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RBI proposes upper age limit of 70 years for CEOs, whole-time directors of banks !!

MUMBAI: The RBI has proposed an upper age limit of 70 years for CEOs and whole-time directors of banks and a maximum term of 10 years for those belonging to the promoter group, as part of the exercise to improve governance in the banking sector. The discussion paper released by the Reserve Bank of India (RBI) on Thursday said that chief executive officers (CEOs) and whole time directors (WTDs) belonging to the promoter group should pass on the managerial leadership to professionals after 10 years .. “The upper age limit for…

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The Rise Of Data : Data Science , Big Data And Data Analytics For Seamless Buisness Operations !!

Data, a four-letter word is the forerunner of a digital economy. Structured & unstructured data through emails, financial transaction numbers, audio files, web pages, business documents, and social media messages are mined to harness intelligent insights. Data forms the core of AI-powered Machine learning models. You will be surprised to know that humans generate more than 2.5 quintillion bytes of data every day, broken to 1.7 megabytes in just a second. Research estimates that over 6 billion smartphone users are looking at some form of data, and over 50 billion…

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PoS Startup Innoviti Chases Profitability After Raising Series C !!

Bengaluru-based digital payments solutions startup Innoviti has raised an undisclosed amount in Series C funding from Netherlands-based FMO-Entrepreneurial Development Bank, along with existing investor US-based Bessemer Venture Partners. Rajeev Agrawal, CEO of Innoviti Payments, told Moneycontrol that this may be  company’s last funding round as it plans to generate cash from its books within 6-8 months. He also said that the company may only consider another fundraise if there’s an opportunity for acquisition or inorganic growth. The latest round is said to be all primary capital and had no secondary…

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Tech firms spot a big opportunity in India !!

A budget proposal to use technology to bring in changes in administration across sectors and deliver citizen services is expected to benefit Indian IT companies, helping them expand their domestic business and build models that they can take globally. “The intent shown by the government means that for the first time companies like Tech Mahindra will be able to build government, citizen and cyber security models in India and then take them outside, instead of it being the other way around,” CD Gurnani, CEO of Tech Mahindra, told ET. Indian IT…

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Pinterest shares techniques to help you make excellent video ads !!

If you’re scrambling for ideas to make thumb-stopping video content, Pinterest may have a few, okay , techniques to help you make video ads that stand out on the platform. Pinterest says that video views on the platform have increased threefold over the last year. To make your videos visually standout, Pinterest advises playing with perspective, white space, color, movement, motion, and depth to make your content feel alive. Pinners love video. In 2020, video views on the platform have increased more than 3x over the previous year. Unlike a…

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Apple patents socially-distant selfies !!

Apple has been granted a patent for software that creates socially-distant group selfies.Synthetic Group Selfies, as patent No. 10,672,167 describes them, it would allow users to generate selfies with numerous family members and friends residing at distant, separate locations. The selfie would be created using live or stored still photos and videos. The software would remove backgrounds, resize images and accommodate positioning in front or in back of other individuals as needed to arrange realistic group photos. Users would be able to modify the selfie at any time with stored video…

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BSNL 200Mbps 1500GB FTTH Plan Extended to More Cities !!

Bharat Sanchar Nigam Limited (BSNL), the state-owned telco, has extended its existing 1500GB FTTH plans to new cities in Tamil Nadu, after introducing it in only Chennai and Telangana circles earlier this year. The BSNL 1500GB Fiber-to-the-Home (FTTH) plan offers a speed of 200Mbps up to 1500GB data with unlimited local and STD calls to any network. After the FUP limit is reached, the speed reduces to 2Mbps. The 1500GB FTTH plan is also introduced in Bhawanipatna city in Odisha, as well as in Puducherry area also. According to a…

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Bank FDs now fetch less than savings accounts !!

Kolkata: It no longer pays to keep your money locked up in a bank. Fixed deposit rates have plummeted in recent months, with short-term rates now hovering very close to or below savings account rates for some banks. Surplus liquidity and sluggish credit growth have forced banks to cut rates of both short-term and long-term deposits, and made savers move to riskier instruments such as debt market mutual funds or even equity assets. Deposit growth shrunk last fiscal and has grown less than 2 % so far in the current…

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Facebook Publishes New Update on Account Removals Due to Organized Manipulation Efforts !!

Facebook has this week published its Coordinated Inauthentic Behavior report for May, which outlines all of the accounts, pages and groups that the platform has removed over the course of the month due to identified efforts to mislead and misinform Facebook uses for varying purpose. As explained by Facebook: “We’re constantly working to find & stop coordinated campaigns that seek to manipulate public debate across our apps. We view influence operations as coordinated efforts to manipulate public debate for a strategic goal where fake accounts are central to the operation.”  In May, Facebook…

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Sensex rallies 608 points to 34,895 in opening session; Nifty surges 184 points to 10,326 !!

The Central Board of Direct Taxes (CBDT) on Sunday clarified that the annualised gross direct tax collection growth in 2019-20 was actually 8% at ₹14,01,920 crore, but tax reforms worth ₹1,68,200 croreannounced last year had led to about 5% contraction in overall tax receipts in the previous financial year. The revenue impacts of corporate tax reforms and personal income tax concessions were ₹1,45,000 crore and ₹23,200 crore, respectively. After adjusting the revenue losses due to the two reforms actual gross direct tax collection in 2019-20 was ₹12,33,720 crore, a 4.92%…

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