Archive For The “Business” Category

OPPO Find N2 Flip brings flagship imaging performance to flip-style foldable form factor

New Delhi, March 6 : The OPPO Find N2 Flip has brought flagship-level cameras to the flip-style foldable form factor by combining high-resolution camera sensors with in-house 'MariSilicon X NPU' and Hasselblad's natural colour tones.

The 50MP Sony IMX890 main sensor boasts all-pixel omni-directional intelligent focusing so nearby subjects look sharp while backgrounds look soft and photos look textured, dynamic and detailed.



For 4K videography, the camera supports hardware-level DOL-HDR that simultaneously captures short and long-exposure photos.

In short-exposure shots, the bright parts are not over-exposed, whereas in long-exposure captures, the dark parts pack details.

These captures are combined by OPPO's MariSilicon X NPU for more detailed low-light videos.

The HDR Fusion inside the MariLumi ISP of the MariSilicon X NPU combines the long and short exposure frames to achieve a 4X higher dynamic range.



MariNeuro -- MariSilicon X's AI Noise Reduction (AINR) algorithms -- further reduce noise and increases image purity in each frame.

To further amplify the imaging credentials of the Find N2 Flip, OPPO has worked closely with legendary camera manufacturer, Hasselblad, to integrate the Hasselblad Natural Colour Solution into the camera system, said OPPO.

"The unique colour-processing system kicks into action the moment you press the shutter button to optimise colour accuracy, tone, and contrast to deliver consistent and accurate results," it added.



OPPO's partnership with Hasselblad runs deep with its XPAN mode that features a 65:24 high aspect ratio to capture the camera brand's unique retro style.



Furthermore, the Find N2 Flip recreates the Hasselblad shooting experience with a custom UI, shutter sound, and watermark.

Users can further refine photographs with three additional filters - Emerald, Radiance and Serenity.

The device comes with an 8MP ultra-wide Sony IMX355 rear snapper with an expansive field of view that is perfect for photos and videos.



For selfies, it also packs the 32MP Sony IMX709 front shooter. Users can unfold the Find N2 Flip and use the camera for FlexForm video calls.

The IMX709's RGBW pixel array boasts superior noise suppression. Its autofocus ensures crisp details while a wide field of view gets everyone in the frame when snapping a group selfie.

The OPPO Find N2 Flip is engineered to accurately render Indian skin tones and recreate bokeh flair in portrait videos.

The flip-style foldable's skin smoothening and beautification algorithms expertly distinguish individual parts of the image accurately and improve image quality.



The OPPO Find N2 Flip harnesses the power of the MediaTek Dimensity 9000+. The 4nm processor delivers supercharged CPU performance alongside a suite of enhancements like AI-enhanced Variable Rate Shading and Frame Rate smoothening to boost the gaming experience.



The MediaTek Dimensity 9000+ deploys a single 3.2GHz Cortex X2 core and pairs it with three 2.85GHz Cortex A710 cores and four Cortex A510 cores to smartly balance out high-end processing and all-day battery life through intelligent resource allocation.



The Find N2 Flip's Dimensity 9000+ chipset includes a 4X more efficient APU solution to improve short burst activities like high framerate gaming and HDR photography at night.



The MediaTek APU 580 works on isolated tasks or can work as a general processor to improve ISP, gaming, and the social media video-watching experience.



The Find N2 Flip combines the might of the Dimensity 9000+ chipset with OPPO's optimisations to deliver incredibly fast 44W SUPERVOOCTM charging.



A quick 15-minute top up is sufficient to power up to four hours of music streaming, an hour of social media browsing, and four hours of phone calls.



The operating system runs Android 13 and offers a variety of design-led changes to boost productivity.



The AI enhancements, built deep into ColorOS 13, now let users smartly manage meetings, optimise networks and handle distractions.



Similarly, users will find options to personalise the Find N2 Flip thanks to an improved Shelf feature that organises and displays key information, as well as tools and services that serve up ample opportunities for customisation.



ColorOS 13 lets users make their phone their own with a wide variety of widgets and deep Bitmoji integration -- both on the shelf and the cover display.



As a bonus, the OPPO Find N2 Flip will come with four years of Android and five years of security updates, informed the company.



--IANS

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Source: IANS

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IPL 2023: Faf du Plessis has turned himself into an attacking; dynamic batter at the top, says Graeme Smith

New Delhi, May 12 : With 576 runs in 11 innings at a strike rate of 157.8, there is no doubt that Royal Challengers Bangalore skipper Faf du Plessis has been the stand-out batter of IPL 2023.



