Apr 21, 2016 - RouteSMS expecting to raise Rs 500 crore from IPO

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Sree Vijaykumar From the Editor's Desk Can an algorithm be biased, possibly even racist? Today, algorithms decide how fast an Uber gets to you, whether you're approved for a loan, whether a prisoner gets parole, who the police should monitor. Ultimately, algorithms are products of human imagination, which means they can be biased. "Algorithms are like a very small child," says Suresh Venkatasubramanian. "They learn from their environment." Venkatasubramanian is a computer science professor at the University of Utah. He's someone who thinks about algorithmic fairness. Algorithmic accountability is a growing discipline across a number of fields. Computer scientists, legal scholars, and policy wonks are all grappling with ways to identify or prevent bias in algorithms, along with the best ways to establish standards for accountability in business and government. Who do you hold accountable when an algorithm makes a biased decision? More here - Comment RouteSMS expecting to raise Rs 500 crore from IPO RouteSMS will go on a “string of pearls” acquisition mode, on which it will spend Rs 400 crore to beef up its technology and cross-selling options, Gupta said. Advt: Goyal Orchid Whitefield, Bangalore 1/2/3 BHK apartments, starting from Rs 35 Lacs.   Advt: Godrej Infinity, Keshav Nagar, Pune Luxury 2/3 BHK apartments, from Rs 38 Lacs - Rs 92 Lacs.   Indian CXOs most likely to bend rules to achieve financial goals EY study shows 70% of Indian respondents will take to unethical means to achieve targets, as against 36% globally MUDRA Bank invests Rs 50 crore in securitisation deal with Janalakshmi Financial Services Its chief executive Jiji Mammen told ET that the newly formed refinancing bank was trying out new instruments to help MSMEs access capital market. Tide Water to buy UK-based lubricant maker Price Thomas Maker of Veedol and Eneos concludes an agreement to acquire Price Thomas Holdings for £9.59 million as part of its plans to expand overseas sales RBI eases pressure on banks; prunes list of firms whose loans need to be provisioned for Banks were forced to make substantial provisions in the December quarter following the AQR. Due to this, a number of banks reported record losses. Sebi likely to ease mutual fund advertising, promotion norms Rules may also be relaxed on standard risk statements and the format of commercials, fund branding activities Why India needs vibrant small enterprises The Narendra Modi govt must focus on enabling them for inclusive growth Energy PSUs to float $1 billion masala bonds Piyush Goyal informed investors that IREDA is coordinating a billion-dollar equity fund, perhaps the largest in renewable space. Overstating banking stress will debilitate lending: Vinod Rai Not all loan defaults are wilful, not all lending activity can be branded as corrupt or criminal, says Bank Board Bureau chief Vinod Rai FM Arun Jaitley takes a dig at Vijay Mallya, says banks should ensure no defaulter gets away Amid a row over recovery of debt from Mallya, Jaitley said it was responsibility of banks to ensure no defaulter manages to get away. Lack of promoters' interest stalled projects in India: DBS Of the projects being implemented, about 12% face renewed hurdles according to centre for Monitoring Indian Economy data. Holding overseas assets is not a crime by itself Being a shareholder of a foreign company is certainly not a crime, even if the company is controlled by you Don't overplay NPA issue to extent of debilitating lending: Banks Board Bureau chairman Vinod Rai The former Comptroller and Auditor General said not all loan defaults are willful and not all lending activities can be branded as corrupt practice or criminal misconduct. ICICI Venture raises $190 million for its fourth fund ICICI Venture will raise more capital for the fund over time Are Indian banks ready for the upcoming 'Uberization'? Existing banks and new challengers would increasingly engage, target and segment consumers on the new battleground – transactions, says a research report Rajan warns against 'euphoria' over Indian economy's fastest-growing tag Finance minister Arun Jaitley said in New York that India can grow faster than expected if forecasts of normal monsoon rainfall prove correct US think tank launches India-US trade initiative A top US think-tank has launched an India-US trade initiative aimed to strengthen economic ties and meet the two countries' bilateral trade target of $500 billion. Firms are now looking to invest in MFIs after RBI awarded small