StartupTalky

Tag: #news

  • Proptech Startup ‘Dezime’ Secures INR 2.5 crore Pre-Seed Funding from Strategic Partners and Angels

    Dezime, a tech-enabled interior solutions company revolutionising the design and build space with proprietary deep tech and AI, has successfully raised INR 2.5 crore pre-seed funding and secured strategic partnerships. The round includes investments from Rishi Kajaria, from the renowned Kajaria Tiles family, and Rishi Gulati of Chalo Holdings. This strategic backing strengthens Dezime’s mission to integrate technology across every stage of the interior design journey, delivering highly personalised experiences with a sharp focus on expanding in Delhi NCR.

    The newly raised capital will be used to enhance Dezime’s technology stack, improve customer experience, and accelerate market expansion across Delhi NCR. The company plans to scale operations, offering homeowners a seamless, efficient, and personalised design experience powered by real-time 3D visualisation and AI-driven solutions.

    Founded by industry veterans Shubham Jangir, Rahul Jangir, and Sarthak Rohilla, Dezime aims to redefine the design and building process. Their platform offers instant cost estimates and real-time 3D visualisation, significantly reducing the design turnaround time. By making design instantaneous, Dezime empowers customers with faster decision-making and better material selection, ultimately enabling more time for superior execution and finish quality.

    Beyond key investors, Dezime has forged partnerships with multiple industry leaders, including top material suppliers, premium furniture brands, and home automation companies. These collaborations enable Dezime to deliver high-quality, end-to-end interior solutions, blending aesthetics with functionality to create bespoke living spaces.

    With this fresh round of funding and strategic partnerships, Dezime is set to lead the proptech-driven transformation of the interior design industry, making home design faster, smarter, and more customer-centric.

    About Dezime​

    Dezime is a tech-driven interior solutions company based in Gurugram, Haryana, India. Founded in 2023, it uses AI and deep tech to make home design faster and easier. Dezime offers instant cost estimates and real-time 3D visualisation, helping homeowners make quick and informed decisions.

    The company partners with top material suppliers, furniture brands, and home automation firms to deliver seamless, end-to-end solutions. With a strong focus on Delhi NCR, Dezime aims to blend technology with creativity, making interior design more efficient and personalised.

    Career Options in Design Industry in India
    The design industry in India is growing at the rate of 25%. Here are some of career options if you want to pursue Design Industry.
    StartupTalkyPV Vyshnavi

  • Beams Fintech Fund Participates in Infinity Fincorp’s $40 Million Funding Round

    Beams Fintech Fund, a leading growth-stage private equity fund focused on Fintech and Financial Services, has announced its sixth investment in Infinity Fincorp Solutions (“Infinity Fincorp”). Beams has participated as part of their Series A extension of a $40 million funding round. Infinity Fincorp, backed by True North LLP Private Equity Fund, has, in the near past, secured equity investments from renowned investors, including Jungle Ventures and Archerman Capital. 

    Led by Shrikant Ravalkar, Founder, MD & CEO, Infinity Fincorp Solutions, which operates in the micro-LAP (Loan Against Property) financing space, providing INR 3-5 lakh loans for underserved micro-entrepreneurs like tea shop owners, vegetable vendors, small machine enterprises, restaurants, provision stores and many more businesses that are key to India’s economy. Infinity Fincorp is focused on Tier 3 towns across Andhra Pradesh, Tamil Nadu, Telangana, Madhya Pradesh, and Rajasthan. The Company has a robust presence in southern India’s Micro LAP market along with a proven track record of delivering high growth and high ROA/ROE. Infinity will use the capital to expand the loan book & establish a deeper presence across the six states.

    The overall Micro LAP segment is expected to grow at a CAGR of 15-20% over the next 5-10 years, driven by the formalisation of the economy, a rise in income levels and improving credit penetration in the country. The segment will further benefit the most from the digitization of land records, further adoption of account aggregators and improvement in underwriting with the adoption of AI.  

    Headquartered in Mumbai, India and having a pan-India presence in 127 branches across 8 states, Infinity Fincorp has a loan book of INR 1100+ crores as of January 2025 and is projected to close FY2025 at INR 1250 crores, marking a growth of 67% in one year. Owing to its significant size (INR 1000 cr+), Infinity Fincorp is classified as Middle Layer NBFC as against Base Layer earlier.

