Sahara investors to get back their money with interest: Amit Shah

Union Home Minister Amit Shah on March 30 said 10 crore investors whose money was stuck in the four cooperative societies run by the Sahara group will be returned with interest.

Sahara investors to get back their money with interest: Amit Shah

"The Supreme Court, while giving a historic decision, ordered to return the deposits of about 10 crore investors of 4 cooperative societies of Sahara group from the Sahara- SEBI refund account, Shah said at an event organized by the Uttarakhand cooperative department at Rishikul ground.

He further said the Ministry of Cooperation has been pursuing the matter consistently.

''With the Supreme Court order in the favour of investors, those who had invested in the four cooperative societies of the Sahara group should send their claims to the central registrar of cooperative societies,'' he added.


As per Shah, the process for the same will be initiated in three-four months. 

The apex court allowed a plea by the Centre seeking allocation of Rs 5,000 crore, out of Rs 24,000 crore deposited by the Sahara group with market regulator SEBI, to repay depositors of the cooperative societies. 

Sahara Credit Cooperative Society Limited, Saharayan Universal Multipurpose Society Limited, Humara India Credit Cooperative Society Limited, and Stars Multipurpose Cooperative Society Limited. were registered under the Multi-State Cooperative Societies Act, 2002 between March 2010 and January 2014.

IAS, IPS, IFS must now inform Centre about stock market related transactions in this case...

 Indian Administrative Service (IAS), Indian Police Service (IPS) and Indian Forest Service (IFS) officers will now be required to inform the Centre about their total transactions in stock, share or other investments in case it exceeds their six months' basic pay during a calendar year.



According to the latest order by the personnel ministry, this intimation is in addition to similar information that needs to be shared by them under Rule 16 (4) of AIS or All India Services (Conduct) Rules, 1968.


These rules are applicable to the members of three All India Services -- Indian Administrative Service (IAS), Indian Police Service (IPS) and Indian Forest Service (IFS).


"...With a view to enable the administrative authorities to keep a watch over the transactions in any stock, share or other investments etc. in respect of members of All India Services (AIS), it has been decided that an intimation may be sent in the enclosed proforma to the prescribed authority every year, if the total transactions in stock, share or other investments etc. exceed six months' basic pay of government servant during a calendar year," said the order issued to secretaries of all central government ministries, PTI reported.


It referred to Rule 14 (1) of the conduct rules that says "no member of the service shall speculate in any stock, share or other investments but this provision will not apply to occasional investment made through stock-brokers or other persons duly authorised on licence under the relevant law".


Furthermore, the rule elaborated that frequent purchase or sale or both of shares, securities or other investments is deemed to be speculation under the sub-rule.


The ministry, in its order dated March 20, further said that since share, securities, debentures, among others, are treated as moveable property as per explanation-I under Rule 16 of AIS (Conduct) Rules, 1968, if an individual transaction exceeds two months' basic pay of the member of service as prescribed in Rule 16(4) of ibid rules, "intimation to the prescribed authority would still be necessary".


"Every member of the service shall intimate the government in respect of each transaction, whose value exceeds two months' basic pay of the member of service within a month of the completion of such transaction", reads Rule 16 (4).


(With PTI inputs)

Powerful flare from Sun hits Earth, causes radio blackout over parts of Asia, Australia

 A powerful explosion from the Sun ionized the top layer of Earth's atmosphere and led to a strong shortwave radio blackout over southeast Asia, Australia, and New Zealand. The flare erupted from sunspot AR3256 near the southwestern limb of the star in our Solar System.


The eruption was captured by Nasa's Solar Dynamics Observatory, which watches the Sun. This flare was classified as an X1.2 flare. X-class denotes the most intense flares, while the number provides more information about its strength.


Nasa said that solar flares are powerful bursts of energy. Flares and solar eruptions can impact radio communications, electric power grids, and navigation signals, and pose risks to spacecraft and astronauts.


This was the seventh such explosion from the Sun in just three months of 2023. It is equal to the total number of flares that emerged from the Sun in 2022. The explosion indicates the fast ramping up of activity on the Sun as it continues in its solar cycle inching closer toward peak activity.  


Spaceweather.com reported that the flare hit Earth on March 29 ionizing the atmosphere and causing a loss of signal and other propagation effects below 30 MHz, which could have been noticed by Ham radio operators.



The event comes just days after a geomagnetic storm hit Earth, which was the strongest in three years. The geomagnetic storm was triggered by a massive explosion from a large coronal hole in the southern hemisphere of the Sun.


Geomagnetic storms are a major disturbance of Earth's magnetosphere that occurs when there is a very efficient exchange of energy from the solar wind into the space environment surrounding Earth.


Last week, plasma exploded high above the sun's surface, going as high as the height of 14 Earths stacked together. Four notable solar flares, 22 coronal mass ejections, and a geomagnetic storm were triggered by the Sun in just the last week.

Amitabh Bachchan shares unique video of 5 planets aligned in a straight line

 

Amitabh Bachchan shared a video of a rare alignment of the planets in the night sky. Mercury, Jupiter, Venus, Mars, and Uranus were all aligned in a straight line. The rare formation was seen in India on March 28. Amitabh Bachchan shared a video of a rare alignment of the planets in the night sky. Mercury, Jupiter, Venus, Mars, and Uranus were all aligned in a straight line. The rare formation was seen in India on March 28 “What A Beautiful Sight...! 5 Planets Aligned Together Today... Beautiful And Rare... Hope You Witnessed It too,” Amitabh Bachchan wrote sharing the video. The internet was absolutely mesmerized by this magnificent video of the planets all together forming a straight line. Celebrities including Shilpa Shetty and Maanayata Dutt commented on the post. Did you witness the unique alignment on Tuesday as well? Tell us your experience in the comments section below.

ITR filing last date AY 2023-24: Due date for filing income tax returns

 Income Tax Returns (ITRs) must be filed by July 31 for the FY 2022-23. April 1 will mark the start of the new assessment year 2023-24. Usually, the ITR filing due date is July 31. This year's tax returns are expected to be due on the same date.

ITR filing last date AY 2023-24: Due date for filing income tax returns


"The penalty for filing a late ITR is Rs 5,000 but it doubles that amount for later filings. However, if your taxable income is below Rs 5 lakh, the maximum penalty will be Rs 1,000. On the other hand, if the tax evaded exceeds Rs 25 lakh the punishment could be 6 months to 7 years", as per the website of the Income Tax Department.


The Income Tax department has notified seven different forms i.e., ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 & ITR 7 to date. All individuals having taxable income or those who satisfy other prescribed conditions are required to file an annual income tax return (ITR) within the specified due date.


The applicability of ITR forms varies depending on the sources of income of the taxpayer, the amount of the income earned, and the category the taxpayer belongs to, like individuals, HUF, companies, etc. One needs to carefully ascertain the appropriate ITR form for filing, keeping in mind not only the details of income but also the various disclosure requirements prescribed from time to time.

Back Uber paid an Indian researcher Rs. 4.6 lakh for detecting bug that allowed users to take free rides

 

Ride-hailing app Uber

Ride-hailing app Uber had a bug in its system that allowed users to take free rides across the world. The company was unaware of the bug until an Indian researcher pointed it out. Anand Prakash is an ethical hacker and founder of a cyber security firm. He was paid about ₹4.6 lakh rewards by Uber for detecting the bug.

Prakash discovered the bug in 2017 and shared the incident in a LinkedIn post. 

“I was able to take several trips to the US and India without paying any money, all thanks to this bug(after taking due permission from team for replicating this bug). All I had to do was book a ride and use an invalid payment method and the ride ended up going as free. ( I even made a video to show proof-of-concept to show that all I had to do was specify an invalid payment method, expressed in a simple string of characters like "abc" or "xyz," and not be billed for the ride," Prakash posted on Linkedin.

"We play devil's advocates all the time and so they're able to safeguard corporates and customers the way they do," he wrote further.

Prakash then informed Uber about the bug which was immediately fixed by the company.

Meanwhile, Uber has announced new features for its users to improve their ride experience to airports. These include expanding the availability of Uber Reserve, directions to pickup, walking ETAs and more. Announcing the features via a blog post, the company said “Our goal at Uber is to help you go anywhere effortlessly, which is why we’re thrilled to announce a series of new products aimed at making your airport experience smoother than ever".

ChatGPT presents considerable challenges for the academic community

chatgpt on screen

 As it becomes more sophisticated, ChatGPT presents considerable challenges for the academic community. 

This study aimed to address some of these concerns by prompting ChatGPT to generate academic-style content through a series of prompts and questions.

A recent study has found that while ChatGPT's academic style content is more advanced than previous innovations, it still follows a relatively formulaic structure, making it easily detectable by many existing AI-detection tools.

Researchers from Plymouth Marjon University and the University of Plymouth, UK, noted that these results should prompt university faculty to explore methods for educating and mitigating academic dishonesty among students.

