India News & Trends

The Revanth government awarded Allu Arjun the Gaddar award months after he was arrested in the Pushpa 2 stampede case.

The Revanth government awarded Allu Arjun the Gaddar award months after he was arrested in the Pushpa 2 stampede case.

In relation to a case involving the death of a lady in a stampede at Hyderabad's Sandhya theater during the premiere of his film Pushpa 2, Arjun was taken into custody last December.Arjun will formally receive the first "Best Leading Actor" award at a later time for his role in the highly successful sequel Pushpa 2: The Rule, which brought in an estimated Rs 1,800 crore at the box office worldwide.Arjun's prize comes months after he was temporarily detained and arrested by Telangana police, who blamed him and others for the stampede that occurred on December 4 at the film's premiere at the Sandhya theater in this city. In the midst of controversy surrounding the death of 39-year-old M. Revathi in the stampede and the severe injuries sustained by her 9-year-old son, the arrest was announced on December 13. On the eve of the release, Arjun went to the renowned Sandhya theater to support his admirers, and Revathi's family of four attended to see the Pushpa-2 premiere event. As the opposition BRS and BJP denounced "the arrest of a national award winner," particularly the way it was executed, the police action took a political turn. In an X post at the time, Telangana BJP politician and Union Minister of State (MoS) for Home Affairs Bandi Sanjay wrote, "...lifting national award-winning actor Allu Arjun straight out of his bedroom without even giving him time to change is a disgraceful act of mismanagement and disrespect."The police action took a political turn when the opposition BRS and BJP condemned "the arrest of a national award winner," especially the manner in which it was carried out. Union Minister of State (MoS) for Home Affairs and Telangana BJP politician Bandi Sanjay remarked in an X post at the time, "...lifting national award-winning actor Allu Arjun straight out of his bedroom without even giving him time to change is a disgraceful act of mismanagement and disrespect."  

Published 31 May 2025 08:00 PM

In a High Court case, Adman Sandeep Goyal wants the government to control surrogate advertisements.

In a High Court case, Adman Sandeep Goyal wants the government to control surrogate advertisements.

In order to stop surrogate advertising, Sandeep Goyal has petitioned the Punjab and Haryana High Court for a government-led oversight agency. He contends that deceptive advertising of things that are prohibited, such as alcohol and tobacco, cannot be addressed by the self-regulation that is in place at the moment. By acknowledging the issue and sending letters to the appropriate authorities, the court has signaled the start of an important legal discussion over advertising control.The nation is experiencing a health catastrophe as a result of young people developing early alcohol and tobacco addictions. According to the petition, "it is argued that the commercials, which feature well-known celebrities to promote their product, not only encourage the use of alcohol and tobacco but also validate their use through the glamorous representation of these products. "The petition highlights how ineffectual the present self-regulatory frameworks—such as the Advertising Standards Council of India's (ASCI)—are at preventing deceptive advertising. Goyal demands a stronger regulatory framework run by the government to monitor advertising material.Goyal argues that current redressal procedures are not quick to offset the immediate effects of these advertisements, which continue to reach sizable audiences before any kind of regulation is implemented. Additionally, he cites Supreme Court and high court rulings advocating for more stringent regulatory monitoring in the advertising industry.  

Published 31 May 2025 07:43 PM

Neelam Kothari Soni, Masaba Gupta, Ratna Pathak Shah, and Rohan Joshi are also featured in the movie.

Neelam Kothari Soni, Masaba Gupta, Ratna Pathak Shah, and Rohan Joshi are also featured in the movie.

Neelam Kothari Soni, Masaba Gupta, Ratna Pathak Shah, and Rohan Joshi are also featured in the movie. For the impending End of Reason Sale (EORS), Myntra has released their newest ad, which features a gorgeous cast and a humorous twist.The story, which is set in a stylized living room, centers on a fictitious intervention that Johar's friends conduct, during which they first chastise him for using coupons to purchase. As each of them is ultimately influenced by the sale's offerings, the scenario swiftly becomes comical. With EORS scheduled to begin on May 31, the movie centers on Myntra's claims of the "Lowest Price Guaranteed" and cashback incentives."With each edition of EORS, our goal is not just to deliver unmatched value but to redefine how India experiences fashion," stated Kejal Parekh, Associate Director, Marketing, Myntra, while describing the intentions of the campaign. By bringing together well-known individuals in an entertaining and unusual atmosphere that reflects how our customers interact with fashion today, we wanted to achieve something genuinely novel for the 22nd edition.  

Published 27 May 2025 08:55 PM

Day 3 of Goafest 2025 ignites discussions on bravery, inventiveness, and the storytelling potential of AI.

Day 3 of Goafest 2025 ignites discussions on bravery, inventiveness, and the storytelling potential of AI.

As the curtains opened on Day 3 of Goafest 2025, the atmosphere was electric, promising another day of creativity, innovation, inspiration, and information exchange. Under the theme IGNITE HUNGAMA, Mahindra Auto & Mahindra Electric Origin SUVs, in collaboration with Bingo!, kicked off the day with an incredible performance by Indian playback artist Javed Ali.Youri Guerassimov, Chief Creative Officer and CEO of Marcel France, gave a keynote talk on "Creativity That Dares to Disrupt" to the audience following the riveting performance. YouTube used the theme IGNITE BRAVERY to deliver the keynote.Using daring initiatives such as Volvo's safety innovation and Nike's Colin Kaepernick ad, he demonstrated how businesses stand out when they exhibit boldness, whether it be strategic, activist, or designers. Real effect frequently comes from simplicity and intent, as demonstrated by Marcel's "Inglorious Fruits and Vegetables," which turned an in-store concept into a movement, and McDonald's simple billboard. Guerassimov came to the conclusion that bravery is an attitude rather than a financial plan. "Being a little uncomfortable" in advertising is frequently a sign that you are headed in the correct direction. He asserted that remorse endures much longer than fear.  

Published 23 May 2025 08:10 PM

N Venu is appointed Managing Director of Hitachi India.

N Venu is appointed Managing Director of Hitachi India.

According to Hitachi India, N Venu will take over as the company's new Managing Director (MD) on June 2, 2025. This significant change in leadership comes when Bharat Kaushal was promoted to Executive Chairman of Hitachi India, effective April 1, 2025.According to Hitachi India, N Venu will take over as the company's new Managing Director (MD) on June 2, 2025. This significant change in leadership comes when Bharat Kaushal was promoted to Executive Chairman of Hitachi India, effective April 1, 2025.The advancement of Bharat Kaushal Hitachi India's first Indian MD was Bharat Kaushal. He has now been elevated to Hitachi India's Executive Chairman position. He works for Hitachi Ltd. as a corporate officer as well. His guidance has been crucial to Hitachi's expansion in India. N Venu's Present Positions N Venu currently occupies significant positions inside the organization. He serves as both the region head for Hitachi Energy in South Asia and the managing director and CEO of Hitachi Energy India. He will assume the additional duty of serving as MD of Hitachi India starting in June 2025.Put Growth and Innovation First In his capacity as MD, N Venu will support Hitachi's growth in India. His objective is to back Hitachi's new management strategy, "Inspire 2027," which emphasizes innovation and growth via digital technology.  In order to increase value for customers, he would also try to unite the approximately 28 Hitachi group entities in India. The Vision of Hitachi for India India is a crucial business destination for Hitachi. The business is expanding in sectors like energy, digital services, railroads, financial inclusion, healthcare, and education. Venu's hiring demonstrates Hitachi's strong commitment to making India a significant component of its worldwide business, according to Bharat Kaushal.Venu's History and Accomplishments N Venu has worked for nearly 40 years. Since 2019, he has served as Hitachi Energy's leader in India, accelerating the company's expansion. In 2024–2025, he also held the position of Chairman of the Confederation of Indian Industry (CII) Karnataka Chapter. Venu attended NIT Warangal to study electrical engineering. He also attended the Indian School of Business (ISB) in Hyderabad, IIM Ahmedabad, and IMD in Switzerland to study management.  

Published 31 May 2025 08:01 PM

Karnataka Soaps & Detergents Limited (KSDL) has named Tamannaah Bhatia as a brand ambassador.

Karnataka Soaps & Detergents Limited (KSDL) has named Tamannaah Bhatia as a brand ambassador.

Actress Tamannaah Bhatia has been appointed as the brand ambassador for Karnataka Soaps & Detergents Limited (KSDL), a well-known state-owned enterprise, for a two-year term. The goal of this program is to increase KSDL's market reach in India and abroad while also increasing its visibility among younger consumers.Renowned actress Tamannaah Bhatia has been named the two-year brand ambassador for Karnataka Soaps & Detergents Limited (KSDL), a century-old state-owned company. This calculated action seeks to increase KSDL's appeal and exposure among younger consumers while broadening its national and international reach. On May 22, 2025, Karnataka's Large and Medium Industries Minister M.B. Patil made the news, emphasizing Tamannaah's widespread appeal and robust online presence throughout India. As KSDL starts a strategic transition to increase brand value, penetrate new markets, and connect with a younger, wider audience, this appointment comes at a critical juncture. With more than 28 million followers on social media and widespread popularity throughout India, Tamannaah is a perfect fit to embody KSDL's fusion of tradition and modern appeal. The action demonstrates KSDL's intention to use celebrity endorsements as a component of its larger marketing and growth plan.  

Published 27 May 2025 09:05 PM

The Manipur High Court's Chief Justice is Justice K. Somashekar.

The Manipur High Court's Chief Justice is Justice K. Somashekar.

