wayr today India

Category: Enterprise

  • Fino Payments Bank Appoints Former RBI Executive as Chief Compliance Officer

    This article was generated by AI and cites original sources.

    Fino Payments Bank has announced the appointment of Abhilash Ankathil, a former executive at the Reserve Bank of India (RBI), as its new Chief Compliance Officer (CCO). Ankathil, with over twenty-five years of experience in banking, non-banking ecosystems, payment system regulation, and legislative drafting, will take on the role from April 6 for a three-year term. This move follows the resignation of the previous CCO, Aashish Pathak, who recently departed the company.

    The appointment of Ankathil comes amid increased regulatory scrutiny on the bank, with the Managing Director and CEO facing allegations of involvement in a significant GST evasion case related to online betting platforms. Despite these challenges, Fino has reported steady growth, with around 7 lakh new accounts opened in Q4 of the 2025-26 fiscal year, bringing its total customer base to approximately 1.75 crore.

    This strategic appointment highlights Fino’s commitment to regulatory compliance and governance, underscoring the importance of experienced leadership in navigating complex financial landscapes. Ankathil’s extensive background in regulatory frameworks and legal expertise positions him well to oversee compliance operations and ensure adherence to industry standards.

    Source: Inc42 Media

  • Amazon India Shifts Focus to Quick Commerce, Phases Out Fresh in Major Cities

    This article was generated by AI and cites original sources.

    Amazon India is realigning its strategy to prioritize quick commerce services by discontinuing its Fresh offering in key cities, according to a recent UBS report. This decision reflects a broader trend in the e-commerce sector where companies are enhancing their last-mile delivery capabilities to cater to the surging demand for fast and efficient services.

    Currently, Amazon Now operates in six cities, including Delhi, Bengaluru, and Mumbai. The company plans to extend this service to encompass 10-15 major cities, underscoring its commitment to meeting evolving consumer expectations for swift deliveries.

    This strategic shift by Amazon in India mirrors the global industry’s focus on improving last-mile delivery efficiency and speed. By streamlining its operations and concentrating on quick commerce, Amazon aims to strengthen its position in the competitive Indian market and better serve customers’ evolving needs.

    Source: Tech-Economic Times

  • Wipro Expands Tech Capabilities Through Strategic Acquisitions

    This article was generated by AI and cites original sources.

    Wipro, a leading technology company, has intensified its focus on strategic acquisitions to enhance its engineering, consulting, and AI-led service offerings. This move comes amidst a subdued demand environment, signaling Wipro’s commitment to expanding its technological expertise through targeted acquisitions.

    By acquiring Olam and other companies, Wipro aims to strengthen its capabilities in crucial tech domains, positioning itself as a formidable player in the competitive tech landscape. The emphasis on bolstering expertise in engineering, consulting, and AI-led services underscores Wipro’s strategic vision to remain at the forefront of technological innovation and service delivery.

    Through these acquisitions, Wipro is poised to advance its technological capabilities, enabling the company to offer enhanced solutions to its clients and stay ahead in the rapidly evolving tech industry. As Wipro steps up its dealmaking efforts, industry observers will be keen to see how these strategic moves shape the company’s future trajectory and competitive positioning in the market.

    Source: Tech-Economic Times

  • India Adopts Zoho Email Services, Modernizing Government Communication

    This article was generated by AI and cites original sources.

    India is transitioning its official government communication systems to Zoho email services, marking a departure from the long-standing reliance on National Informatics Centre (NIC) managed platforms. The NIC has traditionally served as the government’s technology backbone, handling crucial communication infrastructure for decades.

    This shift to Zoho email services represents a step towards modernizing and potentially enhancing the efficiency and security of official correspondence within the government. By leveraging Zoho’s email solutions, India aims to streamline its communication processes, potentially leading to improved data management and communication effectiveness.

    Furthermore, this migration underscores the country’s commitment to embracing advanced technology solutions from private sector providers like Zoho, signaling a recognition of the benefits that cloud-based email services can offer in terms of scalability, reliability, and innovation.

    On a related note, Zomato’s parent company’s Employee Stock Ownership Plan (ESOP) strategy also highlights how tech companies in India are exploring innovative ways to incentivize and retain talent, reflecting a broader trend in the tech industry towards employee-centric policies.

    Source: YourStory RSS Feed

  • Oracle Layoffs Impact India’s Tech Sector Amid Automation Shifts

    This article was generated by AI and cites original sources.

    Oracle’s recent global layoffs have significantly affected India, with a substantial portion of the workforce being let go in the country amid increasing automation trends. The Indian tech industry is facing challenges as Oracle’s actions ripple through the sector.

    Entry-level hiring in India’s tech sector has been particularly impacted, with a decrease in openings for freshers by nearly 11% compared to the previous year. Freshers are finding fewer opportunities, with mid-senior roles dominating the job market at 54% of demand.

    In contrast, the Indian tech landscape is witnessing a surge in ad spending by major players like Amazon, Flipkart, and quick commerce platforms such as Blinkit and Instamart. Ecommerce giants are projected to boost ad revenues significantly in 2026, with quick commerce platforms also experiencing substantial growth in ad revenue.

    Quick commerce platforms are leveraging high-frequency usage and limited in-app inventory to make ad slots more valuable. Innovative strategies like festive sales and micro event-led shopping campaigns are driving increased engagement on these platforms, with brands benefiting from contextual advertising opportunities.

