Cabinet Approves Dena Bank, Vijaya Bank and BoB Merger

The Union Cabinet on Wednesday approved the merger of Bank of Baroda, Vijaya and Dena Bank to be effective from April 1. The merged entity will create the second largest public sector bank in the country after State Bank of India. 

The merged entity will create the second largest public sector bank in the country after State Bank of India. There will be no retrenchment of employees after the merger, the government said. 

There will be no retrenchment of employees after the merger, the government said. “After the merger, all employees of Vijaya and Dena will be shifted to Bank of Baroda,” Law and IT Minister Ravi Shankar Prasad said after the Cabinet meeting. 

Of the three banks, Dena Bank is the weakest bank with the highest NPA ratio of 11.04% and business of merely Rs 1.72 lakh crore, followed by Vijaya Bank that has Rs 2 lakh crore worth of business and 4.10% of NPA. 

BoB has Rs 10.2 lakh crore worth business and an NPA of 5.4%. According to Finance Minister Arun Jaitley, the merger of two weak banks with a strong one will take care of their bad loans and provide better business opportunities with expertise draw from all three. Upon commencement of the scheme, all business, assets, rights, titles, claims, licenses, approvals and other privileges and all property, all bor­rowings, liabilities and obligations of Dena and Vijaya banks will be transferred to BOB, Prasad said.

QuEST Global to Unveil FOTA Blueprint Solution for the Automotive Industry at CES 2019

QuEST Global, the pioneering engineering services provider, will showcase a highly secure Firmware-Over-The-Air (FOTA) blueprint solution at Consumer Electronics Show (CES) 2019. Built with Adaptive Delta technology, the FOTA blueprint solution enables real-time management and updating of automotive firmware. It can be seamlessly customized for any vehicle that needs periodic software upgrade in the digitally connected ecosystem or even otherwise. The solution, developed by Mobiliya, a QuEST Global company, enables two way connectivity between multiple Electronic Control Units (ECUs) and Cloud through the device gateway to allow fleet managers schedule maintenance, reduce downtimes, and in turn, increase efficiency.

The delta update downloads only the differences between a new version of software and its prior version, thus reducing the amount of data (small size binary delta) transmitted. The full new version of the software is then reconstructed locally. For millions of vehicles that need regular software updates, delivering such delta updates is an effective mechanism to reduce airtime requirements, and cloud and transmission costs.

The solution is highly flexible and can be quickly and effortlessly integrated with the existing ECU infrastructure of various OEMs and Tier-1s. By analysing large volumes of data generated by the ECUs of vehicles, it can enhance operational efficiencies and user experience manifold.

Other salient features of this solution are:

Fault-tolerant architecture
Generation of smallest possible delta
In-place update for faster performance
Adaptability to various ECU characteristics
Analytics and reporting for the real-time vehicle status
Improved performance of software upgrades regardless of ECU specification

Krish Kupathil, Head – Digital and Hi-Tech, QuEST Global, said, “With the recent developments in the connected vehicle ecosystem, automobiles have become increasingly complex. These vehicles require regular updates with new features and versions throughout their lifespan. Currently, the upgrade process is tedious with a lot of manual intervention involved. This disruptive and innovative FOTA blueprint solution not only ensures faster time-to-market for OEMs through the quick and efficient deployment of value-added services, but also reduces software upgrade cost significantly.”

Star Suvarna Joins Hands with CRY to Support Girl Child Education

Star Suvarna, one of the leading entertainment Kannada channel join hands with Child Rights and You (CRY) to support girl child education. The channel is going a step ahead by focusing on gender bias through their new TV show Mounaraga. The program is an upcoming fiction show which speaks about gender equality and voices out against the female foeticide in the country.

One of the leading NGOs in India, CRY has been working tirelessly in the domain of child rights for the last four decades.  Around 2.39 lakh girls aged less than five year die every year in India while almost 1.2 crore of Indian girls have been aborted since 1981, such is the sad state of the ‘Girl Child’ in our country. To address the criticality of the situation, Star Suvarna’s has come to the fore and contributed Rs 6,00,000 towards to CRY to support the girl child campaign while launching the new show-Mounaraga.

