Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

In a bid to support meritorious and deserving Indian students to pursue their higher education without having to worry about funds, the government today announced the <keyword id="23831216" type="General" weightage="100" keywordseo="PM-Vidyalaxmi-scheme" source="keywords">PM-Vidyalaxmi scheme</keyword>. Here's all you need to know about it: The scheme will cover students who secure admission to one of the top 860 higher educational institutions in the country. In effect, this is set to benefit over 22 lakh students annually. You can apply for this loan via a soon-to-be launched consolidated PM-Vidyalaxmi portal. The loan application will be entirely digital and will not require collateral or assets to be pledged in place of a loan or even a guarantor. For loans up to Rs 7.5 lakh, the government will provide a 75% credit guarantee. If your family's annual income is up to Rs 8 lakh, you are eligible for receiving loans up to Rs 10 lakh at an interest rate of up to 3% lower rates. This support will be offered to around 1 lakh students every year, and those who opt for technical or professional courses from government-run institutions will be given preference for the same. The government has already set aside Rs 3,600 crore for the same, to be utilized between 2024 and 2031, benefiting 7 lakh students in this period. All eligible students whose family's annual income falls below the Rs 4.5 lakh threshold will receive a full subsidy on interest payable. As for which higher education institutions (HEIs) will qualify, it will depend on recent NIRF (National Institutional Ranking Framework) rankings. This will include: <ul><li>All centrally governed institutions</li><li>Public and private institutions that have made it to NIRF's top 100 rankings in the overall, category, and domain-specific categories</li><li>All state government HEIs that are ranked between 101 and 200 in <keyword id="22759868" type="General" weightage="20" keywordseo="NIRF-rankings" source="keywords">NIRF rankings</keyword> will also be eligible.</li></ul> <h2>Rising cost of education</h2> Data from NSSO (National Sample Survey Office) highlights that the average expenditure on education in India has doubled in the last decade. Per the All India Survey on Higher Education 2020-21, the tuition fees for engineering courses in most private institutions have already risen by 50% over the past 10 years. Education inflation currently stands high, at about 11–12%. The demand for educational loans is also inching up steadily. Per RBI data, as of September 20, 2024, the total quantum of outstanding education loans stood at Rs 62,389 crore, up 2.8% from Rs 60,715 crore in September 2023. India's largest lender, the State Bank of India, leads the education loan bandwagon, with disbursals worth Rs 10,860 crore in FY24.

Lack of funds stopping you from pursuing higher education? The government can come to rescue

The generative AI provides more <keyword id="20069513" type="General" weightage="20" keywordseo="opportunity" source="keywords">opportunity</keyword> to the Indian IT sector contrary to the believe of being a threat, highlighted a report by Nuvama Wealth Management. The report noted that although AI <keyword id="19901571" type="General" weightage="20" keywordseo="technology" source="keywords">technology</keyword> may initially disrupt the sector, especially in terms of business operations and billing models, the long-term benefits far outweigh the risks. "We, on the contrary, expect the Indian IT industry to come out stronger from the <keyword id="19906101" type="General" weightage="100" keywordseo="Gen-AI" source="keywords">Gen AI</keyword>-led disruption. We dig deep into various facets of Gen <keyword id="20037918" type="General" weightage="20" keywordseo="AI-adoption" source="keywords">AI adoption</keyword> for enterprises and find that Gen AI would create a mammoth incremental opportunity for <keyword id="20617562" type="General" weightage="20" keywordseo="Indian-IT-services" source="keywords">Indian IT services</keyword>," said the report. The report noted that as more enterprises adopt AI, the need for services such as upgradation of legacy code and data readiness for AI integration will increase, offering Indian IT firms new streams of revenue. The report mentioned one of the most significant opportunities lies in the modernization of <keyword id="21835113" type="General" weightage="20" keywordseo="legacy-systems" source="keywords">legacy systems</keyword>, particularly core banking systems (CBS). It stated that many <keyword id="19912054" type="General" weightage="20" keywordseo="financial-institutions" source="keywords">financial institutions</keyword> still use mainframe systems and outdated programming languages like COBOL. Gen AI enables automated code modernization, which will drive a major demand for Indian IT services to upgrade these systems, creating a long-term revenue stream. "Since most non-Indian (read European) do not have the scale to hire and deploy employees with the ability to code in COBOL (not to mention supply crunch)--they have ceded this opportunity to <keyword id="21817095" type="General" weightage="20" keywordseo="Indian-IT-Services-companies" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian IT Services companies" meta.hostid="261" meta.entityid="Indian IT Services companies">Indian IT Services companies</keyword>" said the report. The report specifically highlighted the "upgradation of legacy code" as a key area of opportunity for IT companies as businesses prepare their systems for AI integration. Gen AI is expected to create new service lines for Indian IT companies, including AI-based <keyword id="19945906" type="General" weightage="20" keywordseo="customer-service" source="keywords">customer service</keyword>, fraud detection, predictive maintenance, and knowledge processing. These AI-driven solutions will allow IT firms to offer higher-value services to clients, boosting revenue and profit margins. "Indian IT companies have always repositioned themselves to continue to do what they do best--service customers. That has provided them with the longevity they have commanded for multiple decades now. We do not see that changing this time as well" the report added. Comparing Gen AI to "a hammer looking for a nail," the report suggested that the technology's applications are still being discovered, but its potential is undeniable. Looking ahead, the report forecasts a strong start to FY25 for Indian IT companies, with growth driven by an optimistic outlook for the Banking, Financial Services, and Insurance (BFSI) sector, increasing technology spending, and large deal ramp-ups.

