General Awareness

BUSINESS AND ECONOMY - January 2021

Jan 2021

Aug 01, 2026

Brookfield launches Lumara Renewable Energy Platform in India

Brookfield Asset Management, the global investment firm, announced the launch of Lumara Renewable Energy Platform in India in July 2026. Lumara aims to deploy approximately USD 600 million across solar, wind and battery energy storage projects. It will begin operations with an initial portfolio exceeding 6 gigawatts, drawn from Brookfield's development pipeline and potential acquisitions. The platform plans to address Indian market challenges such as land acquisition, grid connectivity and the negotiation of power purchase agreements with utilities and offtakers. This activity supports India's ambition to expand renewable energy capacity to about 500 gigawatts by 2030 and could attract further private capital into the sector.

Lumara to invest about USD 600 million in solar, wind and battery storage projects.
Initial portfolio exceeds 6 GW of capacity.
Focus areas include land, grid connectivity, and PPA negotiations.
Aligns with India's target of around 500 GW renewable capacity by 2030.
Could attract additional private investment into India's clean energy market.

NLC India to develop 900 MW solar project in Gujarat

NLC India Limited announced the development of a 900 megawatt solar power project in Gujarat. The project will be implemented through its wholly owned subsidiary, NLC India Renewables Limited (NIRL). A Letter of Intent has been received from Gujarat Urja Vikas Nigam Limited (GUVNL) following a competitive bidding process. The project will broaden NLC India's renewable energy portfolio and strengthen its footprint in western India. It will leverage Gujarat's solar potential and policy framework to accelerate deployment, while contributing to national solar capacity growth, energy security and job creation in the region.

900 MW solar project in Gujarat via NLC India Renewables Limited.
LOI received from GUVNL after competitive bidding.
Project strengthens NLC India's renewable portfolio.
Western India footprint expansion with Gujarat's solar strengths.
Supports national solar capacity goals and regional employment.

Jul 31, 2026

Rajasthan grants rare-earth exploration licence

Rajasthan became the first Indian state to issue an exploration licence for rare-earth elements. The licensed area covers 207.63 square kilometres in the Navatala–Devigarh region, spanning Balotra district and Shergarh tehsil of Jodhpur district. The licence aims to strengthen exploration for strategically important minerals essential for high-technology manufacturing and defence. Officials emphasise environmental and community consultations will accompany the exploration, with regulatory oversight from central and state authorities. Industry experts see the move as a potential attractor for investments, strengthening domestic supply chains for critical minerals and reducing import dependence in line with national resource-security goals.

Licence area: 207.63 sq km in Navatala–Devigarh (Balotra, Shergarh).
First such licence granted by an Indian state for rare earths.
Strategic minerals for tech, defense supply chains highlighted.
Regulatory oversight includes central and state frameworks.
Potential investment and domestic supply-chain benefits.
Implications for India’s resource security strategy.

Jul 30, 2026

Axis Finance launches DRISHTI platform

Axis Finance Limited launched DRISHTI, an in‑house digital platform for retail and MSME lending. The platform aims to improve credit decisioning, underwriting efficiency, and risk oversight by combining statistical scorecards, digital workflows, and data‑driven insights for faster credit assessment. The first phase covers personal loans, business loans, loans against property, and Disha Home Loans. DRISHTI is designed to streamline operations, reduce turnaround times, and enhance governance. The launch reflects a broader trend of digital transformation in Indian finance, with lenders leveraging analytics to extend access to credit for small businesses and individuals.

DRISHTI is Axis Finance’s in‑house lending platform.
Targets retail and MSME lending with analytics.
Initial coverage includes personal, business, and property loans.
Aims to speed credit decisions and strengthen risk oversight.
Part of broader digital finance transformation in India.

Jul 29, 2026

RBI polymer banknote trials approved; ₹10 and ₹20 notes tested

On 27 July 2026, the Centre approved the Reserve Bank of India's proposal to conduct field trials of polymer banknotes in the ₹10 and ₹20 denominations. The plan envisages issuing up to 1 billion notes of each denomination for the trials, and these polymer notes would circulate alongside existing paper currency during the testing period. The aim is to test durability, security features and public acceptance before any wider rollout. Government officials emphasise that there is no plan to replace paper currency in the near term. The RBI and the Finance Ministry will monitor logistics, costs and environmental impact, informing future currency strategy.

Centre approved RBI polymer note field trials for ₹10 and ₹20 notes.
Up to 1 billion notes of each denomination planned for trials.
Polymer notes to circulate alongside paper currency during testing.
No immediate replacement of paper currency anticipated.

Jul 23, 2026

EnKash launches UPI-based meal card for employees

EnKash, a business payments and spend management platform, launched India’s first meal card that supports UPI-based payments in July 2026. Employees can use their meal card balance by scanning eligible UPI QR codes at participating food and grocery merchants across the country. The service integrates with existing digital payments infrastructure to simplify expense management for employers and staff. The launch is part of a broader push toward digitization of employee benefits and reimbursement processes, potentially reducing administrative overhead and improving transparency in employee spending.

EnKash unveils India’s first UPI-enabled meal card.
Accessible at participating food and grocery merchants nationwide.
Balances are paid via UPI QR code payments.
Aims to simplify employee benefits and expense management.

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