BUSINESS
upGrad to invest $30 mn to launch 10 global campuses next year
Under a new brand name UGDX', the company said it will open three campuses in the US (the San Francisco unit goes live in January), five in India (Delhi and Chennai) and one each in Singapore and Middle-East.
'Banks increase deposit rates, risk premia on loans not factored in'
In a research report Dr Soumya Kanti Ghosh, Group Chief Economic Adviser, SBI said: "A back of envelope estimate suggests that the core funding cost of the banking system is currently at around 6.2 per cent, while the reverse repo rate is at 5.65 per cent."
Now Meta plans to lay off 'thousands' of employees this week: Report
The "large-scale" job cuts, to begin from Wednesday, could affect "thousands" of workers, according to a report from The Wall Street Journal. "Social-media company's planned cuts expected to affect many thousands of its workforce. The planned layoffs would be the first broad head-count reductions to occur in the company's 18-year history," the report, citing sources, said late on Sunday.
Brainly fires nearly all from India team as not able to maintain some of roles
Impacted Brainly employees took to Twitter, sharing their examples. "Layoffs are sad, but what is worse is how they are handled. CEO comes on the call -- announces India shutdown and within 2 minutes slack and emails shut off, laptops disconnected. Everyone was shocked. And then no severance," said one affected employee. Corporate Chat India tweeted a screenshot of an affected employee from its account.
Reliance Industries ranked 20th in the world, highest among Indian companies in World's Best Employers rankings
RIL is ranked 20th in the world and the highest among Indian companies ahead of HDFC Bank at 137. Samsung was at the top spot in the ranking of World's Best Employers followed by Microsoft, IBM, Alphabet, Apple, Delta Airlines, Costco, Adobe, Southwest Airlines and Dell Technologies in the top ten, Reliance Industries with 2.3 lakh employees, is ranked 20th and is ranked above Rolex, Dassault Group, Huawei, Bosch, Mercedes Benz and Pfizer among others.
$8 Twitter Blue with verification in India in less than a month: Elon Musk
The company has already started testing Twitter Blue subscription plan for Apple iOS users, which provides verification and other benefits. When a Twitter follower asked Musk when can we expect to have the Twitter Blue roll out in India, the Tesla CEO replied: "Hopefully, less than a month".
Over 100 countries exploring their own digital sovereign currencies
Over 100 countries, including India, are exploring or piloting Central Bank Digital Currencies (CBDCs), a digital form of a country's sovereign currency. Among the G20 countries, 19 are exploring a CBDC, with 16 already in the development or pilot stage. They include South Korea, Japan, India and Russia, according to The Atlantic Council's Geoeconomic Centre.
Indian e-rupee to boost digital payments sans bank accounts
The rollout of the e-rupee has been one of the most sought-after developments, since its announcement in the FY23 Union budget. Jaya Vaidhyanathan, CEO of BCT Digital, said that the RBI's commencement of the pilot of the digital rupee marks appreciable progress in the journey toward digital payments.
Digital currency to cut RBI's cash management costs, drive financial inclusion
A key reason that is considered to have triggered the move towards the digital rupee was reducing the cost associated with physical cash management. An RBI concept note says that the cost of cash management in India has continued to be significant. The total expenditure incurred on security printing during April 1, 2021 to March 31, 2022 was Rs 4,984.80 crore as against Rs 4,012.10 crore in the previous year (July 1, 2020 to March 31, 2021).
Ready to deal in digital rupee? Find out what exactly it is
The RBI had further announced that within a month of this pilot project of digital rupee (eRs), a similar project for the retail segment would also be launched in closed user groups comprising customers and merchants. Details regarding this would be made public soon, it had added.
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