Gen AI to unlock a "mammoth incremental opportunity" for Indian IT services: Report

The share allotment for <keyword id="23625124" type="General" weightage="100" keywordseo="Waaree-Energies-IPO" source="keywords">Waaree Energies IPO</keyword>, which opened for subscription between October 21 and 23, is set to be finalized today. By tomorrow, i.e., October 25th, all bidders will receive information on whether or not they have been allotted shares. If you have applied, and in case your allotment is successful, funds will be debited from your accounts. On the other hand, if the allocation remains unsuccessful, your IPO mandates and blocked funds will be revoked. Waaree is set to list on both NSE and BSE on Monday, October 28th, 2024. Waaree's IPO worth Rs 4,321.44 crore received a thumping response from investors. Overall, the IPO was subscribed to around 79.44 times, with bids worth Rs 2,41,857.01 crore received against the issue size of Rs 4,321.44 crore. Not just in the retail category, which oversubscribed to the issue by 11.27x, Waaree also attracted massive interest from QIBs (<keyword id="20240741" type="General" weightage="20" keywordseo="qualified-institutional-buyers" source="keywords">qualified institutional buyers</keyword>), who subscribed a massive 215.03x to the offer, and Waaree's employees, who bid 5.45x times the issue potion kept aside for them. <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">Retail investors</keyword> bid for 11,16,95,301 shares, as against the 99,11,869 shares demarcated for their category. <h2>Highest ever number of applications</h2> As against the total allocated 2,02,56,207 shares, the markets bid for a staggering 1,60,91,61,741 shares. The IPO also set a record in terms of receiving the highest-ever applications (about 97.34 lakh) received by any IPO in India's history, particularly at the upper end of the Waaree's price band, which was between Rs 1,427 and Rs 1,503. Before this, Bajaj Housing Finance's IPO, which concluded in September 2024, held this record, receiving 89.07 lakh applications. One of India's biggest ever IPOs, the LICs offer worth Rs 21,008.48 crores had received around 52.98 lakh valid applications when it debuted on the bourses in May 2022. The company's GMP (grey market premium), which stood at Rs 1,550 at the end of today's trade, has been soaring exponentially in unofficial markets. With this, Waaree's estimated listing price stands at Rs 3,053, translating into a whopping 101.13% <keyword id="22471163" type="General" weightage="20" keywordseo="listing-gain" source="keywords">listing gain</keyword> per share for investors.

Waaree Energies: IPO receives maximum applications ever in Indian history, GMP soars beyond 100%

Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword> urged CEOs of US majors to take advantage of India's growth story as the country is making all efforts to become the third largest economy of the world in his third term. India is currently the fifth largest economy of the world after the US, China, Germany and Japan with a GDP of around USD 3.9 trillion. India has been the fastest growing large economies of the world with GDP growth rate of over 7 per cent for the last three consecutive years. Addressing CEOs of the large US tech firms on Sunday, Modi said India will make every effort to become the third largest economy in the world in his third term (2024-29). Companies should take advantage of India's growth story for collaboration and innovation by co-developing, co-designing, and co-producing in India for the world, harnessing the opportunities from the country's economic and technological growth, he said. Assuring the business leaders of India's deep commitment to the protection of intellectual property and to fostering tech innovation, Modi highlighted the economic transformation happening in the country, particularly in electronics and information technology manufacturing and semiconductors. Modi asserted that his government was committed to making India a "global hub of <keyword id="20073013" type="General" weightage="20" keywordseo="semiconductor-manufacturing" source="keywords">semiconductor manufacturing</keyword>". The meeting took place at the Lotte <keyword id="19904497" type="General" weightage="20" keywordseo="New-York" source="keywords">New York</keyword> Palace Hotel on Sunday during the second leg of Modi's three-day US visit. It saw the participation of CEOs of 15 major US-based firms working on cutting-edge technologies such as AI, quantum computing and semiconductors. "Had a fruitful roundtable with tech CEOs in New York, discussing aspects relating to technology, innovation and more. Also highlighted the strides made by India in this field. I am glad to see immense optimism towards India," Modi said in a post on X. During the conference, Modi said technology collaboration and efforts such as the Initiative on Critical and Emerging Technologies (ICET) lie at the core of the India-US Comprehensive Global Strategic Partnership, according to a Ministry of External Affairs press release. Organised by the Massachusetts Institute of Technology (MIT) School of Engineering, the CEOs of top US tech firms, including Google CEO Sundar Pichai, Adobe CEO Shantanu Narayena, Accenture CEO Julie Sweet and NVIDIA CEO Jensen Huang attended the meeting. Others who participated in the roundtable included AMD CEO Lisa Su, HP Inc. CEO Enrique Lores, IBM CEO Arvind Krishna, Dr Noubar Afeyan, Chairman of Moderna, and Verizon CEO Hans Vestberg. Modi also talked about India's BIO E3 (biotechnology for environment, economy and employment) policy to develop the country into a biotech powerhouse and on the topic of AI, noted that India's policy is to promote AI for all, underpinned by its ethical and responsible use. The CEOs appreciated India's growing prominence as a global technology hub, driven by its innovation-friendly policies and flourishing market opportunities. They also expressed strong interest in investing and collaborating with India, agreeing that investing in startups would be a synergistic opportunity to innovate and develop newer technologies in the country. Others who attended the conference included Biogen Inc CEO Chris Viehbacher, CEO of Bristol Myers Squibb, Chris Boerner, Eli Lilly and Company CEO David A. Ricks, LAM Research CEO Tim Archer, GlobalFoundries CEO Thomas Caulfield, and the CEO of Kyndryl, Martin Schroeter. "Further cementing technology and business connect. PM @narendramodi interacted with the top tech leaders and CEOs of USA, in a Roundtable hosted by the Massachusetts Institute of Technology School of Engineering, in New York today. PM emphasised India's growth prospects and discussed initiatives to foster collaborations and innovation across diverse sectors," the official account of the MEA said in a post on X. The prime minister had a separate meeting with Krishna P Singh, CEO of Holtec International, which is into nuclear and solar power generation. They discussed Holtec's plan for expanding manufacturing in India and advancing energy cooperation, PMO India said in a post on X. Earlier on Sunday, Modi addressed the <keyword id="20115166" type="General" weightage="20" keywordseo="Indian-diaspora" source="keywords">Indian diaspora</keyword> at the packed Nassau Veterans Coliseum on Long Island in New York. He also held bilateral meetings with world leaders at the sidelines of the UN General Assembly session here. Modi reached New York on Saturday after attending the Quad Leaders' Summit hosted by President Joe Biden in Wilmington, Delaware. <div type="Article" hostid="261" msid="113516805" title="Why is Indian Prime Minister Narendra Modi visiting the US this weekend?" mstype="2" mssubtype="0"></div>

PM Modi invites US CEOs to take a 'byte' out of India's growing technology sector