In a batting line-up where Bangalore's batting has been hugely dependent on him, Virat Kohli and Glenn Maxwell, du Plessis being the upfront enforcer in power-play has been refreshing to witness, according to former South Africa skipper Graeme Smith.

"He's played so well and been great to watch.

He's really upped his aggression at the top of the order. He's 38 right now and is looking very fit and has managed to adapt and keep up with youngsters in terms of the way there is need to play.

We spoke about not having anchor batters, and he's turned himself into an attacking, dynamic batter at the top of the order," said Smith, an IPL expert for JioCinema, in a select virtual media interaction.

The statistics also back up du Plessis' transformation into an attacking batter in IPL 2023, especially in power-play.

In IPL 2022, his power-play strike-rate was only 104.68, but in the ongoing season, it has jumped to 169.93.

His middle-overs strike-rate in IPL 2023 is at 138.91, before it shoots up to 247.05 in death overs.

But what stands out as well in du Plessis' scintillating run of form is his improved strike-rate against spin, which is at 130.53 in IPL 2023, compared to 126.66 last year.

"Plus, he also has added consistency as well, which is terrific.

He's been great for RCB; plus his leadership has been good and brings a lot of calmness to the team. So, it's been terrific to watch him," added Smith.

Despite Du Plessis' playing the aggressor role against spinners, Kohli's slowdown post power-play hasn't been brushed under the carpet.

It is an area which has been well-documented, seen from Kohli striking at 108.08 against spinners in IPL 2023, bringing his role of being the anchor in the innings under scanner.

Smith feels if Bangalore find more support with the bat, then Kohli can look to up the ante, especially against spinners.

"There's a couple of things that standout for me.

The sort of Indian batters around Virat, you just have to look at stats of those who have 1000 runs for RCB, and it's way short.

They have struggled to find a number three batter despite trying few combinations and number five-six has been an area of weakness for them," he said.

"A lot of pressure is then put on Kohli, du Plessis and Glenn Maxwell to be the main consistent performers.

All three of them have had really good seasons so far and if RCB find some areas of support, maybe that can free up Virat more.

Against spin, we know Virat doesn't really sweep much, he plays generally down the ground.

You can probably set some fields and control his boundary count after the six overs and that's maybe an area that he can assess," he added.

Delhi Capitals head coach Ricky Ponting recently called anchor batters a dying breed in the shortest format.

As IPL 2023 records a plethora of 200+ totals, Smith believes the game is slowly starting to move on from anchoring the innings approach in T20 batting.

"Look, I agree with Ricky in terms of his sentiment.

The only thing I would add is conditions always need to be taken into account. Certainly in India, there is no place for the anchor batter, as seen from the scores in this year's IPL being high with impact players there and sometimes 215-220 has been needed on certain grounds," the former South African captain said.

"The way these games have changed is, powerplay is slightly more manageable because there are more fielders in the ring.

It's where the fielders go out and spinners come in, batters like Sky (Suryakumar Yadav) have really changed the game and are so dynamic that they score all around the ground.

They are able to sweep, hit over extra cover ? makes it extremely difficult to bowl to them and are mentally looking to take on the game all the time.

In India and pretty much around the world, certainly agree, especially with England internationally leading the way," he concluded.

--IANS

nr/ak.



Source: IANS

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Myntra launches AI-based personal style assistant ‘My Stylist’ that helps customers complete their look

New Delhi, May 18 : Myntra, Indias leading destination for fashion, beauty, and lifestyle, on Thursday introduced a revolutionary feature on the platform called 'My Stylist, an AI-powered end-to-end automated personal style guide for its customers.

This unique concept is set to revolutionise shopping for fashion and lifestyle at large, with the digital style assistant recommending the right outfits and suggesting a complete look to the users.



Ahead of the 18th edition of the highly-anticipated End of Reason Sale (EORS), its biannual fashion event, Myntra is all set to cater to the outfit styling aspirations of shoppers like never before and taking fashion to the next level with this next-gen product discovery and purchasing feature.



"The launch of 'My Stylist' takes our commitment to democratising fashion using technology, a notch higher! Powered by machine learning and AI-based technology, this first-of-its-kind innovation at scale in the fashion space in India, is poised to further take the customers' shopping experience to the next level by recommending looks with an understanding of fashion," said Raghu Krishnananda, Chief Product and Technology Officer, Myntra.

