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<keyword id="21282723" type="General" weightage="100" keywordseo="satellite-communications" source="keywords">Satellite communications</keyword> is a "magic bullet" to cover dark unconnected areas, <keyword id="22764352" type="General" weightage="20" keywordseo="Bharti-Chairman" source="keywords">Bharti Chairman</keyword> <keyword id="20104229" type="General" weightage="20" keywordseo="Sunil-Mittal" source="keywords">Sunil Mittal</keyword> said on Monday, adding that players now have a great new opportunity to leverage satellite connectivity to cover <keyword id="20534956" type="General" weightage="20" keywordseo="remote-areas" source="keywords">remote areas</keyword> that have so far been left out. Speaking at the <keyword id="23624328" type="General" weightage="20" keywordseo="NDTV-World-Summit" source="keywords">NDTV World Summit</keyword>, Mittal said that nearly two billion people in the world are still not connected to the internet, and in the Indian context too there are areas -- large swathes of desert, forests, coastlines -- where neither mobile networks, not fibre is feasible. "For those areas you need satellite communications, and that, to my mind, offers now a great source of new opportunities for us, mobile operators, or <keyword id="20055601" type="General" weightage="20" keywordseo="telecom-operators" source="keywords">telecom operators</keyword>, to put that in a mix and start to cover areas which are still left behind," Mittal said. About five per cent of India's population sans <keyword id="19936241" type="General" weightage="20" keywordseo="internet-connectivity" source="keywords">internet connectivity</keyword> lives in 25 per cent of the area, he said, emphasising that satellite is the only solution for them. "India provides a very high quality signal to 95 per cent of its population, but there are still five per cent of people who do not get internet in the country, and they live in 25 per cent of the area of the country. So it's a very large area with a very small population, the only way to cover that is satellite," Mittal said. Mittal said that two ground stations in Mehsana (Gujarat) and in Pondicherry are in a state of preparedness and ready to start services. "The day government gives us the permission, there will not be a single square inch of this country which will not have a radio coverage. So you just need to raise your hand and be connected," he said. Mittal said he is of the view that satellite is truly a "magic bullet" to cover the dark areas, and noted that about 2 billion people in the world are still not connected to internet, including in advanced countries like the US. The telecom stalwart's comments assume significance as billionaire Elon Musk and Indian tycoons Mukesh Ambani and Mittal are locked in a standoff over satellite spectrum, and nuances of its allocation in India. While Ambani's <keyword id="19896911" type="General" weightage="20" keywordseo="Reliance-Jio" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Jio" meta.hostid="268" meta.entityid="Reliance Jio">Reliance Jio</keyword> has been vocal about the need to allocate such spectrum through an auction to give a level-playing field to legacy operators who buy airwaves and set up infrastructure like telecom towers, Mittal during India Mobile Congress held last week articulated the need for satellite companies harbouring any urban ambitions to buy spectrum as telecom companies do. Musk-led <keyword id="20034452" type="General" weightage="20" keywordseo="Starlink" source="keywords" meta.keywordsubtype="org" meta.entityname="Starlink" meta.hostid="268" meta.entityid="Starlink">Starlink</keyword> is demanding administrative allotment of licences in line with the global trend as it looks to tap into the world's fastest-growing mobile telephony and internet market. This has found some backing in Telecom Minister Jyotiraditya Scindia, who said recently that such airwaves will be given out through administrative allocation at a cost, but not auctioned.

Satellite 'magic bullet' to connect the unconnected; offers opportunity to cover areas left out: Sunil Mittal