The President of India has chosen Justice K. Somashekar, a former member of the Karnataka High Court, as the Chief Justice of the Manipur High Court. This ruling reflects the Supreme Court collegium's recommendation and comes after Justice D. Krishnakumar's planned retirement.The appointment of Justice Kempaiah Somashekar, a Karnataka High Court judge, as the new Chief Justice of the Manipur High Court is a noteworthy legal move. Chief Justice D. Krishnakumar will retire on May 21, 2025, and this appointment comes after his retirement. More than thirty years of judicial experience and legal service throughout Karnataka are brought to the table by Justice Somashekar. Only a few days after a Supreme Court collegium headed by Chief Justice of India B.R. Gavai endorsed his name, Justice K. Somashekar's promotion to Chief Justice of Manipur High Court was formally announced on May 20, 2025. The appointment and recommendation cover the void left by Chief Justice D. Krishnakumar's retirement.He added, "The President of India, after consulting with the Chief Justice of India, is pleased to appoint Justice Kempaiah Somashekar, Judge of the Karnataka High Court, as Chief Justice of the Manipur High Court in exercise of the power conferred by the Constitution of India." The appointment was made a few days after a three-member collegium led by Chief Justice B.R. Gavai recommended it due to incumbent Chief Justice D. Krishnakumar's May 21 retirement. In December of last year, Justice Krishnakumar was named chief justice of the High Court.  

Published 22 May 2025 04:29 PM

In a bureaucratic reorganization, Sanjeev Ranjan was appointed road transport secretary.

In a bureaucratic reorganization, Sanjeev Ranjan was appointed road transport secretary.

New Delhi: According to a personnel ministry order, senior IAS official Sanjeev Ranjan has been appointed secretary, Ministry of Road Transport and Highways (MoRTH), as part of a top-level bureaucratic reorganization carried out by the federal government. Ranjan is currently the chairman of the National Highways Authority of India (NHAI) and was a Tripura-bred IAS officer in 1985. He has been designated as a MoRTH officer on special duty.According to the decision, Yudhvir Singh Malik will be superannuated by the end of this month, and Ranjan will assume the position of MoRTH secretary on April 1, 2019. Ranjan will be replaced as the new head of the NHAI by Nagendra Nath Sinha. The National Highways and Infrastructure Development Corporation's managing director is N.N. Sinha. He will also continue to be in charge of this position.Rakesh Srivastava, who is scheduled to superannuate on March 31, will be replaced as secretary of the Ministry of Women and Child Development by Rabindra Panwar. Until Srivastava retires, Panwar, a special secretary and financial adviser in the Ministry of Home Affairs, will serve as OSD in the Ministry of Women and Child Development. Panwar will be replaced at the Home Ministry as special secretary and financial adviser by Bhupendra Singh, chairman of the National Authority for Chemical Weapons Convention.Anant Kumar Singh, who retires at the end of this month, will be replaced as secretary of the Department of Land Resources by senior bureaucrat Ruolkhumlein Buhril. Buhril is the secretary of the Home Ministry's Inter State Council Secretariat. He will assume the position of OSD at the Ministry of Rural Development's Department of Land Resources.The National Archives of India's director general will be P. Venkata Ramesh Babu, a senior IAS officer. Babu now serves as Rural Electrification Corporation Ltd.'s chairman and managing director. Rajni Sekhri Sibal, who is now an additional secretary in the Home Ministry, will serve as the secretary of the Ministry of Agriculture and Farmers Welfare's Department of Fisheries. The Medical Council of India has nominated Rakesh Kumar Vats as its secretary general. He currently serves as the Ministry of Health and Family Welfare's supplementary secretary and financial adviser.Vats will be replaced by Dharmendra S. Gangwar as the Ministry of Health and Family Welfare's additional secretary and financial adviser. Gangwar holds the same position in the Ministry of Culture. Braj Raj Sharma, a Jammu and Kashmir cadre IAS official, will serve as secretary of the Home Ministry's Department of Border Management. He works in the same department as the special secretary.  

Published 21 May 2025 05:32 PM

Box Office Early Update: Housefull 5 Nears ₹175 Crore Mark, Set to Overtake Raid 2

Box Office Early Update: Housefull 5 Nears ₹175 Crore Mark, Set to Overtake Raid 2

Akshay Kumar's Housefull 5 continues its steady performance at the box office. On its second Tuesday, the film benefited from discounted ticket prices — a strategy repeated by the makers to draw weekday audiences — resulting in a moderate increase in collections. According to early estimates, the film earned between ₹4 crore and ₹4.5 crore on day 12, marking a growth of 5–18% from Monday’s ₹3.8 crore. With these numbers, the film's total domestic collection is now expected to be in the range of ₹170.49 crore to ₹170.99 crore. At this pace, Housefull 5 is likely to surpass the lifetime earnings of Raid 2 (₹177.83 crore) within the next two days, positioning it as the second highest-grossing Bollywood film of 2025.   Housefull5 Directed by Tarun Mansukhani, the film has shown consistent performance since its release, and all eyes are now on whether it can maintain momentum heading into its third week.

Published 18 Jun 2025 07:48 AM

The Revanth government awarded Allu Arjun the Gaddar award months after he was arrested in the Pushpa 2 stampede case.

The Revanth government awarded Allu Arjun the Gaddar award months after he was arrested in the Pushpa 2 stampede case.

In relation to a case involving the death of a lady in a stampede at Hyderabad's Sandhya theater during the premiere of his film Pushpa 2, Arjun was taken into custody last December.Arjun will formally receive the first "Best Leading Actor" award at a later time for his role in the highly successful sequel Pushpa 2: The Rule, which brought in an estimated Rs 1,800 crore at the box office worldwide.Arjun's prize comes months after he was temporarily detained and arrested by Telangana police, who blamed him and others for the stampede that occurred on December 4 at the film's premiere at the Sandhya theater in this city. In the midst of controversy surrounding the death of 39-year-old M. Revathi in the stampede and the severe injuries sustained by her 9-year-old son, the arrest was announced on December 13. On the eve of the release, Arjun went to the renowned Sandhya theater to support his admirers, and Revathi's family of four attended to see the Pushpa-2 premiere event. As the opposition BRS and BJP denounced "the arrest of a national award winner," particularly the way it was executed, the police action took a political turn. In an X post at the time, Telangana BJP politician and Union Minister of State (MoS) for Home Affairs Bandi Sanjay wrote, "...lifting national award-winning actor Allu Arjun straight out of his bedroom without even giving him time to change is a disgraceful act of mismanagement and disrespect."The police action took a political turn when the opposition BRS and BJP condemned "the arrest of a national award winner," especially the manner in which it was carried out. Union Minister of State (MoS) for Home Affairs and Telangana BJP politician Bandi Sanjay remarked in an X post at the time, "...lifting national award-winning actor Allu Arjun straight out of his bedroom without even giving him time to change is a disgraceful act of mismanagement and disrespect."  

Published 31 May 2025 08:00 PM

PM Modi declares WAVES 2025 to be a worldwide celebration of creativity at the ideal moment to

PM Modi declares WAVES 2025 to be a worldwide celebration of creativity at the ideal moment to "create in India, create for the world."

At the WAVES summit on Thursday, May 1, 2025, Prime Minister Narendra Modi emphasized "creative responsibility," stating that we must protect the next generation from notions that are anti-human. He stated that as the world is searching for fresh approaches to storytelling, this is the ideal moment to "create in India, create for the world."At the Jio World Convention Centre in Mumbai, the Prime Minister opened the World Audio Visual and Entertainment Summit (WAVES) 2025, describing it as a transformative platform that brings together global innovators, storytellers, producers, and policymakers. Speaking in Mumbai at the @WAVESummitIndia. It showcases India's artistic prowess on a worldwide scale. This link: https://t.co/U4WQ4Ujv8q — May 1, 2025, Narendra Modi (@narendramodi)"Today, artists, innovators, investors, and policy makers from more than 100 nations have gathered under one roof," Mr. Modi said in a keynote speech to a crowded auditorium of international delegates from as many as 30 countries. We are establishing the groundwork for a worldwide talent and innovation ecosystem. Every artist and creative has access to WAVES, which is such a global platform.  

Published 27 May 2025 09:00 PM

At Cannes 2025, Aishwarya Rai Bachchan makes a stunning return, and admirers repost a message from ten years ago about Abhishek Bachchan's wife.

At Cannes 2025, Aishwarya Rai Bachchan makes a stunning return, and admirers repost a message from ten years ago about Abhishek Bachchan's wife.

Reports of Abhishek Bachchan and Aishwarya Rai's purported split date back to last year. But when she made her debut at Cannes 2025, showing off her sindoor, she responded to critics in an appropriate manner. Aishwarya Rai Bachchan once again stole the show at the 2025 Cannes Film Festival with an exquisite couture ensemble. Fans recalled a sentimental moment when images of her stunning appearance went viral on the internet: a tweet from her husband, Abhishek Bachchan, ten years prior, praising her beauty on the Cannes red carpet. The retro gave it a little moreFans were so enthralled with her appearance that they dug up Abhishek's May 21, 2014 tweet. He tweeted, "Nearly 52 hours without sleep!" after witnessing Aishwarya in a stunning gold Roberto Cavalli gown at the time. The Mrs. appears looking like this after closing her eyes! Okay, now keep your eyes wide open!Reminding people of Abhishek's love and admiration for Aishwarya, the old tweet went viral very fast. Fans responded warmly and nostalgically, applauding not only her style but also the enduring allure of Bollywood's most adored pair. This year, Aishwarya wore a unique gown named "Heiress of Clam," which was created by Gaurav Gupta. The dress blended a cosmic motif with aspects of Indian culture. It had flowing forms and was embellished with gold, silver, charcoal, and black hues, all of which sparkled with small glass crystals that brilliantly reflected the light.

Published 23 May 2025 08:17 PM

The NIFTY50 hovers above 22,800, the SENSEX jumps 1,131 points, and the whole market shines as well.

