmap for ethanol blending to accelerate the introduction of…

https://youtu.be/Mp1ZKFM6xQY New Yono SBIState Bank of India (SBI) is planning a separate digital entity. It will revamp its current mobile application, rechristening it ‘Only Yono’. SBI is looking to implement the revamp within 12-18 months. It includes migrating existing Yono customers to Only Yono. The platform will implement its vision for next five years from the launch of Only Yono.This move comes in the wake of Niti Aayog recently publishing a draft discussion paper on licensing of Digital Bank. This may result in a formal guideline by the RBI to establish various types of digital banks in the country.

https://youtu.be/qAYqx6rm1NM UAE and Cryptocurrency Dubai has introduced crypto asset regulation and joined the likes of Singapore, the US, UK, El Salvador which have made laws on cryptocurrency. Dubai’s ruler, Sheikh Mohammed Bin Rashid announced that the emirate has enacted its first law governing virtual assets. It has also formed an independent regulator to regulate the cryptocurrency sector. Attract new industry UAE is a federation of seven emirates and the financial powerhouse of the region. Dubai, has been pushing for the development of virtual asset regulation to attract new types of industry. The Dubai Virtual Asset Regulation Law aims to establish…

https://youtu.be/Hm4eojrxm04 Electric is future Zero 21 Renewable Energy Solutions, a Hyderabad-based startup has developed the ReNEW Conversion Kit. This e-kit will help both diesel and CNG-powered three-wheelers or auto rickshaws convert to electric. Zero 21 started developing this conversion kit in 2018. It took the firm  a couple of years to develop the kit. As a small venture they couldn’t afford to make any mistakes with their product. Initially, they sourced most major components from China. Zero 21 is one of the six manufactures enlisted by the Delhi government to convert old petrol and diesel vehicles that cannot ply on the roads into…

Sales low in February India’s top passenger vehicle makers Maruti Suzuki India and Hyundai Motor India, have posted a decline in domestic sales in the month of February, according to a report. At the same time, Mahindra and Mahindra witnessed growth. The report says that domestic sales of Maruti Suzuki India fell by 7 percent year-on-year from 1,44,761 units in February 2021 to 1,33,948 units last month. Shortage of electronic components slightly impacted the production of vehicles primarily sold in the domestic market, Maruti said. “The company took all possible measures to minimise the impact,” the Business Line reported. The…

https://youtu.be/pRoODzNc43c Paytm payments banks faces troubleRBI has barred Paytm Payments Bank from onboarding new customers with immediate effect. RBI cited supervisory concerns as the reason. The bank has been directed to appoint an IT audit firm to conduct a comprehensive system audit of its IT system.Under pressureIn December last year, Paytm Payments Bank received RBI’s approval to operate as a scheduled payments bank. The bank has been included in the second schedule to the Reserve Bank of India (RBI) Act, 1934.Since listing, Paytm’s share price has been under immense pressure. Paytm Payments Bank had 64 million savings accounts as of March…

https://youtu.be/irntBk9_Tps Asia’s largest facilitySaint-Gobain has completed Rs 500 crore plus expansion at the company’s World Glass Complex at Sriperumbudur near Chennai. Globally, this is the group’s single largest investment destination.The expansion included a new float glass unit, an integrated windows line facility and an urban forest. The company describes it as the world’s first and Asia’s largest fully integrated facility.The new facilities will provide employment to over 200 people . It will take the cumulative investment in the World Glass Complex to over ₹3,750 crore.“Our experience in India has been extremely good; we have sustained high growth rates for a long…

https://youtu.be/MJrRK_4jYN8 Oil export to EuropeThe global energy crunch spurred by Russia’s invasion of Ukraine is giving the world’s biggest refining complex a much-needed boost. Reliance Industry’s Jamnagar facility is lifting crude processing to take advantage of surging demand for diesel. It’s already sending shipments of the fuel to Europe; this will increase in the coming months, a media report said.Taking advantage of situationThe complex in Gujarat can process 1.36 million barrels of crude a day from two refineries. It is able to export most of the fuel. The plant with a focus of exporting 704,000 barrels a day has been languishing…

 Not a bitcoin fan There are many celebrities and tech icons who are keen to invest in Bitcoins. But Bill Gates is an exception.In an old interview of February 2021, the billionaire Microsoft co-founder told Bloomberg Technology that he was wary of the frenzy over Bitcoin, particularly because the value of the cryptocurrency could be swayed by something as simple as a tweet from Tesla CEO Elon Musk. “Elon has tons of money, and he’s very sophisticated, so I don’t worry that his Bitcoin will randomly go up or down,” Gates said. “I do think people get brought into these manias who may not…

https://youtu.be/LTA3c9edI2E Out of the 44 Indian startups that turned unicorns last year, four were led by womenHere is the list of women-led startups valued at over a billion dollarsByju’s, founded by couple Byju Raveendran and Divya Gokulnath in 2011, is the highest-valued Indian startupStanford graduate Upasana Taku is the co-founder and COO of MobikwikGhazal Alagh along with her husband Varun Alagh founded D2C Mamaearth back in 2016Ruchi Deepak founded ACKO Insurance along with Varun Dua in 2017Serial entrepreneur Ruchi Kalra founded business-to-business commerce and fintech company Ofbusiness in 2016Priyanka Gill, the founder of popular content platform PopXo, became a part of the MyGlamm Group in 2020Stanford…