Sri Lanka Cabinet Approves US$400 Million Currency Swap with India
Sri Lanka’s central bank will borrow the money from the RBI to boost its gross reserves.
Economy
News on Indian Economy
Faradion to Set Up Sodium-ion Battery Manufacturing in India- Make in India
Unlike lithium-ion batteries, Faradion’s sodium-ion batteries have enhanced thermal stability and safety. Further, they can be safely transported and maintained at zero volts.
Under NSM, India to Get 14 New Supercomputers in 2020
Once deployed, the total number of supercomputers under Rs 4,500 crore-National Supercomputing Mission (NSM) would grow to 17.
How India’s 4 Million IT Workers Shifted to Working from Home Overnight
Transitioning such a large number of employees comes with its own share of practical challenges, from logistics to securing the required permissions from clients and managing employee morale. Industry body Nasscom swung into action as well, lobbying with the Department of Telecom to waive certain requirements to enable work from home for IT employees. To be sure, the government acted swiftly, with several ministries collaborating and allowing delivery of services remotely.
Team of Scientists Begin Work on Ways to Revive Indian economy After Covid
Indian experts are focusing on promoting indigenous technology and manufacturing for reviving the economy after the crisis engendered by the coronavirus pandemic blows over.
India Records 20% Hike In Electric Vehicle Sales
The Indian electric vehicles (EV) industry has registered a 20% surge with sales of 1.56 Lakh units in the financial year 2019-2020, compared to 1.3 Lakh in the previous year. The current hike does not include the sales of electric rickshaws.
Indian Enclave Along Pak Border Gets First Permanent Link to Country since 1947
An Indian territory in Punjab lying across river Ravi along the Pakistan border, which had only seasonal connectivity with the rest of the country since 1947, finally got a permanent link in the form of a bridge on Monday, when tractor trolleys of farmers carrying wheat harvest crossed it for the first time.
Modi Govt Transfers ₹ 36,000 Crore to 16 Crore People’s Bank Accounts – JAM
Amid the Coronavirus crisis in the country, the government has transferred Rs 36,659 crore directly into the bank accounts of around 16.01 crore beneficiaries
US Thanks Indian Automaker for Making ‘Life-Saving Equipment’ in America
US Secretaty of State Mike Pompeo has thanked Indian multinational conglomerate, Mahindra Group, for manufacturing “life-saving equipment” in Detroit, Michigan.
Union Bank of India merger What Happens to Account Numbers, IFSC Codes, Loans?
Andhra Bank and Corporation Bank were merged into Union Bank of India on April 1 as a part of consolidation exercise in the country’s banking space.