When iOS users are sharing a post through the X app on their iPhone or iPad, x.com is appearing in the URL. Earlier, twitter.com appeared in the URL. As per The Verge report, the change will soon be visible across all platforms (Android and web).

Elon Musk Changed The Name And Logo On July 24

Company owner Elon Musk changed the name and logo of the social media platform ‘Twitter’ to X on 24 July. After this, on July 26, a small change was made in the design of the logo. Musk made the X logo bold and sharp.

Musk had said the logo will evolve over time. “Twitter will provide all kinds of financial services in the coming months. In such a situation, the name Twitter has no meaning.”

Elon Musk Wants To Make X An ‘Everything App’

Elon Musk wants to make X an “everything app” to which he is going to add other features including payment service. Soon the feature of video and audio calling is going to be added to it. Through this, users will be able to talk to people anywhere in the world without exchanging their numbers.

Elon Musk’s Fascination With Letter X Since 1999

Elon Musk’s association with X letter dates to 1999. Then he created X.com, an online banking company. It later merged with another company to become PayPal. In 2017, Musk repurchased the URL “X.com” from PayPal.

He has said that the domain has “great sentimental value” to him. X is also visible in his other company SpaceX.

Major Changes Made By Elon Musk After Taking Over Twitter

Elon Musk bought Twitter, now X, on 27 October 2022 for $ 44 billion. After this, Musk made many big changes to the microblogging website.

Laid Off More Than Half The Employees

After buying X, Musk first fired four top officials of the company. These included CEO Parag Agarwal, finance chief Ned Segal, legal executives Vijaya Gadde and Sean Edgett. When Musk took charge of X, it had around 7500 employees, but now only around 2500 are left.

Unblocked Multiple Blocked Accounts

In November 2022, Musk unblocked several blocked accounts including former US President Donald Trump. He conducted a poll on X about Trump’s return where he asked whether President Trump’s account should be restored, yes or no! More than 15 million users took part in the voting and 52% answered yes.

Blue Subscription Service Launched

Elon Musk has launched Blue Subscription worldwide. The Blue subscription cost for web users in India is Rs 650. The subscription charge for mobile is Rs 900 per month. Many features are available in it including blue tick and long video post.

Character Limit Increased

Musk has increased the character limit of posts from 280 to 25,000. Post reading limit has also been applied. Verified users can read only 10,000 posts in a day. Unverified users can read one thousand posts, while new unverified users can read only 500 posts daily.

In July 2023, Elon Musk announced that the iconic blue bird logo will be replaced by an “X” logo.

Elon Musk’s Vision

Under Musk’s tumultuous tenure since he bought Twitter, the company has changed its business name to X Corp, reflecting the billionaire’s vision to create a “super app” like China’s WeChat. In April, Twitter’s legacy blue bird logo was temporarily replaced by Dogecoin’s Shiba Inu dog, helping drive a surge in the cryptocurrency’s market value.

Elon Musk on July 12 launched a new artificial intelligence (AI) company called xAI that aims to “understand the true nature of the universe”. The team is headed up by Musk and includes team members that have worked at other big names in AI, including OpenAI, Google Research, Microsoft Research, and Google’s DeepMind.

It further states that OpenAI is rapidly reducing its financial resources and even after launching paid services for GPT-3.5 and GPT-4, the company is unable to generate enough revenue to cover its costs.

Microsoft Investment

According to the report, the company is probably surviving only because of Microsoft’s investment of $10 billion, i.e., about Rs 83,000 crore in OpenAI. OpenAI has estimated an annual revenue of $ 200 million in 2023, or about Rs 1660 crore. In 2024, the revenue is expected to reach $ 1 billion, i.e., around Rs 8200 crores.

However, it doesn’t seem possible to reach this revenue in the current situation of the company.

OpenAI Losses Go Up

OpenAI launched ChatGPT in November 2022. Since then till May 2023, the company has incurred a loss of $540 million, i.e., around Rs 4479 crore. At the same time, a decline is also being seen in the number of users of ChatGPT. ChatGPT users have seen a 12% decline in July 2023 as compared to June. There were 1.7 billion users in July which has come down to 1.5 billion.

What Kind Of Questions Can ChatGPT Answer

You can ask any question from it. That is, from writing an email to a CV, you can get it made. ChatGPT also gives the answer to Reel or how to make your video viral. ChatGPT also gives you suggestions on daily chores.

ChatGpt Has Limitations

• Lack of common sense in answering the questions.
• Reference is not given while answering the question.
• Not able to analyze emotional situations.
• It cannot understand the context of a given situation.

About ChatGPT

ChatGPT is a large language model-based chatbot developed by OpenAI. It was launched on November 30, 2022. It is notable for enabling users to refine and steer a conversation towards a desired length, format, style, level of detail, and language used. Successive prompts and replies, known as prompt engineering, are taken into account at each stage of the conversation as a context.

ChatGPT is built upon GPT-3.5 and GPT-4—members of OpenAI’s proprietary generative pre-trained transformer series of transformer models—which are then fine-tuned for conversational applications using a combination of supervised and reinforcement learning techniques.

ChatGPT was released as a freely available research preview, but due to its popularity, OpenAI now operates the service on a freemium model. It allows users on its free tier to access the GPT-3.5 based version, while the more advanced GPT-4 based version, as well as priority access to newer features, are provided to paid subscribers under the commercial name “ChatGPT Plus”.

About OpenAI

Founded in 2015, OpenAI is an American artificial intelligence (AI) research laboratory consisting of the non-profit OpenAI, Inc. and its for-profit subsidiary corporation OpenAI, L.P. OpenAI conducts research on artificial intelligence with the declared intention of developing “safe and beneficial” artificial general intelligence, which it defines as “highly autonomous systems that outperform humans at most economically valuable work”.

A Step Towards Modernizing Regulatory Framework

The RBI’s decision to use AI and ML is a significant step towards modernizing its regulatory framework. AI and ML can help the RBI to improve its ability to detect and prevent financial fraud and other regulatory violations. They can also help the RBI to better understand the financial system and to develop new regulatory tools and frameworks.

In September last year, the RBI invited expressions of interest (EoI) for engaging consultants for the use of advanced analytics, artificial intelligence and machine learning for generating supervisory inputs. Based on the scrutiny/evaluation set out in the EOI document, the central bank had shortlisted seven applicants to participate in the request for proposal process (RFP) for the selection of consultant(s).

