Business Standard - May 13, 2024![Add to My Favorites Add to Favorites](/static/icons/filled.svg)
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In this issue
May 13, 2024
Crypto Firms Bank On Fair Play As Binance Logs Into FIU-IND
The regulatory gap between crypto firms registered with the Financial Intelligence UnitIndia (FIU-India) and unregistered offshore entities is expected to narrow, industry players said, after global crypto players Binance and KuCoin received approvals to register with India's anti-money laundering unit.
![Crypto Firms Bank On Fair Play As Binance Logs Into FIU-IND](https://reseuro.magzter.com/100x125/articles/18959/1696861/4S4bzOe4ztIbGDJD4A5sys/crp_CRYPTO-FIRMS-BANK-ON-FAIR-PLAY-AS-BINANCE-LOGS-INTO-FIUIND.jpg)
2 mins
PUBLIC PROCUREMENT NORMS - Govt may hike local content requirement
The government is planning to tweak its procurement policy to give a fillip to domestic manufacturing.
![PUBLIC PROCUREMENT NORMS - Govt may hike local content requirement](https://reseuro.magzter.com/100x125/articles/18959/1696861/FHqRnTHmgBf0U9WmT9Rsys/PUBLIC-PROCUREMENT-NORMS-GOVT-MAY-HIKE-LOCAL-CONTENT-REQUIREMENT.jpg)
2 mins
Despite India's renewables push, it's fossil, fossil burning bright
Despite a four-time jump in the country's renewable-energy capacity since 2014, the mainstay of power supply in India continues to be coal-based thermal power.
3 mins
'Want proposed acquirers to be more responsible to Religare'
Value unlocking by Religare Enterprises, which is engaged in a takeover battle with the Burman family, is stalled due to the \"irresponsibility\" of the acquirer, said Rashmi Saluja, the company's chairperson.
!['Want proposed acquirers to be more responsible to Religare'](https://reseuro.magzter.com/100x125/articles/18959/1696861/j9oo5fFWsXh8NYIVvzqsys/WANT-PROPOSED-ACQUIRERS-TO-BE-MORE-RESPONSIBLE-TO-RELIGARE.jpg)
2 mins
'Seeing great interest in AI, GenAI from clients'
As the largest information and technology services provider, Accenture is at the forefront of helping customers navigate the challenges of cost pressures and finding new revenue streams. India is a key talent hub for Accenture comprising about 300,000 of its total headcount of 742,318. SANDEEP DUTTA, senior managing director and lead - India Business, Accenture, in an e-mail interview with Ayushman Baruah, talks about the challenges faced by clients and how technologies like generative artificial intelligence (GenAI) can help them stay ahead of the curve. Edited excerpts:
2 mins
A-I global cargo biz takes wing, not so for IndiGo
IndiGo's narrow-body aircraft do not offer adequate space for cargo
![A-I global cargo biz takes wing, not so for IndiGo](https://reseuro.magzter.com/100x125/articles/18959/1696861/FC5nLyAsakdJeMwiuf8sys/AI-GLOBAL-CARGO-BIZ-TAKES-WING-NOT-SO-FOR-INDIGO.jpg)
3 mins
Weizmann to move court against Western Union on trademark, logo issue
Mumbai-based Weizmann, part of a diversified group, will take to court its former partner Western Union Holdings, the American money-transfer giant, alleging that the USbased company has imitated its trademark and logo.
1 min
'Have restrained ourselves from taking the SFB route'
CreditAccess Grameen is the largest microfinance institution (MFI) in the country with a loan book of around ₹25,000 crore. UDAYA KUMAR HEBBAR, managing director (MD) and chief executive officer (CEO), in a telephonic interview, tells Manojit Saha that it is diversifying its loan portfolio by increasing the share of non-micro loans and the liability book by raising funds internationally. Edited excerpts:
3 mins
96 Lok Sabha, 203 Assembly seats go to polls today
Ninety-six Lok Sabha (LS) constituencies across 10 states and Union Territories will vote in the Phase-IV of the elections on Monday.
![96 Lok Sabha, 203 Assembly seats go to polls today](https://reseuro.magzter.com/100x125/articles/18959/1696861/Ug46IKCPSBBfpRbFH3ksys/96-LOK-SABHA-203-ASSEMBLY-SEATS-GO-TO-POLLS-TODAY.jpg)
2 mins
EAR TO THE GROUND - Fiery fight on cards in chilli capital
Locals call it a city with a fiery underbelly.
![EAR TO THE GROUND - Fiery fight on cards in chilli capital](https://reseuro.magzter.com/100x125/articles/18959/1696861/rse0jvzzDPrFSJW9waVsys/EAR-TO-THE-GROUND-FIERY-FIGHT-ON-CARDS-IN-CHILLI-CAPITAL.jpg)
3 mins
With 'Kejriwal's guarantees', AAP turns up the heat on BJP
Delhi Chief Minister Arvind Kejriwal spent his first 48 hours outside jail holding two political discourse-setting press conferences, the first of which, on Saturday, forced the top leadership of the ruling Bharatiya Janata Party (BJP) to clarify that Prime Minister Narendra Modi will not retire once he turns 75.
