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The Redmi Note 10 cant catch a break, so it seems. The entry-level offering in Xiaomis terrific value for money, and ever crowded Redmi Note 10 series, has just received another price hike in India – its fifth since launch. Buying a Redmi Note 10 just got a little more expensive in India as Xiaomi has bumped up its price by another Rs 500, which means the phone in question now starts at Rs 13,999. This is for the version with 4GB RAM and 64GB storage. Both Mi.com and Amazon are now reflecting the updated price. A silver lining is, the top-end 6GB\/128GB model of the Redmi Note 10 is still listed at Rs 15,499 meaning, its pricing remains unchanged at this point in time. The Redmi Note 10 is possibly the first Redmi phone to have received as many as five price updates. The phone was launched in India earlier this year, at a starting price of Rs 11,999 and Rs 13,999 was actually the price of the top-end 6GB\/128GB model. Earlier this month, Xiaomi had increased prices of both models of the Redmi Note 10 by Rs 500. This means, the base variant of the Redmi Note 10 has already received two price updates, in a row, in this month itself. This is not an isolated case either. Also Read | Mi Smart Band 6 unboxing and first look: Design, specs, features, and everything to know Just this month, Xiaomi also discontinued the base configuration of Redmi Note 10 Pro and Redmi Note 10 Pro Max in the country making both these phones a little more expensive to buy. Currently, the Redmi Note 10 Pro is available in two options only, 6GB\/128GB and 8GB While the 6GB RAM variant can be purchased for Rs 17,999, the 8GB RAM variant costs Rs 18,999. The Redmi Note 10 Pro Max is also available in the same configurations. While the 6GB RAM variant of Redmi Note 10 Pro Max is priced at Rs 19,999, the 8GB RAM variant is priced at Rs 21,999. Interestingly, the Redmi Note 10 price hike comes just days ahead of Redmi 10 Prime launch on September 3. This phone is supposed to be a sizeable upgrade over its predecessor and the strategic timing of the price hike raises concerns if Xiaomi would, maybe, price the Redmi 10 Prime higher with all the upgrades it is bringing to the table. The Redmi 10 Prime is expected to be the India variant of the Redmi 10 that packs features like a MediaTek Helio G88 system-on-chip and 50MP primary camera. The Redmi 9 Prime currently sells in India at a starting price of Rs 9,999 for a version with 4GB RAM and 64GB storage while a version with 4GB RAM and 128GB storage will set you back by Rs 11,999. Xiaomi also has a phone called the Redmi 9 Power that it sells at a starting price of Rs 10,999. It will be interesting to see how Xiaomi prices the Redmi 10 Prime.
Tomato prices in wholesale markets in most producing states have crashed to as low as Rs 4 per kg amid supply glut, government data showed. In fact, the wholesale prices of tomato in 23 growing centres out of 31 monitored by the government were down by 50 per cent from the year-ago period or below three-year seasonal average. Currently, tomato crop of the early kharif (summer) season of the 2021-22 crop year (July-June) is being harvested. According to the data, the wholesale price of tomato in Dewas in Madhya Pradesh – the countrys top tomato growing state – fell to Rs 8 per kg on August 28 of this year from Rs 11 per kg in the year-ago period. Similarly, the wholesale price of tomato at Jalgoan in Maharashtra – the countrys sixth largest tomato growing state – fell by 80 per cent to Rs 4 per kg on August 28 from Rs 21 per kg in the year-ago period. Tomato prices at Aurangabad declined to Rs 4.50 per kg from Rs 9.50 per kg, while that of Solapur to Rs 5 per kg from 15 per kg and in Kolhapur to Rs 6.50 per kg from 25 per kg in the year-ago period. Prices have come under pressure in key growing states because of the supply glut. The tomato crop has been good owing to favourable weather, National Horticultural Research and Development Foundation (NHRDF) Acting Director P K Gupta told PTI. The tomato production from summer (early Kharif) season is estimated to be better than last year and farmers can be saved from falling prices if food processing companies come to their rescue, he said. No doubt, the favourable weather has helped boost the crop production, but farmers tendency to grow the crop the price of which was ruling higher at the time of sowing – has added to higher production, he added. When production is higher, prices come under pressure, Gupta said. According to the government data, wholesale price of tomato at Kolar in Karnataka – the countrys fourth largest tomato growing state – dropped to 5.30 per kg on August 28 from Rs 18.70 per kg in the year-ago period, while that of in Chickkaballapura fell to Rs 7.30 per kg from 18.50 per kg in the said period. Similarly in Andhra Pradesh, the countrys second largest tomato growing state, the wholesale price at Palamaner in Chitoor district fell to Rs 18.50 per kg from Rs 40 per kg. Palamaner and two more cities Madanpalle and Mulakalacheruvu in Chitoor district