8SEPTEMBER, 2024NLC'S LATEST VENTURE TO AID THEM IN OFFSETTING 90L TONS OF CARBON EMISSIONSRBI TO UNIFY ONLINE & OFFLINE LICENSING FOR PAYMENT AGGREGATORSNLC India a Navratna Government of India Enterprise under Ministry of Coal and the first CPSE to reach 1 GW Solar Power generation in the country has signed Power Usage Agreement at Hyderabad, with Telangana State DISCOMs for 200 MW Solar Power at a competitive and affordable price under CPSU scheme for 25 years.NLCIL's Solar Project is set to generate around 1,300 Crore units of green power and offset 90 Lakh Tons of Carbon emission in its lifetime. The project will be developed with the State-of-the-art equipment including single axis trackers, Domestic make high efficiency modules aimed for achieving higher generation under AtmaNirbhar Bharat (Make in India). The project is set to be commissioned by June 2025.This association comes with twin advantage of cheap green power and meeting the Renewable purchase obligation of Telangana State. NLCIL has already been supplying more than 234 MW of affordable thermal power to the State of Telangana for more than three decades and this association in Renewables is the mark of the start of a long journey, for both the State of Telangana and NLCIL towards a Sustainable future. The Reserve Bank of India (RBI) is set to streamline the licensing process for payment aggregators by consolidating the requirements for both online and offline entities. K. Vijayakumar, General Manager of DPSS RBI, announced this shift during the Global Fintech Fest, emphasizing the regulator's aim to issue a unified license for payment aggregators that would cover both online and offline operations.Vijayakumar explained that as the distinction between physical and online spaces diminishes, a single license will allow payment aggregators to operate seamlessly across both domains. The regulator is also prioritizing the security of payment transactions, stressing that innovations by merchants and payment service providers must adhere to customer assurance and transaction authentication standards from the outset.Additionally, Vijayakumar highlighted the RBI's efforts to integrate Aadhaar-enabled Payment Systems (AePS) with existing Point of Sale (POS) machines to boost financial inclusion in rural areas. This move aims to lower costs and increase transaction volume among merchants, particularly in areas with limited connectivity. He also mentioned plans to enable transactions without internet access, providing a solution for areas with poor network coverage or during outages.The RBI, which stands for the Reserve Bank of India, is India's main regulatory body in charge of overseeing the country's banking system. It is under the ownership of the Ministry of Finance, Government of India, and is tasked with overseeing the control, issuance, and maintenance of the Indian rupee. TOP STORIES8SEPTEMBER, 2024
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