Digital Financial News

₹309 crore though its revenue also grew by 96% to ₹326 crore. The 2022-23 statements are not available on the Registrar of Companies. None of the two tech investments cited above are expected to be a write off—certainly not at the scale of Byju’s—but General Atlantic did have another stroke of bad luck, in October 2022.

Edited excerpts: IBM Consulting comprises 160,000 people including 21,000 data scientists and AI professionals, and a generative AI CoE (centre of excellence) of over 1,000 people. We’re working in three big areas. One of them is customer care and customer experience—applying generative AI for contact centre agents to improve call handling times and deliver better customer experience.

₹1,340 crore on Google and issued a cease and desist order to remove its monopolistic practices. India is not the only jurisdiction where Google’s Play Store is facing accusations of monopolistic practices. Last December, Google’s Play Store and billing service faced charges of being an illegal monopoly at a US district court.

Google’s recent delisting of 23 Indian apps from its PlayStore for non-compliance with its billing policy underscores its market dominance. After protests erupted and the government signalled its reproach of its action, Google reinstated some of these apps. Central to this conflict lies the Google Play Billing System (GPBS) and is rules that govern Android smartphone apps available at its app store, with the Supreme Court looking into the matter.

high support for the Bharatiya Janata Party, rising partisanship in India’s politics, and a widespread rejection of free welfare benefits. The survey asked respondents to identify the current government’s biggest achievements.

The Mollars token presale was at less than $50,000 raised on January 1st, the beginning of this new year.  Now, just 2 months late and possibly viewed as the ‘top ICO of 2024,’  it has surpassed $1-Million-Dollars raised after investors purchased nearly 2-million tokens.

PwDs) in the workforce, corporate India still has a long road ahead. As per an analysis of the Securities and Exchange Board of India (SEBI)-mandated Business Responsibility and Sustainability reports filed by 1,062 listed companies for 2022/2022-23, more than 87% of them said their workplaces were accessible to people with disabilities. However, only 0.6% of permanent workers they employed were PwDs.

AI have sought to allay the fears of governments and corporations by selling a future full of hope and assurance. Par for the course. Every political and economic revolution has offered these twin promises in lieu of a change that requires widespread — willing or unwilling — compliance and support to succeed. During the Industrial Revolution, capitalists organised workers in mills and factories to ensure the division of labour could increase output and profitability. The great hope then was that mechanisation would accelerate the pace of trade, while enriching lives of workers, many of whom were skilled craftsmen, through guaranteed employment and regular wages. Some of this came to pass, to the great delight of Utilitarian philosophers, including Thomas Gradgrind in Charles Dickens' 1854 novel, Hard Times. Gradgrind believed that simple mathematical facts were sufficient to overcome the burden of proof. But unreasonably long hours, subsistence wages, and little scope for advancement transformed the worker into a 'cog in the wheel', essential for productivity but utterly lacking in independence. The world was more unequal than before, with wealth being consolidated at an unprecedented rate.

Elon Musk's X social media platform, TikTok owner ByteDance and Booking.com may meet EU criteria subjecting them to tough tech rules as so-called gatekeepers, the European Commission said late Friday, after notifications by the companies. The Digital Markets Act (DMA) designates companies with more than 45 million monthly active users and 75 billion euros ($81 billion) in market capitalisation as gatekeepers providing a core platform service for business users.

Apple is making to its services in the European Union «make a mockery» of new antitrust rules in the bloc, 34 digital organisations complained to the European Commission this week. They include app makers Epic Games and Spotify.

Bengaluru cafe blast: At least 9 individuals were injured following a low-intensity blast at the Rameshwaram Cafe in the Whitefield area of Bengaluru, Karnataka. The police have confirmed that it was an improvised explosive device (IED) blast and they have zeroed down on a suspect, who came for breakfast in the cafe and left his bag there, which contained the IED. Karnataka Deputy Chief Minister D K Shivakumar said on Saturday that the Rameshwaram Cafe blast is similar to explosions reported in Mangaluru in 2022.

As Bitcoin (BTC/USD) hovers above the $62,000 mark, showing a 1.50% increase on Saturday, the cryptocurrency landscape is abuzz with anticipation.

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digitalization. This convergence forms the essential recipe for an economy poised to catapult into unprecedented growth and prosperity. The Indian economy stands on the cusp of explosive growth, being touted as the fastest-growing economy over the next 10 years and anticipated to become the third-largest economy by 2030. Thanks to advancements in technology, improvements in the standard of living, a surge in disposable income, and a general upswing in interest, financial awareness has become a prevalent topic of discussion recently. The principal drivers of Indian financial investments typically revolve around a few major asset classes: equities, real estate, gold and fixed income. Of these four, equity and FDs (as a proxy for fixed income) have been the financial market’s investment options. Historically, fixed deposits (FDs) have long been the go-to option for risk-averse investors seeking stability. For instance, as of March 2023, term deposits in India totalled $1.35 trillion, with individuals and Hindu Undivided Families (HUFs) accounting for 47.35% of the total, according to RBI data.

agencies in the European Union and elsewhere have voiced concerns about security risks as Apple opens up its iPhones and iPads to rival app stores to comply with EU tech rules, Apple said on Friday. Under the Digital Markets Act (DMA), from March 7 Apple will be required to offer alternative app stores on iPhones and allow developers to opt out of using its in-app payment system, which charges fees of up to 30%.

By Ashish Khandelwal

Piyush Goyal affirmed India's successful navigation through critical issues, safeguarding the interests of the nation's farmers and fishermen, at the 13th World Trade Organisation (WTO) Ministerial Conference. Emphasisng the importance of securing their well-being, Goyal stated, «I think that India has successfully delivered on the issues that were our role and has achieved the outcomes that we expected.» The Union Minister underscored the primary objective of shielding the agricultural and fisheries sectors from any adverse consequences. «Our objective was that our farmers and our fishermen should not face any kind of harm, no crisis should come, and in that, we successfully did not allow any such decision to be taken that would harm any farmer or fishermen,» he added.

(Reuters) — Alphabet (NASDAQ:GOOGL)'s Google must face advertisers' proposed class action lawsuit claiming that it monopolizes the ad exchange market, a U.S. judge ruled on Friday.

By Emma Farge

MUMBAI : The AI prosecutor or defence attorney isn’t on the horizon, but large Indian law firms are moving rapidly to adopt artificial intelligence to carry out a string of ‘simple’ tasks including research, drafting and client presentations, helping them achieve efficiency and leaving the lawyers to focus on litigation. Those entering the legal profession, however, need not fear for their jobs, law firms insisted, saying that AI technology would take over basic functions only. New joiners and interns at law firms—typically at the forefront of such work as part of their learning curve—would be able to cut down on efforts that include trawling voluminous data to summarize and analyze information.

'We got it wrong': Google CEO Sundar Pichai says 'Gemini AI responses show bias' Castel also said Gannett, the largest U.S. newspaper chain and publisher of USA Today, could try in a separate case to prove that Google fraudulently concealed anticompetitive effects of some technology. Gannett alleged that it sold some of its ad space directly to advertisers, but Google still made the inventory available for auction on its ad exchange in order to accrue transaction fees for its own benefit.