Page 39 - Tech Prowess News Today

Draft Digital Competition Bill proposes ex-ante regulations similar to the EUs DMA, impacting user experience and innovation. Concerns over potential overregulation and necessity of new laws in India are being debated.

The South Korean semiconductor and smartphone giant said its operating profit for the Jan-March quarter came in at 6.6 trillion won ($4.8 billion), up from the 640 billion won ($465 million) it earned during the same period last year.

The fund is allocating a significant portion of its third fund to invest in around 25 early-stage startups. These initial investments will typically range from Rs 30 crore to Rs 50 crore. Some of the startups that have already received funding include Dhruva Space, Snitch, Celcius Logistics, GradRight, Eggoz, and Flexifyme.

Fi, backed by Peak XV and Temasek, obtained an NBFC licence from RBI for independent lending. Like Jupiter, Groww, and Cred, Fi now offers loans and additional financial services.

The PA licence will allow Bengaluru-based Groww to process online payments by itself. The licence was issued in the name of the companys subsidiary payment business Groww Pay.

Delhi High Court restrains Ashneer Grover from transferring shares to prevent irreparable loss to Bhavik Koladiya. The legal battle involves claims over shares transferred before BharatPes incorporation, highlighting Grovers resignation in March 2022.

AI startup Nintee, led by Paras Chopra, closed after struggling to compete with bigger platforms. Funding to be returned. Employees offered roles at Wingify.

Google took significant measures in 2023 to prevent policy-violating apps on Google Play. Various security features, partnerships, and enhanced review processes were implemented to protect users and developers. New initiatives in 2024 will focus on app transparency and privacy practices.

Last week, WhatsApp told the Delhi High Court that it would have to stop operations in India if its forced to break encryption for compliance with Indias Information Technology (IT) Rules, 2021.

Uber ceases operations in Pakistani, directing users to switch to Careem. Uber had already ceased operations in Karachi, Multan, Faisalabad, Peshawar and Islamabad in 2022.