Month: July 2021

PM and Himachal CM declare aids for families of those killed due to landslide

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PM Narendra Modi has announced an ex-gratia of ₹2 lakh each for the families of the nine tourists killed in the landslide incident in the Kinnaur district of Himachal Pradesh. A video of the incident showed huge boulders rolling down a hill and crashing onto a bridge and passing vehicles. The tourists’ vehicle was hit by the boulders. Rs. 50,000 would be given to the injured. Whereas, Himachal Pradesh CM Jairam Thakur also announced an ex-gratia of ₹4 lakh for families of those who died in landslide incident. He added…

MSME Minister Narayan Rane has no plan to implement rating system for MSMEs

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The new MSME Minister Narayan Rane had recently said in the Lok Sabha that there is “no” plan by the government to implement a rating system for MSMEs. Back in November 2019, Gadkari had announced that the government is in the process of launching ‘Digital data-based credit ratings’ for MSMEs to enable them to get bank loans on the basis of the ratings. For MSMEs with AAA rating, the government was expected to buy 15 percent of the amount raised by them from public markets as equity stakes. The move was intended to encourage MSMEs to raise…

Bizongo scales to $150-Mn in annualised revenue; nears profitability

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Tech-enabled B2B e-commerce platform for customized goods, Bizongo is set to turn profitable as it achieves $150 million in annualized revenue. The company’s topline grew by 5X as compared to its pre-pandemic levels. Bizongo aims to clock $500 million annualized revenue by FY22-23.   The remarkable growth comes on the back of Bizongo offering its proprietary platform for replenishing and supplying more than 10 million Personal Protective Equipment (PPE) for healthcare workers and launching a new vertical in textiles and apparel, which contributes 40 per cent to the overall business. The packaging business noted…

France warns on home and office routers come under attack

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France says China state hackers are using compromised routers in massive attack campaign. The officials say hackers are targeting organizations through compromised routers. France’s National Agency for Information Systems Security(ANSSI) has warned national businesses and organizations that the group was behind a massive attack campaign that was using hacked routers prior to carrying out reconnaissance and attacks as a means to cover up the intrusions.   “ANSSI is currently handling a large intrusion campaign impacting numerous French entities,” an ANSSI advisory warned. “Attacks are still ongoing and are led by an intrusion set…

Saudi Aramco confirms the data leak after reports of cyber ransom

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Saudi Aramco has confirmed the report that certain company files were leaked after hackers reportedly demanded a $50 million ransom from the world’s most-valuable oil producer.   The Middle Eastern oil major said in an email. “We confirm that the release of data was not due to a breach of our systems, has no impact on our operations, and the company continues to maintain a robust cybersecurity posture.” As reported by the AP agency, 1 terabyte of Saudi Arabian Oil Co. data had been held by an extortionist, citing a web page…

Arvind Fashions to sell Unlimited business to V-Mart for ₹150 crore

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Arvind Lifestyle Brands, a wholly-owned subsidiary of Arvind Fashions, has signed a definitive agreement to sell its value-fashion retail chain Unlimited to retailer V-Mart Retail Ltd., for an estimated Rs150 crore in an all-cash transaction.   The transaction will include the sale of Unlimited’s 74 value fashion retail stores across South and West India, warehouses and inventory. Arvind Fashions will use the proceeds for debt reduction and for working capital.   In addition, there are contingent payments to be received, based on certain milestones achieved by V-Mart over next few years for…

Web service provider Akamai after 29,000 sites face outage, says we have implemented a fix

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After around 29,000 websites faced outage globally, web backend services provider Akamai Technologies said that they had experienced a “service disruption” and have now implemented “a fix for this issue”.   “Based on current observations, the service is resuming normal operations,” it added. Major websites that faced outages include Paytm, Zomato, PlayStation Network, FedEx, UPS, Airbnb and Amazon.   DNS is a service that translates readable domain names to machine readable IP addresses, connecting it to a server and delivering the requested page on the user’s phone or laptop.   This is the third such…

Salary, pension and EMI payment rules to change from August 1, says RBI

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RBI has come out with a friendly policy and changed the rules of the National Automated Clearing House (NACH). These changes will come into effect from August 1, 2021.   Now you will not have to wait for working days, for your salary or pension to be credited. You will get these services throughout the week. RBI Governor Shaktikanta Das announced that in order to further enhance the convenience of customers and to avail the benefits of 24×7 Real Time Gross Settlement (RTGS), NACH ( Currently available on working days…

Twitter USA doesn’t hold a single share in Twitter India: Twitter India MD in HC

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Twitter India’s MD Manish Maheshwari described Twitter India as an “independent entity”, claiming, “Twitter USA doesn’t have a single share in Twitter India.”   The submission was made by Maheshwari’s legal counsel in Karnataka High Court. The bench was listening to Maheshwari’s plea against UP Police‘s notice seeking his personal appearance in connection with a video of an alleged hate crime.   Senior Advocate C V Nagesh told the Karnataka High Court on Thursday that Twitter Inc is an independent organization and it is totally different, while Twitter India is…

IT department raids Dainik Bhaskar premises across the country

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Dainik Bhaskar group, has come under the scanner of the taxmen. The Income Tax department launched extensive search operations and raids at multiple locations, including in Delhi, Madhya Pradesh, Rajasthan, Gujarat and Maharashtra.   In Bhopal, I-T personnel also searched the residence of Sudhir Aggarwal, the Bhaskar group’s promoter.   According to sources, there were more than 30 premises, including offices and residential premises of the promoters of the group, are being raided/searched by over 100 taxmen in a joint exercise launched on Thursday morning.   On the website of…