BUSINESS
Aviation regulator receives report from Air India on urination incident
A senior DGCA official said that the regulator is examining their response. "We are examining their response. We will comment afterwards," said the official. As per sources, the airline has said that its internal committee has obtained the necessary documentation and held its first hearing and the alleged perpetrator has requested for additional documents prior to a second hearing scheduled for January 10.
India only reached halfway on its digital journey: Nandan Nilekani
Speaking at the Microsoft's 'Future Ready Technology Summit', Nilekani told the company's Chairman and CEO Satya Nadella that the ultimate goal is to improve the lives of more than 1 billion people with digital tools. "We need to ensure a more equitable, more inclusive, open access digital transformation," said Nilekani. He hailed digital initiatives like Aadhaar (which he himself executed successfully) UPI-based digital payments and account aggregator system that are "democratising the digital transformation". Payments through the UPI interface touched a record high of Rs 12.82 lakh crore in December, registering 782 crore transactions.
We want to push India's $1 trillion digital economy dream: Satya Nadella
Nadella told IANS that India's tax spend as a percentage of its GDP is becoming normalised when compared to the developed world, and is now among the top 10 countries. "I ask, what happens if India spends more on its tech sector? What is the productivity gain that the world can benefit from? And here, we want to move in with our world-class offerings," Nadella said during a closed-door session. "We want to be the infrastructure provider. We want to be the developer amplifier. We want to provide every part of our tech stack to basically help the country gain that leverage towards becoming a $1 trillion digital economy soon, he emphasised.
Satya Nadella meets PM, assures cooperation for Digital India campaign
"Thank you @narendramodi for an insightful meeting. It's inspiring to see the government's deep focus on sustainable and inclusive economic growth led by digital transformation and we're looking forward to helping India realise the Digital India vision and be a light for the world," Nadella tweeted after the meeting.
ISRO, Microsoft join hands to empower spacetech startups in India
"ISRO's collaboration with Microsoft will greatly benefit space tech startups in their analysis and processing of vast amounts of satellite data for various applications, using cutting-edge methods like AI, Machine Learning and Deep Learning," said S Somanath, Chairman, ISRO. Through 'Microsoft for Startups Founders Hub', space-tech startup founders in India will have free access to the tech tools, and resources they need to build and run their business.
Pak banks on Saudi Arabia to avoid default
"In matters of days, Saudi Arabia will beef up reserves," said Dar, while responding to a question whether there was any
concrete commitment from any foreign nation to avoid the crisis. Latern, he told The Express Tribune that Pakistan would receive $3 billion from the kingdom. Twice in the past three months, Dar had said that Saudi Arabia would give $3 billion cash -- the second bailout in the past one year.
We Founder Circle became the largest angel investor network with 71 deals in India in 2022
The platform became one of the fastest-growing angel network communities and has already facilitated funds worth over Rs 100 crore across 53 startups with 71 deals, it said in a statement. "We have been building a tech-enabled global investment & networking platform for the startup and investors ecosystem. This year, we have not only topped the list of most active angel investment networks, but we have also launched our startup marketplace to our community and now offer the same tech to other networks as SAAS products. In addition, we have launched two funds, a domestic fund and a cross-border fund," .
Indian startups take 5 yrs to scale from zero to $100 mn
With the ecosystem maturing in the last decade, the time taken to reach the $100 million mark has decreased significantly. What took 18 years in 2000 to reach $100 million revenue has come down to five years, according to data by Redseer Strategy Consultants. There are about 100 unicorns and 170 soonicorns in India. Of these 270 shining stars, 40+ startups in FinTech, eCommerce, and logistics have crossed $100 million revenue as of FY22.
Apple loses $1 trillion in market cap in one year
According to CNN, like many other tech companies, Apple has been hit by supply chain issues. Its manufacturing in China has taken a hit due to a fresh wave of Covid infections in the only major economy combating such a crisis. On January 3, Apple's shares were down by nearly 4 per cent after a report raised concerns about consumer demand for its products, according to the report.
More than 40% complaints received by RBI were on digital payment modes: Report
The volume of complaints received under the RBI ombudsman schemes consumer education and protection cells during 2021-22 increased by 9.39 per cent over the previous year and stood at 4,18,184 during the reported period. Of these, 3,04,496 complaints were handled by the 22 offices of RBI ombudsman (ORBIOs), including the complaints received under the three erstwhile ombudsman schemes till November 11, 2021. Since the establishment of centralised receipt and processing centre (CRPC) under the Reserve Bank - Integrated Ombudsman Scheme (RB-IOS, 2021),
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