'My Stylist' has been created to tackle the daunting task of putting together the perfect outfit.



As styling requires a deep understanding of a broad range of properties, including colour, shape, pattern and fabric, along with awareness of current fashion trends and an individual's style preferences, to be able to get that perfect outfit, 'My Stylist' fulfils these requirements of customers in a way that is scalable, automated, customisable and in real-time.

'My Stylist' utilises AI to offer customers complete shoppable outfit recommendations based on four different factors -- uploaded images from their offline wardrobes, their purchase history on the app, browsing history on the app, and what's currently trending on the platform, thus giving instant access to styling options and enhancing their shopping experience, making it visual, fun and instantly gratifying.

The pioneering product has been developed in-house and will be unique to the platform, while also being a one-of-its-kind offering at this scale in the Indian e-commerce fashion ecosystem.



The feature throws recommendations from 4.5 lakh styles from the fashion and lifestyle categories currently, which includes all topwear, bottomwear, footwear and accessories.



Since the launch of the feature, 'My Stylist' has witnessed good adoption. It is currently the highest used feature on the floating action button or 'M-Explore' on the homepage of the app, with a high engagement rate and click-through rate (CTR) of over 65 per cent.



The company expects nearly 80 per cent of its customers to engage with recommendations from the 'My Stylist' feature on trial by the end of this year.

For customers who have shopped before on Myntra, My Stylist helps them find and shop for a complete look based on any apparel product they bought recently on the app, recently browsed products, or popular outfits on the platform based on which outfits are generating maximum engagement from users.



For new customers, the feature also enables them to upload images of any product from their offline wardrobe and get pairing ideas.

New and existing users can also play around with the feature by taking a picture or uploading an image from their phone gallery of any offline product from their wardrobe and checking out pairing ideas to complete an outfit.



The feature lets users 'shop the entire look' at the click of a button.

Myntra's in-house artificial intelligence (AI) technology, machine learning (ML) models and computer vision algorithms, along with the expertise of subject matter experts in curation and styling, is used to power My Stylist's 'Fashion Object Detection', 'Image Search', and 'Outfit Recommendations' features.



These aspects use an AI algorithm that taps into the platform's catalogue data via deep convolutional neural networks and is also trained using a Bi-LTSM model that expands the dataset from Myntra's catalogue, which enables the feature to handle a high volume of requests.

The feature currently covers the fashion and lifestyle segments, with plans in the pipeline to include other categories including beauty and an increased number of styles as well.



Myntra also plans to include elements like 'Your Digital Wardrobe' and 'Save the Look', along with additional customizable user options, which consider factors like trends, age, gender, body type, and personal style, in subsequent phases.

Users can access 'My Stylist' via a floating action button on Myntra's homepage, with banners and picture-in-picture videos informing them about the same.

--IANS

shs/na.



Source: IANS

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Myntra’s EORS-18 goes live on June 1, offering 20 lakh styles across over 6,000 brands

New Delhi, May 30 : Myntra, one of India's leading fashion, beauty and lifestyle destinations, said on Tuesday it is on track to welcome 15 million new users from non-metros on the app as the 18th edition of Myntra's biannual End of Reason Sale (EORS) is all set to enthrall millions in the country, from June 1, with more than 20 lakh fashion, beauty and lifestyle products from over 6,000 leading international, domestic and D2C brands.

The company is geared to handle 9 lakh concurrent users at peak.

Myntra's over 17,000 MENSA network of Kirana partners will play an important role in enabling the seamless delivery of orders across the country.



"Our effort has been to ensure every customer cohort, be it GenZ or millennials, or our customers from T2 (and) 3 cities, or beauty enthusiasts get enthralled by unmatched offers and have a delightful shopping experience through the pioneering tech enhancements and features on Myntra," said Nandita Sinha, CEO, Myntra.

"The presence of superstars like Shah Rukh in our EORS films further builds resonance with this shopping extravaganza across age groups and geographies," she added.

Categories that are expected to see heightened traction from consumers during EORS 18 include -- Men's Casual Wear, Women's Ethnic, Women's Western wear, Beauty and Personal Care, Watches and Wearables, Home and Furnishing, Summer Essentials, Work wear and Kids wear.



The platform has also amped up its categories like sports footwear, home and furnishing, and accessories for customers to explore new selections in the lifestyle space.