saw prices falling sharply from the year-ago period. And these three centres are identified as clusters for development under the governments Operation Green programme. In Uttar Pradesh too, prices fell in the range of Rs 8-20 per kg on August 28 this year from Rs 14-28 per kg in the year-ago period. In West Bengal, wholesale price of tomato declined to Rs 25-32 per kg in different growing areas from Rs 34-65 per kg in the said period, the data showed. In consuming markets too, wholesale prices of tomatoes showed a decline. In Delhis Azadpur mandi, wholesale price of tomato declined to 24 per kg on August 28 from Rs 36 per kg in the year-ago period. Wholesale price of tomato in Mumbai declined to Rs 12 per kg from Rs 30 per kg, while that of in Bengaluru to Rs 8 per kg from Rs 30 per kg in the said period. Tomato crop is ready for harvest in about 2-3 months after planting. Indias tomato production rose by 2.20 per cent to 21 million tonnes in the 2020-21 crop year (July-June) as against 20.55 million tonnes in the year-ago period, as per the Agriculture Ministrys second advance estimate.
Bank accounts under Pradhan Mantri Jan Dhan Yojna (PMJDY) have increased to 43 crore with total deposits over Rs 1.46 lakh crore, the finance ministry on Saturday said as the governments flagship financial inclusion scheme completes seven years of implementation. The PMJDY was announced by Prime Minister Narendra Modi in his Independence Day address on August 15, 2014 and was simultaneously launched on August 28 to foster financial inclusion. This national mission was launched to ensure people have access to financial services, namely, banking, remittance, credit, insurance, pension in an affordable manner. As on August 18, 2021, the number of total PMJDY accounts stood at 43.04 crore. Of this, 55.47 per cent (23.87 crore) Jan-Dhan account holders are women and 66.69 per cent (28.70 crore) holders are in rural and semi-urban areas, the finance ministry said in a statement. During the first year of the scheme, 17.90 crore PMJDY accounts were opened. Out of total 43.04 crore PMJDY accounts, 36.86 crore or 85.6 per cent are operative, and the average deposit per account is Rs 3,398, as per the statement. Increase in average deposit is another indication of increased usage of accounts and inculcation of saving habit among account holders, it said. Total RuPay cards issued to PMJDY account holders rose to 31.23 crore. For account opened after August 28, 2018, the free accidental insurance cover on RuPay cards increased from Rs 1 lakh to Rs 2 lakh. On this occasion, the Prime Minister tweeted, Today we mark seven years of #PMJanDhan, an initiative that has forever transformed Indias development trajectory. It has ensured financial inclusion and a life of dignity as well as empowerment for countless Indians. Jan Dhan Yojana has also helped further transparency. Appreciating the untiring efforts of all those who have worked to make PMJDY a success, he said, their efforts have ensured the people of India lead a better quality of life. Finance Minister Nirmala Sitharaman, while underlining the importance of the scheme, said the journey of PMJDY led interventions undertaken over a short span of 7 years has in effect, produced both transformational as well as directional change, thereby making the emerging financial inclusion ecosystem capable of delivering financial services to the last person of the society-the poorest of the poor. The underlying pillars of PMJDY, namely, Banking the Unbanked, Securing the Unsecured and Funding the Unfunded has made it possible to adopt multi-stakeholders collaborative approach while leveraging technology for serving the unserved and underserved areas as well, she said. Under the PM Garib Kalyan Yojana announced on March 26, 2020, an amount of Rs 500 per month for three months (April20 to June20) was credited to the accounts of PMJDY women account holders, the finance ministry said. A total of Rs 30,945 crore has been credited in accounts of women PMJDY account holders during Covid lockdown as an income support measure. About 5 crore PMJDY accountholders receive direct benefit transfer (DBT) from the Government under various schemes, the ministry statement added. To ensure that the eligible beneficiaries receive their DBT in time, the government takes an active role in identification of avoidable reasons for DBT failures in consultation with DBT Mission, NPCI, banks and various other ministries, it said. With close monitoring in this regard through regular video conferencing with banks and NPCI, the share of DBT failures due to avoidable reasons as a percentage of total DBT failures has decreased from 13.5 per cent (FY 19-20) to 5.7 per cent (FY 20-21), it noted. On the road ahead, the finance ministry said, eligible PMJDY account holders will be sought to be covered under the Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). Banks have already been communicated about the same, it said. The government is also focussed on promotion of digital payments including RuPay debit card usage amongst PMJDY account holders through creation of acceptance infrastructure across India, it said. Another focus area is improving access of PMJDY account holders to micro-credit and micro investment such as flexi-recurring deposit etc, it said
