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Archives for November 2019

Paytm to invest Rs 500 crore in early-stage tech start-ups

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Paytm expects to employ technology across the growing internet to become the dominant player in artificial intelligence, it added.

Paytm

One of India’s biggest start-up success stories, Paytm, has announced that it will start investing in early-stage deep technology start-ups which are building technologies and solutions that can complement the digital payments ecosystem. According to a statement from the firm earlier this week, Paytm is planning to invest as much as Rs 500 crore into such companies over the next few years.

“The company has set aside ₹500 crore to invest in early-stage companies that build complementary technologies augmenting the digital ecosystem,” Paytm said in a statement, adding that it will focus companies that are working on artificial intelligence-based technology and big data solutions to make its investment, in order to acquire or develop innovative solutions that can generate large scale employment.

“We are well aligned with our country’s mission to ensure that the benefits of the digital revolution reach the last mile,” said Paytm Deputy Chief Financial Officer Vikas Garg, “We partner with startups who have capabilities that augment the digital ecosystem for the next wave of growth. These investments are also an indication that Paytm believes India’s entrepreneur ecosystem is innovative”.

Paytm expects to employ technology across the growing internet to become the dominant player in artificial intelligence, it added. Over the recent past, Paytm has typically invested around Rs 200-250 crore every year in intellectual properties or companies building complementary technologies. A few such firms Paytm has chosen to invest in include names like Insider, Nearbuy and Loginext.

Infosys founder NR Narayana Murthy’s son to marry in December 2019

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Image result for narayana murthy son

 Come December 2, Rohan Murty, the son of Infosys founder N R Narayana Murthy and Infosys Foundation Chairperson Sudha Murty, will wed Aparna Krishnan in the city. 

BENGALURU:  Come December 2, Rohan Murty, the son of Infosys founder NR Narayana Murthy and Infosys Foundation Chairperson Sudha Murty, will wed Aparna Krishnan in the city. The wedding will be a simple ceremony in the presence of family and close friends, followed by a reception. The couple have known each other for about three years, and met through a mutual friend, according to sources. 

Aparna is the daughter of Savithri Krishnan, a retired SBI employee, and Commander KR Krishnan, a former Indian Navy officer. While she completed her initial schooling here, she went to Canada for the next level of education — high school.  She has studied economics at Dartmouth College, US. 

Now a resident of Bengaluru, Aparna is known to have worked in McKinsey and Sequoia Capital.Rohan has a Ph.D in Computer Science from Harvard University and is a Junior Fellow at the Society of Fellows of the university. He established the Murty Classical Library of India whose goal is to present the greatest literary works of India from the past two millennia to the largest readership in the world.

ED’s Bengaluru unit looking into complaint against Congress leader KJ George

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Sarvagna Nagar MLA KJ George said that all his assets were legal and declared before the Lokayukta, Income Tax Department and the Election Commission.

BENGALURU:  The Enforcement Directorate (ED), Bengaluru zonal unit, is examining allegations of Foreign Exchange Management Act (FEMA) violation against senior Congress leader and Sarvajnanagar MLA KJ George.

This follows a complaint by Karnataka Rashtra Samithi (KRS) president Ravi Krishna Reddy. “The ED will register a case against George under FEMA only if there is evidence against him,” said sources who are privy to the development. On his part, George has rubbished Reddy’s charges against him as “baseless.” 

Speaking to TNIE, the Congress MLA said that all his assets were legal and declared before the Lokayukta, Income Tax Department and the Election Commission. “If any of these agencies seek any clarification from me, I will submit my reply. Since Reddy has filed the complaint with the ED, he should allow the agency to verify the charges. Why is he going to media for publicity? The ED has not issued any notice to me so far. I have nothing to hide,” George asserted.

Meanwhile, Reddy told TNIE that in September this year, they had submitted a detailed complaint to the ED against George with several annexures of his alleged properties outside India as proof. On November 11, Reddy wrote another letter to the ED to take prompt action against the Congress MLA under FEMA.
“George has held key portfolios in the Siddaramaiah-led Congress government and the previous Congress-JDS coalition government. He has amassed huge properties in India and abroad, particularly in New York,” he alleged.

He said that in his complaint to the ED, he has given a detailed description of properties held by George and his family. “Most of the properties are in the name of George’s daughter Renita Abraham and son-in-law Kevin Abraham,” Reddy claimed.George countered this stating that his daughter is an American citizen. “The Government of India can seek information from the US government about their assets,” he said.

Hubballi girl creates history, achieves Guinness World Record in fasted blindfold skating

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Ojal Nalavade, a 7th standard girl from Hubballi covered the distance of 400 mts in 51 seconds by skating blindfolded.

Ojal Nalavade holds the certificate and celebrate after the record.

HUBBALLI: A 14-years old girl from Hubballi has achieved a rare fete by creating a world record here on Thursday morning.

Ojal Nalavade, a 7th standard girl from Hubballi covered the distance of 400 mts in 51 seconds by skating blindfolded.

