Digital Financial News

Introduction

During a CNBC interview at DC Fintech Week, SEC Chair Gary Gensler discussed the potential revival of the bankrupt cryptocurrency exchange FTX, emphasizing the importance of operating within legal boundaries. The context for this comes in the wake of FTX founder Sam Bankman-Fried's recent fraud conviction and the company's bankruptcy last year.

U.S. Representative Tom Emmer, currently serving as the GOP Majority Whip, has been a prominent figure in the debate over the regulation of digital assets. His legislative efforts have consistently focused on clarifying and limiting the regulatory scope of agencies like the Securities and Exchange Commission (SEC) in the digital asset space. Emmer's stance reflects a broader push within certain political circles to establish clearer legal frameworks for cryptocurrencies and related technologies, aiming to encourage innovation while providing investor protection.

₹15,342.5 crore in FY23, double the ₹7,139.5 crore of FY22. Its net profit also doubled to ₹463.2 crore in FY23 from ₹201.1 crore the previous year.

NEW DELHI : E-SIMs or embedded SIMs will soon replace those fiddly physical SIMs in smartphones and other devices. Airtel’s top boss Gopal Vittal has urged subscribers to move to e-SIMs. But what exactly are they, how do they work, and what does it mean for us? Embedded SIM, or e-SIM is a digital copy of a physical SIM card.

In the ever-evolving landscape of digital currencies, Bitcoin (BTC) has once again taken center stage, breaking past the $37,000 threshold amid a wave of market optimism.

Chaurasia has joined Infosys as an associate vice president and will be leading the engineering services for aerospace, automotive, discrete & turbo machinery domains in Europe. He is based in Germany. Chaurasia is moving in from Accenture Industry X, where he led the aerospace & defence domain, along with important clients across automotive & discrete manufacturing domains.

ShareChat and Moj was elevated to a newly created role of CBO on Thursday. Betting big on the short-form video boom in the country, Jain told ET that he was focussed on helping marketeers understand how to leverage the power of the medium, building the ad business and strengthening ties with digital agencies.

In this era of digital and remote business operations, it’s not uncommon to hear that choosing the location of a company’s headquarters isn’t as important a decision as it used to be. However, if an entrepreneur is launching a decentralized finance company, they’d be wise to set that advice aside. Launching in a relatively young industry with unsettled regulatory environments and unique talent needs means choosing a headquarters locale is actually a critical decision.

With just 25 trading days left in 2023, U.S. stocks are on track to record one of their best annual performances in recent years, boosted by signs of cooling inflation which have fueled hopes that the Federal Reserve is done raising interest rates.

Volvo India aims to have 50 per cent of its vehicles to be powered with non-fossil fuels by 2030, a senior company official said on Thursday. While speaking at Digital Acceleration and Transformation Expo (DATE), Volvo Group President and Managing Director in India Kamal Bali said that the company has set a target to become net zero in terms of carbon emission by 2040.

OpenAI saga over the past week has brought attention to artificial general intelligence (AGI), especially with the revelations in a Reuters report that several researchers at the company had warned its board of a «powerful artificial intelligence discovery that they said could threaten humanity». So, what is AGI, how is it different from generative AI that powers OpenAI’s ChatGPT and what's at stake? An ET explainer:

Nirmala Sitharaman on Thursday said non-banking financial companies (NBFCs) and small finance banks need to heed the central bank and exercise due caution while lending, without “going too far too soon”. Speaking at the Digital Acceleration & Transformation Expo in the capital, organised by Trescon, the minister said: «Enthusiasm is good but sometimes it becomes a bit too far for people to digest. So as a measure of caution the RBI (Reserve Bank of India) has also alerted small finance banks, NBFCs to be careful that they don't go too far too soon and face any downside risks later.» Earlier this month, the RBI tightened the norms for unsecured consumer loans, as it directed banks and shadow banks to assign a higher risk weight to such credit.