<ul><li><keyword id="22496070" type="General" weightage="20" keywordseo="AI-based-technology" source="keywords">AI-based technology</keyword> will be used for <keyword id="20074926" type="General" weightage="20" keywordseo="crowd-management" source="keywords">crowd management</keyword> at <keyword id="23948812" type="General" weightage="100" keywordseo="Mahakumbh-Mela-2025" source="keywords">Mahakumbh Mela 2025</keyword>.</li><li>Around 2,700 <keyword id="19997866" type="General" weightage="20" keywordseo="CCTV-cameras" source="keywords">CCTV cameras</keyword> are being installed at the fair area ahead of the event.</li><li><keyword id="19897919" type="General" weightage="20" keywordseo="social-media" source="keywords">Social media</keyword> platforms like Facebook and X will provide immediate assistance in locating lost relatives.</li></ul>As Prayagraj gears up for the festivities of Mahakumbh Mela 2025, AI-based technology will be used for crowd management for the convenience of devotees, SSP Mahakumbh Mela said. In a bid to ensure the safety and convenience of an estimated 45 crore devotees, the Yogi Adityanath government is preparing for the upcoming Maha Kumbh. For the first time, the grand event is being digitized on such a large scale, leveraging Artificial Intelligence (AI) and social media platforms to enhance management and security. "Around 2700 CCTV cameras are being installed in the district and the whole fair area. This will help us in crowd management... Cameras with AI features have also been installed in the area. These cameras will automatically send us alerts based on their feed. This step would be in addition to human intelligence. AI is adding to the information of human intelligence. We have already installed 25 police stations in the area and a total of 56 stations will be placed,” said Rajesh Dwivedi, SSP, Mahakumbh Mela. AI-powered cameras are being installed throughout the Kumbh site to monitor the massive crowd and ensure 24/7 surveillance. These state-of-the-art cameras will not only bolster security but also assist in reuniting individuals who may get separated during the event. In addition, popular social media platforms like Facebook and X will provide immediate assistance in locating lost relatives, streamlining the process of reuniting families amidst the sea of pilgrims. This time, visitors from across the country and abroad attending the Mahakumbh 2025 won't have to worry about losing their loved ones in the crowd. The Mela administration has devised an extensive plan to address this concern. A digital 'khoya paaya kendra' (lost-and-found centre) will go live on December 1, utilizing advanced technology to reunite separated individuals quickly and efficiently. The entire fair area is being equipped with 328 AI-enabled cameras, which have already been tested at four key locations. These cameras will monitor the crowd 24/7 and assist in locating lost individuals. Under the directives of the Yogi government, the large-scale installation of these cameras is in its final stages. The digital lost-and-found centres will immediately register every missing person's details digitally. Once registered, the AI-powered cameras will begin searching for the individual. Additionally, information about missing persons will be shared on social media platforms like Facebook and X (formerly Twitter), making it easier to locate them quickly. Face recognition technology will be used at the Maha Kumbh to identify individuals who get separated from their loved ones. This advanced system will work instantly, capturing photographs and identifying individuals among the estimated 45 crore attendees. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/oppo-find-x8-and-find-x8-pro-launched-in-india-starting-at-69999/articleshow/115521010.cms">Oppo Find X8 and Find X8 Pro launched in India starting at ₹69,999</a> <a href="https://www.businessinsider.in/tech/mobile/news/android-16-developer-preview-announced-new-features-timeline-and-everything-you-need-to-know/articleshow/115476441.cms">Android 16 Developer Preview announced – new features, timeline and everything you need to know</a> <a href="https://www.businessinsider.in/tech/news/indian-wearables-market-declines-20-7-in-q3-2024-smartwatch-and-earwear-categories-struggle/articleshow/115447720.cms">Indian wearables market declines 20.7% in Q3 2024, smartwatch and earwear categories struggle</a>

AI-based technology to be used for crowd management at the Mahakumbh Mela 2025

Emerging technologies are set to revolutionise India’s workforce and can generate an additional 2.73 million tech jobs by 2028, according to ServiceNow’s AI Skills and Jobs Report. This growth comes amid India’s overall workforce expansion, expected to reach 457.62 million by 2028—a 33.9 million increase since 2023. ServiceNow, through partnerships and its ‘RiseUp’ program, aims to bridge the skills gap, positioning India as a competitive force in the global tech arena. Retail, manufacturing, education, and healthcare are projected to experience robust job creation, with retail alone expected to add 6.96 million roles. Professionals in these sectors have opportunities to upskill in areas such as software development and data engineering. Meanwhile, demand for tech roles like Software Application Developers, Systems Software Developers, and Data Engineers is expected to surge, driven by expanding sectors like manufacturing and telecommunications. Generative AI is also reshaping tasks within tech roles, increasing efficiency and automating routine processes. Systems Administrators, AI Systems Engineers, and Implementation Consultants, for example, will gain hours back each week as AI automates tasks. ServiceNow reports a $5 million cost savings and productivity boost from using generative AI across its operations, illustrating the practical impact of AI-led automation. To build a tech-ready talent pipeline, ServiceNow has been proactive, training over 97,000 Indians through its ‘RiseUp with ServiceNow’ initiative in the past year. The company’s University Academic Program, launched with government partnerships and institutions like NASSCOM’s FutureSkills Prime, is ensuring graduates possess job-ready digital skills, strengthening India’s tech ecosystem. With AI as a critical driver, India is expected to see a significant workforce transformation, meeting both domestic and global demand for skilled tech professionals.

