Author: News Desk
After a seven-year hiatus, global pop sensation Shakira is set to make her highly anticipated comeback with her latest album, “Las Mujeres Ya No Lloran” (Women Don’t Cry Anymore), scheduled for release on March 22. Alchemical Creation Process In a statement, Shakira described the making of the album as an “alchemical process,” highlighting the transformative journey she underwent while crafting each song. “While writing each song I was rebuilding myself. While singing them, my tears transformed into diamonds, and my vulnerability into strength,” she expressed, as reported by Variety. Comprising 16 tracks, including eight new songs and a remix, “Las…
The International Financial Services Centre Authority (IFSCA), the regulatory body in Gift City, Gujarat, has introduced new regulations for fintech firms seeking to offer payment services within the tax-free zone. Under these regulations, Payment Service Providers (PSPs), also known as Merchant Service Providers, are now required to obtain a separate license from IFSCA in addition to their existing authorization from the Reserve Bank of India (RBI). PSPs play a crucial role in facilitating online payments for businesses, offering various methods such as online banking, credit cards, debit cards, e-wallets, and cash cards. Published on February 1, the 18-page gazette outlines…
Artificial Intelligence (AI) stands as a transformative force driving innovation across various sectors. However, despite the significant strides made, there are lingering inhibitors hindering widespread AI adoption, particularly in large organisations. A recent study commissioned by IBM sheds light on the prevailing challenges and the imperative for action in 2024 to overcome them. The ‘IBM Global AI Adoption Index 2023’ reveals a promising trend in India, with nearly 59 percent of large enterprises actively leveraging AI within their operations. These early adopters are spearheading AI integration, with 74 percent having intensified their investments in AI over the past two years,…
PedalStart, a startup accelerator, unveils the commencement of its Series-2 fund, securing a substantial $250,000 to bolster early-stage startups. Following the resounding success of its inaugural internal company fund launch of $250K, deployed to 5-7 founders, PedalStart starts its next phase of catalyzing innovation and entrepreneurship within the startup community. According to an official statement, the primary objective of this fund is to allocate capital to 5-7 promising early-stage startups who have demonstrated notable progress and execution over preceding three to six months. These startups, will be selected after a rigorous selection process that Pedalstart is doing while taking the…
Minister of State for Agriculture, Shobha Karandlaje, announced on Thursday that the Centre has disbursed ₹235.14 crores to Karnataka as the third installment under the Rashtriya Krishi Vikas Yojana (RKVY) for the financial year 2023-24. Additionally, the Centre has sanctioned the procurement of Bengal Gram (chana) in the State at a Minimum Support Price (MSP) of ₹5,440 per quintal, with a maximum quantity of 1,39,740 tonnes for the 2023-24 rabi season under the price support scheme, as stated in an agriculture ministry statement. The allocated funds will be utilized by the State to implement various components of the RKVY scheme,…
RBI is considering regulatory action against multiple fintech firms, not just Paytm Payments Bank, due to KYC compliance issues. A Moneycontrol report suggests that a prominent payments aggregator and a wallet service provider are among those under scrutiny. Fintech firms operating in the unsecured loan segment, acting as intermediaries between customers and lenders, are particularly under pressure. Following compliance lapses in its KYC process, Paytm Payments Bank was barred from acquiring new customers by the RBI on January 31. Senior Paytm executives have reportedly been questioned by the Enforcement Directorate and have submitted documents in response to the RBI’s actions.…
The payment solutions provider PayU announced a collaboration with the National Payments Corporation of India (NPCI) to introduce the ‘Credit Lines on UPI’ feature on its platform. This initiative aims to provide merchants with avenues for financial security and growth. According to a media release, PayU stated that the integration of pre-sanctioned Credit Lines through UPI by banks will empower both businesses and consumers, aligning with India’s financial inclusion agenda. As part of the integration process, PayU will share information about various identifiers related to the type of credit undertaken by consumers, such as pay-later options or personal loans. This…
Tesla, the renowned electric vehicle manufacturer, is now setting its sights on India’s burgeoning solar energy market. In a strategic move, the company is actively seeking local partners to manufacture its rooftop solar panels within the country. This initiative aligns with Tesla’s broader goal of expanding its presence beyond electric vehicles into renewable energy solutions. Partnering for Progress Under the proposed arrangement, Tesla would collaborate with selected partners who would be tasked with both manufacturing and installation. Tesla aims to leverage its advanced technology and sales expertise while empowering local partners to handle production and implementation. This partnership model underscores…
The Reserve Bank of India (RBI) has implemented stringent measures against Paytm Payments Bank, citing concerns over its compliance with financial sector regulations. Compliance with these regulations is critical for the stability and security of the entire financial ecosystem, impacting both financial startups and established fintech companies alike. Regulator Scrutiny Several prominent startups in the financial sector, including Innov8, CapitalMind, and Bharat Matrimony, have criticized the RBI’s actions against Paytm Payments Bank. These criticisms highlight potential adverse effects on India’s fintech ecosystem and its growth prospects. Migration Concerns The RBI’s directive against Paytm Payments Bank has raised concerns among other…
Channeliam, a prominent AI-powered media platform focusing on startups and entrepreneurs, has announced an exclusive opportunity for women entrepreneurs based in South India. In celebration of International Women’s Day, Channeliam is set to feature the achievements and innovations of Top 25 trailblazing women entrepreneurs in its upcoming special segment. The feature will highlight two distinct categories: Best in Field: This category aims to recognize women entrepreneurs who excel in various industries, such as technology, sustainability, and market disruption. The entrepreneurs in this category will be showcased for their outstanding contributions and success. Innovators Spotlight: Channeliam seeks to spotlight women entrepreneurs…