    Sagar Agarwal, Founder & Partner at Beams Fintech Fund, commented: “The MSME credit gap in India remains a significant untapped opportunity, estimated at ~INR 25.8 trillion. Micro LAP is one of the fastest growing spaces within the NBFC segment given the credit demand from 6 crores+ MSMEs towards growing their businesses. With the micro-LAP segment expected to grow at a CAGR of 15-20% over the next 5-10 years, we believe Infinity Fincorp has the potential be a category leader in the Micro-LAP segment. Under Shrikant’s leadership, the company has grown 3x since FY 2022 while maintaining strong asset quality and risk management. This investment diversifies our financial services portfolio without competing with our other NBFC investments”

    Shrikant Ravalkar, Founder, MD & CEO of Infinity Fincorp Solutions, added: “We are extremely grateful to all our investors who are supporting us in our mission to serve the vastly underserved MSME sector supported by technology-led efficiencies. We also would like to extend our heartfelt gratitude to Beams Fintech Fund, who believed in our potential and has agreed to support our mission.

    This fund raise significantly bolsters our capital position with Infinity’s net worth now above INR 600 crores and capital adequacy is 50%, much above the regulatory requirement of 15%.

    Aided by the capital raise, our loan AUM crossed the INR 1,000 crore milestone. This also means that now we are classified as NBFC Middle Layer by RBI a huge testament to our teams’ humongous efforts in the past years.

    I express my heartfelt gratitude to all our stakeholders who have been a key cog in our growth story.

    We remain committed to serving the vast untapped MSME landscape of India which has a potential credit gap of INR 78 lakh crore; with our in-house capabilities to serve the Indian MSMEs and access to growth capital from our marquee investors, we will deepen our footprint and accelerate our mission of extending credit to MSMEs across the country.” 

    About Beams Fintech Fund

    Beams Fintech Fund is a mid-market private equity fund managing an AUM of INR 900 crores focused on investing in category-leading Fintech, Financial Services, and B2B SaaS companies. With a diversified portfolio of high-growth businesses, Beams partners with visionary founders to drive scale, profitability, and long-term value creation.

    A Guide to Legal Compliance for Fintech Startups in India
    The Indian FinTech market is expected to reach $1 Trillion by 2030. Here’s a complete guide to the laws & regulations for fintech startups in India
    StartupTalkyKinnary Nensee

  • In March, GST Collection Increased 9.9% Year Over Year to INR 1.96 Lakh Cr

    The amount collected from the Goods and Services Tax (GST) in March 2025 has increased to INR 1.96 lakh crore, marking a noteworthy milestone. This represents a remarkable 9.9% growth from the previous year. Hence, this growth highlights the nation’s growing economic activity. The increase in collections indicates a strong consumer and business consumption pattern and is a good sign of the state of the economy. This amount is much more than the INR 1.62 trillion collected the previous month, which already showed an 8.1% year-over-year increase. Breaking down the components of the GST, the central GST collections amounted to INR 38,100 crore, while the state GST collections stood at INR  49,900 crore.

    The integrated GST, which includes taxes on the inter-state supply of goods and services, reached INR 95,900 crore. Additionally, the GST cess, which is levied on the supply of certain goods and services to compensate for revenue loss to states, came in at INR 12,300 crore. These figures showcase the widespread participation in the GST system by both consumers and enterprises, reflecting the system’s maturity and its role as a stable revenue source for the government.

    Gujarat Leads the Race

    In comparison to the 9.1% growth observed during the April to December period, the cumulative rise in GST collections from April 2024 to March 2025 was 9.4% year over year, indicating a modest increase. Several states and union territories have shown notable growth rates throughout this time. In FY 2024-25, for example, Gujarat’s GST earnings increased by 14% over the previous fiscal year to INR 73,281 crore. This growth is significantly higher than the growth rate for the country as a whole. This performance demonstrates how Gujarat’s effective tax-collecting systems contribute significantly to the national GDP.  The double-digit surge in GST collections in a number of states and union territories illustrates the regional diversity of economic activity. Significant year-over-year growth was observed in Tripura, Bihar, Sikkim, Meghalaya, and the Andaman and Nicobar Islands, with respective growth rates of 32%, 30%, 30%, 26%, and 60%.