AI can create 2.7 million tech jobs by 2028 in India, study says

Defence Research and Development Organisation (<keyword id="19948662" type="General" weightage="20" keywordseo="DRDO" source="keywords" meta.keywordsubtype="org" meta.entityname="DRDO" meta.hostid="261" meta.entityid="DRDO">DRDO</keyword>) will collaborate with <keyword id="19906424" type="General" weightage="20" keywordseo="Indian-Institute-of-Technology" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian Institute of Technology" meta.hostid="261" meta.entityid="Indian Institute of Technology">Indian Institute of Technology</keyword> (<keyword id="19906425" type="General" weightage="20" keywordseo="iit" source="keywords">IIT</keyword>) Bhubaneswar for artificial intelligence (AI) driven surveillance and other projects, officials said. A meeting was held between DRDO and <keyword id="19971391" type="General" weightage="20" keywordseo="IIT-Bhubaneswar" source="keywords" meta.keywordsubtype="org" meta.entityname="IIT Bhubaneswar" meta.hostid="261" meta.entityid="IIT Bhubaneswar">IIT Bhubaneswar</keyword> officials here on Tuesday. Binay Das, director general (DG) of Electronics and Communication Systems (ECS) cluster, DRDO, and many senior scientists and officials of both institutions were present in the meeting. During the meeting, nine sanctioned projects of the ECS Cluster of DRDO were handed over to IIT Bhubaneswar while another 7 projects are in process to be sanctioned with Rs 18 crore funding. IIT Bhubaneswar will work on the sanctioned projects, which would be beneficial in electronics warfare, <keyword id="21571619" type="General" weightage="20" keywordseo="AI-driven-surveillance" source="keywords">AI-driven surveillance</keyword>, power systems, radar systems etc, officials said. S R Samantaray, head of the School of Electrical sciences of IIT said the collaboration of IIT Bhubaneswar and DRDO will contribute to the emerging research and development need of defence applications, creating a platform for 'Atma Nirbhar Bharat'. This form of collaboration will enhance the sustainability of defence research programmes and will be part of the eco-system for nation building, he said. Speaking on the occasion, Binay Das advised researchers and faculty members associated with various DRDO-sanctioned projects to work systematically with proper review and risk management systems to complete the projects in time and come up with unique solutions. He said that DRDO is going through a transformation from technology chasers to become technology enablers and trendsetters. "The goal is now to move beyond attaining self-reliance to setting standards for the Indian armed forces, for others across the globe, to emulate. In this context, this collaboration, and the further opportunity to set up a Centre of Excellence at IIT Bhubaneswar would prove crucial," he added. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/aadhar-housing-finance-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/109919298.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/aadhar-housing-finance-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/109919298.cms" target="_blank">Aadhar Housing Finance IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank">Top-selling cars in India in April 2024 – Tata Punch continues to dominate</a><a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank">Worldwide tablet shipments grow in Q1 2024 after two years of decline</a>

DRDO to collaborate with IIT Bhubaneswar for AI-driven surveillance, other projects

An affordable <keyword id="9107118" type="General" weightage="20" keywordseo="tuberculosis-testing" source="Orion">tuberculosis testing</keyword> technology that can detect the disease using a patient's sputum for just Rs 35 has been developed by apex medical research body <keyword id="19918794" type="General" weightage="20" keywordseo="ICMR" source="keywords">ICMR</keyword>'s regional centre in Assam's Dibrugarh. The 'A <keyword id="19986036" type="General" weightage="20" keywordseo="CRISPR" source="keywords">CRISPR</keyword> case-based TB detection system' is light, portable and involves three steps of testing. Over 1,500 samples can be tested in one single run in around two-and-half hours, ICMR sources said. Conventional diagnostic techniques for TB commonly rely on culture, which requires 42 days to confirm as TB negative, microscopy, and nucleic acid-based methods. These are also time-consuming and may require sophisticated equipment. An official said, "<keyword id="19992404" type="General" weightage="100" keywordseo="Tuberculosis" source="keywords">Tuberculosis</keyword> (TB) remains a global health challenge, necessitating the development of accurate and rapid diagnostic tools for effective disease management. Current <keyword id="22921102" type="General" weightage="20" keywordseo="diagnostic-methods" source="keywords">diagnostic methods</keyword> often exhibit limitations in terms of sensitivity, specificity, speed and cost, emphasising the need for innovative approaches". Additionally, some molecular diagnostic methods, while offering improved sensitivity, may lack the desired specificity or face challenges associated with cost and ease of handling. "Considering these problems, the CRISPR-Cas12a-based molecular diagnostic system 'GlowTBPCRKit' coupled with an amplification step (using thermal cycler) and the '<keyword id="22921103" type="General" weightage="20" keywordseo="RapidGlow-device" source="keywords">RapidGlow device</keyword>' provides a promising solution," the official said. The Indian Council of Medical Research (ICMR) has now invited Expression of Interest (EoI) from eligible organisations, companies, manufacturers for undertaking 'Transfer of Technology' for commercialisation of the 'A CRISPR case-based TB detection system' for the detection of <keyword id="20115212" type="General" weightage="20" keywordseo="Mycobacterium-tuberculosis" source="keywords">Mycobacterium tuberculosis</keyword>. The ICMR-RMRCNE institute will provide expert guidance and technical support for the production of 'A CRISPR Cas based TB detection system' in all phases. Such technical oversight by the institute would accelerate the development of the product and its commercialisation. The ICMR would also provide technical support through its team of experienced scientists in study, planning, product development, development of study protocol, results or data analysis, outcome assessment, safety and efficacy assessment, product improvement, etc., if deemed fit upon the mutual understanding between ICMR and collaborative company. The apex health research body through its institutes would provide support and facilitation to conduct the research and development or clinical study of new technology or product in India through its affiliates or institutes, in collaboration with the company and institutions in a professional and mutually agreed upon manner and timelines.

