Author: News Desk
The Reserve Bank of India (RBI) has imposed a significant penalty of ₹5.39 crore on Paytm Payments Bank, citing multiple instances of non-compliance with key RBI guidelines. This fine encompasses breaches related to Know Your Customer (KYC) regulations, cybersecurity provisions, and various other areas of regulatory compliance. The action comes as a result of the central bank’s rigorous analysis of deficiencies in Paytm Payments Bank’s adherence to RBI guidelines. Non-Compliance with RBI Guidelines Paytm Payments Bank faced penalties for its failure to adhere to various provisions within the ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016,’ ‘RBI Guidelines…
The Indian Space Research Organisation (ISRO) has encountered a formidable challenge in recruiting talent from the prestigious Indian Institutes of Technology (IITs), primarily due to disparities in pay structures. Dr. S Somanath, ISRO’s Chairman, lamented the reluctance of top engineering graduates to join the space agency in a recent interview, highlighting that the allure of higher salaries often steers them elsewhere. This article dissects the friction between passion and pay that has left ISRO grappling with recruitment woes. The Quest for IIT Talent Dr. Somanath expressed his concern over the underrepresentation of top IIT graduates within ISRO. The crux of…
https://youtube.com/shorts/p_tgHMte4GU?feature=share The annual listing of India’s 100 richest Indians is now live, with a noticeable shift in positions from last lists. Mukesh Ambani has regained his top spot from Gautam Adani. Eight people have dropped off the list including Vedanta’s Anil Agarwal, BYJU’s Byju Raveendran and Info Edge’s Sanjeev Bikhchandani. Here is the top 10 richest Indians of this year 1. Mukesh Ambani Reliance industries Chairman and Managing Director Mukesh Ambani has reclaimed his top position this time, with a net worth of $92 billion. Earlier this year, he transformed Reliance Industries into a diversified conglomerate and appointed his three children as board members.…
Despite Israel’s constant air attacks on Gaza, Hamas has still been able to fire rockets at Israeli cities five days into the fighting. While checking the possibilities, Israel’s intelligence community believes much of the money and material the world gave to the people of Gaza to rebuild after previous wars has been taken by Hamas and reused in establishing the elaborate system of tunnels and bunkers. The Gaza Strip smuggling tunnels are tunnels across the Gaza–Egypt border, used to bypass the Rafah Border Crossing, which is used for exceptional cases only, when opened at all. The first recorded discovery of a tunnel by…
In the midst of an ongoing conflict between Israel and the Palestinian militant group Hamas, the nation once again turns to its formidable defence system, the Iron Dome, to safeguard its citizens against rocket attacks. This article explores the critical role played by the Iron Dome, its operational details, the strong support it receives from the United States, and the potential challenges it faces in the face of evolving threats. The Iron Dome’s Crucial Role The Iron Dome, known as “Kippat Barzel” in Hebrew, has become one of the cornerstones of Israel’s defence strategy. Its significance lies in its remarkable…
Nikhil Kamath, co-founder of Zerodha, is officially the youngest billionaire at 37, as per the recently released Forbes ‘India’s 100 Richest People.’ Ranked 40 among the richest persons in India, the combined net worth of brothers Nithin and Nikhil Kamath currently stands at $5.5 billion, as listed by Forbes. Nikhil Kamath was born on September 5, 1986 and became the youngest billionaire of India at the age of 37. The company, Zerodha was founded in 2010 by Nikhil Kamath and Nithin Kamath. It works on an online discount brokerage model wherein only online trading services are offered to customers. The platform also aims…
https://youtube.com/shorts/liUoIhqZMZE?feature=share In the light of the Israel-Hamas war, India has announced its rescue operations named ‘Operation Ajay’ to bring back all the stranded Indian citizens in the war zone. Yesterday, it was also reported that India is set to begin the mission of chartered flights to bring back people. Relieving the initial stress, India’s first flight carrying India’s 212 citizens landed in Delhi airport today. They were received by Union Minister Rajeev Chandrasekhar upon their arrival. On Thursday night, External Affairs Minister S Jaishankar shared pictures of the first repatriation of the stranded citizens on X, formerly known as Twitter…
The fixed income platform Jiraaf, owned by AI Growth Pvt Ltd, has raised $8.7 million in equity as part of Series B funding round. The round was co-led by Accel and Harmony Partners. It also saw participation from Capital A and other angel investors. The fund infusion will support the company bringing high quality fixed income instruments in a transparent and convenient manner. “We are thrilled and humbled by the trust from our customers, investors and partners. Over the last 2 years, our endeavour has been to enable investors to deepen their fixed income portfolio by curating high quality opportunities…
The US Space Force has temporarily halted the use of web-based generative artificial intelligence (AI) tools, such as ChatGPT, due to data security concerns. According to a Memo sent in September, addressing Guardians (the Space Force workforce), states that personnel are prohibited from using these AI tools on government computers until formal approval is granted by the Chief Technology and Innovation Office. The reports also suggest that the temporary ban is due to data aggregation risks. Space Force’s Chief Technology and Innovation Officer Lisa Costa reportedly wrote in the memo, “Generative AI will undoubtedly revolutionize our workforce and enhance Guardian’s ability…
OORJAA, a logistics solutions company, has successfully raised INR 5.35 crore in its pre-Series A funding round 2 from Inflection Point Ventures (IPV), Vinners Platform, Soonicorn Ventures and HEM Angels. The funds will be dedicated to scale the PiE KART platform, advance technology and expand the team. While highlighting the company’s impressive 5.0 times growth since Round 1, led by IPV, Sandeep Patil, CEO and Co-founder of OORJAA said,”With this Round 2 funding and the recent launch of PiE KART, we are entering the next phase of our expansion. Our commitment is to revolutionize last-mile and mid-mile logistics through advanced…