India

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The clarification came from the Indian IT industry body NASSCOM after report that robotic process automation will lead to 30 percent reduction in low-skilled jobs by IT outsourcing firms. The sector will continue to be a net hirer in 2022 and set to become $300-350 billion industry by 2025, the agency added.....


The funds will be utilized to build the product and scale the member base Insurtech platform Vital—offering tailor-made, comprehensive, and pocket-friendly health plans designed specifically for every member’s individual needs—announced to have raised $3 million in total with a pre-Series A round led by venture capital company BLinC Invest. Venture Catalyst, Survam Partners, and several other angel investors also participated in…


There have been some points of good news for the Indian economy in recent days, suggesting that the impact of the second wave of the pandemic on economic output and activity has not been as great as was initially feared. One important such data point is the figure for the advanced collection of personal income tax and corporation tax in the first quarter of the current fiscal year. Compared to the equivalent quarter of the previous year — t…


The increase in aggregate funds of Indian clients with Swiss banks, from 899 million Swiss francs (Rs 6,625 crore) at the end of 2019, reverses a two-year declining trend and has taken the figure to the highest level in 13 years Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to 2.55 billion Swiss francs (over Rs 20,700 crore) in 2020 on a sharp surge in …


Indian UHNIs (ultra high net worth individuals) are expected to invest up to USD 30 billion in tech startups in the country by 2025, reflecting the growing investment opportunity for home-grown tech ventures, a report by 256 Network and Praxis Global Alliance said......


Lok Sabha Speaker says the 17th Lok Sabha had taken financial reforms on its plate so as to curb unnecessary expenditure Till early this year, even after a heavy repast at a Parliament canteen, rarely would a diner even look at the bill. After all, MPs, Secretariat staff and even mediapersons were enjoying a plate of mutton cutlet at just ₹18, mutton curry with bone cost no more than ₹20, and a masala dosa an absurd ₹6, thanks to heavily s…


The Bombay Plan was ambitious - and not just because it was the country's first economic plan. Harish Bhat tells the story of the plan and the thinking behind it, in the chapter "Tata, Birla and the Bombay Plan" in '#Tata Stories', his new book released on June 14, 2021......


The technology is enabling and empowering COVID-19 management across segments and industries The Internet has an ocean of images and videos that exude diverse meaning/context to its creator. It can become an extremely informative/relevant source of information should there be a way this data can be read, analysed to arrive at coherent information, and applied to derive meaningful applications, beneficial to a larger audience. Video surveillance i…


Company scales up its ambition after government advanced it Rs 1,500 crore for 300 million doses of its vaccine candidate. A few weeks ago, Hydera­bad-based Biological E made headlines by becoming the second created-in-India vaccine player with the government announcing an advance of Rs 1,500 crore for 300 million doses of its candidate Corbevax, which is awaiting the drug regulator’s approval. This order is part of a larger vaccine pla…


Earlier this month, Paytm's board had given an in-principle approval to raise around Rs 22,000 crore through its IPO One97 Communications, the parent company of Paytm has roped in some of the most influential investment bankers for its proposed initial public offering (IPO). JP Morgan, Morgan Stanley, Goldman Sachs and ICICI Securities are likely to lead the issue, touted to be the largest IPO in the financial sector.....


Heavy to very heavy rainfall is expected in many states on Thursday including Bihar, sub-himalayan West Bengal and Sikkim, Konkan and Goa and coastal Karnataka, India Meteorological Department (IMD) said......


Microsoft Corp on Wednesday named Chief Executive Officer Satya Nadella as its new chairman, in place of John Thompson. Nadella, who took over as CEO in 2014 from Steve Ballmer, has been instrumental in scaling up its business including billion-dollar acquisitions like LinkedIn, Nuance Communications and ZeniMax....


Net direct tax collection doubles to ₹1.86-lakh crore In a sign of economic resilience despite the devastating Covid-19 second wave, advance tax collections surged almost one-and-half times in the first quarter of 2021-22 compared to the previous....


2021-06-16

PM Modi's request to the start-up coming in India...


Trials are being done using its own technology in Mumbai, jointly with Ericsson in Delhi, with Nokia in Pune and Samsung in Gujarat   Reliance Jio Infocomm (RJio), a wholly-owned subsidiary of Reliance Industries Ltd (RIL), has commenced field testing of 5G network across four circles in the country.... The tests, which are to prepare the ground before a commercial rollout, is being conducted jointly with partners and using its own technolo…


While IPL 14 will not eat into the ad spends of the T20 World Cup, many advertisers who would want to advertise on both the properties will now have to make a choice between the two as budgets are limited....


