Standard Financial News

SC Ventures, Standard Chartered Bank’s VC arm, and German banking giant Deutsche Bank have executed the first stablecoin swaps on the Universal Digital Payments Network (UDPN), per a report published Monday.

Ether (ETH) is back to trading flat in the $1,550 area after seeing a sharp reversal lower from earlier session highs in the $1,630s.

Sikkim flash floods: As the death toll in the Sikkim floods climbed to 40, including 7 soldiers, Chief Minister Prem Singh Tamang spoke with news platform NDTV and blamed the "inferior construction" of Chungthang Dam for the tragedy. The 1200 MW hydroelectric project was destroyed on Wednesday intensifying the damage due to the flash floods in the state. Prem Singh Tamang said that the previous Sikkim Democratic Front government should be blamed for the tragedy due their "sub-standard" work.

Hyundai announced its plans to adopt Tesla's electric vehicle (EV) charging standards. This strategic decision positions Hyundai alongside other automotive giants such as Ford, General Motors, Honda, and Polestar, all seeking to provide their drivers access to Tesla's rapidly expanding supercharger network as the electric vehicle competition intensifies.

IIT-Delhi researchers have achieved an experimental breakthrough on secure quantum communication up to a distance of 380 kilometres in standard telecom fiber with a very low error rate that can be helpful in securing financial transactions and secret codes. This long secure length is the highest achieved so far, not only in India but globally, for the Differential Phase Shift (DPS) QKD protocol, according to officials. The results of the research by Indian Institute of Technology (IIT)-Delhi researchers has also been published in the «Nature Scientific Reports» journal. «Such low quantum bit error rate (QBER) makes the quantum communication resistance to collective and individual attacks and implementable for various applications, such as securing financial transactions, medical records and secret codes,» said Bhaskar Kanseri, lead researcher and associate professor at IIT-Delhi's Physics Department and Optics and Photonics Centre. «It is also capable of securing network communication such as Internet of Things (IoT) and ready to revolutionise the field of cyber security,» Kanseri said. He added that this realisation using state-of-the-art technology will not only help in reducing the need for trusted nodes for intercity or long-distance quantum key exchange, increasing the security of the cryptography scheme, but also prove to be a crucial step towards the commercial production of long-distance secure practical QKD devices.

₹8,000-9,000," said Tarun Garg, chief operating officer (COO), Hyundai Motors India, told Mint. Hyundai's strategy to grab an edge back from the competition involves a three-pronged strategy: make advanced safety features such as ADAS (advanced driver assistance system) available as an optional feature in more of its current line-up of products (from 38% at present to 60% by 2024 and eventually 100% of its model range), make active safety features such as ESC (Electronic Stability Control) with VSM (Vehicle Stability Management) available in one or more trims across all models, and make basic passive safety equipment like six airbags for passenger and driver, three-point seatbelt and seat belt reminders standard across all models. "We enhanced our ADAS offering from a single model (Tuscon) to five models, including the Exter, in just one year, The response has been very good.

consumer goods to push consumer demand has become a big challenge for distributors who are finding no space to store such products, leading them to write to the Ministry of Public Distribution that there should be only four pack sizes. The new smaller packs are “leading to retailer reluctance, placing extra burden on retailers as they have to keep on adding new packs, leading to inventory management challenges, and impacting distribution efficiency,” said Dhairyashil Patil, national president of the All India Consumer Products Distributors Federation (AICPDF), which represents more than four lakh distributors and stockists.

Richard Hallett (pictured) will co-manage the fund alongside Josh Bramwell.

Justin Trudeau's security personnel stirred up concerns among Indian intelligence agencies during the recently concluded G20 summit when they declined the offer of staying in the presidential suite, which had been prepared by the Indian security establishment in line with the summit's strict security protocols for heads of state, a TOI report stated. The chosen accommodation for Trudeau was the Lalit Hotel in Central Delhi, where a pre-planned security setup had been put in place. This included state-of-the-art security features such as bulletproof glass reinforced with a thick layer of polycarbonate plastic, capable of withstanding even sniper bullets.

Ethereum (ETH) developers have introduced a new smart contract standard, ERC-7512, aimed at enhancing transparency and accessibility to smart contract audits for decentralized finance (DeFi) protocols.