ICMR's regional centre develops technology that can test for tuberculosis in just Rupees 35!

Recognising the impact of <keyword id="20181892" type="General" weightage="20" keywordseo="digitisation" source="keywords">digitisation</keyword> in the country, <keyword id="19990557" type="General" weightage="20" keywordseo="SP-Global" source="keywords" meta.keywordsubtype="org" meta.entityname="S&amp;P Global" meta.hostid="83" meta.entityid="S&amp;P Global">S&amp;P Global</keyword> Ratings said that the state-backed <keyword id="20327350" type="General" weightage="20" keywordseo="digital-initiatives" source="keywords">digital initiatives</keyword> will underpin a tripling of <keyword id="22663033" type="General" weightage="100" keywordseo="Indian-retail-borrowing" source="keywords">Indian retail borrowing</keyword> by 2030, lifting Indian households' debt to about USD 2.5 trillion or about 34 per cent of GDP. "Digital Initiatives Could Triple India's <keyword id="20971681" type="General" weightage="20" keywordseo="retail-lending" source="keywords">Retail Lending</keyword> By 2030," noted that technology has already boosted India's <keyword id="21807459" type="General" weightage="20" keywordseo="financial-inclusivity" source="keywords">financial inclusivity</keyword>, lifting basic savings account ownership to about 77 per cent, up from 35 per cent in 2011. India's micro-loan borrowers have an average Indian rupee of 35,156 (about USD 400) of borrowing according to the National Bank For Agriculture And Rural Development (NABARD), the rating agency cited in its report. The growth in retail lending could include an even faster increase in <keyword id="22663034" type="General" weightage="20" keywordseo="micro-loans" source="keywords">micro-loans</keyword>, primarily to previously excluded low-income earners, with such loans potentially accounting for about 7 per cent of household debt by 2030, the rating agency said. The report further underscored the significance of the digitisation process in the country saying that it has enabled mass access to savings accounts and digital payments. However, it said that the penetration of credit is still underwhelming, adding that just 12 per cent of Indians over the age of 15 had borrowed from a <keyword id="22663279" type="General" weightage="20" keywordseo="formal-financial-institution" source="keywords">formal financial institution</keyword> before 2021. This is less than half the global average of 28 per cent, as per the report. "Borrowing from formal financial institutions among lower earners is even less frequent, meaning many households have little access to capital for investment that might help them escape poverty and, in turn, support India's long-term economic growth, the report added. The S&amp;P also noted that improved digital payment infrastructure is helping lenders collect payments, reducing barriers to lending-market competition. "We expect that will strengthen India's economy and provide growth opportunities for the financial sector, " It added. The report further underscored the significance of the Pradhan Mantri Jan Dhan Yojana, Aadhaar, and Mobile penetration. Going forward, the report hailed the leading position of banks in retail lending. "Tech-savvy private sector banks and finance companies are leading the growth in retail lending. Finance companies are the dominant player in mass-market loans, accounting for 70 per cent to 85 per cent of loan origination for commercial vehicles, small ticket personal loans, consumer durables, and two-wheel vehicles," the report said which was released earlier this week. Additionally, the finance companies had a market share of about 40 per cent in affordable housing loans, as of September 2022, according to the report. The global rating agency observed that finance companies and small finance banks are leading the microfinance segment, which is playing a key role in improving financial inclusion for India's unbanked and underbanked. The total value of microloans has grown at a compound annual growth rate (CAGR) of 18 per cent for the last three years and now accounts for about 2 per cent of total loans, the report said citing the figures of Equifax, an American multinational consumer credit reporting agency.

Digital initiatives to triple Indian retail borrowing to USD 2.5 trillion by 2030: S&P Global

