Indian startups bet on AI in 2017: Report

 As data science gets set to drive the artifical intelligence (AI) market in 2017, a few Indian startups are initiating development of conversational bots, speech recognition tools, intelligent digital assistants and conversational services to be built over social media channels, a joint study by PwC-Assocham said on Thursday.

Organisations are looking to leverage AI capabilities

Mortgage Guarantee Corporation bets big on affordable housing

In a bid to boost affordable housing, the Indian Mortgage Guarantee Corporation (IMGC) has launched a mortgage guarantee-linked home loan product, reported PTI. "In our attempt to give a leg-up to affordable housing under the Pradhan Mantri Awas Yojana (PMAY), we have launched a mortgage guarantee-linked home loan product for low and moderate income households," IMGC chief executive A

New Rs 10 notes with more security coming soon

The Reserve Bank (RBI) will soon issue Rs 10 denomination notes with enhanced security features for circulation. The RBI today said the banknotes in the Mahatma Gandhi series-2005 are to carry inset letter 'L' on both number panels, bearing the signature of Governor Urjit Patel. The year of printing, 2017, will be on the reverse of the note.

Among other features, numerals on b

Uber to stop using secret tool to evade regulators

Cab-hailing app Uber will stop using its "Greyball" tool to evade law enforcement regulators, the company announced, just days after it defended the controversial programme as necessary to protect its drivers from harm.

"We have started a review of the different ways this technology has been used to date," The Guardian reported, citing Uber's Chief Security Off

Railways to invest $ 140 bn to modernise rail network: Reports

The Indian Railways has said that it is planning to invest USD 140 billion to modernise its rail network over the next five years and is in talks with UAE-based sovereign wealth funds. Commenting on the issue, Railways Minister Suresh Prabhu told the media, "Of the $ 140 billion we will be investing over the next five years, the majority will go towards India's modernisation efforts, t

Women entrepreneurs to get special benefits under UDAN scheme

A top Official has said that women entrepreneurs will get a single window clearance and other benefits to start an airline under the regional air connectivity scheme. Commenting on the issue, Civil Aviation Secretary R N Choubey told the media, "Regional Connectivity Scheme is an opportunity whereby women can set up a brand new airline... I assure that women will get special treatment. We

Government to make air travel from Delhi to remote areas cheaper: Reports

The AAP government has said that it has slashed VAT on Air Turbine Fuel (ATF) from existing 25 per cent to one per cent to complement the Centre's regional connectivity scheme (RCS) to make air travel from Delhi to remote areas cheaper. Commenting on the issue, Deputy Chief Minister Manish Sisodia told the media, “The cut in VAT on ATF will be applicable for direct flights between Del

Industrial park exclusively for women unveiled in Hyderabad

An industrial park exclusively for women entrepreneurs was unveiled here on the occasion of International Women's Day on Wednesday.

Telangana's Industries and Commerce Minister K. T. Rama Rao unveiled FICCI Ladies Organisation(FLO) Women Green Industrial Park at a function held at Telangana State Industrial Infrastructure Corporation (TSIIC) office.

The minister hand

Sebi goes digital on all payments

Sebi has notified new norms to give an option to market intermediaries and companies to make their regulatory payments in digital mode, reported PTI. The Securities and Exchange Board of India (Sebi) has amended various regulations to enable the market participants to make payments to it through digital mode as well, the regulator said in a notification dated March 6. The decision comes after S

Innovation is key to put FMCG growth on fast track: Experts

Innovation will be a key driver to reignite growth in the fast-moving consumer goods (FMCG) sector, which has seen a slowdown in the last three years, according to industry experts, reported PTI. "One of the drivers of growth for the industry in the next 5 to 10 years is innovation. We, as a sector, haven't innovated enough. The biggest innovation has come from people outside the tradi

Indian drug makers can export patented medicines for approval: HC

Indian generic drug makers have the fundamental right to make, sell and export patented medicines for purposes of regulatory approval and clinical trials, the Delhi High Court ruled according to the PTI report. "The right of manufacturers/producers of medicines and of fine chemical producers, to make, construct and sell including by way of export, a patented invention, for the purposes pre

IRDAI clears different licences to new players

Insurance regulator Irdai has cleared different levels of licences to a host of new players in the insurance industry in non-life and reinsurance spaces in its recently held board meeting, reported PTI. However, not a single licence was cleared by the insurance regulator for any player on life space as it didn't receive any such application this time. Insurance and reinsurance companies pro

EXCLUSIVE: With India visit, Westinghouse CEO keeps nuclear project alive

By Douglas Busvine

NEW DELHI  - A deal to build six Westinghouse nuclear reactors in India is still alive, but to be viable must be ring-fenced from a financial crisis at the U.S. reactor maker and its Japanese parent Toshiba Corp, people with direct knowledge of the matter told Reuters.

