< Back Jio Financial Services becomes Core Investment Company after RBI nod 17 Jul 2024 Jio received approval from the Reserve Bank of India (RBI) to transition from a Non-Banking Financial Corporation (NBFC) to a Core Investment Company (CIC). After its demerger from Reliance Industries’ financial division and a change in its shareholder pattern, RBI directed Jio Financial Services (JFS) to convert into a CIC. JFS then filed an application with RBI to become an independent investment entity. A Core Investment Company (CIC) owns assets exceeding ₹100 crore, and at least 90% of them must be invested in debentures, bonds, debt, or loans extended to group firms, equity and preference shares. A CIC deals mainly in the acquisition of shares and securities. This transition will change JFS’s operational structure. As a CIC, it will become more compliant with regulatory frameworks and have a streamlined organisational structure. JFS can now act as a diversified financial services arm and support Reliance Industries’ business ventures. This will allow JFS to allocate capital to its subsidiaries efficiently. JFS currently offers investment and lending, payment gateway, and banking services. Previous Next

< Back Lyzr.AI’s Agent Sam to help startups prepare for fundraising 5 Dec 2025 Agent Sam, named after Sam Altman, is an agentic AI capable of handling usual investor queries. During the funding season, startup founders spend up to 60% of their time answering repetitive questions for venture capitalists. This usually consumes up to 15 hours a week for around three months for them. Agent Sam has been trained on Lyzr’s financials, team background, and product information. Lyzr embedded Agent Sam on the fundraising page, and within three weeks, they received an expression of interest from 100 investors. Over 30 qualified investors engaged with Agent Sam, and 10 reached the due diligence stage. Investors’ questions were mainly expected: the company’s competitive advantage, funding raised so far, current revenue and growth, key customers, GTM strategy, and USP. Agent Sam successfully handled 60-70% of the queries, except for final negotiations and what-if questions. Lyzr.AI is a New Jersey-based startup founded in 2023 by Siva Surendira and Anirudh Narayan. Nvidia, Accenture, and Rocketship.vc are some of its notable investors. Check out my new book, THE BLACK FLAMES , on Amazon Kindle. A gripping, high-stakes mystery. ⭐⭐⭐⭐.6 stars on Amazon ⭐⭐⭐⭐⭐ on Goodreads Previous Next

< Back Most deletions from Tamil Nadu in Election Commission’s SIR 2 6 Jan 2026 The Election Commission of India’s Special Intensive Revision (SIR) is a major nationwide clean-up of electoral rolls, following large-scale discrepancies detected in Bihar and West Bengal. The ongoing SIR drive marks the most extensive voter‑roll verification exercises undertaken by the ECI. In Phase 2, the SIR drive is underway across 12 States/UTs, including Tamil Nadu, Goa, Puducherry, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh, Kerala, Uttar Pradesh, Lakshadweep, Andaman & Nicobar Islands, and West Bengal. Tamil Nadu leads with ~97 lakh absolute deletions, while Gujarat and Andaman & Nicobar Islands show the highest percentage reductions at 14.5% and ~21%, followed by Madhya Pradesh, Rajasthan, Chhattisgarh, and Kerala. So far, around 3.68 crore names have been deleted in phase 2. States have reported significant deletions due to absent, shifted, deceased, and duplicate voters. Several states required deadline extensions after irregularities surfaced—such as forms submitted by ineligible persons, misuse of BLO credentials, and entries for deceased electors. Draft rolls were published in December, and final rolls are scheduled for February 2026. Check out my new book, THE BLACK FLAMES , on Amazon Kindle. A gripping, high-stakes mystery. ⭐⭐⭐⭐.6 stars on Amazon ⭐⭐⭐⭐⭐ on Goodreads Previous Next

< Back New law to impact Indian firms offering AI products to the European Union 31 May 2024 Last week, the Council of the European Union approved the world’s first law regulating AI development, the European Union Artificial Intelligence Act. The EU’s new AI Act, expected to come into effect by June end, will raise compliance expectations and associated costs for Indian firms selling AI systems in Europe. Companies will have six months to conduct a risk assessment to ascertain the category of their AI systems and prepare for compliance. While the generic AI applications will get a year to comply, the high-risk systems must fully comply within three years. The Act will ban any AI applications posing unacceptable threats within six months of implementation. Indian SMEs offering AI products to the EU market at reasonable rates are worried about losing their competitive edge. Becoming and staying compliant will demand excessive costs and administrative resources. Non-compliance can attract penalties of up to €1,50,00,000 or 3% of the turnover. The new Indian government may pass the Digital India Act, replacing the twenty-five-year-old IT Act. It may also regulate AI. Previous Next

