IL&FS has sold its 52.3% stake in Terracis Technologies (TTL) to Philippines-based Falcon SG Holdings. The transaction has addressed Rs 1,275 crore of the IL&FS group debt and resulted in its exit from technology business.

The sale will reduce the number of companies in the group by five as TTL operates through four subsidiaries. These are Land Registration Systems Incorporation (LARES), IL&FS Technologies Philippines (ITP), LIVIA India, and Bhopal e-Governance. LARES is implementing a ‘land titling and computerisation project’ for the Philippine government, while ITP provides managed services, system integration and geospatial services. LIVIA, which was providing tech support to IL&FS group companies, is currently under liquidation, and Bhopal e-Governance provides land revenue management solutions for the Madhya Pradesh government.

Union Minister Bhagwanth Khuba on Wednesday said a scheme for boosting research and development of electrolysers will be rolled out soon, a step in the direction of achieving India's renewable energy targets.

An electrolyser is a system that uses electricity to break water into hydrogen and oxygen in a process called electrolysis.

Khuba made the remarks while addressing the first International Conference on Hydrogen Energy - Policies, Infrastructure Development and Challenges organised here by Central Board of Irrigation & Power.

Tata Group’s solar power arm is in final stages of negotiations with the Tamil Nadu government as it plans to set up a 4GW integrated solar photovoltaic cell manufacturing unit in Gangaikondan near Tirunelveli.

“The investment by Tata would be around Rs 3,000 crore with an employment potential of 2,000 locals, predominantly women,” highly placed officials in the Tamil Nadu government said.

The investment commitment by Tata Group is viewed as “significant”, as it will help the state to showcase itself as an attractive solar power manufacturing location. It is also expected to boost investments to southern states which have not attracted too many till now.

Union Minister of State for Ports, Shipping, and Waterways Shantanu Thakur has inaugurated a number of projects at the Haldia Dock Complex of Syama Prasad Mookerjee Port in Kolkata.

The projects, inaugurated on Sunday, included works to improve stormwater disposal and widening of roads, the inclusion of 41000 sqm of Cargo Handling area, upgrading and landscaping of Port Guest House, and new ICU and Emergency Ward at Port Hospital.

The Minister was accompanied by Dibyendu Adhikari, MP, Tapashi Mandal, MLA, and Chairman of the Port Vinit Kumar.

Digital payments platform Paytm recorded a 418 percent year-on-year growth in the value of loans disbursed in October, the company said in a regulatory filing on November 21.

"The October 2021 month saw continued increase in adoption across our different financial services products. The lending business continued to show very strong growth as a result of rapid scale-up of all of our lending products, including Postpaid, consumer loans and merchant loans," it said.

"Our financial institution partners disbursed a total of 1.3 million loans in October 2021 aggregating to a total disbursal of INR 6,270 million ($84 million), implying a 472% increase in numbers of loans disbursed Y-o-Y and 418% increase in value of loans disbursed Y-o-Y," the regulatory filing noted.