The potential of ChatGPT, a Large Language Machine (LLM), to revolutionize research and education has raised concerns across the education sector regarding academic honesty and plagiarism.

This study aimed to address some of these concerns by prompting ChatGPT to generate academic-style content through a series of prompts and questions.

Interestingly, the study involved providing ChatGPT with prompts and questions to produce academic-style content, such as "Write an original academic paper, with references, describing the implications of GPT-3 for assessment in higher education," "How can academics prevent students from plagiarizing using GPT-3," and "Produce several witty and intelligent titles for an academic research paper on the challenges universities face in ChatGPT and plagiarism."

According to a study published in Innovations in Education and Teaching International, the content generated by ChatGPT was pasted into a manuscript following the suggested structure, and genuine references were then inserted throughout the text.

The study's authors disclosed the process of generating the academic paper using ChatGPT only in the discussion section of the research paper, which was written by the researchers themselves and not the software. The latest chatbot and AI platform, ChatGPT, was launched in November 2022 and is anticipated to bring about exciting opportunities in the academic world. However, as ChatGPT continues to advance, it presents significant challenges for the academic community.

As it becomes more sophisticated, ChatGPT presents considerable challenges for the academic community.

"This latest AI development obviously brings huge challenges for universities, not least in testing student knowledge and teaching writing skills – but looking positively it is an opportunity for us to rethink what we want students to learn and why.

"I'd like to think that AI would enable us to automate some of the more administrative tasks academics do, allowing more time to be spent working with student," said the study's lead author Debby Cotton, professor at Plymouth Marjon University.

"The chat (sic) is already out of the bag, and the challenge for universities will be to adapt to a paradigm where the use of AI is the expected norm," said corresponding author Peter Cotton, associate professor at University of Plymouth.

Back ‘Earned ₹1.5 cr to do nothing,’ claims former Meta employee

logo of Meta

 The logo of Meta Platforms' business group is seen in Brussels, Belgium. 

Meta, formerly known as Facebook, has announced a second round of mass layoffs that will see 10,000 jobs being cut, in the face of an anticipated economic downturn in the industry.

A former employee of Meta has claimed that she was paid $190,000 ( ₹1.5 crore) to do "nothing" at work for a year, in the wake of recent layoffs at the company, as per a report by Independent.

Madelyn Machado, who was a recruiter, shared details of her six-month stint in 2021 at the company in a TikTok video titled "Getting paid $190k to do nothing at Meta," according to the Independent's report. 

In the video, Machado mentioned that the company was not hiring any new employees during her time there.

"We weren't expected to hire anybody for the first six months, even the first year. That really blew my mind. Like perfect, I'm just going to ride this out for a year, obviously, I didn't make that," she said in the video. 

Maddie further noted that her day as being filled with "learning," adding that Meta has the "best onboarding and training" procedures that were "very thorough." Before criticising some of the meetings she had to attend, she made fun of the fact that her "expectations" at the start of her career were to be "taking it all in," as per the outlet.

Machado stated, "But the most that we did, this is the crazy part, is we had so many team meetings. Why are we meeting? We're not hiring nobody. Just to hear how everyone else isn't hiring anybody. And also, I was on a team where everyone was new, so none of us were hiring anybody." 

Machado, posted on LinkedIn to clarify the reports, "I posted a video that has gone viral on the wrong side of TikTok. Where I stated in my six months at Meta, I wasn't expected to hire anyone and I didn't do anything other than learn for the first six months," Machado said.

She stated that her previous remarks were taken out of context, and that her role at Meta was not as simple as it may have been portrayed in the media.

Meta, formerly known as Facebook, has announced a second round of mass layoffs that will see 10,000 jobs being cut, in the face of an anticipated economic downturn in the industry. 

The restructuring plan will also involve the cancellation of 5,000 planned hires, as well as the termination of lower-priority projects and a reduction in middle management positions.

Back France bans TikTok, other ‘recreational apps’ on phones of civil servants




French government cited insufficient levels of cybersecurity and data protection on these recreational apps as a reason for the ban. (AFP)

French government has banned ‘recreational apps’ such as TikTok, Twitter and Instagram from the devices of civil servants with immediate effect.

French government has announced a ban on the ‘recreational’ use of popular social media apps like TikTok, Twitter and Instagram owing to concerns surrounding data security.

French Minister for Transformation and Public Administration made the announcement via his Twitter account, he wrote, “In order to guarantee the cybersecurity of our administrations and civil servants, the government has decided to ban recreational applications such as TikTok on the professional phones of civil servants"

In a statement released with the announcement, the Frech Minister said, for several weeks, many of France's European and international partners have adopted measures to restrict or ban the downloading and installation of TikTok application.

He added that these recreational applications do not have sufficient levels of cybersecurity and data protection to be deployed on government equipment and could pose a risk to the protection of data on the phones of civil servants.

While naming TikTok, Guerini's statement is silent on other “recreational apps".News agency Associated Press has reported that other such apps would include Twitter, Instagram and Netflix, as well as popular games such as Candy Crush and dating apps.

The ban on TikTok and other recreational apps is effective immediately and will be monitored by France's cybersecurity agency. However, exceptions to the ban maybe granted in certain professional use cases such as institutional communication.

France joins a list of notable Western democracies, including the US, UK and European Union, that have banned the popular Chinese social media app from government devices over data leak concerns. 

With rising tensions among the West and China, TikTok has been caught in the middle. Western democracies have insinuated that TikTok's Chinese owner ByteDance might share user data with the Chinese government.

Biden administration has also warned TikTok to severe its ties with ByteDance or get banned in America. This would mean 150 million TikTok users in the US will have to find an alternative to their popular social media app. 

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tik tok logo

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iphone photo edit hack

iphone editing hack

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tiktok images girl

Back With H1B visa getting tougher, check THIS viable option for job seekers to enter US


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 how many stars in us flag usa flag images usa flag emoji

Individuals who are unable to secure an H-1B visa through the regular cap may still be able to enter the US on an uncapped H-1B visa by finding employment with a cap-exempt employer (AFP)

The non-cap H1B visa are available to certain US employers, such as higher education institutions, non-profit organizations associated with higher education institutions

H-1B visa is undoubtedly the most popular visa category that allows American employers to hire foreign workers with specialized skills to work in the country for a specific period of time. However, there are ways, to enter the US for work by dodging the H-1B cap and the lottery process. Enter non-cap H1B visa. 

Who are H-1B cap-exempt employers?

The exemptions are available to certain US employers, such as higher education institutions, non-profit organizations associated with higher education institutions, and non-profit or government research organizations. 

For-profit companies seeking to hire individuals for specialty occupation services to be provided to an approved non-profit or higher education institution may also qualify.

Who can apply under this category? 

Individuals who are unable to secure an H-1B visa through the regular cap may still be able to enter the US on an uncapped H-1B visa by finding employment with a cap-exempt employer. They may later switch to a capped employer during each cap registration period while working with the cap-exempt employer. 

However, in such circumstances, the individual will still need to wait for the H-1B cap registration and must be selected in the lottery. The whole process to work with a cap subject employer must begin from scratch," Poorvi Chothani, Founder and Managing Partner of LawQuest told the Economic Times.

Is it an option for laid H-1B visa holders too?

For employees on H-1B visas who have lost their jobs, one option is to move to an uncapped employer. These visas are granted throughout the year, unlike the H-1B capped visas that follow a schedule. An employer may file a cap-exempt H-1B petition for an employee if they previously held H-1B status in the US and haven't used their six years of status. The petition would be for the remainder of the employee's allowed time in the US.

Under the H-1B Portability Rule, an H-1B visa holder can change employers and start working for the new employer the day USCIS receives the new employer's H-1B transfer petition. However, the new petition must be filed before the H-1B holder's visa expires. 

If an uncapped visa holder loses their job, they will also have a 60-day grace period before they need to leave the country. During this period, if they find a new job with another cap-exempt employer who files a new H-1B petition, they can work with that new employer once USCIS receives the new petition.

Back Gordon Moore, Intel co-founder who coined chip rule, dies at 94

Gordon Moore 


Gordon Moore died peacefully surrounded by family at his home in Hawaii on Friday, the Gordon and Betty Moore Foundation said in a statement.

Gordon Moore, the Intel Corp. co-founder whose theory on computer-chip development became the yardstick for progress in the electronics industry, has died. He was 94.

Moore died peacefully surrounded by family at his home in Hawaii on Friday, the Gordon and Betty Moore Foundation said in a statement.

A founder of industry pioneer Fairchild Semiconductor, Moore in 1968 co-founded Intel, which grew into the world’s largest semiconductor maker at one point. The Santa Clara, California-based company supplies about 80 percent of the world’s personal computers with their most important part, the microprocessor. Moore was chief executive officer from 1975 to 1987.

Intel and other semiconductor makers still develop products according to a version of Moore’s Law, the scientist’s 1965 observation that the number of transistors on a computer chip — which determines the speed, memory and capabilities of an electronic device — doubles every year. The law, which Moore revised in 1975, remains a yardstick for progress both within and beyond the chip industry, even as its continued applicability is a topic of debate.

