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Canon EOS R6 Mark II With 24.2-Megapixel Sensor, 40fps Burst Shooting Launched in India: Price, Details

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Canon EOS R6 Mark II

Canon has officially launched its latest camera Canon EOS R6 Mark II with an approximate 24.2 MP full frame CMOS sensor and 40fps Burst Shooting. The global launch of Canon’s latest offering comes as the successor to Canon EOS R6, a same series camera body that made its first appearance in the market in 2020. The EOS R6 Mark II has been designed and developed to provide some key upgrades over its predecessor. Eager customers should an upgraded expect sensor resolution, better burst shooting capabilities, enhanced autofocus function, and improvements in video recording features.

The leading imaging technology company has also recently launched its new RF135mm f/1.8L IS USM prime lens. According to the company, the new RF135mm f/1.8L IS USM prime lens is currently the only lens in the market that has this focal length along with inbuilt optical stabilisation technology. The L series prime lens is reportedly dust, water and shock resistant which gives it the ability to be an all-weather product. It also comes with professional-grade glass.

The new RF135mm f/1.8L IS USM prime lens will be available for Rs. 2,19,995 in India. However, the timeline of availability in the region is yet to be decided and announced by the brand.

In India, customers will have to spare Rs. 2,43,995 to get their hands on the Canon EOS R6 Mark II (just for the body). The Canon EOS R6 Mark ll price in India would include the body and the lens kit. The camera is globally also available in two kit lens options, the RF24-105mm f/4L IS USM premium kit lens or the RF24-105mm f/4-7.1 IS STM kit lens, both of which will be available for Rs. 3,43,995 and Rs. 2,71,995, respectively. According to Canon’s latest announcement, both the camera and its lens bundles are in all probability will be available for Indian customers in the stores by the end of November 2022.

The design and control layout (buttons) have been through many changes from its predecessor in Canon EOS R6 Mark II. The camera body comes with an OLED electronic viewfinder along with a 3.69 million-dot resolution and 5-axis sensor stabilisation.

The company claims that the EOS R6 Mark II has been crafted to have a better autofocus system as the camera now would showcase enhanced subject detection with the help of AI deep learning technology.

Canon EOS R6 Mark II

To have a better understanding of what all the new Canon camera is providing, below are some of the key Canon EOS R6 Mark ll specifications:

  • AF Modes – One-Shot AF, AI Focus AF, Servo AF
  • AF Point Selection – Spot AF, 1-point AF, Expand AF area (above/below/left/right or around), Flexible Zone AF 1 / 2 / 3, Whole area AF
  • AF System Points – Maximum 1053 AF frame zones (Stills/Movies)
  • Continuous Shooting Speed (shots/s) (Up to) – Mechanical shutter & Electronic 1st curtain: 12 Electronic shutter: 40
  • Digital Zoom – Digital Tele-converter x2.0 & x4.0
  • Exposure Compensation – ±3 stops in 1/3-stop or 1/2-stop increments; AEB: ±3 stops in 1/3-stop or 1/2-stop increments
  • Eye Detection AF – Auto/ Left Eye/ Right Eye (Auto, People and Animal AF mode)
  • Image Stabilizer – In-body 5-axis sensor-shift image stabilisation (Still/Movie) Movie Digital IS
  • Peripheral Connections – USB Type-C (SuperSpeed Plus USB (USB 3.2 Gen 2) equivalent), External microphone IN, Headphone terminal, HDMI micro (Type D), Remote control (BR-E1 via Bluetooth connection)

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Fire-Boltt Ropes In Dhoni as Its New Brand Ambassador

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Fire-Boltt
Fire-Boltt

In Brief

Fire-Boltt is one of the biggest homegrown wearable and audio brand that has acquired a considerable level of popularity over a short period of time for obvious reasons as its smartwatches have been extremely well received.

The company has dropped a bombshell for its users and cricketing aficionados by appointing Indian Cricketing God, Mahendra Singh Dhoni, as its new brand ambassador. The addition of Dhoni has proved to be a turning point in the company’s aggressive marketing & endorsement plans for the country.

Fire-boltt

The living legend, one of the best cricketers on the planet, will be the leading face of the brand and will play a key role in a variety of marketing, advertising, and endorsement activities for Fire-Boltt.

This strategy has once again taken the company to the top spot in the Indian smartwatch market with a market share of 28%, which is a huge achievement for the smartwatch brand that will boost its fortunes to a whole new level.

Mahendra Singh Dhoni is a living legend for a big reason as he has made a name for himself in a sport that is considered no less than a religion in India, along with movies, and it isn’t because of his cricketing skills that are way too obvious.

The man has captivated cricket fanatics across the globe with his helicopter shots & technical brilliance on the ground. Dhoni is renowned for his reliability and praised by his peers, while he is revered by many youngsters that view him as an inspiration.