As a part of 'EORS Specials', Myntra onboarded Converse Footwear ahead of EORS, and scaled up collections from Nike Jordans, Air Force, and Dunks.

Customers will also be able to buy unique celebrity lines such as Puma X Anuska, Club Originals, Tapsee X Reebok, and Puma colour-blocked styles.



In addition, Myntra has trendy selections from brands like FCUK, bebe, Kenneth Cole, and BoohooMAN that are going to win hearts of fashion-forward customers.

Some of the other homegrown brands from House of Brands that will woo customers are HRX, Anouk, and Roadster, among others.



With 2 lakh styles in the home section, EORS will give access to customers with the best of collections across home furnishing, kitchen, and decor from leading brands like Spaces, Trident, D Decor, Raymond, Milton, Cello, Wonderchef, Home Center, H (and) M, Home Town, Marks (and) Spencer, JC Collection, etc.



EORS 18 will have a whopping 20,000+ products in the watches and wearables category from across 300+ leading global, domestic, and fashion brands.

CK, Hugo, Boss, Lacoste, and Titan are in the watches category while wearable brands like Oneplus, Nothing, and boAt among many others are expected to drive demand for the category during the event.



Moreover, the beauty and personal care category will showcase over 83,000 products across 1,450+ leading global, domestic, and D2C brands.

Lakme, Etude, Good Glam, Clinique, MAC, Arata, and Pilgrim are some of the brands that will have compelling offers at play this EORS 18.

EORS 18 will present more than 1.2 lakh styles from over 1,000 ethnic wear brands with a focus on driving ethnic fashion for all through differentiated on-app experiences such as Runway Icons and FWD and offer never seen before the value to customers.



Customers will be delighted with the offerings on kurtas and sarees by brands like Vishudh, Pantaloons, Pothys, and Kalamandir Sarees as well as designer labels like Koskii, Ambraee, Rustorange, and Aachho, among others.



Young shoppers will be able to shop from Myntra's recently launched fwd, a first-of-its-kind differentiated in-app holistic shopping experience with a selection comprising 65,000+ styles from over 500 leading brands like Hersheinbox, bostreet, Sassafras, Street 9, and TokyoTalkies, among others.



Myntra expects to add 10 million Gen-Zers to its customer base by the next 2 years, adding to its 8.6 million strong Gen-Z customers base from 2022.



EORS 18 will also have a selection of 1 lakh+ Styles from 200+ homegrown D2C brands with unique value propositions in mass premium and premium segments.



Some of the leading brands in this segment are The Souled store, Rare Rabbit, Damensch, Achho, Suta, Minimalist, Sugar, and Arata, among many others.



With Shah Rukh Khan as the face of EROS-18, Myntra aims to tap into his larger-than-life personality as one of the biggest film stars appreciated and loved across the country.



On the social commerce front, there are 100+ live sessions planned on Myntra's M-Live which will be hosted by India's biggest social media stars, and widely-admired content creators, such as Varun Sood, Baseer Ali, Akash Choudhary, Ritvi Shah, and Gaurav Kumar, among others.



Further, grand opening offers will be valid from 00 hours to 2 a.m. on June 1, and to cater demands of millions of customers, they will get delightful offers running every hour.

Customers will also be able to enjoy selections from 30 new launches from leading international, domestic, and D2C brands at the End of Reason Sale.

There will be daily limited-time deals throughout the day for the best value in Deal 'O Clock, Happy Hour, jackpot deals, and more.

Further, the bank offers that customers can avail during EORS 18 include -- 10 per cent discount on ICICI and Kotak Bank Offer Callout (Combined Strip).



Under ICICI Bank Individual Strip, users will get a 10 per cent instant discount on ICICI Bank credit and debit cards.

Under Kotak Bank Individual Strip, users will get a 10 per cent instant discount on Kotak credit and debit cards.

Those who use Paytm, they will get assured cashback on Paytm Wallet and Postpaid, said the company.

--IANS

shs/na.



Source: IANS

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Myntra Beauty showcases 85K products across 1,450 brands this EORS-18, selection up by 100%

Bengaluru, June 2 : With the 18th edition of Myntra's flagship End of Reason Sale (EORS) underway, the platform's Beauty and Personal Care (BPC) category continues to witness strong demand with shoppers propelled by its eclectic mix of leading domestic, D2C, and global brands aided by an unparalleled tech-first shopping experience.



