NEW DELHI: The Department of Telecommunications (DoT) may clear Idea Cellular’s proposal to increase foreign direct investment (FDI) to 100% in the company within a week, having received all necessary documentation from the Aditya Birla group company and Vodafone India, senior officials said.

Mumbai: The Indian rupee on Monday strengthened for the third session to a two-week high against US dollar after crude oil prices posted its biggest drop in about a year and the US-Korea summit appears to be back on track.

At 9.15am, the home currency was trading at 67.51 against the US dollar, up 0.43% from its previous close of 67.77. The currency opened at 67.50 a dollar and touched a high of 67.45—a level last seen on 11 May.

The government is exploring an exercise to move a chunk of IDBI Bank’s stressed loans to the books of State Bank of India (SBI). Understandably, the top management at the country’s biggest lender is unhappy with the idea of toxic assets being foisted on them, sources told FE.

NTPC Dadri on Sunday synchronised the 490 MW unit, bringing an additional 300 MW to the power grid.

The Plant was closed on technical ground on May 25. Besides, due to coal supply shortage the plant could produce only 60 per cent of the installed capacity.

MUMBAI: Amazon is leading a $12-million funding round in online-only insurance startup Acko General Insurance, as the e-commerce major takes a bet on the financial services segment in India. Ashish Dhawan, the founder of private equity fund ChrysCapital, has also joined the latest round, along with existing investor N R Narayana Murthy’s Catamaran Ventures.

Digital payments company Paytm today said it does not share data of its users with any third-party or government. “We never share your (user) data with anyone: any company/ any government or any country. At Paytm, your data is yours. Not ours, or of a third party, or of the government,” Paytm said in a blogpsot today. It added that its policy allows only legally-compliant data requests from the law of the land to get access to data for necessary investigations.

After Facebook announced its own tool to detect bias in an algorithm earlier this month, a new report suggests that Microsoft is also building a tool to automate the identification of bias in a range of different Artificial Intelligence (AI) algorithms.

The Microsoft tool has the potential to help businesses make use of AI without inadvertently discriminating against certain groups of people, MIT Technology Review reported on Friday.

Withing hours of the European Union's (EU) General Data Protection Regulation (GDPR) taking effect on Friday, technology giants Google and Facebook have been hit with privacy complaints that could carry fines of up to $9.3 billion in total, a media report said.

With regard to privacy, Google, Facebook and Facebook-owned WhatsApp and Instagram are forcing people to adopt a "take it or leave it" approach which essentially amounts to demanding that users submit to intrusive terms of service, according to the the Austrian privacy-advocacy group Noyb.eu, CNET reported on Friday.

Mumbai: Shares of Tata Consultancy Services on Friday attained a milestone when its market valuation briefly crossed the Rs 7-lakh crore mark. The country's largest IT services company becomes the first listed firm to achieve this level.

During intra-day trades, the market valuation of TCS rose to Rs 7,03,309 crore. This came after its share hit a new 52-week high of Rs 3,674.

With S&P Bombay Stock Exchange (BSE) Sensex returning merely 2.55% returns since the beginning of the year in addition to weaker performance of other indices, S&P BSE Information Technology (IT) index has emerged as the best performing index. Analysts say stronger dollar, increased digital spending, strong results and reduced external factors around immigration have resulted in the rally of IT stocks.

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