“It is important for responsible TV shows like Mounaraga to raise awareness on crucial social issues like foeticide – which are hidden, rarely discussed, but very prevalent, and other issues such as child labour, child marriage. These are issues which also need to be dealt with sensitivity, and compassion. We are really happy that Star Suvarna has come forward to highlight violations towards children, to emphasise the need to give children a childhood, educate them, so that they are able to break out intergenerational poverty.   We would also like to thank them for their contribution towards girl child education and for joining hands with us in our endeavor to make a lasting change in the lives of children,” said Suma Ravi, Regional Director (South), CRY.

“Star Suvarna is making a small attempt to propagate the cause by condemning female foeticide and girl child discrimination. We are bringing a story to make people more empathetic towards the cause also raise awareness on some critical issues” said Sai Prasad - Business Head, Star Suvarna.

Mounaraga is the story and struggle of a girl who survives female foeticide but is born mute. Deprived of father’s love and affection even before her birth, for being a girl child and mute Raga faces the hardship of life every day.

In support of gender equality, the channel has also started a campaign called #letherlive on social media. Parents are urged to tag a picture of them with their daughters using the #letherlive.  Several successful female celebrities of Kannada film Industry have come forward to show their support for the cause. Stalwarts like Sudharani, Haripriya, Sudha Belavadi, Samyuktha Hornad, Mayuri have shown their support by speaking about the #letherlive campaign. The campaign has already garnered huge support from television viewers.

India Military Will Use Drones, Unmanned Tanks, Robotic Weaponry in Future Wars

In an ambitious defence project, the government has started work on incorporating artificial intelligence + (AI) to enhance the operational preparedness of the armed forces in a significant way that would include equipping them with unmanned tanks, vessels, aerial vehicles and robotic weaponry.

The move is part of a broader policy initiative to prepare the Army, Navy and the Air Force for next generation warfare and comes amid rising Chinese investments in developing critical applications of AI for its military.

Secretary Defence Production Ajay Kumar said the government had decided to introduce AI in all the three forces + as it would be a "big area" considering the requirements of future warfare.

He said a high-powered task force headed by Tata Sons Chairman N Chandrasekaran was finalising the specifics and framework of the project, which would be implemented in a "partnership model" between the armed forces and the private sector.

"It is India's preparation for next generation warfare. This (AI) is where the future is going to be. We need to prepare ourselves for the next generation warfare which will be more and more technology driven, more and more automated and robotised," he told the media.

India Remains Fastest Growing Economy Ahead of China During 2018

India remained ahead of China to retain the tag world’s fastest growing large economy withstanding several ups and downs, spike in oil prices and global trade war like situation during 2018.

Indian economy’s roller-coaster ride during the year gone by was best captured by the GDP growth. In the first quarter of 2018-19 ending June 30, it grew at an impressive 8.2%, after 7.7% in the first three months of the year.

Then it slipped to 7.1% in the next quarter ending September 30. Fitch Ratings slashed India’s GDP growth forecast to 7.2% for the current fiscal, from 7.8% projected in September, citing higher financing cost and reduced credit availability.

According to Niti Aayog Vice-Chairman Rajiv Kumar, the focus of the government in 2019 will be to expedite reforms with a view to accelerate growth.

“India will grow at around 7.8 per cent in the next calendar year and investment cycle that has already started picking-up will gather further strength and we will see more private investments,” Kumar said.

Experts, however, expect that moderating growth can force the government to spend more before the next general elections and that could lead to fiscal pressures.

Global factors such as sudden zoom in crude prices (which are now easing), strengthening US dollar, slowing growth in the wake of US-China trade war and the US Federal Reserve hiking interest rate for the fourth time in a year did take the toll on India’s economy.

The banking sector ruled the headlines in 2018. The year opened with India’s biggest banking scam coming to light. On February 14, state-owned Punjab National Bank said it had detected a Rs 11,400 crore scam where billionaire-jeweller Nirav Modi allegedly acquired fraudulent letters of undertaking from a branch in Mumbai to secure overseas credit from other Indian lenders.

Karnataka Bank Unveils ‘KBL Mobile Plus’ in Mangalore

Karnataka Bank MD and CEO Mahabaleshwara M S, Non-executive Chairman P Jayaram Bhat and others were present at the launch of KBL Mobile Plus in Mangaluru on Tuesday.