The NIFTY50 hovers above 22,800, the SENSEX jumps 1,131 points, and the whole market shines as well.

The NIFTY50 and SENSEX both ended the day at their one-month high. For the first time since February 21, 2025, the 50-share NIFTY 50 index surpassed the 22,800 level. Additionally, the BSE SENSEX leveled off above 75,000.Tuesday, March 18, saw a 1.5% increase in the Indian stock market due to strong buying in the financial and metals sectors and outperformance by the overall market. The encouraging global cues also improved market sentiment. The NIFTY50 and SENSEX both ended the day at their one-month high. For the first time since February 21, 2025, the 50-share NIFTY 50 index surpassed the 22,800 level. Additionally, the BSE SENSEX leveled off above 75,000. The NSE's NIFTY50 index closed 325.55 points, or 1.45%, higher at the 22,834.30 level, while the S&P BSE SENSEX closed at 75,301.26, up 1,131.31 points, or 1.53%. Out of the 3,016 equities that were traded on the NSE, 2,288 scrips rose, indicating that the market attitude continued in favor of bulls. At the end of the day, the smallcap and midcap indices both saw gains of nearly 2.8%. On Tuesday, all sectoral measures ended the day higher.Investors are also anticipating updates about tariffs and the US Fed's interest rate decision.  

Published 18 Mar 2025 06:09 PM

How have portfolio managers performed in terms of returns when comparing mutual funds and PMS?

How have portfolio managers performed in terms of returns when comparing mutual funds and PMS?

Current Market News Live Updates for Today: Watch the market wrap-up for today! Follow the fluctuations of the Sensex and Nifty 50, as well as the top winners and losers. See which sectors drove the growth (or drop) and how the US and Asian markets performed. Summary: For up-to-date information on your favorite businesses, follow Mint's market blog. This blog provides you with up-to-date information about global markets and Dalal Street.Late September 2024 saw the top of the Indian equity market, with many large-, mid-, and small-cap companies reaching all-time highs. But ever since, the market has been in a gloomy mood as investor morale has been affected by headwinds including high valuations, a slowdown in profitability, uncertainties around international trade, etc. As of February 21, 2025, the BSE Sensex has down 12.2%, the BSE Midcap has fallen 18.6%, and the BSE Smallcap index has fallen 20.5% from its peak.Based on 5-month returns, NAV decreases of 4–26% have been recorded for equity mutual funds across all categories as a result of the market's severe downturn.  

Published 01 Mar 2025 07:41 PM

Highlights of the Budget and Economic Survey: As the budget session starts, FM Nirmala Sitharaman presents the Indian economy report.

Highlights of the Budget and Economic Survey: As the budget session starts, FM Nirmala Sitharaman presents the Indian economy report.

Highlights of the Budget and Economic Survey: On January 31, Union Finance Minister Nirmala Sitharaman will deliver the Economic Survey, which examines the Indian economy, governmental policies, and prospects for the future. It discusses socioeconomic problems including poverty and education as well as macroeconomic performance.Highlights of the Budget and Economic Survey: On January 31, Union Finance Minister Nirmala Sitharaman will deliver the Economic Survey to Parliament, which will include a thorough examination of the Indian economy with an emphasis on a few important areas. Economic Survey: What Is It? The Indian economy's performance, governmental policies, and prospects for the next fiscal year are all summarized in the Economic Survey. It is separated into two sections: Part A examines economic performance, focusing on fiscal trends and macroeconomic statistics, while Part B discusses socioeconomic concerns like poverty, education, climate change, and the prospects for GDP growth, inflation, and trade.The Economic Survey is created by whom? The Department of Economic Affairs' economic section, led by Chief Economic Advisor (CEA) V Anantha Nageswaran, prepares the Economic Survey. The Economic Survey will be presented by whom? One day prior to the budget speech, on January 31, Union Finance Minister Nirmala Sitharaman will deliver the Economic Survey to the Parliament.  

Published 31 Jan 2025 10:22 PM

Highlights of the Manappuram Finance share price: Manappuram Finance closed at ₹193.8 today, up 5.64% from ₹183.45 yesterday.

Highlights of the Manappuram Finance share price: Manappuram Finance closed at ₹193.8 today, up 5.64% from ₹183.45 yesterday.

Highlights of the Manappuram Finance Share Price: Manappuram Finance opened at ₹180.75 on the most recent trading day and ended the day marginally lower at ₹179.85. During the session, the stock hit a high of 186.25 and a low of 180.75. At a 52-week high of ₹230.25 and a low of ₹138.40, the firm has a market capitalization of ₹15,505.84 crore. 175,677 shares were traded on the BSE during the day.Lower open interest in Manappuram Finance and a higher futures price indicate that the current positive trend is waning and that the stock may top out here or begin a reversal in the days ahead. Live Updates for Manappuram Finance Share Price: The share price of Manappuram Finance ended the day at ₹193.8, which was 5.64% higher than its previous closing price. Important resistances to keep an eye on for the upcoming trading session are 198.03, 202.56, and 210.12. Key support levels, however, were located at 185.94, 178.38, and 173.85.Manappuram Finance Live Updates: The share price of Manappuram Finance is currently moving between the important support and resistance levels of ₹185.94 and ₹198.03 on a daily basis, with a current price of ₹193.8. We might anticipate another bearish action if it breaks over the ₹185.94 support level. However, there will be a bullish reaction if the price crosses 198.03.  

Published 17 Jan 2025 05:01 PM

To accelerate development, PM Modi calls on states to cooperate with the center.

To accelerate development, PM Modi calls on states to cooperate with the center.

Punjab laments "step motherly treatment," T.N. demands a larger portion of Central tax income, and the PM encourages States to create world-class tourism destinations and incorporate women into the workforce at the Niti Aayog Governing Council meeting.Some States, including Tamil Nadu and Punjab, complained to the Center while others offered proposals to accelerate their growth, despite Prime Minister Narendra Modi's call for the States to unite with the Center to accelerate national development.Prime Minister Narendra Modi made a strong case for cooperative federalism on Saturday, emphasizing the value of coordinated action between the federal government and the states. He said that no goal is impossible when India works as "Team India." The Prime Minister, who chaired the 10th meeting of Niti Aayog's Governing Council, emphasized the importance of accelerating development efforts in order to achieve a "Viksit Bharat" by 2047. The purpose of the gathering, which had as its topic "Viksit Rajya for Viksit Bharat@2047," was to synchronize national and state developmental goals. "Every Indian aspires to Viksit Bharat. Bharat will be Viksit once all the states are Viksit. Prime Minister Modi stated, "This is what its 140 crore citizens want."The chief ministers of every state, lieutenant governors of Union Territories, and a number of Union ministers make up the Governing Council, the highest authority within Niti Aayog. The Prime Minister promoted a bottom-up approach to development while serving as the council's head. "Our goal should be to make every state, city, Nagar Palika, and hamlet viksit. We won't have to wait till 2047 to achieve Viksit Bharat if we continue along these lines," he continued.He suggested that every state choose and create at least one internationally renowned tourism destination with all the amenities and infrastructure of today. "One State: One Worldwide Location." The Prime Minister pointed out that it will also result in the growth of nearby cities as tourism destinations.He called for an emphasis on creating "future-ready cities" with development driven by growth, innovation, and sustainability, acknowledging the rapid rate of urbanization in India. In addition, the Prime Minister emphasized the significance of boosting women's employment. He stated that in order for them to be politely included into the labor, rules and procedures must be created.  

Published 28 May 2025 07:55 PM

Why the Madhya Pradesh Congress has targeted Shivraj Chouhan's stronghold in order to implement changes

Why the Madhya Pradesh Congress has targeted Shivraj Chouhan's stronghold in order to implement changes

Beginning with the district of Vidisha, the Madhya Pradesh Congress has begun what it describes as its most comprehensive organizational reorganization exercise in decades. In order to restore the party's grassroots presence following a string of election setbacks in the state, the plan creates a new level of panchayat and ward-level committees.This new organizational model has chosen Vidisha as a test project, and if it works, it will be used in all 52 Madhya Pradesh districts. This is part of the state Congress's larger proposal to declare 2025 a year of "organizational renaissance."One and a half years have passed after the Congress' disastrous performance in the 2023 state Assembly elections, in which it only managed to get 66 of 230 seats. With 163 seats, the BJP won a resounding majority and was able to hold onto power for another term. Following this, the Congress was overwhelmingly defeated in the state's 2024 Lok Sabha elections, losing  29 seats—including the Vidisha seat—at the hands of the BJP.  

Published 27 May 2025 09:06 PM

Lower bond purchase amounts are accepted by RBI in the first FY26 OMO auction.

Lower bond purchase amounts are accepted by RBI in the first FY26 OMO auction.

Mumbai: Despite market participants' attempts to sell assets worth twice the publicized offer on the table, the Reserve Bank of India (RBI) accepted a lower-than-notified sum to buy bonds during its open market operations on Monday. This most likely means that the central bank is content with the liquidity as it stands right now.At this OMO, the RBI received bids totaling ₹19,203 crore, which was less than the ₹25,000 crore notified amount. Bids of ₹50,369 crore were received by RBI. The RBI has accepted a smaller amount in this first FY26 OMO auction. The actions taken by the RBI have improved system liquidity. The auction on Monday included government notes with maturities in 2029, 2032, 2033, 2034, and 2036. On Monday, the 10-year benchmark yield ended the day at 6.24%. "For the semi-liquid 20, the auction cut-off prices were nearly in line with market levels."It seems that the majority of HTM stock that might be sold in OMOs has either hit or is close to a limit. "Most banks are selective and don't have excess," stated Ritesh Bhusari, joint general manager of South Indian Bank.  