     Various numbers demonstrate the increasing investments and economic activity in various sectors, which enhances overall GST collection. However, there were reductions in areas like Jammu and Kashmir, Himachal Pradesh, Manipur, Dadra and Nagar Haveli, and Daman and Diu. This downfall clearly suggests difficulties that might have been brought on by regional economic circumstances or administrative obstacles.

    Growth of Domestic Refunds

    Improvements in the tax administration system are demonstrated by the 2.8% increase in domestic refunds. This was followed by a significant 41.2% increase in total refunds, which included an astounding 201.9% year-over-year boost from imports. Refund processing efficiency may promote greater adherence to and involvement in the GST structure. The government is making constant efforts to simplify tax administration and enable more seamless commercial transactions. This vision was clearly reflected in the overall refund rise from April to March in FY25, which was 16.4% year over year and totalled INR 2.52 trillion. These changes point to a consistent course for improving India’s tax system’s effectiveness, which will benefit both the government and taxpayers.

  • Five Masters’ Union Startups Feature on Shark Tank India; Project Clay Secures INR 15 Lakh Deal from Namita Thapar

    • Project Clay Secures Funding from Namita Thapar of INR 15 lakh for 10% equity
    • HiveSchool received transformative advice from Aman Gupta and took sales education offline

    Masters’ Union, the Gurugram-based new-age institution renowned for its industry-driven and practitioner-led approach to management and engineering education, has achieved a remarkable milestone—five student-founded startups from its community have been featured on Shark Tank India this season. This accomplishment underscores the institution’s commitment to fostering real-world entrepreneurship through its innovative, hands-on learning model.​

    Project Clay, a mentorship platform connecting high school students with young professionals, secured funding of INR 15 lakh for a 10% equity stake from Namita Thapar. This investment highlights the platform’s potential to revolutionise career guidance for students.​ Another standout venture, HiveSchool, specialising in sales training, received strategic advice from Aman Gupta to take their program offline. Demonstrating agility, HiveSchool launched India’s first dedicated offline business school for sales education even before their episode aired, reflecting their commitment to addressing industry needs promptly.​

    The five Masters’ Union startups featured on Shark Tank India represent a diverse array of industries, showcasing the breadth of innovation within the community:​

    • Project Clay – A mentorship platform connecting high school students with young professionals to provide real-world career guidance.​
    • HiveSchool – A sales school equipping students with practical training and industry exposure.​
    • MemoTag – A healthtech solution offering real-time insights and alerts for dementia patients.​
    • Nexera Health – A technology-driven platform providing end-to-end healthcare solutions for corporates in India and Southeast Asia.​
    • Bullspree – A stock market gaming app, making investing accessible and engaging through gamification.​

    Three of these startups were founded by Masters’ Union graduates, while the remaining two, Project Clay and Nexera Health, are a part of the institution’s startup community. Over the past five years, Masters’ Union has incubated numerous startups, many of which have successfully scaled their operations. This success is driven by a strong entrepreneurial culture supported by world-class infrastructure, including AI labs in partnership with PwC, startup incubation hubs, mentorship from industry leaders, and investments in cutting-edge resources to help students build their ventures.​

    What sets Masters’ Union apart is its hands-on learning model. Instead of traditional exams, students are assessed based on real business outcomes—whether it’s building an e-commerce business in their first term, launching a YouTube channel in the second, developing a blockchain protocol in the third, running a cloud kitchen in the fourth, or creating a hardware product in the fifth. Unlike traditional exams, assessments of students are based on key business metrics like ROI, profitability, and NPS, ensuring that graduates leave with practical and industry-ready skills. 

    Pratham Mittal, founder of Masters’ Union, emphasised, “Seeing five startups from our community pitch on Shark Tank India is a proud moment. It reaffirms our belief that when education is deeply connected to industry, innovation naturally follows. At Masters’ Union, we don’t just prepare students for jobs—we prepare them to lead and build. Our programs are designed to instill an entrepreneurial mindset that gives students the confidence and capability to start their own ventures, whether immediately or later in their careers. Last year alone, around 26 startups were launched by our graduates, and we aim to see this number grow. By challenging students with real-world business problems, we ensure they develop the resilience, problem-solving skills, and execution mindset needed to succeed in any business environment.”