<ul class="summary-list"><li>Bret Taylor joined OpenAI's board in November following Sam Altman's brief ouster as CEO.</li><li>Taylor told venture capitalist and podcaster Harry Stebbings that AI is in a bubble.</li></ul>The buzz surrounding AI may echo the exuberance and excesses of the dot-com bubble in the late 1990s, <a target="_blank" class="" href="https://www.businessinsider.com/history-of-openai-company-chatgpt-elon-musk-founded-2022-12">OpenAI</a> chairman <a target="_blank" class="" href="https://www.businessinsider.com/bret-taylor-resignation-salesforce-marc-benioff-showdown-2023-5">Bret Taylor</a> said in a podcast that aired on Wednesday.Taylor was speaking to venture capitalist Harry Stebbings on the latter's "The Twenty Minute VC" podcast when he was asked if AI is in a bubble. Taylor <a target="_blank" class="" href="https://www.businessinsider.com/openai-board-larry-summers-bret-taylor-adam-dangelo-sam-altman-2023-11">joined OpenAI's board</a> in November, shortly after <a target="_blank" class="" href="https://www.businessinsider.com/sam-altman-chatgpt-openai-ceo-career-net-worth-ycombinator-prepper-2023-1">Sam Altman</a> was <a target="_blank" class="" href="https://www.businessinsider.com/sam-altman-return-openai-ceo-2023-11">briefly ousted and reinstated</a> as CEO."I think we are in a bubble. But I think bubbles have different shapes, and there's a Mark Twain quote that history doesn't repeat itself, but it rhymes," Taylor told Stebbings."I think the AI bubble will rhyme with the dot-com bubble and I believe with the benefit of hindsight, most of the excess of the dot-com bubble might have been justified," Taylor added.Most of today's leading tech companies like Amazon and Google, Taylor said, were started during the dot-com bubble. "A huge percentage of the gains in the stock market over the past 30 years have more or less been these digital companies created in the dot-com bubble," Taylor said."And so, I haven't done the math on how much money was burned in that period, but I think that doesn't mean that the excitement around the impact of the internet on the economy was false," he added."I think the same thing is likely to happen in AI. We will look back and laugh at some of the excess, but I am confident we will have a brand-defining, likely trillion-dollar consumer company come out of this."Representatives for Taylor at OpenAI did not immediately respond to a request for comment from Business Insider sent outside regular business hours.Taylor, of course, is no stranger to the highs and lows of Silicon Valley.The Stanford graduate started his career at <a target="_blank" href="https://www.businessinsider.com/man-created-google-maps-facebooks-like-building-google-docs-microsoft-word-killer">Google</a> in 2003 before stints at <a target="_blank" href="https://www.businessinsider.com/facebook-like-button-creator-bret-taylor-building-ethical-products-2020-1">Facebook</a> and <a target="_blank" href="https://www.businessinsider.com/bret-taylor-leaves-salesforce-shocking-employees-and-marc-benioff-2022-11">Salesforce,</a> where he was CTO and co-CEO, respectively. Taylor was also the chair of Twitter's board before <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk">Elon Musk</a> <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-acquired-twitter-one-year-ago-and-has-struggled-to-remake-the-platform-2023-10">acquired the company</a> in October 2022.To be sure, the jury is still out on whether AI will live up to the hype surrounding it.In June, Goldman Sachs published a report suggesting that the <a target="_blank" class="" href="https://www.businessinsider.com/ai-return-investment-disappointing-goldman-sachs-report-2024-6">return on investment for AI might be disappointing</a>."AI technology is exceptionally expensive, and to justify those costs, the technology must be able to solve complex problems, which it isn't designed to do," Jim Covello, Goldman Sachs' head of global equity research, wrote in the report.But that hasn't stopped investors from pouring funds into leading AI players like Taylor's OpenAI.On Wednesday, the ChatGPT maker announced that it had raised $6.6 billion in new funding at a $157 billion post-money valuation.The company is now <a target="_blank" class="" href="https://www.businessinsider.com/openai-investors-latest-funding-round-2024-10">one of the most valuable startups</a> in the world, commanding a valuation on par with publicly traded companies like <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/uber-stock">Uber</a> and <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/t-stock">AT&amp;T</a>.And OpenAI isn't the only company riding the AI craze.In May, Elon Musk's AI startup xAI said it <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-xai-raised-6-billion-funding-vc-saudi-arabia-2024-5">raised $6 billion</a> for its Series B funding round. Musk said his company, which is <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-new-company-xai-website-2023-7">just over a year old</a>, had a pre-money valuation of $18 billion.

OpenAI's chairman says AI is in a bubble — but one that could be wildly lucrative

<keyword id="19930802" type="General" weightage="100" keywordseo="Jay-Shah" source="keywords">Jay Shah</keyword>, the current Secretary of the Board of Control for Cricket in India (BCCI), has been elected unopposed as the new <keyword id="19901179" type="General" weightage="20" keywordseo="International-Cricket-Council" source="keywords">International Cricket Council</keyword> (ICC) Chairman. Shah, who will officially take up the role on December 1, 2024, is set to make history as the youngest individual to ever lead the global governing body for cricket. "I am humbled by the nomination as the Chair of the International Cricket Council. I am committed to working closely with the ICC team and our member nations to further globalise cricket," Shah stated in a release issued by the ICC. In his statement, Jay Shah highlighted the goals he has planned to set for his tenure. “We stand at a critical juncture where it is increasingly important to balance the coexistence of multiple formats, promote the adoption of advanced technologies, and introduce our marquee events to new global markets. Our goal is to make cricket more inclusive and popular than ever before," he said. Jay Shah’s involvement in <keyword id="22941138" type="General" weightage="20" keywordseo="cricket-administration" source="keywords">cricket administration</keyword> spans over ten years. He previously served as joint secretary of the Gujarat Cricket Association before being elected unopposed as <keyword id="20593546" type="General" weightage="20" keywordseo="BCCI-Secretary" source="keywords">BCCI Secretary</keyword> in October 2019. Since 2021, he has also held the position of Chairperson of the Asian Cricket Council. The appointment of Shah as the <keyword id="22895734" type="General" weightage="20" keywordseo="ICC-chairman" source="keywords">ICC chairman</keyword> has sparked controversy due to his connections. His father, <keyword id="19899491" type="General" weightage="20" keywordseo="Amit-Shah" source="keywords">Amit Shah</keyword>, is India’s Home Minister and a close associate of Prime Minister Narendra Modi. Critics argue that this raises concerns about nepotism and the merging of cricket with politics in India. Shah's own rise within cricket administration in Gujarat, where his father previously held the role of president of the Gujarat Cricket Association, further fuels these concerns. It will be interesting to see how, under the chairmanship of Jay Shah, cricket grows on a higher level on the global pedestal.

