How interoperability oiled the wheels of an M-pay revolution

RBI's netbanking interoperability aids fintech growth. Amit Kapoor recommends infrastructure interoperability. Rohan Lakhaiyar highlights cost reduction benefits. Sunil Kulkarni praises UPI's expansion. R Gandhi pushes QR-code harmonization for merchant digitization.

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Behind Hume’s conversational AI with emotional intelligence

Hume AI, backed by various investors, introduces a voice AI with emotional intelligence understanding human emotions. Founded by Alan Cowen, the startup secures $50 million in funding. The AI utilizes an empathic large language model and integrates with GPT and Claude.

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Navodaya JNVST Result 2024 out at navodaya.gov.in for Class 6, 9, direct links to check

NVS released JNVST 2024 result for classes 6 and 9. Candidates can check by logging in at navodaya.gov.in. Steps include entering roll number and date of birth to access the entrance test results.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Karnataka PUC 1 results 2024 OUT: What's next for candidates?

The Karnataka School Examination and Assessment Board (KSEAB) released the Karnataka 1st PUC Results for Class 11 on karresults.nic.in. Candidates can check their scores on their respective colleges, institutes. Last year, the overall exam result was 74.67%, with around 7,27,923 students registered and 5,24,209 eligible for Class 12 admission.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Bihar Board Class 10 Matric Result 2024 to be OUT today: Check on TOI website with these easy steps

The Bihar Board Class 10 Matric Result 2024 will be released today on the official Bihar School Examination Board (BSEB) website. Due to expected heavy traffic, their server may be down. To address this issue, TOI is also hosting the class 10 result. Read on for the TOI direct link to check results.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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14 years on, the marvel of DPI’s expanding universe

It’s been 14 years since the first Aadhaar number was issued, a decade since the Unified Payments Interface (UPI) was designed.Ever since, the digital public infrastructure universe has been expanding.

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Govt not at a standstill due to polls, working to make India a $35 trillion economy by 2047: Piyush Goyal

Ahead of elections, Commerce and industry minister Piyush Goyal spoke on centre’s focus, trade, new-age companies and more. He said country’s growth to be based on twin pillars of being inclusive & sustainable.

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OpenAI unveils AI technology that recreates human voices

The high-profile artificial intelligence startup said Friday that a small group of businesses was testing a new OpenAI system, Voice Engine, that can re-create a person's voice from a 15-second recording. If you upload a recording of yourself and a paragraph of text, it can read the text using a synthetic voice that sounds like yours.

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Tredence puts 10% revenues to develop GenAI capabilities: CEO Shub Bhowmick

Tredence, led by CEO Shub Bhowmick, invests in GenAI for various sectors, aiming for 40-50% revenue growth in 2024. The company emphasizes R&D to enhance AI capabilities and developer productivity.

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Alteria Capital logs final close of Fund-III at $195 million

Alteria Capital will back startups that have raised venture capital funding of up to Rs 200 crore each through the venture debt fund. ​The fund has already deployed 50% of the total capital commitments to portfolio companies, including One Card, Renee Cosmetics, Samunnati, BlissClub, Rebel Foods, Giva, Lead School, Kissht, Captain Fresh, Traya, BlueStone and Ather.

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Large action models gearing up to turn AI’s promise into action

Rabbit’s R1, the world’s first LAM-powered device, is set to start shipping in a week and tech biggies like Microsoft and Salesforce investing in this cutting edge technology. LAMs can be ‘revolutionary’ and bring significant business gains, experts said. AI making choices on the behalf of consumers will, however, also add further complexity to business decision-making.

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Fintech is making global payments its business

Razorpay, Cashfree, PayGlocal, and new entrants rush for RBI's PA-CB licence to tap into lucrative B2B cross-border payments market. Fintechs eye big share of $250B SME exports, focusing on high margins and expanding services.

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Stability AI CEO Emad Mostaque exits startup ‘hollowed out’ by departures, mismanagement

Stability AI CEO Mostaque resigns, leaving a turbulent legacy. The startup grapples with leadership changes, financial strains, and operational hurdles. Uncertain future looms despite efforts to pivot and stabilize amidst fierce competition in the AI landscape.

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Dell reduces workforce as part of broader cost cuts

Dell's layoffs come after sluggish demand for its personal computers for nearly two years partly contributed to a 11% drop in revenue in fourth-quarter earnings posted last month.