< Back Ebola outbreak confirmed in Congo, Uganda 1 Jun 2026 Ebola scares in Brazil & Italy intensify fears of global spread, but later ruled out. The new virus is caused by the Bundibugyo strain, a rarer variant for which no approved vaccine or specific treatment exists yet. The World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus travelled to eastern Domestic Republic of Congo (DRC). He called for a ceasefire amid the ongoing conflict so health workers can safely reach the affected communities. Suspected cases have surpassed 1,100 across DRC and Uganda, possibly with hundreds of deaths, although a handful of patients have recovered. The WHO and African CDC are scaling up surveillance, contact tracing, treatment centres, and cross‑border preparedness, thus emphasising community engagement as critical to controlling its spread. Political tensions around the proposed U.S.-backed quarantine facilities in Kenya specifically for treating Americans evacuated from Congo have intensified. A Kenyan court had temporarily suspended the project, but the government decided to go ahead anyway. Check out my books, The Black Flames , The Flames Turn White , and crawlers , a poetry collection on KINDLE . Previous Next

< Back Google developing digital agri stack 3 Mar 2025 It will help identify farm boundaries and improve insurance, loans, and subsidy payments. Using satellite imagery, Google’s new upcoming tool on the agri stack will identify farm boundaries based on usage patterns to know which crops are being grown and where. It will allocate unique IDs to each farm, thus building a digital agricultural stack. The platform will churn out data about each farm, which can be used by agricultural enterprises offering crop loans, insurances, and subsidies. The base model is ready and Google is encouraging startups and agri enterprises to use the model to build solutions. The Indian government is also planning to advance the Digital Public Infrastructure (DPI) initiative covering farmers and their fields for three years and creating digital identities for 11 crore farmers. The government’s agri stack will capture crop data directly from the field through a mobile interface. It will use georeferenced village maps to conduct digital crop surveys and provide accurate, real-time crop area information. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

< Back India explores Venezuelan crude oil 15 Jan 2026 US sanctions had almost wiped out the India–Venezuela oil trade between 2021 and 2023. Russia’s Urals grade oil fits easily into most Indian refineries, but as it becomes harder to access, India is eyeing Venezuela’s 303 billion barrels of crude oil reserves, the largest in the world, as a backup. Venezuelan crude oil is extremely heavy, sulphur-rich and costly to refine. Less than five Indian refineries, such as Reliance’s Jamnagar and HPCL Vishakhapatnam, can process it efficiently. The discounted price of Venezuelan oil at USD 8–8.5 per barrel is attractive, but higher processing costs, shipping risks and inconsistent supply dilute the benefit. US sanctions have repeatedly disrupted Venezuela’s exports, and the country’s production has collapsed from 3.5 million to under 1 million barrels per day. Even with eased sanctions, India could access only small volumes. Venezuelan crude can diversify supply and help keep global oil prices around USD 60-65, but it cannot replace Russia’s scale, stability or refinery compatibility. Check out my new book, THE BLACK FLAMES , on Amazon Kindle. A gripping, high-stakes mystery. Previous Next

< Back China goes back to allowing 10 Hollywood movies per year 25 Apr 2025 With over 90,000 cinema theatres, China is the world’s largest market as per screen count. Decades ago, Chinese theatrical releases were state-sponsored productions of their history. In 1994, it allowed the release of ten Hollywood movies. In 2012, China's State Administration of Press, Publication, Radio, Film, and Television (SAPPRFT) and the Motion Picture Association of America (MPAA) signed an agreement to raise the number of Hollywood movie releases in Chinese theatres from 20 to 34 and increase their box office revenue share. In 2015, China and the MPAA revised the agreement to allow Hollywood to collect and verify payments and audit Chinese distributors for transparency in revenue sharing. 80% of the Chinese box office is dominated by their domestic releases, followed by Hollywood, despite the restrictions. Several Indian films have earned over ₹100 crore. Movies from Japan, Korea, and the UK also do well in China. China will now allow ten Hollywood releases yearly as a retaliatory move in the ongoing tariff war. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

