'This Lok Sabha election is more of a trial for GenAI content.'
About 281 cases have been taken up for investigation by the Directorate of Enforcement regarding suspected violations of foreign direct investment (FDI) norms all over the country during April 2019 to March this year, Parliament was informed on Wednesday. Necessary action as per provisions of Foreign Exchange Management Act, 1999 (FEMA) has been taken, which includes issuance of show cause notices, adjudication and imposition of penalty, Minister of State for Commerce and Industry Som Parkash said in a written reply to the Lok Sabha. In these cases, following the due process of adjudication, penalties of more than Rs 2,600 crore have been imposed under the FEMA, he said, adding the Reserve Bank of India (RBI) has done compounding of contraventions of FDI related FEMA provisions in total of 1,421 cases across the country during the last three years.
As 8 new startups join the 2018 club, average time taken to be a $1 billion firm now stands at 5-7 years, next only to China, says a Nasscom report
Following the Reserve Bank of India's (RBI's) action against Paytm Payments Bank, participants in the fintech ecosystem have turned their attention to giving priority to compliance with regulatory norms. Fintech industry players say the episode will ensure adherence to such measures. Executives Business Standard spoke to said companies should have clarity on their requirements.
A day after investors of the troubled edtech firm Byju's voted for a leadership change, Byju Raveendran has penned a note to employees saying he continues to remain CEO and the management remains unchanged, as he dubbed Friday's EGM as a "farce". The note to employees assumes significance as it comes after Byju's shareholders (prominent investors) on Friday voted for removing founder-CEO Raveendran and his family from the board over alleged "mismanagement and failures" at what was once India's hottest tech startup, but the company dug in its heels, calling the voting done in absence of founders as invalid and ineffective.
Edtech firm Think and Learn Private Ltd, owner of Byju's, on Thursday said neither the company's founder and CEO Byju Raveendran nor any other board member will attend the extraordinary general meeting called by some select investors. Shareholders at Byju's are set to vote on Friday on a resolution brought by some investors to oust founder CEO Byju Raveendran and his family members over alleged "mismanagement and failures". Byju's has called the EGM "procedurally invalid" and contractually in contravention of the company's article of association and shareholder's agreement.
From those highs, the Bengaluru-headquartered company founded in 2011 is now looking to sell two companies it lists as "well-known acquisitions" on its website - Epic and Great Learning. But strategic buys have been critical to its quick expansion. The company got a valuation of about $8 billion by January 2020 after becoming a unicorn in late 2017.
'Students of Tier-II and Tier III engineering colleges in the south may find 2023 to be one of the toughest years for getting jobs.'
Group buying sites, discounted fashion brand retailers and specialised online stores dominate the list of 20 hottest e-commerce start-ups.
The upstream oil and gas (O&G) sector has delivered a stellar performance in the stock market in the recent past. The O&G sector is dominated by PSUs and despite the imposition of a windfall tax, profitability has been impressive. Oil India Limited (OIL) is particularly favoured by investors.
The securities regulator's approval for the first US-listed exchange traded funds (ETF) to track bitcoin has given Indian cryptocurrency companies hope that the move would create domestic support for the digital assets. The US Securities and Exchange Commission (SEC) on Thursday approved 11 ETFs for bitcoin, perhaps the most popular virtual currency. It would enable investors to access bitcoin without challenges such as setting up wallets or accounts with crypto exchanges that have previously suffered cyberattacks or implosion.
The edtech major promised a learning revolution, offering hope to millions of under-educated youth. Now, those dreams are shattered, observes Devangshu Datta.
Inspired from a real life incident, this is the story of how Aarti buckled herself up after her divorce and rebuilt her financial life.
Although the third quarter of financial year (2023-2024) FY24 (Q3FY24) was marginally below expectations, Info Edge (India) is witnessing strong investment trends and hitting new highs. The big driver is optimism about a pickup in the jobs market, which benefits Naukri.com and could mean upgrades in Q4FY24 expectations. The JobSpeak Index, which Naukri.com releases on a monthly basis, is showing a "transformative shift".
Describing the state visit of Prime Minister Narendra Modi to America as a "watershed moment" in bilateral ties, US Ambassador to India Eric Garcetti has said that this week will be one of those moments that can change the course of history as the two democracies get together for peace and prosperity.
Skyroot Aerospace has become the first private company in India to give wings to the Indian space programme, after the sector was opened to private players by the Centre in 2020.
Dawtrey said he was planning to quit his job in May and travel to India to train in an academy affiliated with Pro Kabaddi side UP Yoddha.