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Silicon Valley’s South Park Commons to launch India outpost with Binny Bansal

Ruchi Sanghvi and Aditya Agarwal, through South Park Commons (SPC), aim to support entrepreneurs globally, with a focus on India. Their unique approach involves nurturing ideas even before company formation.

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Top companies back move to set up open cloud compute network

People+ai, an initiative by EkStep Foundation co-founded by Nandan Nilekani, set out last year to address increasing compute demand in the country, which is increasing with AI.

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Physics Wallah shrugs off profit drop, plans more offline centres

Chief executive Alakh Pandey told ET that the offline business at Physics Wallah now contributes 40% of total revenue although it accounts for only 5% of its student base and the company is aiming to take the revenue share to about 45%.

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India’s gaming industry powers up

​​The report found that India contributes approximately 20% of the world’s total mobile game downloads, surpassing even the combined download totals of the next two: The US and Brazil.

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BSEB Inter Result 2024 Date & Time: Bihar Board Class 12 result out today at 1:30 PM

The Bihar School Education Board plans to release the BSEB Intermediate (Class 12) Result 2024 on March 23. The official declaration, scheduled for 1:30 PM, will be available at biharboardonline.com or biharboardonline.bihar.gov.in. Students who are eagerly awaiting their results can now look forward to their release following the Board's official announcement.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Investors greenlight Trump's $5.7 billion social media deal

The deal values Trump's majority stake in the company that holds his app Truth Social at about $3.3 billion. The windfall could prove vital as Trump grapples with the financial fallout of a string of legal cases against him, including a $454 million judgment in a civil fraud case in New York.

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P2P lenders to stop liquid funds; and other top tech, startup stories this week

Peer-to-peer (P2P) lending platforms have decided to halt one of their most attractive products from March 31 following increased regulatory scrutiny by the Reserve Bank of India, we reported on March 22.

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US lawsuit against Apple could make iPhone experience more consumer-friendly

In Europe, consumers have already benefited after a slew of rules and regulations compelled Apple to make a number of user-friendly changes to its popular smartphone, suggesting similar changes could occur in the U.S. if the Justice Department lawsuit is successful.

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Government likely to review laptop import management system in September

According to a senior official, the government aims to check whether companies made any efforts towards making in India.

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P2P lenders to stop ‘liquid funds’ as RBI peers into business

The initiative by the Association of P2P Lending Platforms comes on the back of sharp displeasure expressed by the country’s banking regulator over a spate of such products offering attractive interest rates and instant liquidation options to retail investors.

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Reddit shares open 38% above IPO price

The San Francisco, California-based company priced its IPO at the top end of the $31 to $34 range. The IPO valued Reddit at $6.4 billion, while the company and its selling shareholders raised $748 million.

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Startup secondary deals rise; Nexus MD steps down

Venture capital investors at late-stage startups are looking for exits amid increasing pressure to deliver returns. This and more in today’s ETtech Morning Dispatch.

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Nexus MD Sameer Brij Verma quits to open multi-stage fund

The fund will likely be $150-200 million in size, Verma will be a solo partner with a team of around a dozen executives.

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Global PE investors eye bigger pie of India’s software services sector

The number of PE firms holding majority stake in Indian IT services companies had doubled between 2019 and 2022 to more than 50, as per Avendus Capital data.

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Startups ‘reverse flip’: Pine Labs, Zepto, Meesho in queue for India return

Startups such as Pine Labs, Zepto, Meesho are the latest new-age companies looking to move headquarters to India. However, Indian-origin companies looking to move base from the US or Singapore face a hefty levy.

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'AWS working with Indian startups to solve for world'

Cloud major looking to export ‘great ideas’ from here, says Gaurav Arora, director and head of startup business in Asia Pacific and Japan at AWS.

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Nvidia AI developer conference kicks off with new chips in focus

Nvidia's new chip and software announcements at GTC 2024 will help determine whether Nvidia can maintain its leadership position as the dominant seller of the tools needed to fuel the past year's frenzy around AI. Nvidia dominates the data center AI chip market, capturing roughly an 80% share last year.

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Companies hail tweaked advisory easing AI model rollout

The revised advisory from the IT ministry does away with the provision that mandated intermediaries and platforms to get government permission before deploying “under-tested” or “unreliable” AI models and tools in the country.

