HSBC Holdings Plc has executed India’s first trade financial transaction using blockchain for a deal involving an export by Reliance Industries Ltd (RIL) to US-based Tricon Energy. The blockchain-enabled letter of credit (LC) reduces transaction timeline from 7-10 days to less than a day. The Letter of Credit (LC) was issued by ING Bank for ..
Reliance Industries Limited: GK, Current Affairs, Questions, Trivia and News
Mukesh Ambani has become the Asia’s second richest man according to the 2017 Bloomberg Billionaires Index (BBI). According to the 2017 index, Ambani’s net worth has risen to $35.8 billion (around Rs 2.2 lakh crore), making him the 19th richest person in the world, up from 29 at the end of 2016. The increase in ..
The Breakthrough Energy Coalition (BEC) with members like Reliance Industries Chairman Mukesh Ambani, Tata Sons Chairman Emeritus Ratan Tata, Alibaba’s Jack Ma and other billionaires will invest more than $1 billion in clean energy called the Breakthrough Energy Ventures (BEV). The fund has been created to fight climate change through innovation in clean energy over ..
The tussle b/w Reliance Industries and the petroleum ministry over the future of India’s significant gas acreage reached to a full blown confrontation. Reliance and its partner BP have indicated the shutdown of the country’s biggest gas discovery- KG-D6 in 2015 if the government did not approve its long-pending investment proposals and revised capital expenditure ..
· 8 Indian companies appear in the list of world’s 500 largest companies by Fortune magazine. · Among those 8 companies, 5 are state-run · Indian Oil Corp and Reliance Industries Limited stand among the top 100. · Indian Oil, with annual revenues of 86.01 billion dollars, stands at 83rd rank an increment from 98th ..
SBI temporarily exceeded RBI-set credit exposure limit for the consecutive 4th year in 2011-12 in case of loans given to Reliance Industries Limited (RIL). It also infringed RBI’s single borrower exposure rules in case of loans to two state-run entities — Indian Oil Corp (IOC) and Bharat Heavy Electricals Ltd (BHEL). The exposure was brought ..
The Petroleum Ministry disallowed the RIL’s (Reliance Industries Ltd) $1.24 billion cost recovery from its investment in the KG-D6 field, in the Krishna-Godavari (KG) basin. RIL has already taken the government to the Supreme Court over its inability to nominate an arbitrator over the issue of cost-recovery. Why Govt’s Notice to RIL? A Notice was ..
Al-Qaeda takes over Yemen city In Yemen, Al-Qaeda militants have taken over the city of Rada in the Southeastern Al Bayda province. They have named Tareq al-Dahab, a brother-in-law of slain US-born cleric Anwar al-Awlaqi, who was killed in a suspected US drone strike in September as the new Emir or the Governor. The group ..