Indian Sector Specific News:
A) Indian Telecommunication:
1) Dell Launches AI Program to Help Telecom Industry Modernize and Improve Performance
- Dell Technologies introduced Dell AI for Telecom, a program to help telecom companies quickly adopt AI solutions to enhance network performance, customer service, and operations at the edge of their networks.
- Dell is working with NVIDIA and other partners to create AI tools that automate call centers, predict network maintenance, and develop on-demand GPU-as-a-Service offerings to boost enterprise AI.
- Collaborations with companies like Lintasarta in Indonesia and SK Telecom in South Korea are advancing AI applications in telecom, from customer care to integrating AI into business support systems.
- Dell’s PowerEdge servers and NVIDIA GPUs will power AI deployments, reducing costs, improving network performance, and unlocking new revenue streams for telecom service providers.
- Source: timestech
2) TRAI Seeks RBI's Help to Push Anti-Spam Process
- TRAI (Telecom Regulatory Association of India) is urging the RBI and other regulators to get businesses like banks and insurers to register for its Digital Consent Acquisition (DCA) process, which helps control spam calls and messages.
- The DCA allows customers to give or revoke consent for commercial communications.
- Despite being introduced in June 2023, few businesses have joined, so TRAI seeks regulatory support.
- From November 1, all promotional messages must be traceable, with telemarketing calls also moving to a stricter platform.
- Source: Business Standard
B) Indian Renewable Energy:
1) India's Renewable Energy Boom: Job Creation and Growth
- In 2023, India created 1.02 million jobs in the renewable energy sector, as reported by IRENA.
- Hydropower led employment with 453,000 jobs, while solar PV contributed 318,600 jobs, boosted by 9.7 GW of new solar installations.
- Wind energy jobs reached 52,200, with India adding 2.8 GW of new capacity, showing a strong resurgence after five years of slower growth.
- India's growing solar manufacturing capacity positions it as the second-largest PV manufacturer after China, with 46 GW in 2023, expected to grow further.
- Source: pib.gov.in
C) Indian Agriculture:
1) Govt Merges Agri Schemes into Two Umbrella Programs with ₹1 Lakh Crore Outlay
- The Union Cabinet merged all centrally sponsored agricultural schemes into two umbrella programs: Pradhan Mantri Rashtriya Krishi Vikas Yojana (PM-RKVY) for sustainable agriculture and Krishonnati Yojana (KY) for food security and self-sufficiency.
- The total outlay is ₹1.01 lakh crore, with ₹57,074.72 crore for PM-RKVY and ₹44,246.89 crore for KY.
- States are given flexibility to reallocate funds based on their specific agricultural needs.
- The National Mission for Edible Oils-Oil Seeds was also approved, aiming for self-reliance in oilseeds with a ₹10,103 crore budget over seven years.
- Source: DownToEarth
D) Indian BFSI:
1) U GRO Capital Leverages AI for Streamlined Lending and Customer Service
- U GRO Capital uses Artificial Intelligence (AI) / Machine Learning (ML) tools and Application Programming Interface (API) integrations to streamline credit assessment, reduce loan processing times, and enhance customer experiences.
- Generative AI powers chatbots for efficient customer service, while AI automates credit underwriting and loan disbursements for faster approvals.
- Cybersecurity is a top priority with data encryption, Multi-Factor Authentication (MFA), and 24/7 monitoring to ensure system security.
- Future plans include adopting the Open Credit Enablement Network (OCEN) framework to expand credit access for underserved Micro, Small, and Medium Enterprises (MSMEs) using advanced AI technologies.
- Source: expresscomputer
2) Women Leadership in BFSI Sector Shows Steady Progress in India Inc.
- According to the 2024 Avtar & Seramount BCWI-MICI study, women representation in India Inc. holds steady at 36.6%, with the Banking, Financial Services, and Insurance (BFSI) sector leading at 24.5% in leadership roles.
- The Information Technology (IT) sector is identified as the largest employer of women, comprising 24% of the workforce, while Fast-Moving Consumer Goods (FMCG) follows with 21.5% representation in leadership.
- The study indicates 40% of women occupy entry-level positions across industries, and FMCG boasts the lowest attrition rate for women in leadership at 2.6% compared to 7% for men.
- Inclusivity efforts are on the rise, with 98% of organizations now focusing on People with Disabilities (PwD), up from 58% in 2019, emphasizing the need for improved representation and safety for women in leadership roles.
International Markets:
- Piramal Finance has successfully raised $150 million through bond issuance at a yield of 7.078% for a remaining tenor of 3.32 years, following its previous $300 million sustainability bond debut in July 2024.
- Tetra Acetyl Ethylene Diamine (TAED) prices in Asia surged 11% to USD 5,390 MT FOB Shanghai in September 2024, driven by limited supply and increased demand during the Mid-Autumn holiday, with suppliers likely to maintain prices due to favorable export conditions.
- Zambian fintech company PremierCredit has rebranded as eShandi and is expanding into Zimbabwe, South Africa, and Kenya, transitioning from microloans to a key player in southern Africa's financial market.
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