America has ended its longest war in Afghanistan, President Joe Biden announced on Tuesday, hours after the final US evacuation plane flew out of Kabul airport amidst celebratory gunfire from the Taliban, leaving the country in disarray and its future uncertain under the rule of hardline Islamist militants. The last plane carrying US forces left Afghanistan on Monday around midnight, a day ahead of schedule, ending a 20-year war that left nearly 2,500 American troops dead and spanned four presidencies. The C17 aircrafts departure from Kabuls international airport was the final chapter in a contentious military effort, which eventually saw the US handing Afghanistan back to the very Islamist militants it sought to root out when American troops entered the country in 2001. Celebratory gunfire and fireworks erupted across Kabul as Taliban fighters took control of the airport following the withdrawal, proclaiming full independence for Afghanistan. Now, our 20-year military presence in Afghanistan has ended, Biden said, thanking armed forces for their execution of the dangerous retrograde from Afghanistan with no further loss of American lives. For now, I will report that it was the unanimous recommendation of the Joint Chiefs and of all of our commanders on the ground to end our airlift mission as planned. Their view was that ending our military mission was the best way to protect the lives of our troops, and secure the prospects of civilian departures for those who want to leave Afghanistan in the weeks and months ahead, he said. The president, who will address the nation later on Tuesday, said he has asked the Secretary of State to lead the continued coordination with US international partners to ensure safe passage for any American, Afghan partners and foreign nationals who want to leave Afghanistan. This will include work to build on the UN Security Council Resolution that sent the clear message of what the international community expects the Taliban to deliver on moving forward, notably freedom of travel, he said. The Taliban has made commitments on safe passage and the world will hold them to their commitments. It will include ongoing diplomacy in Afghanistan and coordination with partners in the region to reopen the airport allowing for continued departure for those who want to leave and delivery of humanitarian assistance to the people of Afghanistan, Biden said. He urged all Americans to join him in ?grateful? prayer for three things. First, for our troops and diplomats who carried out this mission of mercy in Kabul and at tremendous risk with such unparalleled results: an airlift that evacuated tens of thousands more people than any imagined possible, Biden said. Second, to the network of volunteers and veterans who helped identify those needing evacuations, guide them to the airport, and provide support along the way. And third, to everyone who is now and who will welcome our Afghan allies to their new homes around the world, and in the United States, he added. Secretary of State Antony Blinken said the Taliban will have to earn international legitimacy and support by meeting their commitments on freedom of travel, counterterrorism, respecting the basic rights of the Afghan people, including women and minorities, and forming an inclusive government. Blinkin said the US will engage with the Taliban not on the basis of what a Taliban-led government says, but what it does to live up to its commitments. The Taliban seek international legitimacy and support. Our message is: any legitimacy and any support will have to be earned, Blinken said in an address to the nation hours after the US concluded its mission to Afghanistan early Tuesday. The Taliban can do that by meeting commitments and obligations on freedom of travel; respecting the basic rights of the Afghan people, including women and minorities; upholding its commitments on counterterrorism; not carrying out reprisal violence against those who choose to stay in Afghanistan; and forming an inclusive government that can meet the needs and reflects the aspirations of the Afghan people, he said. The US completed the withdrawal of its forces from Kabul, ending 20 years of war that culminated in the Talibans return to power on August 15. The Taliban insurgents stormed across the country, capturing all major cities in a matter of days, two weeks before the US was set to complete its troop withdrawal after a costly two-decade war. Defence Secretary Lloyd Austin in his remarks on the troop withdrawal said no other military in the world could accomplish what the US, its allies and partners did in such a short span of time in Afghanistan. No other military in the world could accomplish what we and our allies and partners did in such a short span of time. That is a testament not only to our forces capabilities and courage but also to our relationships