<ul class="summary-list"><li>Trading firm Susquehanna is dipping its toe into sports gambling.</li><li>The space has exploded in the US as dozens of states have legalized <keyword id="20103900" type="General" weightage="20" keywordseo="online-gambling" source="keywords">online gambling</keyword>.</li></ul>Quants and gambling have been intertwined from the start. Math professor and first-generation quant trader Ed Thorp first rose to fame because he laid out the blueprint for counting cards in blackjack in his 1962 book "Beat the Dealer." A typical night for the late founder of <keyword id="21613450" type="General" weightage="20" keywordseo="Renaissance-Technologies" source="keywords" meta.keywordsubtype="org" meta.entityname="Renaissance Technologies" meta.hostid="261" meta.entityid="Renaissance Technologies">Renaissance Technologies</keyword>, Jim Simons, when he was an undergrad at MIT included long-running poker games with his classmates. A <a target="_blank" href="https://www.scientificamerican.com/article/quants-book/">now-infamous poker charity tournament in 2006</a> had some of the biggest names in hedge funds competing, including Citadel's Ken Griffin, AQR's Cliff Asness, and PDT's Peter Muller, who came out on top. But they all knew the real money was in the markets, not poker pots. While some quant types have made their fortunes gambling — such as Bill Benter, <a href="https://www.bloomberg.com/news/features/2018-05-03/the-gambler-who-cracked-the-horse-racing-code" target="_blank">the man who "cracked" horse racing</a> — the most ambitious chased basis points, not parlays. Until now. Trading giant Susquehanna <a target="_blank" href="https://www.ft.com/content/88ba9e42-09c2-480a-8b21-43051707f84d">has built out a 15-person unit focused on </a>sports gambling in Dublin and plans to expand into the US. The number of "well-informed, deep-pocketed users" is growing on Novig, a <keyword id="22230743" type="General" weightage="100" keywordseo="sports-betting" source="keywords">sports betting</keyword> exchange, the startup's founder Kelechi Ukah told Business Insider. With sports gambling exploding in popularity in the US thanks to dozens of states allowing online betting, these traders —known to use copious amounts of data and sophisticated programs to trade securities in markets around the world — are diving in in search of serious profits in a nascent space. The increased presence of top-level quant firms is going to cut into the wins of the average gambler even more, said Jacek Dmochowski, a professor at the City College of New York who has studied the "optimal" way to gamble on sports. Sports gambling in the US is no longer a business done under the table with a shady bookie or on a Las Vegas bachelor party trip. Every night, millions are betting on college and professional games, some to the point of no return — <a target="_blank" href="https://www.nbcnews.com/business/consumer/online-sports-gambling-bankrupting-households-reducing-savings-rcna167235">a study from UCLA</a> found that states that legalized gambling have seen a 28% increase in bankruptcies compared to those that didn't. Through the second quarter of this year, online gambling site <keyword id="23047077" type="General" weightage="20" keywordseo="FanDuel" source="keywords" meta.keywordsubtype="org" meta.entityname="FanDuel" meta.hostid="261" meta.entityid="FanDuel">FanDuel</keyword> averaged 3.3 million bettors each month. Flutter Entertainment, the owner of Irish gambling company Paddy Power and US-based DraftKings, made more than $7 billion in revenue across its different units in the first half of the year. Executives at MGM spoke on their earnings call at the end of July about timing product releases for the start of football season. While the limits for many of these online platforms are relatively small compared to the trades the world's smartest quants are typically putting on, the space is growing rapidly. "Sportsbooks will have to basically alter their lines in response" to large wagers from <keyword id="23774657" type="General" weightage="20" keywordseo="trading-firms" source="keywords">trading firms</keyword>, Dmochowski said. "That's going to make it harder for the betting public to make a profit." <h2>Easy wins are already vanishing</h2>The trading firms that are slow to move have already missed out on low-hanging fruit. "It's a very similar dynamic to the electronicification of securities marketplaces in the 70s and 80s," said Ukah, the cofounder of Novig and a one-time Jane Street intern. Just as stock trading evolved from a phone call with a broker who would charge a commission to discount to online brokerages like eTrade to algorithmic trading shops, sports betting has gone from a personal relationship with a bookie to platforms like FanDuel. "The final stage is the algorithmic execution phase," he said. Already, the smartest Novig users are sanding away the easiest returns. Novig, which pulls in odds from different sportsbooks, has seen arbitrages between different sportsbooks' odds disappear after a few seconds now. Two years ago, it was several minutees, Ukah said. "Everyone is much tighter," Ukah said. Dmochowski predicts an "algorithm arms race" between traders and sportsbooks to find "the optimal price." There's demand from Novig users for the exchange to release software that would allow traders to program a bot to trade for them. Ukah said there's no timeline at the moment to release this, but said the portion of the gambling market growing the quickest is from institutions. "It's an uncorrelated, high-volatility asset class," Ukah said. In other words, exactly what trading shops are looking for. Correction: October 29, 2024 — An earlier version of this story misspelled the surname of a famed horse-racing gambler. It's Benter, not Bentley.

