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News on Medial
Biggies like Google, Amazon & Microsoft paying undergrads Rs 1 lakh stipends for internships
Economic Times
·
1y ago
Medial
India has witnessed an increase in the number of undergraduate engineering students securing high-paying internships with companies like Amazon, Google, Microsoft, and Goldman Sachs. These internships, lasting 3-6 months, act as a gateway to future full-time roles in fields like data science and cloud computing. Several Indian universities, such as IIT Mandi and RV College of Engineering, have reported a significant rise in the number of students earning monthly stipends of over Rs 1 lakh. The competition for these internships is intense, with companies offering stipends up to Rs 1.4 lakh for various tech roles. Students who complete these internships have a higher chance of securing full-time positions with attractive annual compensations.
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Govt launches mobile app for PM Internship Scheme
Economic Times
·
4m ago
Medial
Union Minister Nirmala Sitharaman launched a mobile app for the Prime Minister Internship Scheme, encouraging company participation. The scheme aims to provide 1.25 lakh internship opportunities in 2024-25, focusing on youth from Tier II and III cities to meet industry skill demands. Interns will receive Rs 5,000 monthly for 12 months and a Rs 6,000 grant. Announced in the 2024-25 Union Budget, it targets 1 crore internships in five years with top companies.
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UPI in June: PhonePe, Google Pay see marginal decline, Paytm records flat growth
Entrackr
·
1y ago
Medial
Digital payments platforms PhonePe and Google Pay saw a marginal decline in their total volume and value processed through Unified Payments Interface (UPI) in June while the third largest player Paytm recorded a flat growth in the last month. Overall, UPI saw a marginal dip of 1% in total transaction volume to 13.9 billion in June from 14 billion in May. During the period, the transaction value also reduced by a thin margin to Rs 20.07 lakh crore from Rs 20.45 lakh crore. As per data disclosed by NPCI, PhonePe processed 6.7 billion transactions worth Rs 10.09 lakh crore in June while Google Pay and Paytm’s transactions were recorded at 5.1 billion worth Rs 7.07 lakh crore and Rs 1.1 billion worth Rs 1.2 lakh crore respectively. Volume wise, PhonePe had 48.3% market share in UPI in June followed by Google Pay and Paytm with 36.7% and nearly 8% market share. In May, PhonePe processed Rs 10.33 lakh crore whereas Google Pay and Paytm’s value of transactions were recorded at Rs 7.2 lakh crore and Rs 1.24 lakh crore, respectively. In terms of volume, the trio registered 6.8 billion, 5.2 billion and 1.14 billion transactions, respectively. Paytm, which is supported by partnerships with major banks like Axis Bank, HDFC Bank, State Bank of India (SBI), and YES Bank for UPI, has retained its market share for two consecutive months in the UPI ecosystem despite facing restrictions on onboarding new users. A bunch of new players such as CRED, NAVI, Groww, Slice and recently launched Flipkart UPI are also clocking decent volumes in UPI. According to the NPCI data, CRED has emerged as the fourth largest player in processing UPI payments. Interestingly, it has surpassed Amazon Pay, WhatsApp and BHIM and processed more than one third of Paytm’s value of transactions in the last month. Recently, NPCI chief operating officer (COO) Praveena Rai said that UPI is adding up to 6 million new users every month. NPCI has also set an ambitious target of achieving 1 billion transactions per day in the coming years.
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Microsoft CEO Satya Nadella testifies at once-in-a-generation US Google antitrust trial
Economic Times
·
1y ago
Medial
Microsoft CEO Satya Nadella will testify in the U.S. Justice Department's antitrust case against Google. The government is likely to inquire about the challenges Microsoft faced due to Google's dominance when trying to grow its Edge and Bing products. The government alleges that Google engaged in illegal behavior by paying smartphone makers and wireless carriers to be the default search engine on their devices. Nadella became CEO of Microsoft in 2014, long after the company's own federal antitrust lawsuit, which opened the door for companies like Google.