Firms That Were In Contention

The seven firms were Accenture Solutions Private Limited; Boston Consulting Group (India) Pvt Ltd; Deloitte Touche Tohmatsu India LLP; Ernst and Young LLP; KPMG Assurance and Consulting Services LLP; McKinsey and Company; and Pricewaterhouse Coopers Pvt Ltd.

Of these, McKinsey and Company India LLP and Accenture Solutions Private Limited India have been awarded the contract, as per a Reserve Bank document. The value of the contract is about Rs 91 crore.

RBI is Already Using AI and ML

While the RBI is already using AI and ML in supervisory processes, it now intends to upscale it to ensure that the benefits of advanced analytics can accrue to the Department of Supervision in the central bank.

The Department of Supervision has been developing and using linear and a few machine-learnt models for supervisory examinations. The interest now is to explore the data to identify its attributes that can be leveraged to generate new and improved supervisory inputs, said the EoI issued in September.

The supervisory jurisdiction of the RBI extends over banks, urban cooperative banks, NBFCs, payment banks, small finance banks, local area banks, credit information companies and select all Indian financial institutions.

It undertakes supervision of these entities with the objective of assessing their financial soundness, solvency, asset quality, governance framework, liquidity, and operational viability to protect depositors’ interests and financial stability.

RBI Undertakes Continuous Supervision of SEs

The RBI undertakes continuous supervision of SEs with the help of on-site inspections and off-site monitoring, the EoI said. Across the world, regulatory and supervisory authorities are using machine learning techniques (commonly referred to as ‘suptech’ and ‘regtech’) for assisting supervisory and regulatory activities, it added.

Most of these techniques are still exploratory, however, they are rapidly gaining popularity and scale. On the data collection side, AI and ML technologies are used for real-time data reporting, effective data management and dissemination.

For data analytics, these are being used for monitoring supervised firm-specific risks, including liquidity risks, market risks, credit exposures and concentration risks; misconduct analysis; and mis-selling of products.

(With ANI inputs)

Smartphones Available At Discount

During the sale, you can get up to Rs 7,000 off on select Vivo smartphones. Here are some of the smartphones on which the best deals are available:

• V21e 5G: Available from Rs 24,990 onwards
• Y12G: Available from Rs 10,990 onwards
• Y53s: Available from Rs 19,490 onwards
• Y20A (2021): Available from Rs 11,990 onwards
• Y72 5G: Available from Rs 20,990 onwards
• X60 Pro: Available from Rs 49,990 onwards
• X60: Available from Rs 37,990 onwards
• V20 SE: Available from Rs 19,990
• V20: Available from Rs 21,990
• X50: Available from Rs 36,990
• V21 5G: Available from Rs 29,990 onwards
• V19: Available from Rs 23,990
• Y51A: Available from Rs 17,990
• Y12s: Available from Rs 10,990
• Y31: Available from Rs 16,490
• Y20G– Available from Rs 13,990

Vivos’ Market Leadership

Vivo is now the leading smartphone brand in India, according to a recent report by IDC. Vivo captured a 16% market share in the second quarter of 2023, up from 7.4% in the previous year. This is a significant increase and has helped Vivo displace Samsung as the market leader. Samsung is now in second place with a 15.7% market share, while Realme is in third place with 12.6% and has experienced a significant downgrade in market share of 29.8% compared to the previous year, as per a report in Kalingatv.

Vivos’ Reason for Success

The IDC report attributes Vivo’s success to the launch of its V-series models. These models have been popular with consumers due to their stylish design and good camera performance. Here are the models which come under Vivo’s V Series:

• vivo V11 Pro
• vivo V11
• vivo V7 Plus
• vivo V5 Plus
• vivo V7
• vivo V20 2021
• vivo V9 Youth
• vivo V5s
• vivo V3
• vivo V3 Max

So mark your calendars and get ready for a shopping spree that you won’t soon forget!

Vijay Sales’ Freedom Sale: Major Highlights

One of the highlights of the sale is the price cut on the iPhone 14 and other Apple products. The iPhone 14, 128GB, which usually costs Rs 79,900, is now available at a starting price of Rs 69,900. In addition, customers can get a flat cashback of Rs 4000 with HDFC Bank cards. If customers choose to exchange their existing smartphones at Vijay Sales stores with an exchange value of Rs 15,000 or above, they will receive an additional Rs 8,000 discount. This results in a total discount of up to Rs 37,000, making the final price of the iPhone 14, 128GB, Rs 42,900, as per a report in the Mint.

Nothing Phone (2) Available

As part of its distinctive smartphone deals, Vijay Sales has now announced that the Nothing Phone (2) is now accessible at all of its physical retail locations across the country.

Huge Deals on Home Appliances

You can avail discounts on a wide range of washing machines, starting at Rs 8,990. Vacuum cleaners may be purchased for Rs 1,899 with discounts of up to 60%. Dishwashers starting at Rs 20,990 are also available at a discount of up to 60%. While water geysers start at Rs 499, irons and garment steamers can be purchased for Rs 3,399 each.

Deals on Smart TVs

Vijay Sales is offering great deals on smart TVs, starting at just Rs 16,990. You can also get soundbars and home theaters starting at Rs 1,699 and party speakers starting at Rs 7,399.

Contest In Collaboration With Paytm

In addition to the discounts, Vijay Sales is also running a contest in association with Paytm. Vijay Sales is giving away Apple Watches and movie tickets to shoppers who participate in its Mega Freedom Sale. To enter, simply shop for electronics on EMI via Paytm at a Vijay Sales store.

Thirty lucky winners will be randomly selected to receive an Apple Watch, and all shoppers will receive a guaranteed movie ticket voucher. The sale is running from August 10th to August 16th, so don’t miss your chance to win big, the report said.

The MCLR is the minimum lending rate that banks can charge on loans. By raising the MCLR, banks are passing on the higher cost of funds to borrowers. This will lead to higher interest rates on loans, such as home loans and car loans.

MCLR Rate Hike: Details

As per the RBI’s latest move, banks will now have to hold 10% of their incremental deposits as cash reserve ratio (CRR) from August 12, 2023. This has led to an increase in the marginal cost of funds-based lending rate (MCLR) for Bank of Baroda and Canara Bank by 5 basis points.

