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SBI Chief says digital currency to transform cross-border transactions

C S Setty, the Managing Director of State Bank of India (SBI) has said that the central bank digital currency (CBDC), which are digital assets issued by central banks, is going to be a reality soon. He also added that it will play a key role in cross border transactions. At present, the Reserve Bank of India (RBI) is working on two sets of CBDCs, one is wholesale account-based and the other is retail-based....

Thoughtworks wins multiple awards in recognition of its diversity, equity and inclusion initiatives

Thoughtworks, a leading global technology consultancy, was honoured with multiple awards across categories in the diversity, equity and inclusion (DEI) space. The acknowledgements celebrate the company's leadership in building an equitable and inclusive workplace that is reflective of the society we live in. ...

Web creator Tim Berners-Lee's startup Inrupt bags $30 million in Series A financing round

As per news source, Inrupt, founded by the creator of the standards of the world wide web, Berners-Lee, and technologist John Bruce, has bagged about $30 million in its Series A financing round....

DIPAM gives nod to the BPCL, Bina Refinery merger plan

Bina Refinery has got the clearance from the Department of Investment and Public Asset Management (DIPAM) for the merger with Bharat Petroleum Corporation (BPCL)....

EV startup Ultraviolette bags investment of ₹112 cr from Zoho, TVS: Report

According to an MCA filing dated December 8, 2021, Ultraviolette Automotive raised $14.85 million or Rs 112.5 crore from TVS Motor and Zoho Corporation in a Series C round. TVS Motor Company led the round, infusing $9.9 million (Rs 75 crore) in Ultraviolette Automotive. Zoho has invested $5 million (Rs 37.5 crore) for a 2.46 percent stake in the venture....

Mobile industry vital for India's vision for $5 tn economy by 2025,says Kumar Mangalam Birla

The mobile industry will play a "vital" role in India’s vision to be a USD 5 trillion economy by 2025, of which USD 1 trillion will be the contribution from the digital economy, Aditya Birla Group Chairman Kumar Mangalam Birla said .Birla asserted that a robust industry is necessary to invest and accelerate achievement of Digital India vision. He called the industry "the growth engine" of Indian economy....

About ₹1,700 cr spent on the advertisement in media in 3 yrs: Union Minister

The Ministry of Information and Broadcasting informed the Parliament that it spent almost ₹1,700 crore on advertisements in print and electronic media in the last three years. Union Minister Anurag Thakur said, "The primary objective of government advertising is to create awareness of government policies and schemes among the intended beneficiaries." The amount committed for advertisements by the government through print and electronic media during the period 2018-19 to 2020-21 was ₹1,698.98 crore....

Need tighter regulations to deal with cybercrimes, says IT minister

There is a need for tighter regulations to deal with cybercrimes, Union Minister for Electronics and Information Technology Ashwini Vaishnaw said on Wednesday in the Lok Sabha in the Q & A session....

L&T signs agreement with Aramco for mfg facility

Larsen and Toubro (L&T) has signed an initial agreement with the Saudi Arabian Oil Company (Aramco) to develop manufacturing capabilities in Saudi Arabia....

India to Impose Ban on Crypto Payments, Deadline for Declaring Crypto Assets, KYC Rules

The Indian government has reportedly proposed banning the use of cryptocurrency for payments and setting a deadline for investors to declare their crypto holdings. Violators may be arrested without a warrant and held without bail. In addition, the crypto bill may call for a uniform know-your-customer (KYC) process for all crypto exchanges....