Allahabad Bank hit by fraud of Rs 688 crore by SEL Manufacturing
State-owned Allahabad Bank said it has been hit by a fraud of Rs 688.27 crore by SEL Manufacturing and the matter is before the National Company Law Tribunal.Last week, the Kolkata-headquartered lender had disclosed to the RBI about a fraud of Rs 1,774.82 crore by Bhushan Steel and Power Ltd., alleging diversion of funds from banking system by the company.
Bill Gates no longer 2nd richest person in world; Jeff Bezos remains on top
Microsoft Corp co-founder Bill Gates, who has never been ranked below the second spot on the Bloomberg Billionaires Index has been pushed to the Number 3 rank by Bernard Arnault, Chairman and Chief Executive Officer of LVMH Moet Hennessy - Louis Vuitton SE, aka LVMH. Amazon chief Jeff Bezos is the still richest man in the world, with a total net worth of $125 billion. Bill Gates stands at Number 3 with net worth of $107 billion
FaceApp takes social media by storm despite privacy concerns
Interested to know how you'll look when you are 80? There is an app that promises to show you the future. Launched in 2017, the FaceApp is back in focus after it fine-tuned its AI engine. The app has become better at showing how users will look when they age. The apps 'old' filter has taken the social media by storm.
Netflix plans to launch cheaper mobile-only plan in India
Netflix Inc (NFLX.O) said on Wednesday it would roll out a lower-priced mobile-only plan in India, tapping into a price-sensitive market where data consumption on smartphones is surging.The video streaming pioneer said in March that it was testing a 250 rupee ($3.63) monthly subscription for mobile devices in India, where data plans are among the cheapest in the world.
DGCA found safety management system of 5 airlines deficient, govt tells Rajya Sabha
Aviation regulator DGCA has conducted safety audits of Air India Express, SpiceJet, AirAsia, IndiGo and GoAir and it found the implementation of their safety management system "to be deficient", the government informed Rajya Sabha Wednesday. Civil Aviation Minister Hardeep Singh Puri said the audits also found that the flight crew rostering software was not upgraded and untrained staff were manning check-in counters.
Cabinet approves amendments to bankruptcy law, allows 330 days for resolution
The Union Cabinet cleared seven amendments to the Insolvency and Bankruptcy Code (IBC) during its meeting on Wednesday which will allow the government to stick to strict timelines, and simultaneously, maximise the value of an insolvent entity from the resolution plan as a going concern.
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