BharatPe, PhonePe, Voda-Idea, Indian IT sector, Google Meet, Apple, xAI's Supercomputer, etc.

Main Briefs

Fintech Firms PhonePe and BharatPe Reach Amicable Trademark Agreement

• PhonePe and BharatPe settled a five-year legal dispute over the 'Pe' suffix.

• Both companies withdrew trademark oppositions against each other.

• The conflict began in 2018 when PhonePe challenged BharatPe's use of 'Pe'.

• In 2019, PhonePe sought a court injunction against BharatPe's usage.

• In 2021, PhonePe's lawsuit against BharatPe's BNPL service PostPe was dismissed.

• The resolution is seen as a positive development for the fintech industry.

Briefs, You Can’t Miss:

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5. Voda Idea in 5G gear talks with Ericsson, stock rises 12% on BSE.

6. Trade deficit looms as India struggles with top trading partners in 2023-24.

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8. New Sun Pharma plant inaugurated, boosting operations in Bangladesh.

World Briefs

• Musk’s $56 billion pay package under scrutiny as advisory firm urges rejection.

• Google Meet rolls out ‘Adaptive Audio’ to synchronize microphones on multiple devices.

AI Briefs

• xAI startup to benefit from Musk’s plans for largest supercomputer ever, report says.

• EU body finds ChatGPT lacking in data accuracy, calls for improvements.

Company Of The Day

Company Name: PhonePe

Founder: Burzin Engineer, Rahul Chari, Sameer Nigam

Year Of Foundation: Dec 2015

Headquarter: Andheri, Maharashtra, India

Industry: PhonePe is a mobile payment application that enables users to transfer money.

Why Is It in the News?
BharatPe Group and PhonePe Group have resolved all trademark disputes related to the suffix 'Pe' amicably, according to a joint statement.