    About Masters’ Union

    Masters’ Union is a premium tech & business school based in the corporate district of Gurgaon. It was founded in 2020 with the philosophy of hands-on learning, where students learn by doing. The leadership behind Masters’ Union consists of graduates from Stanford, Wharton, and IITs and IIMs. Unlike traditional colleges, the faculty at Masters’ Union comprises MDs, CXOs and AI Experts from companies such as Amazon, Apple, IBM, McKinsey, PwC, and KPMG. Additionally, the Institute also brings in faculty from the world’s top-ranked universities such as Oxford & Harvard.

    List of Namita Thapar Investments | Startups Funded by Namita Thapar of Emcure Pharmaceuticals
    Namita Thapar is Emcure Pharmaceuticals’ Executive Director and Shark Tank India judge. Check out the entire list of Namita Thapar’s investments in startups here.
    StartupTalkyBharath

  • Vodafone Idea Stock Surges 20% Following Government’s Spectrum Dues Conversion

    On Tuesday, Vodafone Idea (Vi) saw its stock price jump 20% following the Indian government’s decision to convert INR 36,950 crore of the telecom company’s spectrum dues into equity. This is supposed to provide Vi with the cash flow relief it so desperately needed to the tune of INR 40,000 crore, which, in turn, was supposed to ease some of the financial strain that was pushing Vi down toward the bankruptcy option.

    Impact of the Government’s Decision

    Spectrum dues being converted into equity may reduce the immediate financial burden on Vodafone Idea Limited, but it is still facing severe challenges. According to Nomura Research, Vi needs to find 40,000 crore rupees ($4.8 billion) in 2026 and 27 through debt to cover capital expenditures and pay back dues to the government that are due starting next month. The deferred payment is part of a National Company Law Tribunal order that permits Vi to pay in installments through FY27.

    To maintain operations and restore its competitive position, Vi aims to invest INR 50,000-55,000 crore over the next three years. This funding will serve two main purposes: to expand 4G services in important markets and to initiate 5G rollout in major urban centers. So far, the company has managed to sock away INR 26,000 crore through equity. Its other primary funding source, banks, has held back due to uncertainty surrounding Vi’s past and projected future revenues.

    Potential Government Interventions and Industry Impact

    Given Vi’s present levels of debt and cash flow issues, analysts expect that further interventions by the government, including the conversion of additional statutory dues into equity, may be required to keep the telco viable. If all the dues were converted into equity, the government’s stake in Vi could rise to 81%, effectively making it a state-run company.

    On the industry front, telecom infrastructure provider Indus Towers is expected to benefit from Vi’s now improved financial state. Ambit Capital projects that Indus will receive 70% of Vi’s new increments from rollout, effective FY25, if not sooner, going through FY28. The upticks are expected to happen because, as Ambit notes, Vi’s spectrum bands are now closely aligned with those of Bharti Airtel, leading to what should be a significant uptick in network tenancy for Indus Towers at Vi in the next four years.

    Vi’s Future

    Vi is the result of the merger of Vodafone India and Idea Cellular in 2018. It has been struggling, however, due to the fierce competition from Reliance Jio and Bharti Airtel. Its inability to invest in pan-India 5G services has not helped, and it has lost subscribers and market share. The government’s move to provide it assistance is a short-term relief. But the telco has a long, long way ahead to traverse before it can come back to financial health. It will require a massive infusion of cash, some hike in tariffs, and likely some more assistance from the government back in the telecom sector to come even close to stability.

  • Sterling and Wilson Renewable Energy Secures INR 1,470 Crore Green Energy Projects in Rajasthan and Gujarat

    Sterling and Wilson Renewable Energy Ltd. (SWREL) has declared a momentous amplification to its project portfolio, obtaining three new green energy projects to the tune of INR 1,470 crore. This intensification includes the company’s first wind-solar hybrid engineering, procurement, and construction (EPC) project—an entry into the wind energy segment and, fingers crossed, a harbinger of future expansion into this fast-growing sector.

    Expansion into Wind Energy

    The company received a mandate for a wind-solar hybrid project in Rajasthan that has capacities of 69.3 MW (wind) and 75 MW (solar). It is the lowest bidder for a 260 MW turnkey solar project in Gujarat. The third project is a photovoltaic (PV) plant in Rajasthan. All three renewable energy projects reinforce the company’s strong presence in India’s renewable energy market.

