India

18 Aug

Wipro sets up generative AI centre of excellence at IIT Delhi

Priyanka BhowmickBusiness, IndiaBusiness, india

IT giant Wipro has inaugurated a new Centre of Excellence (CoE) focusing on Generative Artificial Intelligence (GenAI) in collaboration with the Indian Institute of Technology (IIT) Delhi. This partnership aligns with Wipro's commitment to investing $1 billion to drive AI-led innovation as part of the AI360 ecosystem. Housed within IIT Delhi's Yardi School of Artificial Intelligence, the Wipro CoE in GenAI will strengthen fundamental and applied research, nurture talent and advance the state-of-the-art field. "We are thrilled to partner with IIT Delhi for accelerated innovation in some of the most promising emerging areas of technology," said Subha Tatavarti, Chief Technology…

18 Aug

RBI launches portal to access details of unclaimed deposits

Priyanka BhowmickBusiness, IndiaBusiness, india

Reserve Bank of India Governor, Shaktikanta Das, on Thursday launched a central web portal called UDGAM (Unclaimed Deposits - Gateway to Access Information) "to search for unclaimed deposits across multiple banks at one place". "This portal has been created by the RBI to make it easier for members of the public to use and make it easier for them to search for their unclaimed deposits in multiple banks in one place," the RBI said in a statement. The Reserve Bank of India announced the development of a centralised web portal for searching non-claimed deposits as part of the statement of…

17 Aug

Burger King stops using Tomato in food preparations

Priyanka BhowmickBusiness, IndiaBusiness, india

Burger without tomatoes! can anyone imagine it? Yes, Burger King, the major fast-food chain recently decided to temporarily stop tomato and burgers from its wraps across its Indian outlets due to a sharp price hike. The move clearly indicates that the growing food inflation crisis is significantly impacting consumers in the world's most populous country. The chain, grappling with tomato shortages, humorously posted notices in its outlets, "Even tomatoes need a holiday… We can't add tomatoes to our food." Quality concerns have been cited as the primary reason for this move. It's important to note that, prior to Burger King,…

17 Aug

Indian Government plans to sell stakes in Indian Railway Finance Corp: Report

Priyanka BhowmickBusiness, IndiaBusiness, india

Shares of Indian Railway Finance Corporation (IRFC) plunged on Thursday, a day after the government planned to sell a portion of its holdings to the state-owned company through an offer for sale (OFS) in the current fiscal (FY24). IRFC shares opened at Rs 50 on NSE. The counter saw profit bookings and slipped nearly 6 percent to touch the day-low of Rs 48.25 on the NSE. The counter was trading at Rs 2.05 or 4 percent lower at Rs 49.2 on the NSE. Commenting on the counter, Sumeet Bagadia of Choice Broking said the stock could witness profit booking and…

16 Aug

Shah Rukh Khan announced as the Brand Ambassador for Sunfeast Dark Fantasy

Priyanka BhowmickBusiness, Entertainment, IndiaBusiness, Entertainment

Sunfeast has roped in SRK as the brand ambassador of dark fantasy. The brand recently unveiled several films featuring the actor. The campaign, titled 'HarDilKiFantasy', positions both Cookies and SRK as endearing fixtures in the public's heart. Set inside a salon, the film shows a woman frustrated because her appointment has been delayed. In her wait, she indulges in a Sunfeast Dark Fantasy treat, which leads to imagining SRK as her personal stylist. However, her dream is short-lived as it ends as soon as he eats the last bit of cookie. The brand has been teasing fans about SRK's partnership…

16 Aug

Ola Electric unveiled 4 new electric motorcycle concepts

Priyanka BhowmickBusiness, IndiaBusiness, india

Ola Electric showcased not one but four different motorcycle concepts alongside the launch of the new S1X range and Gen 2 platform. The bike lineup includes a roadster, an ADV, a supersport, and a cruiser model. All four models are in their early stages of development and here's what they look like. The ADV offer gets a futuristic look just like all other models. It has flush-fit panels around while styling makes it a thorough adventure bike. It has a wide handlebar with guards, an LED headlight at the top by a transparent visor, a side panel that is twice…

14 Aug

LS Digital buys Social Panga in third acquisition

Priyanka BhowmickBusiness, IndiaBusiness, india

India's largest digital marketing services company, LS Digital (formerly LogicServe Digital), has acquired Social Panga according to a company statement. The integrated creative company will become part of LS Digital's six-pillar structure, which consists of media, UI/UX, creative and communication, CX (MarTech), data and insights and tech innovation. This is LS Digital's third acquisition. Last year, it acquired Langoor Digital and F1 Studios. "This marks an important step towards achieving the goal of creating an end-to-end suite of services in India for the world," it said. "Social Panga will give the group an added edge in our robust digital marketing…

14 Aug

ChatGPT maker OpenAI likely to go bankrupt by 2024

Priyanka BhowmickBusiness, IndiaBusiness, india

OpenAI, the AI studio led by Sam Altman, may be on the brink of a potential financial crisis, as noted in a report by Analytics India magazine. According to the report, the company may go bankrupt by the end of 2024. Reports say OpenAI costs around $700,000 (Rs 5.80 crore) per day to run just one AI service – ChatGPT. Mr. Altman's OpenAI is burning through cash right now. Despite efforts to monetize GPT-3.5 and GPT-4, the company was not able to generate enough revenue to break even this time around. After launching in November 2022, ChatGPT became the fastest-growing…

12 Aug

Jadavpur University alumnus arrested in connection with death of Swapnadeep Kundu

Priyanka BhowmickIndiaindia

An ex-student of Jadavpur University was arrested on Friday and charged with murder in connection with the death of first-year student Swapnadeep Kundu on Thursday.Saurabh Chowdhury, the prime suspect in Swapnadeep's death, had completed his Masters in Mathematics from the university in 2022, but still shot at the main boys' hostel, lived there and was unofficially in charge of the hostel mess committee. The arrest came hours after the Jadavpur police filed an FIR against unidentified persons for murder. According to sources, Sourav was named in the FIR.Joint CP (Crime) Sankh Subora Chakraborty said, "Swapndeep's father Ramprasad Kundu submitted a…

12 Aug

Deloitte likely to resign as auditor of Adani Ports

Priyanka BhowmickBusiness, IndiaBusiness, india

Deloitte Haskins & Sells LLP is set to step down from its role as auditor of Adani Port and SEZ, Reuters reported. It comes after auditors raised concerns about certain transactions highlighted in a report by US short-seller Hindenburg. A person with direct insight into the situation shared this information with the news agency. According to sources, the auditor reportedly had differences with management regarding some transactions. Deloitte is expected to formally announce its resignation as Adani Port's auditor in the next few days, a source told The Economic Times. It should be noted that Deloitte has been auditing the…