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The off-balance sheet borrowings incurred after fiscal year 2021 will continue to be adjusted over the next three financial years, said one of the sources. However, from here on, any new off-balance sheet borrowings will be adjusted in the same year or the year after they have been incurred, the source added. In one year, the adjustment from borrowing requirements will not be more than 0.25% of gross state domestic product, said a the second source. Reuters GraphicsLower market borrowing by state governments was one factor that helped keep federal government bond yields in check in 2022-2023. State governments also had high cash balances at the start of the previous year, which helped bring down borrowings, said ICRA.

☆ Ex-Intel chief architect explores data center deals for AI startup in India
▼ + stars: | 2023-04-05 | by ( Chavi Mehta | ) www.reuters.com time to read: +2 min

BENGALURU, April 5 (Reuters) - Intel Corp's (INTC.O) former chief architect Raja Koduri is in talks with Hiranandani-backed data center operator Yotta for a deal for his generative artificial intelligence startup, which he said will have a big presence in India. Koduri, who has worked on nearly two dozen generations of computer graphics chip, plans to build local data centers to ease the access to massive computing power needed for generative AI tools. Generative AI refers to technology such as ChatGPT that can use prompts to whip up haikus, essays and images. The southern state of Karnataka and Telangana have been "very supportive", he said, adding that subsidies on electricity will be crucial as data centers are power guzzlers. He is also joining the board of AI chip startup Tenstorrent, led by veteran chip architect Jim Keller, who led the design of Tesla's (TSLA.O) self-driving chip in 2016.

The opposition has come together after this month's conviction of opposition leader Rahul Gandhi of the Congress party on a charge of defamation and his disqualification from parliament. Opposition politicians say Gandhi's shock disqualification, and possible jail time, is the latest evidence of the Modi government's strongarm tactics and follows investigations and legal troubles faced in recent months by other opposition parties. A day after Gandhi's conviction, 14 political parties jointly petitioned the Supreme Court, saying opposition groups were being selectively targeted by federal investigative agencies. "The Modi government's fascist steps have given a new chance for opposition parties to be united," Trinamool MP Sukhendu Sekhar Roy, told Reuters. "Anti Modi-ism or anti BJP-ism cannot be the glue that brings together disparate opposition parties with different aspirations and ambitions and positions," said Nalin Kohli, the BJP's national spokesperson.

NEW DELHI, March 27 (Reuters) - Indian banks must give defaulters an opportunity to be heard before they classify a loan account as fraud, the Supreme Court ruled on Monday. Banks cannot unilaterally declare an account as fraud without providing the defaulter the right to be heard, a top court bench led by Chief Justice DY Chandrachud said. However, there is no such requirement before registering a first information report (FIR) to declare a loan account as fraud, the bench observed. The apex court was examining judgements by the Telangana High Court and Gujarat High Court on the Reserve Bank of India (Frauds Classification and Reporting by Commercial Banks and Select Fls Directions 2016) master circular. Telangana High Court had ruled that not granting the right to be heard infringes on the borrowers' constitutional right.

☆ Exclusive: Apple supplier Foxconn wins AirPod order, plans $200 mln factory in India - source
▼ + stars: | 2023-03-16 | by ( Yimou Lee | ) www.reuters.com time to read: +4 min

One source said Foxconn will invest more than $200 million in the new India AirPod plant in the southern Indian state of Telangana. The decision to set up production in India was requested by Apple, according to the source. Apple and its key suppliers have been shifting production away from China, where strict COVID-19 curbs disrupted Foxconn's biggest iPhone factory last year. Foxconn said on Wednesday it would ramp up investment outside China to meet customer demand and lower its reliance on China for production. It was not immediately clear whether Foxconn's production plan would have impact on current AirPod suppliers, including Luxshare Precision Industry (002475.SZ).

☆ Apple supplier Foxconn wins AirPod order, plans $200 million factory in India, sources say
▼ + stars: | 2023-03-16 | by ( ) www.cnbc.com time to read: +1 min

Taiwanese contract manufacturer Foxconn has won an order to make AirPods for Apple and plans to build a factory in India to produce the wireless earphones, two people with direct knowledge of the matter told Reuters. The deal will see Foxconn, the world's largest contract electronics maker and assembler of around 70% of all iPhones, become an AirPod supplier for the first time and underlines efforts by the key Apple supplier to further diversify production away from China. One source said Foxconn will invest more than $200 million in the new India AirPod plant in the southern Indian state of Telangana. It wasn't immediately clear how much the AirPod order would be worth. The decision to set up production in India was requested by Apple, according to the source.

☆ Davos: India flexes its muscle as China's star fades
▼ + stars: | 2023-01-19 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

In 2023, as global recession fears persist, the country is expected to log the best performance of any major economy. An Invest India banner hanging from a building ahead of the World Economic Forum in Davos, Switzerland, on Monday, Jan. 16. India is also due to displace its powerful neighbor as the world’s most populous country this year. They’re a substantial asset — if India’s economy can create enough jobs. “The world needs resilience,” Tata Sons Chairman Natarajan Chandrasekaran told a Davos panel.

☆ What to know about 'Naatu Naatu,' the song that beat out Taylor Swift and Lady Gaga at Golden Globes
▼ + stars: | 2023-01-11 | by ( Brahmjot Kaur | ) www.nbcnews.com time to read: +5 min

“Naatu Naatu,” a song from the hit Telugu-language film “RRR,” was the unexpected and historic winner for best original song at the Golden Globes Tuesday, beating out Taylor Swift, Lady Gaga and Rihanna. Majumdar said she was surprised but thrilled “Naatu Naatu” took home the award. “Earlier, that was seen as a feature that was strange about Indian cinema. Keeravani accepts the Best Original Song award for "Naatu Naatu" from "RRR" during the Golden Globe Awards in Beverly Hills, Calif., on Tuesday. “When I envisioned the ‘Naatu Naatu’ song,” Rajamouli told Variety.

☆ Tragedie pe un stadion din India. Cel puțin o sută de oameni au fost răniţi după ce tribuna în care se aflau s-a prăbuşit (VIDEO)
▼ + stars: | 2021-03-23 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: 1 min

Tragedie pe un stadion din statul Telangana, India. În jur de o sută de oameni au fost răniţi după ce tribuna în care se aflau s-a prăbuşit. Incidentul s-a produs în timpul Campionatului Naţional de Kabaddi şi a fost surprins de un spectator. Potrivit informaţiilor preliminare, tribuna a cedat din cauza suprasolicitării. Acolo se aflau 1500 de oameni, ceea ce e cu mult mai mult decât era prevăzut.

Organizations: Naţional, ambulanţe Locations: Telangana, India

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