REC Limited, the Maharatna Central Public Sector Enterprise under the Ministry of Power, has signed a Foreign Currency Term Loan Agreement for USD 100 Million, with Export Import Bank of India (EXIM Bank). The proceeds of the loan will be used towards refinance for on-lending to REC’s borrowers in power, infrastructure and logistics sectors for importing capital equipment. The funds will be raised as part of REC's Market Borrowing Programme of Rs. 1.20 lakh crore for the year 2023-24.

This is the first term loan being extended by EXIM Bank to REC. The loan has been tied up for a 5-year tenor and is benchmarked to SOFR (Secured Overnight Financing Rate), which is the benchmark rate for the loans denominated in USD.

Commenting on the occasion, Chairman and Managing Director, REC Limited, Shri Vivek Kumar Dewangan said, “We are delighted to partner with EXIM Bank of India to bridge the financing needs of power, infrastructure and logistics sectors and sign the loan agreement for USD 100 Million.”

India will participate in the 48th Toronto International Film Festival (TIFF) commencing today. It will continue till the 17th of this month. This year, the focus will be to showcase India as a hub of talent, content, and entertainment. The official Indian delegation to TIFF will be led by Joint Secretary (Films), Ministry of Information and Broadcasting, Prithul Kumar. Under its extensive participation plan, India will host several sessions to showcase the country's creative as well as technological strengths and invite international stakeholders to co-produce films with India and film in Indian locations.

This year, six Indian films have been shortlisted in the official selection at TIFF. The films include Dear Jassi directed by Tarsem Singh Dhandwar, Kill, directed by Nikhil Nagesh Bhatt, and Thank You For Coming, directed by Karan Boolani. 

Prime Minister Narendra Modi arrived in Indonesia on Thursday morning to attend the ASEAN-India and the East Asia summits during which he will discuss the future contours of India's partnership with the countries in the strategically important region.

"PM @narendramodi lands in Jakarta," External Affairs Ministry Spokesperson Arindam Bagchi posted on social media platform X.

The Union Cabinet approved a ₹3,760 crore viability gap fund (VGF)—grants aimed at enhancing the viability of infrastructure projects—for battery energy storage systems (BESS), in a boost for the renewable energy sector that banks on storage when green power generation is low or down.

Under the scheme, the government will provide financial support of up to 40% of the capital cost of BESS projects totalling 4,000 megawatt-hours (MWh) till FY31. An official statement on Wednesday said the scheme aims to reduce the levelized cost of storage (LCoS) to ₹5.50-6.60 per kilowatt-hour (kWh), making storage a viable option to manage peak power demand. According to industry estimates, the LCoS currently stands at around ₹10-11 per kWh.

Department of Posts, as part of its ongoing initiatives to create an export ecosystem for e-commerce in the country, entered into an agreement with Bigfoot Retail Solution Pvt Ltd (Shiprocket), one of the leading e-commerce enablement platforms. The collaboration aims to enhance e-commerce exports by leveraging India Post’s extensive presence and reliable shipping solutions.

The agreement was signed today in New Delhi in the presence of Shri Alok Sharma, Director General Postal Services, Chief Postmaster General Delhi Ms Manju Kumar and Shri Saahil Goel, CEO, Shiprocket, marking a significant milestone in India’s cross border e-commerce landscape.

Union Minister for Education and Skill Development & Entrepreneurship Shri Dharmendra Pradhan launched the Malaviya Mission - Teachers Training Programme by the University Grants Commission at Kaushal Bhawan, New Delhi. He also inaugurated the Portal of the Programme and released its information brochure. Organised by the University Grants Commission, in association with the Ministry of Education, the Malaviya Mission - Teacher Training Programme aims to provide tailored training programmes for teachers. This programme will work for the capacity building of faculty members in higher educational institutions.

A 'G20 Tourism and SDG Dashboard' developed under India's presidency of the grouping with expert knowledge partnership of the United Nations World Tourism Organization (UNWTO), was unveiled on September 5. It showcases best practices, case studies, and insights from G20 countries, all modelled for achieving the Sustainable Development Goals (SDGs).

"The dashboard is a lasting legacy of India's G20 Presidency, reflecting its dedication to global collaboration and sustainable growth in the global tourism industry," the ministry said in a statement. Union Tourism Minister G Kishan Reddy launched the dashboard in a virtual ceremony, officials said.

Mahindra announced the expansion of its cricketing association as the associate sponsor with Star Sports for the ICC Men’s Cricket World Cup 2023 and ‘co-powered by’ sponsor on the digital platform, Disney+ Hotstar. In addition to the ICC Men’s Cricket World Cup 2023, the collaboration ensures visibility for Mahindra’s automotive and tractor brands during the upcoming Asia Cup 2023.

With its presence during the ICC Men’s Cricket World Cup 2023, Mahindra aims to foster a deeper connection with customers, fortifying the trust and bond they share with the brand. Additionally, Mahindra dealerships will host a series of engagement activities during the cricket season for customers.

Fire on the Ganges is the first attempt to chronicle the everyday realities of the Doms in Banaras. Through their tales of struggle and survival, betrayal and love, it tells the at-times-heartbreaking, at-times-exhilarating story of a community struggling to find a place beyond that accorded to it by ancient tradition.

Cashfree Payments, a leading payments and API banking solutions company, has partnered with Jamboree, a leading educational consultancy, to simplify fee payments for Indian students studying overseas. The partnership leverages Cashfree Payments' cross-border payment solution, which streamlines and digitises the entire payment process from KYC verification, payment collection, to outward remittance. It eliminates the need for physical bank visits, offline KYC submission and verification, providing students with a convenient, fast, cost-effective, and transparent payment experience.

With this partnership, students can initiate transactions 24/7, even on weekends and holidays, providing them with flexibility. It enables students to make remittances under the Liberalised Remittance Scheme (LRS) established by the Reserve Bank of India (RBI), catering to a wide range of payment needs permitted by regulations, including admission fees, education rental payments, student maintenance expenses, Guaranteed Investment Certificate (GIC) payments for students heading to Canada, as well as blocked account payments for students bound for Germany. Further, it also substantially reduces the forex mark-up, rendering the transactions cheaper for Indian students. Students can also track the status of the remittance, from KYC verification status, payment confirmation, remittance initiation to the stage of downloading SWIFT copy.