    SWREL’s hybrid project in Rajasthan signals its initiation into wind EPC. The project comprises Balance of Plant (BoP) services for 127 MW AC of solar and wind energy working in unison. The breakdown is as follows: 1) BoP for 69.3 MW wind energy, 2) 58 MW AC (75 MW DC) solar plant BoS, and 3) a 132 kV/33 kV pooling substation. With this project, the company begins integrating wind energy solutions into its existing solar and battery energy storage system (BESS) lineup and effectively provides an EPC portfolio in which wind, solar, and storage work harmoniously. It is a step toward offering more comprehensive energy solutions.

    Market Response and Financial Performance

    After the announcement, the stock price of SWREL on the National Stock Exchange (NSE) shot up by 6.33%, coming to rest at a close of INR 266.20 per share. Given that the broader Nifty index was down 1.5% on the same day, this uptick in SWREL’s stock was quite counter-trend. But, even with this uptick, it’s worth noting that this stock has really struggled over the past year, showing a 50.70% decline.

    Sterling and Wilson Renewable Energy returned to profitability in the October-December quarter, posting a net profit of 14.8 crore rupees ($1.8 million) compared with a loss of 63.7 crore rupees a year ago. The company reported nearly three times the revenue, at 1,837 crore rupees, from 583 crore rupees a year ago. EBITDA rose to 70.5 crore rupees in the latest quarter from 16 crore rupees. The company also managed to improve its EBITDA margin slightly, though it remains low, at 3.8 percent.

    Sterling and Wilson Renewable Energy’s expansion into wind EPC corresponds with India’s overall shift to toward renewable energy. The country is hewing toward an international electricity market it can use to fulfill ambitious energy sustainability target laws like the Electricity Amendment Bill. SWREL’s success in securing large project contracts indicates strong market confidence in the outfit’s overall competence.

  • Flipkart Co-Founder Binny Bansal Commits INR 70 Crore to Establish Tech Institute in Punjab

    Plaksha University in Mohali has made known its intentions regarding the Binny Bansal Institute for Inventing the Future (IIF). A commitment of INR 70 crore from Flipkart co-founder Binny Bansal enables this move. The institute’s focus is on advanced technology—specifically, artificial intelligence, blockchain, and robotics. It intends to utilize these technologies to develop scalable solutions for big, urgent problems. Crucial areas of concern include healthcare, agriculture, clean energy and environmental sustainability. The hire for the institute’s directorship has yet to be finalized.

    A Vision for Technological Advancement

    Binny Bansal, who co-founded the software and consulting firm Xto10x, sees the institute as a potential bridge over the skills gap in AI talent. Its envisioned hub-of-hubs can span the four key domains of basic research, transformative research, practical, real-world applications, and the collaboration needed to make it all work.

    The AI Talent Institute is not going to make a direct bridge by funneling academics into private enterprises. Instead, it should enable the partnerships mentioned earlier to make the transition happen at speed and scale. One AI Talent Institute initiative is a planned direct partnership with the public sector targeted at achieving that transition.

    This is what Binny Bansal, Founder Flipkart and Xto10x, had to say about the initiative:

    “The future of technology lies in solving real-world problems. This Institute reflects my belief that the power of frontier technologies can radically improve lives, from healthcare to clean energy. I am excited to see how this initiative will develop scalable solutions for global challenges and equip the next generation of innovators with the skills they need to lead the way.”

    Collaboration with UC Berkeley

    A strategic partnership has been formed by Plaksha University with the University of California, Berkeley, embracing the famed Berkeley Artificial Intelligence Research (BAIR) Lab. This collaboration serves as an initial step toward engaging the University of California in joint research projects with Plaksha University and several other international partner institutions. The collaboration also enables the exchange of faculty and students between the two universities.

    The partnership will bring in global deep-tech expertise and insights to add to India’s burgeoning deep-tech sector. It will help us gain a stronger position in the world in areas like synthetic biology, climate science, and fintech.

    Strengthening India’s Deep-Tech Ecosystem

    The University has been vigorously building a robust deep-tech ecosystem in India. It launched the Info Edge Center for Entrepreneurship last year, which works to ensure that aspiring founders get the mentorship and incubation they need to succeed.

    The Binny Bansal Institute for Inventing the Future will focus strongly on collaboration with academia, industry, and policymakers. Its work will focus strongly on commercialization, on taking research breakthroughs that it might induce or generate in its labs and offices and creating businesses out of them. There is too little of that happening in India, even as the country makes strides in fields like AI, blockchain, and robotics.

