Additionally within the letter:
■ Love, delivered in 10-minutes
■ DPDP suggestions deadline prolonged
■ Modi-Trump increase tech ties
Sachin Bansal assumes chairman function at Navi, appoints new CEOs
Sachin Bansal, founder, Navi Applied sciences
Sachin Bansal will become executive chairman at Navi Group, overseeing technique whereas stepping away from day by day operations. The group consists of the lending arm Navi Finserv and the tech unit Navi Applied sciences.
L-R, Rajiv Naresh, CEO, Navi Applied sciences & Abhishek Dwivedi, CEO, Navi Finserv
Meet the brand new CEOs: At a board assembly on Friday, the Navi board authorised the appointment of Abhishek Dwivedi as CEO of Navi Finserv and Rajiv Naresh as CEO of Navi Applied sciences. Each have been with the group since its inception.
Quote, unquote: “Because the group’s operations have expanded, it has change into more difficult to handle all the things alone,” Bansal, cofounder of Navi Group, advised ET in an unique interplay.
He’ll concentrate on figuring out progress alternatives for Navi, main mergers and acquisitions, and strengthening the corporate’s compliance and threat administration frameworks.
Recap:
Financials:
- On the finish of December 2024, Navi Finserv had a mortgage e book of Rs 7,700 crore.
- It posted income of Rs 192 crore between April 2024 and December 2024.
- Its complete revenue stood at Rs 1770 crore between April 2024 and December 2024.
Additionally Learn: Sachin Bansal in talks to sell $100 million investment in Ola at a premium
Infosys mass layoffs grievance referred to Karnataka’s labour ministry
The central authorities’s Ministry of Labour and Employment instructed Karnataka’s labour ministry to take “urgent” action to deal with a grievance alleging that IT agency Infosys had unlawfully terminated trainees.
What’s taking place?
- Karnataka’s labour division officers visited Infosys campuses in Bengaluru and Mysuru to guage the scenario.
- The officers mentioned the hiring and coaching processes and the enterprise projections that led to the terminations with firm representatives.
Context:
- Final week, Infosys terminated around 700 trainees.
- These trainees had been amongst these employed two-and-a-half years in the past however onboarded final October.
- The corporate attributed the layoffs to failing an inside evaluation programme.
Inform me extra:
- Following the incident, the IT worker union Nascent Data Expertise Workers Senate (NITES) filed a proper grievance with the labour ministry, terming it “unlawful” and “unethical.”
- NITES had known as for strict penalties towards the corporate, a right away investigation, a restraining order to stop additional terminations, and the reinstatement of all terminated staff with compensation for wrongful dismissal.
Additionally Learn: Infosys layoffs, pay hikes, and expansion: Key updates
For Valentine’s Day, fast commerce enables you to press all the suitable buttons
Main fast commerce platforms have upped the spice quotient on Valentine’s Day by promoting ‘naughty presents’—from handcuffs and ribbed strokers to tingling lubes, edible physique paints and massagers.
V-day particular:
- One platform has a ‘Really feel the Intimacy’ web page below its Valentine’s Week part that provides to ship ‘sensual picks to set the temper’ throughout odor, style, contact, sight, and sound inside 10 minutes, powered by manufacturers corresponding to Reckitt Benckiser’s Durex condoms and Lindt candies.
- One other platform has ‘Kiss Day’ specials powered by world chocolate maker Hershey’s.
Spicing it up:
- Firms corresponding to Daring Care, which sells males’s sexual well being and wellness merchandise, and intimacy model MyMuse are seeing growing gross sales and investor curiosity.
- Daring Care, as an illustration, noticed round a 30% uptick in gross sales of condoms, lubes, and delay sprays since Monday, in comparison with business-as-usual (BAU) days.
- Ditto for MyMuse, which noticed a 2.5x spike in day by day gross sales in comparison with BAU within the leadup to V-Day.
Ideally suited channel: Fast commerce has emerged as the right channel for these manufacturers, catering to customers searching for a discreet buy expertise.
Additionally Learn: Zepto expands into pharmacy, wellness space
IT ministry points official discover for 15-days extension for draft DPDP Guidelines suggestions
In a discover, the ministry of electronics and knowledge expertise (MeitY) extended the deadline for submitting feedback on the draft Digital Private Knowledge Safety (DPDP) Guidelines, 2025 to March 5.
The preliminary deadline was on February 18.
Particulars:
- Under the new rules, MeitY has proposed that knowledge fiduciaries should implement measures to make sure verifiable parental consent is obtained earlier than processing any baby’s private knowledge.
- The manager guidelines have additionally stored the likelihood open for the return of knowledge localisation provisions for sure forms of private knowledge.
- It has additionally proposed categorising knowledge fiduciaries into three teams—ecommerce firms, gaming intermediaries, and social media companies.
In case of a breach:
- Knowledge fiduciaries should notify the Knowledge Safety Board inside 72 hours.
- Organisations might want to inform the consumer of particulars of the breach in a “concise, clear and plain method and directly by the consumer account or any mode of communication” supplied by the consumer.
- Organisations should inform the board in regards to the breach’s nature and extent, folks or occasions accountable, remedial actions taken, and the way affected customers had been notified.
AI, semiconductors, quantum: Modi-Trump talks deepen tech ties
Prime Minister Narendra Modi met US President Donald Trump on the White Home for commerce discussions. Each leaders agreed to strengthen collaboration on artificial intelligence (AI), one of many world’s fastest-growing applied sciences.
Inform me extra: The leaders introduced the launch of the US-India TRUST initiative, which goals to strengthen collaboration between governments, academia, and the non-public sector.
The catch: Regardless of the worldwide push for moral and inclusive AI, the US remains outside the Paris Agreement on AI—a pact signed by 60 nations, together with India, France, and China, to make sure the expertise is developed safely and responsibly.
TikTok returns on Apple, Google app shops as Donald Trump delays ban
TikTok returned to US Apple and Google app stores on Thursday after President Donald Trump pushed its ban to April 5, assuring firms that they might not face fines for internet hosting or distributing the Chinese language app.
Look again: Trump’s government order final month delayed the ban on TikTok for 75 days, briefly permitting China’s ByteDance-owned firm to proceed its operations within the US.
Additionally Learn: ETtech Explainer | TikTok ban: how did this begin and what’s next?
Discover more from News Journals
Subscribe to get the latest posts sent to your email.
