Reliance gets LC payment through Blockchain, a first for an Indian company

  • HSBC Holdings has executed a trade finance transaction to Reliance Industries Ltd.
  • The payment was made via Blockchain to RIL for an export to US-based Tricon Energy.
  • The letter of credit (LC) transaction done via Blockchain greatly reduces the time taken (from 7-10 days normally, to just 1 day using Blockchain technology).

RBI starts process to set up digital Public Credit Registry for capturing all details of borrowers

  • The Reserve Bank has initiated steps to set up a wide-based digital Public Credit Registry (PCR) to capture details of all borrowers.
  • The details will include wilful defaulters and pending legal suits.
  • The aim of the move is to check financial delinquencies.
  • The PCR will also include data from entities like market regulator Sebi, the corporate affairs ministry, Goods and Service Tax Network (GSTN) and the Insolvency and Bankruptcy Board of India (IBBI).
  • This will enable banks and financial institutions to get a complete profile of existing and prospective borrowers on a real-time basis.

Odisha CM launches Aerospace and Defence Manufacturing Policy

  • Odisha Chief Minister Naveen Patnaik launched the Odisha Aerospace and Defence Manufacturing Policy 2018. 
  • The aim is to further the process of industrialization through the promotion of aerospace and defence manufacturing enterprises.

NDMC launches QR-enabled fridge magnets for digital payment of bills

  • The New Delhi Municipal Corporation (NDMC) will distribute quick response-enabled smiley fridge magnets to consumers to facilitate digital payment of utility bills.
  • Under the “smart” initiative, the magnets will be personalised and each customer will have a unique QR Code mapped to their consumer account number.
  • Separate magnets will be provided by the NDMC for electricity and water bills.
  • Consumers will be able to stick these magnets on their refrigerators and use their smartphones to scan the QR Code on the magnet to pay their bills instantly.

Simone Biles sets world record with 13th World Championship gold

  • Simone Biles set a world record for most number of gymnastic gold medals, having picked up her 13th gymnastics gold.
  • The USA athlete won her 13th career gold medal at the world gymnastics championships in Doha, Qatar.

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