Published 20 May 2025 05:10 PM

Exclusive: As the BJP seeks caste balance in the AIADMK alliance, Annamalai may resign as TN chairman.

Exclusive: As the BJP seeks caste balance in the AIADMK alliance, Annamalai may resign as TN chairman.

"Delhi sees a bright future for him," the youthful Annamalai, whose assertive position on issues has given the BJP publicity in Tamil Nadu, if not political success thus far, was informed.As coalition negotiations between the parties pick up steam, K Annamalai, who is regarded as a major factor in the 2023 split between the AIADMK and BJP, may resign as head of the BJP Tamil Nadu. However, according to BJP sources, caste equations will be the reason rather than "punishment." The BJP does not want a Gounder to represent both the party and the AIADMK in the 2026 state elections if the parties run together. Edappadi K. Palaniswami, the leader of the AIADMK, shares Annamalai's heritage as a member of the powerful backward community and the Gounder-dominated western Kongu region. According to BJP insiders, the first official moves for a reconciliation between the BJP and AIADMK were taken when Annamalai met with Union Home Minister Amit Shah in Delhi shortly after Shah's meeting with Palaniswami."Delhi sees a bright future for him," the youthful Annamalai, whose combative approach to issues has given the BJP visibility in Tamil Nadu, if not political success thus far, was told. The leadership responded by saying that Annamalai was expected to trust the party and adhere to its strategy.It is thought that Annamalai declared her total allegiance to the party. According to a top BJP leader, "he expressed that he has no regrets about his dedication to the party and is even willing to work as a mere cadre." "Annamalai remains a key figure in the party's long-term strategy for Tamil Nadu, whether or not he leaves his position as state president," stated another politician. It is unclear if he will assume a national function or a different state job.  

Published 02 May 2025 09:50 PM

Is the 'Caveman Skincare Routine' a hoax in terms of hygiene?

Is the 'Caveman Skincare Routine' a hoax in terms of hygiene?

I'm a regular TikTok scroller (the four hours of screen time a day speaks for itself), and I've seen a ton of beauty films, from popular trends to amazing hacks that would put a Victorian kid in a coma. The caveman skincare method, however, may just take the biscuit—or perhaps I should say water—as the most talked-about topic on SkinTok lately.The 'Caveman Skincare Method' is the skincare regimen that TikTok creator Tia Zakher has lately described in a number of videos on the platform. "After 8 years of picking and over-exfoliating, I'm healing my skin barrier by doing the one thing I never tried before... absolutely nothing," Tia explains in a video that has received 9.7 million views. In other words, she has stopped using water in addition to all skincare products (I'm referring about moisturizer, exfoliant, and cleanser). Tia responded to Cosmopolitan UK's inquiry on why she chose to utilize the caveman skincare method by saying, "I decided to do it because I wanted to try a different approach and I do think it's working for me."  

Published 28 May 2025 07:49 PM

Doctors express an urgent warning that reels are now causing eye issues after

Doctors express an urgent warning that reels are now causing eye issues after "brain rot."

All age groups, but mainly children and young adults, are experiencing an increase in eye diseases as a result of excessive screen use, especially binge-watching reels on social media sites.Following worries about the effect of short-form films on mental health, medical professionals are now sounding the alarm about a brand-new, rapidly developing issue: "reel-induced eye damage."Across all age groups, excessive screen time—especially binge-watching reels on social media sites like Facebook, YouTube, Instagram, and TikTok—is contributing to an increase in eye diseases, particularly in children and young adults. Leading ophthalmologists discussed this at the Asia Pacific Academy of Ophthalmology and All India Ophthalmological Society's ongoing Joint Meeting, which took place Tuesday at the Yashobhoomi-India International Convention and Expo Centre.Dr. Lalit Verma, president of the Asia Pacific Academy of Ophthalmology (APAO) 2025 Congress, spoke sternly about the "silent epidemic of digital eye strain" brought on by prolonged screen time. "We are seeing a sharp increase in cases of dry eye syndrome, myopia progression, eye strain, and even early-onset squinting, especially in children who spend hours watching reels," he stated. "We recently had a student who came in complaining of blurred vision and ongoing eye irritation. Upon inspection, we discovered that his eyes were not shedding enough tears as a result of spending too much time at home viewing reels on a screen. He was given eye drops right away, and the doctor told him to observe the 20-20-20 rule, which calls for looking at anything 20 feet away for 20 seconds every 20 minutes.The president of the All India Ophthalmological Society and chairman of the organizing committee, Dr. Harbansh Lal, described the gravity of the situation.  

Published 17 Apr 2025 08:59 PM

According to Instagram, rubbing raw ginger can help clear up acne. Are dermatologists in agreement?

According to Instagram, rubbing raw ginger can help clear up acne. Are dermatologists in agreement?

Another day, another Instagram beauty tip that has gone viral. You surely have a feed full of skincare tips on how to treat acne if you have it, like I do. Social media is using natural components from your kitchen, such as flax seeds for "botox" and raw garlic. This time, raw ginger is the focus, as influencers assert that applying it topically can help eradicate acne. It seems like a simple solution to acne, doesn't it?Innumerable videos of Indian skinfluencers with radiant skin can be found online these days, stating that the key isn't pricey facials but rather applying raw ginger directly to acne outbreaks to treat them right away. But is this spicy suggestion really supported by any science?To find out if this pattern is reliable, let's take a closer look and get some professional guidance.What are the opinions of experts? First, let's get this out of the way. Anything is not necessarily beneficial to your skin just because it is natural. particularly when used undiluted and raw. Senior consultant dermatologist Dr. Gulhima Arora of Mehektagul Dermaclinic states that ginger has only been indirectly shown to be effective in treating acne in scientific studies. It shouldn't be regarded as the primary or first line of treatment. She emphasizes that acne is a complex condition and that not all of its triggers can be addressed by a single spice.Dermatologist and Kaya Limited medical advisor Dr. Saranya B concurs, saying that using raw ginger to the face is not a clinically validated method of treating acne. Despite its antibacterial and anti-inflammatory qualities, direct application may irritate skin. According to Skin Smart Solutions' founder and principal dermatologist, Dr. Bindu Sthalekar, "there is no scientific proof that applying raw ginger topically treats acne." Theoretically, it might be beneficial, but only if taken in conjunction with other drugs and with good tolerance.  

Published 17 Apr 2025 08:57 PM

Doctors express an urgent warning that reels are now causing eye issues after

Doctors express an urgent warning that reels are now causing eye issues after "brain rot."

All age groups, but mainly children and young adults, are experiencing an increase in eye diseases as a result of excessive screen use, especially binge-watching reels on social media sites.Following worries about the effect of short-form films on mental health, medical professionals are now sounding the alarm about a brand-new, rapidly developing issue: "reel-induced eye damage."Across all age groups, excessive screen time—especially binge-watching reels on social media sites like Facebook, YouTube, Instagram, and TikTok—is contributing to an increase in eye diseases, particularly in children and young adults. Leading ophthalmologists discussed this at the Asia Pacific Academy of Ophthalmology and All India Ophthalmological Society's ongoing Joint Meeting, which took place Tuesday at the Yashobhoomi-India International Convention and Expo Centre.Dr. Lalit Verma, president of the Asia Pacific Academy of Ophthalmology (APAO) 2025 Congress, spoke sternly about the "silent epidemic of digital eye strain" brought on by prolonged screen time. "We are seeing a sharp increase in cases of dry eye syndrome, myopia progression, eye strain, and even early-onset squinting, especially in children who spend hours watching reels," he stated. "We recently had a student who came in complaining of blurred vision and ongoing eye irritation. Upon inspection, we discovered that his eyes were not shedding enough tears as a result of spending too much time at home viewing reels on a screen. He was given eye drops right away, and the doctor told him to observe the 20-20-20 rule, which calls for looking at anything 20 feet away for 20 seconds every 20 minutes.The president of the All India Ophthalmological Society and chairman of the organizing committee, Dr. Harbansh Lal, described the gravity of the situation.  

Published 01 Apr 2025 09:40 PM

Axar Patel leads DC to a decisive victory over Rishabh Pant's LSG on a night that contrasts for the captains.

Axar Patel leads DC to a decisive victory over Rishabh Pant's LSG on a night that contrasts for the captains.

Returning to Lucknow for the first time since his unsatisfactory dismissal from the team, KL Rahul ended the game with a spectacular six to go undefeated in a run-chase with a 42-ball 57.On a night full of stories at Lucknow's Ekana Stadium, the Delhi Capitals won by 8 wickets in a 160-run chase, solidifying their status as this season's title contenders. KL Rahul, who is making his first appearance in Lucknow after his unsatisfactory dismissal from the team, ended the game with a spectacular six to go undefeated in a run chase with a 42-ball 57. In the twelfth over of their respective innings, LSG and DC both lost their second wicket. Axar Patel entered when a composed Abishek Porel collapsed. At this point, DC was only under a little pressure to take a few wickets, but it might have grown complicated because new batters take time to get comfortable. With two sixes over the midwicket zone, his favorite hit against spin, Axar took out Ravi Bishnoi in the very next over after Avesh Khan had dismissed him after four dot balls.In the following over, facing Avesh once more after being outscored by a few deliveries, he decided to take a chance and hit a four to try to clear the fielder at mid-off. The most impressive stroke came from Shardul Thakur, who took up a not-so-short ball with the weight still on his backfoot and sent it over long on for a six.  

Published 23 Apr 2025 08:56 PM

Nitish Rana on RR not selecting him for Super Over against DC despite 51 off 28:

Nitish Rana on RR not selecting him for Super Over against DC despite 51 off 28: "One person never takes the call."