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How people's reluctance to take phone calls is affecting companies and gig workers in particular

Ecommerce and logistics firms note a comparable drop in calls for deliveries longer than same-day or next-day, leaving gig workers hassled and late for their next drop. Businesses are trying to find ways to adapt to this change, all the while finding ways to get consumers to pick up important calls.

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India’s startup landscape: Funding winter continues as investment plummets

​​A new report brings out the continuing downward trend in funding, as investors remain more cautious and selective, even as India remained the fourth largest venture market in the world in 2023.

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Nvidia’s historic rally extends to a record-setting 10th straight week

Nvidia's 2024 rally, marked by a 0.4% stock gain and high chip demand, leads to a market cap of $2.2 trillion. CEO Jensen Huang will address the GTC conference, with Nvidia trailing only Microsoft Corp and Apple Inc.

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Dargah of Ajmer Sharif goes to court over YouTube video

Despite repeated flagging, platform did not take down content that outraged religious feelings, says petition

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Sam Bankman-Fried deserves 40-50 years in prison for FTX fraud, prosecutors say

Sam Bankman-Fried should spend between 40 and 50 years in prison after being convicted for stealing $8 billion from customers of his now-bankrupt FTX cryptocurrency exchange, prosecutors said on Friday.

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Gold loan startup Rupeek is staring at a down round

Rupeek could be staring at a cut of as much as 40-50% in its valuation. It was last valued at $600 million. A down round is where a company raises new funds at a lower valuation compared with the previous round.

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Apple buys startup DarwinAI, adds staff to its AI division: report

Apple has bought Canadian artificial intelligence (AI) startup DarwinAI and added dozens of the company's staffers to its AI division, Bloomberg News reported on Thursday.

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Sustainability platform Tapfin bags $4million in funding from Elevar Equity

The Mumbai-based company plans to utilise the freshly acquired capital to fuel its growth initiatives, expand its market reach, and enhance its technological capabilities by attracting top-tier talent across various domains.

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ChatGPT users to get access to news content from Le Monde, Prisa Media

ChatGPT users will get access to French and Spanish news content from Le Monde and Prisa Media, Microsoft-backed OpenAI said on Wednesday, disclosing its partnership with the media publications.

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PM Modi to lay foundation stone for Rs 91,000 crore Tata-PSMC chip plant

ET had reported on March 6 that the government was likely to hold the groundbreaking ceremony of all three units simultaneously, within a fortnight of the project’s receiving the Union Cabinet nod.

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STMicroelectronics CEO says China is a growth market despite US chip war

Speaking at a Citi technology conference in London, CEO Jean-Marc Chery said the company is not daunted by plans by Chinese chipmakers to invest in relatively older generations of chips, following a US-led campaign to prevent Chinese companies from being able to make their own advanced chips.

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Meet India’s own ChatGPT-style AI model Hanooman

The first version of ‘Hanooman’, an artificial intelligence model that can generate both text and speech in several Indian languages, is scheduled to be released in late March.

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Elon Musk can’t sue his way to AI breakthroughs, Vinod Khosla says

Musk, who was on the founding team of OpenAI, filed a lawsuit earlier this month against the company, accusing it of straying too far from its mission and becoming beholden to its largest investor, Microsoft Corp.

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Govt equipping over 100 colleges with cutting-edge chip design tools

Chip design relies on a limited number of global players for their essential design tools. No chip can be created without their software. The country heads of chip design software companies Siemens EDA, Synopsys and Cadence told ET that training with these tools ensures that students are industry-ready when they graduate.

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RBI ups scrutiny on credit cards

The Reserve Bank of India is tightening its grip on cobranded credit cards, a recently booming sector. This stricter scrutiny aims to prevent unregulated entities from gaining backdoor access to the credit card industry.

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Fashinza, Virgio to return majority capital after pivots

Fashinza and Virgio failed to attract customers in the original business plans for which they had raised the funds. They are now returning most of the capital they had raised, after a change in their business models.

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CUET PG Admit Card 2024 released for March 12 & 13 exams, download link here

The National Testing Agency (NTA) has released the admit cards for the Common University Entrance Postgraduate Test (CUET PG 2024). Candidates can download the admit card from the official website at pgcuet.samarth.ac.in. Admit cards for exams after March 12 and 13 will be released later.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Unveiling the future: From reinventing smartphones to life-like robots, top inventions from MWC 2024

Mobile World Congress 2024 showcased a glimpse of what to expect in our increasingly tech-driven world. From reinventing the familiar smartphone to life-like robots, the summit was brimming with possibilities. MWC gave us a first-hand look at an incredible life-like humanoid that can answer questions, hold a conversation, even have some jokes to tell.