The new one-year MCLR for both banks will be 8.70%, effective August 12. This is likely to increase the monthly repayments for borrowers who have taken out loans with MCLR-linked interest rates.

The Bank of Maharashtra has also raised its marginal cost of funds-based lending rate (MCLR) by 10 basis points. This means that the one-year MCLR, which is the benchmark rate for most loans, has increased from 8.50% to 8.60%. The revised rate is effective August 10, 2023, as per a report in the Business Standards.

Impact of MCLR Rate Hike: EMI’s To Go Up

Borrowers who have taken out loans with MCLR-linked interest rates are likely to feel the effects of the hike in MCLR rates quite strongly. These debtors will have higher monthly payments, which can strain their budget. The economy is also expected to be impacted by the rise in MCLR rates because it will become more expensive for firms to borrow money.

What’s MCLR, and How Does It Impact Loan Interests?

MCLR, or marginal cost of funds-based lending rate, is the minimum lending rate that banks can charge on loans. It is a benchmark interest rate that was introduced by the Reserve Bank of India (RBI) in 2016 to replace the base rate system. The MCLR is calculated based on the marginal cost of funds, which is the cost that banks incur to raise money from various sources. The MCLR is also influenced by other factors, such as the repo rate, the risk premium, and the tenor premium.

The MCLR is important because it helps to ensure that banks pass on the benefits of monetary policy to borrowers. When the RBI cuts the repo rate, banks are expected to lower their MCLR rates, which will lead to lower interest rates on loans. This helps to stimulate economic growth by making it cheaper for businesses to borrow money and invest, as per Forbes.

With 27 paise cut, the revised petrol price in Noida stood at Rs 96.65 per litre while diesel was priced at Rs 89.82 per litre on Sunday. In Gurugram, one litre of petrol now costs Rs 96.84 while the diesel prices stood at Rs 89.72.

Petrol Prices In Noida, Gurugram

• Noida – Rs 96.65 per litre
• Gurugram – Rs 96.84 per litre

Diesel Prices In Noida, Gurugram

• Noida – Rs 89.82 per litre
• Gurugram – Rs 89.72 per litre

Besides Noida and Gurugram, the petrol and diesel prices in Gujarat’s Ahmedabad, , Bihar’s Patna, Rajasthan’s Ajmer and Jaipur also got cheaper.

How To Check Petrol, Diesel Price In Your City

To get the indicative prices of Petrol/Diesel in your city/town for the day, SMS ‘RSP <space> Dealer Code of Petrol Pump’ to 9224992249. For example, SMS ‘RSP 102072’ to 92249 92249 for petrol and diesel prices in Delhi. Click HERE to find your city’s RSP code.

What Leads To Change In Petrol And Diesel Prices

Diesel accounts for about two-fifth of India’s overall refined fuel consumption. Diesel margins have declined substantially since rising to a record of over $71 a barrel in June after Russia invaded Ukraine, making a case for a cut in local prices. Price of fuel includes excise duty, value-added tax (VAT), and dealer commission. VAT varies from state to state. After adding excise duty, dealer commission and VAT, the retail selling price of petrol gets nearly doubled. Various factors impact the price of fuel. These include rupee to US dollar exchange rate, cost of crude oil, global cues, demand for fuel, and so on. When international crude oil prices gain, prices in India move higher.

During the sale period, shoppers can expect to enjoy remarkable discounts ranging from 50% to a whopping 80% off on an extensive range of products including Fashion, Home & Living, Beauty, Health, Footwear, Electronics Accessories, and Automotive items.

Announcing the sale, a Snapdeal spokesperson said, “We are thrilled to announce the Snapdeal Freedom Special Toofani Sale. With irresistible discounts spanning across a diverse array of categories, this sale celebrates the spirit of freedom and the power to shop for best-selling products without hesitation.”

Key Highlights Of The Freedom Special Toofani Sale:

76 Bestselling Deals Every 4 Hours: Snapdeal is elevating the shopping experience by offering 76 highly sought-after deals refreshed every 4 hours, ensuring that customers have ample opportunities to grab their favourite products at unbeatable prices.

Fashion Extravaganza: Fashion enthusiasts will rejoice as the sale offers discounts of 50% to 80% off on a wide range of apparel including Kurtas & Sets, Sarees, Tops & Dresses, T-shirts, Shirts, Kids Clothing, Innerwear, and more.

Home & Living Bonanza: Snapdeal’s sale extends incredible discounts of up to 90% on Kitchen Storage, Headphones & Earphones, Stationery Supplies, Wall Decor, Plants & Gardening, Tools & Hardware, Lamps & Lighting, Car & Bike Care, Home Utility, and Kitchen Tools & Bedsheets.

Premium Brands at Unbeatable Prices: Top brands such as Hometales, Rangita, UrbanMark, Milton, MiniKlub, and more will be available with discounts of up to 90%, allowing shoppers to indulge in their favourite brands without breaking the bank.

Monsoon Must-Haves: Prepare for the rainy season with up to 85% off on essential items including Rain Essentials, Emergency Lights, Door Mats & Racks, Vehicle Covers, Cotton Bedsheets, Waterproof Footwear, and Waterproof Watches.

Unmatched Deals: Snapdeal’s sale introduces deals with minimum 80% off on an array of products, including Activewear, Kurtis, Boys Clothing, Women Dresses, Men’s Jeans, Casual Shoes, Sports Shoes, Kitchen Storage, and Trimmers.

With its commitment to providing customers with unbeatable value, Snapdeal’s Freedom Special Toofani Sale is an event that should not be missed. Mark your calendars for the sale dates from the 11th to the 14th of August 2023 and indulge in a shopping spree like never before.

For more information, visit Snapdeal’s website or follow Snapdeal on social media platforms.

Benefits At An Annual Premium Of Annual Premium of Rs 1,500 Only

Speaking on this occasion, the Chief Minister said for making Ayushman cards the portal would be opened for one month. With this announcement, 8 lakh new families are expected to be included in the scheme. The beneficiary family will have to pay an annual premium of Rs 1,500 only.

The Chief Minister said the number of families getting free treatment facility up to Rs 5 lakh under the Ayushman Bharat Chirayu Haryana Yojana will be nearly 38 lakh, adding the government has so far spent Rs 500 crore under the Ayushman Bharat Yojana.