Jay Shah elected unopposed as the new ICC chairman

The Maharashtra government has declared a day of mourning on Thursday (October 10) to honour the late <keyword id="19981455" type="General" weightage="100" keywordseo="Ratan-Tata" source="keywords">Ratan Tata</keyword>, a towering figure in Indian industry, who passed away on Wednesday night at the age of 86. Tata, celebrated for leading the <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword> to international acclaim, died at Breach Candy Hospital in Mumbai following a brief illness. In the early hours of Thursday morning, his remains were transported from the hospital to his Colaba residence, accompanied by a police escort. Several prominent figures, including Maharashtra Chief Minister <keyword id="19913631" type="General" weightage="20" keywordseo="Eknath-Shinde" source="keywords">Eknath Shinde</keyword>, Deputy Chief Minister Devendra Fadnavis, Education Minister Deepak Kesarkar, and industrialist Mukesh Ambani, visited the hospital upon learning of his passing. The Maharashtra Chief Minister’s Office confirmed that, as a mark of respect, the state flag would be flown at half-mast on Thursday, and all entertainment activities would be paused for the day. The public will have the opportunity to pay their respects to Ratan Tata at the National Centre for the Performing Arts (NCPA) in south Mumbai, where his body will lie in state from 10 am to 3:30 pm. Tata’s final rites are scheduled to be performed later on Thursday in Worli. Meanwhile, Maharashtra Chief Minister Eknath Shinde announced late Wednesday night that Ratan Tata will be accorded a state funeral. In a post on X, CM Shinde described Tata as a “unique blend of morality and entrepreneurship” and hailed him as a living legend who successfully led the Tata Group, a conglomerate with a 150-year legacy. “Ratan ji Tata’s mortal remains will be accorded a state funeral,” Shinde said as per a PTI report. Praising Tata’s legacy, Shinde said that the industrialist will remain a source of inspiration for future generations of entrepreneurs. He also recalled Tata’s unwavering strength during the 26/11 terror attacks, when the Tata Group’s Taj Hotel in Colaba was one of the primary targets of the 2008 tragedy. “His resoluteness during the 26/11 terror attack will always be remembered,” the Chief Minister added. Tata, born on 28 December 1937 in Mumbai, was the driving force behind the growth of the Tata Group from 1991 until his retirement in 2012. He was also known for his philanthropy, serving as Chairman of the <keyword id="20869864" type="General" weightage="20" keywordseo="Ratan-Tata-Trust" source="keywords" meta.keywordsubtype="org" meta.entityname="Ratan Tata Trust" meta.hostid="261" meta.entityid="Ratan Tata Trust">Ratan Tata Trust</keyword> and Dorabji Tata Trust, two of India’s largest private-sector philanthropic organisations. In 2008, he was honoured with the Padma Vibhushan, the country’s second-highest civilian award. (With PTI inputs)

Ratan Tata to be accorded state funeral, Maharashtra declares day of mourning to honour Tata Group chairman

The <keyword id="19924335" type="General" weightage="100" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword> is set to create a massive 5 lakh jobs in the manufacturing sector over the next five years, spanning industries such as <keyword id="20009962" type="General" weightage="20" keywordseo="semiconductors" source="keywords">semiconductors</keyword>, <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> (EVs), batteries, and precision manufacturing. Tata Sons Chairman, <keyword id="19981536" type="General" weightage="20" keywordseo="N-Chandrasekaran" source="keywords">N Chandrasekaran</keyword>, made this announcement on Tuesday, underlining the critical role manufacturing will play in India’s ambition to become a developed nation. Speaking at a symposium organised by the Indian Foundation for Quality Management, Chandrasekaran highlighted that India’s progress depends heavily on its ability to generate <keyword id="22266334" type="General" weightage="20" keywordseo="manufacturing-jobs" source="keywords">manufacturing jobs</keyword>. He stressed that creating employment in this sector is crucial, given the influx of new workers entering the job market each month. “Through our investments in semiconductors, electric vehicles, precision manufacturing, and related industries, Tata Group expects to generate 5 lakh jobs over the next five years,” Chandrasekaran said as per a PTI report. He pointed to the group’s upcoming semiconductor plant in Assam and new manufacturing facilities for electric vehicles and batteries as significant contributors to this <keyword id="20268654" type="General" weightage="20" keywordseo="job-creation" source="keywords">job creation</keyword>. Chandrasekaran also talked about the broader impact of these initiatives, explaining that job creation in manufacturing has a multiplier effect, with numerous indirect employment opportunities arising from these projects. According to his calculations, for every direct job created in sectors like semiconductors, up to ten additional indirect jobs could emerge. The Tata Group’s investments will also spur the growth of small and medium enterprises (SMEs), with an estimated 5 lakh such businesses expected to form as part of the evolving ecosystem supporting these industries. While praising the government’s support for these initiatives, Chandrasekaran said that India’s vision of becoming a “Viksit Bharat” (developed India) cannot be achieved without substantial growth in manufacturing employment. “Every month, one million people join the workforce, and we need to create 100 million jobs,” he added, reinforcing the urgency of job creation in new-age industries. (With PTI inputs)

