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Generative AI making customer support conversations more human, leading to wider adoption
Artificial intelligence-powered customer care platforms like Exotel, Freshworks, Gupshup, Corover.ai, and Yellow.ai are revolutionizing customer support. Meta's WhatsApp is the leading platform for GenAI-powered customer support conversations. GenAI integration is cost-effective and yields significant savings and ROI. Freshworks' Freddy Copilot significantly improves ticket resolution time and response times.
LIC customers: How to file maturity claim for LIC policy to get your money
LIC customers have the option to electronically submit their documentation via the LIC site instead of physically submitting it. LIC is urging policyholders to update bank details and submit KYC to receive policy money.
Ashok Leyland reaches 3 million production milestone at Pantnagar plant
Ashok Leyland, a Hinduja Group flagship company, has rolled out three million units from its Uttarakhand factory, marking a significant milestone in its vision to become one of the top 10 Commercial Vehicle (CV) manufacturers globally. The company's commitment to innovation, technological advancement, and strong customer relationships is evident.
Plans afoot to digitalise KYC, curb illegal online lending
The Financial Stability and Development Council (FSDC), led by Nirmala Sitharaman, plans to digitalize the KYC process and curb unauthorised lending. Recent restrictions on Paytm Payments Bank Ltd highlight non-compliance with KYC norms. FSDC focuses on inter-regulatory coordination, stability risks, and GIFT IFSC's role as an international centre.
Crypto firm Circle to end support for USDC stablecoin on Tron blockchain
Boston-based Circle said in a blog that, effective immediately, it would no longer mint USDC tokens on Tron, a fast-growing platform widely used for transferring stablecoins whose founder is facing regulatory problems in the United States.
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WTO meet: India to oppose no customs duty policy on ecomm transmissionsNew Delhi is of the view that e-commerce needs to be looked at from a development dimension and not from the “eyes of big tech companies”. The moratorium on customs duties on electronic transmissions is in place since 1998 and gets extended every two years when the WTO ministerial conferences take place. “There is no question of extending the moratorium. We have given a final extension. There will be no more extension…We are in favour of continuation of the work programme,” said the official.
No plan to review order against Paytm Bank: RBI GovernorThe governor, however, said an FAQ will be issued this week to address concerns of customers and depositors, including FASTag holders and wallet users, who could be impacted by the RBI restrictions on PPBL. "We take decisions after a lot of consideration and analysis. At the moment, there is no review of the decision (on PPBL)," he told reporters in the national capital on Monday after finance minister Nirmala Sitharaman's customary post-budget address to the RBI board.
Electronic transmission: Two industry bodies want 'no customs duty' to stayThe India Electronics & Semiconductor Association (IESA) and the India SME Forum have supported the continuation of prohibition of customs duties on electronic transmissions at the WTO. They argue that it is important for supply chain resilience post Covid.
Digibanks, know thy KYC-keepingRBI's regulatory intervention on customer identification by payments banks is seen as harsh for startups. Digital wallet providers argue that their business model does not support enhanced KYC compliance due to high costs and infrastructure challenges. Regulatory sympathy and roadmaps have been released to improve compliance.
Paytm Money: Are your investments safe? Here’s what customers should knowThe Reserve Bank of India under section 35A of the Banking Regulation Act, 1949, had directed Paytm Payments Bank Ltd (PPBL or the bank) to stop onboarding of new customers with immediate effect.
US solar boom opens $2 billion Indian door to banned products from ChinaGlobal concerns that Chinese officials were incarcerating or forcing members of the Uyghur minority to work in factories led US Congress to enact the Uyghur Forced Labor Prevention Act, known as UFLPA, in December 2021.
Customers, competitors redraw plans with PaytmPaytm Payments Bank faces uncertainty as customers and competitors adjust plans. Regulator intervention may be necessary to resolve issues related to banks taking over accounts. Parent company One 97 Communications and its loan sourcing business with non-banking financial companies will also be affected. Shriram Finance and other partners are reconsidering their relationships with Paytm.
Government may use tax buoyancy to reform direct taxes and unleash GST 2.0, say expertsThe fiscal deficit may fall below the estimated 5.1% in FY25, says Soumya Kanti Ghosh, Group Chief Economic Advisor, Economic Research Department, State Bank of India.