On the directions of the Chief Minister, a special counter is set up during the programme where officials after verifying the data of the Parviar Pehchan Patra made certificate on the spot for the inclusion of name in the Old Age Samman Allowance Scheme. Subsequently, the Chief Minister himself handed over the certificates to beneficiaries.

Ayushman Bharat is a government-led initiative to provide universal health coverage to all Indians. It was launched in 2018 and is designed to meet the Sustainable Development Goals (SDGs) of leaving no one behind.

Ayushman Bharat Scheme: All You Need To Know

Ayushman Bharat is a comprehensive health care scheme that covers prevention, promotion, and ambulatory care at the primary, secondary, and tertiary levels. It is a move away from the previous fragmented approach to health care delivery in India.

The scheme has two main components: Pradhan Mantri Jan Arogya Yojana (PM-JAY) and Ayushman Bharat Health and Wellness Centers (AB-HWCs). PM-JAY is a health insurance scheme that provides cover of up to 5 lakh rupees per family per year for secondary and tertiary care hospitalization. AB-HWCs are primary care centers that provide a range of preventive and diagnostic services.

(With IANS inputs)

Reasons of Price Hike

The TNCMPFL has cited rising input costs, such as the cost of feed and fodder, as the reason for the price hike. The company has also said that it is facing competition from private milk producers, who are offering lower prices.

“The Tamil Nadu Cooperative Milk Producer’s Federation Limited is selling various types of sachet milk at Chennai metro and suburbs. Price revision is being done to meet out the handling processing charges, transportation and logistics cost. At present, the State-run Aavin is selling 500 ml standardised milk sachet at Rs 22, 5 litre SM pack of Rs 210. To match with the 500 ml SM sachet, the Federation may revise the price of 5 litre pouch to Rs 220,”TNCMPFL marketing division said in a circular, as per DT Next.

When Does The Price Revision Comes Into Force

“The price revision comes into force with effect from August 12 onwards. Hence the Regional Managers, AGMs and DMs in zonal officers are instructed to implement the price revision of SM 5 litre packet, ” TNCMPFL added on the implementation of the new prices.

On May 16, 2021, the last price adjustment for different milk sachet and pack kinds went into effect. After that, the price of SM 500 ml was lowered by Rs 3, or from Rs 47 to Rs 44 per litre, and the price of SM 5 litre box was lowered from Rs 225 to Rs 210. Additionally, the price of FCM was raised for 500 ml except for card rate. On November 5, 2022, the cost of Team Mate was raised by Rs 6 for 500 ml and by Rs 4 for 1,000 ml.

About Tamil Nadu Cooperative Milk Producers Federation Limited

Aavin, the Tamil Nadu Cooperative Milk Producers Federation Limited, is a state-owned enterprise that procures, processes, and markets milk and milk products in Tamil Nadu. It offers a wide range of products, including pasteurized toned milk, skimmed milk powder, cheese, flavored milk, ice cream, and more. Aavin also provides information on its depots, dairies, and wholesale dealers across the state.

V Lee, Foxconn’s India representative, said in a social media post that the company is “moving so fast” in Telangana. He added that another $400 million investment is coming. The investment from Foxconn is a major boost for Telangana’s electronics manufacturing sector. The state has been trying to attract investment from global electronics companies in recent years. The new investment from Foxconn is expected to create thousands of jobs in Telangana.

Proposal From FIT Singapore

FIT Singapore’s proposal to make a capital injection of US$ 400,000,000 to Chang Yi Interconnect Technology (India) Private Limited, which is held by FIT Singapore as to 99.99 per cent of the capital stock,” FIT Hon Teng informed the Hong Kong Stock Exchange on Friday.

Posting the company’s disclosure on his social media handle, V Lee said “Moving so fast, Telangana! Another US$400M is coming.” Reacting to V Lee’s post, Telangana Minister for IT and Industries KT Rama Rao tweeted on Saturday saying the fresh investment proposal is in addition to the already committed USD 150 million earlier.

“Our friendship with Foxconn Group remains steadfast, each of us delivering on mutual commitments. With total infusement of $550m (adding previous $150m), FIT is poised to deliver on its promises in Telangana. This once again proves Telangana Speed,” Rama Rao tweeted on X.

Proposed Electronics Manufacturing Facility At Kongara Kalan

Electronics major Foxconn Interconnect Technology in May laid the foundation for a new electronics manufacturing facility in Telangana as part of its investment in the state. The proposed electronics manufacturing facility at Kongara Kalan near here is a milestone for the Taiwanese firm’s global expansion strategy diversifying its global manufacturing base, a press release had earlier said.

The proposed facility will serve as a hub for Foxconn Interconnect Technology’s operations in Telangana allowing the firm to expand its production capacity, it said. Earlier this year, Foxconn Technology Group chairman Young Liu along with his senior officials met Telangana Chief Minister K Chandrasekhar Rao here.

(With PTI Inputs)

Central Government Decides To Release Onion Buffer

In order to keep prices in check until the arrival of the new crop in October and increased supply, the government said on Friday that it will release onions from its buffer stock of 300,000 tonnes. Prices for onions have risen sharply recently. In Maharashtra’s Lasalgaon mandi, wholesale prices have increased to $1,700 a quintal from $1,370 a week ago. According to data from the price monitoring office of the consumer affairs ministry, retail prices are averaging around 30 per kg. Fears of a future shortage have caused prices to rise, as per the Mint.

Since the beginning of 2023, onion prices have ranged between Rs 900 and Rs 1,000 per quintal, which worried farmers. Nearly 3 lakh tonnes of the bulb were purchased by the Cooperative Consumers Federation (NCCF) and the National Agricultural Cooperative Marketing Federation (NAFED) to help farmers, a report in the Indian Express said.

What Do The Experts Say?

Although India has a large supply of onions, according to experts, the high proportion of poor-quality onions caused by this year’s extreme summer heat has caused the price of good-quality onions to rise, according to a report in The Economic Times (ET).

The onion in question is the rabi crop, which is planted in December-January and harvested after March-April. This crop has low moisture content and can be stored for a longer period of time. Farmers sell their stock in batches until the new crop arrives in September-October.

What Do The Farm Unions Say?

