Business & Economy, August 17th, 2018, Current Affairs Current Affairs Notes | EduRev

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Current Affairs : Business & Economy, August 17th, 2018, Current Affairs Current Affairs Notes | EduRev

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BUSINESS & ECONOMY

TCS piped RIL to become most valued Indian company: BSE
On August 17, 2018, according to BSE data, TCS overtakes RIL to become most valued Indian company.
i. The market capitalisation (m-cap) of

  • TCS stood at Rs 7,69,065.04.
  • RIL stood at Rs 7,60,644.73 crore.

ii. There is a difference of total Rs 8,420.31 crore in m cap.
iii. Earlier, on July 31st 2018, RIL was ranked the top company according to m cap crossing the USD 100-billion market capitalisation mark.

RIL:
Headquarters: Mumbai.

TCS:
Headquarters: Mumbai.

Background:
On August 1, 2018, in Fortune 500 list of companies, RIL ranked 148 jumping 55 places. It was the top private sector Indian company.

RUCO (Repurpose Used Cooking Oil): FSSAI’s initiative to collect & convert used cooking oil into biofuel
On 10th August 2018, Food Safety and Standards Authority of India (FSSAI) launched RUCO (Repurpose Used Cooking Oil) initiative for collection and conversion of used cooking oil into bio-diesel.

RUCO (Repurpose Used Cooking Oil):
i. Under RUCO, 64 companies at 101 locations have been identified to enable collection of used cooking oil.
ii. According to FSSAI, India has the potential to recover 220 crore litres of used cooking oil for the production of biodiesel by 2022.
iii.As per FSSAI regulations, the maximum permissible limits for Total Polar Compounds (TPC) is 25 %. Beyond this limit, the cooking oil is not safe for consumption.
iv. FSSAI is working in partnership with Biodiesel Association of India and the food industry to make sure that used cooking oil regulations are followed properly.
v. FSSAI will also publish guidance documents, tips for consumers and posters regarding this. It is also conducting awareness campaigns through its e-channels.

About Food Safety and Standards Authority of India (FSSAI):
♦ CEO – Pawan Kumar Agarwal
♦ Headquarters – New Delhi

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