Tata Group will generate 5 lakh jobs in 5 years, says Tata Sons Chairman N Chandrasekaran

Newly appointed <keyword id="22895734" type="General" weightage="20" keywordseo="ICC-chairman" source="keywords">ICC Chairman</keyword> <keyword id="19930802" type="General" weightage="100" keywordseo="Jay-Shah" source="keywords">Jay Shah</keyword> extended his wishes to everyone on the occasion of the <keyword id="408358" type="General" weightage="20" keywordseo="National-Sports-Day" source="Orion">National Sports Day</keyword> (Major <keyword id="60219" type="General" weightage="20" keywordseo="Dhyan-Chand" source="Orion">Dhyan Chand</keyword>'s birth anniversary) on Thursday. Dhyan Chand, celebrated as 'The Wizard', represented the Indian hockey team from 1925 to 1949, scoring over 1500 goals in the 185 matches he played as a centre forward during his international career, which includes three Olympic Gold Medal wins in 1928,1932 and 1936. He was felicitated with the Padma Bhushan in 1956 and his birth anniversary on August 29, is celebrated as National <keyword id="6541281" type="General" weightage="20" keywordseo="Sports-Day" source="Orion">Sports Day</keyword>. "On this National <keyword id="6356028" type="General" weightage="20" keywordseo="Sports" source="Orion">Sports</keyword> Day, I warmly commend our athletes, coaches, and everyone who has devoted their life to sports. As we honour the legacy of Major Dhyan Chand Ji on his birth anniversary, let's commit ourselves to making India a powerhouse on the global sporting stage, the newly elected ICC Chairman said in a post on X. Earlier on Tuesday, Jay Shah was elected unopposed as the next Chairman of the <keyword id="19901179" type="General" weightage="20" keywordseo="International-Cricket-Council" source="keywords">International Cricket Council</keyword> (ICC). Shah, who has served as the BCCI Secretary since October 2019 and Chairman of the Asian Cricket Council since January 2021, will assume this prestigious role on December 1, 2024. Shah was the sole nominee for the chairmanship after current Chair Greg Barclay decided not to seek a third term, as per a media release by ICC. Upon his election, Shah expressed his intent to advancing the global reach and popularity of cricket, particularly with its upcoming inclusion in the LA 2028 Olympics--a moment he views as a pivotal opportunity for the sport's growth. "I am humbled by the nomination as the Chair of the International Cricket Council," Shah stated as quoted by ICC. "I am committed to working closely with the ICC team and our member nations to further globalize cricket. We stand at a critical juncture where it is increasingly important to balance the coexistence of multiple formats, promote the adoption of advanced technologies, and introduce our marquee events to new global markets. Our goal is to make cricket more inclusive and popular than ever before," Shah added. "While we will build on the valuable lessons learned, we must also embrace fresh thinking and innovation to elevate the love for cricket worldwide. The inclusion of our sport in the Olympics at LA 2028 represents a significant inflection point for the growth of cricket, and I am confident that it will drive the sport forward in unprecedented ways," Shah concluded. Jay Shah becomes the youngest person to lead the ICC. He joins the likes of Jagmohan Dalmiya, Sharad Pawar, N Srinivasan and Shashank Manohar as Indians who have led the ICC in the past. Shah's election marks a new chapter for the ICC as it seeks to expand the game's reach and continue its evolution on the global stage.