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Year ender 2024: The year that saw big tech job cuts surge
Economic Times
·
7m ago
Medial
In 2024, major tech companies like Google, Amazon, Apple, and Microsoft significantly increased layoffs due to economic uncertainties and technological advancements, particularly in AI. Google cut top management and advertising roles; Amazon downsized its streaming and AWS divisions; Apple laid off employees in self-driving and services groups. Microsoft, Intel, Dell, Cisco, Tesla, GoPro, and Freshworks also made notable workforce reductions, targeting cost-cutting and restructuring efforts amid challenging market conditions.
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Tamil Nadu to offer sops for creation of high paying jobs in Global Capability Centres
Economic Times
·
1y ago
Medial
Tamil Nadu government plans to incentivize the creation of high-paying jobs in Global Capability Centres (GCCs) by offering a payroll subsidy. This move aims to attract more GCCs to the region and compete with hubs like Bengaluru and Hyderabad. The subsidy will be provided for three years, with 30% in the first year, 20% in the second year, and 10% in the third year for jobs paying above Rs. 1 lakh per month. Industry experts believe this initiative will accelerate growth and attract investment to the state. However, it is noted that a welcoming culture for outsiders will also be crucial for the success of this strategy.
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US nuclear plant Three Mile Island to reopen to power Microsoft
Economic Times
·
10m ago
Medial
Constellation Energy has announced that Three Mile Island, the site of America's worst nuclear accident, will restart operations to provide power to Microsoft. The 20-year agreement involves restarting Unit 1, which was shut down for economic reasons in 2019. Microsoft plans to use the energy to support power grids in the mid-Atlantic states, an area known for its high demand from data centers. Tech companies like Microsoft, Amazon, and Google are increasingly turning to nuclear power to meet the growing electricity demands of AI and data centers. The Three Mile Island reactor is expected to come back online in 2028.
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Tech giants double down on their massive AI spending
Livemint
·
5m ago
Medial
Tech giants like Microsoft, Google, Amazon, and Meta are planning significant investment hikes in AI, projecting combined expenditures exceeding $215 billion for AI-related data centers. Despite investor concerns over China's DeepSeek advancements, these companies remain committed to AI development, viewing it as a major opportunity. Amazon, for instance, anticipates over $100 billion in capital expenditures, mostly for AI, while Google accelerates its AI investments to $75 billion. Meanwhile, Microsoft and Meta also boost AI spending, foreseeing exponential demand.
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StockGro To Hire 100 Interns For Various Roles Under Its Big Leap Program
Startup News FYI
·
1y ago
Medial
Finance experiential and learning platform, StockGro, has launched the Big Leap internship program aiming to provide immersive corporate experience in the finance sector for 100 interns. The program offers stipends up to ₹1 lakh and successful interns may receive Pre-placement Offers (PPO) based on their performance. StockGro aims to enhance the interns' practical skills, offering them direct entry into the corporate sector. StockGro's approach in helping millennials learn about and engage with the stock market has redefined the landscape of financial inclusion and wealth creation.
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Ahmedabad startup lets businesses hire AI agents like freelancers
Inshorts
·
2m ago
Medial
Ahmedabad startup ActionLabs.ai launched ActionAgents, a platform where businesses and individuals can hire AI agents just like freelancers. It also provides free credits to try the AI agents before paying to use them. Bootstrapped with ₹20 lakh, the platform crossed 3,000 users in 8 weeks. Now, it plans to onboard developers and reach 1 million users in 2 years.
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Employment Linked Incentive: Earn Rs 15,000 through ELI Scheme-But there is a catch - The Economic Times
Economic Times
·
10d ago
Medial
The Employment Linked Incentive (ELI) Scheme, approved by the Union government on July 1, 2025, aims to boost employment, enhance employability, and ensure social security, specifically focusing on the manufacturing sector. Employers must provide accurate gross wage details to qualify for the scheme, which offers incentives for both employers and employees. Part A targets new employees with EPF wage incentives, while Part B supports employers with incentives for jobs paying up to Rs 1 lakh. Eligibility hinges on accurate wage reporting.
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