Moore’s observation was fundamental to Intel’s rise to prominence. The company poured increasing sums into improving manufacturing of the tiny electronic components at a pace its rivals couldn’t keep up with. The torrid rate of progress made Intel’s technology the hardware heart of the personal computer revolution, then the internet revolution, until the company’s Asian rivals challenged its leadership.

Alive and Well

“Intel will be the steward of Moore’s Law for decades to come," Chief Executive Officer Pat Gelsinger said in a January 2022 interview. He said the law “is alive and we’re going to keep it very well."

Carver Mead, an engineering professor at the California Institute of Technology, came up with the name Moore’s Law. Moore himself expressed surprise at its influence and longevity and preferred to demystify and downplay it.

“I wanted to get across, here’s an idea where the technology is going to evolve rapidly and it’s going to have a major impact on the cost of electronics," Moore recalled for a video produced by the Chemical Heritage Foundation. “That was the main point I was trying to get across, that this was going to be the path to low-cost electronics."

Moore was director of research and development at Fairchild when he made his famous projection in an article, “Cramming More Components Onto Integrated Circuits," for the April 19, 1965, edition of Electronics magazine. Noting that the most cost-efficient circuit at that time held 50 transistors, he predicted that number would roughly double each year to 65,000. Modern microprocessors have billions of transistors.

In the same article he wrote: “Integrated circuits will lead to such wonders as home computers, or at least terminals connected to a central computer, automatic controls for automobiles and personal portable communications equipment."

1975 Revision

Revising his law in 1975, Moore said components per chip would grow half as quickly, doubling every two years rather than every year. An Intel colleague, David House, came up with the often-quoted corollary that a chip’s performance, due to both the number and quality of transistors, would double every 18 months.

Intel’s proxy statement in 2006 showed Moore owned 173 million shares. That’s the last time his name appears in the company’s regulatory filings. His net worth was about $7.5 billion, according to the Bloomberg Billionaires Index.

In 2000, Moore set up the Gordon and Betty Moore Foundation, which reported assets of $9.5 billion as of 2021, making it one of the biggest private grant-making foundations in the US. It supports environmental conservation, patient care and scientific research worldwide, as well as local causes in the San Francisco Bay area. Moore said his concern for the environment stemmed from his love of fishing.

Among their major gifts, Moore and his wife gave $600 million to Caltech, located in Pasadena, California; $200 million to Caltech and the University of California to build the world’s most powerful optical telescope; and $100 million to the University of California at Davis to build a nursing school.

Sheriff’s Son

Gordon Earle Moore was born on Jan. 3, 1929, in San Francisco and raised in Pescadero, California. His family moved to Redwood City, California, when he was 10. His father, Walter, was a deputy sheriff. His mother, Florence Almira Williamson, owned a small general store.

Moore saw a chemistry set at a neighbor’s house and decided he wanted to be a chemist. He began experimenting with making rockets and explosives and studied chemistry at San Jose State University. There, he met his wife, the former Betty Whittaker. They would have two children, Kenneth and Steven.

Moore transferred to the University of California at Berkeley and, in 1950, became the first person in his family to graduate from college. In 1954, he received a Ph.D. in physics and chemistry from Caltech.

He landed a job as a researcher at Johns Hopkins University’s Applied Physics Laboratory in Silver Spring, Maryland. William Shockley, who had created the transistor at Bell Telephone Laboratories, and who would share the 1956 Nobel Prize in physics, recruited Moore to his Shockley Semiconductor Laboratory near Palo Alto, California.

Moore and seven co-workers, including Robert Noyce, left to found Fairchild in 1957 with $3,500 of their own money and a $1.5 million investment from Fairchild Camera and Instrument Corp. Shockley dubbed them the “Traitorous Eight." Noyce, in the late 1950s, helped invent the integrated circuit, the basis of all chip designs to this day. He died in 1990.

Forms Intel

Noyce and Moore formed Intel, a contraction of “integrated electronics," in a former Union Carbide factory in Mountain View, the heart of what they would help build into Silicon Valley. Moore’s first title was executive vice president. Andy Grove, another Fairchild employee, soon joined them.

In 1971, Intel introduced its first microprocessor, holding more than 2,000 transistors. Its 8080 microprocessor was in the Altair 8800, introduced in 1975 and widely considered the first successful personal computer. In 1981, IBM selected Intel’s 8088 microprocessor to power its first personal computer.

Moore became president and CEO in 1975, then chairman and CEO in 1979. Grove succeeded him as CEO in 1987, and Moore retired from Intel’s board in 2001 at age 72, in accordance with a mandatory retirement-age policy that he instituted.

Moore “does not boast, although his record of achievement provides a great deal to boast about," Richard Tedlow wrote in his 2006 biography of Grove. “He appears to be, that is to say, simply a regular person." Tedlow quoted Grove calling Moore “a smart guy with no airs."

Today, most chip industry leaders and observers would argue that Moore’s Law no longer holds. Some of the layers of materials used to build semiconductors are only an atom thick, meaning they cannot be shrunk further. At such tiny geometries the properties of those materials that make them semiconductors break down. That destroys their usefulness as the microscopic switches used to represent the most basic form of electronic information.

Unlike succeeding Intel leaders who rebutted predictions of Moore’s Law’s demise, Moore predicted its irrelevance.

“Someday it has to stop," Moore said at an event in 2015 to commemorate his law’s 50th anniversary. “No exponential thing like this goes on forever."

Moore is survived by Betty Irene Whitaker, whom he married in 1950, as well as sons Kenneth and Steven and four grandchildren.

This story has been published from a wire agency feed without modifications to the text.

Akasa Air will hire 1,000 people; here are 5 things about its expansion plans



Bengaluru: Founder & CEO Akasa Air Vinay Dube during a press conference after completing six month of operations, in Bengaluru, Wednesday, Mar. 1, 2023.

Akasa Air is going to hire nearly 1,000 people by March 2024. Let’s take a look at India’s newest airline’s expansion plans.

Akasa Air, India's newest airline, is planning to hire almost 1,000 additional staff members and expand its fleet by March 2024. CEO Vinay Dube revealed that the airline's total employee count would rise to over 3,000 by that time, including 1,100 pilots and flight attendants. The airline, which launched seven months ago, will also begin international operations by the end of this year, but destinations have not yet been announced.

Aircraft orders and expansion plans

Akasa Air will be placing an order for a "three-digit aircraft order" by the end of 2023, Dube stated. The airline has already ordered 72 Boeing 737 Max planes, 19 of which are already in operation, with the 20th scheduled for induction in April. Akasa Air aims to expand its fleet to 28 planes in the next financial year, adding nine aircraft to its current fleet. The airline currently operates 110 flights per day, and Dube said it would increase to 150 flights per day by the end of the summer season.

Hiring process and challenges

Dube explained that hiring was always done in advance to allow for training, and the number of employees is based on the number of aircraft scheduled for delivery. When asked if post-pandemic hiring is a challenge, he stated that the airline was fortunate to attract good talent and would continue to focus on being employee-centric. 

International operations

Dube said the airline was currently working with the Ministry of Aviation to determine routes and traffic rights available for possible international destinations. He was unable to provide specifics at this time, but he did confirm that the airline is considering both east and west locations.

Recent achievements

In February, Akasa Air transported 361,000 passengers, accounting for 3% of the domestic market share. Its on-time performance was 87%, according to the latest official data. Dube expressed satisfaction with the airline's progress so far and said he was delighted with the achievement.


What the CEO said about Akasa’s targets

Dube has said that he is extremely happy with the airlines’ recent achievements. However, according to him, Akasa is not chasing any position in aviation.

"We have no market share targets, not chasing any position in aviation, and we have got a target to make customers happy, a target to make our employees happy. That is what we are doing and we can do that, that is sustainable if we have got a very strong cost structure. So, those are the three pillars we are focusing on," he said.

