Digital Financial News

Binance and its former CEO, Changpeng Zhao, approving billions of dollars in fines for money laundering following a case brought by the U.S. Commodity Futures Trading Commission, the agency said on Monday. Zhao will pay $150 million and Binance will pay $2.7 billion to the CFTC, the agency said in a statement.

CK Venkataraman, managing director of Titan Co. Ltd, as Business Leader of the Year at The Economic Times Awards for Corporate Excellence 2023, recognising his contribution to keeping the nearly 40-year-old company young and buzzing. The State Bank of India, the country’s largest lender, bagged the coveted Company of the Year award in a unanimous vote for its spectacular turnaround from heavy losses a few years ago.

Australian financial services firm Macquarie is looking to enter the credit space in India by launching a non-banking financial company (NBFC) as part of an electric vehicle (EV) platform it is planning to set up in the country. The NBFC will help commercial fleet operators avail credit and address a major gap in India’s EV ambitions, two people aware of the matter said. Macquarie will soon apply for a licence with the Reserve Bank of India (RBI), the two people said.

Nithin Kamath, chief executive officer of one of India’s largest stockbrokers, Zerodha, last week posted a deepfake video of himself to highlight the potential impact of such technology in the financial services world. “As the deepfakes improve, I think it will only become harder over time to validate if the person on the other side (of a video) is real or AI-generated. This problem will be bigger for banks that have more stringent regulatory requirements during onboarding,” wrote Kamath on microblogging site X (previously Twitter).

MUMBAI : Gamezop, the global provider of plug-and-play content solutions for apps and websites, is set to expand its offerings into three new domains—news, astrology and cricket—to help digital publishers monetize and boost user engagement. Part of Advergame Technologies, which also earlier launched the quiz service Quizop, the company is now launching three new products—Newszop, Astrozop, and Criczop—and has already licensed content from content developers. Newszop will be a plug-and-play solution that can be integrated into apps and websites as a news centre.

State Bank of India, the country's largest lender with nearly a fifth of the market share, has been a pivoting star, with its fortunes turning around in the past few years and rewarding investors who kept the faith. From a bleak position of reporting losses, the state-run bank made giant strides to report a net profit of ₹50,232 crore for FY23 under chairman Dinesh Kumar Khara.

NEW DELHI : Bhavish Aggarwal, cofounder of Ola Cabs, has announced a startup that he said is building “India’s own" foundational artificial intelligence (AI) model. The government, too, has been speaking about an India AI Programme. What exactly is ‘Indian’ AI? Mint decodes: What is colloquially referred to as ‘Indian’ AI is currently aspirational, referring to datasets that foundational AI models are trained on.

₹6999 to ₹1,00,000 per annum. Simultaneously, the company is also working on expanding in South East Asia and has launched operations in Malaysia this year.

By Martin Coulter

With increased competition from fintechs and embedded finance, financial services firms have been looking at head count with a reduction in numbers across several key players.

After a chaotic 2022, Canada’s air travel sector says it is “winter ready” as travellers will be hoping for a less turbulent time over the holiday period this year.

In the vast and competitive landscape of cryptocurrency, the visibility and reach of a token are pivotal. Welcome to the forefront of innovation – LMEOW Token, not just a meme coin sensation but a trailblazer in the realm of SEO dominance through AI-infused marketing strategies.

GFO-X is preparing for the launch of a digital asset derivatives marketplace for institutional investors. In May, the firm secured an agreement with London Stock Exchange clearing house LCH for secure settlement via its new, segregated central counterparty clearing service, LCH DigitalAssetClear.Corentine Poilvet-Clédière, CEO, LCH SA says: “LCH SA is excited to be working with GFO-X, together with the industry, to provide a regulated marketplace for bitcoin index futures and options as we look to expand our services to become a truly international clearing house.

Like it or not, generative artificial intelligence has arrived on Wall Street — and experts expect it to transform the way firms do business.

Apple said on Monday it would pause sales of its Series 9 and Ultra 2 smartwatches in the United States from this week, as it deals with a patent dispute over the technology that enables the blood oxygen feature on the devices. The move comes after an order in October from the U.S. International Trade Commission (ITC) that could bar Apple from importing its Apple Watches after finding the devices violate medical technology company Masimo's patent rights.

Washing Machine in the context of the broader range of front load washers available. It aims to guide potential buyers in making an informed decision by comparing key features, performance metrics, and user experiences. Also Read: 10 best 5-star washing machines: Here are top energy-efficient picks Say goodbye to hassle-free laundry days with the Samsung 6.5 kg, fully automatic front-load washing machine.

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Narendra Modi uses radio (and the internet) for wide and deep penetration of his weekly Mann Ki Baat talk. But the policy lessons from this access appear to have been forgotten in a country enraptured by the smartphone and app revolution. From a policy perspective, radio should retain importance, particularly for community-based broadcasting, emergency situations and education.

Hyderabad Auto & Taxi Drivers Association on Monday announced the launch of a new ride-hailing app Yaary, backed by the government’s Open Network for Digital Commerce (ONDC) protocols. The app has been built by Hyderabad-based startup Yaary, founded by former fintech professionals. Yaary has already onboarded over 20,000 auto and taxi drivers in Hyderabad, and is collaborating with various other driver associations across other cities to launch similar mobility apps, it said in a statement.

markets and a depreciation of the domestic currency is likely to enhance the competitiveness of the country’s exports while making imports of goods costlier. In a written reply in the Lok Sabha, minister of state for finance Pankaj Chaudhary also said spill-overs from geo-political tensions, aggressive monetary policy tightening across the world and recent surge in crude oil prices are some of the factors exerting pressure on the rupee against the dollar. At the same time, the exchange rate is only one of the several factors that influence demand for exports and imports in an economy, Chaudhary said. These factors include the types of the tradeables (essential or luxury items), availability of substitutes, freight costs and income growth of countries that buy goods and services from India. “Thus, the impact of recent depreciation of the Indian Rupee against the US Dollar, on levels of exports and imports cannot be isolated,” he added. The domestic currency has depreciated by more than 41% against the greenback since May 30, 2014 when one dollar equalled Rs 59.03. He said the Reserve Bank of India (RBI) regulates the foreign exchange market with a view to ensuring its “orderly functioning and development while eschewing undue volatility”. The central bank has announced a raft of steps in recent years to diversify and expand the sources of forex funding to mitigate exchange rate volatility and dampen global spill-overs, Chaudhary said.

FTX Trading Ltd. unveiled its latest proposal for returning billions of dollars to customers and creditors, kicking off a final round of potential squabbles about how best to end the bankruptcy case of the fraud-tainted crypto firm.