Miscellany

Miscellany

India Post Payments Bank to offer financial products through third party tie-ups

To offer loans, mutual funds and insurance policies to its customers, the upcoming India Post Payments Bank plans to partner with banks and other financial companies.

“India Post Payments Bank will offer loans, mutual funds and insurance through third party tie-ups. It will sell some of Punjab National Bank products, including loans. It has partnered Bajaj Allianz for insurance and will be looking for more partners,” official sources told reporters on Wednesday.

What’s a Space Force, and can Trump really start one?

Satellites make much of modern warfare possible, through GPS systems, wireless communications and sophisticated weather forecasting. This makes satellites tempting military targets. The US Air Force is now responsible for defending American satellites and spacecraft and wants to continue to do so. But President Donald Trump says the perils require a new military branch, which has come to be known as the Space Force. Critics say this would just add bureaucracy and costs. Supporters say a new military branch is needed to prioritise US defenses for the next battlefront.

Online furniture market to triple to $3 billion by 2020

Swedish furniture retailer IKEA had announced its plans to enter the Indian market in 2012 and its first store is being launched in Hyderabad on Thursday. IKEA may have taken six years to open its first store in the country, but in these years online furniture retail has grown from zero to $1 billion category and is expected to triple to $3 billion by 2020.

Grief pours in as Rajan Nanda cremated

Escorts Group chairman Rajan Nanda (76) passed away at a hospital in Gurgaon on Sunday night. He is survived by his wife Ritu Nanda — eldest daughter of late Bollywood icon Raj Kapoor — and two children, Nikhil and Natasha. Nikhil Nanda is married to Amitabh Bachchan and Jaya Bachchan’s daughter Shweta Bachchan Nanda and currently holds the position of managing director at Escorts Limited.

Nanda, who joined Escorts in 1965 at the age of 23 and took over the reins of the company when his father and founder chairman HP Nanda stepped down in 1994 after a

Soon your washing machine will follow orders, give ideas

Your home appliances are going to be smarter than you. Washing machine will hear your instructions and follow them accordingly. Further, the machine may also seek your permission to follow the instructions that you usually give it and further provide some intelligent suggestions as to what clothes should not be washed together. 

DoT seeks views on blocking Facebook, WhatsApp, Instagram

Amid the widespread incidents of mob lynching due to rumours spread through social media apps, the department of telecom (DoT) has sought views of the industry on technical measures that can be adopted for blocking mobile apps like Instagram, Facebook, WhatsApp, Telegram etc.

WhatsApp, the popular messaging app, has particularly been in the eye of storm over abuse of the platform for circulation of fake news that has resulted in incitement of mob fury in several parts of the country.

Paul Krugman predicts collapse of crypto currencies

Expressing his scepticism about the value of cryptocurrencies Nobel Prize winning economist Paul Krugman has said that  “total collapse is a real possibility”.

In his opinion on New York Times, Krugman, a vocal critic of the digital currency, has given a two-fold explanation outlining his scepticism and said that cryptocurrency, despite its cutting-edge technology, has “set the monetary system back by 300 years”.

Indywood Billionaires Club opens FDI doors for film industry, raises Rs 3,000 cr

The Indywood Billionaires Club, an innovative initiative kicked off last year by the Sharjah-headquartered Aries Group to open the doors of Indian film industry for foreign direct investment, has already mobilised funds worth Rs 3,000 crore from nearly 20 leading NRI investors based in the United Arab Emirates, Europe and Asia-Pacific.

Keeping Zuckerberg safe now costs an extra $10 million a year

It costs a lot to keep Mark Zuckerberg safe. Facebook Inc spent $7.33 million last year protecting its chief executive officer at his homes and during his tour across the US. Last week, the social-media giant said it would provide an additional $10 million a year for him to spend on personal security.

The cost for this year far exceeds what other firms will spend for their bosses and probably surpass the average annual compensation for S&P 500 CEOs. For the world’s sixth-richest person, it doesn’t necessarily amount to much.

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