Author: News Desk
Krutrim SI Designs, the brainchild of Ola co-founder Bhavish Aggarwal, has recently introduced a groundbreaking family of multilingual artificial intelligence (AI) models designed specifically for the Indian ecosystem. Named ‘Krutrim,’ which translates to ‘artificial’ in Sanskrit, these models aim to address the distinctive requirements of the Indian market. Krutrim Models for India: Krutrim is presented in two sizes, each catering to different needs. The base model, Krutrim, has been trained on an extensive 2 trillion tokens and unique datasets. Additionally, a more advanced model, Krutrim Pro, is set to launch next quarter, offering enhanced problem-solving and task execution capabilities. Bhavish…
On December 17, Prime Minister Shri Narendra Modi is set to inaugurate the newly constructed Surat Diamond Bourse in Gujarat, with an estimated cost of INR 3,400 crores. Positioned as the “world’s largest corporate office hub,” this diamond bourse, located in Surat’s Khajod locality, aims to become a global epicenter for both rough and polished diamond trading. Featuring over 4,500 interconnected offices, the Diamond Bourse stands as the world’s largest interconnected building, boasting a substantial 67 lakh square feet. The facility also houses India’s largest customs clearance house. The primary objective behind this establishment is to streamline the import, export,…
The Department of Telecommunications (DoT) has issued an order that effectively brings the operations of the Doosra app to a halt. Doosra is known for providing users with secondary mobile numbers, which they can use for transactions at shops or online platforms where sharing a number is mandatory. This innovative service helps users avoid potential spam messages or calls associated with providing their primary numbers. Notably, Doosra follows a standard telecom practice by requiring users to furnish identification when purchasing a secondary number. Aditya Vuchi, the founder of the ‘virtual mobile number’ app, has emphasized its utility for customers who…
Lalit Khaitan, a leading figure in India’s alcohol industry, is now ranked among the top billionaires in India by Forbes. With a net worth of $380 million, Dr. Lalit Khaitan is the chairman of Radico Khaitan, an 80-year-old company. Lalit Khaitan’s rapid growth in the liquor business has propelled him to the top of Forbes’ latest billionaire list in India. He has achieved this by steering Radico Khaitan through the swift expansion of the Indian alcohol industry. Magic Moments Vodka, 8 PM Whisky, Old Admiral Brandy, and Rampur Single Malt, produced in the foothills of the Himalayas, are some of…
In the wake of the successful Chandrayaan-3 mission, Indian Space Research Organisation (ISRO) Chief S Somanath has declared that India’s lunar endeavors are far from over. Speaking at the Rashtrapati Bhavan Cultural Centre, he expressed ISRO’s ambitious plan to retrieve moon rocks from the lunar surface. Moon Rocks Mission: A Formidable Challenge Acknowledging the complexity of the mission, Somanath emphasized the technological challenges involved in safely landing on the moon, recovering samples, and returning to Earth. He highlighted the intricacies of autonomous operations, stating that the sample return mission demands advanced technology beyond the current capabilities. Four-Year Target: Human Presence…
The Bhabha Atomic Research Centre (BARC) has devised a method to preserve onions for an extended period with the use of radiation technology. Using the irradiation process, BARC aims to increase the shelf life of onion, allowing them to remain fresh for up to eight months. This technology holds promise for farmers, as it enables them to store produce without the risk of spoilage. The KRUSHAK Irradiation Centre in Lasalgaon, Nashik, can stockpile 250 tons of onions using radiation technology. Fruits like mangoes and tomatoes are also treated at the irradiation center in Lasalgaon, ensuring they stay fresh for an extended period.…
Adani Ports and Special Economic Zone (APSEZ) is charting a strategic move with plans to issue up to 10 billion rupees (approximately $120 million) in bonds through private placement. This initiative marks a significant development as it represents the company’s first foray into the local currency market in the past two years. Sizing up the Offering Insiders familiar with the matter have disclosed that the proposed bond issuance has a base size of 5 billion rupees, with an additional 5 billion rupees earmarked for oversubscription. This move aligns with APSEZ’s financial strategy, aiming to capitalize on market demand and potential…
India’s e-B2B platform Udaan said on Thursday that it has raised $340 million in Series E funding round, led by M&G Pls. Existing equity investors like Lightspeed Venture Partners and DST Global participated in the round. The fund raise is subject to regulatory approvals. The funding reportedly includes a combination of fresh equity investment as well as the conversion of existing debt (convertible notes) into equity. The startup claims that it will strengthen its balance sheet. With this exercise, Udaan’s business is fully funded, it said in a press release. “Series E round strengthens our balance sheet and fully funds…
S&P Global Ratings has downgraded Vedanta Ltd parent Vedanta Resources’ long-term issuer credit rating and long-term issue ratings on specific bonds due in January 2024, August 2024, and March 2025 from ‘CCC’ to ‘CC’. The downgrade stems from the ongoing liability management exercise initiated by the Anil Agarwal-led company to extend the maturities of its three US dollar-denominated bonds. S&P considers the successful completion of this exercise as a distressed exchange, potentially leading to a further downgrade of Vedanta Resources to ‘SD’ (selective default) and lowering the ratings on the three bonds to ‘D’. The credit watch status indicates the…
NEOM’s Board of Directors introduces Utamo, a groundbreaking destination for art and entertainment that promises to redefine traditional experiences. Nestled in the northwest of Saudi Arabia along the Gulf of Aqaba coastline, Utamo emerges as the latest jewel in NEOM’s sustainable regional development initiative. Utamo’s Unique Setting: Situated within a mountain, Utamo offers an immersive backdrop for global artists, designed to host music events, exhibitions, and art activations. The venue seamlessly blends natural beauty with cutting-edge technology, creating a space where art and architecture coalesce for a distinctive and unparalleled experience. Entrance and Grand Hall Visitors will embark on a…