As part of its digital initiative, Karnataka Bank has launched an integrated mobile banking application called “KBL Mobile Plus” with enhanced features. The App will be available on Google Playstore and Apple App Store.

The salient features are biometric login, fund transfers, recharge and bill payments, debit card settings like blocking card, switch on/off and enabling and disabling international usage.

It also provides facilities of account view/statements, online FD/RD opening, KBL QR code for within bank transfer, online registration from KBL Suraksha, PMJDY, PMJJY. The App has been integrated with Bhim KBL UPI, KBL mPassbook, KBL Locator. The mCommerce for online ticket booking, food order etc, will be enabled soon.

One-stop solution

“KBL Mobile Plus” will be a one-stop solution for customers. To enhance the user experience, the Bank has integrated its existing standalone App’s like BHIM KBL UPI, KBL mPassbook, KBL Locator and mCommerce online into this app, where users can use just one App and get all the features.

“This App has many additional new age features,” said Mahabaleshwara M S, Managing Director and CEO of the Bank, on the occasion of launching the “KBL Mobile Plus ” in Mangaluru.

Daiwa Launches New Smart LED Televisions in Indian Market

Daiwa TV has expanded its portfolio with its most recent 98 cm (40 inch), D40B10 LED TV. It comes with a heap of functionalities, easy to use interface and future slim technology.

The 40 inch, Full HD LED TV comes with wireless Headphone Control. Additionally, its Eco Vision helps reduce power consumption for enhanced contrast and on-screen noise. With the screen resolution of HD 1366*768, one can enjoy the magic of cinema directly at the home. The smart TV comes with detailed picture quality with an A+ Grade panel and 16.7M Display Colours which makes every picture reel to real, the company said in a release.

The multi-display function and the cinema zoom feature gives a clear view. Extending the boundaries of innovation, the LED TV comes with Image freeze, 3D comb filter, and picture enhancement feature that further enhances the picture quality, the release added.

The Power Audio Volume system, integrated with 20 W Box Speaker that delivers a top-notch audio output. Additionally, one can also adjust the Bass, Treble and Volume using the Equalizer, giving one full access to control the sound desirable to the users. With the presence of several connectivity options including the 2 HDMI input ports, and 2 USB ports, the TV enables the users to connect to multiple media devices for a superior viewing experience.

The product, which is priced at Rs 15,490, is available with all ecommerce stores in India.

Features

- LED TV comes with Image freeze, 3D comb filter, and picture enhancement feature

- Integrated with 20 W Box Speaker

- Connectivity options include 2 HDMI input ports, and 2 USB ports

Quantum to Showcase High Performance In-Vehicle Storage for Autonomous Vehicle Development at CES 2019

Quantum Corp. will demonstrate its new Mobile Storage offering at CES 2019 in Las Vegas.  The ruggedized, in-vehicle storage solution is designed specifically for mobile and remote capture of video and other IoT sensor data. Quantum will host demonstrations and schedule meetings at the MGM Grand, Jan. 7-11, with partner AutonomouStuff.

[Click to tweet: Visit @QuantumCorp at #CES2019 to see how Mobile Storage completes an end-to-end storage solution designed for in-vehicle sensor data recording that enables autonomous research https://qntm.co/CES]

“Autonomous vehicle testing generates and captures massive amounts of data to be analysed in extremely short timeframes, and then preserved for long-term reference,” said Mark Pastor, Data Archive Product Director for Quantum. “With our Mobile Storage addition Quantum delivers a comprehensive infrastructure for capturing, storing, managing, protecting and accessing petabytes or exabytes of test and development data, creating an efficient method for transferring data from the vehicle to the analysis and development environment.”

Quantum Mobile Storage is designed for environments such as autonomous vehicle development, where a test vehicle can generate several terabytes of video, image and sensor data each day. It automates the process of offloading data to a StorNext high performance parallel file system. Quantum Mobile Storage enables a complete autonomous vehicle development workflow and has applications for other mobile storage environments such as rolling stock video on trains and buses, on-site video shoots, as well as military uses. Available in a variety of capacity and performance models, Quantum Mobile Storage has been designed specifically for mobile capture of 10s of TBs of rich data such as video, LIDAR, and RADAR and for fast transport and automated upload to the datacentre for analysis, editing, protection and archive.

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