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Jio announces US$15 million investment in Two Platforms Inc:

Jio has made a huge contract. Giants Jio Platforms Limited (Jio) has declared an investment of US $ 15 million (about Rs 112 crore) in Silicon Valley-based deep tech startup Two Platforms Inc (TWO). This investment has prevailed brought about a 25 percent stake in Two Platforms Inc. This is occurring supposed a big deal for Jio. JIO

What is the plan of both the companies?

TWO is an artificial reality company with a priority on interactive and immersive AI experiences. Subsequently text and voice, TWO believes that the future of AI lies in the visual and interactive. TWO’s artificial reality platform creates real-time AI voice and video calls, digital humans, immersive space, and realistic gaming. TWO plans to take its interactive AI technologies to buyer applications first, obeyed by entertainment and gaming as well as enterprise solutions containing retail services, education, health, and wellness. Jio and Two will work jointly: TWO’s founding team has several years of leadership experience in research, design, and operations with leading global technology companies. Its founder is Pranav Mistry. TWO will work almost with Jio to build new technologies such as AI, Metaverse and, Mixed Reality. Talking about the investment, Akash Ambani, Director, Jio, said, “We at TWO are instilled by the powerful experience and capabilities of the founding team. We will work nearly with Two to assist stimulate the growth of new products in the areas of interactive AI, immersive gaming, and the metaverse. TWO CEO’s Pranav Mistry also conveyed prosperity over this deal and expressed his excitement to work closely with Jio. White & Case functioned as legal advisor to Jio for this agreement.

What does Ambani say on investment?

Speaking on the investment, Akash Ambani, Director, Jio said, “We at TWO are affected by the big experience and abilities of the founding team. We will work approximately with Two to help accelerate the development of new products in the areas of interact- ive AI, immersive gaming, and the metaverse. Two’s CEO said: Mistry may also have a chance on the deal as TWO goes on. The connection is acted as the legal chancellor for this transaction. Reliance Jio has declared an investment of US$15 million in Silicon Valley-based deep tech startup Two Platforms Inc. Jio has generated this investment to acquire a 25% stake in Two Platforms Inc. TWO’s founding team has many years of leadership experience in research, design, and operations with leading global technology companies. Its founder is Pranav Mistry. TWO will work closely with Jio to build new technologies such as AI, Metaverse, and Mixed Reality.

Future of AI, the visual and interactive world: Two (TWO) is an artificial reality company with a priority on interactive and immersive AI experiences. After text and voice, TWO believes that the future of AI lies in the visual and interactive world. Its artificial reality platform enables real-time AI voice and video calls, digital humans, immersive space, and lifelike gaming. TWO plans to take its interactive AI technologies to customer applications first, followed by entertainment and gaming as well as enterprise solutions including retail, services, education, health, and wellness.

Jio is the foundation of India’s digital transformation: TWO CEO Pranav Mistry

TWO will work closely with Jio to accelerate the adoption of new technologies and build technologies such as AI, Metaverse and Mixed Realities. On this, Pranav Mistry, CEO, TWO Platforms said, ‘Jio is the foundation of India’s digital transformation. We are excited to partner with Jio to push the boundaries of AI and introduce applications of artificial reality to consumers and businesses.’

The market cap of Reliance Industries is Rs 15,77,382.90 crore.

It is known that today the stock of Reliance Industries Limited closed at the level of 2331.80 with a fall of 20.90 points or 0.89 percent on the Bombay Stock Exchange (BSE). At present, the company’s market cap is Rs 15,77,382.90 crore. 

Let us tell you that Jio Platforms Limited, a subsidiary of Reliance Industries (RIL), operates India’s largest mobile network Jio and other digital businesses of RIL.

 

Ashneer Grover seeks removal of CEO Suhail Sameer from BharatPe’s board

Ashneer Grover, founder and managing director of BharatPe, has asked the company’s board members to remove CEO Suhail Sameer from the board.

In a note to the board members dated February 2, Grover wrote, “I, now, in exercise of the power vested in me by Clause 3.7 of the SHA and Clause 91.7 of the AoA do hereby withdraw my nomination of Suhail Sameer as a Director nominated by me to the Board of Directors of the Company.” ET has reviewed the document. Sameer, who was hired by Grover in 2020, was made chief executive of BharatePe in August 2021. Grover had assumed the role of managing director around the same time. Interestingly, the letter also includes the consent of BharatPe’s other cofounder Shashvat Mansukhbhai Nakrani to remove Sameer from the board. Bharat Pe’s agreement says that each founder has the right to nominate other person as the director (instead of herself/ himself) prior to the consent of the other investors presenting the majority investor threshold. On Friday morning, ET reported that a preliminary investigation by Alvarez and Marsal (A&M) commissioned by BharatPe’s board had found evidence of financial irregularities around recruitments and payments to non-existent vendors. The report by A&M, dated January 24, said BharatPe pays recruitment fees to a number of ‘consultants’ for employees recruited through them. “In five sample cases, the employees have confirmed their date of joining as slated in the vendor invoice. But they have denied being recruited or engaged through the stated consultant or any knowledge of them,” said the report, which has been reviewed by ET. The report also said Grover’s wife Madhuri Jain received at least three of these invoices herself and forwarded them to the company for payment. The invoices were created by Shwetank Jain, Jain’s brother, the report added. Apart from having the same typeface, these ‘irregular’ invoices also had similar physical addresses, and some even named the same bank branches, A&M’s investigation found. “All of them appear to have a ‘Panipat connection’. It may be mentioned that Madhuri Grover is originally from Panipat,” the report read.

