The race to get a New Umbrella Entity (NUE) licence for digital payments may get crowded. As many as six consortiums are said to be in the fray to apply for an NUE licence, which would create a for-profit National Payments Corporation of India (NPCI)-like body for retail payments. A consortium led by Financial Software and Systems (FSS), a leading provider of payment products and payment processor, is in talks and may file an application to the RBI for an NUE license, said sources aware of the development. The other constituents of this group include Indian Bank, Central Bank of India, India Post Payments Bank, National Bank for Agriculture and Rural Development (Nabard), and a few small finance banks.
Data processing compliance is the main reason behind the delay. The government, on several occasions, has made it clear that Indian financial data needs to be stored exclusively onshore and if it is processed outside, it needs to be brought back in 24 hours.
At 13, Anoushka Jolly has received funding for her app Kavach through which students like her can report incidents of bullying and harassment anonymously
$47.6 bn capital invested across 921 deals in India in 2020, despite pandemic.
Monetising online readership, a deeper focus on content and getting revenue from the reader are ways to make the business future-proof, observes Vanita Kohli-Khandekar.
Bharti Airtel chairman Sunil Mittal has expressed hope that the government and regulators will step in to ensure the sector remains a viable place for continued investments and asserted that the industry requires "long overdue" support to maintain its current 3+1 structure. In the latest annual report of Airtel, Mittal said as the sector's role in the economy becomes more pervasive, its challenges loom larger. Issues such as unsustainable pricing and low returns in a highly capital-intensive environment, coupled with legacy legal issues, "have extracted their toll", Mittal observed.
The exponential number of downloads can be attributed to a call by Prime Minister Narendra Modi, asking people to have the app on their mobiles, combined with the government's push for downloading of the app through other channels, reports Neha Alawadhi.
About 5.5 million users are looking for real estate online in India
President-elect Barack Obama's Transition Team has announced leaders for a series of Policy Working Groups for the Presidential Transition, which includes Indian-American Sonal Shah of Google, who will craft the incoming administration's high tech policy priorities.Shah heads Google's philanthropic arm, Google.org's global development efforts, and has a lengthy resume on international development issues.
...Are algos taking over from 'shoeshine and a smile', asks Ajit Balakrishnan.
Billionaire Mukesh Ambani-run Reliance Industries Ltd's retail arm on Thursday raised Rs 9,555 crore from Public Investment Fund (PIF) of Saudi Arabia, taking total fundraise in the last two months to Rs 47,265 crore. PIF will take a 2.04 per cent stake in Reliance Retail Ventures Ltd (RRVL), the Indian firm said in a statement. The investment values RRVL, the retail arm of Reliance Industries Ltd, at a pre-money equity value of Rs 4.587 lakh crore.
While New Jersey, US-based OrbitBeyond leads a consortium of subcontractors who have designed and developed hardware for deep space missions, Bengaluru-based Team Indus is leading OrbitBeyond's lander engineering, reports T E Narasimhan.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced to raise Rs 7,350 crore from two investors -- Singapore's sovereign wealth fund GIC and Global alternative asset firm TPG -- by selling a stake in group's retail arm.
The annual Amarnath yatra to the 3,880-metre high cave shrine in the south Kashmir Himalayas will commence on June 28 and culminate, as per the tradition, on the day of Raskha Bandhan festival on August 22, officials said.
Choose a place with bright lighting and always sit at the opposite angle so that people can see you clearly.
'The competition between the two is definitely going to be of great interest to the Indian market.'
The ban in India would hit Chinese internet companies that were making headway in the world's fastest-growing mobile market.
On the Digital India initiative, Pichai said India was undergoing its own revolution
A friendly working environment, special healthcare facilities, flexible work hours, work from home options, support and camaraderie among the team members keep employees highly motivated in these 10 companies.