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EU's Digital Markets Act hands boost to Big Tech's smaller rivals

The DMA is Europe's attempt to rein in Alphabet's Google, Amazon, Apple, TikTok owner ByteDance, Meta Platforms and Microsoft and create a level playing field for smaller rivals and ultimately more competition for Europeans.

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D2C startup The Ayurveda Experience secures $27 million in funding led by Jungle Ventures

The funding round at The Ayurveda Experience also saw investment from Sidbi Ventures, Anicut Capital and Sharrp Ventures (part of the Mariwala Family Office that runs consumer goods major Marico).

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Tech-first VCs line up for new-age consumer firms

Tech-first VC Nexus Venture Partners will lead a $5 million funding round in specialty coffee brand AbCoffee and it will also invest in lab-grown diamond maker Aukera, sources told ET. Accel, one of Flipkart's earliest investors, will close a $12 million round in fast fashion brand Newme. Why are tech-first VCs lining up for new-age brands with a horde of affluent young customers?

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Meta urged by US states to combat Facebook, Instagram account hijackings

In a letter to Meta's chief lawyer, states led by New York Attorney General Letitia James said fraudsters are "winning the war and running rampant on Meta," after the company in November 2022 announced thousands of job cuts focused on security and privacy.

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No point Googling ‘swadeshi’

A set of entrepreneurs of local internet companies are labelling Google's eviction of their apps from Play Store as hegemonic. People Group's Anupam Mittal said on X that Google's 30% commission structure was akin to a lagaan and compared the online search behemoth to the East India Company.

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Much excite, very wow: Meme coin volumes jump on local bourses

Famous meme coins such as Shiba Inu (SHIB), Dogecoin, Floki, Vita Inu, Doge Bonk and PepePAD made up around half the total trading value of $113 million on the top three Indian crypto exchanges in the 24 hours till 7 pm Tuesday, according to data from global crypto data platform CoinMarketCap.

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Big Tech app stores focus of EU digital crackdown: Margrethe Vestager

In an interview, EU's competition chief Margrethe Vestager said she’s most concerned about smaller app stores being given fair access to operating systems run by companies that dominate the market like the likes of Apple Inc., Alphabet Inc.’s Google, and Microsoft Corp.

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ETtech Explainer: Why are Indian startups up in arms against Google Billing?

On Friday, Apps like Shaadi.com and BharatMatrimony.com were delisted by Google since they did not adhere to the tech giant’s billing policies. However, ahead of a meeting with the IT ministry, these apps were restored on Google Play Store, but without their in-app payment options.

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Indian internet companies dial up fight against Google

Indian companies have asked the government to give Google a “strategic response” on what they deem to be monopolistic behaviour by the US tech major. Meanwhile, Google has maintained that its actions against the ten companies are only to make the ecosystem “fair” for a “vast majority” of developers who comply with its norms.

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Court says EU must pay a fraction of legal fees sought by Qualcomm

The Luxembourg-based General Court said the number of hours worked and hourly rates used in Qualcomm's claim was "manifestly excessive". Qualcomm submitted its legal bill to the European Commission in 2022 after the General Court backed the U.S. group's fight against a 997 million euro EU antitrust fine issued in 2018 and ordered the regulator to pay Qualcomm's legal costs

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Detecting deepfakes should not be the sole responsibility of platforms: Sam Gregory

Sam Gregory, executive director of Witness, a global human rights organisation, which uses video and technology to expose human rights abuses and has worked on the threats of AI and deepfakes, spoke to ET about AI related challenges and strategies in elections.

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Winning the subscription battle; and other top tech, startup stories this week

E-commerce industry executives say that the key to making a subscription programme work is always a large bouquet of offerings. The pricing can be made on the higher side and margins made higher only when the offerings become compelling enough.

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Myntra secures $54 million fund infusion from parent Flipkart

Myntra has been attempting to enhance its portfolio of international brands collections, with premium offerings showing fast growth. This as online fashion in the lower-price segments has lately witnessed a softness in demand.

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