मोदी कौन हैं? राहुल गांधी द्वारा बदनाम समुदाय की उत्पत्ति घुमंतू है, जो 600 साल पहले गुजरात आया था

 मोदी कौन हैं? कांग्रेस सांसद राहुल गांधी को गुरुवार को 2019 के एक चुनावी भाषण के लिए मानहानि का दोषी ठहराया गया, जिसमें उन्होंने भगोड़े ललित मोदी और नीरव मोदी के साथ पीएम नरेंद्र मोदी का नाम लिया था, और सवाल किया कि "इन सभी चोरों" का उपनाम मोदी क्यों है।

मोदी कौन हैं? राहुल गांधी द्वारा बदनाम समुदाय की उत्पत्ति घुमंतू है, जो 600 साल पहले गुजरात आया था

इस मामले में शिकायत भाजपा विधायक और गुजरात के पूर्व मंत्री पूर्णेश मोदी ने भी दर्ज कराई थी।

'मोदी' एक ऐसे समुदाय का नाम है, जिसकी उत्पत्ति एक खानाबदोश जनजाति के रूप में है, और जिसके सदस्य अंततः तेल बनाने के व्यवसाय में शामिल हो गए और पूरे गुजरात में बस गए।

मोदी उपनाम वाले लोग राजस्थान, मध्य प्रदेश, हरियाणा और झारखंड सहित कई अन्य राज्यों में भी पाए जा सकते हैं।

कहा जाता है कि मोदी परिवार 15 वीं या 16 वीं शताब्दी के आसपास एक खानाबदोश जनजाति के रूप में उत्तर भारत से गुजरात आया था। इस समुदाय को 1994 में राज्य में 'ओबीसी' का दर्जा मिला था।

"परंपरागत रूप से, यह एक खानाबदोश व्यापारी समुदाय है, जो 15 वीं -16 वीं शताब्दी में राज्य में बस गया था। वे अंततः राज्य के कुछ हिस्सों में बस जाते थे और मूंगफली और तिल को तेल में पीसने और फिर उसी में व्यापार करने का पेशा अपनाते थे, "जेएनयू के सेवानिवृत्त प्रोफेसर और समाजशास्त्र शोधकर्ता प्रोफेसर घनश्याम शाह ने कहा।

'तेली-घांची (तेल-निर्माता)' समुदाय होने के नाते उन्हें राज्य में 'मोध वनिक' या 'वनिया (बनिया)' की जाति के तहत वर्गीकृत किया गया।

हालांकि, शाह ने कहा, मोदी परिवार को हमेशा एक व्यापारी समुदाय के रूप में देखा जाता था और उन्हें किसी भी जाति-संबंधी प्रतिबंधों का सामना नहीं करना पड़ता था – जैसा कि, उन्हें कभी भी उच्च जातियों द्वारा अपना माल मुफ्त में देने के लिए मजबूर नहीं किया गया था – जिससे उन्हें आर्थिक स्थिति में वृद्धि करने में मदद मिली।



मोदी के दो उपसमुच्चय

गुजरात के लेखक अच्युत याग्निक ने आगे विस्तार से बताया कि मोदी समुदाय के दो उप-समूह हैं।

"एक बनिया व्यापारी समुदाय था और दूसरा तेली-घांची खानाबदोश जनजाति थी। बाद वाले को ओबीसी का दर्जा दिया गया था, लेकिन बनिया मोदी परिवार की आर्थिक स्थिति के कारण कुछ सामाजिक स्थिति थी.'

चूंकि तेल का उत्पादन स्थानीय और मैन्युअल रूप से होता था, इसलिए हर गांव में तिल पीसने और इसके तेल को बेचने के काम में शामिल लोगों का एक समूह था।

याग्निक ने कहा, 'बनिया मोदी परिवार सभी कारोबारों में फैला हुआ था, लेकिन मुख्य रूप से घरेलू सामान बेचने या साहूकार में शामिल था.'

गुजरात के कारोबार की दुनिया में मोदी परिवार के उदय के बारे में अहमदाबाद के एक सामाजिक कार्यकर्ता जतिन सेठ ने कहा, 'आज के नीरव मोदी संभवत: पुराने जमाने के बनिया मोदी के वंशज हैं. उन्होंने केवल अपने व्यवसाय को छोटे माल से अधिक महंगे, आला उत्पादों में स्थानांतरित कर दिया है।

हालांकि, तीनों ने कहा कि समुदाय के पास कभी भी इतनी आर्थिक ताकत नहीं थी कि वह स्थानीय राजनीति में अपनी बात रख सके।

शाह ने कहा, "19वीं सदी के ग्रंथों से पता चलता है कि तेली-घांची समुदाय को तेल की बिक्री के लिए कभी भी उच्च जातियों के किसी भी दबाव का सामना नहीं करना पड़ा। "हालांकि उन्हें इसे कभी भी ब्राह्मणों को मुफ्त में नहीं देना पड़ा, लेकिन समुदाय ने सामाजिक रूप से भी कोई महत्वपूर्ण स्थान नहीं रखा।

US SEC warns of risks of buying crypto asset securities

 Unregistered offerings of such securities may not provide important data, including audited financial statements, for informed decision making, the SEC said

The US Securities and Exchange Commission on Thursday issued an investor alert warning that firms offering crypto asset securities may not be complying with US laws.

Unregistered offerings of such securities may not provide important data, including audited financial statements, for informed decision making, the SEC said.

The securities watchdog has been cracking down on the crypto industry, which its chair has called a "Wild West" riddled with misconduct. Its efforts gathered pace after November's collapse of Sam Bankman-Fried's cryptocurrency exchange FTX.

Crypto exchange Coinbase announced on Wednesday that it had received a Wells notice - a formal declaration that SEC staff intend to recommend an enforcement action.

In its investor alert, the SEC also warned investors about "proof of reserves" services offered by some crypto exchanges that are supposed to let users verify that an exchange has enough assets to back customers' holdings.

"Crypto asset entities might use these in lieu of audited financial statements in order to obscure and confuse customers about the safety of their assets," the SEC said.

Vedanta to consider 5th interim dividend for FY23 on 28 March, fixes record date

 As per the latest Axis Securities report, Vedanta topped the charts in large-cap space with the highest dividend yield of 28.6%. In the last 12 months, the company paid ₹81 per share as a dividend benefit.

Vedanta will consider the fifth interim dividend for FY23 fiscal on March 28. A board of directors meeting is scheduled on this day. The company has fixed the record date to determine eligible shareholders. Vedanta has a good track record of paying dividends to its investors.

In its regulatory filing, Vedanta said, " the Board of Directors of the Company (the “Board") is proposed to be scheduled on Tuesday, March 28, 2023, to consider and approve the Fifth Interim Dividend on equity shares, if any, for the Financial Year 2022-23."

It added that the "record date for the purpose of determining the entitlement of the equity shareholders for the said dividend, if declared, is being fixed as Friday, April 7, 2023."

That means, those investors whose names appear in the registrar of the company by end of business hours on April 7th will be eligible to receive the 5th interim dividend.

For the current fiscal year, Vedanta has paid a hefty dividend on four occasions. The first interim dividend was ₹31.50 per share aggregating to 3150% in May last year, while the second interim dividend was ₹19.50 per share which is 1950% in July, and the third interim dividend stood at ₹17.50 per share (1750%) in November of 2022.

Vedanta's fourth dividend was ₹12.50 per share (1250%) in February 2023.

In FY22 alone, Vedanta paid an equity dividend of a whopping 4500% aggregating to ₹45 per share.

As per the latest Axis Securities report, Vedanta topped the charts in large-cap space with the highest dividend yield of 28.6%. In the last 12 months, the company paid ₹81 per share as a dividend benefit.


