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India okays Nepal's request for electricity

New Delhi: The Centre has accepted Nepal's request for advance import approvals to offtake around 654 MW of peak electricity through power exchanges, but only in non-solar hours, people aware of the development said.Kathmandu had sought advance import approvals effective September to mitigate generation deficits caused by the recent flash floods. This advance approval for power demand from Nepal comes at a time when India is witnessing unusual domestic needs due to sultry weather, irrigation demand through a rather dry monsoon season, and less wind and hydro electricity generation amid the El Nino effect.Mail sent to the Ministry of Power remained unanswered until the publication of this report.134217956While solar hours are seeing sufficient generation to provide for the overall power demand in the country, non-solar hours have pressured coal-based and gas-based power plants. India's peak power demand has been hovering above 260 GW, which is unusually high for September. On Se...

Trump calls $5K payouts 'easy' to fit into budget

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Modi’s Ethiopia, Malaysia talks open new avenues

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RBI shuts Tata Sons’ escape, ₹2.01 L cr listing looms

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Pakistan wants a seat at the BRICS table

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Treat data as trust, not asset: RBI

Mumbai: Fintechs and financial institutions must treat data as a fiduciary responsibility, not a business asset, and use it strictly within the consent provided by users, Reserve Bank of India (RBI) governor Sanjay Malhotra said.In his address at the Global Fintech Fest, Malhotra said trust in the financial system ultimately drives adoption and endurance, leading to transformational impact."Every fintech in this room holds something which is much more valuable than the capital and that is the data. This data must be treated the way a trustee treats assets held for a beneficiary, collected with a clear purpose and used strictly within the consent provided, and protected as though it was one's own," Malhotra told a room full of bankers, fintech executives and regulators.Also read: Policy must balance innovation with accountability, resilience: RBI Deputy Guv Rohit JainHe reiterated the risks of adopting artificial intelligence (AI), including bias, exclusion, cybersecurity,...

Gandhinagar building collapse: 10 feared trapped

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