Bharat Dighole, president of the Onion Growers Association, said that the current prices do not cover the cost of production, as farmers have sustained heavy storage losses. He expects prices to rise for some more time. Traders say that prices could reach Rs 2,000-2,200/quintal if the quantity of arrivals remains the same, the report in Business Standards said.

The two bills (Central Goods and Services Tax (Amendment) Bill, 2023 and the Integrated Goods and Services Tax (Amendment) Bill) were cleared by the Union cabinet earlier this week, and their passage by Parliament will now allow implementation of the 28 per cent GST levy on online gaming, horse racing and gambling in casinos from October 1 onwards.

CGST amendment bill

The CGST amendment bill defines ‘online gaming’ as a game on the internet or an electronic network. ‘Online money gaming’ means online gaming in which players pay or deposit money, including virtual digital assets (VDAs), in the expectation of winning money or VDAs, in any event including game, scheme, competition or any other activity, whether or not its outcome or performance is based on skill, chance or both.

GST Rates on Online Gaming and Casinos 

Presently, the GST regime differentiates online games based on skills versus chance. With the recommendation made at the 50th GST Council meeting, 28% GST will be charged on full face value. The following GST rates are applicable to online gaming and casino earnings:

• For a game of skills, such as esports, puzzles, and some card games, an 18% GST is chargeable under HSN 998439 only on the platform’s commission/service fee or on gross gaming revenue (total stake value – distributed winnings).
• For a game of chance, including gambling at casinos, a 28% GST is chargeable under HSN 999692 on the total bet value.
• With regard to horse race clubs, some are paying 18 per cent GST on platform fees, while few are paying 28 per cent on the full face value. These industries are disputing the 28 per cent levy on actionable claims in the form of betting and gambling at various legal fora. Casinos too are currently paying 28 per cent GST on Gross Gaming Revenue (GGR).

For example, if a bet is placed for say Rs 1,000, and the player wins Rs 300, and if the player redeploys the winning amount or Rs 300 into the game then GST will not be levied on the winning amount.

After August, 28% GST on full face value will be charged on online gaming, casinos and horse racing.

Once the Centre amends the CGST, IGST and UT GST laws, then the states and two Union territories with Assemblies will be required to bring similar changes in SGST Acts. After the legislative changes, detailed rule will be announced.  The target is to complete all these steps by the next month-end to ensure implementation from October 1, 2023.

Will GST be charged on all casino bettings?

The GoM has proposed to charge GST only on the initial money spent on entering the casinos and not on future bettings made through winnings from previous rounds.

According to reports, casual online gaming, which does not involve money or any consideration, will not be taxable under GST.

Online gaming industry

The online gaming industry grew by 28 per cent in 2021 to reach USD 1.9 billion, as per NITI Aayog estimates.

Over the past week since GST Council’s recommendations were announced, online gaming industry has expressed serious concerns on implications of the decision on the sector. They said that the move will have negative ramifications for the sector. On Wednesday, Mobile Premier League (MPL) laid off about half of its India team or close to 350 people to cut down cost burden due to the increase in GST rate to 28 per cent.

On Thursday, Kavin Bharti Mittal-founded Hike, which owns Rush Gaming Universe, laid off about 55 people — more than one-fifth of its total workforce — to absorb the impact of the GST hike on online gaming.

(With inputs from agencies)

Employers who are eligible for the Regional Express Entry Pilot (REP) will be designated on Job Bank, a government website, to show their status to potential workers.

The Job Bank allows you to search for jobs from Canadian employers who are looking to hire temporary foreign workers. These employers have already received or applied for a labor Market Impact Assessment (LMIA), which is a document that shows there is a need for foreign workers to fill the job. The Job Bank currently has over 10,000 jobs listed for foreigners who want to work in Canada.

What Is The New Recognized Employer Pilot Program?

The Recognized Employer Pilot (REP) is a new program that will make it easier for employers who have a history of complying with the Temporary Foreign Worker Program (TFWP) to hire temporary foreign workers.

Employers who participate in the REP will be able to obtain a Labor Market Impact Assessment (LMIA) that is valid for up to 36 months, rather than the usual 12 months. This will give employers more flexibility in hiring temporary foreign workers and help reduce the administrative burden.

Canada’s REP Program: Application Process

Here are the two ways to apply for a labor Market Impact Assessment (LMIA):

• LMIA Online Portal: This is a secure and reliable platform where employers can complete and submit an online application to Employment and Social Development Canada (ESDC).
  • To use the LMIA Online Portal, employers must create a Job Bank account and have a valid credit card.
  • The LMIA Online Portal is available 24 hours a day, 7 days a week.
• Email: Employers who have a legitimate exemption from using the LMIA Online Portal can email a PDF application form to ESDC.
  • To find out if you are eligible for an exemption, you can contact ESDC.
  • The PDF application form can be found on the ESDC website.
  • Once you have completed the PDF application form, you must email it to ESDC.

Canada’s REP Program: Eligibility

Employers who are eligible for the Regional Express Entry Pilot (REP) will be designated on Job Bank, a government website, to show their status to potential workers.

The Job Bank allows you to search for jobs from Canadian employers who are looking to hire temporary foreign workers. These employers have already received or applied for a labor Market Impact Assessment (LMIA), which is a document that shows there is a need for foreign workers to fill the job. The Job Bank currently has over 10,000 jobs listed for foreigners who want to work in Canada.

Employers who want to be recognized by ESDC as REPs will be assessed based on their history of engagement with the TFWP. If an employer is not recognized, they can still use the TFWP, but their LMIA assessment will be conducted in the usual way.

The DoT used the ASTR (Artificial Intelligence and Facial Recognition Powered Solution for Telecom SIM Subscriber Verification), software which detects SIM card fraud and also blocks the numbers under fake or fraudulent identity proofs. ASTR takes images submitted as identity proof from telecom operators and detects if any SIM card is registered with false details.

In the above mentioned case, the ASTR found that as many as 658 SIM cards were registered using a single Aadhaar cards as photo id proof in the Tamil Nadu’s Vijaywada district. Further probe revealed that all the SIM cards were registered in the name of Polukonda Naveen, a distributor who dispenses SIM cards to shops and other kiosks which sell SIMs to users.

The cybercrime wing has blocked around 25,135 SIM cards across Tamil Nadu in the past four months, a police official said.