Newly appointed ICC Chairman Jay Shah extends wishes on occasion of National Sports Day

The newly-elected <keyword id="22895734" type="General" weightage="20" keywordseo="ICC-Chairman" source="keywords">ICC Chairman</keyword> <keyword id="19930802" type="General" weightage="100" keywordseo="Jay-Shah" source="keywords">Jay Shah</keyword>'s efforts as <keyword id="20593546" type="General" weightage="20" keywordseo="BCCI-secretary" source="keywords">BCCI secretary</keyword> in giving equal priority to men's and <keyword id="20018767" type="General" weightage="20" keywordseo="womens-cricket" source="keywords">women's cricket</keyword> have made the Indian board a "pioneer" for other governing bodies of the game to follow, reckoned legendary <keyword id="19919207" type="General" weightage="20" keywordseo="Sachin-Tendulkar" source="keywords">Sachin Tendulkar</keyword> on Wednesday. Shah will leave <keyword id="19901245" type="General" weightage="20" keywordseo="BCCI" source="keywords" meta.keywordsubtype="org" meta.entityname="BCCI" meta.hostid="261" meta.entityid="BCCI">BCCI</keyword> after a five-year stint, which began in October 2019, to take over as the independent chairman of the <keyword id="19901179" type="General" weightage="20" keywordseo="International-Cricket-Council" source="keywords" meta.keywordsubtype="org" meta.entityname="International Cricket Council" meta.hostid="261" meta.entityid="International Cricket Council">International Cricket Council</keyword> from December 1. Tendulkar joined many former and current players to extend his wishes to Shah, who will be the youngest ICC chairman in history at the age of 35. "Being enthusiastic and having the drive to do something good for cricket are essential qualities for a cricket administrator. @JayShah displayed these traits wonderfully during his stint as @BCCI secretary," Tendulkar wrote on X. "His endeavours towards prioritising both women's cricket and men's cricket have made the BCCI a pioneer that other boards can follow. I wish him the very best of luck towards the next phase of his journey, as he becomes the youngest chairman of the @ICC," he said. Shah will be the fifth Indian to head the ICC and Tendulkar hoped that he would be able to carry the legacy forward. "India has sent several luminaries to lead the ICC as administrators: Mr. Jagmohan Dalmiya, Mr. Sharad Pawar, Mr. N. Srinivasan, and Mr. Shashank Manohar. I am sure he will build on their legacy and take the game of cricket forward," he added. Former India skipper <keyword id="19951519" type="General" weightage="20" keywordseo="Sourav-Ganguly" source="keywords">Sourav Ganguly</keyword>, who was the BCCI president during Shah's first term wrote, "Congratulations to Jay Shah @JayShah on his new role as ICC chair.. wish him a great journey ahead .." (sic) India's batting mainstay Virat Kohli also congratulated Shah for his new role. "Many congratulations @JayShah on being elected as the ICC chairman. Wishing you great success ahead," he wrote. India's Test and ODI skipper Rohit Sharma wrote, "Heartiest Congratulations @JayShah." Jasprit Bumrah also extended his wishes, "Congratulations @Jay Shah bhai! Your passion for the game will ensure it's taken to the next level. Wishing you lots of luck!"

Jay Shah's endeavours as BCCI secretary made it a pioneer for others to follow: Sachin Tendulkar

<keyword id="19915124" type="General" weightage="20" keywordseo="ISRO" source="keywords">ISRO</keyword> has targeted to <keyword id="19997100" type="General" weightage="20" keywordseo="launch" source="keywords">launch</keyword> the first mission of the ambitious <keyword id="19945102" type="General" weightage="100" keywordseo="Gaganyaan" source="keywords">Gaganyaan</keyword> project by December, a top official said here on Friday. Currently, some of the rocket hardware for the human <keyword id="41531" type="General" weightage="20" keywordseo="space" source="Orion">space</keyword> programme has reached the <keyword id="20021373" type="General" weightage="20" keywordseo="Satish-Dhawan-Space-Centre" source="keywords">Satish Dhawan Space Centre</keyword> here and the integration of the crew module was going on at the <keyword id="20054184" type="General" weightage="20" keywordseo="Vikram-Sarabhai-Space-Centre" source="keywords">Vikram Sarabhai Space Centre</keyword>, Trivandrum, ISRO Chairman <keyword id="19929547" type="General" weightage="20" keywordseo="s-somanath" source="keywords">S Somanath</keyword> said. "Today, we are working on the first mission of the Gaganyaan called G1. The first unmanned mission. The status today is the rocket, the S200 stage, the L1, C32 stage are all at Satish Dhawan Space Centre," he said. He said the Crew Module integration was going on at VSSC Trivandrum while Crew Escape hardware was also ready. "So, we have to complete with full wiring and testing should be done. Our target is by November the whole system will reach here, possibly by December launch will happen," he said, responding to a query. Somanath was talking to reporters after successfully launching the third and final developmental flight of the Small Satellite Launch Vehicle that placed the Earth Observation Satellite into orbit earlier in the day. The success of the third and final developmental flight would pave the way for launch of commercial missions using the smallest vehicle by ISRO's commercial arm <keyword id="20038721" type="General" weightage="20" keywordseo="NewSpace-India-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="NewSpace India Ltd" meta.hostid="261" meta.entityid="NewSpace India Ltd">NewSpace India Ltd</keyword> (NSIL). Today's successful mission of <keyword id="21471593" type="General" weightage="20" keywordseo="SSLV" source="keywords">SSLV</keyword> allows industry to forge a partnership with ISRO for placing satellites into Low Earth Orbit. Besides, it would also allow a company to gain knowledge on rockets, launch vehicles, and satellites in the Small Satellite Launch Vehicle missions. To a query about the requirement for industries to partner with the ISRO for taking up commercial launch of SSLV missions, Somanath said a day-long meeting was recently held with the industry. "I am hoping that the first technology transfer will happen in India between ISRO and industry. The Request for Interest (RFI) was released and as a single (entity) or as consortia, a company can show interest on the technology transfer (from ISRO) and what were the expectations from ISRO and how to qualify for such missions," he said. From the interactions held with the industry it emerged there was a huge amount of interest for them to learn about space, he added. "We told them it will be a huge challenge for anyone to learn rocketry from scratch. It is not just transferring technology, we are transferring the knowledge on how things are done (at ISRO). It is not the drawings alone, it is the knowledge behind those drawings we transfer to industry," according to Somanath, also the Secretary, Department of Space. Through the industry partnerships, ISRO would teach them on how to build a rocket, he said and added that the industry should qualify as per the criteria put forth by ISRO. The company should possess manufacturing capabilities, manufacturing facilities and financial strengths of a company would be assessed, he said. "We will add weightage and marks based on the performance of the company and based on that the companies will be shortlisted and a contract would be given to them after the companies which have to pay a technology transfer fee," he said. Some of the unique features of SSLVs are -- it provides low-cost access to Space, offers low turn-around time and flexibility in accommodating multiple satellites, 'launch on demand' feasibility and SSLV missions demand minimal launch infrastructure.