  • Ola Electric Reports Strong FY25 Sales but Trails Bajaj and TVS

    Ola Electric declared that it secured a 30% market share by registering 3,44,005 electric scooters in the fiscal year 2025. However, even with those impressive numbers, the Bengaluru-based EV manufacturer fell to third place in the race for March 2025 sales. Only Bajaj Auto and TVS managed to sell more units of something in that March than Ola Electric did.

    Trailing Bajaj and TVS

    Data from the VAHAN portal reveals that Ola Electric sold 23,430 units in March 2025. Meanwhile, Bajaj Auto maintained its lead in the electric two-wheeler (E2W) segment with 34,863 units. Not too far behind, TVS racked up sales of 30,454 units. This puts the market share of Ola Electric in March at 17.9%; Bajaj’s share is 26.76%, and TVS holds 23.3%.

    This is not the first time Ola Electric has lagged behind Bajaj. This December, for the first time, Bajaj beat Ola in market share, selling 18,276 units for 24.93% of the market. Meanwhile, in March, Ather Energy sold 15,446 units. Hero MotoCorp and Greaves reported 7,977 and 5,641 units, respectively.

    Overcoming Registration Challenges

    Ola Electric accepted that the preliminary sales results for February were affected by the transition to vehicle registrations done in-house. The company claims that nearly all the February sales backlog has been completed and that by the end of this month, April 2025, the remaining February to March registrations will all be done.

    An Ola Electric company spokesperson stated, “Demand across urban and rural markets remains robust, even in March 2025. We have almost completely resolved our February backlog and are moving quickly to serve the customer registrations that we have yet to fulfill. Our operations are now fully on track.”

    Launch of Gen 3 Scooters and Technological Advancements

    Notwithstanding the registration challenges it faces, Ola Electric continues to enjoy a strong position in the electric vehicle market. The company has begun fulfilling orders for its latest offering, the S1 Gen 3 scooter, which boasts a number of technological improvements over its forerunner. The new model features a mid-drive motor (a huge step up from the previous model’s hub motor), which, combined with a chain drive, makes for a more reliable e-scooter and a more enjoyable ride.

    Ola asserts that the Gen 3 scooters provide a 20% uptick in peak power, an 11% dip in pricing, and a 20% increase in range when stacked against their forebears. But look: they are all but a few PowerPoints and a shiny “new for 2022” paint job distinct from the two other recently refreshed scooters on which they are built. You shouldn’t be fooled, then, into thinking the Gen 3 lineup is a major reworking of the previous models. But even if they are all underwhelming, each scooter still does at least one thing well.

    The S1 Gen 3 range is available in three prices, starting with the 2kWh model at INR 79,999. At the high end, the S1 Pro+ 5.3kWh variant, which features Ola’s custom 4680 Bharat Cell, is available at INR 1,69,999. As competition grows stronger, Ola Electric will have to harness its technological progress and operational efficiency to restore its market leadership.

  • Alibaba Poised to Launch Flagship AI Model Amidst Fierce Competition

    Alibaba Group Holding Ltd. is all set to launch Qwen 3, an advanced version of its leading artificial intelligence (AI) model. While the exact timing of a release remains uncertain, many in the know expect a rollout later in April. This maneuver happens to be part of an intensifying rivalry with such global AI heavyweights as OpenAI, Google, and DeepMind.

    Aggressive AI Expansion Strategy

    Alibaba has been on a fast-tracked AI development path and has brought new models and enhancements to market at an unprecedented speed. Just the other week, the company launched an upgraded model in its Qwen 2.5 series, which is not only capable of processing text, images, and audio but also video. This model has been set to serve as a bridge between the Qwen series and forthcoming products. Significantly, the new Qwen model is said to be efficient enough to be used on mobile devices and laptops.

    This pursuit of “artificial general intelligence” is much more fundamental than what is often termed “artificial intelligence”. This involves solving of specific problems, like making personalized recommendations based on the data one has in hand. “General” means the systems can do anything a human can do and, in some cases, can do it better.

    Competitive Landscape and Market Impact

    The international AI arena has seen increased rivalry lately, especially since Chinese companies like Alibaba and DeepSeek have started offering not-so-pricey AI solutions. 

