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Paytm Faces Allegations and Investor Withdrawal Following RBI Action

A Mumbai grocery shop switches to cash payments in response to the Reserve Bank of Indias order to cease operations of its banking division for regula

A Mumbai grocery shop switches to cash payments in response to the Reserve Bank of Indias order to cease operations of its banking division for regulatory noncompliance, raising doubts about the future of the widely used digital service Paytm. With 330 million customers, Paytm is accused of financial crimes, a claim it refutes. The RBIs decision causes investor withdrawal and affects small firms that rely on Paytm for transactions. While founder Vijay Shekhar Sharma is trying to contain the damage, continued legal issues raise questions about corporate governance in Indias IT industry. The situation raises concerns about the effectiveness of regulatory monitoring in wellknown companies and management boards. Read More..

B2B Tech News | 4 days ago      

Bitcoin Surges Past $50,000 on Impending Rate Cuts and ETF Approval

Thanks to the approval of U.S. ExchangeTraded Funds ETFs that follow its price and hopes of imminent interest rate reduction, Bitcoin surged beyond $5

Thanks to the approval of U.S. ExchangeTraded Funds ETFs that follow its price and hopes of imminent interest rate reduction, Bitcoin surged beyond $50,000 and reached its highest level in almost two years. The cryptocurrency reached $49,899 at lunchtime on Monday, up 16.3% year. The jump was driven by increased inflows into BTC spot ETFs after the SEC approved the first U.S. spot bitcoin ETFs on January 10. Estimates of the significant inflows that analysts anticipate into these ETFs range from $10 billion to $100 billion. Aside from waiting for judgements on Ether ETF applications that are still pending, investors are also looking forward to the April "halving" of bitcoin, which will signal essential turning points in the development of the cryptocurrency industry. Read More..

B2B Tech News | 4 days ago      

Investors Seek Next NVIDIA in Arm Holdings Amid AI Chip Demand Boom

Arm Holdings options trading has been frantic due to the boom in Artificial Intelligence AI equities, which has caused its shares to rise by 80% since

Arm Holdings options trading has been frantic due to the boom in Artificial Intelligence AI equities, which has caused its shares to rise by 80% since Wednesday. The demand for the companys AI chip design technology, along with its optimistic quarterly projection, has caused a spike in options volume that has surpassed the daily typical trading volume by ten times before the results announcement. According to analysts, investors are looking for the "next NVIDIA," this belief has been fueled by Nvidias impressive 220% increase in value over the last year. Record 600,000 contracts were traded in Arm on Monday alone. The most active contracts were call options, with share prices climbing above $185 by Friday. Read More..

B2B Tech News | 4 days ago      

U.S. Government Accountability Office Reveals Data Breach Affecting 6,000 Employees

A data breach that affected over 6,000 current and former workers was revealed by the U.S. Government Accountability Office GAO and was reported by CG

A data breach that affected over 6,000 current and former workers was revealed by the U.S. Government Accountability Office GAO and was reported by CGI Federal, a division of CGI Inc. The hack last month revealed names, social security numbers, addresses, and some financial information of workers between 2007 and 2017. Although the hack used a weakness in an outside platform, particulars have not been made public. Renowned for its cybersecurity services, CGI government has contracts with many government agencies, including IT protection. The FBI and the cybersecurity organisation in charge of safeguarding government networks have yet to respond to requests for comment. Read More..

B2B Tech News | 4 days ago      

Generative AI and Deepfakes Fuel Surge in Romance Scams, Tenable Report Finds

Cybersecurity professionals advise with great caution as Valentines Day draws near romantic scams are common in India, where an astounding 66% of peop

Cybersecurity professionals advise with great caution as Valentines Day draws near romantic scams are common in India, where an astounding 66% of people fall prey to online dating fraud. In 2023, 43% fell for AI speech frauds, which cost 83% of their money. Tenables analysis reveals how con artists combine conventional methods with cuttingedge technology, such as deepfakes and generative AI. The majority, 69%, find distinguishing between natural and synthetic voices difficult. Celebrity impersonations are becoming more common, especially with older audiences. Unknowingly, social media sites like Facebook help to spread these frauds. Tenables Chris Boyd advises being cautious, particularly in private interactions when security is at risk. Older widows and other vulnerable people are often targeted. To counteract these ruthless manipulations, the study emphasises closely examining requests for funding and doublechecking media sources. Read More..

B2B Tech News | 4 days ago      

Unico Housing Finance Chooses Oracle Cloud Infrastructure for Innovative Housing Loan Technology

Oracle Cloud Infrastructure OCI and Unico Housing Finance in India have teamed to simplify home financing options for underprivileged populations. OCI

Oracle Cloud Infrastructure OCI and Unico Housing Finance in India have teamed to simplify home financing options for underprivileged populations. OCIs sturdiness, security, and scalability complement Unicos goal of expediting house loan approvals and filling the gap in the affordable housing market. Unico will use OCI services such as Oracle Base Database, Autonomous Data Warehouse, and Analytics Cloud to improve productivity and data security. OCIs CEO Babu Vellingiri emphasised the companys tenacity in fulfilling requests for home loans. Oracles package, which includes Fusion Cloud Financials and FLEXCUBE, helps Unico achieve its growth goals. Oracle Indias Shailender Kumar stressed the importance of OCI in facilitating safe and economical operations, which supports Unicos goal of fulfilling the dreams of underprivileged people to become homes. Read More..

B2B Tech News | 4 days ago      

Nvidia CEO Urges Countries to Develop Own AI Infrastructure for Economic Growth

CEO of Nvidia, Jensen Huang, stressed that each nation must build its Artificial Intelligence AI infrastructure to maximise economic potential and pre

CEO of Nvidia, Jensen Huang, stressed that each nation must build its Artificial Intelligence AI infrastructure to maximise economic potential and preserve cultural purity. While speaking at the World Government Summit in Dubai, Huang stated that relying on others for AI infrastructure is not feasible. As a leading manufacturer of highend AI processors, Nvidia wants to democratise access to AI by advancing practical computing. Citing the effective regulation of other revolutionary technologies, Huang advised nations to proactively construct AI infrastructure and reject irrational worries about AI challenges. Huang neglected to mention the limitations that the US placed on Nvidias ability to export AI chips. On February 21, Nvidia is scheduled to release its fourthquarter earnings. Read More..

B2B Tech News | 4 days ago      

Capgemini Forecasts Slower Revenue Growth for 2024 Amid Soft Market Conditions

According to French IT consultancy giant Capgemini, the first half of 2024 is expected to see weaker revenue growth. Despite these circumstances, CEO

According to French IT consultancy giant Capgemini, the first half of 2024 is expected to see weaker revenue growth. Despite these circumstances, CEO Aiman Ezzat voiced confidence in the companys potential to improve performance. Capgemini projects an operating profit margin of between 13.3% and 13.6% for the year, with flat to 3% sales growth in constant currency. The companys 2023 fullyear sales of €22.52 billion increased 4.4%, although it still fell short of its projected growth of 4%–7%. Revenue for the fourth quarter was €5.62 billion, a 0.2% decrease at constant exchange rates. Compared to the prior year, the companys employment shrank by 5% to 340,400 people. The board recommended a dividend of €3.40 per share for 2023. Read More..

B2B Tech News | 4 days ago