Google Ads in 2023 - This BRAND NEW Strategy Will Explode Your Sales

 if you want to successfully Market your business online there's really only one place you need to be everywhere [Music] using my toothbrush sick wait before you get overwhelmed what if I told you that there was a brand new really easy way to appear all over the internet in front of the right people at the right time automatically without needing to become some kind of Guru level ads master in this video I'm going to show you why your business needs to become omnipresent online in order to convert way more leads into paying customers and clients and the brand new strategy that not only makes it easy but it actually works like really well you may have heard the common wisdom that the average person needs seven touch points with a business before they'll convert into a paying customer this idea was made popular way back in 1987 by Dr Jeffrey land in his groundbreaking book with the most gloriously 1987 cover of all time called money making marketing and he called this concept the rule of seven and while that was pretty spot on advice back when I was striking out in t-ball the playing field has shifted pretty dramatically in the past 35 years people have way more choices and way more marketing messages being lobbed at them every day so what that means is those seven touch points you used to need are now closer to 21. people now need to see you three times as often and that's why being everywhere is so effective and let's face it non-negotiable but obviously time and money are limited resources so how do you achieve omnipresence that being everywhere effect easily and without breaking the bank well leave it to the Geniuses over at Google to figure out a way and they've just recently rolled out their brand new campaign type called performance Max performance Max is a new goal-based campaign type that as the name implies is focused on maximizing performance more specifically it's about optimizing the performance of Google ad campaigns to increase conversions I really can do like 50 though you guys didn't get to see the whole thing when you think of Google ads you probably think of search ads right you know someone does a Google search for a business like yours and you can pay to show up first which is great but if we can pull our scoreboard up that's exactly one touch Point accounted for so what about the rest when you run a performance Max campaign you'll be able to run those search ads but it's also going to open you up to new audiences that Google's AI predicts will be high converters for you across all of Google's ad channels this includes YouTube display which are those ads you'll see on blog posts and on other websites discover Gmail and Maps because here's the thing Google knows a crazy amount of value based on what you search for sites you visit where you physically go and videos you watch on YouTube I wonder what this one says about you and all those insights are what lets Google so accurately predict who will be most likely to convert for you even when they don't specifically search all you need to do is provide Google with your goal your budget some targeting info and some creative assets that they can mix and match in whatever combination they think will convert best for each person on each platform and the really cool part is Google learns what works best through its machine learning essentially figuring out the patterns and automating the best sequence of touch points your customers need to go through before finally converting into a customer or client in other words it should automatically get better and more profitable the more you use it and this worked out really well for Fertility clinic HRC they started running performance Max ads in February this year and as a result they saw an eight percent increase in leads at a much cheaper cost of 35 dollars each compared to a hundred and forty dollars each that they were getting from standard Google ads so how do you you get started using performance Max ads well the first thing you need to figure out is the goal of your campaign So currently you've got three options sales that's if you're selling an e-commerce product on your site leads that's if you're more of a service business and you're trying to get more clients and local store visits so that's if you have a physical brick and mortar location and this goal is what Google is going to try to optimize for you next you're going to choose your budget and your bidding strategy so you've got two choices with that first of all you can choose to maximize conversions or you can choose a Target cost per conversion after that you need to provide all the creative assets that Google is going to have to work with because you're not just creating one ad here right you're essentially giving them all the raw materials that they can use to create many combinations of ads that are going to work best on different people in various places specifically here's what you'll need to give them so you need three to five different headlines one to five longer headlines two to five descriptions three to twenty images in various sizes and dimensions they'll tell you exactly what sizes and shapes they need your logo and optionally up to five over ten second long videos for YouTube ads called action text you'll just select the most appropriate one from a list think of this as basically giving the world's best poker player all the cards that they can play however will help them win the pot and in this case he just so happens to be playing for you I can also do like 50 push-ups easy and in case you're at all skeptical about this being any different than your typical Google campaign this is Casa maslam he's a fellow YouTuber who runs solution 8 a paid ads agency and he famously isn't a Google fan go watch literally any video on our channel before this one and it's nothing but us bitching about how horrible Google is how you can't trust them how all the features are crapped the Google ads began and then features began to be taken away and they never gave they only took performance Max is like the first time Google was like hey here's a bunch of cool and now this next step is optional which is setting up your targeting audience so it's a really good way to help get Google started out on the right foot so you can choose basic demographic information things like age location and gender or you can even specify people who are actually in the market for whatever it is you're offering you can even upload a list of your customers with their info and email addresses which is going to help Google find more people like your existing customers to show your ads to so if you know anything about Facebook ads this may sound familiar to you it's pretty close to what Facebook calls look-alike audiences and it's a super powerful way to Target your best prospects the main difference here is that Facebook is an app but Google is the internet but I do need to say that if your website isn't ready for the traffic that you'd be getting from a performance Max campaign you'll just be wasting your money and I've got something brand new for you it's a short fun quiz where I'm going to help you see what's holding your website back the most so that you can quickly fix it and confidently start running traffic to it so click right here to take the quiz it only takes a few minutes and I'll give you your custom action plan playlist based on what we find so click here and I'll see you there

Japanese Start-Up Creates World's 1st Flying Hoverbike, Takes Internet By Storm

 A Japanese start-up AERWINS Technologies has made a flying hoverbike, Xturismo, in the United States. Touted as the world’s first flying bike, Xturismo looks like something straight out of a film. A glimpse of this first-of-a-kind bike has been shared on Instagram by the handle entrepreneurs quote. As mentioned in their post, the co-chairperson of the Detroit Auto Show Thad Szott has tested this bike. According to him, the experience of riding this bike was smooth and exhilarating. Take a look at the bike here:


In the photo attached alongside the post, social media users see a driver testing this flying bike. Many users commented that it was not a bike but a big drone. Others said that it resembled the Pegassi Oppressor Mk II. Pegassi Oppressor Mk II is a custom hover bike featured in Grand Theft Auto Online (an online game). Another opined that this was the future of the world and very soon, the traffic will be seen in the air and not on land. A user also commented that due to these new modes of transportation which can fly, soon there will be a problem of sky rage as well.



There are a lot of other charismatic features, making this bike a favourite among social media users. AERWINS Technologies has dedicated an official Instagram account to this bike named Xturismo. It has shared many clips regarding this bike which excited the users. Have a look at this clip:



The flying bike is operating comfortably in the tough surroundings of snow-capped mountains as well. Users loved it but one of them pointed out that the bike is just hovering at a low speed which can be a roadblock in its operations. A user also wrote that the sound created by its hovering will aggregate the noise pollution.



This clip has garnered more than 2,00,000 views.

UBS to take over Credit Suisse to stem global crisis of confidence

The illuminated logos of the Swiss banks Credit Suisse and UBS are seen on buildings next to traffic lights in Zurich, Switzerland on Saturday, March 18, 2023. 

Swiss authorities have confirmed that UBS will take over Credit Suisse

UBS will take over Credit Suisse, Swiss authorities said on Sunday, in a deal to combine Switzerland's top two banks designed to contain a widening crisis of confidence in global finance.

The deal includes 100 billion Swiss francs in liquidity assistance for UBS and Credit Suisse.

Credit Suisse, a 167-year-old bank, has been the biggest name ensnared in market turmoil unleashed by the recent collapse of U.S. lenders Silicon Valley Bank and Signature Bank, forcing it to tap $54 billion in central bank funding last week.


"With the takeover of Credit Suisse by UBS, a solution has been found to secure financial stability and protect the Swiss economy in this exceptional situation," the Swiss central bank said. 

Tata Motors shares: Why the stock can surge up to 31% — explained



Natarajan Chandrasekaran, chairman of Tata Sons Ltd, speaks before unveiling electric vehicles (EV) at India Auto Expo 2023 in Noida, Utter Pradesh. 

Motilal Oswal has maintained a 'buy' rating on Tata Motors shares with a target price of ₹540, implying a 31 per cent upside potential for the stock from its current levels

Tata Motors-owned Jaguar Land Rover (JLR) is turning the corner and would be the key driver of the stock, said domestic brokerage house Motilal Oswal Securities in a research note. The brokerage also said that the monetization of stake in Tata Technologies – possible value of ₹25-47 per share for Tata Motors – could also act as a catalyst for the stock.

Motilal Oswal has maintained a 'buy' rating on the stock with a target price of ₹540, implying a 31 per cent upside potential for the stock from its current levels.

On Thursday, shares of Tata Motors are trading 0.28 per cent higher at ₹412.50 apiece on the NSE. The stock is down by about 17% from its 52-week high of ₹494.50, hit on 17 August, 2022.

This stock has risen 4.48 per cent in 2023 so far. During the last six months, the stock has lost 4.51 per cent on NSE. Market cap of the firm stood at ₹1.48 lakh crore.

For JLR, supplies are gradually improving and demand is healthy. As supplies improve, JLR should reach near the zero net debt level by FY25, aided by improved production, better margins and working capital release, the domestic brokerage firm stated.

"JLR will structurally continue its journey from being a premium brand to a premium luxury brand by focusing on its brand pull strategy and redefining Jaguar with premium positioning in the era of EVs with new launches starting from CY25," Motilal Oswal Securities said.

The brokerage said that the management is prioritizing JLR's revenue over volume to gauge progress; revenue is only 15 per cent below the FY18 peak even as volumes are down 43 per cent. "It will continue to focus on profitable growth and does not just want to be a niche player," the note said.

The management is confident of achieving 10 per cent EBIT margin for JLR by FY26 (as against 3.7 per cent in 3QFY23), driven by the normalization of many discontinuities like the premium cost of chips, vendor compensation for lower volumes, commodity/energy costs; richer mix; favourable FX; and operating leverage.

This, the note said, is after factoring in some dilution in the mix as well as an increase in VME.

Apart from this, the brokerage believes working capital release (negative working capital business) and controlled capex should help JLR inch closer to the zero net debt level by FY25E (as against EUR 3.85 billion in December 2022), which is delayed by a few quarters as against earlier guidance of FY24.

Tata Motors should witness a gradual recovery as supply-side issues ease (for JLR) and commodity headwinds stabilise (for the India business).

It is seen benefitting from a macro recovery in India, company-specific volume/margin drivers, and a sharp improvement in FCF and leverage in JLR as well as the India business.

The stock trades at 15.2 times FY24E and 12.3 times FY25E consolidated P/E and 3.8 times FY24E and 3.2 times FY25E EV/Ebitda.

Brain-eating amoeba claims another victim: tap water probable cause

 


Another fatal case of Naegleria fowleri

A man living in the Charlotte County, Florida (USA), has died after being infected by the rare brain-eating amoeba 'Naegleria fowleri'. All major American media reported this.Another fatal case of Naegleria fowleri

A man living in the Charlotte County, Florida (USA), has died after being infected by the rare brain-eating amoeba 'Naegleria fowleri'. All major American media reported this.

The infection

Officials from the Charlotte health agency said that the victim may have had some nasal washes with tap water contaminated with the microorganism Naegleria fowleri, responsible for the deadly infection.

