<ul><li>Bharti Airtel has officially launched its Security Intelligence Centre to protect enterprises from cyberthreats.</li><li>The company’s CEO Gopal Vittal claims that it took around ₹100 crore of investment and over a year to set up. </li><li>Vittal also revealed that the company already has 20 paying customers using the new platform and is hoping that the commercial launch will bring in more clients. </li></ul>To address the growing threat of cyber attacks on data and information, Bharti Airtel has now launched a new cybersecurity product called <keyword id="4644317" type="PERSON" weightage="20" keywordseo="Airtel-Secure">Airtel Secure</keyword> for enterprises. It operates out of the Airtel Security Intelligence Centre set up in Manesar. According to Bharti Airtel’s CEO Gopal Vittal, the hub took an investment of over ₹100 crore and over a year to set up. But it’s a small price to pay for a piece of the cybersecurity market that is estimated to grow to $13 to $15 billion over the next five years. “We already have a couple of large companies who are already using our Security Intelligence Centre. We’re starting to bundle it for small and medium enterprises as well,” said Vittal, citing that around 20 paying customers already live on the product. The Government of India is also one of the potential customers with it already working hand-in-hand with the National Security Advisor (NSA). Vittal highlighted that there’s a team of over 500 cybersecurity experts behind the ‘integrated and automated’ facility. Airtel’s new global partnerships To make the new portfolio possible, Airtel has reeled in <keyword id="6390344" type="UNKNOWN" weightage="20" keywordseo="CISCO">CISCO</keyword>, <keyword id="1516392" type="PERSON" weightage="20" keywordseo="Radware">Radware</keyword>, <keyword id="141089" type="CITY" weightage="20" keywordseo="VMware">VMware</keyword>, and Forcepoint for this project. “You will see the launch of more and more partnerships. You will hear about that in the coming weeks and months,” said Vittal. Airtel and Radware also have plans to set up a scrubbing center in India. Roy Zisapel, Radware’s President and CEO, highlighted the recent attack on the New Zealand Stock Exchange, expressing the importance of a product like Airtel Secure for companies as the threat of cyberattacks has increased during the coronavirus pandemic with more people working from home. Vittal is optimistic that companies will sign up because security is no longer something to mull over but ‘basic hygiene’. “It’s become a very serious subject. It’s only going to grow with respect to importance over time. Every business we spoke to is acutely conscious of cyber security,” said Vittal. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/lakshmi-vilas-bank-down-5-as-concerns-over-clix-capital-merger-deepen/articleshow/78399789.cms">Lakshmi Vilas Bank is down nearly 5% as concerns over Clix Capital merger deepen</a>

Airtel launches new cybersecurity product with CISCO, Radware, VMware, and Forcepoint for enterprises — it took ₹100 crore and over a year to set up

