Kotak Mahindra Bank’s shares dropped nearly 10% after India’s central bank banned the bank from taking on new clients digitally. The ban is due to information technology-related deficiencies. Analysts believe this will negatively impact the bank’s growth as it heavily relies on digital services. Kotak Mahindra Bank stated that it has taken measures to strengthen its IT systems and does not expect a significant impact on its overall business. However, several brokerages have lowered their price targets on the stock. You Can Read Full News By Clicking On Below Link.
read more at Hindustan Times
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Food delivery app swiggy is preparing for its upcoming IPO by offering a 20% discount on shares to high net worth individuals (HNIs). The company is valued at ₹80,000 crore and plans to sell shares at ₹350 each. Swiggy’s rising valuation has drawn comparisons to rival Zomato. Despite incurring losses, swiggy aims to reduce expenses through lower wages and marketing spending. The IPO comes amid…
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Uday Kotak, founder of Kotak Mahindra Bank, commented on the higher-than-expected US inflation in March. He believes this will delay rate cuts by the US Federal Reserve and keep interest rates higher globally, including in India. Kotak also mentioned that a rate cut in the US may happen closer to the presidential elections. The US consumer price index rose to 3.5% in March, reducing the chances of…
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Apple has made some important changes to their system that alerts users about potential threats. .
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Apple has increased its Iphone production in India, with approximately 14% of its flagship devices now being manufactured there. Taiwanese manufacturers Foxconn and Pegatron played a significant role in boosting production. Apple is looking to diversify its supply chain beyond China due to rising geopolitical tensions. Pegatron is in talks to transfer control of its Iphone manufacturing facility in…
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The Employees’ Provident Fund Organisation (EPFO) has introduced a new system to make it easier to transfer your provident fund (PF) balance when you change jobs. The new automatic transfer system allows your PF balance to be credited to your new employer’s account without any action required from you. To be eligible for this facility, your EPF account must be under the EPFO’s purview…
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Tesla is reportedly in talks with Reliance Industries for a possible joint venture to set up its operations in India. The discussions are at an early stage and have been ongoing for over a month. The aim is to build capacities for electric vehicles in India, and Reliance may play a significant role in establishing the manufacturing facility and the ecosystem for Tesla. Tesla has committed $2 billion…
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Air travelers in India may have to pay 5-30% more for flights this summer due to capacity cuts and operational issues faced by airlines. Vistara has cut back on flights, while IndiGo has grounded 75 aircraft. Experts predict a rise in airfare on popular routes, with a potential increase of 5-8%. Travel portals have observed a surge in prices, but expect fares to stabilize in a few weeks as flight…
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The price of Avenue Supermart shares has reached a new high for the past year.
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Bandhan Mutual Fund is launching the Bandhan Innovation Fund, which will invest in companies with high R&D investment, skilled employees, unique products, and brand presence. The fund is ideal for long-term investors with a higher risk appetite. It will allocate investments to different types of innovators and will have an exit load if redeemed within 30 days. The minimum investment amount varies…
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Tesla has settled a lawsuit over the death of a man who was using the autopilot feature while playing video games on his iPhone. The family of the man filed a lawsuit against Tesla, claiming that the company exaggerated the capabilities of its self-driving technology. The settlement amount was not disclosed. Tesla settled to avoid a lengthy court battle. This is not the first time Tesla has faced…
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Intel has unveiled its new Gaudi 3 chip, which aims to compete with Nvidia’s dominance in AI semiconductors. The chip is capable of training large language models 50% faster than Nvidia’s previous generation processor and can compute generative AI responses more quickly. Intel’s customers are looking for choice and an open approach in the industry. Intel has struggled to compete…
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Google CEO Sundar Pichai is surprised by how quickly Artificial Intelligence (AI) has been adopted in the past 10 months. He said that Google has been preparing for this for a long time. You Can Read Full News By Clicking On Below Link.
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The National Highways Authority of India (NHAI) has implemented the ‘One Vehicle, One FASTag’ rule, which means that each vehicle can only have one active FASTag. If a vehicle has multiple FASTags, only the most recent one will be activated and the others will be deactivated. Vehicle owners can recharge their FASTag through various payment methods. To check the status of FASTags linked…
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Elon Musk shared an old video interview of Steve Jobs where he talked about the importance of working with the right people and the process of turning ideas into great products. Jobs mentioned that a great idea is only 10% of the work, and the rest is craftsmanship and tradeoffs. Musk agreed with Jobs and emphasized the magic of the process. Jobs also highlighted the importance of a passionate team…
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Google CEO Sundar Pichai believes that Artificial Intelligence (AI) has the power to transform society, but he is concerned about the potential impact on Google’s business from startups with better ideas. He also acknowledges that it is difficult to predict what jobs will exist in the next 20-30 years, just as we couldn’t have predicted jobs like content creators or YouTubers in the past…
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