With over 85,000 products across more than 1,450 brands, Myntra has ramped up its selection by 100 per cent over the previous summer edition of the EORS.

So far this year, Myntra has also registered a 90 per cent YoY growth in demand over the previous year, steadily becoming one of the go-to destinations to access authentic premium and luxury BPC brands for these cohorts.



The addition of popular brands like Lovechild by Masaba, Olaplex, NYX Professional Makeup, and Sebastian Professional have enhanced stickiness for the platform with new customers coming in from both metros and non-metros.

Some of the sought-after products in the segment include Lipsticks, Foundations, Sunscreens, Hair Straighteners, Trimmers and Deodorants, among others, with demand for products like sunscreens, hair straighteners, and trimmers, having grown considerably in the last year.

Additionally, skinification of makeup, science and performance based skincare, natural scalp care solutions, and men's grooming have emerged as strong trends that continue to be a hit among shoppers.

Some of the early trends we are witnessing in EORS-18 include brands such as Maybelline, MyGlamm, Clinique, TAC, Pilgrim, Lakme, Nivea, Renee Cosmetics and Kama Ayurveda are seeing demand with shoppers.

Myntra Beauty also saw traction on products like Kajal, lipsticks moisturizer, sunscreen, perfume, body lotion and hair appliances, among others.



This edition of EORS has an array of never-before offers at play across a bevy of brands, some of them to look out for include ?99 offers by Pilgrim and Arata, lipsticks by My Glamm and Renee, and Kajal by select brands at super-accessible price points.



Additionally, key offers will be presented to shoppers from brands, with BOGO by Colorbar, Biotique and Nivea offering up to 60 per cent off, the iconic Dyson Air Wrap will be available for Rs 41,900 (MRP Rs 47,900), and the newly-launched NYX Professional Makeup may have up to 30 per cent off along with a special gift on select purchases.



Popular brands like Etude, Kama Ayurveda, Guess 1981, and MAC may also have up to 20 per cent off.

Myntra Insiders, part of the platform's loyalty programme, can look forward to an additional 10 per cent off on select constructs.

Other exciting brands on offer include Maybelline, Dove, Tresemme, Wow Skin Science, Forest Essentials, Phillips, Dyson, Pilgrim, and The Moms Co, among others.

In an unmatched association with Dyson, shoppers can also look forward to the Gift Edition of the Dyson Airwrap Hair Multi-Styler, Vinca Blue (and) Rose edition, this EORS-18.

The Airwrap available only on Myntra comes with 6 attachments and a gift box that encases it.

The attachments include the Firm Smoothing Brush - which helps smooth frizz-prone hair using firm bristles, the 30mm long air wrap barrel, which helps create voluminous curls for long and chest-length hair, Soft Smoothing Brush, which shapes fine hair with increased control, and the Round Volumizing Brush which directs air deep into the hair to give body, creating tension to shape the hair as it dries.

Myntra's cutting-edge tech-enabled integrations continue to fuel the demand of the BPC category, with features like the Virtual Try-On, Product Finder, AI Skin (and) Hair Analyzer, enabling shoppers to find the right shade of lipstick to match their preferences and Hair (and) Skin Analyser allowing users to find the perfect products best-suited to their needs.



Myntra's social commerce verticals will also be leveraged extensively by some of the popular beauty and personal care brands in building salience including Lakme, Olay, Man's Company, Nivea and Perfumers Club, among others.



Some of India's leading influencers will be hosting 30 beauty and personal care lives sessions through EORS-18, to enhance the shopping experience for its patrons.

The nation's favourite creators and influencers such as Simmy Goraya, Sone Kanwar, Anmol Bhatia, Arushi Oswal, Swagata Dev and Aashima Makhija will be a few among those sharing styling tips, make-up hacks, and expert insights in the M-Lives.

--IANS

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Source: IANS

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Glamyo Health founders plan to flee, declare bankruptcy: Sacked employee in FIR

New Delhi, June 2 : Healthtech platform Glamyo Health has laid off at least 160 employees, has not paid workers over the last few months, and is allegedly planning to file for bankruptcy soon, according to an FIR filed by an impacted employee here.

Filed at the Barakhamba Police Station in the capital and confirmed by police officials to IANS, the complaint alleged that Glamyo's founders Archit Garg and Preet Pal Thakur "expressed intent" to leave India by June 4 after firing all employees and winding up operations.