Scams related to multiple mobile numbers linked to a single Aadhaar identity is prevalent across the country and may often land the owner in trouble. However, there’s an easy method to check what mobile numbers are linked to your Aadhaar card.

Here’s how:

• Visit Telecom Analytics for Fraud Management and Consumer Protection (TAFCOP) portal, a website that allows subscribers to find out what mobile numbers are registered using their Aadhaar card. However, your mobile number must be linked to your Aadhaar number.
• Enter your mobile number and type the One-Time-Password (OTP) received on your phone.
• Hit submit and all mobile numbers that have been registered using your Aadhaar card will be displayed on the portal.

Disney+’s decision to crack down on password sharing is not surprising. The company has been losing subscribers for the past two quarters, and it is looking for ways to increase revenue. Password sharing is estimated to cost the streaming industry billions of dollars each year, and it is a major source of revenue leakage for Disney+, as per AV Club.

CEO Bob Iger Warns Of Serious Consequences

Disney’s recent decision to crack down on password sharing comes amid the backdrop of an earnings call by CEO Bob Iger who called for a more aggressive approach to deal with the issue of password sharing by users. This move is similar to the steps Netflix has taken in recent years, and likely to have a significant impact on the streaming industry.

Iger said that Disney+ is “true to the playbook” in taking this approach and noted that password sharing is a major source of revenue leakage for the company. He also said that Disney+ is looking for ways to increase revenue, and that cracking down on password sharing is one way to do that.

When It Could Happen

Iger predicted that the password enforcement would start sometime in 2024 and that it would likely include alternatives for users to pay to share accounts, similar to Netflix.

“We know what you’ve all been up to” language that’s always so ominous from the streamers, stating that, “We already have the technical capability to monitor much of this,”—referring to account sharing. And, the CEO assured investors, “I’m not going to give a specific number, except to say that it is significant.” Iger was quoted saying by the site.

Disney has announced that it will be hiking up the prices of its streaming services, Disney+ and Hulu. However, there is a catch: those who choose to bundle the two services will be able to pay just $19.99/month for their ad-free versions. This is a significant discount, and it is likely to be attractive to many consumers.

Disney+ On A Subscriber Losing Streak

Disney’s streaming service has lost subscribers for the third consecutive quarter. The biggest reason for this decline is the loss of 12.5 million paid subscribers from Disney+ Hotstar in the third quarter ending July 1, 2023. This is the largest drop in subscribers since the company began disclosing its paid member count in April 2020.

The loss of subscribers from Disney+ Hotstar is likely due to a number of factors, including the loss of the Indian Premier League (IPL) streaming rights to rival JioCinema. The IPL is a hugely popular cricket tournament in India, and it is estimated to have accounted for a significant portion of Disney+ Hotstar’s subscribers, as per the Economic Times.

Once the card is registered, customers can make UPI payments by simply scanning the merchant’s QR code or entering their UPI ID and PIN.

SBI RuPay Credit Card on UPI: Details

SBI Card customers can now link their active primary credit cards to UPI and make payments to merchants using their credit cards. This facility is free for customers. To ensure that the credit card is linked successfully with UPI, it is important to make sure that the mobile number registered with SBI Card is also linked with UPI.

“With this functionality, the SBI Card customers will be able to use their SBI Card-issued RuPay credit cards on the UPI platform. Today, UPI has become a massive digital platform enabling millions of transactions every day. This should give our customers greater flexibility and mobility along with hassle-free usage. With this, the industry will witness a significant increase in credit card usage,” Rama Mohan Rao Amara, MD&CEO, SBI Card was quoted saying on the Mint.

SBI RuPay Credit Card on UPI: How To Link

1. Download a UPI third-party app from the Google Play Store or App Store.
2. Verify your mobile number on the UPI app and complete the registration process.
3. After successful registration, select the option to “Add Credit Card/Link Credit Card”.
4. Select “SBI Credit Card” from the list of credit card issuers.
5. Select your SBI RuPay Credit Card to be linked.
6. Enter the last 6 digits of your credit card and expiry date when prompted.
7. Set your 6-digit UPI PIN.

How To Do Payment to an e-Commerce Merchant Using UPI On Your Credit Card

• At the merchant’s website or app, select the UPI-enabled app that is linked to your credit card as the payment method.
• Log in to the UPI app and select your registered SBI RuPay Credit Card from the list of available accounts.
• Enter your 6-digit UPI PIN to confirm the payment.
• Payment confirmation will be displayed.
• You will be redirected to the merchant’s page once the payment is complete.

Vande Bharat Express Trains List

Following are the latest full list of Vande Bharat Express Trains running in India. This train is also called as Train 18.