and the capabilities of our allies and partners, Austin said in a statement at the conclusion of the American mission in Afghanistan. Over the course of more than four decades in service, I have never ceased to be amazed at what an American service member can do. I remain in awe. And I am thankful for the skill and professionalism with which they do it, he said. Post evacuation mission, Austin said the US will help Afghan friends as they now turn to the task of beginning new lives in new places. We will provide these men, women, and children with temporary living spaces, medical care, and sustenance at military facilities at home and abroad. We will continue to support the interagency effort led by the Department of Homeland Security to screen them and to process some of them to lead new lives in America. And we will work hard to defend our citizens from terrorist threats emanating from anywhere around the globe, he said. Chaos enveloped Kabul after Afghanistans government collapsed and the Taliban seized control on August 15. Forced into a hasty exit, Washington and its NATO allies carried out a massive but chaotic airlift over the past two weeks.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The prices of petrol and diesel were left unchanged by oil market companies on Thursday, for a second day straight. Today, petrol in the national capital costs Rs 101.49 per litre, while Diesel in the capital city is retailing at Rs 88.92 per litre. So far this week prices have been cut twice. The price of petrol was cut for the first time in 35 days on Sunday. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates. Mumbai52 per litre. Diesel in the country48 per litre. The divergence in prices between Delhi and Mumbai is due to various local VAT factors in different cities. Petrol and Diesel prices are fixed on the basis of freight charges, local taxes, and VAT. Petrol has crossed the Rs 100-a-litre mark in Delhi, Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Jammu and Kashmir, Odisha, Tamil Nadu, Ladakh, and some cities of Bihar and Punjab. Petrol, diesel prices in Chennai, Kolkata, Bengaluru, Hyderabad, UP, Punjab, Haryana, Pune -Chennai: Petrol prices 20 per litre; Diesel prices 52 per litre -Kolkata: Petrol prices 82 per litre; Diesel prices 98 per litre -Pune: Petrol prices 08 per litre; Diesel prices 59 per litre -Bengaluru: Petrol prices 98 per litre; Diesel prices 34 per litre -Hyderabad: Petrol prices 54 per litre; Diesel prices 99 per litre -Noida (UP): Petrol prices 79 per litre; Diesel prices 49 per litre -Mohali (Punjab): Petrol prices 65 per litre; Diesel prices 98 per litre -Chandigarh: Petrol prices Rs 97.66 per litre; Diesel prices 62 per litre -Gurugram (Haryana): Petrol prices 21 per litre; Diesel prices 60 per litre Crude Oil price Crude oil prices fell on Thursday morning, halting an upward march seen earlier this week. According to Reuters, Brent crude futures were trading at $71.80 per barrel while the U.S. West Texas Intermediate futures were at $67.81 a barrel. Brent Crude and WTI Crude have risen more than 8% so far this week.
Realty firm Eldeco group has partnered with HDFC Capital Advisors real estate fund to set up a Rs 150 crore platform for development of low-rise and plotted development projects. Eldeco Infrastructure and Properties Ltd, which is part of Eldeco group, has joined hands with HDFC Capital Affordable Real Estate Fund 1 (H-CARE 1), a fund managed by HDFC Capital Advisors Ltd, to form a platform focused on the development of low-rise, plotted development projects, Eldeco group said in a statement. The proposed developments will be undertaken by a special purpose vehicle Eldeco Greens Infrastructure Private Limited set up with an initial investment of Rs 150 crore, it added. Currently, two projects have been identified in Panipat and Faridabad with combined saleable area of approximately 1.5 million square feet and sales revenue of about Rs 500 crore. Renu Sud Karnad, Managing Director, HDFC, said In line with the Housing for all 2022 vision of the Government of India, HDFCs endeavour is to help address the demand-supply gap in affordable housing in India by providing flexible, long-term capital to leading developers across India. We are committed to partnerships with trusted real estate brands like Eldeco with a good track record of development and delivery, she said. Vipul Roongta, MD and CEO of HDFC Capital Advisors Ltd, said: Through our partnership with Eldeco Group, we will focus on meeting the increasing demand for high-quality low-rise and plotted development at affordable prices. This is in line with HDFC Capitals strategy of partnering with top-rated developers to increase the supply of affordable and mid-income housing in India while ensuring quality and timely construction, he added. Pankaj Bajaj, Chairman of Eldeco Group, said there has been an upsurge in demand for plots and low-rise development in gated townships after the pandemic, with most players in this segment reporting robust sales. We are present in 15 cities of north India and everywhere we are