High mortality rate

Every year, there are only zero to five cases of infection in the country, according to the US Center for Disease Control and Prevention (CDC). But the mortality rate of the microorganism is over 97%: only four out of 154 infected between 1962 and 2021 survived in the US.

What is the brain-eating amoeba

Naegleria fowleri is an amoeba, a single-celled living organism that can be found in soil and warm fresh waters such as lakes, rivers and hot springs throughout the United States. Commonly referred to as the 'brain-eating amoeba', it can cause brain infections, which typically occur when water containing amoeba rises through the nose, for example by swimming.

Past cases

From 1962 to 2021, only four out of every 154 people in the US survived a brain-eating amoeba infection, according to the Center for Disease Control and Prevention (CDC). Just last year, a boy died, infected after swimming in Lake Mead (pictured). 'Basically, you have to forcefully push water through your nose to contract this disease, it's a very strange way to contract it,' said Florida Department of Health spokesperson Jae Williams. 'It's common in fresh water, particularly stagnant water that heats up in the sun".

How Tiger Comics Aims To Bring Back The Joy Of Reading Indian Epics And Mythology

 It is hard to comprehend the thought that there is an entire generation growing up without a copy of Amar Chitra Katha in their hands. And while that thought might bring back a lot of memories, it is an unarguable fact that many of us have a better understanding of our history and mythology thanks to these simplified versions of them. Based in Kochi, Tiger Comics is perhaps a worthy successor and a companion to this reading experience.



Started by Navin Nair, with the aim of bringing indigenous Indian stories to the fore, Tiger Comics is a thoroughly professional work indistinguishable from any established set of comics out there.



"This was my husband's dream and his idea to start something like this," says Preethi Nair, his wife and co-founder.


"A lot of us have grown up on stories on mythology and history. We felt that that aspect of our lives should also be present in the lives of the coming generations. But we also wanted to do stories that have not been told. There are so many stories to be told from our traditions."


These stories aim to encourage young Indians to read more and understand the rich cultural traditions of India.


Naveen Nair was a corporate consultant who started Tiger Comics as a passion project. "He wanted to build it up slowly. He started this in 2019 and did not want to go to the market right away. His aim initially was only to start creating good content. He funded the whole thing with his personal money," reveals Preeti.


Preeti herself is an advertising writer and with her daughter, an illustration artiste and animator, have been part of the initial setup. After Naveen Nair, who took up the responsibility of the company's funding and marketing, passed away last December, the company will hit the market sometime this year.


"The idea of Indian-ness and whatever we know of our mythology, come from these books. We wanted to do it on the same lines but more relatable as well. We wanted children to be interested in it as well," says Preeti adding how these stories have shaped the minds of many over generations.


Be it Indian history or mythology, a comic book format helps draw younger audiences to reading.


In collaboration with other professional artistes, animators and historians, the books come out as thoroughly researched well illustrated works sharing intriguing bits of Indian history.


"We were very excited. We work with artistes on a project-to-project basis. We work with research scholars and historians as well. We have Vedic scholars as well with us. Many of our stories come from ancient inscriptions from Karnataka, so naturally we need scholars. There are scholars who have spent their entire lifetime deciphering and telling these stories."


"For the past two years we have only been creating content. Most of our artistes are well known senior artistes from Kerala like Shabi Karuvatta and Shaji Vasan. We have not yet hit the market," Nair reveals adding how these forms of storytelling can bring back young minds to reading.


"Today, everyone spends a lot of time on digital mediums. Comic books have always been fascinating for people for generations. This can be a start to get their interests back to reading."

10 Countries That Are Most Likely to Default

 Argentina

The country is facing economic turmoil with a weakened currency, critically low reserves, and bonds trading at a low price. Investors are concerned that the government may renege on its debt with the International Monetary Fund.

Ukraine

Russia's invasion has led to fears of debt restructuring, with bond payments due in September. The government may follow the state-run Naftogaz in asking for a debt freeze.

Tunisia

The country has a high public sector wage bill, and a significant budget deficit, and is struggling to secure an IMF program due to the president's push to strengthen his grip on power and the labor union's opposition.

Ghana

The country is facing high levels of debt, a weakened currency, and high inflation rates, with an almost 85% debt-to-GDP ratio.

Egypt

The country is struggling with a 95% debt-to-GDP ratio, a significant exodus of international cash, and a weakened currency, despite seeking help from the IMF.

Kenya

The country is spending a significant amount of its revenue on interest payments, has lost almost half of the value of its bonds, and currently has no access to capital markets.

Ethiopia

The country plans to receive debt relief under the G20 Common Framework program but is currently facing an ongoing civil war.

El Salvador

The country's decision to make bitcoin legal tender has caused investors to lose trust, leading to significant bond discounts.

Pakistan

The country recently struck a crucial IMF deal, but still faces a high energy import price, a low foreign currency reserve, and a need to cut spending.

Belarus

The country is facing Western sanctions and economic turmoil due to its support of Russia in the Ukraine campaign.

Hospitalisation not must for claiming health insurance: Vadodara consumer forum

 People can claim insurance even if they were admitted for less than 24 hours in a hospital, a Vadodara consumer forum said. The court has ordered National Insurance Company to make payment to Vadodara resident Ramesh Chandra Joshi, who had filed the complaint against the insurance firm in August 2017 after the firm rejected his claim, according to media reports.

The forum said that in the modern age new treatments and medicines have been developed, resulting in patients being treated in lesser time or even without hospitalization.

Health insurance is an important investment to protect yourself and your family against unexpected medical expenses.

Types of health insurance claims

Cashless 

The insurer settles all the medical bills with the hospital directly. However, an insured needs to be hospitalized only at a network hospital to get the benefit of cashless hospitalization.

Reimbursement

The policyholder pays for the hospitalization expenses upfront at the time of discharge and requests the insurance company for reimbursement later. Reimbursement claims can be raised at both network and non-network hospitals.

Documents required to file a health insurance claim

The following documents should be submitted to file a health insurance claim:

-Health Card (Health Insurance ID Card)

-All the consultation papers provided by the doctor

-Completely filled-in claim form

-All the investigation and diagnosis reports, such as CT scans, X-rays, blood reports, etc.

-Hospital bills with payment receipts

-Invoices of the pharmacy with respective prescriptions and payment receipts

-Discharge summary

It is crucial to understand the procedure of processing and disbursing the insurance claim. The procedure for filing insurance claims has become comparatively challenging in the last few years.

CCI clears Reliance's acquisition of Metro Cash for ₹2,850 crore




Reliance Industries Chairman Mukesh Ambani. (PTI)

RIL is the country's biggest brick-and-mortar retailer with over 16,600 stores, and a strong wholesale unit would further deepen its operations in India

The Competition Commission of India (CCI) on Tuesday said that it has approved Reliance Industries Ltd's ₹2,850 crore acquisition of German firm Metro AG's wholesale operations in India.

Reliance Retail Ventures Ltd (RRVL), a subsidiary of the oil-to-telecom conglomerate, signed definitive agreements to acquire a 100 per cent equity stake in Metro Cash & Carry India Pvt Ltd for a total cash consideration of ₹2,850 crore as the conglomerate run by billionaire Mukesh Ambani seeks to strengthen its dominant position in India's mammoth retail sector.

RIL is the country's biggest brick-and-mortar retailer with over 16,600 stores, and a strong wholesale unit would further deepen its operations in India.

Metro India operations

Metro started operations in India back in 2003 as the first company to introduce a cash-and-carry business format in the country and currently operates 31 large format stores across 21 cities with around 3,500 staff.

These stores sell products such as fruits and vegetables, general grocery, electronics, household goods and apparel to business customers like hotels, and restaurants as well as offices and companies, small retailers and kirana stores.

Half of the stores are in southern part of the country.

"The multi-channel B2B cash and carry wholesaler has reach to over 3 million B2B customers in India, of which 1 million are frequently buying customers, through its store network and eB2B app," according to an earlier company statement.

Metro India generated sales of ₹7,700 crore - its best since its entry into India - in the financial year ended September 2022.

"With a presence in 8 of the 10 large cities, the acquisition should be a bolt-on to RIL's ambition to grow its last-mile reach by leveraging the relationship with Kirana stores," Morgan Stanley said in its comments on the deal.

Its past acquisition of Just Dial, Dunzo and the recent launch of FMCG consumer goods brand, 'Independence', have been steps to get more integrated in its retail offering, build on its around 3 million kirana merchant partners and expand its presence especially in Metros/Tier 1 cities.

The acquisition would give Reliance access to a large base of registered kiranas and other institutional customers, and strong supplier network, among others.

Its retail business effectively operates 3 large different business models - B2C via its physical stores; digital businesses (Jio Mart, Ajio among others); and a B2B business. It is the largest organized retailer in the key segments of grocery, fashion and lifestyle and consumer electronics.

"Over the years, Reliance has focused on the large kirana store ecosystem in India and the acquisition of Metro's wholesale business is a positive," said J P Morgan.

