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The Dollar Business Bureau The Madhya Pradesh state government formally signed strategic agreements to fuel India’s ambitions of cheaper solar tariff. A formal function at Delhi, presided by Piyush Goyal, Union power minister, Shivraj Chouhan, Chief Minister of Madhya Pradesh and Venkaiah Naidu, Union Minister for Urban Development, saw signing of deals for the Rewa Ultra Mega Solar Park (RUMSP). RUMSP is a joint venture between the Madhya Pradesh Urja Vikas Nigam Limited and Solar Energy Corporation of India Limited, aimed at a 1,590 acre solar park in the Gurh tehsil of Rewa district. Official release from the ministry as well as International Finance Corporation (IFC), a World Bank affiliate confirmed the development. IFC, the official transaction and auction advisor, shared in an ...

The Dollar Business Bureau Telecom major Bharti Airtel Ltd has acquired the 4G business of Tikona Digital Networks for Rs1,600 crore, to ramp up its capacity of a high-speed broadband spectrum to take on Vodafone-Idea Cellular and Reliance Jio Infocomm in a highly competitive telecom market which is witnessing rapid consolidation. The deal, which was announced just a few days after the merger of Vodafone and Idea, will give an edge to Bharti Airtel as the largest telecommunications company in India. Through this deal Bharti can gain access to Tikona’s 4G airwaves in five states of Gujarat, UP (West), UP (East), Rajasthan and Himachal Pradesh.  This will also bridge the gap between Bharti Airtel's pan-India 4G capacity and Reliance Jio and ...

Sneha Gilada Apollo Clinics, initiated in 2002, over the years, has expanded to a network of 70 clinics across 30 cities in India. “No competitor has come anywhere close to establishing as many clinics,” Anand P Wasker, Chief Operating Officer (COO), Apollo Clinic, proudly stated at the opening of Apollo’s 7thclinic in Hyderabad at Manikonda. “Another branch is expected to come up in Uppal,” he added. The inaugural event was graced by the presence of chief guest Mr. KB Agarwal, Additional Secretary, Union Ministry of Health and Family Welfare. He expressed his appreciation for the contribution of private sector enterprises like Apollo in the field of healthcare, which are instrumental in the implementation of e-health and teleconsultation services in remote rural areas. Each ...

The Dollar Business Bureau Curbing power of the Reserve Bank of India (RBI) in determining key interest rates will have a negative impact on the country’s prospect, Moody’s Analytics—research wing of the rating agency— said in a report. The criticism came days after the Financial Sector Legislative Reforms Commission (FSLRC) proposed the setting up of a seven-member panel for taking decisions on the monetary policy. The proposal suggests a paradigm shift from the existing system under which the RBI governor decides policy rates. “We believe that a government-elected panel undermines the RBI's independence. Moving to the new model would severely dent the RBI's competency: Credibility would be lower, politics would drive decisions, and transparency would be reduced,” Moody’s Analytics said in its ...

 The Dollar Business Bureau   The Government of India (GoI) is keen on setting up of International Finance Centres (IFC) in India and the move is expected to provide avenue towards enabling India to become a producer and exporter of international financial services.  This was informed by the Minister of State for Finance Jayant Sinha in his reply to Lok Sabha on Friday. This move towards setting up of financial centres is also expected to further provide scope for the finest financiers in India to exhibit his strength to the country’s advantage, the Minister added.  The IFCs will be set up in Specially Economic Zones (SEZ) and the first of its kind would be set up in Gujarat International ...