Author: News Desk
Social media platforms will have seven days to bring their terms of service and other policies into compliance with Indian laws and regulations, according to a statement from the Ministry of Electronics and Information Technology (MeitY). This will allow the platforms to properly address the problem of deepfakes on them. This decision was communicated during a discussion on the subject of deepfakes between social media sites and Rajeev Chandrasekhar, the Minister of State for Electronics and Information Technology. According to Rule 3(1)(b) of the present IT Rules, which requires the removal of 12 types of content within 36 hours of…
Taj Hotels group, owned by Tata, reportedly experienced a data breach that resulted in the exposure of over 1.5 million client records. A malicious actor going under the pseudonym “Dnacookies” has reportedly requested $5,000 (about INR 4.16 lakh) as ransom for the entire dataset, according to an ET report. As per close sources, it contains addresses, membership IDs, mobile numbers, and other personally identifiable information. Prior to requesting a ransom, the threat actor maintained three criteria and asserted that the customer data had not yet been revealed to anyone. The threat actor’s first demand was for there to be an…
In light of the Reserve Bank of India’s (RBI) more stringent attitude on unsecured loans, Finance Minister Nirmala Sitharaman issued a warning on Thursday, advising small finance banks and non-bank financing firms (NBFCs) to respect the red line and to temper their exuberance. Speaking at the ‘DATE with Tech’ event in New Delhi, Ms. Sitharaman issued a warning, asking NBFCs and small financing institutions to tread carefully and not overdo their enthusiasm. “Enthusiasm is good but sometimes it becomes a bit too far for people to digest. So as a measure of caution the RBI has also alerted small finance…
On Wednesday, the Chennai-based Murugappa Group declared that it would enter the semiconductor assembly and testing industry, committing $791 million over the course of five years. The company CG Power and Industrial Solutions, founded by Crompton Greaves and taken over by the Murugappas in November 2020, would mark the group’s entry into the semiconductor industry. Following the group’s statement, the value of CG Power’s shares increased by over 20%, reaching INR 469. Seeking subsidies for a “outsourced semiconductor assembly and testing” (OSAT) plant in India, the INR 7,000-crore business has submitted a proposal to the Union Ministry of Electronics and…
Banks, NBFCs, and fintech companies are being urged by the Reserve Bank of India (RBI) to periodically recalculate their pre-set algorithms using artificial intelligence (AI) and machine learning techniques. In response to the changing dynamics of the financial ecosystem and the release of fresh data about industries, customer groups, and worldwide challenges, this ought to be done. Speaking at a gathering put on by the Indian Banks Association and the trade association FICCI, RBI Governor Shaktikanta Das urged banks and NBFCs to keep stress-testing their accounts. “Stress tests on their books are a prerequisite for banks and NBFCs. There’s nothing…
The Xtra G Club stands for ‘Leading and consolidating the effort of individuals and groups working towards healthy development and constructive education for the young generations to come.’ On January 4th, 2022, Xtra G club Pvt. Ltd. established. Xtra G Club is committed to compassion and care for the children of today’s generation. Anian Koshy is the Founder and CEO of Xtra G Club Private Limited. Shani Shajahan is the Co-Founder and Director. “We are committed to using cutting-edge technology to bring about a positive transformation of society towards a child-friendly world. Our main paradigm in our work is learning-…
Tesla’s Budget Offering: The €25,000 Two-Door EV Tesla, the electric vehicle (EV) pioneer, is gearing up to introduce its most affordable model yet, priced at €25,000 (approximately Rs 20 lakh). This eagerly anticipated two-door car is set to make its debut in Germany before venturing into the Indian market. Insights from sources reveal that the electric vehicle, either a two-door SUV or a sedan, is currently under development, positioning itself as the second Tesla model considered for the Indian market, following the Model Y. Tesla’s Strategic Investment: Gigafactory in Germany and the Indian Connection Tesla’s forward-thinking strategy includes a €5…
Rephrase.ai, an AI-powered video creation company based in Bengaluru, is reportedly announced the acquisition of US tech giant Adobe. This is not only Adobe’s first acquisition of a generative AI business, but also its first in the Indian startup scene. The information was shared by Rephrase.ai’s co-founder Shivam Mangla on his official X handle. “Exciting news! Rephrase.ai is getting acquired by a pioneering creative tech company, ushering us into the new era of Generative AI. As we begin this new chapter in a larger org, the possibilities are endless. Excited to see what our teams will create next in the world of GenAI.…
Delhi’s Lieutenant Governor VK Saxena has given approval for the introduction of a premium app-based bus service in the national capital, marking a significant milestone in the efforts to enhance public transport. This initiative, conceptualised by the Arvind Kejriwal government, holds the potential to reshape commuting habits, reducing reliance on private vehicles. The Delhi Motor Vehicles Licensing of Aggregator (Premium Buses) Scheme, 2023 The scheme envisions a premium intra-city bus service, distinguishable by app-based bookings, no standing passengers, and higher fares compared to other buses, including those operated by the state government’s Delhi Transport Corporation (DTC). Key safety features such…
The Resurgence of Sam Altman: A Swift Turnaround Amidst Board Upheaval OpenAI co-founder Sam Altman is set to make a triumphant return as the company’s leader, just days after being ousted by the board in a move that stunned industry observers. This section unravels the rapid developments leading to Altman’s reinstatement, exploring the “in principle” agreement that includes the appointment of new board members. Altman’s own sentiments, expressed on social media, shed light on his dedication to OpenAI’s mission and the challenges faced in keeping the team united during this tumultuous period. Board Dynamics and Microsoft’s Strategic Influence: Navigating OpenAI’s…