Upon closing of the transaction, Metro will witness a transaction gain of about 150 million euro at closing, and higher earnings per share are anticipated, the company had said.

Metro India's equity value of approximately 0.3 billion euros implies an EV/sales multiple of 0.6x based on sales of the financial year 2021-22 and considering lease rental and other related liabilities of 150 million euros.

Speaking about this investment, Isha Ambani, Director, RRVL, said, "The acquisition of Metro India aligns with our new commerce strategy of building a unique model of shared prosperity through active collaboration with small merchants and enterprises."

Metro India is a pioneer and key player in the Indian B2B market and has built a solid multi-channel platform delivering strong customer experience.

"We believe that Metro India's healthy assets combined with our deep understanding of Indian merchant / kirana ecosystem will help offer a 0differentiated value proposition to small businesses in India," she said.

Isha is the daughter of Mukesh Ambani, chairman and managing director of Reliance Industries Ltd.

Steffen Greubel, CEO of METRO AG, said, "With Metro India, we are selling a growing and profitable wholesale business in a very dynamic market at the right time. We are convinced that in Reliance we have found a suitable partner who is willing and able to successfully lead Metro India into the future in this market environment.

"This in one hand will benefit both our customers and our employees, for whose loyalty and performance we are very grateful, and on the other hand, will enable METRO to focus on accelerating growth in the remaining country portfolio."

With the acquisition of Metro India, Reliance Retail will continue to build reach across the country to serve the entire spectrum of Indian society i.e. households, kiranas and merchants, HoReCa (hotels, restaurants, and catering) and small and medium enterprises and institutions, and be the partner of choice, the statement said.

This will also enable win-win opportunities for producers, brand companies and global suppliers, it added.

With agency inputs

'Ab number ayega inka': Ashneer Grover is eager to see how many VCs lose their jobs after Silicon Valley Bank's collapse

 Former BharatPe CEO Ashneer Grover on Sunday said he was eager to see how many Venture Capitalists (VCs) lose their jobs after the collapse of California's Silicon Valley Bank (SVB). He said the VC space needed a cleanup for a long time. SVB, which was the major lender for the tech start-ups, was shut down on Friday by US regulators due to a liquidity crunch.

According to reports, over 50 per cent of VC-backed start-ups in the US had parked their money in the bank. Grover said that the VCs are not founders and it's not their own money that they deploy.

Former BharatPe CEO Ashneer Grover


"VC space needed a cleanup for a long. Ab number aayega inka - too stupid people have made too much easy money in VCs doing nothing," he said in a tweet.A venture capitalist is a private equity investor that provides capital to early-stage companies in exchange for an equity stake. 

Suneel Yadkikar, who shares insights on start-ups, seemed to concur with Grover. He said while it was important to hold individuals accountable for their actions, let's not forget the bigger picture. "The SVB bank failure highlights the need for a thorough evaluation of the VC space and the role it plays in the startup ecosystem," he wrote on Twitter. "The moment has come for industry-wide improvements to the system."


SVB, which was the 16th largest bank in the US, announced a loss of approximately $1.8 billion from a sale of government treasuries and mortgage-backed securities on Wednesday (March 8). 


The same day, its holding company - SVB Financial Group - announced it was conducting a capital raise. Following this, investors and depositors reacted by initiating withdrawals of $42 billion in deposits from the bank on March 9, causing a run on the Bank.


The bank soon ended with a negative cash balance of approximately $958 million on Thursday. Despite several attempts from the bank to transfer collateral from various sources, it did not meet its cash letter with the central bank and deposit withdrawal put it in a situation where it became incapable of paying its obligations.


On Friday, the US regulator took control of the bank saying its liquidity position was inadequate, "and it cannot reasonably be expected to pay its obligations as they come due".

Bankruptcy of US bank a red flag? Is there any possibility of a crisis like 2008; understand in detail

 The world's leading technology startups and venture capital firms know Silicon Valley Bank (SVB) well. After the bankruptcy of SVB, the regulator closed the bank by freezing its assets.

The world's leading technology startups and venture capital firms know Silicon Valley Bank (SVB) well. Following SVB's bankruptcy, its regulator closed the bank by freezing its assets. It was the biggest collapse of a financial institution since the collapse of Washington Mutual a decade earlier. It can be understood from this that how big a failure it is. Some startups having bank accounts are facing difficulties in paying their employees. They fear that they may have to shelve their projects if they cannot access their funds. 



Some questions and their answers

Now the question arises why the bank failed? Who was most affected? Could this event affect the wider banking system in the US or not? Let's try to find out the answers to these questions. The Silicon Valley bank was hit hard over the past year by the Federal Reserve's aggressive plan to raise interest rates to combat inflation, along with a decline in technology stocks. The bank had bought billions of dollars worth of bonds over the years using customer deposits. This is what banks usually do. These investments are generally safe, but as interest rates rise, the value of these investments has fallen. Because they were getting less interest as compared to today's higher interest. Normally this is not a problem, as banks invest for the long term. But things can change when they have to sell in an emergency.


SVB's customers were

largely startups and other tech-focused companies, which were struggling for cash in the last one year. Venture capital funding was drying up. Companies were not able to find additional funding for unprofitable businesses. So he had to use his existing funds, which he usually had deposited in a Silicon Valley bank. So clients from Silicon Valley began withdrawing their deposits. Initially this was not a major problem, but later the bank started receiving requests from customers for withdrawals. So the bank was forced to sell its assets to meet these requests. Selling the bonds at a loss effectively bankrupted the Silicon Valley bank. The bank tried to raise additional capital through outside investors, but was unsuccessful. 


So with little to no apprehension,

Bank regulators had no choice but to seize the assets of Silicon Valley Bank, in order to protect the remaining assets and deposits at the bank. Is this a sign that we may face a 2008-like crisis again? For the time being, no, and experts agree that it is unlikely to spread to the wider banking sector at the moment. Silicon Valley Bank was large, but limited exclusively to the technology world and VC-backed companies. Its participation was much in line with that particular part of the economy, which was badly hit in the last one year. Other banks are much more broad based across multiple industries, customer bases and geographies. The Federal Reserve believes that the big banks will survive even in the event of a major recession and widespread unemployment.

A unique Women's Day gift to the women of Kalwa; 'Women's Zone' started at Mukund Keni Sports Complex

Mandar Keni proposed the concept that there should be a separate section for women in this sports complex equipped with various sports.


Thane:   A 'Women's Zone' has been started at the Mukund Keni Sports Complex in Kalwa with the concept of 'Strong Women..Strong Family'. Facilities such as Zumba, Acupressure Walk, Yoga and Open Gymnasium have been made available for women here and on this occasion NCP has given a unique gift to the women of Kalwa on the occasion of International Women's Day.

 Under the guidance of NCP leader Jitendra Awad, a 'Women's Zone' has been started in Mukund Keni Sports Complex from the concept of Mandar Keni. With the concept of 'Strong Women..Strong Family', a separate section for women only has been created in the sports complex and this is the first attempt in Maharashtra, claimed by NCP. A few months ago , near Chhatrapati Shivaji Maharaj Hospital in Kalwa . Mukund Keni Sports Complex was inaugurated. Mandar Keni proposed the concept that there should be a separate section for women in this sports complex equipped with various sports. From his concept, a separate department has been created with Zumba, Acupressure Walk, Yoga and Open Gym keeping the idea of ​​'Strong Women..Strong Family' in front.

On the occasion of Women's Day, NCP's Thane-Palghar Women's President Rita Awad and Thane Municipal Corporation's former opposition leader Pramila Keni inaugurated this separate hall. NCP City Working President Surekhatai Patil, former corporators Aparna Salvi, Manisha Salvi, Manali Patil, Mandar Keni etc were present on this occasion.

Women's Zone will continue for the day

self The women's zone at Mukund Keni Sports Complex will open at 7 am and will continue for the whole day. As this is the first time in the state to start a separate section for women in a sports park in this manner, Mandar Kane is being appreciated.

CEO of Drew Beacon discusses their investment strategies and India's success in managing inflation

 Richard Pattle, CEO of Drew Beacon, a Bangalore-based firm that manufactures its own alternative investment funds, discusses their various investment strategies including their flagship fund launched in September 2019, which takes exposure to Nifty 50 companies and overlays it with futures, options, and derivatives positions. Pattle notes that their PMS launched in August 2021, uses back-tested data to identify the behavior of Nifty 200 companies under various factors to make alpha plays. Pattle also highlights concerns regarding inflation, stating that it is a huge worry globally, and that India has done well in managing it, with the government taking a relatively conservative approach. He believes that India is well-placed to navigate inflation concerns and that outperformance of India is likely to get stronger going forward.









