Here's how NVIDIA & Uniphore are shaping the future of AI across sectors; Education Minister takes responsibility for UGC-NET cancellation; Tech & mor
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JM Financial cannot manage public debt issues till March 2025, to completely discontinue IPO financing biz
Market regulator Securities and Exchange Board of India (SEBI) has barred JM Financial Ltd. from taking any new mandate as the lead manager in public issue of debt securities until March 31, 2025 or any other date further specified by the regulator.
The directions only pertain to JM Financial's role as lead manager to public issue of debt securities and not for equity instruments, JM Financial said in an exchange filing on Thursday.SEBI's order further states that JM Financial may continue to act as a lead manager to public issue of debt securities for 60 days with regards to existing mandates and not new ones.
Here are some of the prima facie findings in SEBI's interim order where JM Financial acted as one of the lead managers to a public issue of Non-Convertible Debentures (NCDs)
These mutual fund investors may receive dividends up to ?9.9 per unit today
Aditya Birla Sun Life Mutual Fund and Franklin Templeton Mutual Fund have declared dividends for select schemes, offering returns up to ?9.9 per unit. The record date for these dividends has been fixed as June 21, 2024.
This means investors who hold these schemes by this date will be eligible to receive the declared dividends.
Specifically, for Aditya Birla Sun Life Mutual Fund, investors in the Aditya Birla SL Dividend Yield Reg-IDCW scheme will receive ?0.501 per unit, and those in the Aditya Birla SL Dividend Yield Direct-IDCW scheme will receive ?0.90 per unit.
Education Minister takes responsibility for UGC-NET cancellation, announces high-level committee to reform NTA
Union Education Minister Dharmendra Pradhan has taken full responsibility for the cancellation of the UGC-NET exam and announced the formation of a high-level committee to enhance the National Testing Agency's (NTA) structure, functioning, examination processes, transparency, and data security protocols.
"The high-level committee to review and improve the functioning of NTA would be notified soon," the minister said, adding "Let us have faith in our systems and no irregularities or malpractices will be tolerated by the government."About the cancellation of the UGC-NET examination for selection of junior research fellows, assistant professors and PhD scholars, Pradhan said the exam paper was leaked on Darknet and added that the question paper that was circulated on the social media platform, Telegram, matched with the original question paper.
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Here's how NVIDIA and Uniphore are shaping the future of AI across sectors
In an interview to CNBC-TV18, Shanker Trivedi, Senior Vice President of Enterprise Business at NVIDIA, and Umesh Sachdev, CEO of Uniphore, shared their insights into the transformative journey of their companies and the broader AI landscape.
Trivedi highlighted how generative AI has become a pivotal application in their platform, with years of collaboration with developers, research labs, and startups. He added that substantial groundwork laid over decades is now coming to fruition with significant adoption across sectors like healthcare, financial services, and telecom.
Uniphore CEO Umesh Sachdev eyes IPO amid expanding artificial intelligence market
Umesh Sachdev, Chief Executive Officer (CEO) of Uniphore, stated on Thursday (June 20) that while he sees the potential for an Initial Public Offer (IPO) as a significant milestone in Uniphore's journey, it's not the ultimate goal.
In an exclusive interview with CNBC-TV18's Shereen Bhan, Sachdev clarified, "Going public is not the destination. It's going to be a milestone." He underscored the importance of market conditions, stating, "It's market-dependent. There is stuff that we don't control."
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Budget 2024: Mutual fund industry seeks parity in tax treatment and uniform capital gains tax
With the budget announcement just around the corner, there’s a lot of buzz in the mutual fund industry. This year, the industry is particularly focused on what changes the government might bring in terms of taxation on different asset classes.
Last year, there was a significant change when the indexation benefit for debt mutual funds was removed, aligning their taxation with that of fixed deposits.
But this year, the industry has a few key requests.Amarpal Chadha, Tax Partner at EY India, highlighted that the mutual fund industry, represented by the Association of Mutual Funds in India (AMFI), is hoping for the elimination of taxes on switches between different types of mutual fund plans.
EPFO records all-time high addition of 18.92 lakh net members in April
The Employees' Provident Fund Organisation (EPFO) has reported a significant milestone in its latest provisional payroll data. It revealed a record addition of 18.92 lakh net members during April 2024.
This marks the highest monthly increase since EPFO began publishing payroll data in April 2018. According to the data, there has been a 31.29% surge in net member additions compared to the previous month of March 2024. Moreover, the year-on-year analysis indicates a growth of 10% in net member additions compared to April 2023.
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Why government servants can’t expect promotion as a matter of right
SC upholds merit-cum-seniority in appointment of government servants?
On May 17, the Supreme Court of India while disposing of the writ petition in? Ravikumar Dhansukhlal Maheta & Another versus High Court of Gujarat & Others, held that a government servant cannot expect promotion as a matter of right.
It upheld the Gujarat government dispensation that set store by merit-cum-seniority in appointment of judges.?Judicial intervention at best can be made only when fundamental rights, chiefly right to equality, under article 16 of the Constitution is breached by such state policy. The Apex Court took pains to emphasise that the Constitution makers had deliberately not addressed the issue of promotion perhaps to allow room for meritocracy. In a way the Court’s verdict is a setback to time servers and those who oppose lateral entry which consists in attracting talent from outside rather than from inside alone.
Mahindra Group CEO calls for collective action to combat climate change
'Energy is the golden thread that intertwines economic growth, social equity, and environmental sustainability.' These words, spoken by Ban Ki-moon, former Secretary-General of the United Nations resonate deeply.
As the global community grapples with the crucial transition towards sustainable energy systems, it's imperative to consider insights from the developing world. Their perspectives on transforming energy demand can offer invaluable lessons as we navigate this global transition. To limit global warming to 1.5°C, we need to cut emissions by about 7% annually, but they're rising by 1.5% each year, as noted in the World Economic Forum (WEF)’s CEO Climate Alliance report.