NFS
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QatarEnergy, TotalEnergies sign 27-year LNG supply agreement
Qatar has secured its largest and longest European gas supply deal, providing France with up to 3.5 million metric tons of LNG per year for 27 years. The supply agreements were signed between affiliates of QatarEnergy and TotalEnergies, and deliveries are expected to start in 2026. Asia has been ahead of Europe in securing supply agreements from Qatar's expansion plan, but the French agreements demonstrate Qatar's commitment to the European market.
Better save than worry: Why RBI must ensure more timely and updated data on HHNFS
HHNFS are essential because they are the principal instruments for financing the fiscal deficit. In the post-Covid period, the corporate sector met its investment demand from its savings. If so, the only way to finance the country's fiscal deficit is through HHNFS and CAD. Although the government is consolidating its fiscal deficit, the fall in household HHNFS has been faster than the reduction in fiscal deficit in FY23. This has resulted in the widening of CAD.
Sky-high prices burn Indians’ pockets, drag savings to 30-year low amid K-shaped recovery
This broad-based moderation in consumption in recent quarters, coupled with lower household savings, is evidence of a K-shaped economic recovery in India, as inflation continues its uptick despite the Reserve Bank of India’s policy rate cuts. India’s inflation has averaged 7.2 per cent YoY in HF1Y23, following 5.8 per cent in the preceding two years.
Reserve Bank of India puts on hold NUE licensing
The regulator will not grant permission to any of the six consortiums to commence business as all of them have fallen short of the RBI's expectations, said people familiar with the matter.
Airtel Payments Bank launches face authentication for savings bank accounts
The authentication is processed using a new app from the Unique Identification Authority of India (UIDAI). As a result, the business correspondents at the banking points will only need a smartphone to open a bank account for customers.
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Calcutta HC terms West Bengal's doorstep ration scheme legally void
The division bench of Justices Chitta Ranjan Dash and Aniruddha Roy, in a order passed today, said that the 'Duare Ration Scheme' is "ultra vires of the National Food Security Act., 2013" and is "therefore a nullity in the eye of the law".
Airtel Payments Bank to install 1.5 lakh micro ATMs this fiscal
"Micro ATMs will be rolled out in a phased manner. Initially, the bank will place 1,50,000 units in Tier II cities and semi-urban regions. These regions typically have a high demand for cash withdrawal services but limited access to ATMs," the company said in a statement.
Duare Ration Scheme of West Bengal govt ultra vires to NFSA, legally void : Calcutta HC
"The State Government has transgressed the limit of delegation by obliging the Fair Price Shop dealers to distribute the rations to the beneficiaries at their doorstep in absence of any authority to that effect in the enabling act, i.e, the National Food Security Act." the division bench observed.
Heardle #195, September 7: Let the music play! Here are hints, answer for today's music puzzle
Today’s Heardle has a fairly recent song, definitely newer than the 80s and 70s tracks we’ve had earlier. We have hints and clues to guess the artist correctly in our Heardle feed for September 7
Navi Finserv Rs 300-crore debt bond lists with 1.65 times subscription
The fintech firm's secured, rated, listed and redeemable Non-Convertible Debentures (NCDs) had a total value of Rs 600 crore, including the greenshoe option of Rs 300 crore.
RBI apprises on card-less cash withdrawal at ATMs: Here's all you need to know
While UPI will be utilised for customer authorization in such transactions, the National Financial Switch (NFS)/ATM networks would be used for settlement, according to the RBI. Furthermore, as per the RBI mandate, card-less cash transactions would be processed free of charge.
Non-financial debt jumps 11.9% to Rs 371 lakh crore in Sept quarter: Report
However, this is lower than the previous fiscal, when it had touched 180.2 per cent of GDP after a three per cent contraction in the nominal GDP during FY21, according to the report by Motilal Oswal Financial Services.
NPCI takes note of forced multiple withdrawals at white-labels, AePS
The National Payments Corp of India (NPCI) has ordered operators of white-label ATMs and bank agents facilitating Aadhaar-based payments to stop forcing customers to withdraw cash in multiple tranches in a bid to inflate fee incomes, people familiar with the relevant NPCI directives
Optical fibre cable network for Defence may face delays, says Ravi Shankar Prasad
Govt said the optical fibre cable network for Defence Services is likely to face time overruns due to litigation in procurement and difficulties over optical cable contracts.
National Food Security Act not implemented as it should be: Supreme Court
SC observed that almost four years have gone by since the Act was enacted, but the authorities mandated to be set up under it have not been made functional yet in some states.
Government allocates Rs 13,000 crore to DoT for BharatNet, NFS
The government has allocated Rs 10,000 crore for rolling out optical fibre-based broadband network across "One lakh fifty thousand cumulative GPs" in 2017-18.
Bharti Airtel Q1 net profit jumps 10.8% sequentially; mobile data revenue up 34.1%
Consolidated mobile data revenues at Rs 4,640 crore grew by 34.1% YoY. Mobile data traffic at 194.8 billion megabytes in the quarter; growth of 62.5% over the same quarter last year.
Network for Spectrum project to be ready in three states by next March
The nation-wide implementation agency for the project, called Network for Spectrum (NFS), is Bharat Sanchar Nigam Ltd.
Aksh Optifibre bags Rs 100-crore defence NFS project
The defence NFS project comprises of a total of 57,015 kilometres of optic fibre network and is expected to be completed in 18 months.
Department of Telecom to seek Defence Ministry nod to sync NFS tender with PMA norms
DoT & MoD signed an agreement under which defence agreed to release 5 megahertz of 3G spectrum after alternate communication network is in place.
ITI wins two BSNL advance purchase orders for Rs 2,984 crore
ITI Limited has bagged two advance purchase orders from BSNL amounting to Rs 2,984 Crore, the company said.
NPCI to launch RuPay global cards by July
NPCI said its RuPay debit card will go international by July and announced a tie-up with an American card issuer.
Any bank can now join national financial switch: NPCI
NPCI has said any bank with round-the-clock core banking solution capabilities, with/out ATMs, can now join the NFS through a sponsor bank.
StanChart becomes first int'l bank to join NFS ATM network
Standard Chartered Bank on Tuesday said it has joined the National Financial Switch (NFS)-shared ATM network, becoming the first international bank to do so.
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