Author: News Desk
Byju’s, an edtech company, along with several former employees, was called upon by the Karnataka government to engage in a conciliation meeting on Friday. This action comes in response to complaints filed by ex-staff members regarding outstanding payments. The Karnataka labor department received numerous emails from former employees citing delays in receiving their full and final settlements post-termination. Subsequently, a notice was issued mandating both the company and the concerned employees to attend a meeting to address these grievances. Non-compliance could lead to legal repercussions, as specified in the notice issued in Kannada. A senior official from the labor department…
OpenAI, the innovative minds behind ChatGPT, have unleashed their latest creation onto the digital landscape: Sora. This cutting-edge AI model is causing ripples of excitement across the internet for its mind-blowing ability to transform simple text prompts into fully realised one-minute videos. Dubbed Sora, this revolutionary AI has been developed with the aim of comprehending and simulating the dynamics of the physical world in motion. The OpenAI Sora blog elucidates, “We’re teaching AI to understand and simulate the physical world in motion, with the goal of training models that help people solve problems that require real-world interaction.” The unveiling of…
Hero MotoCorp, one of India’s leading motorcycle manufacturers, has officially introduced its latest offering, the Maverick 440, to the Indian market. Following its unveiling last month, the motorcycle is now available for purchase, with prices starting at Rs 1.99 lakh for the base model and reaching up to Rs 2.24 lakh for the top-tier variant, excluding showroom costs. Variants and Booking Options The Maverick 440 is offered in three distinct variants: Base, Mild, and Top. Prospective buyers can secure their purchase by pre-booking the motorcycle through authorized dealerships or online via Hero’s official website. Deliveries are slated to commence from…
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…