1. 22435/22436 New Delhi-Varanasi Vande Bharat Express: The train runs on five days except Monday and Thursday. The train departs from New Delhi railway station at 06:00 am and reaches Varanasi at 02:00 pm covering a distance of 759 km. The base fare for an AC chair seat is Rs. 1,287, while an executive chair car ticket will cost Rs. 2,661.
2. 22439/22440 New Delhi-Shri Mata Vaishno Devi Katra Vande Bharat Express: The train runs on six days except Tuesday. The train departs from New Delhi railway station at 06:00 am and reaches Shri Mata Vaishno Devi Katra at 02:00 pm. The base fare for an AC chair seat is Rs. 1,154, while an executive chair car ticket will cost Rs. 2,375.
3. 20901/20902 Mumbai Central – Gandhinagar Capital Vande Bharat Express: The train runs on six days except Sunday. The train departs from Mumbai Central at 06:00 am and reaches Gandhinagar Capital station at 12:25 pm covering the distance of 522 km. The base fare for an AC chair seat is Rs. 974, while an executive chair car ticket will cost Rs. 2,018.
4. 22447/22448 New Delhi – Amb Andaura Vande Bharat Express: The train runs on six days except Friday. The train departs from New Delhi railway station at 05:50 am and reaches Amb Anadaura at 11:05 am. The base fare for an AC chair seat is Rs. 832, while an executive chair car ticket will cost Rs. 1,708.
5. 20607/20608 Chennai Central- Mysuru Vande Bharat Express:  The train runs on six days except Wednesday. The train departs from Chennai at 05:50 am and reaches Mysuru Junction at 12:20 pm covering the distance of 401 km. The base fare for an AC chair seat is Rs. 922, while an executive chair car ticket will cost Rs. 1,884.
6. 20825/ 20826 Nagpur – Bilaspur Vande Bharat Express: This train serves between Maharastra’s Nagpur and Chattisgarh’s Bilaspur. The train runs on six days except Saturday. The train departs from Nagpur railway station at 02:05 pm and reaches Bilaspur at 07:35 pm.
7. 22301/22302 Howrah – New Jalpaiguri Vande Bharat Express: The train runs on six days except Wednesday. The train leaves Howrah Junction at 05:55 am and reaches New Jalpaiguri at 01:25 pm covering a distance of 454 km in seven hours and thirty minutes. The base fare for an AC chair seat is Rs. 1,044, while an executive chair car ticket will cost Rs. 2,142.
8. 20833/20834 Secunderabad – Visakhapatnam Vande Bharat Express: The train runs on six days except Sunday. The train departs from Secunderabad Junction at 03:00 pm and arrives at Visakhapatnam Railway Station at 11:30 pm. The base fare for an AC chair seat is Rs. 1,207, while an executive chair car ticket will cost Rs. 2,485.
9. 22223/22224 Mumbai – Sainagar Shirdi Vande Bharat Express: This train runs on six days except Wednesday. The train departs from Mumbai’s Chhatrapati Shivaji Terminal (CST) at 04:05 pm and reaches Solapur at 10:40 pm covering a 6 hours and 35-minute long journey. The base fare for an AC chair seat is Rs. 859, while an executive chair car ticket will cost Rs. 1,766.
10. 22225/22226 Mumbai – Solapur Vande Bharat Express: This train covers its destination in five hours and 20 minutes. The train departs at 06:20 am from Mumbai and reaches Shirdi at 11:40 am. The train runs on six days except Tuesday. The base fare for an AC chair seat is Rs. 694, while an executive chair car ticket will cost Rs. 1,436.
11. 20171/20172 Rani Kamalapati Bhopal – Hazrat Nizamuddin New Delhi Vande Bharat Express: This train covers the distance of 700 km in seven hours and 45 minutes. It operates on six days except Saturday. It departs from Bhopal at 05:55 am and reaches Delhi at 01:45 pm. The base fare for an AC chair seat is Rs. 1,207, while an executive chair car ticket will cost Rs. 2,485.
12. 20702/20701 Secunderabad – Tirupati Vande Bharat Express Trains: The train reduces the travel time between the two cities by almost three-and-a-half hours. The train covers a distance of 660 km between the two cities in eight hours and 30 minutes. The train leaves at 06:00 am from Secunderabad and reaches Tirupati at 02:30 pm. It operates on six days except Tuesday. The base fare for an AC chair seat is Rs. 1,168, while an executive chair car ticket will cost Rs. 2,399.
13. 20643/20644 Chennai – Coimbatore Vande Bharat Express: It operates on six days except Wednesday. The train departs from Coimbatore at 06:00 am and reach Chennai Central at 12:10 pm. The base fare for an AC chair seat is Rs. 921, while an executive chair car ticket will cost Rs. 1,880.
14. 20977/20978 Delhi Cantt.- Ajmer Vande Bharat Express: The train runs on six days except Wednesday. The train leaves Delhi Cantt at 06:40 pm and reaches Ajmer at 11:45 pm covering a distance of 454 km in five hours and fifteen minutes. It is also the world’s first semi-high-speed passenger train on high-rise overhead electric (OHE) territory. The base fare for an AC chair seat is Rs. 813, while an executive chair car ticket will cost Rs. 1,674.
15. 20634/20633 Thiruvananthapuram – Kasaragod Vande Bharat Express Trains: The train operates on 6 days except Thursday. It departs from Thiruvananthapuram at 05:20 am and reaches Kasaragod at 1:25 pm. Meanwhile, the train leaves Kasaragod at 02.30 pm and reaches Thiruvananthapuram at 10:35 pm. It covers the 586 km long journey in 8 hours and 5 minutes while halting at 14 railway stations. The base fare for an AC chair seat is Rs. 1,068, while an executive chair car ticket will cost Rs. 2,194.
16. 22895/22896 Howrah – Puri – Howrah Vande Bharat Express:  It operates six days a week (except Thursday). It departs from Puri at 01:50 pm and reaches Howrah at 08:30 pm, covering a distance of 502 km in six hours and forty minutes. The base fare for an AC chair seat is Rs.964, while an executive chair car ticket will cost Rs.1,985.
17. 22457/22458 Delhi (Anand Vihar) -Dehradun Vande Bharat Express: The train covers distance of 302 km in four hours and forty-five minutes. It operates six days a week, except Wednesday. It departs from Dehradun at 07:00 am and reaches Delhi’s Anand Vihar terminal at 11:45 am. The fare for an AC chair seat from Delhi to Dehradun will be Rs. 1,065, while an executive chair car ticket will cost Rs. 1,890.
18. 22227/22228 New Jalpaiguri – Guwahati Vande Bharat Express: It operates six days a week, except Tuesday. It departs from Guwahati at 04:30 pm and reaches New Jalpaiguri at 10:00 pm. The base fare for an AC chair seat from Guwahati to New Jalpaiguri will be Rs. 788, while an executive chair car ticket will cost Rs. 1,613.
19. 20661/20662 KSR Bengaluru City – Dharwad Vande Bharat Express: The train originates from KSR Bengaluru at 5.45 AM and reaches Dharwad at about 12 PM. In the return direction it leaves from Dharwad at 12.22 PM and reaches KSR Bengaluru at about 7.20 PM.
20. 22350 / 22349 Ranchi – Patna – Ranchi Vande Bharat Express: The train departs from Patna and reaches Ranchi station the same day, with stoppages at Gaya, Kodarma, Hazaribag, Barkakana and Mesra Railway stations. The train runs six days a week except Tuesdays. It departs from Patna Junction at 7.00am and reaches Ranchi Junction by 1.00pm.
21. 20911/20912 Indore Jn – Bhopal Vande Bharat Express:  The train runs six days a week except Sundays. It departs from Indore Junction at 6.30am and reaches Bhopal Junction by 9.25am. The return journey begins from Bhopal Junction at 7.25pm and arrives at Indore Junction by 10.30pm. Ticket cost: Ranges from Rs950 to Rs1,525.
22. 20174/20173 Jabalpur – Rani Kamlapati Bhopal Vande Bharat Express: The train runs six days a week except Tuesdays. It departs from Rani Kamalapati at 7.00 pm and reaches Jabalpur Junction by 11.35pm, taking about 4 hours 35 minutes. The return journey begins from Jabalpur Junction at 6.00am and reaches Rani Kamalapati by 10.35am. Ticket cost: Ranges from Rs. 1,055 to Rs1,880.
23. 22229 / 22230 CSMT – Madgaon – CSMT Vande Bharat Express: The train will operate six days a week excpet Friday. The train is expected to save the journey time by about an hour as compared to the existing trains on the route. The railway ministry had cancelled the launch of the Mumbai-Goa Vande Bharat train after the Odisha tragedy.

