Author: Ansh Singh

New Delhi: India has decided to backtrack on its recent AI advisory following criticism from both local and global entrepreneurs and investors. The Ministry of Electronics and IT issued an updated AI advisory to industry stakeholders, removing the requirement for government approval before launching or deploying an AI model to users in the South Asian market. Instead, firms are now encouraged to label under-tested and unreliable AI models to inform users of potential issues. This revision comes after severe criticism earlier this month, with Martin Casado, a partner at venture firm Andreessen Horowitz, calling India’s initial move “a travesty.” The…

New Delhi: A signboard along a secluded road in Kodagu, Karnataka, warns travellers of a potential mistake by Google Maps. The sign reads, “Google is mistaken. This road does not lead to Club Mahindra.” Locals erected the sign after growing weary of lost travellers seeking directions due to Google Maps’ inaccuracies.  This image of the signboard circulated on social media platforms, sparking a discussion among users. Some criticized Google for its lack of user correction capabilities, suggesting that the company’s admin team arbitrarily rejects edits. Others shared personal experiences of being misled by Google Maps, highlighting instances where they had to…

New Delhi: One97 Communications Ltd, the parent company of Paytm, has been granted approval by the National Payments Corporation of India (NPCI) to operate as a Third-Party Application Provider (TPAP) within the UPI framework under a multi-bank model. Under this arrangement, Axis Bank, HDFC Bank, State Bank of India, and YES Bank will serve as Payment System Provider (PSP) banks for Paytm. In addition to their role as PSP banks, YES Bank will also serve as the merchant acquiring bank for both existing and new UPI merchants associated with One97 Communications Ltd. NPCI has stated that the @Paytm handle will…

Hyderabad: Recordent Pvt Ltd, India’s leading credit and collections management software platform, signs MoU with the International Federation of Electric Vehicle Association (iFEVA), India’s nonprofit organization dedicated to fostering the growth and development of the electric vehicle (EV) sector. Through this strategic alliance, Recordent is committed to extending its cutting-edge credit, collections, and recovery solutions to iFEVA member businesses, marking a pivotal moment in the evolution of the electric vehicle industry. The collaboration aims to establish an ecosystem of creditworthy sellers and buyers within the EV sector, empowering businesses to focus on their overall growth trajectory. This partnership underscores Recordent’Recordent’sg…

Mumbai: JM Financial Private Equity (the “Fund”) has finalized an investment of INR 45 Cr in Energy Beverages Pvt. Ltd. (“Clear” or the “Company”). Energy Beverages Private Limited owns a fast-growing national bottled water brand, “Clear.” Founded by first-generation entrepreneur Nayan Shah, the Company has emerged to become a leading player in the HoReCa (hotels, restaurants & cafés) segment and is gaining a footprint in the retail market in India. Mr. Nayan Shah has over 18 years of experience in the beverage industry. With a pan-India footprint, the Company is strategically expanding its distribution across the nation. Proceeds from the…

New Delhi: Tata Technologies has appointed Sukanya Sadasivan as its new Chief Operating Officer, marking a significant move for the global engineering and product development digital services firm. With a background in senior leadership roles at Tata Consultancy Services (TCS), including her most recent position as Senior Vice President & Chief Information Officer, Sadasivan brings over thirty years of extensive experience in the services sector. In her new role, Sadasivan will concentrate on enhancing delivery and practice operations, as well as strengthening internal digital and IT systems. These efforts aim to prepare Tata Technologies for an ambitious phase of expansion,…

Rome: Hamleys, the historic British toy brand, has further expanded in Italy with its second flagship store opening in Galleria Alberto Sordi, one of the most iconic locations in the heart of Rome. This strategic expansion, in partnership with GIOCHI PREZIOSI S.P.A., Italy’s leading player in toy production and distribution, closely follows the recent Milan store opening at iconic Corso Vittorio Emanuele. The new store in Rome is housed in Galleria Alberto Sordi, a historic shopping arcade acclaimed for its magnificent architecture. It is located on Via del Corso, one of Rome’s busiest and most illustrious streets. The store is…

New Delhi: Warehouses dominated America’s landscape initially, but now data centers are taking center stage. Prologis, a real estate juggernaut valued at over $100 billion, has appointed a new global head of data centers and is poised to inject more than $25 billion into this sector in the foreseeable future. This move mirrors its previous success in driving warehouse investments during the e-commerce surge spurred by the pandemic. Alongside Blackstone, Prologis is making a substantial wager on data centers. The CEO of Prologis emphasized the seemingly unquenchable demand in the sector during a recent earnings call, foreseeing a pipeline of…

New Delhi: Vishal Mega Mart, a budget supermarket chain in India, is reportedly planning an initial public offering (IPO) worth $1 billion. This IPO could potentially value the company at up to $5 billion, with a portion of the proceeds intended for expanding its store network. The majority of stakeholders, Switzerland’s Partners Group and India’s Kedaara Capital are expected to sell shares in the offering, although specific details regarding their ownership stakes and the extent of their sell-off remain undisclosed. Vishal Mega Mart’s CEO, Gunender Kapur, and the private equity firms involved declined to comment on the matter. The retailer currently…

Surat: Speculation arose about whether Surat Diamond Bourse (SDB)-world’s largest office complex, would turn into a haunted building or become a white elephant? Some events have been raising concerns about the project’s potential failure. However promoters are confident for positive turn of events in near future. Following the inauguration of the Surat Diamond Bourse by Prime Minister Narendra Modi on December 17, 2023, recent developments have sparked concerns about the future of the project. Employees of Kiran Gems, who initially came from Mumbai to Surat, have returned, causing a temporary cooling of activities at the bourse. The company is chaired…