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News on Medial
IBC data provides valuable insights to handle complex cases: M Rajeshwar Rao, Dy Governor RBI
Livemint
·
7m ago
Medial
The Deputy Governor of RBI has highlighted the need for improvements in the resolution ecosystem, including a better understanding of the reasons behind defaults. He emphasized addressing delays caused by uncooperative corporate debtors in the insolvency process and suggested examining valuation practices to improve the process. The Deputy Governor also called for a mechanism to bridge the gap between out-of-court resolutions and the statutory provisions of the IBC. It is important to ensure the effective implementation of the code while unlocking economic value.
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CBDC Transactions Have Declined Since Dec 2023: RBI Dy Guv
Inc42
·
1y ago
Medial
According to RBI Deputy Governor T Rabi Sankar, the central bank digital currency (CBDC) pilot in India has processed 2.2 crore transactions since its launch in December 2022. Currently, there are 46 lakh users and 4 lakh merchants transacting in CBDC, with transaction volumes shifting from peer-to-peer to peer-to-merchant. The RBI is also planning to enable non-bank payment system operators, such as PhonePe and Google Pay, to offer CBDC wallets, making it more accessible to a wider user segment. Additionally, the RBI is testing new offline CBDC use cases within a closed-user group.
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RBI looking at coming out with fintech regulations: Dy Guv Sankar
Inshorts
·
2y ago
Medial
RBI Deputy Governor T Rabi Sankar has revealed that the central bank is considering the introduction of fintech regulations. While acknowledging the growth of fintech, Sankar emphasized that there are currently no specific regulations in place. The RBI is engaging with the industry to assess the necessity of regulations, with a focus on timing them appropriately to support industry growth.
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No Spl Purpose For CBDC, UPI Already Prevalent: Ex-RBI Dy Guv
Inc42
·
11m ago
Medial
Former Deputy Governor of the Reserve Bank of India (RBI), S S Mundra, stated that he does not see any special purpose for Central Bank Digital Currency (CBDC) considering the existing prevalent usage of Unified Payments Interface (UPI). Mundra also encouraged banks to rethink their business models as fintech startups with superior digital capabilities are emerging in the market. The RBI had initiated piloting CBDC for retail users in December 2022 and succeeded in achieving 10 Lakh transactions per day by December 2021.
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IndusInd is an episode, not a failure, banking system is secure: RBI governor
Business Today
·
4m ago
Medial
The RBI governor assured that the Indian banking system remains secure and robust, addressing concerns over banking incidents, which are typical in operations and not failures. Following IndusInd Bank's report of a Rs 1,577 crore accounting discrepancy in its derivatives portfolio, the RBI emphasized that such isolated cases should not undermine the overall resilience of India's banking system, reinforcing trust in its stability and systemic strength.
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Finance ministry holds meeting on scaling up of Unified Lending Interface
Economic Times
·
1m ago
Medial
The finance ministry and Reserve Bank conducted a meeting with stakeholders, including state representatives, to discuss scaling up the Unified Lending Interface (ULI). This digital public infrastructure aims to streamline lending using technology and standardised APIs, allowing seamless data access for lenders. Co-chaired by Financial Services Secretary M Nagaraju and RBI Deputy Governor T Rabi Sankar, the meeting emphasized ULI's national importance and urged stakeholders to integrate their datasets to enhance credit delivery.
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It’s nearly GPT-5 time.
The Verge
·
3d ago
Medial
OpenAI has officially launched GPT-5, with a live stream event demonstrating its features. The new version includes four variants and improvements in agentic capabilities, allowing it to handle complex coding tasks with minimal prompting. The announcement follows a leak from GitHub earlier that day, highlighting the expected features. The event aimed to provide insights into GPT-5's enhancements and capabilities.
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‘Legacy code will become liability’: Zoho's Sridhar Vembu tells developers to brace for AI coding takeover - BusinessToday
Business Today
·
2m ago
Medial
Sridhar Vembu, founder of Zoho, warns developers that as AI-driven tools become more advanced, legacy codebases might transform from valuable assets into liabilities. He suggests that the industry should consider using AI to rewrite software rather than maintaining outdated systems. While current AI struggles with complex existing code, Vembu believes this limitation is temporary. He predicts that AI could handle up to 90% of programming tasks, emphasizing the need for developers to adapt to avoid obsolescence.
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Udaan in Talks with M&G Prudential for Equity Round, Valuation Expected to Dip Below $2 Billion
Business Bytes
·
1y ago
Medial
Indian B2B e-commerce platform Udaan is in talks with UK-based M&G Prudential for a new equity round, aiming to secure an investment of $100-150 million. This investment may result in a significant decrease in Udaan's valuation, potentially falling below the $2 billion mark. The need for an equity round and valuation correction is attributed to intense competition, changing market dynamics, operational challenges, and regulatory hurdles in India's evolving B2B e-commerce sector. While the valuation adjustment may seem challenging, Udaan's collaboration with M&G Prudential could bring valuable insights and international support, helping the company navigate these challenges and tap into the sector's potential.
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Check out the complete roundtable lineup at TC Early Stage 2024
TechCrunch
·
1y ago
Medial
TC Early Stage 2024 is set to host a lineup of roundtable sessions that aim to enlighten and invigorate entrepreneurs. These sessions will cover a range of topics including seed funding, the chameleon mindset, M&A exits, grabbing investors' attention, raising VC money, PR strategies for founders, and the right time to hire a product leader. The roundtables will be led by experts in their respective fields, providing valuable insights and networking opportunities for attendees. Make sure to grab your tickets before prices increase.
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Compete with an incumbent, with Linear Cristina Cordova at Sessions: AI | TechCrunch
TechCrunch
·
2m ago
Medial
The TechCrunch Sessions: AI event at UC Berkeley on June 5 will tackle the challenge of competing with entrenched incumbents in the AI industry. Featuring experts like Linear COO Cristina Cordova, attendees will gain insights into succeeding in a competitive landscape dominated by powerful incumbents. The event offers discounted registrations and promises valuable networking opportunities, practical solutions, and real-world use cases, with speakers from OpenAI, Anthropic, and Google, aimed at enhancing AI expertise and influence.
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