KYC is a term familiar to everyone who deals with financial accounts in some form or other. Whether it is setting up a new bank account for yourself or getting a new SIM card, you have surely come across this mandatory procedure.

For the unversed, KYC stands for Know Your Customer or Know Your Client.

In the present digital age when almost every aspect of our life is digitally connected, the process of KYC isn’t left behind. The Department of Telecommunication, India has now made possibilities for e-KYC. If you want to apply for a new SIM card, you can get it done paperless with an e-KYC.

Buying a new SIM? It's now all paperless with e-KYC! 🧵

5 points we all should know – pic.twitter.com/do9sftRQ6o

— DoT India (@DoT_India) September 13, 2024

Now, let’s go through how options like e-KYC help you to get a SIM connection effortlessly.

KYC is one of the primary telecom reforms and with options of e-KYC and Self-KYC, streamlining of mobile connections is pretty easy. On the other hand, if you want to switch from a prepaid plan to a postpaid, you can easily do it through OTP-based conversion.

e-KYC: Along with Self-KYC and OTP-based prepaid/postpaid conversion, KYC reforms also provide you the option of Aadhaar-based e-KYC. It is a paperless process where telecommunication companies verify your details from your Aadhaar for the price of Rs 1(incl. GST).

Self-KYC: When it comes to Self-KYC, you can choose to complete your KYC online with your Aadhaar. The process will verify your identity and DigiLocker. It authenticates your document and consequently, you can get your new SIM card.

OTP-based conversion: When you want to switch from a prepaid plan to a postpaid plan, you can use OTP authentication. This allows you to ensure that your data is not misused and the switch is done by you.

The post Now you can buy a new SIM in India with e-KYC, Check Details appeared first on The Tech Outlook.

India’s first indigenous bomber UAV aircraft- FWD-200B developed by Flying Wedge Defence was unveiled in Bengaluru on Friday. This is itself a milestone in the India’s defence and aerospace technology sector. The FWD 200B has been entirely developed in India that reduces India’s dependance on costly bomber unmanned aircraft from foreign countries. It is a medium altitude, long endurance unmanned combat aerial vehicle that has a total payload capacity of 100Kgs and can easily carry optical surveillance payloads, as well as precision air strike weapons. It has a max speed of 200 kts/370 kmph, it has an endurance capacity of 12-20 hours.

“For over 15 years, India’s pursuit of combat unmanned aircraft remained a distant dream. With the launch of the FWD-200B, India not only fulfills this dream but also joins the league of nations with advanced combat aircraft capabilities,” said Suhas Tejaskanda, Founder of Flying Wedge Defence & Aerospace.

“While the US Predator costs a staggering Rs 250 crores, our indigenous FWD-200B, built with state-of-the-art technology and manufactured in India, slashes the cost to a mere Rs 25 crores. This not only demonstrates our commitment to self-reliance but also positions India as a leader in cost-effective defence solutions”, he added.

The post India’s First Indigenous Bomber UAV Unveiled In Bengaluru appeared first on The Tech Outlook.

Vivo sub-brand iQOO has finally launched the much-awaited iQOO 12 series in China. The series comprises iQOO 12 and iQOO 12 Pro 5G and as far as its launch in India is concerned, the company has already confirmed it on 12 Dec 2023. Ahead of its launch Nipun Marya, CEO of iQOO India teased users with images of a white edition of iQOO 12. He has shared the images on X writing

“In a league of its own, iQOO12 elevates the very essence of premium and fast performance. Hit RT and keep the excitement flowing”.

iQOO has launched the iQOO 12 in three different colour options black, red and white(BWM M branding). Now this remains unclear whether iQOO will be launching the handset in all three colour options or in just one colour.

In a league of its own, #iQOO12 elevates the very essence of premium and fast performance. Hit RT and keep the excitement flowing! #DoTheDream #iQOO pic.twitter.com/MQGNiQzRNi

— Nipun Marya (@nipunmarya) November 8, 2023

As the smartphone has already been launched in China we are aware of the specs, let’s look at them.

iQOO 12 smartphone specifications

The iQOO 12 smartphone is going to be India’s first smartphone to be powered by the Snapdragon 8 Gen 3 processor. It runs on Android 14-based OriginOS custom user interface.