The first round of funding will enable the Delhi-based startup to meet the market demand and help new-age e-tailers drive revenue With an aim to disrupt India’s vibrant and ever-growing logistics market, Delhi-based startup Wherehouse.io announced on Tuesday to have as raised an undisclosed amount in Seed capital led by Better Capital to build advanced solutions and capabilities for the country's e-commerce industry that is e…


More pvt lenders set to be given authorisation for providing services The new income-tax (I-T) portal is likely to add more private banks to collect taxes and any other amount, such as fees, penalty, and refunds payable under the I-T Act. The portal will also provide multiple payment options, including through Unified Payment Interface (UPI) and credit cards. Currently, taxpayers have the option to make payments through net-banking of large priva…


The UP Police have further filed an FIR naming Twitter and others over a video of assault on an elderly Muslim man in Ghaziabad, dated June 5 Microblogging platform Twitter has lost its legal indemnity in India because of its failure to comply with the new IT rules. The new rules required social media platforms to appoint key officers in the country. The loss of indemnity was highlighted on Tuesday after a case was filed against the social media …


Apna, a professional networking and jobs platform for blue-and-grey collar workers, has raised a $70 million in a Series B funding round led by Insight Partners and Tiger Global. Existing investors, Sequoia Capital India, Lightspeed India, Greenoaks Capital and Rocketship VC also participated in the round.....


Makes a strong pitch for differential pricing of Covid vaccines Pitching strongly for a differential pricing of Covid-19 vaccines, Bharat Biotech said the present supply price of Covaxin to the Centre at ₹150 per dose “is not competitive and clearly not sustainable” in the long run....


The Hyderabad police have served notices on Pradeep Agarwal, former Managing Director of Gurugram-based MADS Creations Private Limited and a Senior Sales Director (ERP Cloud) with Oracle India, in connection with a cheating case registered here in February......


India is a country of rich culture which can be witnessed in its myriad statue attractions. The country is also home to the world’s tallest statue, the Statue of Unity which is India’s famous leader Sardar Vallabhbhai Patel’s statue in Gujarat. Besides, there are several other gorgeous and famous statues all over the country. Have a look at some of the most prominent statues in India.


Tiger Global is in talks to lead a $100 million round in online car retailer Spinny, more than doubling its valuation to $800 million in just two months. Tiger Global Management is in talks to lead a $100 million round in online used-car retailer Spinny, more than doubling its valuation to $800 million in two months and continuing the New York-based investment firm’s dealmaking spree in Indian startups, sources said.....


Digitally signing your document is not only faster and more convenient than the traditional way of signing but brings with it an added perk of safety. In this article, we will be discussing digital signatures definition, among other things The coronavirus pandemic crept upon us like a sneaky raccoon, catching us unawares and destabilizing many business processes within a short period. The lockdown restrictions didn’t help either as many bus…


Nippon Power, South Asia Consultancy, PFH (Poddar Family Holdings) Resources and Chennai-based Adbhoot Estates could be the first ones to start production from blocks awarded during DSF-1 auctions India may soon see a new set of oil barons with lesser-known companies venturing into crude oil and natural gas production. These new kids on the block have come up through a mix of entrepreneurial grit and backing from oil industry veterans....


Even among those who purchased 'Made in China' products, 60 per cent said they bought only 1-2 items during the period, the survey found. A year after the clash between soldiers of Indian and Chinese armies at Galwan Valley in Ladakh, a survey has found that 43 per cent Indians didn't buy any China-made products in the last 12 months.


Biocon chief said that COVID has actually resulted in innovative vaccines being produced, such as Covaxin, Genova mRNA programme The ongoing COVID-19 public health crisis has resulted in the creation of an "ecosystem" of innovation in India, Biocon chief Kiran Mazumdar-Shaw has said ahead of the annual India-US bio-pharma summit in Boston next week....


Profit for the March quarter more than doubled to ₹350 cr Amid speculation over its privatisation, Indian Overseas Bank (IOB) has staged an impressive turnaround with a strong net profit in the pandemic-hit FY21 after suffering losses for six years in a row.....


Considering the positive momentum along with the decline in India VIX, a low-risk strategy like Modified Call Butterfly will be prudent. After some midweek jitters, the bulls continued their charge, with the Nifty again soaring to a new high of 15,855.80 and closing at around 15,821 in the previous week. The Nifty ranged between 15,600 and 15,850 during the week, gaining around 0.77 percent....


The idea that seems to be gaining cultural popularity in recent times, in part because of COVID has been the four-day workweek. Already companies in Europe and Australasia, Japan are swearing by its efficacy and citing growth in productivity of their people and less attrition rate. It has seen moderate to high success in the technology sector and some other sectors like FMCG and even Restaurants who are beginning to dabble with it....