Despite hitting 51 off 28 balls against the Delhi Capitals, Nitish Rana was left out of the Super Over lineup as the Rajasthan Royals entered with Hetmyer and Riyan Parag.Nitish Rana remained in the middle until the 18th over of the chase after smashing 51 off 28 balls. At the Arun Jaitely Stadium in New Delhi on Wednesday, the Rajasthan Royals sent neither batsman to bat despite Yashasvi Jaiswal's 51 off 37 balls in the Super Over against the Delhi Capitals. Eyes were rolling when Shimron Hetmyer and Riyan Parag came out to bat in the Super Over. Rana wasn't even on the list of the three batters for the Super Over, but Jaiswal was chosen to bat following a wicket fall.RR's choice proved to be a poor one as Mitchell Starc of DC cramped the Hetmyer for space with yorkers and the reverse swing, allowing him to begin the Super Over with a dot ball. The Australian bowler was hit for four after missing his mark on the next delivery, but he recovered with another low full toss in the third ball. A single was taken by Hetmyer.Starc's low full toss was hit by Riyan Parag over third man for a boundary, sometimes known as a no-ball. After it appeared that RR would easily reach 15 with three balls left, the game took yet another sharp turn. RR was bowled out for just 11 as Parag and Jaiswal were ran out in the following ball.KL Rahul and Tristian Stubbs smash two sixes in the first three balls of Sandeep Sharma's Super Over to give DC a historic victory, so the total was insufficient. Following the game, Nitish Rana stated that the decision to send Riyan Parag and Shimron Hetmyer instead of him for the Super Over was made by the RR management. Rana said he didn't have an alternative response, adding that if Hetmyer had hit a couple of sixes in the Super Over, the questions would have been different."The call is answered by management, not a single individual. Along with two other senior players and coaches, the captain is present. You wouldn't be asking this question if Shimron Hetmyer had hit two sixes. I'll respond with the same response. I have no other response. Every choice we made was the right one. Everyone knows that Hetmyer is our finisher. During the press conference, Rana stated, "He has previously delivered."  

Published 17 Apr 2025 09:05 PM

Who Won CSK vs. RR, Match 11 in Yesterday's IPL 2025 Match?

Who Won CSK vs. RR, Match 11 in Yesterday's IPL 2025 Match?

The outcome of yesterday's IPL 2024 match between CSK and RR: Watch the most recent IPL action as CSK and RR square off in the 2025 season's first game. Get all the match information and updates here, along with the results of the encounter.The highly anticipated Match 11 between the Chennai Super Kings (CSK) and Rajasthan Royals (RR) in the Indian Premier League (IPL) 2025 season was played at the Barsapara Cricket Stadium in Guwahati.Chennai Super Kings (CSK) lost against Rajasthan Royals (RR) by a margin of six runs. First to bowl, RR amassed 182 runs. Despite pursuing the objective, CSK ended up at 176 for 6 in 20 overs. The Rajasthan Royals (RR) defeated the Chennai Super Kings (CSK) by 6 runs in the March 30 IPL 2025 match. After two losses earlier in the season, this victory was RR's first. In contrast, CSK lost this game for the second time in a row.Highlights of the IPL 2025 match between the Rajasthan Royals and Chennai Super Kings: Wanindu Hasaranga takes four wickets to help the Royals overcome the Super Kings by six runs.  

Published 31 Mar 2025 08:23 PM

India's bold strategy aids in a quick T20 reconstruction

India's bold strategy aids in a quick T20 reconstruction

The world champions are creating an environment where players perform well without worrying about keeping their spots in the squad or taking wickets.Kolkata: Although it's early, the process and outcomes give hope that India would successfully defend the T20 World Cup at home the following year. Despite the pessimism caused by the Test and ODI transition issues, India's T20 trajectory stands out thanks to series victories against South Africa, Bangladesh, Sri Lanka, Zimbabwe, and now England. Even more so when one considers that Kuldeep Yadav, Shubman Gill, Jasprit Bumrah, Rishabh Pant, and Yashasvi Jaiswal have not been parachuted in.This is most likely a greater accomplishment. However, they have approached it virtually undetected. No culture of stars. Verify. No set order for batting. Verify. Just a group of young, talented, and incredibly self-assured cricket players going about their business without worrying about career curves. By the way, all IPL linchpins.Captain Suryakumar Yadav acknowledges his lack of quality as he is left off the Champions Trophy roster. Abhishek Sharma thinks a ball is there to be struck, hence he doesn't count returns. As long as Tilak Varma is at the crease, the second Twenty20 match in Chennai demonstrated that no equation is too difficult. And the fact that India lost to 12/3 and then 79/5 at Pune on Friday, yet still managed to score 181, demonstrated that the previous game's disaster chasing in Rajkot was really a fluke. The realization that not everything can be managed lies at the core of this long-term upsurge. Earlier this week, Sitanshu Kotak, India's new batting coach, said it. "To achieve a score of 200 or 225, and if you are  

Published 04 Feb 2025 04:28 PM

Muslim leaders in the Karnataka Congress resign as rage over the Dakshina Kannada killings intensifies

Muslim leaders in the Karnataka Congress resign as rage over the Dakshina Kannada killings intensifies

In further trouble for the beleaguered Karnataka Congress, a number of Muslim leaders resigned from their positions on Thursday, including KPCC general secretary M S Mohammed and minority wing president K K Shahul Hameed of Dakshina Kannada district. This was due to an increase in communal violence in Dakshina Kannada.In the most recent incidence, a friend and coworker were gravely hurt when Abdul Rahim was hacked to death in broad daylight on Tuesday in Bantwal, close to Mangalaru. The Home Ministry, led by G Parameshwara, has been accused by the Congress employees who resigned of not doing enough to stop intercommunal violence in the area.In protest of the government's alleged inability to stop the string of "communal murders" in the district and its marginalization of community leaders, a number of Muslim Congress leaders in Dakshina Kannada, ranging from booth-level to state-level, announced their resignations from their party positions on Thursday. Under the direction of M.S. Mohammed, general secretary of the Karnataka Pradesh Congress Committee, the statement was made at an emergency gathering of party workers held at Shadi Mahal in Bolara here. The leaders were compelled to announce their resignations by irate employees as they debated waiting a few more days for the government's response.Shahul Hameed, the president of the Congress's District Minority branch, informed party members that Chief Minister Siddaramaiah had contacted him to caution local leaders against making any snap choices. According to Mr. Hameed, the CM urged him to wait a little while longer and informed him that the matter had also reached the party high command.  

Published 31 May 2025 08:03 PM

To accelerate development, PM Modi calls on states to cooperate with the center.

To accelerate development, PM Modi calls on states to cooperate with the center.

Punjab laments "step motherly treatment," T.N. demands a larger portion of Central tax income, and the PM encourages States to create world-class tourism destinations and incorporate women into the workforce at the Niti Aayog Governing Council meeting.Some States, including Tamil Nadu and Punjab, complained to the Center while others offered proposals to accelerate their growth, despite Prime Minister Narendra Modi's call for the States to unite with the Center to accelerate national development.Prime Minister Narendra Modi made a strong case for cooperative federalism on Saturday, emphasizing the value of coordinated action between the federal government and the states. He said that no goal is impossible when India works as "Team India." The Prime Minister, who chaired the 10th meeting of Niti Aayog's Governing Council, emphasized the importance of accelerating development efforts in order to achieve a "Viksit Bharat" by 2047. The purpose of the gathering, which had as its topic "Viksit Rajya for Viksit Bharat@2047," was to synchronize national and state developmental goals. "Every Indian aspires to Viksit Bharat. Bharat will be Viksit once all the states are Viksit. Prime Minister Modi stated, "This is what its 140 crore citizens want."The chief ministers of every state, lieutenant governors of Union Territories, and a number of Union ministers make up the Governing Council, the highest authority within Niti Aayog. The Prime Minister promoted a bottom-up approach to development while serving as the council's head. "Our goal should be to make every state, city, Nagar Palika, and hamlet viksit. We won't have to wait till 2047 to achieve Viksit Bharat if we continue along these lines," he continued.He suggested that every state choose and create at least one internationally renowned tourism destination with all the amenities and infrastructure of today. "One State: One Worldwide Location." The Prime Minister pointed out that it will also result in the growth of nearby cities as tourism destinations.He called for an emphasis on creating "future-ready cities" with development driven by growth, innovation, and sustainability, acknowledging the rapid rate of urbanization in India. In addition, the Prime Minister emphasized the significance of boosting women's employment. He stated that in order for them to be politely included into the labor, rules and procedures must be created.  

Published 28 May 2025 07:55 PM

Why the Madhya Pradesh Congress has targeted Shivraj Chouhan's stronghold in order to implement changes

Why the Madhya Pradesh Congress has targeted Shivraj Chouhan's stronghold in order to implement changes

Beginning with the district of Vidisha, the Madhya Pradesh Congress has begun what it describes as its most comprehensive organizational reorganization exercise in decades. In order to restore the party's grassroots presence following a string of election setbacks in the state, the plan creates a new level of panchayat and ward-level committees.This new organizational model has chosen Vidisha as a test project, and if it works, it will be used in all 52 Madhya Pradesh districts. This is part of the state Congress's larger proposal to declare 2025 a year of "organizational renaissance."One and a half years have passed after the Congress' disastrous performance in the 2023 state Assembly elections, in which it only managed to get 66 of 230 seats. With 163 seats, the BJP won a resounding majority and was able to hold onto power for another term. Following this, the Congress was overwhelmingly defeated in the state's 2024 Lok Sabha elections, losing  29 seats—including the Vidisha seat—at the hands of the BJP.  