YourStory was first to report about the complaint against Glamyo Health.

The FIR, filed by the employee on behalf of 160 laid-off workers, alleged that they were sacked without any prior notice or given clarity on full and final settlements.

It claimed that Glamyo Health delayed salary payments "several times" over the last few months that also impacted doctors on the payrolls.

According to the complaint, the surgery care platform is soon planning to file for bankruptcy.

It further stated that the startup earns over Rs 5 crore in revenue each month, being "pocketed by the founders as personal gains".

Glamyo Health was yet to comment on the complaint filed against them.

Meanwhile, the affected employees organised a protest at the New Delhi office of the healthtech startup on May 31 and June 1.

Backed by investors like Agility Ventures, Anicut Capital and LetsVenture, Glamyo raised more than (Dollar) 7 million in funding to date.

It was aiming to further raise up to (Dollar) 6 million this year but could not succeed, according to reports.

The startup last raised (Dollar) 3 million in September 2021.

Glamyo Health ties up with hospitals and clinics to offer elective surgeries and cosmetic procedures, and also hires doctors and medical coordinators.

--IANS

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Source: IANS

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Asia’s largest fish market to soon come up in UP’s Chandauli

Varanasi (UP), June 4 : Chandauli district in eastern Uttar Pradesh will soon have Asia's largest fish market, the construction of which will be completed by July next year.

Sanjay Nishad, Uttar Pradesh minister for fisheries, said that with the construction of the state-of-the-art wholesale fish market in Chandauli, about 1,500 people will get direct and indirect employment opportunities.

The minister said that around 75,000 metric tonnes of fish will be traded annually if the fish market is operated at full capacity.

The Modi government's tenure has been dedicated to good governance and welfare of the poor, the minister said.

Many important steps have been taken for the all-round welfare of the fishermen community under the current dispensation, he added.

He also said the fisheries made a significant contribution to India's GDP growth rate.

"The fishermen's welfare fund will be used for the community.

Previous governments considered the fishermen community a vote bank but did not work for their welfare," he said.

The minister who heads the Nishad party, an ally of the BJP in Uttar Pradesh, also said that the installation of a 56-feet statue of Lord Ram and Nishad Raj in Prayagraj would be done soon.

The decision to install a statue each of Nishad Raj in Ayodhya on the banks of Sarayu and at Telianala Ghat on the Ganga banks in Varanasi was also a matter of pride for the Nishad community, he said.

--IANS

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Source: IANS

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Govt engaging with Vedanta to facilitate its residual stake sale in BALCO

New Delhi, June 4 : Government plans to sell a part of its 49 per cent stake in Bharat Aluminium Company Limited (BALCO), for which it is learnt to have asked its main promoter Vedanta, to take back an ongoing arbitration case.

Sources aware of the development said that the Mines Ministry is said to have requested the Department of Investment and Public Asset Management (DIPAM) to engage with Vedanta to withdraw the arbitration case, as the government plans to take the initial public offer (IPO) route to sell a part of its 49 per cent stake in BALCO.

Mines Ministry is the 49 per cent stakeholder in BALCO and sources informed that DIPAM has held initial discussions with Vedanta to withdraw the arbitration case, which would pave the way for stock exchange listing of the company.

In 2009, BALCO had filed an arbitration case against the government over a valuation dispute of the residual stake.

Sources further added that it is up to DIPAM to decide how much of the government's 49 per cent stake can be sold.

It could be a residual portion or a major part of it too, a source told IANS.

Though initial discussions have taken place between DIPAM and Vedanta over withdrawal of the arbitration case, sources said that detailed discussions are likely to take place requesting the promoter to withdraw the case, if the sale of the government's residual stake is to be taken forward.

In 2001, government had disinvested 51 per cent shares of BALCO to Sterlite Industries Limited, a subsidiary of Vedanta Limited.

Major operations of BALCO are in the town of Korba in Chhattisgarh, whereas its mines supplying high grade Bauxite are situated at Kawardha and Mainpat in the same state.

--IANS

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Source: IANS

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Apt time to address governance gaps in banks, says RBI deputy governor

New Delhi, June 5 : Time is perhaps right to address gaps in governance frameworks of banks, a top RBI official has said, amid reports of lapses by various banks, which have invited action by the central bank.

"The banking sector in India at this juncture is sound, resilient, and financially healthy.

