Indian start-ups raised issues, such as blockages in international wire transfers, disruptions due to threshold limits on withdrawals, lack of communication from US agencies, and the need for preferential access to credit, in a meeting with the government over the fallout of Silicon Valley Bank's collapse. Rajeev Chandrasekhar, minister of state for electronics and information technology, held a virtual meeting with over 450 members from start-ups, venture capitalists, and investors who have been directly affected by the closure of SVB. He assured them that the IT ministry would put together a list of suggestions and give it to the finance minister on behalf of start-ups.
Around $200 million worth of deposits of Indian start-ups have been withdrawn from Silicon Valley Bank (SVB), which was taken over by US banking regulators last week after it collapsed, and moved to the Gujarat International Finance Tec-City (GIFT City) IFSC, Rajeev Chandrasekhar, minister of state (MoS) for electronics and information technology said on Thursday. "It turns out that there was over a billion dollars of deposits of Indian start-ups in SVB. "The existential, solvency crisis that was there six-seven days ago has become much more manageable, even the short-term liquidity crisis is being addressed as the bank allows access to deposits," the minister said while speaking at Lenovo's Tech World India Edition event.
The government wants a collaborative model with a public-private partnership to fact-check social media content.
India is now much ahead of other large railway networks in the world in terms of electrification -- with the US at just 1 per cent, China at 72 per cent and Europe at 60 per cent.
'It is a sign of a bigger problem which is coming in the next six months.'
'As long as businesses do not consider cyber recovery an integral part of their enterprise IT, they remain greatly vulnerable.'
In the last 12 months, over 7,500 Indians have applied for a resident permit.
Dip in attrition rates and higher bench strength seem to be signalling a normal year for hiring in FY24.
The MV Ganga Vilas will traverse through 27 rivers over 52 days, covering over 3,200 km.
MeitY had stated there was a need to set up GACs as grievance officers hired by the platforms often did not address issues satisfactorily.
CoinSwitch has 7.21 times more cash holdings in rupees, compared to that held by its users on its platform.
Data privacy as a career option is gaining ground with thousands of open job positions, swelling salaries, and rising compliance requirements across the globe, finds a report by data privacy and cybersecurity provider Tsaaro.
Focuses on meeting non-traction demand through renewables.
The price of bitcoin, the bestselling cryptocurrency, has shrunk nearly three times this year to mark the fate of such digital assets. Crashing prices, regulatory uncertainty and taxes have put Indian crypto exchanges in troubled waters. Finance Minister Nirmala Sitharaman's budget for FY23 announced a 30 per cent tax on any income from the transfer of virtual digital assets.
The industry came under scrutiny after the proliferation of games like cards, casinos, and fantasy sports among young people led to addiction and financial losses, with some reported cases of suicide.
'...helping the government, citizens, and companies get the balance right.' 'As great as technology is, these are societal questions, not just technical ones.'
Gaming platforms will also be required to display a warning after a certain time of usage to reduce the risk of addiction.
Since the first Aadhaar number was issued in September 2010, more than 1.33 billion Aadhaar cards have been generated till June 2022. With the Aadhaar enrolment of adult Indians nearing 100 per cent, the main objective of the Unique Identity Authority of India (UIDAI), which was to give Unique Identification numbers (UID) to all residents of India, is almost achieved, said a senior government official. "Enrolment will now be much more update-based, because people keep updating their mobile numbers and addresses.
'It's a big technology company and may offer good remuneration, but stability in my career is equally important to me.'
Several Indian traders, hawkers, as well as transport and gig workers' unions will join a global campaign by Make Amazon Pay coalition happening across close to 40 countries on Black Friday to protest alleged exploitative practices by the tech giant. Employees in the US, the UK, India, Japan, Australia, South Africa and across Europe are demanding better wages and working conditions as the cost-of-living crisis deepens, as part of the campaign. Trade unions, including Bharatiya Udyog Vyapar Mandal, Hawkers' Joint Action Committee, Gig Workers' Association, and All India People Science Network, will join the campaign.
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