Insurance behemoth Life Insurance Corporation (LIC) is set to unveil 3-4 new products in the upcoming months, aiming a double-digit increase in new business premiums during the current fiscal year. "We are projecting double-digit growth over the last year. We are going to achieve that because a recent trend is showing an uptick in individual retail business.

Bank of Baroda is yet to complete the forensic audit into the recent graft allegations against some of its key employees of its mobile app Bobworld, a senior bank official said on Thursday. «We are still working on the forensic audit as the central bank is still doing some more due diligence on the app Bobworld,» Joydeep Dutta Roy, an Executive Director of the bank, told reporters on the sidelines of the two-day national banking summit organised by IBA and Ficci. On October 10, the Reserve Bank of India (RBI) banned the lender from on-boarding new customers on its mobile app after finding certain material supervisory concerns.

local SIM card can be substantial. PRO TIP: Using local SIM cards in unlocked phones can significantly reduce communication costs while traveling abroad. Not only does it save money, but it also provides a smoother communication experience, free from the worry of unexpected charges and network issues that often accompany roaming services.

Amazon to provide training to micro, small and medium enterprises (MSME) in 20 identified districts to promote exports through e-commerce. As part of the MoU, Amazon and Directorate General of Foreign Trade (DGFT) will co-create capacity building sessions, training and workshops for MSMEs in districts identified by the DGFT as part of the ‘District as Exports Hub’ initiative outlined in the Foreign Trade Policy 2023, in a phased manner. Amazon will provide training by making digital catalogues and tax-related issues, among other services. The capacity building session will allow MSMEs to learn about imaging, digital cataloguing of their products, tax advisory amongst others. “To enable micro, small and medium enterprises (MSMEs) and boost e-commerce exports from the country, DGFT is collaborating with the various e-commerce players to leverage the Districts as Export Hubs initiative and promote e-commerce exports from the country,” the ministry said in a statement. The MoU was signed in the presence of Director General of Foreign Trade (DGFT) Santosh Sarangi, Chetan Krishnaswamy (Vice President, Public Policy Amazon), and Bhupen Wakankar (Director Global Trade Amazon India). “The initiative seeks to link local producers even in rural and remote districts with global supply chains.

Anton Watson scored a career-high 32 points to lead the Bulldogs to a 69-65 victory over the UCLA Bruins in the final game of the Maui Invitational on Wednesday night. The Zags were hoping to end their trip to Hawaii on a high note on Wednesday night. GU was defeated in its opening game in Hawaii by No. 2 Purdue, who went on to win the Maui Invitational after defeating Marquette in the title game. GU's loss on Monday dropped them into the consolation round, where they rebounded to dominate Syracuse, setting up a championship game against UCLA. The Spokane, Washington, native recorded 15 points in the first half of a replay of last season's epic Sweet 16 battle. Watson was outscoring the entire UCLA team at one point. One of Watson's first-half highlights was a slam off a Graham Ike assist. UCLA dragged GU's lead to single digits at one point after leading by 13, but the Zags were able to maintain a two-possession lead at halftime. In the first half, 40 free throws were attempted. The Zags shot just under 53% from the free throw line, while UCLA shot just under 74%. The Bruins kept blazing in the second half, earning their first lead since the game's early 3-2 advantage. Buckets from Watson and Ryan Nembhard, on the other hand, would help the Zags retake the lead. The Zags went on a 13-1 run to extend their lead, but the Bruins refused to go away. Following more back-and-forth between the two teams, the Zags were able to win thanks to clutch defense, more crucial baskets from Watson, despite three UCLA players who scored in double figures.

₹5 lakh and will be valid for a five-year period. Renewals for another five years can be acquired before the expiry by paying ₹2,500. No licence fee will be levied on electric buses.

HCLTech chief delivery officer for nearshore & new vistas locations Appa Rao VV has resigned, the IT services company said in a notification to stock exchanges. Rao was the company’s chief human resources officer before he took up the chief delivery officer role in October 2022. Ramachandran Sundararajan had succeeded him as chief HR officer at the time.