Mukesh Ambani-owned Reliance Industries Limited (RIL) has announced its strategic investment in and partnership with Den Networks Limited and Hathway Cable and Datacom Limited.

In a statement published by the company on Wednesday, the RIL announced a primary investment of Rs. 2,045 crore through a preferential issue under Securities and Exchange Board of India (SEBI) regulations and secondary purchase of Rs. 245 crore from the existing promoters for a 66% stake in Den Networks Limited ("DEN"), and Primary investment of Rs. 2,940 crore through a preferential issue under SEBI regulations for a 51.3% stake in Hathway Cable and Datacom Limited ("Hathway").

Apart from DEN and Hathway, RIL would make open offers for GTPL Hathway Limited, a company jointly controlled by Hathway with 37.3% stake, and Hathway Bhawani Cabletel and Datacomm Limited, a subsidiary of Hathway.

"Reliance is privileged to partner with the Rajan Raheja Group, one of the most respected business houses in India, and Sameer Manchanda, a first generation entrepreneur, who have created strong businesses through their business acumen and

New Delhi: Tata Consultancy Services (TCS) Ltd’s quarterly earnings from the financial sector have edged past that of Accenture Plc, which is nearly double its size, making the Mumbai-based company the world’s largest pure-play information technology (IT) and consulting firm servicing mega banks and insurers.

Financial services sector is the largest buyer of services and solutions from IT and consulting firms, and in the last decade, Accenture has managed to retain its sectoral dominance.

During the July-September period, TCS got $2.07 billion in business from banking, financial services and insurance, or the BFSI sector. This included $1.63 billion from work across application development and maintenance, and other traditional solution offerings, besides $445.9 million from its proprietary platforms such as TCS iON.

Accenture, which follows a September-August financial year, got $2.01 billion in business from banking and insurance customers in the June-August period.

Put another way, TCS’s BFSI vertical, if carved out as an independent unit, will be larger than India’s third largest IT services firm, HCL Technologies Ltd, which ended with $2.05 billion in revenue in the April-June quarter.

“In the last quarter, we became the number one pure-play IT services firm servicing the banking and financial services sector across the world,” TCS’s chief operating officer, N. Ganapathy Subramaniam, said in an interview last week. “This is very heartening to see we are doing well, and the way we are shaping the industry.”

Akash Malik became India’s first silver-medallist in archery at the Youth Olympic Games, providing a fitting finale to the country’s best-ever campaign at the marquee event in Buenos Aires. The 15-year-old son of a farmer lost a one-sided final to Trenton Cowles of the USA 0-6 as India concluded with three gold, nine silver, and one bronze at the event that was launched in 2010.

Seeded fifth after qualification, the Haryana-boy was inconsistent in the summit clash against the 15th seed Cowles, who only shot in 10s and 9s to wrap it up easily. In the three-setter, both the archers shot four perfect 10s, but Akash’s two wayward 6s in the first and the third set proved to be the decisive factor.

READ | Panwar clinches Silver in 5000 m Race Walk in Youth Olympics

“I have trained in the wind, but here it was too much,” said Akash.

“I feel good but I lost the gold medal,” added the school-boy after bettering Atul Verma’s feat of a bronze at the Nanjing edition of the Games in 2014.

In a move aimed at promoting digital transactions, the Reserve Bank of India (RBI) has released operational guidelines to facilitate payments among prepaid instruments (PPI) such as mobile wallets.

The guidelines, released yesterday, elaborate on requirements for achieving inter-operability for mobile wallets and cards, and norms for customer protection and grievance redressal.

According to the notification issued by the RBI, inter-operability among mobile wallets, and between bank account and e-wallet would be enabled through the UPI system. The inter-operability shall be facilitated to all KYC-compliant PPI accounts and entire acceptance infrastructure.

The inter-operability would be achieved in a phased manner. Paytm, MobiKwik, Oxigen and Ola Money are some of the popular mobile wallets in the country. Currently, a mobile wallet does not allow customers to send or receive money from a wallet run by another company.

Online financial services marketplace BankBazaar Monday said former RBI Deputy Governor (DG) S S Mundra has been appointed as an advisor to the company.

In a statement BankBazaar said Mundra's expertise will help in driving 100 per cent paperless and presence-less financing by the company in India.

BankBazaar Co-Founder & CEO Adhil Shetty said as digital mode is increasingly becoming the preferred way to transact, there is a greater need for collaboration between fin-tech, regulators, and financial institutions.

"This will ensure easy and frictionless access of financial products and services to all sections of the society," Shetty said.

Mundra said the road to greater financial inclusion is through technology and innovation, and BankBazaar has taken giant strides in simplifying the access to personal finance in India.