Zodia Custody, a Standard Chartered Bank-owned crypto entity, is bringing yield on digital assets to institutional clients in partnership with Singapore-based digital asset platform developer, OpenEden.

Standard Chartered Bank has inaugurated its private banking centre in the city, the over-century-old bank said on Saturday. This Private Banking Centre is the fifth after Bengaluru, New Delhi, Kolkata, and Mumbai. Aimed at serving high net worth and ultra-high net worth clients, the Private Banking Centre offers products, advisory, and insights to manage, grow, and protect personal and business wealth. «Being one of the oldest global banks in India, we have relationships across multi-generations and therefore we can focus both on a traditional approach while offering bespoke, objective, and holistic advice supported by an open architecture platform,» said the Bank's Managing Director and Head Affluent, Private Bank and Branch Network, Nitin Chengappa. «We are excited to open our new private banking centre in Chennai.

The first set of standards for the Indian space industry, aimed at streamlining processes and technologies used by industry players, was introduced on Thursday.Bureau of Indian Standards (BIS), Indian Space Research Organisation (ISRO), and Indian National Space Promotion and Authorisation Centre (IN-SPACe) jointly launched the catalogue that consists of 15 standards.

BBC, Kim's preference for train travel during international trips is well-known, and he spent approximately 20 hours covering 1,180km on his slow-moving, green-and-yellow luxury train. Notably, the train's heavy armoured protection causes it to travel at a relatively slow speed of about 50km/h, much slower than modern trains.

Zodia Custody, a subsidiary of Standard Chartered, has officially launched its digital asset custody services for financial institutions in Singapore. 

Zodia Custody, a company that helps large institutions store their crypto, launched in Singapore on Tuesday in a bid to tap into the country's rapidly growing digital asset market.

map," China has been questioned by various countries with many of them lodging protests against the nation. Japan is the latest country to join the others in rejecting Beijing's map. According to Matsuno Hirokazu, chief cabinet secretary of Japan, the map's description of the Senkaku Islands is based on Beijing's claims. Hirokazu said the islands are unquestionably an «inherent part» of Japan's territory, in terms of both history and international law, according to Japanese public broadcaster, NHK World. He said that Japan has lodged a strong protest with Beijing via diplomatic channels and has demanded an immediate retraction of the description on the map. However, a Chinese foreign ministry spokesperson dismissed the Japanese government's protest over a description of Japan's Senkaku Islands in a new map released by Beijing, according to NHK. Notably, Japan controls the islands.

Fintech to showcase what India has actually strived on and achieved from a growth standpoint, said Transaction Sales Chief at Standard Chartered Bank said on Wednesday. «We have 100-plus countries participating. This allows India to showcase not only the talent it has but also the technology and platform that it has been able to achieve at scale to solve the problems,» Sanjeev Mehta,MD, Head of Transaction Banking (TB) sales-Corporate, Commercial and Institutional Banking-South Asia at Standard Chartered Bank told in an exclusive interview. Further, he said, «Other countries can just take it and follow, for example, digital payment, India took the lead.

Vedanta Resources is in talks with Standard Chartered Bank for borrowing $1.2 billion to $1.3 billion of loan against brand fee receivables without any restructuring pre-conditions, reported ET.

Vedanta Resources in talks with Standard Chartered Bank for $1.3 billion loan Vedanta Resources (VRL) is in discussions with Standard Chartered Bank for a loan of $1.2 billion to $1.3 billion against brand fee receivables without any restructuring pre-conditions. The loan deal, if sealed, will take care of debt repayments until January without the need to restructure the bonds. The discussions regarding lending rates are currently in progress and the loan could be priced around 14-15% with a duration of three years. The company has appointed advisory firm Morrow Sodali to identify the holders of its $1 billion 13.875% bonds and $1 billion 6.125% bonds due in 2024 and the $1.2 billion 8.95% bonds due in 2025, as reported earlier.

Aksai Chin occupied by it in the 1962 war as part of its territory. The map also incorporates China's claims over the nine-dash line thus laying claim to a large part of the South China Sea. The map was released by China’s Ministry of Natural Resources during the celebration of Surveying and Mapping Publicity Day and the National Mapping Awareness Publicity Week on Monday in Deqing county, Zhejiang province, as per China Daily newspaper.