ISRO targets first Gaganyaan mission launch by December: Chairman

<ul class="summary-list"><li>Emirates has ordered five Boeing 777 freighters, eventually expanding its fleet to 21 of the planes.</li><li>The order comes days after Emirates' boss criticized a fresh delay to Boeing's new passenger jet, the 777X.</li></ul>Emirates has announced a fresh order for Boeing 777 freight planes, just days after its chairman publicly criticized the embattled planemaker.Emirates said Monday that it has ordered five more 777F planes as it seeks to expand its freight capabilities alongside its passenger operation. Combined with its previous orders and existing fleet, <a target="_blank" class="" href="https://mediaoffice.ae/en/news/2024/october/21-10/emirates-orders-5-additional">the Dubai-based airline will have 21 freight planes overall</a>, almost doubling its current amount. The planes, which will fly under the airline's Emirates SkyCargo brand, are expected to be delivered by the end of 2026, Emirates said."We're investing in new freighter aircraft to meet surging demand and provide our customers around the world with even more flexibility, connectivity, and options to leverage market opportunity," HH Sheikh Ahmed bin Saeed Al Maktoum, chairman and CEO of Emirates Airline and Group, said.Emirates is one of Boeing's biggest customers, so a fresh order of Boeing planes is not unusual. However, the timing of the announcement is noteworthy, coming less than a week after sharp criticism of the company from Tim Clark, Emirates' chair.<div type="image" title="Tim Clark speaking at a press conference with an image of a plane behind him." height="2967" width="4500" msid="114428148" hostid="261" sizebytes="1748448"></div>After Boeing announced that its <a target="_blank" class="" href="https://www.businessinsider.com/emirates-boeing-777x-delays-plans-serious-conversation-strike-2024-10">much-anticipated 777X passenger jet would be further delayed</a>, Clark said he would have a "serious conversation" with Boeing's management about the continued setbacks to the plane. Emirates has ordered over 260 of the 777X."I fail to see how Boeing can make any meaningful forecasts of delivery dates," Clark said in a statement to Business Insider."Emirates has had to make significant and highly expensive amendments to our fleet programs as a result of Boeing's multiple contractual shortfalls and we will be having a serious conversation with them over the next couple of months," he added.Boeing said earlier in October that <a target="_blank" href="https://www.businessinsider.com/boeing-layoffs-strike-777x-delay-freighter-2024-10">it would cut around 10% of its 170,000 workforce</a> and that the first delivery of the 777X would not be ready until 2026, several years after first expected.Boeing has dealt with the financial fallout from an ongoing strike, which may end this week <a target="_blank" class="" href="https://www.businessinsider.com/boeing-union-leaders-deal-strike-wage-increase-2024-10">if workers agree to a 35% pay raise in a vote</a>.Boeing said in <a target="_blank" class="" href="https://investors.boeing.com/investors/news/press-release-details/2024/Boeing-Reports-Preliminary-Third-Quarter-Results/">a preliminary third-quarter earnings report</a> that the delay to the 777X plane would cost $2.6 billion.The 777X is set to become the largest twin-engine jet in operation, with a capacity for more than 400 seats. This aligns with the Dubai government's intention to expand Al Maktoum International airport to make it the world's largest hub by capacity.Emirates did not immediately respond to a request for further comment from Business Insider.