    DeepSeek, an AI upstart from Hangzhou, recently shook up the industry by coming out with an AI model that works better (and also costs way less) than anything its American analogues churned out. And so we’re seeing a wave of developing-in-China, low-cost, high-performance AI services that threaten to eat into, and maybe even ultimately challenge, the dominance of American tech titans like OpenAI, Google, and Microsoft.

    In answer, OpenAI has recently revealed intentions to debut a forthcoming, more open, and human-like AI model in the immediate future. This move seems to represent a strategy shift to counter new players in the AI space like Alibaba and DeepSeek, who have been attempting to undercut OpenAI’s offerings. Meanwhile, Google and Anthropic are doing their best to hold onto the leadership charm that their AI models supposedly have. Both companies have been unveiling new updates to their models and, just like OpenAI, have been attempting to broaden the appeal of their AI models.

    Alibaba’s AI Investment Commitment

    AI has been chosen as the future growth driver of Alibaba, and it is going to be heavily funded. In February, the company announced that it was going to put more money into the actual research and development of AI in the next three years than it has in the previous ten. That’s a substantial bump. And when you’re talking about Alibaba, you have to remember that this is a company that spends ostentatiously.

    One of the organization’s newest innovations, the Qwen2.5-Omni-7B design, demonstrates Alibaba’s resolve to lead AI innovation. Introduced on March 27, this multipronged AI system is set up to accept a range of input types, mainly text but also images, audio, and video, and to give back responses nearly as fast as you can think. Because the model is compact, it’s calibrated to run on the kinds of mobile devices and laptops that most people use every day.

  • Technical Problems Affect State Bank of India’s Online Banking Services

    Due to the bank’s Annual Closing activities, the State Bank of India (SBI) has notified its clients that some financial services will be momentarily unavailable on April 1, 2025. The bank made the announcement through a post on X. For banks to complete financial records, reconcile accounts, and guarantee a smooth transition into the new fiscal year, this planned downtime is crucial. In its message, SBI recommended customers arrange their transactions appropriately to prevent any disruption.

    Reports of SBI mobile banking failures increased, with a peak occurring between 11:00 AM and 11:30 AM IST, according to data from Downdetector. Mobile banking accounted for 64% of the reported problems, with fund transfers coming in second at 33% and ATM troubles at 3%. Consumers vented on social media about unsuccessful transactions and trouble logging into their accounts.

    Official Statements of SBI and NPCI

    The services of Internet Banking, Retail, Merchant, Yono Lite, CINB, Yono Business Web & Mobile App, YONO, and UPI would not be available tentatively between 13:00 and 16:00 IST on April 1, 2025, owing to Annual Closing activity, according to SBI’s official website. ATM and UPI Lite services will be accessible during this time. Through its official X handle, ‘@TheOfficialSBI’, the bank has posted the same on its social media platform.

    The National Payments Corporation of India (NPCI) announced that several banks are experiencing sporadic decreases in transactions as a result of the end of the fiscal year. The UPI system is operating smoothly, and we are collaborating with the relevant banks to address any issues that may arise. Via its official X handle, @npci_npci, NPCI also posted this information on its social media platform.

    Services Available Vs Non Available Services

    •UPI Lite 

    •ATM services

    •Internet Banking (Retail
    & Merchant Services)

    •Corporate Internet Banking
    (CINB)

    •YONO Lite (Mobile Banking
    App)

    •YONO Business (Web &
    Mobile App)

    •YONO (SBI’s Digital Banking
    Platform)

    •Unified Payments Interface
    (UPI) Transactions

     For more seamless transactions, SBI users might try using other bank accounts to make payments. Small transactions can be made using UPI light without a UPI PIN if it is available. Payments can also be made with ATM-cum-debit cards.

    Why Banks are Closed on 1 April 2025?

    On April 1, 2025, India’s next fiscal year officially begins. On this day, banks prepare financial reports and audit records, close and reconcile their books for the previous fiscal year, and update loan balances and interest rates for the upcoming one. This closure is observed by banks in both the public and private sectors. Bank workers perform account reconciliation and audits in the background, while consumers are unable to transact at physical branches. Various states have planned a number of bank holidays for April 2025, including celebrations of Akshaya Tritiya, Mahavir Jayanti, Ambedkar Jayanti, Good Friday, Bohag Bihu, and Basava Jayanti.