< Back Dream11 acquires fantasy cricket stock broking platform Sixer Ishita Nigam 9 Oct 2023 Founded in 2018 in New Delhi, Sixer allows users to invest in fantasy stocks of cricket players. Stock prices vary as per the cricketer’s on-field performance. To offer an add-on thrill on its platform, fantasy sports platform Dream11 acquired the fantasy cricket stockbroking platform Sixer last month. Delhi-based online trading platform founded in 2018, Sixer lets users trade in fantasy stocks of cricketers. Stock performance varies as per their real life performance on the field. The startup had raised $3 million in June 2021 from Genting Ventures, Bullpen Capital, and Velo Partners. Dream11 recently received a show cause notice from the Directorate General of GST Intelligence (DGGI) to pay ₹28,000 crores tax as per 28% rate for bets worth ₹100,000 crores placed on its portal since 2017. A 28% GST applies to every deposit made on the portal each time it is rotated via a game. So, tax must be paid for every bet placed on the portal. Industry representatives approached the government to reconsider the GST slab to avoid raising tax liability for the industry. Previous Next

< Back Telecom Department, mobile operators target fake int’l callers with Indian numbers 27 May 2024 The ‘Sanchar Saathi’ portal’s RICWIN module will identify international callers with an Indian number and assist users in reporting such callers. The Sanchar Saathi portal, launched by the Department of Telecommunication (DoT) in May 2023, assists in identifying fake international callers with Indian numbers. These international criminals manipulate the Caller Line Identity (CLI) to display local numbers to conduct financial fraud, cybercrime, fake digital arrests, drugs and narcotics in couriers, FedEx scams, and impersonating government and police officials. The Telecom Service Providers already block international callers with Indian landline numbers and have also been directed by the DoT to block mobile calls. Using Sanchar Saathi, users can report fraud cases, check the mobile numbers issued in their names, and disconnect the ones they did not take. The portal’s TAFCOP module assists in checking the genuineness of the device while buying a new mobile phone. The CEIR module can help block and track a lost or stolen phone. The Chakshu mode facilitates reporting fraud, suspecting and unsolicited calls, SMSes, and WhatsApp messages. Previous Next

< Back DGCA orders Air India 787 Dreamliner enhanced inspection 14 Jun 2025 The 787 Dreamliner is built for long-haul routes and can carry 242-296 passengers, depending on the aircraft variant. The DGCA ordered Air India’s Dreamliner fleet inspection starting June 15th. The team will conduct technical inspection, power assurance checks, and introduce a ‘Flight Control Inspection’. Boeing has 1,148 Dreamliners currently in operation. Of those, Air India operates 34, including 787- 8s. Seven 787- 9s were added after Air India’s merger with Vistara last year. AI-171 Dreamliner had flown over 41,000 hours, completed around 8,000 takeoffs and landings, with 700 in the past 12 months, an average for a Dreamliner. It had flown from Delhi to Ahmedabad on the morning of June 12th, the day it plummeted to death. The aircraft’s expected lifespan is 20-25 years. It was the first Dreamliner to have a fatal crash since its debut in 2011. In 2013, the Indian government had grounded Air India’s six 787 fleet after battery malfunctions. Student Bhoomi Chauhan missed AI-171 flight by 10 minutes due to traffic, BBC reported. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

< Back Adani to start shipbuilding at Mundra Port 9 Jul 2024 The decision is well-timed because fleet owners worldwide are looking for alternatives, and the ship-building yards in South Korea, Japan, and China are booked until 2028. India ranks 20th globally in commercial shipbuilding with a 0.05% market share. Its goal is to be among the top ten shipbuilders towards the Maritime India Vision 2030 and scale up to the top five by 2047. Befitting this ambition, Adani has planned to create a shipbuilding site at its flagship port at Mundra. Adani recently got approval from the Ministry of Environment, Forest and Climate change for a ₹45,000 crore expansion plan for Mundra Port. This gives the conglomerate the required resources to start supplying new vessels in a starved industry. The global shipping industry is shifting its focus to green ships to meet its decarbonisation goals. Over the next 30 years, approximately 50,000 green ships will need to be manufactured to replace the existing fleet. Global shipyards outbid Indian shipbuilders by up to 35%. Even governmental aids in taxes and duties fail to reduce this cost difference. Previous Next