Emirates has placed a fresh order for Boeing freight planes, just days after its chairman criticized ongoing delivery delays

<keyword id="22661695" type="General" weightage="20" keywordseo="Regulatory-moves" source="Orion">Regulatory moves</keyword> discouraging <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">retail investors</keyword>' <keyword id="22661696" type="General" weightage="20" keywordseo="derivative-market-bets" source="Orion">derivative market bets</keyword> may help the <keyword id="59197" type="General" weightage="20" keywordseo="banking-system" source="Orion">banking system</keyword> garner the much-needed <keyword id="6496248" type="General" weightage="20" keywordseo="deposits" source="Orion">deposits</keyword>, <keyword id="46004" type="General" weightage="20" keywordseo="SBI-Chairman" source="Orion">SBI Chairman</keyword> <keyword id="1937145" type="General" weightage="20" keywordseo="Dinesh-Kumar-Khara" source="Orion">Dinesh Kumar Khara</keyword> has said. Khara said the budget announcements like the tweaks on the short-term and long-term capital gains will not lead to much gains from a deposit accretion perspective. "<keyword id="20031465" type="General" weightage="100" keywordseo="FO" source="keywords">F&amp;O</keyword> (future and options) kind of things are being discouraged for the retail (investor) by the regulator. Those who are resorting to such kind of an instrument, they might come back to the banking system," Khara told PTI over the weekend. It can be noted that concerns over losses incurred by 90 per cent of investors in the derivative trades have led to fears of household savings being blown in speculation rather than being deployed for productive purposes among policymakers. As per <keyword id="20033427" type="General" weightage="20" keywordseo="capital-markets" source="keywords">capital markets</keyword> regulator Sebi, retail investors lost Rs 52,000 crore in such activity in FY24 alone which necessitates a clampdown. Sebi has come up with a seven-point plan to reduce such trades, while some moves in the Union Budget are also targeted to reduce such activities. For the last three years, the deposit growth is unable to keep pace with credit expansion, and Khara said the money is going into alternative avenues like capital markets. He, however, stressed that the bank account is the primary avenue for parking the savings and continue to attract interest, and reminded that there was a phase of deposit growth trailing credit growth in 2011 as well witnessed by the banking system. At present, concerns are being raised about the wedge between the deposit and credit growth leading banks to go slower on granting loans, which can be be detrimental for the overall economic growth. <keyword id="19898108" type="General" weightage="20" keywordseo="SBI" source="keywords" meta.keywordsubtype="org" meta.entityname="SBI" meta.hostid="153" meta.entityid="SBI">SBI</keyword>, the country's largest lender which commands over a fifth of market share, is targeting a credit growth of 15 per cent in FY25 and a deposit growth of 8 per cent, Khara said. Stating that the bank will try to get the deposit growth at 10 per cent, he made it clear that the credit growth target can be achieved even with a slower pace of deposit growth of 8 per cent due to its liquidity position. The bank chose to deploy excess deposits in the past into its investment book and is currently unwinding the same as it caters to the credit demand, Khara said. He said the bank's liquidity coverage ratio stands at 128 per cent and it has decided to keep it over 110 per cent.

Discouraging retail play in F&O may help banks garner deposits: SBI Chairman

New Delhi: The central government has approved the appointment of a new Chairman and <keyword id="19899229" type="General" weightage="20" keywordseo="Managing-Director" source="keywords">Managing Director</keyword> of the <keyword id="19934368" type="General" weightage="100" keywordseo="State-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="State Bank of India" meta.hostid="261" meta.entityid="State Bank of India">State Bank of India</keyword> (<keyword id="19898108" type="General" weightage="20" keywordseo="sbi" source="keywords">SBI</keyword>) as the current Chairman, <keyword id="20944427" type="General" weightage="20" keywordseo="Dinesh-Kumar-Khara" source="keywords">Dinesh Kumar Khara</keyword>, is set to retire on August 28. According to a notification by the Department of Personnel &amp; Training, the Appointments Committee of the Cabinet (ACC) on August 6 approved the proposal of the Department of Financial Services for the appointment of <keyword id="22230591" type="General" weightage="20" keywordseo="Challa-Sreenivasulu-Setty" source="keywords">Challa Sreenivasulu Setty</keyword> as chairman of SBI. The ACC has approved the appointment of Setty, 59, the current Managing Director (MD) of SBI as the new Chairman of the country's biggest lender, for a period of three years, effective from the date he assumes office, on or after August 28, 2024. The government order states, "The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services for the appointment of Shri Challa Sreenivasulu Setty (DOB: 26.09.1965), Managing Director (MD), State Bank of India (SBI) as Chairman, SBI for a period of three (03) years w.e.f. the date of assumption of charge of the office, on or after 28.08.2024." Additionally, Rana Ashutosh Kumar Singh, the current Deputy Managing Director (DMD) of SBI, has been appointed as the new Managing Director. His appointment will take effect from the date he assumes office. The government order read, "The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services for appointment of Shri Rana Ashutosh Kumar Singh, Deputy Managing Director (DMD), State Bank of India (SBI) as Managing Director (MD) in SBI with effect from the date of assumption of office." According to SBI, Challa Sreenivasulu Setty joined the Board of SBI as Managing Director in January 2020 and currently oversees International Banking, Global Markets, and Technology wings of the Bank. He has previously headed the Retail &amp; Digital Banking vertical and various task forces/committees formed by the Government of India. Setty holds a Bachelor of Science in Agriculture and is a Certified Associate of the Indian Institute of Bankers. He began his career with SBI in 1988 as a Probationary Officer. Over his three-decade-long career, he has gained rich experience in corporate credit, retail, digital, and international banking, as well as banking in developed markets. Setty has also held key positions within SBI, including Deputy Managing Director - Stressed Assets Resolution Group, Chief General Manager, and General Manager in the Corporate Accounts Group, Deputy General Manager in the Mid-Corporate Group, and Vice President &amp; Head (Syndications) at SBI's New York Branch. (ANI)

