Tag Archives: as

Sachin Bansal steps down as Ujjivan Small Finance Bank director; here’s why

Sachin Bansal has resigned as independent director of Ujjivan Small Finance Bank in the interest of propriety and corporate governance after an entity owned by him submitted an application to the Reserve Bank of India for a universal banking licence. Within four months of acquiring a majority stake in Chaitanya India Fin Credit, Flipkart co-founder Sachin Bansal-led microlender had applied for a universal banking licence on ... Read More »

Advantage captives as global finance companies move core tech work in-house

PUNE: Global financial services providers are moving more core technology development work inhouse, making India captive centres increasingly important in their business plans. More than 78 global banking and financial services companies, including Goldman Sachs, Deutsche Bank, JP Morgan and Standard Chartered, have set up captive units here that employ a combined 250,000 people, according to industry consultancy Zinnov. Earlier this month, former SAP ... Read More »

Britain Honors Computer Scientist Alan Turing as The Face of Their New Bank Note

Alan Turing, a founding father of computer science and artificial intelligence, was revealed Monday as the face of Britain’s new 50-pound bank note. Turing was also famed as a World War II codebreaker whose work was widely credited with hastening the end of the war and saving thousands of lives. But at the time, his achievements were overshadowed following his ... Read More »

“Terrorists use the internet in much the same way as other people.” How should tech companies deal with it?

How should tech companies regulate terrorist content? Brian Fishman, the policy director of counterterrorism at Facebook, published a paper in Texas National Security Review about the challenges that tech companies face in removing terrorist content from their platforms. It’s important to understand how terrorists use the internet, Fishman writes. Generally speaking, terrorists use the Internet in much the same way as other people: ... Read More »

Subhash Chandra Garg designated as Finance Secretary

NEW DELHI: Economic Affairs Secretary Subhash Chandra Garg was on Friday named as the Finance Secretary, according to a Personnel Ministry order. The Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi has approved designating Garg as the Finance Secretary, it said. Garg, 58, a 1983 batch IAS officer of Rajasthan cadre, has been working as the Secretary in Department of ... Read More »

Government Appoints Shaktikanta Das As RBI Governor: Here’s What Experts Say

Shaktikanta Das has been appointed as RBI’s new governor for a term of three years. Government named Shaktikanta Das, a seasoned financial bureaucrat, as the new governor of the Reserve Bank of India (RBI) on Tuesday, replacing Urjit Patel, whose abrupt resignation roiled financial markets. Das held key positions both under the ruling Bharatiya Janata Party and the previous Congress-led ... Read More »

Facebook Fixes Bug That Marked Some Posts as Spam

A day after some users complained about their Facebook posts being marked as spam, Facebook on Saturday said it has fixed the bug that caused the problem. “We have fixed a bug that caused some posts to be incorrectly marked as spam. We’ve restored the posts that were affected and are very sorry this happened,” Facebook said in a tweet. Even journalist and ... Read More »

Arun Jaitley resumes charge of finance and corporate affairs ministries, as directed by President Ram Nath Kovind

President Ram Nath Kovind reassigned the portfolios of Finance and Corporate Affairs to Union minister Arun Jaitley on Thursday. A press statement released from the Rashtrapati Bhavan said that the President, “advised by the Prime Minister” and has directed that the portfolios be assigned to the minister after his hiatus of three months. Jaitley (65), underwent a renal transplant operation at the All India ... Read More »

IIMs face fresh threat to autonomy as HRD ministry seeks more control

HRD minister Prakash Javadekar. The HRD ministry is deliberating whether the government should have a say on the appointment of an IIM chairman. Photo: Pradeep Gaur/Mint New Delhi: The government is framing rules to partially control how the Indian Institutes of Management (IIMs) function to curb potential misuse of the powers accorded to the board of the elite B-schools under the ... Read More »

Xiaomi Said to Target as Much as $6.1 Billion in Honk Kong IPO

Chinese smartphone maker Xiaomi Corp is planning to raise up to $6.1 billion (roughly Rs. 41,500 crores) from a Hong Kong IPO launching this week, people with knowledge of the matter said, in what will be one of the biggest tech floats globally of recent years. Xiaomi, which also makes Internet-connected devices, plans to sell about 2.18 billion shares including about 65 ... Read More »