The seven Indian-Americans are cybersecurity firm ZScaler CEO Jay Chaudhry, founder and chairman of Symphony Technology Group Romesh Wadhwani, cofounder and CEO of online home goods retailer Wayfair Niraj Shah, Silicon Valley venture capital firm Khosla Ventures founder Vinod Khosla, managing partner of Sherpalo Ventures Kavitark Ram Shriram, Airline veteran Rakesh Gangwal and Workday CEO and co-founder Aneel Bhusri.
Beresheet was developed by SpaceIL and Israel Aerospace Industries. If the mission had been completed successfully, Israel would have been the fourth country, after the Soviet Union, the United States and China, to land a spacecraft on the moon.
The wave of enthusiasm for digital technology had faded as we'd grown more and more worried about what smartphones and social media were doing to society and to us as individuals. Now that switchback ride between hopes for the technology and fear of it seemed to have taken us on another upward path, as the virus made us fall back in love with it. Read on for an intriguing excerpt from Rory Cellan-Jones's Always On: Hope And Fear In The Social Smartphone Era.
Abu Dhabi-based sovereign wealth fund Mubadala Investment Co will invest Rs 6,247.5 crore to buy a 1.4 per cent stake in Reliance Industries Ltd's retail arm -- the billionaire Mukesh Ambani-led firm's third such deal in less than two days.
The Hyderabad Garage will collaborate with teams in Silicon Valley, Redmond, Vancouver, Washington, New England, Israel and Beijing.
Technology purchases in the People's Republic will reach $136 billion this year, four times more than in India.
'There are only two bottlenecks for universal vaccination.' 'One, is availability of the vaccine.' 'Two, is the logistics for administering the vaccine.'
Home ministry sources say there are fears that international lobbies might have been involved in spying, to create a narrative around Indian governance as well as the economy.
Having dominated the summer placement scene at IIMs, companies like McKinsey, Boston Consultancy Group and UBS showed up for the first time for placements at IIT Bombay.
One should appreciate the sagacity and audacity of JRD and Nani Palkhivala in founding TCS on April 1, 1968. At that time there was no Microsoft or Intel, SAP or Accenture, much less Google.
They needed a person who could build and execute their vision: A frontiersman; a problem solver and an institution builder. It was their and India's good fortune that Faqir Chand Kohli more than measured up to their requirements and indeed laid the foundation to take TCS to unimaginable heights and to the giant success that it is today. Shivanand Kanavi salutes the incomparable F C Kohli, who passed into the ages last week.
Beware! Use of words such as 'attack', 'bomb', 'blast' or 'kill' in tweets, status updates, emails or blogs may bring you under surveillance of security agencies as the government will soon launch 'Netra', an internet spy system capable of detecting malafide messages.
Be brave to fail, learn, and lead, advises Abhilash R, founder and CEO, Bloombloom Dreambiz (P) Ltd and B-HUB Lifespaces.
Nicolas Franchet, Facebook's global head of retail and e-commerce, talks to Business Standard about how the company can help e-commerce firms target customers.
Krishna's appointment as head of the global IT giant adds to the growing list of Indian-origin executives at the helm of some of the biggest multinational companies. Krishna joins the club that includes Microsoft CEO Satya Nadella, Google and Alphabet CEO Sundar Pichai, MasterCard CEO Ajay Banga, PepsiCo's former CEO Indra Nooyi and Adobe CEO Shantanu Narayen.
SoftBank will pay 17 pounds in cash for each ARM share.
Every year Fortune honours 10 innovators, groundbreakers and game changers as 'Most Powerful Women Entrepreneurs'.
'When a person is capable of infecting 50 others, will you think about the privacy of the person or about protecting the lives of people?'
The terms of the acquisition were not made public.
In a policy paper submitted to US Senators, the Foundation for India and Indian Diaspora Studies (FIIDS) said the excessive delays in the processing of permanent residency applications due to country-wise quota contributed to America's loss of revenue, market leadership and competitive edge.
Five people in the know narrate the sordid story that is fast exploding into a pornography scandal, allegedly involving businessman Raj Kundra.
A war of words between Reliance Industries' Gautam Chikermane and hacker group Anonymous India broke out on Twitter.
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