<ul><li>CBI’s Special Court in Lucknow has acquitted all 32 accused of conspiring to demolish the <keyword id="43572" type="COMPANY" weightage="20" keywordseo="Babri-Masjid">Babri Masjid</keyword>.</li><li>The key accused in this historic case include <keyword id="6436232" type="UNKNOWN" weightage="20" keywordseo="LK-Advani">LK Advani</keyword>, Uma Bharti, MM Joshi and Kalyan Singh, among others.</li><li>This is special CBI judge Surendra Kumar Yadav’s final verdict before his retirement today. </li></ul>Nearly three decades after the Babri Masjid was demolished, Lucknow’s special Central Bureau of Investigation (CBI) court has announced its verdict today acquitted all of 32 accused. In his last verdict before retirement, judge Surendra Kumar Yadav said, “The demolition was not pre-planned.” According to him, the people named in the chargesheet weren’t trying to incite the mob but to <a href="https://twitter.com/LiveLawIndia/status/1311201954371166208">stop them</a>. “Court found that the video was fabricated. Investigative team did not produce negatives of the picture,” said advocate KK Misra after the verdict was announced. Yadav also highlighted that a local intelligence report had cautioned that such an event might take place on December 6 but it went unheeded by those concerned. Only 26 of the 32 accused were in court today. Some were excused due to age and others due to COVID-19 restrictions like Uma Bharti, who had recently tested positive for the disease. Overall 49 people were named as the accused in the FIR lodged by the CBI. However, 17 individuals died during the course of the 28-year-long trial. What is the Babri Masjid demolition case? The mosque was demolished on 6 December 1992 by a mob that believed that it had been built on top of Hindu deity Lord Ram’s birth place. However, the demolition was only the first of the dominoes to fall. Religiously motivated riots followed and led to death of around 2,000 people. Main crux of the matter, the demolition itself, was settled by the Supreme Court in 2019. It ruled in favour of erecting the Ram Janmabhoomi Temple at the location and allocating a different site for the mosque to be rebuilt. What was still hanging in the balance were the two FIRs filed by the police in 1992. Additionally, forty-seven more FIRs were filed for attacks on journalists on the day of the demolition. Of the two FIRs filed by the police, one was against lakhs of volunteers who were seen climbing the mosques with hammers and axes in hand. And the second one was against eight people — Advani, Joshi, Bharti, BJP’s Vinay Katiyar, Vishwa Hindu Parishad’s Ashok Singhal, Giriraj Kishore, Vishnu Hari Dalmia and Sadhvi Rithambhara. Dalmia, Kishore and Singhal have since passed away. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/lakshmi-vilas-bank-down-5-as-concerns-over-clix-capital-merger-deepen/articleshow/78399789.cms">Lakshmi Vilas Bank is down nearly 5% as concerns over Clix Capital merger deepen</a>

Babri Masjid demolition case: CBI Special Court acquits all accused, judge says ‘demolition was not pre-planned’

The <keyword id="6355100" type="ORGANIZATION" weightage="20" keywordseo="Indian-Navy">Indian Navy</keyword> has conducted exercises with Russia and 'Quad' countries - an informal security forum comprising India, the US, Japan and Australia - in a message to China on getting a wider footprint in the Indo-Pacific region. The Indo-Pacific region is seen from the west coast of India to the US. The Indian Navy carried out a three-day bilateral maritime exercise with Japan in the north Arabian Sea from September 26, 2020 to September 28, 2020. It was the fourth edition of India-Japan Maritime bilateral exercise JIMEX, which is conducted biennially. The last edition of JIMEX was conducted in October 2018 off Visakhapatnam in India. Naval cooperation between India and Japan has increased in scope and complexity over the years. Advanced level of operations and exercises took place during three days. It is indicative of the continued upswing in Indo-Japanese defence relations and continued efforts by both governments to work closely for a more secure, open and inclusive global commons, in accordance with international regulations. The helicopter carrier of Japan JS Kaga took part in the recent exercise. The Kaga and its sister ship the Izumo are being converted into aircraft carriers that will carry US-built maritime planes, the F35-B. India, Japan, China and South Korea are the countries now involved in what is seen in strategic circles as the Asian carrier race. The Australian Navy and Indian Navy carried out passage exercise in the East Indian Ocean Region from September 23 to September 24. The exercise involved participation of HMAS Hobart from the Australian side and Indian naval ships Sahyadri and Karmuk. In addition, an Indian maritime patrol aircraft and helicopters from both sides carried out coordinated exercise. The exercise, aimed at enhancing interoperability, improving understanding and imbibing best practices from each other, involved advanced surface and anti-air exercises including weapon firings, seamanship exercises, naval manoeuvres and cross deck flying operations. To boost mutual confidence and cooperation, a bilateral maritime exercise between Indian Navy and Russian Navy took place in the Bay of Bengal on between September 4 and September 5. "The exercise was aimed at imbibing best practices between the two navies," Indian Navy spokesperson Commander Vivek Madhwal told IANS. He also said that the exercise helped to further boost mutual confidence and cooperation between the two Navies and would reinforce the longstanding bond of friendship between the two countries. The exercise is known as 'Indra Navy' and is the 11th edition. It is a biennial bilateral maritime exercise between Indian Navy and Russian Navy. Indian Navy units undertook Passage Exercise (PASSEX) with units of US Navy - Nimitz Carrier Strike Group as they transited through Indian Ocean Region on July 20. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/lakshmi-vilas-bank-down-5-as-concerns-over-clix-capital-merger-deepen/articleshow/78399789.cms">Lakshmi Vilas Bank is down nearly 5% as concerns over Clix Capital merger deepen</a> <a href="https://www.businessinsider.in/tech/enterprise/news/airtel-launches-new-cybersecurity-product-with-cisco-radware-vmware-and-forcepoint-for-enterprises-it-took-100-crore-and-over-a-year-to-set-up/articleshow/78403006.cms">Airtel launches new cybersecurity product with CISCO, Radware, VMware, and Forcepoint for enterprises — it took ₹100 crore and over a year to set up</a> <a href="https://www.businessinsider.in/india/news/babri-masjid-demolition-case-cbi-special-court-acquits-all-accused-judge-says-demolition-was-not-pre-planned/articleshow/78401534.cms">Babri Masjid demolition case: CBI Special Court acquits all accused, judge says ‘demolition was not pre-planned’</a>