facing inventory shortage, Bajaj said. Established in 1985, Eldeco Group is a North India-focused real estate developer with strong presence in Tier 2 cities. The group operates in Lucknow through the BSE listed entity Eldeco Housing and Industries Limited (EHIL) and in rest of the cities through the closely held Eldeco Infrastructure and Properties Limited (EIPL). The company has delivered 175 projects with approximately 30 million square feet of real estate development. Besides these, the Group has 30 projects with 35 million sq ft in various stages of execution. HDFC Capital Advisors Limited, a 100 per cent subsidiary of HDFC Limited, provides investment management services for real estate private equity financing and is one of the largest fund managers in the country. The company is the investment manager to HDFC Capital Affordable Real Estate Fund 1 (H-CARE 1) and HDFC Capital Affordable Real Estate Fund 2 (H-CARE 2), both SEBI registered Category II Alternative Investment Funds. The primary investors in the H-CARE funds include a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and the National Investment and Infrastructure Fund (NIIF). PTI MJH MJH
Fitbit has unveiled the new Charge 5, featuring a sleek new design and brighter display. The Charge 5 is 10 percent thinner than its predecessor, but will still offer up to seven days of charge. Fitbit has introduced a new health metric – Daily Readiness Score – that can calculate workout readiness and suggests what the user should do on any given day on the basis of their sleep, heart rate, and activity. Depending on the score, the fitness band will suggest activities such as high-intensity workouts, light yoga, or rest. Fitbit Charge 5 also includes features such as an EDA sensor to track stress levels and an on-wrist ECG app. The Fitbit Charge 5 houses a combination of glass, aluminium, and resin with a silicone band. The stainless-steel rails on the side act as sensors for the EDA and ECG app. The 1.04-inch AMOLED touchscreen display comes with peak brightness of 450 nits and an Always-On mode, but does not feature any buttons. Fitbit has claimed the display is two-times brighter than the Charge 4. Fitbit has said the band takes two hours to charge, powering the band for seven days. The Fitbit Charge 5s colour options include Platinum\/ Steel Blue, Soft Gold\/Lunar White, and Graphite The fitness tracker also features built-in GPS + GLONASS, 20 colourful watch faces, skin temperature sensor, SpO2 sensor, and optical heart rate monitor, apart from NFC. The Charge 5 is water resistant up to 50 metres and compatible with devices running Android 8.0 or higher or iOS 12.2 or higher. The Fitbit Charge 5 comes with email relaying and call notifications capability and, for Android devices, features quick replies. It also has a Smart Wake alarm, a Do Not Disturb mode, and Fitbit Pay contactless payments (in some markets). The device connects to smartphones using Bluetooth and also supports Google Fast Pair. As for the Daily Readiness Score, accessible only to Fitbit Premium users, analyses activity levels, three-day sleep cycle, and heart rate. Other features include real-time active zone minutes tracking, 20 goal-setting exercise modes, automatic exercise recognition, and sleep monitoring. The ECG app, which will be made available soon, will provide a PDF report after each assessment that can be shared with doctors. The Fitbit Charge 5 will also send on-wrist notifications if the heart rate exceeds the preferred range. Other data it offers are on breathing rate, skin temperature, heart rate variability, menstrual cycle, and blood oxygen saturation (SpO2). Fitbit has priced the Charge 5 at Rs 14,999 for the Indian market. The fitness band, which will come with a six-month free Fitbit Premium membership, will go on sale in India from fall. Fitbit Premium will grant users access to workout videos from Physique 57, Daily Burn, Aaptiv, Popsugar, and many others and over 300 mindfulness sessions from Croix, Deepak Chopra, and Breethe. Fitbit will also have 30 new content pieces after partnering with the Calm app.
Mizorams COVID-19 tally soared to 57,962 on Monday as 440 more people, including 88 children, tested positive for the infection, a health official said. The northeastern states coronavirus death toll rose to 213 as a 68-year-old woman from Aizawl succumbed to the infection. Aizawl reported the highest number of new cases at 310, followed by Mamit (74) and Kolasib (15), he said, adding that all the fresh infections were detected during contact tracing and the single-day positivity rate stood at 22.59 per cent. Mizoram now has 8,510 active cases, while 49,239 people have recovered from the infection so far, including 271 on Sunday. The recovery rate among the coronavirus patients in the state stood at 84.95 per cent, while the mortality rate was at 0.36 per cent. The state has so far tested over 8.47 lakh samples for COVID-19, including 1,948 in the last 24 hours. More than 6.54 lakh people have been inoculated to date, of whom 2.35 lakh have been fully vaccinated.