finance bank licenses The sector that makes credit accessible to the poor without collateral has started becoming more relevant to local corporations and institutional investors. Alibaba setting up India team for acquisitions In a sign of things to come, Chinese e-commerce giant Alibaba has begun the proce With focus on manufacturing , labour ministry pitches for jobs survey recast The findings of the survey are expected to be released in July, thus doing away with the lag of minimum three months, as has been the norm till now. Online marketplaces depending on algorithms to crunch data on customer behaviour Algorithms are responsible for customers browsing for goods being greeted with shopping recommendations. It decide what to display for online marketplaces. Sport merchandise start-up Zeven to open brand stores To adopt omni channel approachto reach customers Merchants Say Amazon Is Copying Their Products Amazon is selling products under its private labels that appear to be copies of smaller merchants' best-selling products. Metro Cash and Carry opens first wholesale centre in Surat, Gujarat The wholesaler has a strong base of customers across the country, including small and large kirana stores, entrepreneurs, small businesses, offices, companies and institutions. Taiwan's Asus plans big push in India Asus plans to double local production to 600,000 smartphones this year, made by contract manufacturer Foxconn in Andhra Pradesh. Quikr makes an investment to build its in-house logistics capabilities The firm has already built fleet of close to 100 delivery vehicles in Bengaluru India's first O2O shopping platform Fashalot raises pre-Series A funding Fashalot, an O2O location-based fashion and store discovery mobile platform has raised funding in pre-Series A. Why your Amazon delivery sometimes comes in a Walmart box And why some Amazon customers are pissed. KD Singh puts Republic of Chicken on sale - Poultry retail outlets business facing competition from unorganised segment Can e-commerce save the Indian farmer? eNAM hopes to go beyond the perfunctory, connecting mandis, enabling farmers provide information on what they want to sell, thereby eliminating middlemen. Ninja Van raises $30M to build a regional logistics network in Southeast Asia Singapore-based Ninja Van today announced $30 million Series B round aimed at building it into the go-to partner for anyone selling online in Southeast Asia. Put down the phone, that hoax call is not funny A Mumbai-bound Jet Airways flight was grounded at Ahmedabad’s Sardar Patel International Airport on Wednesday morning following a bomb threat. Indian telecom, allied services industry to generate 10 lakh jobs in 3 years: India Skills Report 2016 The India Skills Report 2016 is a result of a joint initiative of PeopleStrong, Wheebox, in collaboration with Confederation of Indian Industry, Linke.. Google abused mobile app market with Andriod: EU The stakes are higher in the Android case for Google which made about $11 billion from ad sales on Android phones with Google apps such as Maps, Search and Gmail last year. After WhatsApp, Viber Also Encrypts User Conversations NEW DELHI -- Days after WhatsApp introduced the long awaited end-to-end encryption to all users, instant messaging and Voice over IP (VoIP) app for smartphones, Viber has also decided to encrypt user Mobile Accounts for Rising Share of Ad Spend in India eMarketer estimates that about a quarter of digital ad spending in India will be mobile this year. Other estimates are less bullish on mobile’s share of the total, but more positive about overall spending levels. Chinese investors like Tencent, Cheetah Mobile and Baidu look to fund India's internet companies Chinese firms are dragging potential funding into companies until they can see the kind of sales growth that can fuel their ambitious expectations, th.. As e-furniture companies try to take on Flipkart, Snapdeal, focus on sourcing locally' The focus is on sourcing locally and tightening the supply chain to serve a specific region to reduce costs of logistics and returns. TradeBriefs Publications are read by over 10,00,000 Industry Executives India Business Brief | India Retail News | India Food Brief | India Telecom Brief | India Finance Brief | India Software Brief | India Digital Brief | India Ecommerce Brief | India Franchise Brief | India HR Brief | India Logistics Brief | India Construction Brief About Us  |  Advertise Privacy Policy    Unsubscribe You are receiving this mail because of your subscription with TradeBriefs. Our mailing address is GF 25/39, West Patel Nagar, New Delhi 110008, India