Byju's WFH, PayTm, CAA, Hanooman AI, Adani's in AI & Chip, Reddit, Elon Musk, etc.

Author

Vaishali Sharma
March 12, 2024

 Byju's Restructuring Plan: Navigating Through Turbulent Times with Remote Work

  • Byju's has relinquished nearly all its office spaces across India to cut costs amidst financial challenges.

  • The company retains only its Bengaluru headquarters, directing employees to work from home indefinitely.

  • This decision coincides with disputes with investors and delayed February salaries for 75% of its workforce.

  • The company is undergoing a restructuring plan, including office closures as leases expire.

  • Byju's has laid off thousands in the past year due to decreased venture capital funding and online learning demand.

  • Efforts to stabilize include capital infusion from early investors and the formation of an advisory council with industry veterans.

 Bridging Cultures and Technology: The Rise of Hanooman AI

  • Development and Partnership: 'Hanooman' is developed by IIT-Bombay in partnership with Seetha Mahalakshmi Healthcare, part of the BharatGPT ecosystem with support from industry partners like Reliance Jio.

  • Cultural and Technological Integration: Named after Lord Hanuman, the model embodies the integration of Bharatiya linguistic and cultural heritage with technological innovation.

  • Capabilities: The model can generate text and speech in several Indian languages, with the first version supporting 11 languages and plans to support all 22 official Indian languages.

  • Focus Areas: Initially focusing on healthcare, 'Hanooman' aims to assist professionals by summarizing conversations and is also geared towards aiding education by assisting students and teachers.

  • Future Prospects: Supported by the central government's AI Mission, the project anticipates using a 10,000 GPU supercomputer, with the first version boasting 7 billion parameters.

Paytm Payments Bank Services Post-March 15

  • RBI Restrictions: Imposed on Paytm Payments Bank for non-compliance, effective from January 31, 2024.

  • Deadline Extended: To March 15, 2024, for accepting new deposits or top-ups.

    • Available Services Post-Deadline:

      • Withdrawals from accounts and debit card uses

      • Refunds, cashbacks, and interest credits

      • Execution of withdrawal/debit mandates like NACH for bills and subscriptions

    • Unavailable Services Post-Deadline:

      • No new deposits or top-ups

      • No salary credits or direct benefit transfers

      • FASTag cannot be recharged; alternative FASTag acquisition recommended

      • Advisory for Customers: To make alternative banking arrangements before March 15, 2024, to avoid inconveniences.

 India Implements CAA to Aid Non-Muslim Migrants, Simplifies Citizenship Process

  • The Ministry of Home Affairs has notified the implementation of the Citizenship (Amendment) Act, 2019 (CAA) to assist non-Muslim migrants from Pakistan, Bangladesh, and Afghanistan in acquiring Indian citizenship.

  • The CAA, passed in December 2019, benefits six minority communities escaping religious persecution: Hindus, Sikhs, Buddhists, Jains, Parsis, and Christians.

  • Eligible migrants are those who entered India on or before December 31, 2014, with the legislation reducing the naturalization residency requirement from eleven to six years.

  • The application process for citizenship under the CAA will be conducted online, simplifying the procedure for applicants.

  • The CAA addresses religious persecution in the three specified countries, which have official state religions, excluding Muslims who are not considered minorities in these nations.

  • The Act is distinct from the National Register of Citizens (NRC), which aims to document legal Indian citizens and is currently being updated, especially in Assam to manage illegal immigration.

Briefs, You Can’t Miss:

  1. M&M's Electric Leap: Launching Three Electric Utility Vehicles to Emphasize UV Dedication.

  2. Ten New AI Labs to Open in Thiruvananthapuram Colleges, Announces Rajeev Chandrasekhar.

  3. RBI Ombudsman Faces 68% Jump in Customer Complaints for 2022-23 Period. 

  4. February Marks 56% Increase in White-Collar Jobs for Women in India, IT Leads the Way.

  5. Allegations Surface: Ashneer Grover Claims Rajnish Kumar Involved in BharatPe Fraud to RBI.

  6. 'Indus PayWear': A Revolutionary Contactless Payment Wearable Launched by IndusInd Bank.

  7. Tech in Governance: Hyderabad to Roll Out Facial Recognition Attendance for Municipal Workers.

  8. India Continues as Global Leader in Arms Imports, with Russia as Principal Supplier.

World Briefs

  • Adani's Tech Vision: Discusses AI and Chips in High-Level Meeting with Qualcomm CEO

  • Reddit Aims High with $748 Million IPO Launch. 

  • New Peak for Bitcoin: Hits $72,700 as 'Extreme Greed' Caution Emerges.

  • The founder of Telegram has stated that the company is expected to reach profitability next year.

AI Briefs

  • China's Medical Milestone: Testing AI Chatbots to Assist Brain Surgeons in Hospitals.

  • Leading the AI Race: Groq's Platform Sets New Speed Records, Outshines ChatGPT and Gemini.

  • Elon Musk has announced that xAI will be open sourcing Grok this week.