Sharat Chandra News

Shirdi Sai Electricals Limited will make an initial investment of Rs 15,000 crore to build an integrated solar cell to module manufacturing facility at Ramayapatnam in Andhra Pradesh, its CEO Sharat Chandra said on Wednesday. The investments in the first phase are being made through subsidiary Indosol Solar to set up 5 gigawatts (GW) of moduleS, 5 GW wafers, 5 GW ingot and 5 GW glass capacities, he told PTI over the phone. «We have started the production of the module from Sunday (March 31). We call it Phase 1A, which is part of Phase 1. Initially, we started 500 MW module manufacturing by investing Rs 1,300 crore. The entire phase-1 (comprising 500 MW each of module, cell, wafer, and ingot) will be completed by 2025. Additionally, a manufacturing capacity of 5 GW of Glass, a raw material product, will also be set up,» he said The entire project is of 30 GW upstream capacity. It is part of the government's PLI scheme for the solar industry, Chandra said without sharing the entire project cost.

The best time to buy real estate was 20 years ago. The second-best time is today. —Warren Buffett International investment guru Buffett’s quote holds true not just for the baby boomers but millennials as well.

India (RBI) is working with lenders to introduce new features to popularise the central bank digital currency (CBDC), the so-called e-rupee, according to six people familiar with the matter. Retail CBDC transactions are averaging close to 18,000 a day, way short of the RBI's one million-a-day target by 2023 end. The features include allowing digital rupee transactions when a customer is offline and linking the e-rupee to India's popular Unified Payments Interface (UPI), three of the people quoted above said. UPI is an instant real-time payments system that allows users to transfer money across multiple banks without disclosing bank account details. The sources declined to be identified as they are not authorised to speak to the media.

Blockchain Ecosystem have formed India Blockchain Forum. The organisation was launched on Sunday in Hyderabad, Telangana. It was launched by Jayesh Ranjan, Principal Secretary, Industry & Commerce and Information Technology, Government of Telangana. India Blockchain Forum has been started with a vision to make India a global hub for Blockchain and Web3.0. It shall create community chapters across the country to increase awareness and access to global best practices. India Blockchain Forum envisages a collaboration model with governments, Regulators, Industry and academia to help build a holistic framework for the right adoption of blockchain and web3.0.

History repeated itself as the Polkadot-based decentralized finance (DeFi) platform Acala’s native stablecoin, Acala Dollar (aUSD), lost its parity, plummeting 99 per cent and its value was reduced to some fractions of a cent. However, this time, it was a hacking attack that led to this steep fall. aUSD was under pressure after hackers exploited a bug in a newly deployed liquidity pool to mint 1.28 billion tokens. The infamous depegging of Terra Foundations stablecoin is not an old legend for crypto investors, which wiped out about $30 billion from investors kitty in merely 100 hours.