Indian Navy takes to seas with Russia and QUAD countries

Mumbai, May 22 () Bankers on Friday said the 40 basis points reduction in repo rate by the Reserve Bank of India will give a big support to the sagging economy. The RBI on Friday reduced the repo rate by 40 basis points to 4 per cent, the lowest since it came into being in 2000. The central bank also announced a slew of measures, including extension of moratorium on loan repayments by another three months and increasing bank exposure to corporates to 30 per cent of the group's net worth from the current limit of 25 per cent. "The RBI policy announcement in response to the fallout of COVID-19 pandemic is timely. The reduction in policy rate by 40 bps under the assumption that growth in FY21 will be negative is an appropriate move to support economic activity," State Bank of India (SBI) Chairman Rajnish Kumar said. RBI Governor Shaktikanta Das said given the uncertainties, GDP growth in 2020-21 is estimated to remain in the negative territory, with some pick-up from the second half of the current fiscal. "The RBI continued with its extraordinary commitment in its fight against COVID-19. The latest round of rate cuts, moratorium extension, deferment of interest on working capital facilities and relaxation in asset classification will provide the requisite balm to the economy," Standard Chartered Bank India CEO Zarin Daruwala said. RBI extended the three-month moratorium on loan repayments from June 1 to August 31, 2020. "It was a good decision. There was a requirement of extension of moratorium since the lockdown has not been lifted 100 per cent," Central Bank of India Managing Director and CEO Pallav Mohapatra said. RBI permitted to convert the accumulated interest on working capital facilities over the deferment period up to August 31 into a funded interest term loan which will be repayable not later than the end of the current financial year. "Conversion of interest on working capital loans for the moratorium period into funded interest term loan (FITL) will give a breather to the borrowers," Indian Bank's Managing Director and CEO Padmaja Chunduru said. The time period for repayment of that component could have been longer than just seven months, she added. According to Bank of Baroda's Chief Economist Sameer Narang, RBI has room for another 25 basis points reduction in policy rate as GDP is likely to contract by 4.7 per cent in FY21 with CPI inflation at 3.5 per cent. Yes Bank's Senior Economist Vivek Kumar said there could be further support from RBI in the form of another 50 basis points cut in the repo rate amid widening of negative output gap and assertion of disinflationary pressures. "We also expect RBI to come up with a large scale bond purchase program (via OMOs) covering both g-secs and SDLs to lower elevated term premium and credit spreads in the economy," he said. Harsh Shrivastava, chief executive officer of Microfinance Institutions Network, said, "MFIN and its members will be happy to extend moratorium to those customers who need it the most while welcoming clients who are able to pay if they have cash flow." Religare Finvest President and Head (Corporate Planning and Strategy) Pankaj Sharma said extension of loan moratorium and permission to convert accrued interest on the moratorium into a funded interest term loan to be paid during the tenure of the loan will ease the pressure on the lending entities, especially NBFCs. "The group exposure limit enhancement for banks will help channelize the credit flow to the NBFC sector. The 3 month extension of the moratorium relief was expected due to the extended lockdown of COVID-19," Tata Capital Managing Director and CEO Rajiv Sabharwal said. Clix Capital CEO Bhavesh Gupta said for banks and NBFCs, moratorium may lead to an increase in NPAs in the long term and it would have been better had RBI also announced directions on one-time restructuring of loans and other support measures. HV ABM ABM

