Finance firms, banks want loans repaid

MYSURU: Borrowers are worried as micro-financing firms, private banks and some primary co-operative societies have stepped up pressure for recovery of loans, going against the spirit of Reserve Bank of India’s moratorium relief. With the lockdown norms relaxed, their agents have entered the villages knocking at the doors of the borrowers asking them to pay the weekly instalment. A few have sent SMS messages asking them to pay the instalment and have even threatened that they may not be able to further raise loans in future as they may end…

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Tata Motors, two group finance firms accused of antitrust violations in India: Sources

India’s competition regulator is examining allegations that Tata Motors and two finance firms of its $100 billion parent group abused their market position while selling commercial vehicles, according to three sources and legal documents seen by Reuters. The Competition Commission of India (CCI) is reviewing a complaint which alleges the country’s biggest seller of trucks dictated terms around the quantity and type of vehicles its former dealer in northern India – Varanasi Auto Sales – should stock. More than a dozen lawyers representing the three Tata companies attended a private hearing at…

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Defense Secretary Mattis predicts bigger defense role for private technology firms

Defense Secretary James Mattis says he sees a growing role for the technology industry in defending the United States. The comments suggest a potential untapped market for Amazon and Google, whose hometowns Mattis visited this week on a West Coast swing, and other large companies like Apple, Facebook and Microsoft. Like the leaders of these tech companies, Mattis is focused on acquiring more expertise in artificial intelligence. The difference is his goal: getting it into the U.S. military faster, to make it a “more lethal and more effective” fighting force. “Many of the advances [in AI] are…

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CES 2017: UK support to tech firms ‘an embarrassment’

The UK government’s lack of support for start-ups attending the CES tech show is a “source of embarrassment”, according to the event’s organiser. Gary Shapiro compared the country unfavourably with France, the Netherlands and Israel. The head of one British firm at the Las Vegas event said the criticism was well-founded. But the UK’s Department for International Trade said it was providing “targeted support”. CES is one of the tech calendar’s biggest fixtures and provides companies with a chance to meet and secure orders from retailers, as well as to…

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