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RBS to Cut Over 400 Jobs in UK, Move Many of Them to India

26Jun By AdityaNo Comments

News

RBS to Cut Over 400 Jobs in UK, Move Many of Them to India

British lender Royal Bank of Scotland said today that it is cutting 443 UK jobs dealing with business loans, and plans to shift many of the roles to India. The UKs largest government-owned bank said it was moving the jobs, which help handle loans for small businesses, as part of an ongoing cost-cutting drive. "As we become a simpler, smaller bank, we are making some changes to the way we serve our customers. Unfortunately, these changes will result in the net reduction of 443 roles in the UK," a spokesperson for the bank said. The bank said it would support staff affected by the "disappointing news", including by moving them into new roles where possible. Workers union Unite said British workers and taxpayers would lose out from the move. "By shipping these jobs to India, RB...

Fintech Startup LoanTap Raises Rs 26 crore For Business Expansion

24Jun By AdityaNo Comments

FUNDING

Fintech Startup LoanTap Raises Rs 26 crore For Business Expansion

LoanTap Financial Technologies today said it has raised USD 4 million (about Rs 26 crore) in second round of funding, which will be invested in software and expand its footprint in tier 2 and 3 cities. "LoanTap Financial Technologies, an online personal loan company with in-house NBFC, has announced closing of its second round funding at USD 4 million," the company said in a statement. Post funding, LoanTap aims to bolster collection features in its software, besides reaching out to Tier 2 and Tier 3, major capital cities and business hubs. The fund raising round comprises of a mix of equity and debt instruments from Kae Capital, India Quotient, IFMR and MAS Financial Services Ltd. "Equity infusion to the platform was led by Kae Capital with participation from its existing inve...

16Jun By AdityaNo Comments

INDIA

Indian Government Will Launch Policies To Become USD 1 Trillion Digital Economy

The government will come out with three new policies, including electronics manufacturing and data protection, as part of its efforts to make India a USD 1 trillion digital economy in a few years. Speaking after a two-and-a-half hour meeting with Indian tech industry captains, IT Minister Ravi Shankar Prasad today exuded confidence that India is well-positioned to become a USD 1 trillion digital economy in next few years. "The industry has assured us that they are committed to support us in this mission... We will be shortly laying down the new electronics policy because between the old policy and now, India under Narendra Modi has changed completely," Prasad said. He added that the government will also come up with a new software product policy and a framework for data security a...

15Jun By AdityaNo Comments

INDIA

India to Have 1.4 Billion Mobile Subscribers by 2022

The overall mobile subscriber base in the country is likely to grow to 1.4 billion by 2022 and nearly one-third of them will be 4G users, says a report by Ericsson Mobility. India led the mobile subscribers growth globally with highest net addition of over 43 million customers in January- March 2017, it said. China followed India with net addition of over 24 million mobile subscribers during the three-month period. Indias total mobile subscriber base is expected to grow to over 1.4 billion in the next five years of which 520 million will be 4G subscribers, the report said. The 5G service is expected to be operational in India by 2022 with subscriber base of around 3 million, it added. "Based on trend of deployment of LTE by telecom operators in India, we feel 3G will be domina...

Tata Owned Jaguar Unit Invests $25 Million in Lyft

13Jun By AdityaNo Comments

FUNDING

Tata Owned Jaguar Unit Invests $25 Million in Lyft

Tata Motors-owned Jaguar Land Rover (JLR) has invested USD 25 million (over Rs 160 crore) in Lyft, the fastest-growing rideshare company in the US. The investment by InMotion Ventures, a part of JLR, will support Lyfts expansion and technology plans, the UK-based luxury carmaker said in a statement. The initiative will also provide InMotion Ventures with the opportunity to develop and test its mobility services, including autonomous vehicles, and to supply Lyft drivers with a fleet of Jaguar and Land Rover vehicles, it added. "This is a strategic investment for both parties as we focus on innovating new mobility solutions for our customers. Collaborating with an expanding technology business like Lyft is going to help us both accelerate our ambitions," JLR Executive Director of Co...

News, Sports Websites Vulnerable to Cyber Attacks: Study

11Jun By AdityaNo Comments

ANALYSIS

News, Sports Websites Vulnerable to Cyber Attacks: Study

News and sports websites have some of the lowest levels of security adoption, making them vulnerable to cyber attacks, a new study has found. Researchers looked at the security protocols used by the top 500 sites in various industries and online sectors. They found that fewer than 10 per cent of news and sports websites used basic security protocols such as Transport Layer Security (TLS). Even those that do are not always using the "latest or strongest protocols", researchers said. "It is like news and sport content providers do not value the security of their content," said Professor Alan Woodward, a cyber-security expert at the University of Surrey in the UK. "They are leaving themselves vulnerable to attacks like cross-site scripting, where an attacker can pretend somethi...

