Author: News Desk

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…

OneWeb India has achieved a milestone by securing necessary authorizations from IN-SPACe (Indian National Space Promotion and Authorization Center) for the launch of Eutelsat OneWeb’s commercial satellite broadband services in India. Being the first organisation to obtain this authorization, OneWeb India’s move is a significant step in expanding satellite connectivity services in the country. IN-SPACe: Regulating India’s Space Activities IN-SPACe, the governmental agency overseeing space activities in India, plays a pivotal role in regulating and authorising space endeavours within the country. With this approval, Eutelsat OneWeb, a low Earth orbit (LEO) operator under the Eutelsat Group, can initiate commercial connectivity…

Titan, a watch and jewellery manufacturer, stated on Tuesday that it intends to recruit around 3,000 people over the next five years in order to achieve its goal of being an INR 1 lakh crore enterprise. Titan said that it will be hiring at mid-to senior-level positions with a focus, looking for people with experience in a variety of fields, including digital, e-commerce, sales, design, and engineering. With a particular focus on innovation and technology, Titan intends to expand the proportion of staff members in engineering roles by 50% over the course of the next two to three years. “Our…