Author: News Desk
Vijay Shekhar Sharma, the founder and CEO of Paytm, a prominent digital payments and financial services platform in India, has recently unveiled the ‘VSS Investments Fund,’ with an initial investment of ₹30 crore. This fund aims to support Indian startups working in the fields of artificial intelligence (AI) and electric vehicles (EV). In this article, we delve into the specifics of this exciting development and its potential impact on the Indian tech ecosystem. Fund Structure and Objectives This Sebi-approved fund operates as a Category II Alternate Investment Fund (AIF), commencing with an initial corpus of ₹20 crore, with a provision…
n the last 8 years of Startup India, India has commenced an ambitious and spectacular journey of becoming an innovation-driven digital economy, with remarkable success. Until now, despite the massive rise in the number of startups, most of them have remained confined to a few metro cities such as Bengaluru, Chennai, Hyderabad, Delhi and Mumbai. The fact that the startups are concentrated in these areas reflects a lack of support system for entrepreneurs beyond the metros. Today, many Indian cities and towns including Thiruvananthapuram, Jaipur, Kanpur, Ahmedabad, Bhubaneswar, Visakhapatnam, Chandigarh, Kolkata and others are rising through the ranks to become prominent startup hubs. Around 38,500 recognised startups in India…
The Karnataka government is preparing to build a huge tower that is expected to transform the identity of Bengaluru city. This project called ‘Bengaluru Skydeck Project’ was announced through social media platform X by Deputy Chief Minister DK Shivakumar who is also Bengaluru Development Minister. COOP HIMMELB(L)AU, an Austrian company, has completed the design work of the Skydeck. The design was done in collaboration with the World Design Organization, Bengaluru. Tall architectures known as skydecks or observation decks are attracting tourism attention across the country. This skydeck is also said to become a big business and tourism center. This observatory…
Crypto firms Digital Currency Group and Gemini defrauded more than 230,000 investors out of a collective $1.1 billion, New York state prosecutors said in a lawsuit filed in Manhattan Thursday. They reportedly cited a series of missteps, including failure to adequately manage the risk associated with exposure to Sam Bankman-Fried’s bankrupt and allegedly fraudulent crypto trading firm. Genesis, a crypto lender, and its parent company Digital Currency Group were also involved in the programme. It was halted last November, cutting off customer access to funds. Genesis, which had loaned heavily to his companies, filed for bankruptcy a few months later. Attorney General James said her case…
Elon Musk (Elon Musk), Jeff Bezos (Jeff Bezos), Mukesh Ambani are all the names that come to mind when you think of the world’s biggest billionaires. But there is one who is a millionaire even more than these. Ambani, Musk and Bezos’s net worth combined would not come close to this person’s net worth. Who is it, Wu Zetian, who was the queen and the only woman who ruled China. Wu of the Tang Dynasty ruled China from 665 to 705 AD. Historians have differences of opinion on Wu’s net worth. Some say that Wu was the world’s greatest billionaire…
In a significant development, renowned cinema chains PVR and INOX jointly unveiled a new initiative known as the “PVR INOX Passport” on Saturday, October 14, 2023. This innovative movie subscription pass has been introduced with the dual purpose of supporting the film industry and encouraging frequent visits to the theatres. We bring you all the latest details about this brand-new offering for cinema lovers. The PVR INOX Passport: What You Need to Know As per the latest official information, the PVR INOX Passport subscription became available starting Monday, October 16. For a monthly fee of just Rs 699, subscribers can enjoy the privilege of watching up to…
Japanese conglomerate Softbank on Friday divested a 1.09% stake in online food delivery platform Zomato for INR 1,040 crore through an open market transaction. Softbank through its affiliate SVF Growth (Singapore) Pte Ltd offloaded shares of Zomato on the National Stock Exchange (NSE). Bandhan Mutual Fund (MF), Motilal Oswal MF, Axis MF, Max Life Insurance Company, Abu Dhabi Investment Authority, Fidelity Investments, Goldman Sachs (Singapore), Societe Generale, and Morgan Stanley Asia Singapore, among others were the buyers of shares of Zomato, according to a PTI report. As per the block deal data available with the NSE, SVF Growth (Singapore) sold 9,35,69,368 shares, amounting to…
Reserve Bank of India (RBI) Governor Shaktikanta Das, on Friday, reaffirmed the central bank’s unwavering position on the prohibition of crypto assets. Despite a global trend toward regulating cryptocurrencies, Das made it clear that the RBI’s stance on the matter remained unchanged. Speaking to reporters at the Kautilya Economic Conclave 2023, he emphasised the risks associated with cryptocurrencies and the need for regulation. A Graded Approach to Regulation Das explained that regulation exists on a scale from zero to ten, where zero means no regulation at all, and ten signifies a complete ban. He reiterated the RBI’s position, suggesting that crypto regulation falls somewhere…
The Indian Space Research Organisation (ISRO) encountered an unexpected setback as it postponed the first test flight of its human spaceflight mission, ‘Gaganyaan,’ just 5 seconds before its scheduled launch time of 8:45 am IST. This delay raises questions about the technical intricacies and ambitions of India’s mission to put astronauts into space. Gaganyaan’s Crucial Test Flight The test flight was intended to carry a variety of crew safety-related payloads and to accomplish vital mission objectives. It marked the initial step in a series of tests scheduled by ISRO in preparation for its ambitious goal of sending Indian astronauts into…
Prominent tech company HP has introduced refurbished laptops in India to enable easy access to affordable computing, launching a refurbished laptop program through an HP certified partner for retail customers and businesses. Operated in a subscription model, the initiative reportedly aims to enhance PC accessibility, particularly in rural areas. According to an official release, the company said the programme, which has been launched for the Indian market, will be expanded to other markets in 2024. “Recognizing the limited PC adoption in rural and smaller towns, we aim to transform this landscape. Our new initiative is a significant step in our…