Barclays Bank India on Thursday said that its London-based head office will make an investment of over Rs 3,000 crore in the India office to accelerate its growth ambitions in the country. With this infusion, the bank The last round of capital infusion was to the tune of Rs 540 crore and was made in 2009-10. The latest infusion will be the largest one-time infusion made by the parent into the India operations since its inception. The expansion in tier-I capital will enable further growth of the bank Jaideep Khanna, head of Barclays, Asia Pacific and Country CEO, India, said that the capital infusion in the bank reflects the success and strong track record of the bank As economic activity gathers momentum, there is an increased demand for capital from clients and Barclays Bank India is well placed to support their objectives, Khanna added. As part of its expansion plans in the country, Barclays Bank Plc also inaugurated its international banking unit (IBU) branch at GIFT City in Gujarat in February 2021.
By While this industry is highly regulated and governed by the Reserve Bank of India, yet ambiguity surrounds the forex transactions In India, OTC forex transactions are the ones done with banks as counterparties. On average over $40 billion of forex is transacted on a daily basis over the OTC platform in India, of which MSMEs contribute to around 25 per cent. It is noteworthy to mention here that currently, MSMEs contribute around 32 per cent to India Despite being an important contributor to the growing forex business, MSMEs often get trapped between the complexities and jargon of the forex market that often gets too technical. Spot, futures, forward, currency pair, bid price, ask price, cross pair, and various other aspects that need a hawk eye to derive advantage out of a forex transaction is lacked by them. A foreign exchange transaction normally consists of buying and selling rate of the currency, forex transaction charges, and remittance charges. Banks however tend to share partial information with the clients. This leads to ambiguity and opaqueness in forex transactions. One of the biggest factors in settling a forex transaction is the spot rate, the market price at which the transaction is done. Normally, real-time foreign exchange spot rates are available on live data terminals like Bloomberg, Reuters, Cogensis, etc., just like the stock prices are shown on the brokerage platforms of stock exchanges. Banks also rely on Bloomberg and Reuters for forex deal-making but most MSMEs do not have access to these live rates (real-time data terminals are quite expensive). Banks tend to take advantage of this situation and normally quote a higher or lower forex rate (0.5% to 1.5%) than the live currency rate. They tend to build in currency fluctuations risk and combine few other charges like the bank commissions or forex transaction charges, service charges, etc. Once agreed, the bank would settle the transaction at the lowest\/highest possible rate thereby making a handsome profit on each forex transaction. In the year 2020-21 Indian banks made approximately Rs 60,000 crore from overall forex transactions. Subscribe to Financial Express SME newsletter now: For MSMEs, these charges prove costly and are a direct hit on their bottom line. With accurate information and the right negotiation skills, these charges can be reduced substantially and the savings could be ploughed back into the business and help grow the MSME sector. Due to their sizeable forex transactions, large corporates can afford to hire forex experts to negotiate with the banks, however MSMEs lack on both platforms. Owing to smaller transaction sizes, MSMEs neither are able to afford experts nor do they have the negotiation power against the mighty banks. This is where technology is playing a helping hand to MSMEs. In the last year and a half, the pandemic has been brutal for MSMEs at large. The high interest costs resulting from higher debtor cycles are hurting their bottom line. The volatile currency market is also creating confusion for exporters and importers. MSMEs can negotiate themselves with the banks in case they have the access to inter-bank rates. Also, the application of cash discounts or forward premiums makes it complex for MSMEs to really understand the arithmetic around forex calculations. The absence of forex know-how and the limited capability to handle volatile forex markets is leading to consistent losses for the MSMEs. The online forex platforms have been able to address the issue of opaqueness in forex transactions and have primarily focused on bringing transparency in the overall process. They bring the information and the massive research done by various global experts\/agencies and offer it to MSMEs for taking a logical decision with respect to forex trade MSMEs have, thus, been benefitted as they now have greater flexibility in dealing with the banks, much like the large organizations. This has resulted in the generation of substantial savings for MSMEs in the form of interest cost on forex transactions which in turn has led to increased working capital for them. The government has been trying to give impetus to the MSMEs, and RBI from time to time has tried simplifying foreign exchange rules, and have been prompting banks to be more transparent with respect to their dealings on forex. RBI has also created platforms like Clearing Corporation of India where retail customers and MSMEs can register and do their forex transactions. However, a large part of MSMEs is yet to use such platforms and benefit from them. With more knowledge being disseminated by various players in the market, forex transactions are set to be more transparent in the future. Anand Tandon is the Founder and CEO of Views expressed are the author