Cisco Open Its First Global Digital Experience Centre in India

10Jun By AdityaNo Comments

BUSINESS

Cisco Open Its First Global Digital Experience Centre in India

American hardware major Cisco today said it is witnessing a jump in demand by Indian banks since the demonetisation move, which made it open its first global digital experience centre here. "Overall we see a significant ramp-up requirements are coming from them, especially since November last year. That is where we have also seen growth," Cisco Indias president Dinesh Malkani told reporters here. He said digital solutions are "top of the mind" even for the state-run lenders, who are wanting solutions on a variety of aspects. The company has nine innovation centres globally at places like San Jose, London, Tokyo and Berlin, but this is a global first where it has launched a dedicated digital experience centre targeted at the banking, insurance and financial services sector. A co...

Amazon Global Workshop in Delhi For Entrepreneurs on Global Selling

9Jun By AdityaNo Comments

News

Amazon Global Workshop in Delhi For Entrepreneurs on Global Selling

E-commerce major Amazon will conduct a workshop today to educate small and medium businesses and enable entrepreneurs to sell their products to consumers across the globe. The workshop will focus on Amazons global selling programme that enables easy, simple and convenient access for all Indian sellers to sell their products globally, Amazon said in a statement. The workshop will be held at Saket in Delhi the national capital of India. The e-commerce major launched its global selling programme in India in 2015, which helps Indian businesses take their Made in India products to millions of customers across the globe through 10 global Amazon marketplaces. Commenting on the workshop, Amazon India Head-Global Selling Abhijit Kamra said: "We see immense potential in Delhi and look fo...

9Jun By AdityaNo Comments

FUNDING

Online Travel Destination Platform Guiddoo Raises 2 Crore Funding

Guiddoo an in-destination platform that offers information on tours and activities, dining and shopping options to Indian travelers going abroad has raised USD 300,000 (about Rs 2 crore) from a clutch of investors. The company would utilise the funds to support product and technology development through its newly-opened technology and data unit based in Pune, according to a statement. Part of the funds would also be utilised towards building pan-India distribution for its tours, activities and holidays products. "Guiddoo has raised funding of USD 300,000 in Pre- Series A funding by existing investors Pawan Borle and Nirmal Singh as well as new investors including Manish Prasad, Vineet Varma, Nick Haulkoury, and Abhai S. Rao," the statement added.

8Jun By AdityaNo Comments

FUNDING

Online Education Firm Coursera Raises $64 Million Funding

Online education firm Coursera has raised USD 64 million from GSV Asset Management, New Enterprise Associates (NEA) and Kleiner Perkins Caufield Byers (KPCB), among others. The series D funding round also saw participation from Learn Capital and Lampert Foundation, Coursera said in a statement. The new funding takes the company's total capital raised to date to USD 210.3 million. Coursera has over 26 million registered learners globally. Coursera will use the latest round to fund efforts in its fast-growing enterprise business (Coursera for Business), to expand its masters degree portfolio, and to accelerate product innovations, it said. "This round of funding enables us to continue innovating across our platform to deliver better learner outcomes, and to accelerate the momentu...

Big Blow To Trump, US Tech Giants Join Alliance to Honour Paris Climate Agreement

6Jun By AdityaNo Comments

USA

Big Blow To Trump, US Tech Giants Join Alliance to Honour Paris Climate Agreement

US tech giants, government leaders, investors, universities, and companies have agreed to fight global warming by reducing carbon emissions and honour the Paris Agreement on climate change, days after President Trump announced his decision to withdraw from the landmark deal. Various companies like Apple, Google, Facebook, Intel and Microsoft are among the hundreds of businesses that declared their intention to continue working toward reducing carbon emissions. The firms who were noticeably absent were Oracle, IBM, and all the major telecommunications providers. "In the absence of leadership from Washington, states, cities, colleges and universities and businesses representing a sizeable percentage of the US economy will pursue ambitious climate goals, working together to take forc...

BHIVE Co-Working Space Raises $1.2 Million From Blume Ventures

5Jun By AdityaNo Comments

FUNDING

BHIVE Co-Working Space Raises $1.2 Million From Blume Ventures

Leading co-working and shared office space provider BHIVE Workspace has raised USD 1.2 Million in a fresh round of funding, to fuel its pan-India and international expansion of premium co-working spaces. The latest round is led by Blume Ventures, along with marquee investors like Actor-Director Ramesh Aravind, Mr. Meera Reddy, MD of SKCL and other high net-worth individuals. In an earlier funding round in 2015, BHIVE raised around USD 1 Million from Blume Ventures and high profile investors like Raghunandan G, Founder, TaxiForSure; Rajesh Rai, Venture Capitalist; Arihant Patni, Managing Director, Hive Technologies; Sanjay Mirchandani, Owner, Mirchandani Group; Arun Narayan, Director, UK India Business Council; among others. "In the last two years, we've expanded our co-working space ...