Current Affairs - Business

Paysharp, a rising fintech startup from Tamil Nadu, achieved a significant milestone by securing final authorization from the Reserve Bank of India (RBI) on August 30, 2024. This authorization strengthens its position in India's payment system ecosystem, marking the company's journey from preliminary authorization in December 2022 to becoming one of the 36 authorized payment aggregators in the country. This achievement highlights Tamil Nadu’s growing presence in India's fintech sector.

FlixBus, a Germany-based travel-tech company, is expanding its operations into South India, connecting major cities like Bengaluru, Hyderabad, and Chennai. With a focus on affordable, safe, and eco-friendly intercity travel solutions, FlixBus aims to connect 33 cities and 215 stops across India. This expansion marks a significant milestone for the company, which has partnered with local bus operators to offer services in Tamil Nadu, Karnataka, and Andhra Pradesh. Germany's FlixBus is poised to transform India's intercity travel landscape with its innovative approach.

ADNOC and ExxonMobil are collaborating to build a low-carbon hydrogen facility, which will be the largest in the world. The facility will utilize natural gas to produce low-carbon hydrogen, significantly reducing CO2 emissions. ADNOC holds a 35% equity stake in the project, with operations expected to commence in 2029. This partnership demonstrates a commitment to developing sustainable energy solutions and reducing carbon footprint.

Bisleri International Pvt. Ltd. has partnered with the Goa government to enhance plastic waste management in Mormugao, under its CSR initiative 'Bottles for Change'. This collaboration was formalized at the Green Goa Summit 2024, with the aim of improving waste collection, segregation, and recycling processes. The initiative involves key stakeholders like the Goa State Pollution Control Board and Mormugao Municipal Council and focuses on educating the public, training staff, and establishing efficient recovery facilities to promote sustainable waste management.

Kaynes Semicon Pvt Ltd has received approval from the Union Cabinet to set up a semiconductor manufacturing unit in Sanand, Gujarat, marking a significant milestone in India's Semiconductor Mission. With an investment of approximately ₹3,300 crore, the plant will have a production capacity of 60 lakh chips per day, catering to various industries such as industrial, automotive, electric vehicles, consumer electronics, telecom, and mobile phones. This development underscores India's commitment to becoming a global hub for semiconductor manufacturing.