The officials from the Gunnies Book of World Records declared that Ojal is now fastest blindfold skater in the world in 400 mts.

A certificate was given to the winner amidst cheers of well-wishers and skating enthusiasts.

The event on held near Chetana College where people has gathered as early as 5.30 am. There were a total of three attempts and third attempt was declared as the record. The officials from Gunnies Book of Records had given a timing of 60 seconds to complete the task.

Speaking with media, Ojal expressed happiness and thanks everyone for the support. “My parents, coach and family was a big support. I shall achieve more with their support in future,” she said.

Akshay Suryawanshi, skating coach of Ojal said that she was practicing early morning hours for many days. “Skating faster with blindfold is a rarity. She has achieved it with determination and hard work,” he said.

Difficult without Shakib, Tamim but Bangladesh up for the challenge: Captain Mominul Haque

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The 28-year-old also said that playing a full-fledged Test series against India will provide the visitors with a good opportunity to showcase their skills.

INDORE: As India and Bangladesh get ready to face each other in a two-match Test series, skipper Mominul Haque on Wednesday said that being the captain of the side will make him more responsible and will help him improve his cricketing knowledge.

“I do not think, being the captain will change my batting style. I will apply the same composure I did earlier and will bat in the same manner. Being a captain will help me become more responsible and it will further improve my cricketing knowledge. As a captain, it is a good opportunity for me to showcase my skills. It will be all about adjusting the mental aspect of the game,” Momin told reporters.

Before the tour of India, Bangladesh lost the services of two key players–Shakib Al Hasan and Tamim Iqbal.

While Tamim opted out of the tour due to personal reasons, Shakib was handed a two-year ban, with one year being suspended for not reporting a match-fixing offer to International Cricket Council’s (ICC) Anti-Corruption Unit (ACU).

When asked, how it would be to play without both key players, the skipper replied: “It would be challenging to play without Shakib and Tamim, but the guys are up for the challenge”.

The two-match Test series also comprises of a day-night Test slated to be played at Eden Gardens in Kolkata from November 22-26. The Bangladesh skipper revealed that the side has not practised with the pink ball ever since coming to India.

“It will be a challenge and it will be an opportunity for everyone. We practised with the pink ball in Dhaka, but we haven’t practised with the pink ball ever since coming here. Between the first and second Test, we will get time to prepare for the pink-ball Test. I do not have any experience with the pink ball, so I do not know how much it swings and moves. I do not think it would be a problem. It will be an opportunity as we do not know when we will play with the pink next,” Mominul said.

The 28-year-old also said that playing a full-fledged Test series against India will provide the visitors with a good opportunity to showcase their skills.

He also said that the team management has not decided on what the team composition would be for the first Test at Indore.

“Playing a full-fledged Test series against India will provide us with a good opportunity. We all are excited for the challenge that awaits us. We will try to play good cricket. The team management has not decided yet, so I do not know what the composition of our side will be for the first Test. I think it would be a good wicket for batting,” Mominul said.

India and Bangladesh will take on each other in the first Test at Holkar Stadium in Indore from November 14-18.

The two-match Test series is going to be a part of the World Test Championship (WTC). Currently, India is at the top of the WTC standings with 240 points from five matches. 

Kashmir Valley limps back to normal; buses and cabs return to roads

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Passenger buses, mini-buses and cabs plied on most routes in uptown Srinagar. The buses were running overcrowded.

A paramilitary soldier on patrol in Jammu and Kashmir (File | AP)

SRI NAGAR: After observing spontaneous shutdown for 100 days against scrapping of Article 370 and bifurcation of J&K State into two Union Territories, life has started limping back to normalcy in the militancy-hit Valley. For the first time since August 5, passenger buses were back on roads, leading to traffic jams in Srinagar on Wednesday. Shops and business establishments also remained open for the whole day in some areas of Kashmir.

Passenger buses, mini-buses and cabs plied on most routes in uptown Srinagar. The buses were running overcrowded.

There were traffic snarls in some areas of Srinagar and it took commuters longer than usual to reach their destinations. Many roads in city including Lal Chowk, Rajbagh and Natipora witnessed heavy rush of vehicles and the traffic policemen faced a tough time regulating the traffic in the city centre.

However, the passenger buses did no ply on routes in downtown Srinagar.

The electronic buses of J&KSRTC also plied on four different routes in Srinagar.  

The inter-district cabs also plied normally in all the district routes from Srinagar.

“I had been facing a tough time from reaching Baramulla to Srinagar daily due to non-availability of public transport. Today, I boarded a cab and reached my office in the city centre on time,” said Zahoor Ahmad of Baramulla.

The return of buses and cabs on roads had an impact on the business in the Valley.

The shops in most parts of uptown Srinagar including city centre Lal Chowk remained opened throughout the day today.

A shopkeeper was shot dead by militants in Tral area of south Kashmir’s Pulwama district on Wednesday. Police sources said militants fired three rounds from a pistol at Mehraj-ud-Din Zargar from point-blank range.