It comes with a 6.78-inch wide 1260×2800 pixels resolution and a 144 Hz refresh rate display. The camera section includes a triple camera setup on the rear featuring a 50 MP main camera, a periscope telephoto camera of 64 MP and an ultrawide camera of 50 MP. And there is a 16 MP selfie camera. The handset is backed by a 5,000 mAh battery that supports 120W charging.

The post iQOO 12 smartphone’s white edition teased ahead of its Indian launch appeared first on The Tech Outlook.

Ming-Chi Kuo, a market analyst at TF International Securities, has shared that the iPhone 17 smartphone that is expected to debut in the second half of 2025, will have its new product introduction or NPI kick off in the Indian market.

Read more about it below.

Apple iPhone 17 – NPI Kick Off in India

The Cupertino based tech company, Apple, has been taking all the measures needed to take its iPhone manufacturing outside from China, and the brand sees India as its potential market for such operations. Apple has already setup new manufacturing plants, as well as experience stores within the country, and now, a recent update has revealed that the iPhone 17 NPI is said to kick off in India.

Apple just very recently introduced its iPhone 15 series devices globally, in the month of September 2023, and the iPhone 16 and iPhone 17 series devices are likely to have their launch in the second half of 2024 and 2025, respectively. It is the market analyst Ming-Chi Kuo who has just revealed that the iPhone 17 NPI or new product introduction will kick start in India.

This year, it has been reported that the global iPhone shipments in India was 12-14%, and Foxconn owns 75-80% of this production capacity. This percentage of the global iPhone shipments is also going to increase to 20-25% by 2024, next year. Foxconn will also be reducing the production scale of iPhones in Zhengzhou, China to 35-45% and in Taiyuan, China, to 75-85%, by 2024.

The NPI of the standard iPhone 17 model is likely to start in India next year, in the second half of 2024. This will also be the first time Apple is going to develop a new iPhone model outside the Chinese market. It should be noted that the risk in developing a standard iPhone model is comparatively low when compared to the Plus, Pro, or Pro Max models, and this is likely why Apple has decided to start with the development of the vanilla iPhone 17 model.

By partnering with TATA, Apple also foresees a growth in India, which will thereby also strengthen its relation with the Indian government. Apple will also be benefiting from this relation, as the sales of iPhones and other Apple products will increase significantly thereafter.

Source.

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Larsen and Toubro board has approved the plan to enter the business of fabless semiconductor chip design. Initially, the company has decided to invest Rs 830 crore to start the business. Company’s chief financial officer R Shankar Raman in a conference after the announcement of its second quarter result mentioned that the company will focus on chip designing and not chip manufacturing.

“We do believe in the talent pool of chip designing in India,” he said, adding “We have decided to stay at the design end of it.”

Further, he mentioned the competition in manufacturing”We do believe that it would take a lot to compete on the manufacturing side with the likes of Chinese, Taiwanese, and Korean companies That’s not an area that we are targeting at the moment,”

He mentioned that multiple multinational corporations had set up their chip design center in India which has given confidence to them. As per the statement, the company’s strategy is to focus on the low-investment part of the supply chain. As per him, design can be patented making the business more valuable.

Raman also mentioned that the company will focus on designing automobiles and industrial chips at the moment as it needs lower investment.

The post Larsen and Toubro to enter in semiconductor chip designing with Rs 830 crore investment appeared first on The Tech Outlook.

Indian Union Minister Rajeev Chandrasekhar announced that Tata will make iPhones in India for the Indian and global markets. As per the X post of Union Minister Rajeev Chandrasekhar Tata will start making the iPhones within two and a half years. Wistron’s announcement shared with the post read that “Wistron Corp. held a Board of Directors Meeting today and granted approval for its subsidiaries, SMS InfoComm(Singapore) Pte.Ltd and Wistron Hong Kong Limited, to sign the Share Purchase Agreement with Tata Electronics Private Limited(TEPL) for the sale of its 100% indirect stake in Wistron InfoComm Manufacturing (India) Private Limited(WMMI)”.