Published 27 May 2025 09:06 PM

What is wrong with Gujarat's Congress absent leadership, frontal groups for demoralized employees, and  links to the BJP

What is wrong with Gujarat's Congress absent leadership, frontal groups for demoralized employees, and links to the BJP

Congress activists in Gujarat were "demoralized" by the national party leadership's lack of participation in state unit matters and the alleged collusion of certain state party leaders with the BJP. In their reports to the party high command, the observers from the All India Congress Committee (AICC), who were sent to supervise the selection of the presidents of the District Congress Committees (DCCs) throughout Gujarat, have raised some of these issues. A five-member panel consisting of an AICC observer and four Gujarat Pradesh Congress Committee (GPCC) observers was assigned to supervise the changes and guarantee the smooth operation of the DCCs in all 41 districts of Gujarat, a state where the party has been out of power for 30 years, as part of the AICC leadership's pilot project, which is reportedly the brainchild of Leader of the Opposition in the Lok Sabha Rahul Gandhi.  

Published 21 May 2025 05:41 PM

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India roils market with new crackdowns on booming IPO financing, gold

India roils market with new crackdowns on booming IPO financing, gold

It’s been another heart-stopping week for financial firms caught up in India’s widening crackdown on the sector.Regulators are imposing new restrictions that may curb lending and put a damper on the booming market for initial public offerings, in order to keep risks in check. Shadow banks have become the latest target, after the Reserve Bank of India this week limited lending by firms including JM Financial Products Ltd. The measures come after the banking regulator barred an affiliate of fintech giant Paytm from accepting fresh deposits, while the capital markets watchdog urged mutual fund sellers to safeguard investors against excessive froth in small-cap stocks. More such moves may be on the cards as the RBI completes inspections of some major non-banks engaged in equity markets financing, according to people familiar with the regulator’s thinking. The central bank had set up a separate team of professionals for bank supervision, which has become more detailed and comprehensive, said the people, who asked not to be identified discussing private matters. “We expect more such steps in other parts of the credit funnel,” said Pranav Bhavsar of India Independent Insight, who publishes on Smartkarma. He said the recent crackdown and hit to some shadow bank stocks “is here to stay and possibly intensify.”More such moves may be on the cards as the RBI completes inspections of some major non-banks engaged in equity markets financing, according to people familiar with the regulator’s thinking. The central bank had set up a separate team of professionals for bank supervision, which has become more detailed and comprehensive, said the people, who asked not to be identified discussing private matters. “We expect more such steps in other parts of the credit funnel,” said Pranav Bhavsar of India Independent Insight, who publishes on Smartkarma. He said the recent crackdown and hit to some shadow bank stocks “is here to stay and possibly intensify.”In January, the Securities and Exchange Board of India Chairwoman Madhabi Puri Buch spoke about her concerns. “We are unhappy about some of the malpractices that we see,” she said, referring to mule accounts and inflation of IPO application numbers. “We now have the data and we will act.” Banks, shadow lenders and fintech players are all feeling the heat. JM Financial’s shares tumbled as much as 20% on Wednesday — the limit imposed by the exchange — and the biggest intraday slide in four years, dragging down other financial stocks. Shares in IIFL Finance Ltd., another shadow lender facing RBI scrutiny, plunged by the 20% limit in each of the last two sessions. Both stocks have since recovered some losses. Paytm is still down more than 40% since its banking affiliate was barred from adding deposits after people familiar with the matter said it failed to properly vet hundreds of thousands of clients.“More instances of such actions could create an overhang” on shadow bank stocks, Morgan Stanley analysts wrote in a report.  

Published 07 Mar 2024 08:49 PM

Tech Giants Drag Down US Stocks After Torrid Rally: Markets Wrap

Tech Giants Drag Down US Stocks After Torrid Rally: Markets Wrap

(Bloomberg) -- Stocks came under pressure as a trio of tech heavyweights slid, with traders wading through mixed economic data in the run-up to Jerome Powell’s testimony to Congress.Equities lost traction after a rally that has spurred concern about sky-high valuations — especially in megacaps, leaving the group vulnerable to big moves in the face of bad news. Apple Inc.’s iPhone woes in China deepened, while Advanced Micro Devices Inc. hit a US roadblock in selling an artificial-intelligence chip to the Asian nation. And Tesla Inc. extended its rout as China shipments slumped.Bullish positioning in US technology stocks is at the highest in three years — raising the risk of a pullback, according to Citigroup Inc.’s Chris Montagu. Long positioning in Nasdaq 100 futures is “extremely extended," he said. “Trees don’t grow to the sky," said Kenny Polcari at SlateStone Wealth. “What is starting to concern some investors is whether or not some of these tech companies that have gotten stretched can in fact live up to the ‘lofty valuations’ that investors have placed on them." Wall Street also weighed data showing the US service sector cooled — even as orders and business activity picked up. Caution prevailed, with Powell heading to Capitol Hill for his semiannual testimony before Congress, where the Federal Reserve chief is expected to reiterate the lack of urgency to cut rates. The S&P 500 fell below 5,100, while the Nasdaq 100 dropped almost 2%. All megacaps fell, with Tesla extending a two-day slide to 11% and Apple dropping to the lowest since October. Treasury 10-year yields slid six basis points to 4.15%. In the latest sign of market exuberance, Bitcoin hit a record before erasing gains. Gold also reached an all-time high. Never miss an episode. Follow the Big Take podcast on iHeart, Apple Podcasts, Spotify or wherever you listen. Read the transcript.The “Magnificent Seven" — comprising Apple, Microsoft Corp., Nvidia Inc., Amazon.com Inc., Meta Platforms Inc., Alphabet Inc. and Tesla — have powered the S&P 500 to all-time peaks this year, partly fueled by the AI frenzy. The rally has left strategists scrambling to lift their 2024 targets — while raising questions on whether tech is seeing a boom or a bubble.To JPMorgan Chase & Co.’s Marko Kolanovic, the dramatic rally in US equities and Bitcoin signals accumulating froth — conditions that typically precede a bubble when asset prices rise at an unsustainable pace. Meanwhile, David Kostin at Goldman Sachs Group Inc. is among those who argue big tech’s lofty valuations are supported by fundamentals.The so-called Magnificent Seven saw its average earnings per share rise 55% in the fourth quarter compared to a year ago, according to data compiled by Bloomberg. Most of that group helped drive the Nasdaq 100 to its fourth consecutive monthly gain. “The AI craze is a modern gold rush, and the tech ‘picks and shovels companies’ are seeing earnings explode as companies buy chips and cloud space to fuel the boom," said Tom Essaye, founder of The Sevens Report. “But if AI doesn’t result in increased profitability for the rest of the S&P 500 over the coming years, then demand for AI chips will evaporate as will AI-related cloud demand." With generative AI set to be the growth theme of the decade, UBS’s Chief Investment Office continues to believe that US tech stocks should make up a substantial portion of investors’ equity allocations. However, the firm says investors with excessive exposure should consider broadening tech exposure to capture the next growth opportunities.  

Published 07 Mar 2024 08:48 PM

Bonus shares, stock split: Capri Global Capital shares to trade ex-split and ex-bonus in stock market today

Bonus shares, stock split: Capri Global Capital shares to trade ex-split and ex-bonus in stock market today

Varun Beverages Ltd, PepsiCo's largest franchise bottler, on Monday reported a consolidated net profit of ₹132 crore for the fourth quarter ended December 2023, up 77% year-on-year, helped by growth in revenue and improved profit margins. The Board of Directors of the company has declared a stock split and a bonus issue for the eligible shareholders. The company has declared a stock split in the ratio of 1: 2 that means from one ₹2 per equity share into two equity shares of ₹1 each, and a bonus issue in the ratio of 1:1.The record date to ascertain the eligibility of shareholders for the stock split and the bonus issue has been fixed on March 05. In a stock exchange filing, Capri Global Capital Limited said: “The Board of directors at its meeting held on January 27 has approved sub-division of one equity share of the face value of Rs. 2 each fully paid-up into two equity shares of the face value of Re. 1 each fully paid-up." “Company board also approved 1:1 bonus issue i.e one new fully paid-up bonus equity share of face value of Re.1 each for every one fully paid-up equity share of face value of Re.1," the filing said. Shares of Capri Global Capital Limited will trade ex-split and ex-bonus on Tuesday.The company board also approved issuance of non-convertible debentures (NCDs) through public issue/private placement for an amount up to ₹500 crore in tranches, said the filing.For the Q3 FY24, the company had reported net profit of ₹68 crore, up 81.7 per cent Y-o-Y from the net profit of ₹37.4 crore in Q3 FY23. Its asset under management (AUM) rose 54.4 per cent to ₹13,362.1 crore in Q3 FY24 from ₹8,654.5 crore in Q3 FY23.Capri Global Capital Limited is a diversified NBFC with a presence across diverse and high growth segments such as MSME, affordable housing, construction finance segments, and car loan distribution.  

Published 07 Mar 2024 08:47 PM

Nifty 50, Sensex today: What to expect from Indian stock market in trade on March 4

Nifty 50, Sensex today: What to expect from Indian stock market in trade on March 4

The Indian stock market indices, Sensex and Nifty 50, are expected to open flat amid positive global cues.The trends on Gift Nifty indicate a flat-to-positive start for the Indian benchmark index. The Gift Nifty was trading around 22,510 level. The domestic equity indices hit record highs on March 2 and ended the day marginally higher.The Sensex gained 60.80 points, or 0.08%, to close at 73,806.15, while the Nifty 50 settled 39.65 points, or 0.18%, higher at 22,378.40. “The Nifty is resuming its bullish momentum after a period of two months of consolidation. 22,500 is an immediate target level, while 22,750 is the next target level. Banknifty is gaining momentum and is likely to outperform from here. 47,500 is an immediate hurdle; above this, we can expect a move towards 48,000 / 48,800 levels," said  Santosh Meena, Head of Research, Swastika Investmart Ltd.The Nifty 50 index surpassed the 22,400 mark for the first time on March 2. The index, however, closed marginally higher at 22,378. “The Nifty began on a positive note but struggled to withstand the selling pressure at higher levels, ultimately closing at the day's lowest point. Although the overall sentiment remains positive, the index must surpass the 22,400 mark to trigger a new rally. A decisive breakthrough above 22,400 could propel the index towards 22,600," said Rupak De, Senior Technical Analyst, LKP Securities.On the downside, support is situated at 22,250 - 22,200, he added. “Bank Nifty remained range-bound throughout the day with low participation. Nevertheless, the overall sentiment remains positive as long as it stays above 42,000. A decisive breakthrough above 47,500 could potentially propel the index towards 48,200," De said.According to him, support is identified at 47,000 on the downside.The Bank Nifty rose 11 points to close at 47,298 on Saturday.  