RBI's rate cut to support economy, say bankers

<ul><li>The 30-share BSE index was trading 62 points lower, and the NSE Nifty slipped 0.12% at 10:05 am.</li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices, Sensex and Nifty turned choppy on Wednesday after trading in green territory for a brief while. Financial stocks led the fall amid mixed cues from global markets as investors remained cautious after the first US presidential debate. The 30-share BSE index was trading 62 points lower, and the NSE Nifty slipped 0.12% at 10:05 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr. Reddy's Laboratories </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharat Petroleum </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">United Phosphorus Ltd </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sun Pharmaceutical Industries </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divi's Laboratories </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td></tr></tbody></table>*as of September 30, 10:00 am These are the top stocks in news today. VA Tech Wabag up over 6% The shares of VA Tech Wabag gained 6% in an otherwise volatile market after its board approved allotment of 75 lakh equity shares at a price of ₹160 apiece aggregating ₹120 crore by way of the preferential issue. The list of proposed investors includes Rekha Rakesh Jhunjhunwala, Basera Home Finance, Sushma Anand Jain, and Anand Jaikumar Jain. Reliance Industries (RIL) open 1% higher The shares of Mukesh Ambani owned RIL opened 1% higher after its Retail venture, Reliance Retail <a href="https://www.businessinsider.in/business/news/reliance-retail-seals-its-third-deal-this-month-general-atlantic-to-invest-3675-crore/articleshow/78397878.cms">sealed its third deal</a> this month. The American growth equity firm, General Atlantic has invested ₹3,675 crore into Reliance Retail for a 0.84% stake in the company. Future Enterprises down 3% The shares of Future Enterprises lost nearly 3% value after the Kishore Biyani-led company reported a fresh default on interest payment of non-convertible debentures (NCDs). Future Enterprises said it had defaulted on interest payment of ₹16.11 crore for a gross principal amount of ₹332 crore. This also dragged other Future Group stock such as — Future Retail and Future Lifestyle Fashions down 3%, among others. Housing Development Finance Corp (HDFC) trades higher after amalgamation nod The shares of Housing Development Finance Corp (HDFC) was trading nearly a percent higher after National Company Law Tribunal (NCLT), Mumbai sanctioned the scheme of amalgamation for the merger of HDFC ERGO Health Insurance into HDFC ERGO. Indiabulls Housing Finance surges 4% The shares of the leading private sector mortgage lender Indiabulls Housing Finance gained 4% after it raised another ₹630 crore by selling a part of its stake in UK-based bank Oak North to Toscafund Asset Management. Punjab National Bank and Lakshmi Vilas Bank trade lower The shares of Punjab National Bank was trading 2% lower after <a href="https://www.business-standard.com/article/finance/rbi-sounds-out-pnb-on-acquisition-of-beleaguered-lakshmi-vilas-bank-120092901633_1.html">reports surfaced that RBI has asked Punjab National Bank to take over</a> Lakshmi Vilas Bank (LVB) in case the beleaguered lender’s proposed transaction with Clix Capital does not materialise. Lakshmi Vilas Bank was also trading 5% lower during the early trading hours. PVR soars 3% The shares of cinema giant PVR Limited soared 3% ahead of the board meeting on October 5 to consider the proposal of raising funds via non-convertible debentures. SEE ALSO: <a href="https://www.businessinsider.in/business/news/reliance-retail-seals-its-third-deal-this-month-general-atlantic-to-invest-3675-crore/articleshow/78397878.cms" data-type="tilCustomLink" style="">Reliance Retail seals its third deal this month – General Atlantic to invest ₹3,675 crore</a> <a href="https://www.businessinsider.in/science/space/news/after-the-moon-mars-is-getting-laser-reflecting-mirror-to-help-future-landings-on-the-red-planet/articleshow/78385935.cms" data-type="tilCustomLink">After the Moon, Mars is getting laser-reflecting mirror to help future landings on the Red Planet</a>