![With 'Kejriwal's guarantees', AAP turns up the heat on BJP](https://reseuro.magzter.com/100x125/articles/18959/1696861/x89G6lqgTnTFGOKTB3Dsys/WITH-KEJRIWALS-GUARANTEES-AAP-TURNS-UP-THE-HEAT-ON-BJP.jpg)
2 mins
Fight for the future: BJP, Cong pull out all stops for Pune seat
The contest for the Pune Lok Sabha seat, an urban constituency, is primarily between the Mahayuti candidate Murlidhar Mohol representing the Bharatiya Janata Party (BJP) and his Maha Vikas Aghadi rival Ravindra Dhangekar of the Congress.
1 min
Telangana parties' quest to find their political equilibrium
While Congress faces acid test, BJP feels pressure to prove potential, and BRS fights to stay relevant; industry pushes for MSME benefits and GST easing. SHINE JACOB decodes
![Telangana parties' quest to find their political equilibrium](https://reseuro.magzter.com/100x125/articles/18959/1696861/QYsNWdQckxZDGjTXyszsys/TELANGANA-PARTIES-QUEST-TO-FIND-THEIR-POLITICAL-EQUILIBRIUM.jpg)
3 mins
A thorn in Behenji's side: Nephew's removal signals BSP's identity crisis
WEIGHT OF LEADERSHIP? With Mayawati's throne in peril, a churn in Dalit politics in UP, and allegations the BSP had become 'BJP's B-team', could eventually turn the tide,
![A thorn in Behenji's side: Nephew's removal signals BSP's identity crisis](https://reseuro.magzter.com/100x125/articles/18959/1696861/whpiRwXpUWPlGVhJyqjsys/A-THORN-IN-BEHENJIS-SIDE-NEPHEWS-REMOVAL-SIGNALS-BSPS-IDENTITY-CRISIS.jpg)
4 mins
Traders should opt for AEO recognition
Last Wednesday, the World Customs Organisation (WCO) began a three-day global conference on Authorised Economic Operators (AEO) programme in Shanghai, China to deliberate on the theme 'Harnessing the Power of AEO Programmes for Inclusive and Sustainable Global Trade.
2 mins
SBI to hire over 15K in FY25 to boost ops, expand network
State Bank of India (SBI) is planning to recruit over 15,000 people in 2024-25, increasing the strength of those in the field for marketing.
![SBI to hire over 15K in FY25 to boost ops, expand network](https://reseuro.magzter.com/100x125/articles/18959/1696861/8GE8XsICdFnmrZ2Lp7Vsys/SBI-TO-HIRE-OVER-15K-IN-FY25-TO-BOOST-OPS-EXPAND-NETWORK.jpg)
1 min
India may export 18 mt of rice in 2024-25: USDA
India will remain a leading player in the world rice market despite restrictions, according to a recent projection by the United States Department of Agriculture (USDA).
1 min
'Over 300,000 Gazans fled Rafah'
The main United Nations agency aiding Palestinians in Gaza said early Sunday that about 300,000 people had fled over the past week from Rafah, the city in the enclave's southernmost tip where more than a million displaced Gazans had sought shelter from Israeli bombardments elsewhere over the past seven months.
!['Over 300,000 Gazans fled Rafah'](https://reseuro.magzter.com/100x125/articles/18959/1696861/HLpEujs3BmScJPI4fcmsys/OVER-300000-GAZANS-FLED-RAFAH.jpg)
2 mins
US aims to stay ahead of China in using AI to fly fighter jets
Two Air Force fighter jets recently squared off in a dogfight in California.
![US aims to stay ahead of China in using AI to fly fighter jets](https://reseuro.magzter.com/100x125/articles/18959/1696861/ND5ELZDUKlD4MXy4cTdsys/US-AIMS-TO-STAY-AHEAD-OF-CHINA-IN-USING-AI-TO-FLY-FIGHTER-JETS.jpg)
2 mins
SoftBank arm plans to launch Al chips next yr
SoftBank Group's Arm Holdings plans to develop artificial-intelligence (AI) chips, seeking to launch the first products in 2025, Nikkei Asia reported on Sunday.
1 min
Pfizer, AstraZeneca line up $1 billion investments in France
Leading healthcare companies Pfizer and AstraZeneca announced on Sunday new investments in France worth a total of nearly $1 billion, ahead of the start of this year's annual 'Choose France' business summit.
1 min
China credit shrinks for first time
Credit contracts as government bonds record net repayment
![China credit shrinks for first time](https://reseuro.magzter.com/100x125/articles/18959/1696861/v0Dp7gEqig8xRjMGLLdsys/CHINA-CREDIT-SHRINKS-FOR-FIRST-TIME.jpg)
2 mins
Can a 1970s idea save democracy today?
The American political theorist John Rawls may be known for abstractions like \"the original position\" and \"the difference principle,\" but any mention of his name puts me in mind of something decidedly more tangible: Cake.