The announcement further mentioned that the transaction price is tentatively estimated as USD 125 million.

PM @narendramodi Ji's visionary PLI scheme has already propelled India into becoming a trusted & major hub for smartphone manufacturing and exports.

Now within just two and a half years, @TataCompanies will now start making iPhones from India for domestic and global markets from… pic.twitter.com/kLryhY7pvL

— Rajeev Chandrasekhar 🇮🇳 (@Rajeev_GoI) October 27, 2023

Tata was on the brink of finalizing the deal to acquire a prominent Apple Inc. supplier’s factory in early July of this year. The company aimed to acquire the Wistron factory located in the southern state of India in Karnataka. Other than Wistron, iPhones are assembled by Foxconn and Pegatron. Tata’s control over Wistron’s operation makes it the first Indian brand to make iPhones.

Earlier when the reports of ongoing negotiations between Tata and Wistron came out, it mentioned that Wistron had already committed Apple to ship 1.8 billion dollars worth of iPhones by March 2024 and triple the workforce of the factory by next year. And now these challenges will be handed to Tata to handle and fulfill.

Prior reports suggested that Wistron’s decision to sell its assembly unit in India was due to the challenges that the unit faced in achieving profitability under Apple’s terms and conditions. It is also reported that this motivated Wistron in India to not only focus on its core manufacturing operations and look for countries like Vietnam and Mexico.

The post “Now within just two and a half years, Tata will now start making iPhones from India”- Rajeev Chandrasekhar, Electronic and Technology Minister appeared first on The Tech Outlook.

The net direct tax collection increased by 21.82 percent to over Rs 9.57 lakh crore till October 9, helped by good inflow from corporates and individuals, the Finance Ministry said on Tuesday.

With this, the net collection has already reached 52.5 percent of the full-year budget estimate of Rs 18.23 lakh crore. The provisional figures of Direct Tax collections up to 9th October 2023 continue to register steady growth, the statement reads.

📈 Impressive Growth in #DirectTaxCollection for FY 2023-24

🔹Direct tax collections upto 9th October – ₹11.07 lakh crore.

🔹17.95% higher than corresponding period of last year pic.twitter.com/Lspcs2yiMM

— Ministry of Information and Broadcasting (@MIB_India) October 12, 2023

As far as the Growth rate for Corporate Income Tax (CIT) and Personal Income Tax (PIT) in terms of gross revenue collection is concerned, the growth rate for CIT is 7.30% while for PIT is 29.53%, the statement mentions.

It further mentions after adjustment of refunds, the net growth in CIT collections is 21.39%, and that in PIT collections is 32.51% (PIT only)/ 31.85% (PIT including STT).

Refunds amounting to Rs. 1.50 lakh crore have been issued from 1st April 2023 to 09th October 2023.

The post With 22% rise, net direct tax collection touches 52.5% of budget estimate of Rs 18.23 lakh crore appeared first on The Tech Outlook.

The International Monetary Fund in its World Economic Outlook data expects global growth to slow from 3.5 percent in 2022 to 3.0 percent and 2.9 percent in 2024 which is below the historical average of 3.8 percent.

On one side where advanced economies are expected to face a slowdown from 2.6 percent in 2022 to 1.5 percent in 2023 and 1.4 percent in 2024 on the other side India’s 2023-24 growth is expected to be 6.3%. The report suggests that India’s growth will remain the same for 2024-25.

