Fraud, threats, sexual harassment: Zilingo's Ankiti Bose files FIR against co-founder, ex-COO; Kotak Mahindra Bank to see de-rating post RBI action?
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Kotak Mahindra Bank to see de-rating post RBI action? Here's what analysts said
Brokerage firm Macquarie has called Reserve Bank of India's actions of private lender Kotak Mahindra Bank Ltd., "a significant setback." The firm expects a medium-term de-rating for Kotak Mahindra Bank, similar to HDFC Bank's de-rating that took place after the regulator's actions on India's largest private lender in 2020.
Macquarie highlighted in its note that a lot of savings accounts are opened through Kotak Bank's 811 digital channel and majority of the unsecured products are also done digitally.The ban on digital on-boarding is bound to affect growth over the medium-term, Macquarie wrote in its note.
Meta shares plunge 15% after subdued guidance, increased capex overshadow earnings beat
Meta, the parent company of social media platform Facebook plunged as much as 19% in extended trading on Wednesday after its second-quarter revenue guidance missed analyst expectations.
The Mark Zuckerberg-led company expects sales in the June quarter to range between $36.5 billion to $39 billion. The mid-point of that range, $37.75 billion, is below the average analyst estimate of $38.3 billion.While the company no longer reports daily and monthly active users, it gives a figure for "family daily active people," which stood at 3.24 billion during the quarter, a growth of 7% year-on-year.
#TechTalks??
Mark Zuckerberg asks for patience after Meta’s AI push irks investors
Mark Zuckerberg is asking for investors to stay patient. Again. After Meta Platforms Inc revealed that it will spend billions of dollars more than expected this year — fueled by investments in artificial intelligence — the company’s chief executive officer did his best to soothe Wall Street. The spending forecast, coupled with slower sales growth than anticipated, sent the shares tumbling as much as 19% in extended trading.
It was a familiar pitch for Zuckerberg, who has said before that the company’s futuristic technological bets will eventually pay off — and that savvy shareholders should stick around.
Mark Zuckerberg’s base salary is $1 but other income is $24.4 million
Mark Zuckerberg holds the distinction of being Meta's lowest-paid employee, at least on paper. In 2023, his base salary was a modest $1, a stark contrast to the $379,000 median income for other employees at the tech giant, Fortune reported.
When compared to the broader tech industry, where salaries typically range from $35,000 to $120,000 depending on the role (according to Indeed), Zuckerberg's $1 salary seems even more symbolic.
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Earn smarter returns with Real Estate Investment Trusts
India's commercial real estate market is ripe with opportunity - we are, after all, a nation that is on the rise. Our economic juggernaut is moving at high speed towards a $5 trillion economy, and it shows in the sheer number and variety of businesses that are on the rise.Historically, the allure of investing in commercial real estate has been out of reach for the average investor: high entry costs and a lack of liquidity. These factors have traditionally kept average investors at arm's length from this asset class. This landscape, however, is undergoing a transformative shift, thanks to the advent of Real Estate Investment Truts (REITs).
How big is Kotak Mahindra Bank's credit card business
The Reserve Bank of India (RBI) has prohibited Kotak Mahindra Bank from onboarding new customers through online and mobile banking channels. It has also halted the issuance of fresh credit cards with immediate effect.This action comes as a result of deficiencies identified in the bank's IT risk management, the RBI said.
What exactly went wrong with Kotak Mahindra Bank?
Kotak Mahindra Bank has been directed by the RBI to cease and desist from acquiring new customers digitally and issuing fresh credit cards due to concerns regarding its IT infrastructure and risk management practices.Despite repeated advisories from the RBI, the bank reportedly failed to address these concerns comprehensively and in a timely manner, prompting the regulatory action.
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Fraud, threats, sexual harassment: Zilingo's Ankiti Bose files FIR against co-founder, ex-COO
Zilingo founder Ankiti Bose has filed a First Information Report (FIR) with Mumbai police, accusing two of the company's top executives, co-founder Dhruv Kapoor and former Chief Operating Officer (COO) Aadi Vaidya, of cheating, fraud, criminal intimidation, as well as allegations of sexual and mental harassment.
In a six-page complaint, Bose alleged that Kapoor and Vaidya have engaged in deceptive activities, misleading both her and the company's investors in an attempt to gain financial advantages and coerce her into relinquishing her shares and business under false pretences. Moneycontrol has seen a copy of the FIR and reviewed the six-page complaint.
Accacia raises $6.5 million in pre-Series A funding to drive decarbonisation in real estate and infrastructure
Accacia, a decarbonisation platform focusing on the real estate and infrastructure sectors, has successfully closed a $6.5 million pre-Series A funding round. The round was spearheaded by Illuminate Financial, a specialised venture capital firm known for its focus on enterprise fintech companies.Speaking to CNBC-TV18, Annu Talreja, Founder & CEO of Accacia, emphasised the significance of their platform in addressing the complex emissions tracking challenges prevalent in real estate sector.
#ExpertEdge??
How's innovation helping Indian single malts break barriers
The Indian single malt landscape is on an upward trend — poised alongside global counterparts. As the global whisky landscape evolves, India's single malts are transcending conventional boundaries and setting new standards of excellence — take, for instance, the intricacies of liquid profiles striking a delicately harmonious balance between tradition and innovation. Essentially, the signifying factors of the Indian liquid profile comes down to the technicalities of the distiller, the impact of Indian terroir, and of course, the no-age claims.?
Here's an opportunity for India as Western financial services firms look eastward for talent
As technology gains centre stage, outsourcing continues to prevail as a viable cost-saving and strategic option for financial services businesses. Led by banking, asset management, and more recently, private equity and private credit, firms have pushed the pedal on their outsourcing programmes, which promise to grow in complexity and intensity.
In an increasingly data-driven world, it’s not surprising that extending existing teams through resource augmentation has gained major traction. This approach found popularity during the pandemic as businesses began to appreciate the value of teams working remotely, and potentially, from anywhere in the world. Companies offering strategic resource augmentation services thrived during the pandemic, serving as a pillar for the financial services market for this very reason.?
2024 Lok Sabha Elections | PM's Rajasthan speech — has it anything to do with the post-poll mood of the first phase
Prime Minister Narendra Modi’s launching of a severe attack on the Congress and interpreting contents in its election manifesto triggered sharp reactions and counterarguments from national political parties.
That PM Modi chose to single out the Congress’ promise to redistribute wealth would translate into family treasure being taken away from the majority community and handed over to the minorities or rather Muslims stirred the proverbial hornet’s nest.
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Associate Partner
10 个月Truth always prevail. Don't worry
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10 个月it was great information and advice