"I look forward to working with BankBazaar as an advisor in their journey to bring access to the right financial products to all Indians and will be happy to share my insights with them in this pursuit," Mundra said.

The theme this year is, 'Global Partners for Global Challenges'. The summit will prioritise issues related to connectivity, trade and investment, sustainable development, climate change, terrorism, migration, maritime security and cyberspace.

The meeting will bring together Heads of state of 30 European and 21 Asian countries, besides top representatives of the European Union and Secretary General of the Association of Southeast Asian Nations (ASEAN).

Apart from the opening ceremony, Vice President will participate in the plenary session of the summit and have interactions with various stakeholders. He will also have bilateral meetings with the Heads of State of various countries on the sidelines of the summit.

On the first day, Vice President M. Venkaiah Naidu is scheduled to hold one to one meeting with the King of Belgians King Phillipe at Presidential Palace in Brussels (at noon time). Naidu is likely to discuss the bilateral matters and issues of mutual interest and cooperation.

He is likely to seek more cooperation to strengthen bilateral relations and also to deal with the global challenges through Asia Europe Meeting (ASEM) platform. Vice President is scheduled to arrive at Europa Building for Opening Ceremony of ASEM Summit on Thursday evening (around 1925 hrs). This will be followed by his participation in the Special Session with the stakeholders.

Mangaluru, Oct 15 (PTI) ‘Beeg Ani Beegath’, a collection of short stories in Konkani by well-known writer, journalist and critic H M Pernal has bagged the prestigious ‘Vimala V Pai Vishwa’ Konkani best book award for the year 2018.

Konkani poet Sharathchandra Shenoy from Kochi won the Vishwa Konkani best poetry award for his book ‘Idam Na Mama,’ while Vishwanath M Shet from Uttara Kannada bagged the Vishwa Konkani lifetime achievement award.

Each award carries a purse of Rs one lakh each, a certificate, memento and shawl.

The awards will be presented at a function here on November 18 in the presence of sponsor T V Mohandas Pai, a press release from the World Konkani Centre said Monday.

H M Pernal is the pen name of Henry M Mendonca, a native of Pernal in Udupi district, who currently lives in Mangaluru.

‘Beeg Ani Beegath’ is his second short story collection after ‘Devak Sodullo Pado’ published in 2002.

He has also published three collections of poetry and written several articles and critiques.

Anna Burns won the Man Booker Prize on Tuesday for her novel “Milkman,” which is narrated by an unnamed 18-year-old girl living in 1970s Northern Ireland who is coerced into a relationship with a mysterious older married man with ties to a paramilitary group.

The Booker’s judges cited Ms. Burns’s use of dark humor to explore weighty themes like the perils of tribalism, state-sponsored terrorism, social division and the ways that sexual and political oppression often overlap.

“None of us had ever read anything like this before,” the writer and philosopher Kwame Anthony Appiah, chair of this year’s judges, said in a statement. “It is a story of brutality, sexual encroachment and resistance threaded with mordant humor.”

The novel unfolds in an unnamed city during “the Troubles,” a prolonged civil conflict in Northern Ireland that gave rise to sectarian violence and guerrilla warfare. Against the background of this turbulent epoch, with the constant threat of car bombs and riots, the narrator deals with a menacing stalker, who is known only as Milkman, though he doesn’t deliver milk.

Neeraj Panwar hadn’t visited home in a year; but almost immediately after his brother Suraj Panwar won a silver medal in the men’s 5000m race walk at the Youth Olympics in Argentina, Neeraj boarded the first bus to Delhi from Jaipur and then on to Dehradun, where his family lives in Kaarabari village.

There are no celebrations planned at home but Suraj has definitely given his family all the reasons to celebrate. Not only is he the first Indian sportsman to win a medal in athletics at the 2018 Youth Olympics Games in Buenos, he also ended India’s drought for an athletics medal at the Games.

India and Tanzania on Tuesday signed two Memoranda of Understandings (MoUs ) in presence of External Affairs Minister Sushma Swaraj and Tanzanian Foreign Minister Dr. Augustine Mahiga, in the national capital.

The agreements were signed following India-Tanzania 9th Session of Joint Commission on Economic, Technical and Scientific Cooperation in New Delhi.

The MoUs are between Foreign Service Institute of India and Centre for Foreign Relation, Tanzania and National Research Development Corporation and Tanzania Industrial Research and Development Corporation.

In a tweet, External Affairs Ministry spokesperson Raveesh Kumar said, comprehensive discussion held on stepping up cooperation in trade and investment, defence and security, development partnership, Science and Technology, oil and natural gas, culture and people-to-people relations.