Multi-Commodity Exchange Clearing Corporation (MCXCCL), a wholly owned subsidiary of MCX, will commence operations from September 3, thus becoming the first clearing corporation in the commodity derivatives market in the country.
MCXCCL will provide secure counterparty risk management and post-trade services that would help mitigate risks. It will be the central counterparty for all trades executed on the MCX platform, the exchange said today.
***************** Max Life-Axis bancassurance partnership crosses Rs 10k-cr biz *
Max Life Insurance has said its new policy sales through the bancassurance partnership with Axis Bank has grossed over Rs 10,000 crore in new premium since inception of the partnership in 2010 by adding over 15 lakh customers.
The total individual sum assured stands at over Rs 88,960 crore, while it has collected a total premium of over Rs 24,000 crore since inception, the insurer said in a statement today.
***************** M&M rolls out 1 lakh units of Jeeto mini trucks *
Mahindra & Mahindra has said it has rolled out one lakh units of Jeeto mini trucks since its launch in 2015.
Produced at Mahindra's facility in Zaheerabad in Telengana, the Jeeto has eight variants in place now, the company said in a statement today.
***************** Mumbai airport inducts advanced pax evacuation vehicle *
The Mumbai international airport has inducted an advanced passenger evacuation vehicle for rescuing stranded personnel from inaccessible areas of and all types of aircraft including the A380, the biggest civilian aircraft available.
The vehicle will be used for rescuing stranded personnel, wherein conventional alighting systems cannot be employed, the airport said in a statement today.
This ladder can be extended up to a maximum height of 8.3 meters. The escape stairs have high evacuation load capacity of around 115 people at a time and is fitted with high pressure smoke ventilation system that can remove smoke from fuselage/cockpit.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)