Author: News Desk

Wipro, the third-largest software services exporter in India, has initiated legal proceedings against its former Chief Financial Officer (CFO), Jatin Dalal, in a Bengaluru civil court. While the exact grounds for the lawsuit remain undisclosed, reports suggest that Dalal has urged the court to transfer the case to arbitration. Dalal, who had served as Wipro’s CFO since 2015, resigned from the company on November 30. Following his departure, Cognizant Technology appointed Dalal as their CFO in September, succeeding Jan Siegmund, who plans to retire in early 2024. In his new role at Cognizant, Dalal will oversee various global financial functions.…

Chinese tech giant Xiaomi has officially unveiled its entry into the electric vehicle (EV) market with the debut of the SU7 at the Stride launch event in Beijing. Xiaomi’s founder and CEO, Lei Jun, expressed the company’s ambitious goal of becoming one of the world’s top five automakers within the next 15 to 20 years. The SU7, set to be contract-manufactured by Beijing Automotive Industry Holding Co. Ltd (BAIC) in China, is positioned as a midsize premium electric sedan under Xiaomi’s Mi brand. The vehicle will be available in three variants: SU7, SU7 Pro, and SU7 Max, offered in three…

In a recent announcement, the Reserve Bank of India (RBI) Governor, Shaktikanta Das, urged banks to actively engage in technology-driven deposits to ensure a smoother transition into the future. He highlighted the importance of banks adopting technology in various sectors such as information technology and IT security. Governor Das emphasized the need for banks to take the initiative in navigating through challenges by embracing technology, considering the difficulties faced by several banks during the recent disruptions, especially in the aftermath of the tenth SBI Conclave held in Mumbai. While conducting an investigation, the RBI found that many banks struggled with…

Discover Grasshopper’s Vegan Shawarma—a revolutionary plant-based delight disrupting Kerala’s taste buds. Led by visionary Kannan Parakkunnel, this unique creation aligns with diverse diets and champions sustainability. Claimed to be the world’s first ready-to-eat plant-based shawarma is free from oils, gluten, and preservatives. Launched just six months ago, Grasshopper Global’s Ready-to-Eat Shawarma has gained popularity in Singapore and is poised to make its mark in India. A delicious departure from tradition, urging mindful dining choices. Experience the future of fast food with Grasshopper—where taste meets sustainability. Grasshopper’s Vegan Shawarma stands as a testament to his commitment to offering nutritious, sustainable, and delicious alternatives…

India’s Financial Intelligence Unit (FIU), operating under the Ministry of Finance, has taken significant measures against offshore cryptocurrency platforms, serving show-cause notices to nine major players, including Binance and KuCoin, accordingn to a PTI report. This action has been initiated under the stringent Prevention of Money Laundering Act (PMLA) due to non-compliance with anti-money laundering legislation. The FIU, exercising its authority, has also communicated with the Ministry of Electronics and Information Technology, urging the blocking of the URLs associated with these entities as their operations within India are deemed illegal under PMLA provisions. The nine cryptocurrency exchanges issued with show-cause notices…

Francoise Bettencourt Meyers has achieved the historic milestone of becoming the first woman to amass a $100 billion fortune. The heiress, deeply connected to France’s burgeoning fashion and cosmetics industries, saw her wealth soar to $100.1 billion, according to the Bloomberg Billionaires Index. This accomplishment coincided with a record-high surge in shares of L’Oréal SA, the beauty products empire founded by her grandfather, positioning the stock for its best year since 1998. Currently the 12th-richest person globally, she closely follows Mexico’s Carlos Slim. While her fortune is a significant achievement, it remains overshadowed by French compatriot Bernard Arnault, the founder…

The Women and Child Department in Maharashtra has unveiled a plan to introduce pink e-rickshaws driven by women in 10 cities, including Mumbai, Thane, Navi Mumbai, Pune, and Nagpur. The initiative, known as ‘Pink Rickshaws,’ aims to empower unemployed women by providing a 20% government subsidy to purchase e-rickshaws. Applicants will contribute 10% of the cost, with the remaining 70% covered by bank loans. During the presentation to Deputy Chief Minister and Finance Minister Ajit Pawar, Women and Child Development Minister Aditi Tatkare emphasized that the scheme not only offers a livelihood opportunity for women in urban areas but also…

India’s primary stock market indices, Nifty and Sensex, have demonstrated remarkable growth in the current year, reaching unprecedented highs. Nifty has recorded an impressive growth rate of 18.5 percent, while the benchmark Sensex has surged by 17.3 percent in the year 2023. According to a report by Ernst and Young, the Indian stock market has witnessed a robust influx of new listings, with over 150 companies making their debut in the first nine months of the year. In comparison, Hong Kong, another significant financial hub, saw only 42 new listings during the same period. Further accentuating this bullish trend, the…

Akash Ambani, chairman of Reliance Jio Infocomm, announced the collaboration with the Indian Institute of Technology-Bombay to introduce the ‘Bharat GPT’ program. As the largest telecommunications company in the country and a unit of Reliance Industries, Reliance Jio is also actively considering the launch of an operating system for televisions. Ambani mentioned ongoing efforts in this regard during his address at the annual Techfest of the institute. Ambani emphasized the importance of building an “ecosystem of development” for the company and shared insights into the vision of “Jio 2.0,” which is already in progress. He highlighted the partnership with IIT…

The New York Times initiated legal action against OpenAI and Microsoft in a US court, alleging unauthorized use of millions of articles for training their potent AI models, including ChatGPT. The lawsuit contends that the companies, through their AI chatbots, are capitalizing on The Times’ substantial investment in journalism without permission or compensation, aiming to develop substitute products. In contrast to media groups like Germany’s Axel Springer or the Associated Press, which have engaged in content deals with OpenAI, The New York Times has adopted a more confrontational approach to the evolving landscape of AI chatbots. As one of the United States’ most respected news organizations, The Times is seeking damages and an injunction to…