Centre approves appointments of new Chairman, Managing Director of State Bank of India

<keyword id="19970108" type="General" weightage="20" keywordseo="vacancies" source="keywords">Vacancies</keyword> in <keyword id="20591266" type="General" weightage="20" keywordseo="teaching-positions" source="keywords">teaching positions</keyword> in <keyword id="20132275" type="General" weightage="20" keywordseo="state-universities" source="keywords">state universities</keyword> have emerged as a major hurdle in the implementation of the National Education Policy (<keyword id="19904633" type="General" weightage="20" keywordseo="nep" source="keywords">NEP</keyword>) 2020, University Grants Commission (<keyword id="19932586" type="General" weightage="20" keywordseo="ugc" source="keywords">UGC</keyword>) chairman Mamidala Jagadesh Kumar said here on Friday. The <keyword id="20963740" type="General" weightage="20" keywordseo="UGC-chairman" source="keywords">UGC chairman</keyword> was here to attend a day-long conference of vice-chancellors of Northeastern and Eastern regions on 'Implementation of NEP 2020', hosted by Guwahati-based Pragjyotishpur University. Addressing a press conference, Kumar said, "Across the country, a major problem in state universities is vacancies in teaching positions. In some state universities, 50 to 80 per cent of teaching positions are vacant," urging universities to expedite the filling of these positions. He said implementation of NEP is a "journey", which cannot happen overnight, and state governments have been enthusiastically participating in implementing it. Kumar stressed that it is also essential for the universities to formulate an institutional development plan and their own roadmap for the future. With approximately 130 vice-chancellors and other academics participating, discussions at the conference focused on transforming <keyword id="19896809" type="General" weightage="20" keywordseo="higher-education" source="keywords">higher education</keyword> institutions to empower students in contributing to national development. Key topics include providing holistic education, integrating skill development with degree programs, and utilising digital technology to reach students from rural and economically weaker backgrounds. "We will be discussing how the NEP is being implemented and challenges colleges and universities are facing, so that we can collectively find solutions," he said. Kumar requested the universities to open more off-campus centres to make education accessible and equitable, while stating that UGC was also laying thrust on training teachers in the higher education sector. Highlighting the need to expose students to different parts of the country, he said the Northeastern region is home to many indigenous knowledge systems, whether it be a festival celebrated based on astronomical calculation, bamboo engineering or shifting cultivation. "These are parts of Indian knowledge system and there is a need to expose students to this from different parts of the country," he said. Kumar added that UGC is also working on promoting education in own language, especially with the country having numerous native languages. On implementation of NEP in this region, Kumar said the UGC is in regular touch with state higher education councils and VCs. "We are very happy to inform that state governments are very enthusiastically participating in implementing NEP. Implementation is a journey," he added. He reiterated that achieving the target of a Gross Enrollment Ratio (GER) of 50 per cent by 2035 requires sustained effort and cannot be achieved overnight. Among initiatives under NEP is the provision of biannual admissions to help students who fail to enroll during July-August to take admission in January-February. Universities with required infrastructure have been requested to implement it to maximise resource utilisation, Kumar said, adding that 90 varsities have also started biannual admissions for online programmes. The UGC chairman also said stress is being laid on strengthening research ecosystem in the universities and bring more young people into it. Though directly UGC funded-research has stopped now, funds for research projects are available through other agencies, like National Research Foundation and other schemes, he added. With focus on online education, internet connectivity and electrification has also received a boost across the country, with common service centres also set up for students in remote areas to access Net, Kumar added.

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