Six solar firms face DRI probe for 'evasion of duty'The probe is in connection with underpayment of customs and wrong declaration in the import of solar cells and solar modules from China between April 2022 to October 2023. The assessment so far indicates evasion of duty to the tune of ₹1,900 crore, officials said, suggesting it may exceed that as the probe proceeds. The evasion was carried out via the project import route and customs warehouse scheme.
Meta to deploy in-house custom chips this year to power AI drive: memoFacebook owner Meta Platforms plans to deploy a new version of its custom chip, called Artemis, in its data centers this year. The chip aims to support Meta's AI push and reduce dependence on Nvidia's dominant chips. Meta's investment in specialized chips and data center reconfiguration for AI applications has been costly.
Interim Budget evokes mixed response from Indian business community in GulfMixed reactions from the Indian business community in the Gulf to India's interim Budget for 2024-25. Some hailed it as forward-looking and a vision statement for the journey from developing to a developed country by 2047. Others voiced disappointment over the absence of tax reliefs for individuals.
Govt extends customs duty exemption to this key telecom sector segmentThe government extends customs duty exemption for vessels engaged in laying submarine cables to September 30, benefiting the telecom sector. The move is praised by the Cellular Operators Association of India (COAI), highlighting the importance of submarine cables for high-speed data transfer. The exemption was set to end on March 31.
Uttarakhand set to exempt tribals from UCCThe proposed Uttarakhand Uniform Civil Code, which will be introduced in the state assembly next week, is set to exempt the state tribal population fully from its provisions. The code is likely to come with a clear exception for notified Scheduled Tribes. The Uttarakhand UCC committee had held talks with these communities on a uniform code and initially received support. However, tribal and ethnic communities across states have openly expressed their opposition to the imposition of any civil code that could impact their customs.
Over 60 battery, recycling, EV infrastructure firms to participate in Bharat Mobility Global Expo"India is at the forefront of a transformative mobility revolution, and this expo serves as a testament to the nation's commitment to sustainable transportation," Rahul Walawalkar President, IESA and CES (Customized Energy Solutions) India said in the statement. The expo will showcase the diversity and innovation propelling emobility landscape, he added.
Ahead of Budget, Commerce ministry backs import tax cuts on gold barsThe commerce ministry's support for lowering the tariffs comes ahead of the Interim Budget due next week. If a reduction in the taxes is accepted, Finance Minister Nirmala Sitharaman could announce the decision in her interim budget on February 1.
Need to rationalise customs duties in certain sectors: OfficialNormally, customs duties or tariffs are used as a policy tool to ensure a higher level of protection for certain sectors to boost domestic manufacturing.
Karnataka Bank & Satin Creditcare sign up for co-lendingSatin Creditcare chairman HP Singh said: "This strategic alliance with Karnataka Bank is a significant milestone for SCNL. By combining our strengths, we aim to uplift women entrepreneurs in rural and semi-urban India, thereby enhancing sustainable economic growth. Co-lending opens the door to more opportunities of broadening our presence. We look forward to the positive outcomes this collaboration will bring for the communities we serve."
‘He was our biggest cheerleader’: Zerodha boss Nithin Kamath pens emotional post for his father, says he was the ‘1st customer’ for him & brother Nikhil in their start-up journeyThere is no substitute for a loving parent who offers unconditional support to children who embark on off-beat or high-risk career paths, such as entrepreneurship.
Google working on AI-powered customer support feature for personalised assistanceThe beta version of this support is currently accessible through select services like Maps and Google Play.
Volkswagen India extends service support to flood-hit customers in Tamil NaduVolkswagen's Indian arm is extending service support to flood affected car owners including Roadside Assistance, special benefits on parts, labour costs and car care treatment among others. The services will be available from December 22.
Maruti, Mahindra, Audi extend support to customers in cyclone-hit areas of Tamil Nadu, Andhra PradeshAs soon as the news about the cyclone 'Michaung' was reported, the company proactively sent out 7 lakh SMS alerts containing precautionary steps to its customers to ensure that even before the cyclone hits, customers could take precautionary measures to safeguard their cars against potential damage, it said in a statement.Load More
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