Sports betting is the next frontier for Wall Street's smartest quants to conquer 

<keyword id="19932515" type="General" weightage="20" keywordseo="foreign-institutional-investors" source="keywords">Foreign institutional investors</keyword> have turned bullish on the <keyword id="19976433" type="General" weightage="20" keywordseo="financial-services" source="keywords">financial services</keyword> and telecom sectors. The <keyword id="21243793" type="General" weightage="20" keywordseo="NSDL-data" source="keywords">NSDL data</keyword> for the second half of June 2024, suggests that FIIs and have bought shares worth over Rs 8,162 crore in the financial services sector and shares worth Rs 6208 crore in the telecom segment. In the first half of June they have invested Rs 1008 crore in the financial services sector and Rs 1736 crore in the telecom. The <keyword id="19949396" type="General" weightage="20" keywordseo="Indian-equity-market" source="keywords">Indian equity market</keyword> witnessed a significant boost in the latter half of June 2024, with FII reaching Rs 29,628 crore from June 16- 30. This influx of foreign capital highlights the growing confidence of international investors in India's economic prospects and its market potential. The investment influx was led by substantial contributions across key sectors, demonstrating the diversified interest of foreign investors in the Indian economy The financial services sector attracted the highest investment, with FIIs pouring in Rs 8,162 crore. This substantial inflow reflects investor confidence in India's robust banking system, burgeoning fintech landscape, and the resilience of the financial sector amidst global economic uncertainties. Telecommunications sector received the second-highest investment, amounting to Rs 6,208 crore. The sector's growth is driven by increasing mobile and internet penetration, advancements in 5G technology, and the expansion of digital infrastructure. This investment highlights the sector's critical role in India's digital transformation. The consumer services sector saw <keyword id="19895633" type="General" weightage="20" keywordseo="investments" source="keywords">investments</keyword> totaling Rs 3,097 crore, indicating robust investor interest in India's domestic consumption story. The sector encompasses a wide range of services, including retail, e-commerce, and hospitality, which have been experiencing significant growth due to rising consumer spending and changing lifestyles. The capital goods sector attracted Rs 2,929 crore in investments, reflecting a positive outlook on India's manufacturing and infrastructure development. Investments in this sector are crucial for enhancing the country's industrial capabilities and supporting the 'Make in India' initiative, which aims to transform India into a global manufacturing hub. The healthcare sector received Rs 2,886 crore, underscoring the growing importance of medical infrastructure, pharmaceuticals, and biotechnology. FIIs bought Rs 2054 crore in auto, Rs 1578 crore in IT, Rs 1475 crore in construction materials, and Rs 1048 crore each in oil &amp; gas, consumer durables, and chemicals stocks. Meanwhile, foreign investors remained net sellers in power, metals, and FMCG stocks. In June, they sold around Rs 2439 crore in power, Rs 1128 crore in metals, and Rs 677 crore in FMCG. In May, FIIs had sold Rs 2439 crore in power, Rs 1128 crore in metals, and Rs 677 crore in FMCG sectors. The increased FII in India comes amid global economic uncertainties, including inflationary pressures, fluctuating commodity prices, and geopolitical tensions. Despite these challenges, India's economic fundamentals, including a stable macroeconomic environment, strong growth outlook, and investor-friendly policies, have made it an attractive destination for foreign investors. (ANI) SEE ALSO:<a href="https://www.businessinsider.in/sports/webstories/virat-kohli-not-included-in-the-rohit-sharma-led-icc-team-of-the-tournament/slidelist/111398470.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/virat-kohli-not-included-in-the-rohit-sharma-led-icc-team-of-the-tournament/slidelist/111398470.cms" target="_blank">Virat Kohli not included in the Rohit Sharma-led ICC Team of the Tournament</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-july-2024/slidelist/111341281.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-july-2024/slidelist/111341281.cms" target="_blank">Upcoming cars launching in India in July 2024</a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank">Reliance Jio and Airtel price hike – new plans and how you can save money</a>

You Searched For "Indian Institutes of Information Technology" and got 11 results

Lack of funds stopping you from pursuing higher education? The government can come to rescue

BI India Bureau

Gen AI to unlock a "mammoth incremental opportunity" for Indian IT services: Report

ANI

Waaree Energies: IPO receives maximum applications ever in Indian history, GMP soars beyond 100%

Ira Alok Puranik

PM Modi invites US CEOs to take a 'byte' out of India's growing technology sector

PTI

AI-based technology to be used for crowd management at the Mahakumbh Mela 2025

BI India Bureau

AI can create 2.7 million tech jobs by 2028 in India, study says

BI India Bureau

DRDO to collaborate with IIT Bhubaneswar for AI-driven surveillance, other projects

PTI

ICMR's regional centre develops technology that can test for tuberculosis in just Rupees 35!

PTI

Digital initiatives to triple Indian retail borrowing to USD 2.5 trillion by 2030: S&P Global

ANI

Sports betting is the next frontier for Wall Street's smartest quants to conquer

Bradley Saacks

FII's bullish on financial services and telecom segment as per June 2024 NSDL data

ANI

Popular Keywords

Buying Guides