BharatPeSwipe Android is easy to set up and use. Merchants can simply download the BharatPe app on their Android phone or tablet and pair it with the PoS machine. Once the machine is paired, merchants can start accepting payments right away.

Features Of The Devise

Powered by Android 10 operating system, the new device has a 5.5-inch HD touch screen and a long-lasting battery, supports fast charging, and is compatible with 4G and Wi-Fi for better connectivity. Supported by the BharatPe merchant app, the POS solution offers a simple and intuitive interface with the convenience of instant settlements and single point reconciliation for transactions across BharatPe QR and BharatPe Swipe.

With BharatPeSwipe Android, merchants can also accept QR payments via dynamic QR generated on the machine, as well as generate physical receipts for the QR payments done, said the company.

“The latest addition to our product suite is a powerful yet simple-to-use device that will further enable our merchants to offer their customers a seamless and secure payment experience. It aims to cater to a wide range of merchants across segments including the small merchants,” said Nalin Negi, CFO and interim CEO, BharatPe.

Platforms Avaialable

The merchant dashboard on the machine enables efficient management of transactions and settlements with a customizable view as per the requirement of the merchant. BharatPe will give its merchants an option to upgrade from the Linux based POS to the new Android POS device.

BharatPe Swipe Android

With the launch of BharatPe Swipe Android, it plans to double its POS network count over the next 12 months. The company, which had launched Linux based POS devices in the year 2020, already has a network of over 2 lakh POS machines  across more than 400 cities.

“The infrastructure for various payment acceptance offerings including point of sales (PoS) has been growing not only in metros and tier 1 cities, but also in tier 2 and 3 cities. We are bullish about our growth in the POS category with the launch of BharatPe Swipe Android devices,” said Sandeep Indurkar, Chief Business Officer-Banking and Alliances, BharatPe.

Currently serving 1 crore merchants, the company processes more than 300 million UPI transactions per month.

(With IANS inputs)

Air India’s new logo symbol ‘The Vista’ is inspired by the peak of the gold window frame, signifying limitless possibilities, progressiveness, and the airline’s bold, confident outlook for the future, it said. “The new Air India is bold, confident, and vibrant, but also warm and deeply rooted to its rich history and traditions that make Indian hospitality a global benchmark for standards in service,” Air India CEO and MD Campbell Wilson said. Further, Air India’s new aircraft livery and design features a palette of deep red, aubergine, and gold highlights, as well as a chakra-inspired pattern. It also houses a custom-made ‘Air India Sans’ font.

The airline also clarified that the iconic “Maharaja” mascot will live on and be part of airline’s journey in future. Wilson said that the Maharaja is a very important part of Air India’s legacy and they are proud with the legacy that they have. “It has been with us for more than 75 years. It is very well known and beloved in India and amongst the Indian community overseas. We very much wanted to continue it especially in local markets and with the Indian diaspora. As we move into international markets and beyond the Indian diaspora, the understanding of the Maharaja is not quite so clear. And it is not quite understood to stand for service and humility and Indian warmth and hospitality in the same way,” he said.

“We wanted to take the essence of the Maharaja the warmth for hospitality, the service ethic and distil it down not just into the way that we behave, which is going to be obviously part of our DNA, but also in the way that we use it to carry forward some of Air India’s legacy in a classy and elevated way,” he added.

It has been informed that Maharaja will not be retiring despite a shift in its role. Instead of serving as a mascot, the Maharaja’s presence will be reduced to the airline’s premium classes and airport lounges.

Revealing the bold new look of Air India.

Our new livery and design features a palette of deep red, aubergine, gold highlights and a chakra-inspired pattern.

Travellers will begin to see the new logo and design starting December 2023.#FlyAI #NewAirIndia

*Aircraft shown are… pic.twitter.com/KHXbpp0sSJ

— Air India (@airindia) August 10, 2023

Speaking about the new logo for Air India, Tasneem Ali, Chief Creative Officer of Future Brand India, said, “So when we were re-imagining the brand, we actually looked at elements within the Air India brand world and had a new interpretation of it. So the window which has always been on the plane, on the outside, inside menu card, the iconic Air India window which has been an enduring design symbol with the thing, we took that and re-imagined it.”

“And the whole point of the exercise was to create something that’s authentically and identifiably Indian, but presented in a very contemporary world-class manner…” he added.

The Maharaja mascot of the airline was created in 1946 by Bobby Kooka, the commercial director of the airline, who is responsible for the mascot’s personality and building the airline’s brand around the mascot.

Travellers will begin to see the new logo throughout their journey starting December 2023, when the airline’s first A350 enters the fleet in the new livery, according to the airline. Along with this, the airline will also be launching the new Air India website, mobile app, loyalty program etc phase-wise. It will also be launching an entirely new long-haul fleet by end of 2026.

Tata Takes control of Air India in 2022

Tata Group took control of loss-making Air India in January 2022. Earlier this year, Air India placed orders for 470 aircraft from Airbus and Boeing at USD 70 billion (based on published list prices). The deliveries of the new planes will start from November this year. As part of its transformation plan, the airline is leasing and buying 20 wide-body aircraft this year. Besides, a USD 400 million programme to completely refurbish the interiors of its legacy fleet of 43 widebody aircraft will commence in the middle of next year.

By March 2024, the carrier expects that 33 per cent of its wide-body fleet will be upgraded. ‘Taxi’, the first phase of the transformation plan Vihaan.AI, which focussed on “addressing legacy issues of the airline at scale and laying the foundation for future growth” has concluded. The second phase ‘Take Off’, — that will focus on developing the platforms, processes and systems needed to build toward excellence — is progressing now.