Westinghouse would only provide reactors for the six AP1000 units

'Vibrant secondary market, liquidity to help develop bonds'

A vibrant secondary market and higher liquidity will help in development of the corporate bond market and drive economic growth, a Sebi official said. "The development of the bond market is linked to the development of an economy as it allows efficient flow of capital from the savings area to where it is needed," Sebi Whole-time Member G Mahalingam said at an event organised by indust

'Women's empowerment can increase global GDP by $12 tn'

Empowering women to achieve economic equality would "exponentially" increase global gross domestic product (GDP) by at least $12 trillion by 2025, according to Assistant Secretary General Lakshmi Puri.

With women's equal participation in the economy, world GDP has the potential to even go up to $28 trillion, she said Tuesday citing a study done by the consulting company,

HP launches 'Centre of Excellence' to support Digital India

In line with the government's Digital India initiative, HP Inc on Wednesday launched its first 'Centre of Excellence' (CoE) in India.

The facility is dedicated to demonstrating innovative solutions developed locally that have the potential to digitally transform the country. 

The 4,000 square-feet facility aims to showcase multiple solutions for sectors such

CREDAI seeks support for development of affordable housing

Realtors' body CREDAI said that the banks and housing finance companies need to support builders in the development of affordable housing projects as margins are low in this segment. The interest in affordable housing has increased after this segment has been given the infrastructure status in the Budget, CREDAI-NCR President Manoj Gaur said.

"With increased interest in affor

India works on formula to regulate iron ore prices - steel secretary on TV

NEW DELHI  - India is working on a formula that might act like a cap on iron ore prices, the country's steel secretary Aruna Sharma told CNBC TV18 on Wednesday.

"There needs to be some sharing of the profits. We are working on the end-formula, and maybe we will come up with the logic very soon," Sharma said.

The price of iron ore "sho

CISF to make airport security hassle-free: Reports

The CISF has said that it is working to make security processes at airports simple and hassle-free as it prepares to build an effective defence framework to thwart possible terror threats, including lone wolf attacks, at these facilities. Commenting on the issue, CISF Director General O P Singh told the media, “The force was testing and analysing a plethora of smart gadgets like full body

Railways gives sub-quota for women in catering policy: Reports

The Indian Railways has said that it has introduced 33 per cent of sub-quota for women in the allotment of food stalls at rail premises as a special provision in the new catering policy. As per reports, the new catering policy was launched recently by Railway Minister Suresh Prabhu as promised in the Rail Budget 2016-17. Commenting on the issue, a senior IRCTC official told the media, “Th

Domestic airlines launch special offers on Women's Day

 Various domestic airlines have come up with special initiatives and offers for women travellers to mark the International Women's Day on March 8.

National carrier Air India said it has been operating more than ten all-women crew flights on its international and domestic routes from the period starting February 26 to March 8, 2017. 

"March 8th 2017, Air In

India's domestic passenger traffic up 26.6% in January

 India's domestic passenger traffic grew by 26.6 per cent in January, a global airline association said on Tuesday.

The January traffic soared 26.6 per cent, marking the 15th consecutive month of 20 per cent-plus annual growth, the International Air Transport Association (IATA) said in its global passenger traffic data.

"Demand is being stimulated by strong fli

Sebi studying global markets to improve norms for AIFs

Sebi is studying the regulatory framework in overseas jurisdictions for alternative investment funds (AIFs) as the watchdog looks to improve existing norms for such class of investors, reported PTI. "We are studying particularly important jurisdictions like the US, Australia or New Zealand to find out how the accredited investors have defined what are the kind of crucial treatment and what

Mutual Fund industry likely to double investor base in next 3-years

Mutual fund industry is likely to double its investor base and register growth in next three years, a top official of a leading mutual fund house said according to the PTI report. The industry is betting big on investor awareness initiatives like Mutual Fund Day to achieve the goal.

The MF industry has seen a moderate growth in investor folios-from 4.7 crore to 5.3 crore in last five

DoT launches TEN Square to incubate startups

The Department of Telecom along with Telecom Centers of Excellence and C-DoT has set up TEN Square to incubate startups in the field of information and communication technology, reported PTI. "Department of Telecom along with Telecom Centers of Excellence (TCOE) India and C-DoT has set up Telecom Entrepreneurs (TEN) Square at TCOE India to incubate startups in ICT.

This initiativ