Author: News Desk

https://youtu.be/4-8xqzGECBQ The food processing ministry has approved 60 applications of investment proposals by packaged food companies, including Amul, ITC, HUL, Britannia Industries, Parle Agro, Tata Consumer Products and Nestle India seeking benefits under the production-linked incentive (PLI) scheme.Boost for industryIn March this year, the Union Cabinet approved a PLI scheme for the food processing sector, entailing an outlay of Rs 10,900 crore. The scheme will help create 2.5 lakh jobs, boost exports and ensure availability of a wider range of value-added products for consumers.The ministry had invited expressions of interest (EOI)/ proposals for availing incentives under the PLI scheme for food…

https://youtu.be/oZxhyNQLrfQ Byju’s, the world’s most valuable tech company, has acquired Austria-headquartered GeoGebra. The Austrian company has a dynamic, interactive and collaborative mathematics learning tool.Major acquisitionThe value of the transaction is about $100 million, according to reports. This marks Byju’s 9th major buy this year. This acquisition complements Byju’s overall product strategy. It integrates GeoGebra’s capabilities to enable the creation of new product offerings and learning formats to its existing portfolio. GeoGebra will continue to operate as an independent unit within the Byju’s group under  its Founder Markus Hohenwarter. 

https://youtu.be/Qs2EIc4FUwM Proposed legislation that would ban the use of cryptocurrencies as a method of payment in India may be severe. Arrest warrantThose who infringe the law are subject to arrest without a warrant and being held without bail, a media report said.The government has previously flagged that it plans to ban most cryptocurrencies“The government is planning a “general prohibition on all activities by any individual on mining, generating, selling, dealing” in digital currencies as a “medium of exchange, store of value and a unit of account”, the report said. Strict regulationsFlouting any of these rules would also be “cognizable” which means an arrest…

https://youtu.be/gJXT9pTwy0Q Kerala Startup Mission is organising Women Startup Summit 3.0 to inspire and motivate women in entrepreneurship. The Women Startup Summit 3.0 started on December 9th and will end on December 16 Rise To Equal – Post Pandemic ERA is the theme of this year’s summit. The summit will be held in three categories: Innovation Challenge, Investor Cafe and Hackathon. Grant offered The winners of the Innovation Challenge will get a grant of Rs 5 lakh. In addition to the grant, successful entrepreneurs are eligible for soft loans and seed funds of up to `15 lakh (6% interest). Investor Cafe…

https://youtu.be/9GPir0rvUjw Sterlite Power Transmission and ESDS Software Solution have received Sebi’s go-ahead to float IPO’s. The two companies had filed their preliminary IPO with the Sebi during August and September.Sebi NodSterlite Power Transmission and ESDS Software Solution have obtained an observation letter from Sebi. Sterlite Power Transmission is looking to raise Rs 1,250 crore through an initial share-sale. It  is promoted by Anil Agarwal and Twin Star Overseas. 

https://youtu.be/rtJ_cKYfMwk Used car retailing platform Spinny has raised $283 million in its Series E funding round.The round was led by Abu Dhabi-based ADQ, Tiger Global and Avenir Growth.The round included a primary capital infusion of $250 million and a secondary sale of $33 million. Spinny’s valuation now stands at around $1.8 million. The company sold around 3,500 used cars on its platform in November.42nd unicornThe deal makes Spinny India’s 42nd unicorn, continuing a record breaking year for startup funding.“We set afoot to build Spinny with a customer first approach – solving for lack of trust in car buying and selling experience,…

https://youtu.be/NJ5rny6qwkY Dr Anil Menon is among the 10 new astronaut candidates introduced by NASA. Rigorous trainingHe has to go through two years of rigorous training before being inducted into missions.It includes research onboard the International Space Station, landing on the lunar surface and then to Mars. Anil Menon is part of the 2021 astronaut class, the first in four years, which has six men and four women. Forefront in missionsBorn to Ukrainian and Indian immigrants, Anil Menon is a Lieutenant Colonel in the US AirForce. SpaceX’s first flight surgeon, he helped launch the first humans to space during NASA’s SpaceX Demo-2 mission.Menon was…

https://youtu.be/odtq4L8rGzE India is eyeing a comprehensive framework for work from home. This will define the liability of employers towards employees working from home.Fixing work hoursIt will also provide a legal framework for the new model of work which emerged during Covid-19. It includes fixing work hours for employees and paying additional expenses towards electricity and internet. Comprehensive formal structureThe government had formalized work from home for the services sector through a standing order. This order allowed employers and employees to mutually decide on the work hours and other conditions. The government now wants to bring a comprehensive formal structure for all sectors.  

https://youtu.be/RZUAxXRBWOY Tesla CEO Elon Musk is hiring Artificial Intelligence (AI) engineers. He had posted in Twitter about this.AI engineers”Tesla is looking for hardcore AI engineers who care about solving problems that directly affect people’s lives in a major way,” Musk tweeted.Interested candidates can apply by filling in the required details in a PDF format. Tesla’s AI and Autopilot unit develops and deploys autonomy at scale in vehicles, robots.“Tesla has scope for AI engineers who are interested in working in developing Full Self-Driving (FSD) chips, Dojo systems, Neural Networks, Autonomy Algorithms and coding. If given a chance you may be part of…

https://youtu.be/79nXO7FFmTA The government has no plans for boosting the cryptocurrency sector in the country. This was informed by the Ministry of Finance in the Parliament. No data on cryptocurrency The comments come in the wake of developments in the cryptocurrency space in India. The government is all set to introduce a Bill in the ongoing parliament session to regulate cryptocurrency. The government also said it does not collect any data on the cryptocurrency sector. It is expected to introduce the Cryptocurrency Bill in Parliament after it gets the Cabinet approval. Meanwhile, RBI is also planning to introduce a Central Bank…