Top stock movers — RIL, Future Group companies, VA Tech Wabag, PNB, HDFC, and more

<ul><li>The <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (RBI) recorded its largest-ever current account surplus during the first quarter of the current financial year. </li><li>The surplus is mostly on account of imports shrinking more than exports in three months between April to June. </li><li>Even the boost to India’s foreign exchange reserves (FOREX) to $27.9 billion was due to the depreciation of the US Dollar and an increase in gold prices.</li></ul>More money in the bank is usually regarded as a positive sign to look forward to, but for the Reserve Bank of India (RBI), this large surplus in the June quarter may not reflect the best tidings. India’s apex banking institution recorded its largest current account surplus at $19.8 billion that accounts for 3.9% of the GDP. That being said, the GDP fell by 23% in the first quarter. <div type="image" title="RBI CA" msid="78404684" hostid="261" caption="&amp;lt;p&amp;gt;RBI&amp;#39;s current account status over the last five quarters&amp;lt;/p&amp;gt;"></div> “The current account surplus itself is not really a surprise. What is surprising is that the trade deficit didn’t come down as sharply as expected,” Madan Sabnavis, the chief economist at CARE Ratings, told Business Insider. According to him, there has, in fact, been a marginal decline when it comes to invisibles of the current account — remittance and software. “Earlier we had a situation where the deficit was high but the invisibles were toning it down,” Sabnavis explained. Import and export of goods takes a hit — could be temporary For the RBI, between April to June, most of the surplus in its kitty is on account of faltering trade. “The merchandise trade deficit shrunk to just $10 billion in Q1 FY2021, most of which was accounted for by the net oil balance,” said Aditi Nayar, the Principal Economist at ICRA. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Major items in the Current Account </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April-June 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April-June 2019 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Imported goods </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$62.3 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$129.5 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Exports goods </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$52.3 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$82.7 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Imported services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$26.3 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$52.2 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Exported services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$46.8 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$32.1 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Primary Income credited </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$5.1 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$5.8 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Primary Income debited </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$12.8 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$12.1 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Secondary Income credited </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$18.2 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$20 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Secondary Income debited </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.2 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2 billion </td></tr></tbody></table>Source: RBI Madan believes the relief is only temporary. These numbers only account for what has happened up until June. Since then the unlock has commenced, oil consumption has started increasing and factories are running again. “ICRA expects merchandise imports to stage a relatively faster recovery in H2 FY2021, with the economy slowly grinding to a new normal, the stabilisation in commodity prices and relatively sticky demand for gold closer to the festive and marriage season,” forecasts Nayar. Following the data release for Q1, ICRA has revised its expectation of the size of India’s current account balance in FY2021 to $35 billion or around 1.4% of GDP. What is a current account surplus? The current account can either be in surplus or deficit depending on the inflow and outflow of money from the country in the form of remittances, goods, services and other movement of assets. Normally, a surplus in a country’s current account is considered a positive sign if it is a result of scaling down expenditure on imports or increasing earnings from exports. On the flip side, current account surpluses can also be a signal of recession setting in when domestic demand dips, imports are curbed and the currency is depreciated. Analysts believe that even though the surplus is not necessarily a signal of recession, it’s not much to celebrate either since this is likely to be temporary. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/lakshmi-vilas-bank-down-5-as-concerns-over-clix-capital-merger-deepen/articleshow/78399789.cms">Lakshmi Vilas Bank is down nearly 5% as concerns over Clix Capital merger deepen</a> <a href="https://www.businessinsider.in/tech/enterprise/news/airtel-launches-new-cybersecurity-product-with-cisco-radware-vmware-and-forcepoint-for-enterprises-it-took-100-crore-and-over-a-year-to-set-up/articleshow/78403006.cms">Airtel launches new cybersecurity product with CISCO, Radware, VMware, and Forcepoint for enterprises — it took ₹100 crore and over a year to set up</a> <a href="https://www.businessinsider.in/india/news/babri-masjid-demolition-case-cbi-special-court-acquits-all-accused-judge-says-demolition-was-not-pre-planned/articleshow/78401534.cms">Babri Masjid demolition case: CBI Special Court acquits all accused, judge says ‘demolition was not pre-planned’</a>

