Author: QH team
QH team
quatro hive
“Our partnership with DPIIT reinforces our commitment to fostering innovation in the manufacturing sector. We believe this partnership will play an important role in promoting self-reliance through domestic manufacturing and import substitution,” Shree Cement Managing Director Neeraj Akhoury said.DPIIT Director Sumeet Jarangal said, “This partnership between Shree Cement and DPIIT will lay the foundation for a brighter future for early stage manufacturing startups and is a strong step in making India a manufacturing hub in the cement sector.” The MoU aims to strengthen and support India’s manufacturing ecosystem by encouraging product startups, innovators, and entrepreneurs, the statement said.https://www.business-standard.com/industry/news/shree-cement-ties-up-with-dpiit-to-support-startups-in-manufacturing-sector-124100101070_1.html
India on Monday launched BharatGen, an initiative to make generative Al ayailable to citizens in different Indian languages, with Science and Technology Minister Jitendra Singh asserting that it was the world’s first State-funded project of its kind. Spearheaded by IIT Bombay under the National Mission on Interdisciplinary Cyber-Physical Systems (NM-ICPS), the initiative will create generative Al systems that can generate high-quality text and multimodal content in various Indian languages.The initiative was launched by Principal Scientific Advisor A K Sood, Department of Science and Technology Secretary Abhay Karandikar, Department of Telecommunications Secretary Neeraj Mittal among others.The S&T Minister has sent a…
A leading tech industry group on Tuesday called on G7 nations to harmonize cloud security certification across the world’s richest nations, in an effort to stoke cooperation and counter calls that data should stay within national borders. BSA also opposes that stance, instead arguing that cybersecurity agencies across friendly nations should find ways to cooperate.Industry group BSA The Software Alliance, which represents tech giants including Microsoft and IBM, argues that its initiative would reduce compliance burdens for cloud service providers while maintaining robust security standards.”We encourage governments to look at where their cloud requirements are effectively the same, but using different…
Newly reconstituted Monetary Policy Committee of the Reserve Bank of India with three new appointed external members will commence its maiden meeting on Monday.The outcome of the three-day meeting of the MPC would be revealed by MPC Chairman RBI Governor Shaktikanta Das on next Wednesday (October 9).It is widely anticipated that the MPC will keep interest rate unchanged despite change in composition of external members.This would be tenth time in a row when the Reserve Bank of India (RBI) will maintain status quo as far as policy rate is concerned. The MPC last revised interest rate in February 2023, when…
Shares of Policybazaar parent PB Fintech gained on October 1 as Jefferies issued a ‘buy’ call on the stock with a target price of Rs 1,800 per share, following management’s clarification regarding a planned investment of $100 million for acquiring a 20-35 percent stake in a new healthcare venture.PB Fintech’s liability will be limited to this initial investment, while the new entity is expected to generate its own resources, said Jefferies in a note. The final details and board approval are anticipated to take a few quarters.Analysts believe this investment clarification addresses concerns about PB Fintech’s balance sheet, ensuring it…
Private equity and venture capital firms saw median returns of 5x from fintech public listings over 5-6 years, with a 30% internal rate of return. Despite the attractive returns, caution is advised against over-investing in the lending sector within fintech, especially in developing economies like India.Private equity and venture capital firms made median returns of about 5x from fintech public listings after an average holding period of 5-6 years, according to a study by JM Financial and Beams Fintech Fund. The companies under study were PolicyBazaar, Paytm, Tracxn, Angel One, KFintech, CMS Info Systems and Newgen.The returns are broadly in line with industry expectations…