In a Diwali bonanza for families of more than 6.5 percent lakh employees and pensioners of the state government, Punjab Chief Minister Bhagwant Singh Mann announced a hike of 4% in the Dearness Allowance (DA) for families of more than 6.5 lakh employees and pensioners of the state government.

On Wednesday, a spokesperson from the Chief Minister’s Office stated, “The Chief Minister approved a 4% DA increase for employees and pensioners, effective from November 1, 2024, raising it from 38% to 42%.” 

Mann emphasized, “This decision will benefit more than 6.5 lakh employees, pensioners, and their families. Employees are a critical segment of the state administration, and safeguarding their interests is the government’s top priority. No stone is being left unturned for this noble cause, and every effort is being made to ensure the welfare of employees.”

THDC India Limited announced on Monday that Unit#1 of the 1320 MW Khurja Super Thermal Power Project (KSTPP) has been successfully synchronized with the national grid. Additionally, coal firing has also been achieved within a few hours of oil synchronization.

THDC CMD RK Vishnoi praised the dedicated efforts of the KSTPP team, emphasizing that this achievement is a crucial step in expanding THDC's footprint in the thermal power domain, thereby contributing to India’s energy self-reliance.

“Synchronizing Unit#1 is not just a technical accomplishment; it symbolizes our commitment to bolstering India's power generation capacity,” said Vishnoi.

THDC Director (Technical) Bhupender Gupta highlighted the project's importance and mentioned that with this achievement, the Khurja Super Thermal Power Project will start playing a vital role in providing base load power, ensuring a continuous and reliable electricity supply, especially during peak demand periods and when renewable energy resources are variable.

India and Qatar on Tuesday held discussions to strengthen cooperation in combating money laundering and terrorism financing, focusing on advanced IT systems, strategic partnerships, and the role of virtual digital assets, according to the ministry of finance.

A nine-member Qatari delegation, led by Sheikh Ahmed Al Thani, head of Financial Intelligence Unit (FIU) Qatar, met with Vivek Aggarwal, head of FIU-India, to review current practices and explore areas for collaboration.

The discussions included the use of advanced IT systems, such as India’s Financial Intelligence Network (FINNET) 2.0, and innovative initiatives like FIU-India's Public-Private Partnership (FPAC) and Private-Private Partnership (ARIFAC) for Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT), the ministry said.

IDFC FIRST Bank has become the first Indian bank to offer real-time tracking for money sent abroad. This service, developed in partnership with Swift, is accessible through the bank's mobile app and internet banking platforms.

Chinmay Dhoble, Head of Retail Liabilities & Branch Banking, said, "With real-time tracking, we empower customers to monitor their cross-border transactions, enhancing convenience and satisfaction."

Kiran Shetty, CEO and Regional Head at Swift, said, “IDFC FIRST Bank is the first Indian bank to go live on GPI over APIs in South Asia. This enables near real-time tracking of payments for customers. Since launching GPI in 2017, our goal has been to improve customer experience in cross-border payments by increasing speed and transparency.”

Under the Reserve Bank of India’s Liberalised Remittance Scheme (LRS), resident individuals can send money abroad for various purposes, including education, medical expenses, and investments. Non-Resident Indians can also transfer funds from their NRO/NRE accounts through IDFC FIRST Bank.

India’s IREL (India) Limited and Kazakhstan’s Ust-Kamenogorsk Titanium and Magnesium Plant JSC (UKTMP JSC) signed an agreement to form a joint venture company, IREUK Titanium Limited, to establish titanium slag production in India. The agreement, signed by Dr. Deependra Singh, CMD, IREL, and Assem Mamutova, President, UKTMP JSC, aims to boost the titanium value chain in India and generate employment in Odisha.

The Indo-Kazakh joint venture will utilize IREL’s surplus Ilmenite from its Odisha operations to produce high-grade titanium feedstock, with UKTMP JSC providing technology and offtake agreements. “This joint venture will pave the way for Atmanirbharata in the field of titanium slag production,” said Dr. A.K. Mohanty, Secretary of the Department of Atomic Energy (DAE) and Chairman of the Atomic Energy Commission, who attended the signing ceremony.

RITES Limited has signed a Memorandum of Understanding (MoU) with SAIL's Bokaro Steel Plant (SAIL BSP) to collaborate for project management consultancy for rail connectivity works involving both existing and new railway tracks across various sites within the Bokaro Steel Plant in Jharkhand.

Under the MoU, RITES will provide comprehensive services, including surveying, engineering, project monitoring, supervision and quality control.

Leading public sector undertakings (PSUs) NTPC Limited and Oil and Natural Gas Corporation (ONGC) on Monday announced the formation of a 50:50 joint venture company (JVC) to further promote their interests in the renewable and new energy arena.

The JVC between the country’s largest power generating company and largest oil and gas producer has been formed through their green energy subsidiaries – NTPC Green Energy Ltd (NGEL) and ONGC Green Energy Ltd.

The new company will venture into various renewable energy and new energy opportunities including solar and wind energy, both onshore and offshore, and green molecules such as green hydrogen, green ammonia, sustainable aviation fuel (SAF), and green methanol.

Tata Power Renewable Energy Ltd has partnered with IndusInd Bank to offer financing options to Micro and Small Enterprises (MSEs) for solar installations.

This alliance will provide MSEs with collateral-free solar financing, by offering loans ranging from Rs 10 lakh to Rs 2 crore, Tata Power Renewable Energy said in a statement on Tuesday.

These loans, contingent on the bank's credit approval, require a 20 per cent margin and come with competitive interest rates, offering terms of up to 7 years, the company said.

Deepesh Nanda, CEO & MD, Tata Power Renewable Energy said, "Through a partnership with IndusInd Bank, we are facilitating easy financing opportunities for MSEs (Micro and Small Enterprises) to adopt solar energy, which will not only help them reduce operational costs but also actively contribute to the green energy transition."

Various public and private sector lenders are tied up with solar players to provide finance options for commercial and residential solar projects.

BEML Limited has been awarded the prestigious “Self-Certification” status for its defence equipment by the Department of Defence Production (DDP), Government of India. This certification, presented by RA Govardhana, ADGQA (V&EE), HQ DQAV, to Shantanu Roy, Chairman & Managing Director of BEML Ltd., was celebrated at a dedicated event at the BEML’s headquarters.

Self-certification is a significant recognition granted by the DDP, delegating the responsibility to the manufacturer to certify the quality of products directly, reflecting a high standard of reliability and sustained quality production. The status underscores BEML’s consistent ability to manufacture defect-free defence products that meet rigorous quality standards.

Upon receiving the award, Roy commented, “We are honoured to receive this certification, which not only acknowledges BEML’s dedication to quality but also reinforces our commitment to the vision of Aatmanirbhar Bharat. We look forward to advancing our mission with increased resolve to serve our defence forces excellently.”

India and Algeria today signed the Memorandum of Understanding(MoU) on bilateral defence cooperation. The MoU will elevate the defence partnership between both nations, fostering mutual understanding and enhancing strategic interests. It was signed by Chief of Defence Staff General Anil Chauhan and Chief of Staff of the People’s National Army Saíd Chanegriha in the presence of military and officials. On the concluding day of his visit to Algeria, General Anil Chauhan interacted with General of Army Saíd Chanegriha. Deliberations were held on furthering bilateral military cooperation and capacity building. Make In India initiatives and technology exchange were also discussed between both military leaders.