On the other, BharatPe Board is about to accept cofounder Ashneer Grover’s payout demand unlikely amid a battle between the two parties. Expected to lead to a complex legal battle between Grover and the Fintech Startup’s Board. Another shocking arrives, Grover about to leave BharatPe without compensation. Grover has also hired New Delhi Law firm Karanjawala and Co. mounting pressure on him to leave the company permanently. Since then, initial findings of an preliminary investigation conducted by Alvarez & Marsal commissioned by BharatPe’s board has found evidence of financial irregularities around recruitments and payments to non-existent vendors. Emails sent to Insight Partners and Ribbit Capital did not elicit a response. Sequoia Capital India, which owns nearly 20% in the firm, said it had no comment on the ongoing controversy. BharatPe board chairman Rajnish Kumar and board member Kewal Handa declined a request.

UGC made new headlines on National Higher Education Qualification Framework

The University Grants Commission (UGC) has transmitted the design National Higher Education Qualification Framework (NHEQF) prepared to the state governments and universities.
The current academic session is taking off to make a big difference to the Indian education system. In the educational session 2022-23, all universities and higher educational institutions are getting on to get the entry-exit facility in undergraduate, postgraduate and, doctoral programs under the new policy 2020.

At the same time, the student will be prepared to alter from evacuating studies in the middle to university according to his comfort (Portable Facility). Interestingly, from where the student will drop out in the middle, there will also be a choice to publish it within 7 years. Later schooling, now higher education will similarly be established on learning consequences. Each year there will be an examination assessment based on knowledge, ability, and competence.

UGC

Notably, at least 20 values per semester will be necessary, but universities will be lent the freedom to improve the value record standards. The University Grants Commission (UGC) gives birth to sending the draft National Higher Education Qualification Framework (NHEQF) willing to the state governments and universities.

The National Higher Education Qualification Framework is getting on to begin from the impending session from the Central Universities. Later this, state universities will moreover be comprised from next year.

Now UG and PG design will be like this:

The undergraduate program will be in three- and four-year degree programs. Certificate on completion of the early year, Diploma on completion of the second year, Bachelor’s degree on completion of the third year. Subsequently, the four-year degree program will also be expanded to this. If a student wishes to do honours, then he will have to study for the fourth year. The choice of pursuing Honors will be available to all students.
Nonetheless, after finalizing the third-year degree program, if a student expects to make a future in the research field, he/she must have a CGPA of 7 in the third year. This, after finalizing the fifth year of studies, he will get a PG diploma and after completing the sixth year he will get a master’s degree. Now the name of these degree programs will be Graduate Attribute and Graduate Profile.

Research field studies in bachelor degree then directly PhD:
If a student also opts for a research area in the undergraduate program, then he will not require to do post-graduation. Relatively he will be prepared to rapidly enrol in a PhD program with a UG research degree. Students with BA, BCom, BSc will be able to continue multidisciplinary studies in the second and third years. The examination-based assessment will also furnish a choice for multidisciplinary studies.

Lateral entry option in the second year also:
People who are employed or performing their work will also obtain the selection to finalize the degree. Those who remembered dropping out in the middle unpaid to household or any additional crisis will also be encompassed in the mainstream of education.

For instance, people involved in any additional skilled work comprising automobile, electrical, mechanical will receive an opportunity to study technical degree programs like BTech or BE. There will be an alternative for this in the second year of the UG program. Nonetheless, before admission, those who dropped out years since will retain to ratify a test to be prepared to join the mainstream of education.

Knowledge of community assistance along with ethical education along with books: In this modern age course, apart from bookish knowledge, professional knowledge, skills, a makeover of students will similarly be done. In this, they will have to do mandatory studies and empirical fieldwork especially in moral education, community service, internship, etc. For this objective, they will also get tricks of bargaining with colleagues while operating with home, family, society, country.

Now there will be grade not division in degree:
There will no longer be a division in a degree. For example, grades have overcome fixed from 10 to 4. In this 10 will be terrific, 9 excellent, 8 very good, 7 rough, 6-5 average, and 4 passes. All below this would be the failed classification. There will be 10 levels from school to postgraduate. Of this, one to four are for school education and five to 10 for higher education.

The first year in the undergraduate program will be level 5, with 40 credits, level 6, 80 credits in the second year, 120 credits in level 7, 160 credits in level eight. At the same time, the first year in the PG program will be level eight 40 credits in diploma, level nine 40 credits in the second year, and level 10 doctoral program i.e. PhD.

Job Training for Diploma and Certificate holders:
If a student drops out of the first and second year due to any motive, then a two-month bridge course will be performed in the summer. This will be for 10 credits. In this, he will get training to relate with the job.