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India.com
24 minutes ago
- India.com
India's first hydrogen-powered train coach successfully tested at ICF Chennai
(Image: X/@AshwiniVaishnaw) New Delhi: Indian Railways has successfully tested the country's First hydrogen-powered coach at the Integral Coach Factory (ICF) in Chennai. This was announced by Railway Minister Ashwini Vaishnaw on Friday, 25 July. According to the minister's social media X post, the country is working on a 1,200-horsepower hydrogen train, which will help India to place itself amongst the leaders in hydrogen-powered train technology. 'First Hydrogen powered coach (Driving Power Car) successfully tested at ICF, Chennai. India is developing 1,200 HP Hydrogen train. This will place India among the leaders in Hydrogen powered train technology,' Vaishnaw posted on 'X'. Vaishnaw had informed Rajya Sabha in 2023 that Indian Railways has envisaged running 35 Hydrogen trains under 'Hydrogen for Heritage' at an estimated cost of Rs 80 crore per train and ground infrastructure of Rs 70 crore per route on various heritage and hill routes. Additionally, the Indian Railways has also awarded a pilot project for retrofitment of a Hydrogen Fuel cell on an existing Diesel Electric Multiple Unit (DEMU) rake along with ground infrastructure at the cost of Rs 111.83 crores, which is planned to be run on the Jind-Sonipat section of Northern Railway. The running cost of a Hydrogen fuel-based train is not established in IR scenario. It is estimated that the initial running cost of the Hydrogen fuel train set will be higher, which will subsequently reduce with an increase in the number of trains. Further, the use of Hydrogen as fuel provides larger benefits in the direction of green transportation technology to support zero carbon emission goals as a clean energy source. Last year, in a significant step towards promoting sustainable transportation solutions, Hardeep Singh Puri, Minister of Petroleum & Natural Gas, showcased India's advancements in green hydrogen mobility by demonstrating a hydrogen-fuelled bus powered by India's oil PSU Indian Oil to the Prime Minister of Bhutan, Tshering Tobgay and his delegation. (With ANI inputs)
India.com
24 minutes ago
- India.com
Meet two brothers who started business with only Rs 25000, now own Rs 3000000000 company, they are…, their business is…
Sanjeev and Rajeev Gupta are two brothers from Uttar Pradesh. Their father has a small grocery shop in a small town. They had seen their father's struggles and thought of building something bigger. They moved to Ghaziabad to start a small business. Sanjeev And Rajeev Gupta's Struggle In 1992, they borrowed Rs 25,000 from friends and started manufacturing their own air coolers. They gave the brand name 'Summercool' which was launched at Rs 1,600. Sanjeev and Rajeev faced several challenges, like earning customer trust. Many large showroom owners were skeptical about displaying Summercool products. However, the brand gained popularity due to its affordable pricing, quality. After a few months people started trusting their products, and the brand grew rapidly. In the first 10 years, their company grew at a rate of 50 times per year. The 'Summercool' Business Model In 2005, one unit caught fire and they faced losses. But due to their reputation in the market many Dealers and suppliers came forward for their support. Many distributors gave advance payments and raw material suppliers also gave them credit. Because of this they rebuilt the business. They now manufacture over 1 lakh products every month. Their business model is simple, wherein 80% of their products (excluding LED TVs and washing machines) are manufactured in-house, and 90% of sales happen through offline retail stores. Over the years, Sanjeev and Rajeev expanded beyond air coolers and added products like ceiling fans, exhaust fans, room heaters, LED TVs, kitchen appliances, and other fast-moving consumer electronics. Their company has headquarters in Ghaziabad, operates four modern factories with 200 people. They work with 250 distributors across 17 states, and their products are available in nearly 4,000 retail stores across the country. Online platforms like Amazon and Flipkart now contribute 10% to their sales.
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Business Standard
24 minutes ago
- Business Standard
RBI's 7-day VRRR receives significant demand due to reversal of ₹2 trillion
The Reserve Bank of India (RBI) received bids worth Rs. 1.42 trillion against a notified amount of Rs. 1.25 trillion at the seven-day Variable Rate Reverse Repo (VRRR) auction on Friday. The significant demand at the auction was driven by the previous week's reversal of Rs. 2 trillion that banks had parked with the RBI. The central bank accepted the notified amount at a cut-off rate of 5.49 per cent. 'The demand was there because of the reversal of Rs. 2 trillion,' said a dealer at a state-owned bank. 'Given that money market rates have softened again, VRRR auctions are expected to continue,' he added. The RBI had conducted two variable rate repo (VRR) auctions during the week after overnight money market rates rose above the repo rate. The RBI's two-day VRR auction, conducted on Wednesday, led to a decline in overnight money market rates, which had been trading above the MSF rate of 5.75 per cent. The marginal standing facility rate, set 25 bps above the policy repo rate, is the ceiling of the liquidity adjustment facility corridor. The standing deposit facility, which is 25 bps below the repo rate, is the floor. The policy repo rate is currently at 5.5 per cent. Market participants said that the fine-tuning via VRR auctions became necessary due to the large withdrawal during a week of liquidity stress. Next week, the RBI may not need a VRR, as government spending typically picks up in the last week of the month, they said. 'We don't expect more VRRs now, but a similar situation could arise around September 15 during tax outflows. The RBI might come back with VRR again around that time,' said a dealer at a primary dealership.