Published 07 Mar 2024 08:46 PM

Stocks to Watch: Reliance Industries, JSW Steel, Zee, Trent, Vodafone Idea

Stocks to Watch: Reliance Industries, JSW Steel, Zee, Trent, Vodafone Idea

The consolidation of Walt Disney's and Reliance's media assets in India, valued at $8.5 billion, could trigger rigorous antitrust examination due to their combined market influence. Legal experts are raising red flags about the merged entity's robust cricket broadcasting rights portfolio and its potential effects on advertisers. The merger would position Disney-Reliance as India's top television entity with 120 channels, significantly ahead of its nearest competitor, Zee, which has 50 channels. Analysts predict that the majority stakeholder, Mukesh Ambani's Reliance, will command a 35% share of India's television viewership. India's anti-trust watchdog is expected to scrutinize the overall television landscape closely, with particular attention to cricket rights, as they assess the market share and power of the newly formed entity. The Sajjan Jindal-led steelmaker announced on Friday that it intends to invest €143 million (approximately ₹1,282 crore) to aid the revival of its steel mill in Piombino, Italy. The company announced in a press release that its subsidiary, JSW Steel Italy SRL, has signed a Memorandum of Understanding (MoU) with Italian authorities for the site’s relaunch, adding that the investment will be utilized to double its current rail production capacity from 300,000 tonnes to 600,000 tonnes per annum. Sajjan Jindal, chairman of JSW Group, said, “The €143 million investment will modernize the rail mill at Piombino."Culver Max, the Indian arm of Sony Group, has contested the validity of Zee Entertainment's appeal for merger enforcement at the National Company Law Tribunal (NCLT) in Mumbai. The NCLT is set to consider Sony's appeal and other related applications in the Sony-Zee merger case on March 12, reported CNBC-TV18. Following Sony's appeal, the Mumbai division of the NCLT has served a notice to Zee, requesting a reply. This event coincides with reports that the Sony Group has officially retracted its documents submitted to the NCLT for the proposed business merger with Zee Entertainment Enterprises Ltd (ZEEL).The telecom company’s plan to secure an additional ₹25,000 crore through debt financing is not likely to induce financial strain, as the company has significantly reduced its bank exposure by nearly ₹35,000 crore over the past two-and-a-half years and enhanced its operational performance, senior company sources said. The comany is relying on this funding to address its 4G coverage shortfalls and curb customer attrition. Vi’s current bank debt has fallen below ₹4,500 crore, which is believed to have prompted lenders to contemplate providing new loans to the telecom company.Tata group company Trent's fashion-focussed department store Westside has plans to inaugurate 20 to 30 new stores in the upcoming fiscal year and enhance its e-commerce operations over the next year, according to a senior executive at the retailer. “Our store expansion continues at the same pace. We plan to open an equal number of stores next year as we did this year. We aim to expand our footprint in northern and northeastern India," said Shailina Parti, the Chief Operating Officer at Westside, Trent Ltd. By the end of the December quarter of FY24, the retailer had increased its reach to 227 stores across 89 cities.  

Published 07 Mar 2024 08:45 PM

EV charger stock Servotech Power Systems near life-time high after receiving IOC order. Details here

EV charger stock Servotech Power Systems near life-time high after receiving IOC order. Details here

 EV charging solution company Servotech Power Systems Ltd has been hitting headlines for receiving orders from oil PSUs these days. After receiving around ₹102 crore order from Hindustan Petroleum Ltd (HPCL), the energy company has today declared that it has received another order worth ₹111 crore from the Indian Oil Corporation (IOC) Limited.  As the EV charger company shared this news in an exchange filing today, the shares of Servotech Power Systems Ltd attracted buying attention from investors. Servotech Power Systems shares ascended to an intraday high of ₹103 apiece on NSE, logging a nearly 3.50 percent rise in Friday's session. While ascending to this intraday high, the energy stock came close to its existing life-time high of ₹108.70 per share. Informing Indian stock market exchanges about the ₹111 crore IOC order, Servotech Power Systems Ltd said, "With reference to the captioned subject, we are enclosing herewith a Press Release with respect to “Company has bagged an order of 1400 DC fast EV chargers from Indian Oil Corporation Limited (IOCL) and other EV charger OEMs." In a press release attached to the exchange filing Servotech Power Systems Ltd said, “Servotech Power Systems Ltd has bagged an order of 1400 DC fast EV chargers from Indian Oil Corporation Limited (IOCL) and other EV charger OEMs. The total order is valued at 111 crores and involves two charger variants of 60 kW and 120 kW. The order secured by IOCL involves Servotech manufacturing, supplying and installing DC EV chargers nationwide, prioritizing deployment at Indian Oil petrol pumps and other said locations.""Additionally, Servotech will also manufacture and supply the rest of the chargers to EV charger OEMs. This move is seen as an important step as it will promote decarbonized mobility and cater to the evolving needs of the EV charging infrastructure," the EV charger company added. Shares of Servotech Power Systems Ltd had witnessed strong buying around a week ago when it declared an HPCL order worth ₹102 crore. The energy company had informed Indian exchanges about bagging a significant order for nearly 1500 DC fast EV chargers from Hindustan Petroleum Corporation Limited (HPCL) and other EV charger OEMs. Before HPCL, Servotech Power System Ltd had received 1800 DC EV chargers' orders from BPCL. The total number of EV charger orders from oil marketing companies and EV charger OEMs stands at 4700 units.  

Published 07 Mar 2024 08:44 PM

Potential for any re-rating delayed for Paytm, says UBS; still sees 25% upside in the stock – heres why

Potential for any re-rating delayed for Paytm, says UBS; still sees 25% upside in the stock – heres why

Shares of One 97 Communications (Paytm) have witnessed an almost 50 percent drop just in February as investor sentiment turned negative amid the RBI and Paytm Payments Bank Ltd (PPBL) saga.In a recent note, brokerage house UBS said it believes that any potential for a re-rating of Paytm based on profitability improvement has been delayed. It has retained a 'neutral' call on the stock and reduced its target price to ₹510 (from ₹650 earlier). The new target indicates an over 25 percent potential upside. "Paytm's share price has derated significantly post RBI regulatory action and the stock is trading at 1.5x EV to one-year forward consensus sales, nearly an 80 percent discount to its Indian internet peers. Our ₹510 price target implies a 2.4x EV to FY25E sales, which is still a 70 percent discount to Indian internet peers. We believe this is justified as Paytm's growth profile is now much weaker at an 8 percent expected revenue CAGR over FY24-26E, versus Indian peers at a much higher 27 percent. Additionally, Paytm's re-rating potential based on its profitability improvement is now also pushed out and the company's margin profile is much weaker than peers. Furthermore, the loss of investor confidence based on the regulatory action is unlikely to change in a hurry. We believe only sustained execution in the coming quarters can re-build investor confidence which would drive a re-rating," explained the brokerage. The RBI on January 31 directed PPBL to stop accepting deposits or top-ups in customer accounts, wallets, FASTags, and other instruments after February 29, citing large-scale non-compliance with regulations and supervisory concerns. In the latest update, the Reserve Bank of India clarified that non-Paytm Payments Bank Limited (PPBL) linked merchants (85 percent of the total) can continue to function as normal and gave a 15-day extension till 15th March for most PPBL-linked activities. RBI also informed that @paytm UPI handles can be migrated to banks after approval from NPCI. This implies key linkages between Paytm and PPBL will be transferred to other banks via Paytm and also clears the way for Paytm to function as third-party app provider (TPAP), similar to its competitors PhonePe and Google Pay, once NPCI provides approval for the same. Following RBI's latest update, the anticipated negative impacts on Paytm have been alleviated to a considerable extent. Paytm is poised to retain a significant portion of its customer and merchant base pending certain approvals from the National Payments Corporation of India (NPCI). However, UBS anticipates a churn of 15-20 percent in merchants, customers, and devices in Q4 compared to Q3 levels, accompanied by a steep decline of around 60 percent quarter-on-quarter in loan origination. Additionally, it foresees a challenging FY25 with a projected 2 percent revenue decline, attributed to the loss in the wallet business and gradual normalisation in payments and loan origination activities. To regain lost customers, Paytm is expected to escalate its marketing expenditure, leading to heightened EBITDA losses in FY25, consequently prompting adjustments in its EPS estimates.  

Published 07 Mar 2024 08:43 PM

Stock market selloff: Nifty forms Bearish Engulfing; 21,850 next?

Stock market selloff: Nifty forms Bearish Engulfing; 21,850 next?