RBI records its largest-ever current account surplus — but that’s not necessarily a good thing

<ul><li>A total of 40 CEOs and businessmen are raising ₹20 billion to build a university named Plaksha. </li><li>The university will be built over 50 acres near Chandigarh. </li><li>The idea behind the university is bringing technological solutions for society ranging from <keyword id="107950" type="TECHNOLOGY" weightage="20" keywordseo="artificial-intelligence">Artificial Intelligence</keyword>, Machine Learning to Robotics. </li></ul>India’s top entrepreneurs and businessmen are pooling their resources to build a technology university aimed at teaching emerging technology, innovation and entrepreneurship. The university, which hopes to become the ‘Stanford of the East,’ is backed by over 40 Indian entrepreneurs and CEOs including Mahindra CEO CP Gurnani, Neeraj Aggarwal, Chairman of Asia Pacific, Boston Consulting Group, Hellion Ventures’ co-founder Ashish Gupta, chairman of Genpact and Clix Capital Pramod Bhasin, Hitesh Oberoi, Infoedge and Naukri.com Managing Director, among others. Together, they are raising <a href="https://www.livemint.com/companies/news/entrepreneurs-group-to-raise-2-000-crore-for-stem-university-1550171308952.html">₹20 billion</a> to build Plaksha – the name given to the university – and have already raised ₹4,000 million. The university will be launched in 2021. The idea for the university started three years ago, when a few IIT alums – today top business leaders – got together and thought of way to encourage India’s booming tech-driven ecosystem, say its founders. “We felt the need to reimagine technology education the way it’s being delivered today and create something that’s truly world-class and cutting edge, and reimagine teaching curriculum research,” Vineet Gupta, Managing Director, Jamboree Education Pvt. Ltd. and Founder and Trustee, Ashoka University, who is one of the investors and founding member of Plaksha, told Business Insider. The university will be built upon 50 acres of land near Chandigarh International Airport, near Indian School of Business, Mohali. In its first phase, the investors have planned to invest ₹3,500 million in capital for a 1,000 student campus. In 10 years, the founders aim for it to become a 8,000-students campus. “We met the Punjab and Haryana government, where the Punjab government was excited about the university. When the idea started it was five-six of us and now we have reached 40, the number will keep growing as it’s a combined philanthropic effort,” said Gupta. The idea behind the university is bringing technological solutions for society, Gupta said, adding they hope its ideas will help solve India’s challenges in areas ranging from food security, environment sustainability, health, education or innovation in manufacturing. “Technology has a huge role to play in advancing solutions for these problems.While the approach of the university will be to look at cutting edge technology in sectors like Artificial Intelligence, Machine Learning, robotics among other, we would like the university to sensitize and deal with solutions focused on India,” said Gupta. The importance of technology and innovation education has been a big theme at almost every other startup meet or discussion at Indian events focused on entrepreneurship. The setting up of this university will lead to more students having an option to learn about entrepreneurship and technology before actually being a part of the game. “Education is a big multiplier…most of us got good education at IITs almost for free and what we are today is because of that quality education. Over the last three decades, the world has changed and it is time for us to come together and create a new model that can be best in the world in terms of teaching, learning, and market worthiness," <a href="https://www.livemint.com/companies/news/entrepreneurs-group-to-raise-2-000-crore-for-stem-university-1550171308952.html">Mint</a> reported citing Hitesh Oberoi, Infoedge and Naukri.com Managing Director. See Also: <a href="https://www.businessinsider.in/after-bengaluru-mumbai-and-delhi-kochi-in-communist-party-led-kerala-wants-to-be-the-next-technology-startup-hub/articleshow/67522805.cms">An Indian state led by a communist party has built the country’s biggest home for technology startups</a> <a href="https://www.businessinsider.in/Indian-startup-founders-are-giving-up-ownership-too-early-and-thats-a-bad-idea/articleshow/67938329.cms">Indian startup founders are giving up ownership too early – and that's a bad idea</a>

