Current Affairs - Business

Tata Consultancy Services (TCS), a leading Indian IT firm, has partnered with the Council of Europe Development Bank (CEB) to enhance the bank’s financial operations through automation and artificial intelligence. The partnership aims to modernise the reconciliation process using TCS BaNCSTM for Reconciliations, an advanced solution that automates transaction matching, exception handling, and reporting. This collaboration not only boosts efficiency and transparency in banking operations but also reflects the growing role of Indian technology in driving digital transformation in global financial institutions. The system will help reduce manual effort, improve decision-making, and align with CEB’s development-focused mission across Europe.

Shell India has collaborated with the Ministry of Skill Development and Entrepreneurship (MSDE) to roll out a comprehensive training programme aimed at equipping Indian youth with skills in electric vehicle (EV) technologies and green energy. Implemented through the Directorate General of Training (DGT), this initiative covers areas such as EV systems, battery diagnostics, and safety protocols. It targets key industrial states including Delhi-NCR, Gujarat, Maharashtra, Tamil Nadu, and Karnataka. The programme supports India's clean energy goals by fostering a job-ready, climate-conscious workforce, aligning with the country’s net-zero emissions vision and addressing the growing demand for skilled professionals in the green mobility sector.

Singareni Collieries Company Limited (SCCL) has taken a significant step by signing a memorandum of understanding with the Institute of Minerals and Materials Technology (IMMT), based in Bhubaneswar. This agreement allows SCCL to enter the critical minerals sector, focusing on the exploration and production of valuable resources using advanced technologies. These critical minerals are vital for various high-tech and clean energy applications. Through this MoU, SCCL aims to enhance its resource base and contribute to the strategic mineral supply chain, underlining the growing importance of indigenous capabilities in securing future mineral needs.

Amazon has entered into a long-term nuclear energy agreement with Talen Energy to power its AWS data centres with electricity from the Susquehanna nuclear plant in Pennsylvania. The deal, which will last until 2042, aims to supply up to 1,920 megawatts of power. Additionally, Amazon and Talen plan to collaborate on future energy initiatives, including exploring the development of new Small Modular Reactors. This strategic move underscores Amazon's commitment to cleaner energy sources and highlights the growing role of nuclear power in supporting the infrastructure needs of major tech companies.

Thomas Cook (India) Limited has formed a strategic partnership with Muthoot Forex, a part of the Muthoot Group, to enhance the accessibility of its Borderless Travel Card and Study Buddy Card across India. Leveraging Muthoot’s vast network of over 7,000 branches, including 43 dedicated forex outlets, the collaboration ensures these products reach customers not only in major cities but also in Tier 2 to Tier 4 towns. This move strengthens Thomas Cook’s distribution network and simplifies the availability of pre-paid forex solutions for international travellers and students, making overseas travel and education more secure and convenient for Indian citizens.