I'm the um co-founder and CEO of uh Drew Beacon we're based in Bangalore and we manufacture our own alternative investment funds for onshore investors we also have our own PMS uh which is our Nifty 200 product as well and we also have a a presence in gift city of international investors from around the world including investors from here in Dubai who want to invest into the equity Capital markets and we operate a hybrid long-only long short funds as well and last but not least we also do wealth management for ultra high net worth and high net worth clients as well right and can you take you to uh the strategies that you have yeah so our first our Flagship fund was launched in September of 2019 it takes exposure to nifty 50 companies and then we overlay that with our own Futures and options and derivatives positions to make the uh the portfolio about half as volatile but still outperform the market over a multi-year Time Horizon 

so that's been very popular to investors who are currently in India for overseas investors we have a very similar strategy running out of GIF City we also have another onshore fund that is a mix of nifty 200 and debt as well and that again is a an agile fund that aims to outperform that weighted index uh if you were doing that passively and then last but not least our PMS was launched in August of last year again focused on Nifty 200 companies uses a huge amount of back-tested data to identify the behavior of those stocks when certain factors are under um underplay so we call that the equity Factor Quant PMs and that is not going to reduce the volatility necessarily of the underlying portfolio and held in the traditional dmat way but actually is an alpha play so it's all about Alpha over and above the return of the Nifty 200. right um so you talked about the stocks that 250 stocks in the universe if we say realistically is 300 companies even though six thousand uh come also are listed and these 300 has been the focus of mutual funds and then the PMS so how do you what do you do create Alpha compared to let's say mutual funds yeah well 

it's all around for we have two lots of uh long only um as I as I said our alternative investment funds are chiefly focused on uh nifty 50 so an even smaller Universe there but we have um a small but very highly focused team based in uh Bangalore obviously you've got a vast experience in this so we're trying to generate some Alpha there but going specifically to the PMS that's an exciting uh product for many of our clients because it is using as I say all of these data points and the behaviors of these stocks uh under perhaps around 120 factors that may be a player any one single time so that we know when to enter and to exit a slightly higher churn 

because it's a very active uh obviously set of strategies that are running on that but it is uh you know this isn't about stock Pickers in isolation sitting out obviously the the fundamentals are fed into um you know our own dietary Algos for producing the model portfolio but it's around and the the analysis of this vast amounts of data for each of these companies going about 10 years right uh let's talk about inflation I mean it was uh until a few months back it was a very big concern globally then it came down a bit uh but recent data points are like suggesting it might be sticky it's not going down yeah so how big is that uh worry is that inflation part uh globally 

I think it's a huge worry I think the inflation again we and true Beacon have been talking and highlighting the dangers of inflation uh for the last 18 months or so before it's become this sort of mainstream uh conversation in in financial markets we've seen central banks around the world that have come too late to the party too little too late um and I think actually in comparison India has done very very well at managing um inflation has been very cautious and so on but if we look at other economies we still have double digits inflation uh the the the normal inflation of pre-pandemic was clearly in the sort of you know two three percent Zone um they there are some signs that the inflation is certainly not Rising but it's not falling as quickly as possible and this has been the story for when um major economies perhaps in the early 1980s and so on uh you know it takes a number of years to get inflation under control 

I think most worryingly perhaps in some other economies around the world is wage pull inflation and that makes this even more sticky because once you start inducing that into the economy it's not just about dampening down consumption it's also about what you do for for companies salary Bills going forward as well so that baking that in makes it even more dangerous so it remains a big concern for for us when we look at other markets in the Alesso because it has dealt with inflation for you know a moderate level of inflation for quite a few decades it seems quite well uh placed to to navigate that and also as I say I think the government in India has taken a relatively conservative approach on making sure that it's kept under control all but that doesn't plunge the economy into you know a very difficult couple of years so last year we saw India relatively outperforming yeah markets highly underperforming yeah uh now the things sort of reversed in the first few weeks of this year yes do you 

think with the inflation worries coming back that an outperformance of India is going to get stronger going ahead yeah I do I think uh as I mentioned in one of the panels earlier on uh I was in the US a couple of months ago and I was talking about how our fund and gift City if we look at we launched in in May of 2021 and we looked up until the end of last year uh a new Rank and stack all of the global indices whether it be in the US the UK France Germany Singapore Hong Kong Shanghai um you know India in dollar terms even with the rupee depreciation was the only one in positive territory and it was outperforming all the other Global indices by between 10 and 45 percent things have changed and that's not necessarily what has happened to the Indian markets in isolation it's what's happened to the other Global markets my own personal view is that um there has been perhaps um a little bit of over enthusiasm uh particularly in the U.S markets uh even back home for me in in the UK over the last couple of months and so I wouldn't be too concerned about it and I would also point to the very strong dollar 

of course the dollar as a historic uh you know highs over the last couple of um decades and that's not helping when we look at dollarized returns of course but that again I think will be a rather transient phase as the world gets back to normal in H2 of this calendar year right so what would be the next big triggers for the market the markets have become like quite a little bit boring in the recent past what would be the next big trigger that take it Forward negative side positive side um we I'm I'm not that I'm not a investment uh professional myself we have obviously my co-founder Nicole kamath who's got huge experience here we have our own CIO who manage all of that what I'd say markets are never boring by the way uh they're always exciting uh minute by minute but I think that um what we're looking you know with the strategy is that we run are not necessarily fixated on um exactly timing issues in terms of how the markets will behave either are hedged alternative investment funds are trying to reduce that volatility so it's a it's a more of an all-weather approach um so that we are continually that weighted Benchmark of of asset allocation between fixed income uh and the equity markets we're trying to outperform or indeed whether markets go down by five percent up by 10 we're trying to score positive Alpha 

so for us um we uh we're we're looking at that um I think for the rest of of this year I think we're all waiting for Global markets to get into equilibrium in terms of what is real consumption not consumption that is post pandemic India obviously has got quite a compelling although less optimistic than we had all thought in terms of GDP growth but you rank and stack that across the world that continues to be a great story and um we you know we're continually also looking at our International investors and what products they want as well so we we started in gift City uh 

we're talking to institutions and so on about what foreigners want in terms of equity exposure in India but also what we can do for our high net worth and ultra high net worth clients from India outside as well possibly under lrs right you're talking about the gift City for the interview uh recently the tedious part uh got increased on lrs investment yes uh how big is that practice it's obviously um some it's it's certainly not going to help with with lrs 

I mean I think that for us we're exploring how we can build portfolios for our clients who are onshore in India not just in the country but overseas as well and that's part of you know most individuals wherever they are in the world they have Global exposure they have India exposure or Home Country exposure and so on I think for for us um what uh we hope at some stage to be able to do instead of lrs flowing out to places like Dubai or to Singapore or to London to the US is it um that actually India is able to set up a hub uh in gift City uh to allow Indian Nationals to participate in global markets that are on the gift 

City exchanges um so that they can diversify their portfolios uh and actually so that India isn't losing that business to places like the UAE okay got it uh one question in the PMS industry in India Indian PM is alternative investment industry uh it has been pitched a place where uh there's like different style of invest investing concentrating bits uh they can cater to individual needs uh the risk profiling and everything uh and it can generate Alpha but in the if we look at Short Term period three four years I mean the five seven years period uh 

there's been underperformance overall in terms I'm talking not talking about specific PMS industry um how would you address that and how long an investor should wait in the in this alternative uh segment to get that out performance yeah well this is an India issue it's a global issue since uh investing started uh and so we're all in a game of uh obviously it's either trying to outperform uh a passive strategy that the investor might take or indeed to score Alpha 

I mean those are the two options uh I mean it's a very hard thing to do if it was easy everyone would be doing it uh I'm delighted you know from our point of view our aifs if you look at that weighted Benchmark we've we've actually doubled the weighted Benchmark um if you look at our three and a half year track record and that's done through um the analysis of where the market is going and within that running very effective strategies and sub strategies within our fund that will contribute to the overall p l for our PMS again you know very early days 

but we already have three four percent you know Alpha over a six month time period and and that will go up and down but I think that foreign investor doesn't matter where you're investing you have to take you know an approach where it we really need to look at two three four years to see whether that player is capable not just of scoring out for outperforming the weightier Benchmark 



but actually to do that consistently so I think that's what our investors uh look to right uh not talking about the Global Investors who want to invest in India uh like we're in Dubai we are pitching alternatives to um nris and then recently reports came like Hindenburg and George Soros comments coming up uh does it uh impact India's appeal in any way I thought well I think these the news stories like these going around the world are never going to be helpful to India or any other country I mean this is not an issue that's particular I mean we have to remember where the where the report came from and their vested interest in making sure that the company under scrutiny um the the stock price and the metrics do fall of course um but I think that anything that um either implies a lack of governance at um country or regulator level is not helpful however um whether it's this particular group under scrutiny other Global groups under scrutiny I think you have to be patient to find out uh which of these um allegations uh have any substance if any um and to allow the regulator in whichever country to do their business as well to investigate them fully so uh obviously anything that's you know a negative story for any corporate anywhere in the world is not going to um you know have a very positive light in the country that operates in but this is not a an issue particular to India it's happened all over the world and it will continue to happen as well