Top CEOs from India are raising funds to set up a technology university

The Delhi chapter of <keyword id="139680" type="COMPANY" weightage="20" keywordseo="The-Indus-Entrepreneurs">The Indus Entrepreneurs</keyword> (TiE) will host on Thursday the 8th iteration of the <keyword id="4390638" type="PERSON" weightage="20" keywordseo="India-Internet-Day">India Internet Day</keyword>, one of the largest conferences for Internet entrepreneurs in the country. India Internet Day 2019 targets entrepreneurs which attracts start-ups, unicorns, industry leaders, investors, mentors, policy-makers, and many more key domain experts from across the country every year India is presently home to over 500 million internet users and 21 unicorns. With the aim of raising a hundred start-ups and enterprises to become billion-dollar companies on the back of their internet-centric innovations, TiE Delhi-NCR is hosting the 8th iteration of India Internet Day. The vision of #iDay2019 is encapsulated in the headline of the event’s main theme: “India Internet Unboxed: Getting ready for a 100 Unicorns”. Enabling the next generation of leaders At iDay 2019, leaders of the internet and entrepreneurial community will deliver content for the benefit of young entrepreneurs, enabling the next generation of leaders to gain a deeper insight into the opportunities and evolving trends in the industry, Tie said in a statement. Building on the theme of ‘unboxing’, iDay2019 plans to have focused and thought-provoking discussions during the session line-up on topics including: Unboxing Indian Tech Going Global, Unboxing Funding, Unboxing Talent, Entrepreneurial Milestones: Unboxing Pivots &amp; Pirouettes to Exits, Unboxing 2nd Innings, Unboxing Valuations. It will also have a special focus on the Chinese startup ecosystem, key speakers will speak on Unboxing China, its Landscape &amp; Overview, Chinese VCs in India - A perspective and Cross Border Learnings. Additionally, entrepreneurs will be provided with a platform to showcase internet-centric innovations and get constructive feedback on their ventures. All about networking The conference is one of the most anticipated entrepreneurial conferences across the world as it gathers entrepreneurs and vision-holders in the midst of key investors, industry leaders, and policy-makers under the same roof. It will have sessions that will chaired by prominent industry leaders including Vani Kola, MD, Kalaari Capital, and Rajesh Sawhney, CEO &amp; Co Founder of Innerchef, the conference will open with a keynote address by Vijay Shekhar Sharma, Founder &amp; CEO of PayTM. The opening address will be followed by conversations with industry experts including Anant Maheshwari, President - Microsoft India and Rajan Anandan, Vice President, Google &amp; President, TiE Delhi-NCR. Other ace speakers include Lathika Pai, Country Head - Microsoft for <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">Startups</keyword> MENA and SAARC , Gaurav Deepak, Co-founder &amp; MD - Avendus Capital, Anand Lunia, General Partner – India Quotient, Helen Wong, Partner at Qiming Venture, Yun Lou, Founder &amp; CEO of Clubfactory, Hans Tung - Partner, GGVC Kunal Shah, Founder &amp; CEO – Cred, Amrish Rau, Ex CEO – CitrusPay, Aprameya Radhakrishna, Founder &amp; CEO of Vokal, Raul Rai, Co-Founder of Nicobar.com, and Mukund Kulashekaran from Urban Clap. Power Breakfast with the iDay Committee The event will kick off with a breakfast with industry leaders and the best in the startup ecosystem. The committee members who will be a part of this event include Rajan Anandan, Vice President, Google &amp; President, TiE Delhi-NCR; Alok Mittal, Co-Founder, Indifi Technologies; Amarjit Singh Batra, Managing Director, Spotify India; Arvind Jha, Multipreneur, Movico Technologies; Miten Sampat, VP, Times Internet; Deep Kalra, Founder &amp; Group CEO, MakeMyTrip; Gautam Gandhi, Angel Investor; Prasanto K Roy, Policy Consultant ; Karan Mohla, Partner &amp; Executive Director of Chiratae Ventures; Ravi Gururaj, Founder &amp; CEO, Qikpod; Dev Khare, Partner, Lightspeed India Partners. B2B Founders' Lunch Ace B2B founders who will be part of this session include Shridhar Gupta, Co-Founder - Loconav; Pranav Tyagi, Founder - Eigen; Ajay Chauhan, Co- Founder -SalezShark; Sachin Bhatia, Co-Founder &amp; Ex VP - Drishtisoft solutions; Rahul Bhalla, CEO &amp; Co Founder -Zeanatix will be part of the lunch tables Fintech Lunch Leading Fintech founders who will be part of the lunch include Ajay Vikram Singh, Consumer Business Head- Clix Capital ; Jonathan Bill, CEO &amp; Co- Founder – Creditmate; Kshitij Puri, CEO &amp; Co- Founder - Ziploan ;Sandeep Srinivas, Co-Founder &amp; CMO - Redcarpet Tech ; Kapil Mehta, Co - Founder – SecureNow; Alok Bansal, Co-Founder &amp; CFO – PolicyBazaar ; Mukesh P Kalra, Founder &amp; CEO – ETMoney #iDay Launchpad A platform at India Internet Day where tech businesses have a chance to demo/launch their new products/services in front of a large relevant audience of VCs, entrepreneurs etc. The start-ups will be selected by an influential jury panel #iDay Workshop A stellar workshop on product management professionals with Anshumani Ruddra, VP of Product (Social &amp; Gaming) – Hotstar will equip participants with new strategies &amp; principles to ace their field Gala Evening Network, interact, explore synergies over dinner and jive the evening away with a rocking band performance! The conference will take place from 8:00 am to 6:00 pm on 25th April, 2019, at Leela Ambience, Gurugram. Register here now! <a href="https://www.iday.in/">https://www.iday.in/</a> Note: Business Insider India is a media partner at the event.

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Airtel launches new cybersecurity product with CISCO, Radware, VMware, and Forcepoint for enterprises — it took ₹100 crore and over a year to set up

Prabhjote Gill

Babri Masjid demolition case: CBI Special Court acquits all accused, judge says ‘demolition was not pre-planned’

Prabhjote Gill

Indian Navy takes to seas with Russia and QUAD countries

IANS

RBI's rate cut to support economy, say bankers

PTI

Top stock movers — RIL, Future Group companies, VA Tech Wabag, PNB, HDFC, and more

Navdeep Yadav

RBI records its largest-ever current account surplus — but that’s not necessarily a good thing

Prabhjote Gill

Top CEOs from India are raising funds to set up a technology university

Sanchita Dash

Here’s all that you need to know about the upcoming India Internet Day 2019

BI India Bureau