IMF Growth Forecast: 2024

USA🇺🇸: 1.5%
Germany🇩🇪: 0.9%
France🇫🇷: 1.3%
Italy🇮🇹: 0.7%
Spain🇪🇸: 1.7%
Japan🇯🇵: 1.0%
Canada🇨🇦: 1.6%
China🇨🇳: 4.2%
India🇮🇳: 6.3%
Russia🇷🇺: 1.1%
Brazil🇧🇷: 1.5%
Mexico🇲🇽: 2.1%
Morocco🇲🇦: 3.6%
KSA🇸🇦: 4.0%
Nigeria🇳🇬: 3.1%
RSA🇿🇦: 1.8%https://t.co/pzLIvHg5Ln pic.twitter.com/gCpVdsy8g5

— IMF (@IMFNews) October 10, 2023

The IMF earlier mentioned India’s growth from 6.1% to 5.9% for 2023 and 6.8% to 6.3% for the 2024/25 fiscal. China’s GDP growth forecast has been reduced to 5.0%, down 20 basis points from its previous estimated GDP growth for 2023 and by 30 basis points to 4.2% for 2024.
As per the report India with 6.3% GDP is a developing country with the highest growth rate.

Emerging markets and developing economies are expected to witness a modest decline in growth with 4.1% in 2022 to 4.0 percent in 2023 and 2024.

The post IMF raised India growth forecast to 6.3% in FY24 while China’s GDP growth downgraded appeared first on The Tech Outlook.

Love for Apple products is known to all of us but when it comes to the craze for it even a price over a lakh can not deter it. Ever since Apple launched the iPhone 15 series, stories of buyers’ craze have surfaced on the internet leaving everyone in awe. A disturbing visual from the Kamla Nagar Market in North Delhi has gone viral in which the two men can be seen assaulting two employees of a showroom.

It is said that when customers waiting for the iPhone 15 were informed that delivery would be delayed they decided to take matters into their own hands. They started beating up the staff members brutally and even ganged up to overpower one of the staff. Other staff members can be seen trying to save colleagues but even that didn’t help much.

A police official said that a case has been filed against both customers under sections of CrPC.

This is not the first such crazy incident that has come out. Just recently a report came out that said people are flying to Mumbai from places like Bengaluru and Ahmedabad to purchase Apple’s new series phone.

Even after flying such a long distance, they wait for hours in a queue to get their hands on an iPhone. It would be wrong to say that it’s only in India but in recent days a video of Emirates Mall of Dubai has also come out in which a crowd can be seen outside the Apple store to get their hands on an iPhone.

source

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A video regarding a giant asteroid that has crashed into the atmosphere over India has started to be shared widely on the internet.

Here’s what we know about it.

“A giant asteroid has crashed into the atmosphere over India”?

The video that is now being shared mentioning that “a giant asteroid has crashed into the atmosphere over India” is not expected to be true as there are no official reports or updates anywhere stating such an occurrence. The video is being shared on the Twitter platform and most of the tweets are being shared with this same statement mentioned above. The video is also being shared with other taglines as well on other social media and messaging platforms, but it should be noted that in anywhere the video it isn’t mentioned where or when the asteroid crashed into the atmosphere.

A giant asteroid has crashed into the atmosphere over #India. pic.twitter.com/eX4L06Fy4V

— Jack Straw (@JackStr42679640) August 14, 2023

Recently, the Perseid meteor shower was seen in the sky during the night of Saturday, the 12th of August, and the next day morning on the 13th of August 2023, and an article published by The Hindu mentions a person who was able to click six images of the Perseid meteor shower. A picture captured by him is given for reference below.

The Perseid meteor shower occurs annually during the months between July and August. The meteor shower occurs when the earth passes through the debris trails that originate from the comet named 109P/Swift-Turtle and the reason why it is called Perseid is because, it emerges from the direction of the constellation, Perseus. The meteor shower is clearly visible in the northern hemisphere and, as per a report, the countries of Austria, Turkey, Croatia, and Spain were able to witness this year’s Perseid meteor shower.

In order to capture the image or the video of the Perseid meteor shower, the person who is capturing should make sure that there is no light pollution and note, the person who managed to capture the meteor shower was only able to get the image on 6 photos of the 150 photos captured.

The video that is being shared is not at all similar to those images captured and, again, the authenticity of the video and the news is under question.

The post A Giant Asteroid Said to have Crashed into the Atmosphere over India: Is it True? appeared first on The Tech Outlook.