Business – Page 2 – Bengaluru Bytes

Flipkart to turn off PhonePe, digital payments business esteemed at $5.5 billion

5Dec

By Manas KhuranaNo Comments

Flipkart to turn off PhonePe, digital payments business esteemed at $5.5 billion

Walmart Inc-controlled Indian e-commerce firm Flipkart said on Thursday it was incompletely turning off PhonePe in a move pointed toward augmenting the digital payments platform's access to funding to fuel its development. PhonePe will bring $700 million up in essential capital, Bengaluru-based Flipkart said in an explanation. "Recognizing the momentum that has been achieved, as well as PhonePe’s significant growth potential, Flipkart’s Board determined that this was the right time to partially spin-off PhonePe so it can access dedicated capital to fund its long-term ambitions over the next three to four years," Flipkart said. The funds will be collected at a post-cash valuation of $5.5 billion from existing Flipkart speculators drove by Walmart, the assertion said. Flipkart will ke...

RBI’s swift resolution of Lakshmi Vilas Bank to keep up sector stability: S&P

19Nov

By Yash MehtaNo Comments

Business

RBI’s swift resolution of Lakshmi Vilas Bank to keep up sector stability: S&P

S&P Global Ratings on Thursday said the Reserve Bank of India's swift resolution of troubled Lakshmi Vilas Bank will keep virus under control and help keep up soundness in the banking system. The Reserve Bank has proposed merging Lakshmi Vilas Bank (LVB) with DBS Bank India Ltd (DBIL). As a feature of the proposition, DBIL, the entirely possessed auxiliary of Singapore-based DBS Bank, will infuse Rs 2,500 crore into the consolidated substance to help its financial position. S&P said this arrangement is positive for India's financial area and will carry genuinely necessary help to LVB, which has been battling for a long time. The Reserve Bank of India (RBI) had put the private-area loan specialist under brief restorative activity (PCA, or under watch by the national ban...

Wipro’s Azim Premji gave Rs 22 Crore a day in 2020, becomes “Most Generous” Indian

11Nov

By Manas KhuranaNo Comments

Business

Wipro’s Azim Premji gave Rs 22 Crore a day in 2020, becomes “Most Generous” Indian

Wipro's Founder Chairman Azim Premji and his family have topped the EdelGive Hurun India Philanthropy List 2020 with commitment of Rs 7,904 crore. The report counted Premji's gift at Rs 22 crore for each day. The Founder Chairman of HCL Technologies, Shiv Nadar, and his family positioned second, trailed by most extravagant Indian Mukesh Ambani, the Chairman of Reliance Industries (RIL), in the third spot. Nadar and his family contributed Rs 795 crore for admirable missions while Ambani and family's commitments remained at Rs 458 crore. Rishad Premiji, Azim Prenji's child took to twitter to share his dad's philosophy on weath after he was named the "most generous" India. "My father has always believed that he was a trustee of his wealth and never its owner," wrote Rishad Premji. "...

Karnataka defines SOPs for colleges resuming from November 17

10Nov

By Gunjan SaxsenaNo Comments

Business

Karnataka defines SOPs for colleges resuming from November 17

The department of higher education has planned SOPs (standardized operating procedure) according to the UGC rules, considering the opening of degree, engineering, and diploma colleges in the state from November 17. Deputy Minister Dr CN Ashwatha Narayana, who is additionally the minister of higher education informed on Monday that planning is in progress to enable the beginning of the off-line classes. “The SOP has separate advisories set for the students of the final year and the classes will be conducted accordingly. Likewise, there are separate advisories set for the students of first and second-year students of the courses,” he said. Postgraduate and last year students who wish to go to classes truly ought to get the consent letter of their parents in the recommended appropri...

Kannada classical center prompts to new bases

6Nov

By Gunjan SaxsenaNo Comments

Business

Kannada classical center prompts to new bases

The Center of Excellence for Studies in Classical Kannada (CESCK) moved to its new premises at the University of Mysore campus on Saturday in a move expected to help research on the language. The CESCK worked every one of these years out of the CIIL premises. An extensive office was given to it in the structure of the National Center for History of Science at Manasagangotri. Specialists and littérateurs who graced the virtual event to mark the event and celebrate the Kannada Rajyotsava, laid the broad contours and the work that should be embraced on need. Jnanpith awardee and Kannada littérateur Chandrashekar Kambar who made a virtual location said Indian dialects have an ancient past and an abundance of writing however English has usurped the situation of a link language because of...

Karnataka to settle on returning of schools on Wednesday

3Nov

By Yash MehtaNo Comments

Business

Karnataka to settle on returning of schools on Wednesday

Karnataka's arrangement to return schools hit a detour as the planned gathering of the concerned authorities couldn't be hung on Monday and has been rescheduled for November 4. After the Andhra Pradesh government resumed schools for classes 9 to 12 on Monday, the Karnataka government also wanted to think on this model for three days with authorities worried prior to declaring its ultimate conclusion. Therefore, the gathering was met yet because of specialized glitches, the gathering must be canceled suddenly. Addressing correspondents, Primary and Secondary Education Minister S Suresh Kumar stated, "We are seriously studying the Andhra Pradesh model for reopening of schools. Prior to taking any decision, we need to examine everything as it is a question of students' lives." He added th...

BBMP to begin white-topping close to Okalipuram

29Oct

By Vedika KulkarniNo Comments

Business

BBMP to begin white-topping close to Okalipuram

The poor street condition on the road beneath the Okalipuram railway bridge and prompting the eight-path corridor has drawn the consideration of the Bruhat Bengaluru Mahanagara Palike (BBMP) chief for the third time. This time, BBMP Commissioner N Manjunatha Prasad has said that with the expanding water seepage and the poor street condition, it has been decided to embrace white topping work on the stretch at the earliest. Notwithstanding, street engineers said that it can't be taken up promptly as the eight-path corridor work is inadequate and street construction will hamper the site works. This lone implies that commuters should endure the experience of waterlogging during rainy days. A BBMP engineer said, “White topping on the stretch is required as the area gets flooded becaus...

New Hyundai i20 to be launched in India in the first week of November

27Oct

By Vedika KulkarniNo Comments

Business

New Hyundai i20 to be launched in India in the first week of November

Hyundai India released the first sketches of the new-gen i20, units of which have just started showing up at dealerships. Everyone would now be able to affirm that the third-gen i20 will be launched in India in the first week of November. Highlight features of the new India-spec Hyundai i20 incorporate the signature cascading grille, projector headlamps, triangular-shaped fog light surrounds, new diamond-cut alloy wheels, Z-shaped LED taillights, a chrome strip running into the length of the bootlid, back guard mounted number plate recess, back washer and wiper, and a shark-fin antenna. Inside, the next-gen Hyundai i20 comes outfitted with a completely digital instrument console, directing mounted controls, huge touchscreen infotainment system, wireless charging, four-spoke steering...

Food aggregators like Swiggy return to wrinkle, politeness IPL

23Oct

By Vedika KulkarniNo Comments

Business

Food aggregators like Swiggy return to wrinkle, politeness IPL

The Indian Premier League (IPL) has not quite recently carried cheers to the amusement starved cricket fans during COVID-19, yet has likewise proceeded to restore the matter of food aggregators and restaurant administrators, for example, Swiggy, which guarantee to have accomplished 150-200 percent of the pre-COVID order value in select markets. IPL 2020 began in the UAE on September 19 and will end on November 10. The recuperation has likewise been driven by opening up of restaurants, which is expanding the flexibly and a more extensive acknowledgment of food ordering among individuals, post the pandemic. Given that customers appreciate eating while at the same time watching matches, bites and pastries, for example, frozen yogurts, samosas and fries, explicitly, have seen a 15-20...

Kannada-English dictionary is now online after 40 years

21Oct

By Yash MehtaNo Comments

Business

Kannada-English dictionary is now online after 40 years

A full 126 years after the publication of German missionary Ferdinand Kittel's complete Kannada-English dictionary, a comparable, however, a more thorough one is out. While Kittel's dictionary has around 60,000 words, the Kannada-English dictionary incorporated by V Krishna, a lexicographer situated in Bengaluru, has about 1.6 lakh words. Alar, as the new dictionary is called, is an authoritative dictionary with 2.4 lakh English definitions, and is the biggest, most authoritative open-source dictionary in the world, as per Zerodha, a brokerage firm which has teamed up with Krishna. Alar methods bloom in Kannada. In 2018, the Zerodha team talked about the thought with Krishna and granted him an award. Kailash Nadh, chief technology officer of Zerodha, says, “I have been running Ol...