Nifty on Wednesday could not sustain early gains and saw heavy selling, as it closed below the psychological mark of 22,000 for the time since February 15. The index formed a Bearish Engulfing pattern on the daily chart, which has a negative connotation.  The silver lining was the index somehow managed to settle above its 21-day EMA on a closing basis. If the index stays below 22,000 level, chances are it may revisit 19,850-800 level, analysts said.“The index dropped below the 22,000 mark, indicating a growing weakness. Nevertheless, it managed to close just above the 21EMA on the daily timeframe. Observing the daily chart, the index has been navigating within a rising channel. A decline below 21,950 could potentially trigger a correction towards 21,800 in the near term,” said Rupak De, Senior Technical Analyst at LKP Securities. For the day, the 50-pack index closed at 21,951.15, down 247.20 points or 1.11 per cent. A sustained Nifty trade above 21,950 might spur a recovery in the index towards 22,100, De added. With the Bearish Engulfing candle, Nifty has given up all the gains of the previous week, said Chandan Taparia of Motilal Oswal Securities. This analyst believes that were the index say below 22000, weakness could be seen towards 21,850, followed by 21,700 levels. Resistances are seen at 22,150 and 22,222 levels, he said.atin Gedia – Technical Research Analyst at Sharekhan said that the index has reached its 20-day moving average of 21,944. He said the broad range of 21,800-22,300 still has not been breached. "The daily as well as hourly momentum indicators have a negative crossover, which  is a sell signal. But prices are still in a range and, hence, a decisive breach below 21,875 i.e. the previous swing low is required to validate the change of trend. The Index is around the crucial support zone 21,900, which is likely to act as a make-or-break level from short term perspective," Gedia said.  

Published 07 Mar 2024 08:42 PM

Xiaomi 14 set to launch in India today: How to watch LIVESTREAM and everything expected

Xiaomi 14 set to launch in India today: How to watch LIVESTREAM and everything expected

Xiaomi enthusiasts are eagerly awaiting the launch of the much-anticipated Xiaomi 14 flagship series in India today, March 7. The Chinese tech giant is all set to unveil its latest offering in an exclusive event hosted in New Delhi, scheduled to commence at 6 pm IST. The Xiaomi 14 series, first revealed on a global stage during the Mobile World Congress (MWC) 2024, comprises three distinctive models: Xiaomi 14, Xiaomi 14 Pro, and Xiaomi 14 Ultra. With teasers flooding social media platforms in recent weeks, enthusiasts are poised to finally get a glimpse of the official specifications and design elements of the Xiaomi 14 series.Xiaomi enthusiasts can catch the Xiaomi 14 launch event live on the company's official YouTube channel, starting at 6 PM today, March 7. Among the highlights, the Xiaomi 14 is rumored to boast a luxurious 6.36-inch LTPO AMOLED display, featuring an impressive 120Hz refresh rate and a peak brightness of 3000nits. Xiaomi aficionados can expect a choice of three elegant color options: Jade Green, Black, and White. Under the hood, the Xiaomi 14 is anticipated to be powered by the cutting-edge 4nm Snapdragon 8 Gen 3 processor, complemented by a robust 12GB LPDDR5X RAM. The device is speculated to be available in two storage configurations: 256GB and 512GB. Photography enthusiasts are likely to be pleased with the triple-camera setup rumored for the Xiaomi 14, comprising a 50MP main camera, a 50MP telephoto camera, and a 50MP ultra-wide camera. Selfie aficionados can anticipate a high-resolution 32MP front camera. In terms of endurance, the Xiaomi 14 is expected to house a substantial 4610mAh battery, with support for a rapid 90W HyperCharge capability, ensuring lasting performance throughout the day. While the base version of the Xiaomi 14 is expected to debut in India today, reports suggest that the Xiaomi 14 Pro and Xiaomi 14 Ultra models may not make an appearance, mirroring the absence of their predecessors, the Xiaomi 13 Ultra, from last year's lineup.  

Published 07 Mar 2024 08:41 PM

OnePlus 13 might come with improved cameras, new design: All we know

OnePlus 13 might come with improved cameras, new design: All we know

It has been over three months since OnePlus launched its flagship phone, the OnePlus 12 in China. A month after that, the phones were launched globally in January this year. And now, rumours regarding the OnePlus 13 have already started surfacing. The upcoming OnePlus flagship could sport an entirely new design, as well as improved camera capabilities, as per recent leaks. Read on to know more about OnePlus 13 and how it is going to raise the bar for the brand.According to reliable leakster Digital Chat Station's post on Weibo, the OnePlus 13 might come with significant camera and design changes. While specifics remain rather unclear, the distinctive camera housing used in the OnePlus 12 is expected to undergo a transformation. The 50-megapixel main camera and the periscope camera, which had a 64-megapixel capacity and 3x optical zoom in the OnePlus 12, are reportedly under development. Digital Chat Station also hints at possible improvements, drawing attention to OnePlus being a subsidiary of Oppo, which boasts superior cameras in its Oppo Find X7 Ultra flagship. This includes a distinct 50-megapixel main sensor and a pair of 50-megapixel periscope cameras, one providing 6x optical zoom. The OnePlus 13 may inherit some of these advancements.Beyond cameras, the leaks suggest the OnePlus 13 might run on a Snapdragon 8 Gen 4 chipset, a predictable upgrade from the current Snapdragon 8 Gen 3. In addition to this, the anticipated December release of the smartphone could position it amongst the first smartphones featuring this high-end silicon. Additionally, the OnePlus 13 is rumored to retain a 2K screen and incorporate an ultrasonic fingerprint sensor for enhanced security, according to another leaker, Smart Pikachu. It is to be noted that all these details at this point are mere speculations. We will know more about the smartphone when the brand officially decides to spill the beans on what users can expect from their next flagship device.Recently, a tipster also shared details about possible specs of the upcoming OnePlus Nord 5 smartphone. While OnePlus is yet to confirm the OnePlus Nord 5 release, tipster Shishir suggested that the phone will share a camera setup with the pricier OnePlus 12R. If the leak holds true, the Nord 5 could inherit the 12R's impressive ultra-wide and macro sensors, coupled with the 1/1.56-inch Sony IMX 890 sensor for enhanced photography. According to the leak, the upcoming OnePlus Nord 5 could be fueled by a Qualcomm Snapdragon 7 Plus Gen 3 SoC, paired with up to 16GB of RAM. The device is also rumoured to sport a 6.74-inch 120Hz OLED display boasting 1.5K resolution. While resembling the OnePlus 12R's display, the Nord 5's LTPO panel promises industry-leading peak brightness. Expected to be a mid-range device under Rs 35,000, it may not match the 12R's pricing. Under the hood, the leak suggests a 5,500mAh battery for the OnePlus Nord 5, aligning with OnePlus's trend of offering similar battery capacities across models. The device is likely to feature a glass back and plastic frames.  

Published 07 Mar 2024 08:40 PM

Elon Musk loses world’s richest person title to Jeff Bezos

Elon Musk loses world’s richest person title to Jeff Bezos

Elon Musk is no longer the world's richest person. Musk lost his position, for the first time in nine months, to Jeff Bezos after shares in Tesla tumbled 7.2% on Monday. Musk now has a net worth of $197.7 billion; Bezos’ fortune is $200.3 billion.It’s the first time that Bezos, 60, the founder of Amazon.com Inc., has topped Bloomberg’s ranking of the richest people since 2021. The wealth gap between Musk, 52, and Bezos, which at one point was as wide as $142 billion, has been shrinking as Amazon and Tesla shares move in opposite directions. While both are among the so-called Magnificent Seven stocks that have propelled US equity markets, Amazon shares have more than doubled since late 2022 and are within striking distance of a record high. Tesla is down about 50% from its 2021 peak. Tesla shares fell on Monday after preliminary data showed shipments from its factory in Shanghai slumped to the lowest in more than a year. Amazon, meanwhile, is coming off its best online sales growth since early in the pandemic. Musk’s wealth could take a further hit after a Delaware judge struck down his $55 billion pay package at Tesla, where he’s chief executive. The decision took the side of an investor who’d challenged Musk’s compensation plan, which had been the largest in history.   

Published 07 Mar 2024 08:39 PM

Rajeev Chandrasekhar issues a 3-point clarification on directive that got AI firms worried

Rajeev Chandrasekhar issues a 3-point clarification on directive that got AI firms worried

"Process of seeking permission, labelling and consent based disclosure to user users about untested platforms is insurance policy to platforms who can otherwise be sued by consumers," Rajeev Chandrasekhar tweeted.The Centre on Monday clarified its directive for AI platforms to seek approvals before launching a product, saying the advisory did not apply to startups. The Centre's directive created ample confusion that all kinds of companies, including startups, need to have approvals before launching their AI platforms. Taking to X, Union Minister of State for Electronics and Information Technology Rajeev Chandrasekhar highlighted three important points to clarify the rule. Chandrasekhar said that the advisory is aimed at large and "significant platforms" and won't be applied to startups. He further said that the rules are aimed at untested AI platforms "from deploying on Indian internet". "Process of seeking permission, labelling and consent based disclosure to user users about untested platforms is insurance policy to platforms who can otherwise be sued by consumers," Rajeev Chandrasekhar tweeted. The Minister said that the safety and trust of "India's internet" is a shared and common goal for the central government, users and platforms.The central government issued the recent advisory on March 1, over two months after the ministry issued the first advisory in December last year under the new IT rules. The first one was aimed at social media platforms directing them to follow existing IT rules to tackle deepfake problems."We issued one more advisory, which is a continued one that advises intermediaries and platforms that use AI, to be very careful about deploying on the public internet in India and allowing access to consumers," the Union Minister told ANI. Rajeev Chandrasekhar said the second advisory was issued to ensure another case of Google Gemini AI tool that clearly showed a "violation in law by outputting unlawful content" was not repeated. He further said that the advisory would help platforms to be more "disciplined about taking ther AI models and platforms from the lab directly to the market".  

Published 07 Mar 2024 08:38 PM

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