Gujarat and Karnataka have been ranked as the best performers in developing startup ecosystem for budding entrepreneurs, according to the ranking of states and Union territories by the Department for Promotion of Industry and Internal Trade (DPIIT). Among smaller states having population of less than one crore, Meghalaya has been adjudged as the best performer. The rankings are based on the initiatives taken to develop the startup ecosystem for promoting budding entrepreneurs.
He said India too had started its new journey after Independence. 'By the time 25 years were completed, a lot of work should have been done for standing on our own feet but a lot of time has been wasted,' he said.
'There is a behavioural shift and conservativeness with companies cutting down on manpower and rationalising the number of people.'
598 problems. 7,531 possible solutions. 10,000 students. Vivek Kulkarni takes us through the making of the 36-hour event.
After startups and Big Tech, the layoff season may have begun at the $245 billion Indian information-technology (IT) industry. Bengaluru-based IT major Wipro is looking to cut hundreds of jobs, targeting mid-level employees working onsite as the company looks to improve margins, according to a media report, citing two sources. The company has said it is aligning its business and talent to the changing market environment.
Prosus NV, an investor in educational startup Byjus, on Tuesday said the troubled company's reporting and governance structure did not evolve sufficiently for a company of that scale and it "regularly disregarded advice" despite repeated efforts by the Dutch-listed technology firm's former director. Prosus, which this year slashed its valuation of Byju's to $5.1 billion from $22 billion last year, said the decision for its director to step down from Byju's board last month was mainly because he was "unable to fulfil his fiduciary duty to serve the long-term interests of the Company and its stakeholders." In a statement, Prosus said Byju's grew considerably since its first investment in 2018.
A top management leadership team from SoftBank has been coming to India in the last few days to meet the founders of start-ups and other investors, signalling the country's emergence as a pivotal market for the global investment giant. Based on current estimates, India accounts for nearly 10 per cent ($20 billion) of SoftBank's invested assets under management (AUM) globally. That makes the country its third largest market after the US and China.
At a time when the role of corporate boards is once again under the scanner, independent directors on the Paytm Payments Bank board have indicated that red flags were raised over regulatory issues but they may have been late in doing so. "As independent directors, we asked questions and monitored responses to the Reserve Bank of India (RBI). Many changes were made on compliances. "Obviously, in retrospect, it was not found to be enough," said one of the independent directors on the condition of anonymity.
Quick commerce startups hope to race towards better days. Can they crack the execution code?
Bajaj Auto, the king of the market for CNG-powered passenger three-wheelers, now wants to replicate this dominance in two-wheelers. The difference is that while the former is zooming - registrations for CNG-powered passenger three-wheelers nearly doubled during January-December 2023 - the latter, meaning a market for CNG-powered two-wheelers, does not exist.
Indian exporters shipping goods to Israel may face higher insurance premiums and shipping costs due to the Israel-Hamas conflict, according to experts. Israel witnessed a surprise and unprecedented multifront attack by air, land and sea by the Hamas militant group, which rules the Gaza Strip, in its southern parts on Saturday morning. The International trade experts said the conflict may reduce the profits of domestic exporters but will not impact trade volumes unless war escalates.
While the market for satellite broadband currently is small, the potential is large as an estimated 30 per cent of the country does not have reliable terrestrial broadband services.
As the Men in Blue took on Australia in an intriguing ICC Men's Cricket World Cup final in Ahmedabad on Sunday, the orders on quick delivery platforms reflected the pulsating mood of the nation.
Vijay Mallya, who faces prosecution in India, is reportedly in London.
While tenants can't escape the impact of rising rentals entirely, they can adopt a few strategies to reduce the impact.
If electric cars with a real range of more than 400 km are launched, the anxiety regarding the charging points will come down, and more people will buy EVs.
'As the world goes digital, we cannot afford to be left behind.'
'Given that the market is now demanding disciplined growth, well-run companies should be able to demonstrate profitability with the cash on hand.'
According to a study more than one-fifth of India's product start-ups are from the city.
If you are interested in working with OpenAI, feel free to email Sam Altman. In a free-wheeling fireside chat with university students on Thursday in Delhi, the CEO of OpenAI and his team seemed eager to welcome bright young IT practitioners of India into the OpenAI work space. Asked about the steep degree requirements for applying to tech giants such as Microsoft and Google, Altman said that his company was open to hiring undergraduates and even college drop-outs.
Modi, upon arrival, was received by External Affairs Minister Sushma Swaraj.
Following are comments from economists at leading financial institutions, banks and rating agencies on the interim Budget:
