Licious turning omnichannel with five stores in Bengaluru by June

Licious founders plan 500 stores in 5 years with 6% operating profit margin. Targeting profitability by FY25, focusing on offline strategy. Improved demand forecasting and introduced subscription model for growth.

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Binance's Changpeng Zhao sentenced to four months in prison over money laundering violations

Former Binance CEO Changpeng Zhao ('CZ'), 47, sentenced to four months in prison by U.S. District Judge Richard Jones in Seattle, becoming the second major crypto boss sent to prison.

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US newspapers sue OpenAI for copyright infringement over AI training

New York Daily News, Chicago Tribune, MediaNews Group sue Microsoft, OpenAI for misusing reporters' work. Lawsuit includes Copilot, alleges copying of articles. Ongoing suits by other news outlets. Lawsuits aim for damages and infringement block.

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Paytm Payments Bank’s mobile wallet business hits a nadir

Regulatory actions cripple Paytm Payments Bank's mobile wallet business, leading to a significant decline in transactions and value. Competitors like Mobikwik, PhonePe, Amazon Pay, and Slice experience growth in their wallet businesses.

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CII brings out new corporate governance charter for startups

CII launched a corporate governance charter for startups, including a self-evaluative scorecard. The tool allows startups to measure their governance progress, with score changes indicating improvements in governance practices as assessed against the scorecard from time to time.

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A gruelling IT marathon: FY24 was a turbulent year for the Indian IT sector. What lies in store for the next 12 months?

In the past two weeks of the final quarter and full fiscal 2024 earnings announcements, most IT majors failed to meet their revenue growth guidance. Many downward revisions for the year ahead were seen despite most firms bagging large deals and sitting on an arsenal of historic total contract value (TCV) wins.

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US courts may take note of India’s stance on TikTok: FCC chief Brendan Carr

India's TikTok actions may influence US courts as ByteDance battles the ban. Biden's divestment order, Chew's defense, Carr's skepticism, and First Amendment protection are key. China and India's relevance in potential litigation.

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New Study: Maternal grandmothers key to grandchildren's resilience against adversities

A University of Turku study reveals that support from maternal grandmothers can significantly enhance the well-being of grandchildren facing adversities, with effects persisting into adulthood. This support, ranging from childcare to financial assistance, mitigates emotional and behavioral issues stemming from adverse childhood experiences. Unlike support from other grandparents, maternal grandmothers' involvement yields notable benefits. Evolutionary biology underscores the significance of grandparental investment, yet further research is needed to fully grasp its impact on grandchildren's development.

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Startup twists & turns on IPO street; and other top tech and startup stories this week

Food and grocery delivery company Swiggy on Friday confidentially filed its draft documents for an initial public offering (IPO) with stock market regulator Securities and Exchange Board of India (Sebi), sources told us.

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Ireland emerges as top destination for Indian students seeking global education

The Consul General of Ireland, Anita Kelly, highlighted a significant rise in Indian students choosing Ireland for higher education, with numbers surging from 800 in 2013 to approximately 7,000 in 2022. Notably, universities witnessed a heightened influx of student applications following an MoU signing for dual degrees. Quoting Ambassador Kevin Kelly, experts project Indian student numbers nearing 10,000, predominantly pursuing postgraduate studies, reflecting a growing trend away from Canada and Australia due to visa constraints.

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Tata Electronics building Hi-tech machines to make iPhone casing

Tata Electronics is internally developing "very sophisticated" and complex high-precision machines used to produce the casing of these iPhone, sources told ET.

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Mohit Gupta, Mukesh Bansal’s omnichannel fashion startup Lyskraft raises $26 million in seed funding

Former Zomato executive Gupta will steer the venture as CEO, Bansal to stay away from operations. The fashion startup will focus on offline play in the premium women's wear fashion category and expand into other lifestyle segments later.

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FirstCry to refile IPO papers post Sebi order

FirstCry is set to withdraw its papers for an up to $500 million IPO as early as next week, after India's markets regulator raised questions over key metrics it disclosed to investors.

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With $11 million exit pay, Delaporte joins other CEOs in costly exits

An analysis of employment contracts of top IT leaders shows that in recent years, payments to exiting CEOs at companies such as Tata Consultancy Services (TCS), Cognizant and Wipro have ranged from Rs 48 crore to Rs 92 crore.

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Rapido announces free bike rides to voters in Bengaluru and other cities on Friday

On election day, voters can avail free rides on the Rapido app using the code ‘VOTENOW’ and exercise their democratic right, the company said in a statement. Rapido will deploy over 10 lakh captains across more than 100 cities to provide free rides on election-day.

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Bubble tea brand Boba Bhai raises Rs 12.5 crore from Titan Capital, others

Boba Bhai, a quick-service restaurant (QSR) brand specialising in bubble tea and other food items, said it will use the capital for its plan to expand to 100 outlets within the next 12 months. "Our goal is to expand in tier-1 cities within the next six months and then go to tier-2 and tier-3 cities,” founder Dhruv Kohli said.

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Our govt focusing on research, innovation in big way: PM Modi as QS chief lauds Indian universities

On Tuesday, Prime Minister Narendra Modi emphasized his government's significant emphasis on research, education, and innovation. This follows accolades from QS president Nunzio Quacquarelli, who praised the remarkable improvement in Indian universities' performance. Quacquarelli highlighted that Indian universities have showcased the highest performance enhancement among all G20 nations this year, with a noteworthy 14 percent year-on-year improvement in their average ranking, as stated in a recent social media post.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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Prof. KK Aggarwal appointed president of South Asian University, sets vision for regional education growth

Prof. KK Aggarwal assumes the presidency at South Asian University (SAU), bringing extensive experience and a vision for academic excellence. With plans to enhance diversity and introduce courses of common interest to SAARC nations, Prof. Aggarwal aims to propel SAU towards greater heights. His commitment to technology-driven education and regional cooperation underscores SAU's role as a beacon of knowledge and innovation in South Asia.

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Europe emerges as hotspot for Indian IT M&As, tops buy chart

Indian IT giants are on a European shopping spree, snapping up companies at a rapid clip. Europe's booming tech sector, outpacing North America, has fueled over a dozen acquisitions since the pandemic.

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Garena to localise India ops ahead of 'Free Fire' launch

Following the government's nudge for over seven months, Garena is finally moving its game server to India to be installed in Yotta Data Services' Navi Mumbai premises, sources told ET.

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CUET UG 2024 date sheet released; exam begins on May 15, download full schedule here

The National Test Agency (NTA) has unveiled the date sheet for CUET UG 2024, the Common University Entrance Test for Undergraduate programs. Scheduled from May 15 to May 24, 2024, the exam will be conducted in a hybrid format, encompassing both computer-based and pen-and-paper modes. Approximately 13.48 lakh candidates are expected to participate across 380 exam centers nationwide, with 26 cities overseas included.

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UGC NET June 2024 registration begins at ugcnet.nta.ac.in, direct link to apply here

The National Testing Agency (NTA) has initiated registrations for the University Grants Commission National Eligibility Test (UGC NET) for June 2024. This exam serves as a gateway for Junior Research Fellowship (JRF) positions, Assistant Professor roles, and admission to Ph.D. programs in 83 subjects. Interested candidates can apply on the official website from April 20 to May 10, 2024. The exam will be held on June 16, 2024, in OMR format.

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AP SSC Result 2024 out on Apr 22: Where and how to check

AP SSC Result 2024 to be declared on April 22 at 11 AM. Students advised to collect original mark sheets. Previous year's pass rates showed girls outperforming boys. Options available for unsatisfied students with associated fees.

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Startups shuffle top deck, play to ace long-term profitability game

At Third Wave Coffee, founder Sushant Goel transitioned to a board role after former KFC India head Rajat Luthra was roped in as chief executive, effective April 1. "The journey of starting up and getting the company at a certain scale is very different from taking it to the next level," said a venture investor with a global firm. "These changes are ultimately healthy in the sense that these startups are reaching a particular level."

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X owner Elon Musk says opposed to US ban of competitor TikTok

Elon Musk on Friday came out against banning TikTok in the United States, even if it would mean less competition for his social media platform X, formerly Twitter, as the initiative sees fresh bipartisan momentum in Congress. "TikTok should not be banned in the USA, even though such a ban may benefit the X platform," Musk said in a post on the social network he acquired in 2022.

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Quickening pace of quick-commerce; and other top tech, startup stories this week

It’s no surprise, given quick-commerce platforms are betting big on advertising revenues to contribute substantially to their toplines. HSBC Global Research expects Blinkit’s ad revenues to grow fourfold from $60 million in FY24 to $240 million in FY27.

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West Bengal HS council notifies semester system in state-run schools

WBCHSE introduces a semester system for classes 11 and 12 in state schools, starting from 2024-25 and 2025-26. The system includes four parts - semester 1, 2, 3, and 4, with board exams after the third and fourth semesters.

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Wipro Q4 net profit is down 7.8% to Rs 2,835 crore

The fourth largest Indian IT service firm, Wipro saw its headcount decline by 9.5 % in the fiscal 24. This is the third time in a decade that the IT major saw a full-year decline in its headcount, by ending the fiscal at a lower number compared to the start of the year.

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Tata Communications dials up AI compute spends as Nvidia deal advances

Cloud infrastructure provider Tata Communications MD and CEO AS Lakshminarayanan told ET the Tatas will partake in the Centre's AI Mission to offer AI services to startups and researchers.

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Flipkart’s majority stake talks with Zepto fall through

The strategic sale discussions are unlikely to be revived. Quick commerce company Zepto is now in discussions for fresh funding at a likely $2.5 billion valuation. It has held talks with the likes of General Atlantic, ADIA, among others.

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Former Unacademy COO raises $11 million from Matrix, Lightspeed for new edtech venture

Bengaluru-based startup Beyond Odds Technologies will provide employability-led training, certification, and recruitment services in the grey-collar workforce segment. It connects employers on the demand side to its talent supply base among students.

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Bombay HC temporarily restrains Cognizant from using trademark logo identical to Atyati Tech

Before the court passed its order, Atyati Technologies argued that last year in October, the company was surprised to learn that the defendant (Cognizant Technology) was offering almost identical services relating to IT infrastructure, etc.

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TCS has one of world's largest AI-ready workforces, says CEO K Krithivasan

IT services major Tata Consultancy Services (TCS) is equipped with one of the largest and most AI-ready workforces in the world, chief executive officer K Krithivasan told employees in an email at the start of the new fiscal.

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Meta oversight board reviews handling of AI-created celebrity porn

The board, which is funded by the social media giant but operates independently from it, will use the two examples to assess the overall effectiveness of Meta's policies and enforcement practices around pornographic fakes created using artificial intelligence, it said in a blog post.

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RBI moves to regulate PoS payment players

Companies like Innoviti Payments, Pine Labs and MSwipe will be brought under regulatory cover now. The regulator said companies providing the service will need to apply for authorisation from the RBI by May 31, 2025.

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iPhone may click with Titan, Murugappa

Apple explores partnerships with Murugappa Group & Titan Company for local assembly of camera module sub-components in India, aiming to shift operations from China and strengthen the Indian supplier ecosystem.

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CaratLane’s Mithun Sacheti, Binny Bansal back Xeed as Indian founders turn big local sponsors

In India, founders like Sacheti and Bansal are funding domestic funds like Xeed Ventures. The Rs 600 crore fund, with Premji Invest's backing, invests in startups like Charcoal.inc and Kredit.pe, led by Sailesh Tulshan.

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Several teacher associations in Bengal express concern over functioning of HEIs

Teacher associations in West Bengal protest against the state government and governor's interference in higher education institutes, demanding autonomy restoration and full-time appointments following UGC rules to ensure democratic environment in campuses.

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Universities must continue to be relevant to society, contribute to upliftment, says ex-president Kovind

Ram Nath Kovind highlighted the importance of universities aligning with national missions and embracing technological advancements at the convocation ceremony of Dr D Y Patil Vidyapeeth in Pimpri, attended by ISRO chairman Somanath S and S B Mujumdar.

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Skill gap in workforce, AI advancements make cyber attacks more threatening in India

India is witnessing an unpredented surge in cyber attacks. There is also a big skills gap in the cyber security workforce, and advancements in AI are making the problem more acute. While AI is a threat, it is also an opportunity. Synergy between AI and human expertise may be the key to safeguarding the country’s expanding digital ecosystems.

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Kerala Education Minister Files Complaint Against Misleading Social Media Post

Kerala Education Minister V. Sivankutty has lodged a complaint with the state police chief against a social media account named 'Mr Sinha' on X platform. Expressing outrage over a post showcasing a Kerala school textbook intended to spark societal discord, Sivankutty emphasized that the book was not published by the Kerala Government's Education Department. He urged for the post's removal and action against its creator, emphasizing Kerala's unity and rejection of communal agendas.

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Employees despair as bell tolls for Paytm Payments Bank; and other top startup & tech stories this week

While the regulatory action on Paytm Payments Bank managed to bring the entire business to a standstill, its largest business partner Paytm moved on to build new relationships with other lenders. Now its CEO who had joined the bank hardly a year back is set to leave by June 26.

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Schools Held Liable for Drunk Bus Drivers: Haryana Education Minister Takes Firm Stance

In the wake of the tragic school bus accident in Rewari, Haryana, Education Minister Seema Trikha issued a show cause notice to the school involved and mandated private schools to adhere strictly to transportation regulations. Trikha emphasized that school vehicles must operate within transport norms, warning of consequences for intoxicated drivers. The incident prompted immediate action, including the suspension of RTA Assistant Secretary Pradeep Kumar and directives for a thorough investigation into the accident's causes.

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Tata Neu goes live on ONDC F&B in Delhi-NCR, Bengaluru

Tata Neu, the superapp of Tata Group, also plans to reach more cities in May, sources told ET. ONDC already features two Tata enterprises on the seller side: StarQuick grocery app, and online grocer BigBasket.

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Apple readies M4 chips for Macs, Bloomberg News reports

They will include new iMacs, a low-end 14-inch MacBook Pro, high-end 14-inch and 16-inch MacBook Pros, and Mac minis - all with M4 chips, the report said, adding that Apple's plans could change.

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BJP tops Google ad spends as parties splurge Rs 117 crore since January

The ruling Bharatiya Janata Party (BJP) was the biggest spender on political ads. The party spent as much as Rs 39 crore, or one-third of the total amount, on ads on Google from January 1 to April 10. The Central Bureau of Communication (CBC) – the government’s nodal agency for advertising – follows on second place, with Rs 32.3 crore in ad spend, data showed.

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Fintechs seek clarity on digital currency tieups despite RBI blessing

Blockchain-based digital currency allows programmability of money. This means, in some cases, usage can be restricted to specific merchants only. This feature has caught the attention of the government, which is considering using it for targeted subsidy disbursements and preventing unauthorised access or misuse.

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AI compute mission best served by marketplace model, say experts

This comes just weeks after the union cabinet approved a Rs 10,371.92-crore India AI Mission. This mission looks to build and strengthen AI computing infrastructure in India of at least 10,000 graphics processing unit (GPUs) through public-private partnerships in five years.

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AI SaaS cloud platform Neysa bags $20 million from Matrix Partners India, others

Neysa, a Mumbai-based artificial intelligence (AI) cloud and platform-as-a-service startup, will utilise the fresh capital for expanding infrastructure required for strengthening its research and development team, and for sales and marketing.

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US court allows Google speaker imports in Sonos patent fight

The U.S. Court of Appeals for the Federal Circuit upheld a U.S. trade tribunal's decision that Google's redesigns of products, including Google Home speakers, Pixel phones and Nest Hub smart displays, were sufficient to avoid infringing Sonos' multi-room wireless audio patents.

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Illegal betting sites start new innings as IPL action picks up

Illegal sports betting sites like Parimatch, Betway, and 1XBet target IPL fans with discounts. E-Gaming Federation seeks government ban due to tax pilferage and national security risks. Fraudulent sites expose users to financial fraud.

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Filter Capital hits final close of Rs 800 crore maiden fund to back growth-stage tech firms

Filter Capital closed its Rs 800 crore first fund, targeting Series B and C rounds in growth-stage companies. The Mumbai-based firm focuses on software services-linked businesses and plans to deploy capital for five years.

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BSEB Bihar Board Compartment exam date sheet OUT for class 10 and 12: Check complete schedule here

The Bihar School Examination Board (BSEB) has announced the Bihar Board Inter and Matric Special/Compartment Exams 2024. Class 12 exams are scheduled from April 29 to May 11, 2024, in two sessions with a "cool off" period. Practical exams will take place from May 15 to 16, 2024. Registration for the BSEB Inter compartment exam and Class 12 scrutiny is closed today, April 7, 2024. Dissatisfied students can apply through the official website. Institutional heads will help to facilitate the process. Assistance is available through the helpline. Scrutiny fees are Rs 120 per subject.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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COMEDK UGET 2024 application deadline extended till April 8, here's the direct link to apply

COMEDK extends Karnataka UGET 2024 registration to April 8. Apply on comedk.org, follow steps, no negative marking in the English exam covering Physics, Chemistry, Mathematics.

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The rise of the GCC ecosystem in India

​​A new report by IT industry apex body Nasscom and Zinnov found that in the fourth quarter of calendar year 2023, India saw 10 new GCCs established, marking the entry of key MNCs like Edge Cortix, M31 technology Corporation, Signature IP into the Indian market. US-headquartered MNCs accounted for around 50% of the new GCCs.

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Prompt in progress: GenAI text-to-code tools boost productivity

Gen AI text-to-code tools hold promise of up to a 50% gain in productivity. Top IT firms are also embracing them for efficiency. But as Himanshi Lohchab and Beena Parmar find, the road to large-scale adoption is still dotted with caution.

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Startups in queue for insurance licence face stricter norms

Backing of a large local investor, considerable net worth of promoter and founder are among key requirements laid down by the sector regulator.

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Cognizant defers annual hikes to employees

IT major Cognizant said a majority of its associates have seen four merit increases within three years, with the last cycle being April 1, 2023.

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Meta pushes back on US FTC's bid to amend 2020 privacy settlement

Meta disclosed the bugs in July 2019, the Facebook-parent said in a filing on Thursday, adding it had spent $5.5 billion on its privacy program and related privacy initiatives.

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New AI law to protect Indian publishers: Navi eyes $2 billion valuation

News publishers in India have been seeking changes to the information technology rules to ensure fair compensation for the use of their content by generative AI models. The Digital News Publishers Association (DNPA) grouping has sent a letter and made representations to the ministries of electronics and information technology, and information and broadcasting, seeking protection from likely copyright violations by AI models, ET reported in January.

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Meet Devika, India’s first AI engineer who can do it all

Devika, India's AI engineer, competes with US's Devin using LLMs. It assists developers, plans to add multimodal features. Mufeed, a cybersecurity enthusiast, founded Lyminal, Stition, focusing on CodeSentry for automated secure operations.

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Exclusive | New AI law to secure rights of news publishers: Ashwini Vaishnaw

Global AI regulation discussions intensify as companies seek fair compensation for AI data training from publishers. EU leads with strict guidelines under AI Act. OpenAI claims fair use, NYT advocates for accountability in copyright law.

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Marketing software startup SingleInterface raises $30 million led by Asia Partners

SingleInterface, a marketing software startup, was founded and incubated as part of Smile Group in 2015 by Tarun Sobhani and Harish Bahl. The latter is also the founder of Smile Group.

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Good Glamm strikes JV with Serena Williams for beauty brand launch in US

The Good Glamm Group and Serena Williams partner to introduce 'Wyn Beauty by Serena Williams' in the US market, following in the footsteps of other celebrity-led beauty brands like JLo Beauty and Skims.

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Meta's WhatsApp down for thousands, Downdetector shows

WhatsApp, owned by Meta Platforms, experienced a significant outage affecting thousands of users globally. Downdetector tracked over 17,000 incidents, with users in India, the UK, and Brazil reporting problems. Meta did not respond to requests for comment.

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IT sector’s challenges persist in Q4; guidance for FY25 in focus

HCLTech and Tata Consultancy Services (TCS) poised to dominate Indian outsourcing industry with expectations of revenue growth acceleration in FY25 driven by higher discretionary expenses and strong deal wins in the US market.

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Yahoo acquires Instagram cofounders' AI news platform Artifact

Yahoo acquires Artifact, co-founded by Instagram's Systrom and Krieger. Integrating AI-powered recommendation engine. Yahoo owns TechCrunch, Engadget, and Taboola. Purchased by Apollo for $5 billion.

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Reliance's Tamil Nadu campus may host Meta’s first India data centre

Meta to establish its first data center in India at Reliance Industries campus in Chennai, enabling local content processing for Facebook, Instagram, and WhatsApp. The move aligns with the growing user base and ad revenue in India.

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ICEA talks to funds to set up an exchange for hi-tech India firms

ICEA leads discussions with fund houses to establish an exchange in India akin to Shanghai's Nasdaq. SEBI's pivotal role in developing an environment conducive to high-tech fundraising. Anand Lunia advocates for relaxed listing norms.

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