Zargar succumbed to injuries while being taken to a nearby hospital.

He had a readymade garment shop.

Police and paramilitary personnel rushed to the area and launched a search but no arrest was reported.

President Ram Nath Kovind welcomes Britain’s Prince Charles to India

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The President said that India and the UK are partners bound by historical ties and shared values of democracy, rule of law and respect for a multicultural society.

NEW DELHI: President Ram Nath Kovind on Wednesday welcomed Britain’s Prince Charles to India, who is on a two-day visit to the country and congratulated him on his election as the head of the Commonwealth.  Kovind said India considers the Commonwealth as an important grouping that voices the concerns of a large number of countries, including the Small Island Developing States.

The President said that India and the UK are partners bound by historical ties and shared values of democracy, rule of law and respect for a multicultural society. “As the world’s pre-eminent democracies, our two countries have much to contribute together to effectively address the many challenges faced by the world today,” said an official statement quoting the President.

President Kovind also thanked the Prince of Wales for his support in the field of Ayurveda research. The Prince of Wales Charitable Foundation and the All India Institute of Ayurveda signed an MOU during the visit of Prime Minister Narendra Modi to the UK in April 2018. Under the MOU, the All India Institute of Ayurveda and the College of Medicine, UK will be conducting clinical research on Depression, Anxiety and Fibromyalgia.

They will also be undertaking a training programme for the development of Standard Operating Protocol on ‘AYURYOGA’ for UK Health professionals. This is the royal’s 10th official visit to India. The Prince also visited Gurudwara Bangla Sahib and the Indian Meteorological Department.

PM Modi pays tributes to Jawaharlal Nehru on latter’s 130th birth anniversary

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Nehru, the first prime minister of India, held office between August 1947 and May 1964.

Former PM Jawaharlal Nehru

NEW DELHI: Prime Minister Narendra Modi on Thursday paid tributes to Jawaharlal Nehru on his 130th birth anniversary.

Nehru, the first prime minister of India, held office between August 1947 and May 1964.

“Tributes to our former PM Pandit Jawaharlal Nehru on his birth anniversary,” Modi tweeted.

Nehru was born on this day in 1889 in Allahabad.

Evasion of tax: Karnataka HC dismisses petitions filed by Congress leader DK Shivakumar, two others

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The I-T Department had filed a complaint against DK Shivakumar and others after it conducted a search in August 2017 under the provisions of Income Tax Act as well as IPC

Congress leader DK Shivakumar

BENGALURU: In a setback to Congress leader D K Shivakumar, the Karnataka High Court on Tuesday dismissed the criminal review petition filed him against the order of the trial court which had rejected his plea seeking him to discharge from the case registered by the Income Tax Department for allegedly evading tax.

This apart, the High Court has also dismissed the criminal review petitions of two other accused in the same case. The two other accused are N Rajendra and Anjaneya Hanumanthaiah.

Justice B A Patil observed that prima facie petitioners – accused have not made out any grounds so as to interfere with the order of the trial court. The petitions are devoid of merits and the same are liable to be dismissed. Accordingly, the petitions are dismissed, the judge said. 

All the three accused approached the high court against the trial court order dated June 25, 2019. 

The I-T Department had filed a complaint against DK Shivakumar and others after it conducted a search in August 2017 under the provisions of Income Tax Act as well as IPC.

Cyclone Bulbul: Bengal’s losses could reach Rs 19,000 crore

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The cyclone made the landfall between West Bengal and Bangladesh coasts on the midnight of Saturday and claimed 14 lives.

Cyclone Bulbul

KOLKATA: Cyclone Bulbul that battered the coastal districts of West Bengal before hurtling towards Bangladesh has caused a loss which could be between Rs 15,000 crore and Rs 19,000 crore in the state, a senior official said on Tuesday.

The cyclone made the landfall between West Bengal and Bangladesh coasts on the midnight of Saturday and claimed 14 lives.

“An interim estimation has been prepared from the preliminary report submitted by different departments after surveying the cyclone-hit areas. The final estimation will be reached only after departments submit their reports,” the IAS officer said.

According to initial estimates, the losses could reach Rs 15,000 crore to Rs 19,000 crore, he said.

Complete reports on damages in the districts of North 24 Parganas, South 24 Parganas and East Midnapore are yet to reach the secretariat.

Chief Secretary Rajiva Sinha has sought the reports on Tuesday, official sources said.

At least 14 departments including irrigation, forest, agriculture, power, public health and engineering and panchayat were asked to submit their report on Wednesday.

After the final report is prepared, it would be sent to the Centre, he said.

A central government team is scheduled to reach the cyclone-affected areas of West Bengal later this week and prepare a report on the devastation.

Chief Minister Mamata Banerjee on Monday conducted an aerial survey of cyclone Bulbul-ravaged areas of South 24 Parganas district and had announced a compensation of Rs 2 lakh for the families of each of those killed in the storm.

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