3 mins
Lost a shock absorber
Exchange-rate flexibility is a shock absorber.
![Lost a shock absorber](https://reseuro.magzter.com/100x125/articles/18959/1696861/7k57HZEZSCvRVhw3YCzsys/LOST-A-SHOCK-ABSORBER.jpg)
4 mins
New economy, old habits
The world is fast-tracking the transition to a green economy.
3 mins
Migration matters
Mobility must remain a priority for economic diplomacy
2 mins
Stuck in neutral? TaMo's upsides may sputter on demand worries
STILL REVS UP FOR ROAD AHEAD: Automaker optimistic despite current roadblocks, banking on economic growth and government support to accelerate progress
![Stuck in neutral? TaMo's upsides may sputter on demand worries](https://reseuro.magzter.com/100x125/articles/18959/1696861/YqSgejC3oaMiCQZ85T7sys/STUCK-IN-NEUTRAL-TAMOS-UPSIDES-MAY-SPUTTER-ON-DEMAND-WORRIES.jpg)
2 mins
Futile to link market movements with poll-related jitters'
The ongoing Lok Sabha (LS) elections in 2024, coupled with the declining voter turnout, have left investors speculating about the election results. NILESH SHAH, managing director at Kotak Mahindra Asset Management Company, shares his insights on these developments, explores whether the initial low voter turnout is causing concern in the markets, and delves into investment strategies against this backdrop during a Zoom call with Puneet Wadhwa. Edited excerpts:
![Futile to link market movements with poll-related jitters'](https://reseuro.magzter.com/100x125/articles/18959/1696861/uAMYy83lBf67N1wnMXZsys/FUTILE-TO-LINK-MARKET-MOVEMENTS-WITH-POLLRELATED-JITTERS.jpg)
2 mins
Diversify your bond portfolio across credit ratings, issuers
Examine financials and repayment track record of each promoter
![Diversify your bond portfolio across credit ratings, issuers](https://reseuro.magzter.com/100x125/articles/18959/1696861/2Rg8x8Kuldkrf8sCcQCsys/DIVERSIFY-YOUR-BOND-PORTFOLIO-ACROSS-CREDIT-RATINGS-ISSUERS.jpg)
4 mins
Bank accountable for clearing forged cheque
Sameer Jain, proprietor of Net Solutions, held a Business Gold Account with IDBI Bank, Chandigarh Branch.
2 mins
Eyes On Earth: Data Helps Farming And Industry
Tremendous strides are being made in Earth observation (EO) and agriculture technology (agritech) as the world braces for the impact of climate change.
![Eyes On Earth: Data Helps Farming And Industry](https://reseuro.magzter.com/100x125/articles/18959/1696861/1EInHx98cvYMFBUJzMksys/crp_EYES-ON-EARTH-DATA-HELPS-FARMING-AND-INDUSTRY.jpg)
2 mins
Over 250,000 Infosys employees are trained in GenAI
MOHAMMED RAFEE TARAFDAR, chief technology officer (CTO) of Infosys, is driving the information technology (IT) services firm's artificial intelligence (AI) strategy.
![Over 250,000 Infosys employees are trained in GenAI](https://reseuro.magzter.com/100x125/articles/18959/1696861/T8OSm5uHbrsAoH67DmYsys/OVER-250000-INFOSYS-EMPLOYEES-ARE-TRAINED-IN-GENAI.jpg)
3 mins
Chip service that suits all needs
GPUaaS makes an expensive piece of computing technology available to the wider world, reports ASHUTOSH MISHRA
![Chip service that suits all needs](https://reseuro.magzter.com/100x125/articles/18959/1696861/cxb4iShglltdNmbbF2Dsys/CHIP-SERVICE-THAT-SUITS-ALL-NEEDS.jpg)
4 mins
What ails public sector banks?
Two books written by public sector bankers flag symptoms that range from seemingly small episodes to serious, reputation- ruining actions
5 mins
APEX CAPEX
How is govt capital expenditure driving India's growth? Will RBI's suggested provisioning affect it?
4 mins
India yet to pull the plug on its Covid vaccination drive
Experts feel paid vaccine shots should continue to be available for elderly and comorbid
![India yet to pull the plug on its Covid vaccination drive](https://reseuro.magzter.com/100x125/articles/18959/1696861/QhdHeBBKcRQeJ6yahBrsys/INDIA-YET-TO-PULL-THE-PLUG-ON-ITS-COVID-VACCINATION-DRIVE.jpg)
3 mins
Business Standard Newspaper Description:
Publisher: Business Standard Private Ltd
Category: Newspaper
Language: English
Frequency: Daily
Business Standard is India's leading business daily.
A preferred choice of serious business readers, Business Standard is acknowledged as a quality leader.
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Business Standard's editorial team is led by Shyamal Majumdar.
The English newspaper is published from 12 centers - New Delhi, Mumbai, Kolkata, Bengaluru, Chennai, Ahmedabad, Hyderabad, Chandigarh, Lucknow, Pune, Kochi and Bhubaneswar. It is also printed from Bhopal.
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