    Overall, these developments underscore the evolving dynamics within the Indian tech space, emphasizing the need for companies to adapt to changing market conditions and technological advancements.

    Source: Tech-Economic Times

  • Indian Government Migrates 16.68 Lakh Official Email Accounts to Zoho’s Cloud Platform

    This article was generated by AI and cites original sources.

    The Indian government has successfully transitioned approximately 16.68 lakh official email accounts of various Ministries and Departments to a cloud-based platform operated by Zoho Corporation. The migration project incurred a total cost of Rs 180.10 crore, as revealed by Union Minister of State Jitin Prasada in parliament.

    This move marks a significant step towards modernizing the government’s communication infrastructure by leveraging cloud technology. By partnering with Zoho, a leading player in the cloud services industry, the government aims to enhance efficiency and security in its email communication processes.

    Cloud-based platforms offer scalability, flexibility, and improved collaboration capabilities, which are crucial for managing a vast number of official email accounts securely and efficiently. This migration underscores the government’s commitment to adopting cutting-edge technologies to streamline its operations and enhance communication within various departments.

    Source: Tech-Economic Times

  • Related Digital Secures $16 Billion Financing for Oracle Data Center Expansion

    This article was generated by AI and cites original sources.

    Related Digital is in the final stages of securing $16 billion in financing to construct a campus in Michigan’s Saline Township. This development aims to enable Oracle to enhance its capabilities for OpenAI, as reported by Tech-Economic Times. The funding is anticipated to be completed by the end of this month, signaling a significant investment in technology infrastructure.

    This substantial financing underscores the growing importance of robust data centers in supporting advanced artificial intelligence applications. By enabling Oracle to expand its infrastructure for OpenAI, this initiative could potentially drive innovation in AI research and development. Michigan’s Saline Township is set to become a hub for cutting-edge technology, showcasing the critical role of state-of-the-art facilities in fueling technological advancements.

    As tech companies continue to expand their infrastructure to meet the escalating demands of AI-driven solutions, investments of this magnitude demonstrate the commitment to pushing the boundaries of technological possibilities. The collaboration between Related Digital, Oracle, and OpenAI signifies a strategic partnership aimed at harnessing the power of AI to drive progress across various industries.

    Source: Tech-Economic Times

  • Amazon’s Cloud Services in Bahrain Disrupted After Reported Iranian Strike

    This article was generated by AI and cites original sources.

    Amazon’s cloud computing operation in Bahrain reportedly faced disruption after an alleged Iranian strike, as detailed in a recent Financial Times report. The incident highlights the potential vulnerability of critical tech infrastructure to geopolitical tensions in the region.

    The Amazon Web Services (AWS) data center in Bahrain serves as a key hub for cloud services in the Middle East, catering to businesses and organizations relying on cloud computing capabilities for various operations. While the extent of the damage and its impact on AWS services remain undisclosed, the incident underscores the importance of robust contingency plans and security measures for tech companies operating in politically sensitive regions.

    This event serves as a reminder of the potential risks faced by cloud service providers, necessitating a reevaluation of resilience strategies to mitigate the impact of unforeseen disruptions.

    Source: Tech-Economic Times

  • Zaggle’s Shares Surge 19% on Strong FY27 Projections: Analyzing the Tech Driving the Growth

    This article was generated by AI and cites original sources.

    Indian fintech company Zaggle witnessed a remarkable 19.2% surge in its shares today, reaching a new high of ₹223 on the BSE. This rally was fueled by the company’s robust projections for business growth in the fiscal year FY27.

    Zaggle’s market capitalization now stands at ₹2,919.09 Cr, reflecting the market’s positive response to its future outlook. The company anticipates a standalone revenue growth of 25-30% and a consolidated revenue growth of about 40% for FY27, emphasizing the momentum across its business segments.

    In the competitive landscape of fintech and SaaS, Zaggle’s strategic focus on optimizing working capital cycles, driving revenue growth through customer acquisition and cross-selling, and enhancing margins with operational efficiency and AI integration sets a notable precedent for the industry.

    Financially, Zaggle reported a significant net profit increase in Q3 FY26, demonstrating its financial strength and growth trajectory. The recent acquisition of fintech startup Rio.Money further underlines Zaggle’s commitment to expanding its market presence and offerings.

    Despite market challenges and a year-to-date stock decline of 36%, Zaggle’s current performance showcases its resilience and the market’s confidence in its long-term prospects.

    Source: Inc42 Media

  • ServiceNow Appoints Experienced Tech Executive Kulmeet Bawa as India & SAARC Managing Director and General Vice President

    This article was generated by AI and cites original sources.

    ServiceNow, a leading enterprise technology company, has announced the appointment of Kulmeet Bawa as the Managing Director and General Vice President for India and the SAARC region. Bawa succeeds Ganesh Lakshminarayanan, who has transitioned to Tata Communications after serving as the head for India and SAARC since January 2025.

    This strategic move brings Bawa’s extensive experience, gained from his tenure at SAP, to lead ServiceNow’s operations in a key market like India and the SAARC nations. With a background in enterprise technology solutions, Bawa is poised to drive ServiceNow’s growth and strengthen its presence in the region.

    ServiceNow’s decision reflects the company’s commitment to leveraging top talent and industry expertise to drive innovation and customer value. Bawa’s leadership is expected to enhance ServiceNow’s position in the enterprise technology landscape, offering advanced solutions to businesses in India and the SAARC region.

    Source: Tech-Economic Times