RBI's proposal to remove foreclosure charges on loans up to Rs 7.5 crore could significantly impact PNB Housing Finance and Aditya Birla Capital, with 27% and 26% of their assets in floating-rate loans, respectively. Banks like Axis, IndusInd, and Kotak Mahindra may also face higher impacts. This move is expected to increase competition and reduce profitability in retail loans, benefiting better-rated NBFCs.
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The OKC Thunder will face the Dallas Mavericks at the Paycom Center on January 23, 2025. The Thunder seek revenge after a recent loss to the Mavericks. Key players include Shai Gilgeous-Alexander for OKC and Kyrie Irving for Dallas. The Thunder are currently top of the standings, and the Mavericks are dealing with several injuries.
Universal Pension Scheme: India is working on a voluntary pension scheme to provide social security to all citizens, especially workers in the unorganised sector, traders, and self-employed individuals. The initiative under the EPFO aims to consolidate existing pension programs, ensuring broader coverage and simplified procedures.
Zoho CEO Sridhar Vembu paid tribute to Jeyesh Ram, a 27-year-old entrepreneur from Tamil Nadu, who died in a paragliding accident in Kullu, Himachal Pradesh. Vembu emphasized the need for stricter safety regulations in adventure sports. He also mentioned his investment in Jeyesh's venture, Tools Hub, and urged regulators to enhance oversight to prevent such tragedies.
India opted to bowl first against Australia in the crucial third Test at the Gabba, Brisbane, after Rohit Sharma won the toss. The overcast conditions and a grassy pitch influenced the decision. India brought in Ravindra Jadeja and Akash Deep, replacing Ravichandran Ashwin and Harshit Rana. Australia welcomed back Josh Hazlewood for Scott Boland.
NR Narayana Murthy, co-founder of Infosys, emphasized at TiECon Mumbai that many so-called AI systems in India are merely traditional programming. He stressed the importance of genuine AI, which relies on machine learning and deep learning. Murthy acknowledged AI's potential for job displacement but highlighted its economic benefits.
Union finance minister Nirmala Sitharaman announced the launch of the Prime Minister Krishi Yojana, targeting 1.75 crore farmers and enhancing agricultural development in 100 low-output districts. The program aims to boost productivity through crop diversification and increased post-harvest storage facilities, along with addressing credit parameters collaboratively with states.
Young opener Abhimanyu Easwaran’s patience continues as his impressive domestic performances, including consistent centuries, have yet to earn him a spot in India’s playing XI. Despite repeated inclusions in the Test squad, his chances have been thwarted by sub-par performances in crucial moments, highlighting the competitive nature of Indian cricket selection.
The PDP and NC are engaged in a heated dispute over the abrogation of Article 370, sparked by claims in a new book. PDP defends its alliance with BJP as principled and aimed at protecting Article 370, while accusing NC of secret deals with the BJP. Mehbooba Mufti alleges Omar Abdullah proposed an NC-BJP alliance after the 2014 elections.
Salesforce plans to cut over 1,000 jobs amid restructuring, while hiring new employees for its AI-driven product expansion. Displaced workers can apply for other roles within the company. This follows previous layoffs in January and July 2024. Salesforce, which has 72,682 employees, will report quarterly earnings on February 26, 2025.
Sergey Brin, Google's co-founder, has urged employees to adopt 60-hour workweeks and daily office presence to accelerate the development of artificial general intelligence (AGI). Emphasizing the intensified competition following the launch of ChatGPT, Brin believes that increasing productivity and leveraging Google's AI for coding could help the company achieve a significant milestone where machines surpass human intelligence.