So, the time is perhaps right to improve the plumbing by addressing the gaps in governance frameworks, assurance functions and strategise for better times ahead," RBI's deputy governor Rajeshwar Rao said.

He was addressing the conference of directors of banks organised by the RBI for public sector banks, recently.

Rao's comments have come just days after RBI governor Shaktikanta Das had said that the central bank had found some gaps in banks' corporate governance despite issuing guidelines on the matter.

He had advised that banks' boards and management should not allow such gaps to creep in.

These views by the central bank's top brass have come when quite a few governance lapses have been reported by various banks, attracting action by the RBI.

Rao further said in his address that bank boards often do not pay attention to matters related to conduct.

Pointing out that customer service, customer conduct and ethical employee behaviour are key in banks, Rao said banks' boards should pay close attention to these aspects.

"Good or rather best practices in these areas are the key soft pillars which build the edifice of a successful financial institution, more so in these challenging times," he said.

--IANS

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Source: IANS

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Reliance Foundation announces 10-point relief measures for Odisha train accident victims

New Delhi, June 5 : "It is with immense sorrow and a heavy heart that I extend my deepest condolences on behalf of Reliance Foundation to the families who have lost their loved ones in the tragic train accident in Odisha.

As soon as we learnt about the accident, our specialized disaster management team was immediately deployed to facilitate the rescue effort on ground.

Our team continues to provide round-the-clock aid and assistance to the injured," Nita Ambani, Founder (and) Chairperson, Reliance Foundation (RF), said

"While we cannot undo the suffering caused by the tragedy, we are fully committed to helping the bereaved families rebuild their lives and prepare for the future.

With this as our solemn mission, we are announcing a 10-point programme to offer our unwavering support to those affected by this unfortunate incident.

Our Foundation, along with the extended Reliance family, stands in firm solidarity with the affected communities during this difficult time", Nita Ambani stated.



Below are the 10-point relief measures that will support the people affected by the tragedy, both immediately and on a long-term basis:

1.

Free fuel for ambulances dealing with the disaster through Jio-BP network.

2. Provision of free ration supplies, including flour, sugar, dal, rice, salt and cooking oil, for the next six months to affected families through Reliance stores.

3.

Free medicines for injured to support their immediate recovery needs; medical treatment for those needing hospitalization due to the accident.

4.

Counselling services for emotional and psychosocial support.

5. Providing employment opportunities through Jio and Reliance Retail to one family member of the deceased, as needed.

6.

Provision of support aids to people with disabilities, including wheelchairs, artificial limbs.

7.

Specialist skill training for those impacted to find new employment opportunities.

8. Microfinance and training opportunities for women who may have lost their sole earning family member

9.

Provide livestock such as cow, buffalo, goat, poultry for alternate livelihood support to rural families impacted by the accident.

10.

Free mobile connectivity to a family member of bereaved for a year to enable them to rebuild their livelihood.

Present at Balasore since the accident took place, Reliance Foundation's specialist disaster management team closely coordinated with the Emergency Section, Collectorate, Balasore, and National Disaster Response Force.

Helping passengers quickly evacuate coaches and rushing injured to emergency vehicles, to immediately make available masks, gloves, ORS, bedsheets, lighting and other necessities for rescue at the site of accident, Reliance Foundation volunteers also involved in the rescue making gas cutters available to evacuate passengers trapped in coaches; also mobilized other volunteers from nearby communities for the efforts.

To ensure that rescue efforts continued uninterrupted, Reliance Foundation identified and networked with youth volunteers from the area to quickly prepare food for about 1,200 people.

Meals were provided to rescue personnel, much needed for the personnel, and for families of those affected, who arrived at the accident site.

Adequate drinking water was also ensured.

For more than a decade, Reliance Foundation's disaster management team has worked towards empowering communities to be able to respond to disasters, whether natural or otherwise, and become resilient.

Reliance Foundation works with communities training youth in disaster response, provides advisories to guide communities in actioning important measures before, during and after disasters.

Through the years, Reliance Foundation has supported communities following floods, cyclones, earthquakes, during droughts and extensively during the Covid-19 pandemic through multiple initiatives aimed at ensuring relief and enabling rebuilding of lives and livelihoods, supporting over 21 million people through over 48 disasters.

Reliance Foundation has stood with the nation through every time of need and stands in solidarity, now, committed to extending its support to the families affected by this tragedy.

--IANS

san/uk/.



Source: IANS

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