The leading private equity player is re-entering the start-up space after around two decades ICICI Venture has decided to invest in digital start-ups and is considering setting up a separate fund for this purpose. It is also looking at setting up a new fund in real estate of around $300-400 million to leverage the post covid-19 requirements in the commercial space....


RInfra and other promoter holding in Reliance Power will increase up to 25 per cent after issue of equity shares and will further increase to over 38 per cent on conversion of warrants. Reliance Power on Sunday said its board has approved preferential issue of shares and warrants of up to Rs Rs 1,325 crore to promoter company Reliance Infrastructure Ltd (RInfra)....


Electric two-wheeler makers termed as "a phenomenal move" by the government to increase subsidy for such vehicles by 50% under the FAME II scheme saying it would be a game-changer in the adoption of eco-friendly vehicles....


As per the regulations, if a company failed to comply before the deadline, it loses its intermediary status. While the Ministry of Electronics and Information Technology (MeitY) has given more time to Twitter to comply with the new IT rules, this raises uncertainty on whether the micro-blogging site continues to be a social media intermediary, since the original deadline of May 26 has not been amended....


With companies moving from offline to the online space, technology has become an integral part of the system, and the businesses are dependent on them. Business roadmaps seem to be converging with tech roadmaps. For a CEO to make a decision regarding the business needs to be taken with the Technology head to ensure effective execution. With business roadmaps being dependent on technology, CTOs are proving to be key strategic leaders in any organi…


The question is not if but how When we first started taking our virtual student engagement tools to universities in early 2020, many of them believed they were looking at a supplementary measure at best. And understandably so, engaging and recruiting students has always been a major area of focus for universities, with many having invested in building illustrious academic reputations, campuses and research capabilities that have successfully draw…


On the client side, the bank is largely comfortable as 85 per cent of retail customers work with companies rated and above , where job losses have been low As large corporates are deleveraging and growth in the segment expected to be measured, the country’s largest private sector lender, HDFC Bank, is looking to leverage its distribution in non-urban markets and digital strengths in expanding its SME banking platform.....


The US mission in India is 'actively working' to accommodate as many student visa applicants as possible in July and August, says a senior American diplomat The US mission in India is "actively working" to accommodate as many student visa applicants as possible in July and August, and facilitating their legitimate travel remained a top priority for it, a senior American diplomat said on Sunday.....


State-run power giant NTPC has floated a global expression of interest (EoI) for setting up hydrogen fuel-based power backup system and a standalone fuel-cell based microgrid system, a statement said on Sunday.....


2021-06-13

GTU will develop indigenous 5G antennas


DLF will launch various projects, comprising 8 million square feet of saleable area, to tap this growing demand for residential properties, especially those built by trusted developers Realty major DLF aims a 30% jump in its sales bookings to ₹4,000 crore this fiscal, as the company expects a rise in housing demand despite the COVID-19 pandemic.....


Five of the 10 most valued companies together added Rs 1,01,389.44 crore in market valuation last week, with IT majors Tata Consultancy Services (TCS) and Infosys grabbing the limelight. While Reliance Industries Limited (RIL), TCS, Infosys, Hindustan Unilever Limited (HUL) and Bajaj Finance were the gainers, HDFC Bank, HDFC, ICICI Bank, State Bank of India and Kotak Mahindra Bank witnessed erosion in their market valuation....


2021-06-13

Modern Ambassadors Of Indian Literature | YUVA


2021-06-13

Mega Union Cabinet rejig: PM creates 'Team Modi' to reconnect with people


Govt hiked the demand incentive for electric two-wheelers to ₹15,000 per kWh from the earlier subsidy of ₹10,000   Electric two-wheeler manufacturers have termed the government’s decision to increase subsidy for electric vehicles by 50 per cent under the FAME II scheme as... extremely encouraging and a big boost to the industry.  


2021-06-12

In an independent appraisal report released today,United Nations Development Programme (UNDP) India has lauded the Aspirational Districts Programme (ADP) as ‘a very successful model of local area development’that ‘should serve as a best practice for several other countries where regional disparities in development status persist for many reasons’.   The report said due to concerted efforts made under the ADP, previous…


2021 is the first year we'll see skateboarding at the Olympics. Bengaluru-based Atita Verghese is prepping the next-generation of skateboarders from India. Atita Verghese breaks into a little laughter when I tell her why I am calling. “You are not the first one to ask me if I know about this film,” she says about Skater Girl, which follows the life of a village girl in Rajasthan as she discovers skateboarding and fights gender no…