However, this partnership will not only allow the Fire-Boltt brand to aggressively expand its footprints across the country but will also strengthen its identity as the most reliable smartwatch brand in India.

Being the no.1 brand in the market and receiving an exemplary response from the consumer base, the association with MS Dhoni will further help Fire-Boltt reach a wider audience not only in India but act throughout the world.

This partnership will play a crucial role in bolstering the brand value as the smartwatch market is growing at a rapid pace and the brand aims to set a benchmark in the smartwatch industry in the near future.

Talking about his association with the brand and the smartwatch, Cricket Superstar Mahendra Singh Dhoni, said, “Fitness plays an important role in my life. Being an athlete, consistency is important. Fire-Boltt’s range of smartwatches assists people in performing the right amount of workout regimes. I’m glad to be associated with a brand that has a global appeal.”

Commenting on this achievement, Arnav Kishore, Founder & CEO at Fire-Boltt asserted, “We are extremely passionate about the addition of MS Dhoni to our group of inspiring ambassadors, he is a natural fit for the brand. The impeccable personality of MS Dhoni and his continuous fame marries well with our vision to carve a niche for ourselves in the fit-tech space. MS Dhoni is one of the most respected cricketers in the world of cricket and he remains to be an idol for aspiring cricketers across the globe. The association with this iconic wicketkeeper, captain, batsman, or one may say a living legend, reflects our unwavering commitment to offering people the best solution to their smartwatch woes.”

Adding to the excitement, Aayushi Kishore, Co-Founder, Fire-Boltt, said, “The ethos of Fire-Boltt to foster a wholistic experience for each & every customer has been deeply imbibed in all the initiatives that we undertake here and MS Dhoni embodies Fire-Boltt’s fitness heritage seamlessly. From the factory level to the top management, true & cohesive efforts are reflected in all of our products, communication, branding and our customer relations. With this association, we wish to accentuate our capabilities and become a household name just like Mahendra Singh Dhoni.”

The sibling duo further added, “Our team’s relentless persuasion and the intuitive quality to remain agile have laid the foundation of our phenomenal growth and this also led us to become the no. 1 brand in the smartwatches market.”

Fire-Boltt

Conclusion

This collaboration is surely going to yield excellent results as many users will surely get to buy a product endorsed by their favourite cricketing star, thereby ensuring a long run for Fire-Boltt in the coming years.

Also Read: Fire-Boltt Ring Pro with Pin Lock, Split Screen and 25 sports modes launched in India

Ethereum Merge: Crypto Industry Breakthrough?

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Ethereum Merge
Ethereum Merge

In Brief

Money has been a medium of exchange for a long time when it overtook the barter system in this matter. Every country has its own official currency through which its citizens can make purchases in that particular country as long as they’re in it.

Dollar is the official currency for US, Canada, Australia, and New Zealand, while pounds is the currency for UK and Rupee for India. Cryptocurrency is a term that originated around a decade ago.

Cryptocurrency is an unofficial currency, which means that it is not regulated and watched over by the central bank of any country, unlike the official currencies mentioned above. For example, Rupee is regulated by the Reserve Bank of India (RBI), which is the country’s central bank.

Bitcoin is the world’s most popular cryptocurrency, with Ethereum being a close second, both of which have acquired cult status for many years by becoming the proverbial currency exchange for many people.

The crypto industry has seen many ups and downs in the past decade and a half but the market has been under pressure since late 2021, which had become a matter of serious concern for Bitcoin and Ethereum users.

Ethereum merge

Fortunately, there has been a huge software upgrade for Ethereum, which is to be expected considering how big of a crypto platform it is. The upgrade has been termed ‘The Merge’, which is a long way in the pipeline since it was announced way back in 2014, which led to many crypto experts speculating whether a consensus strategy was in the offing, which is also energy efficient.

Ethereum Merge was termed as a migration that would shift Ethereum from its current Proof-of-Work (PoW) system to a Proof-of-Stake (PoS) system, which has not only slashed energy consumption by a whopping 99.95% but also led to massive improvements in the core infrastructure.

PoW and PoS play the role of protocols whose job is to validate transactions and keep blockchain network secure and decentralized where the former is a mechanism used by bitcoin to regulate block creations and network integrity via mining process, while the latter is an alternative consensus mechanism that delegates network control to the given token’s owner.

Ethereum Merge has proven to be a major breakthrough in the crypto industry as it has increased the security of Ethereum because an attacker needs 51% of the blockchain value in order to take control of the currency.

Even in the unlikely event of getting a 51% attack, the attacker can not only be instantly identified and ejected from the system in a jiffy, but also penalized severely like destroying all the stakes he owns.

Ethereum

Conclusion

All in all, Ethereum Merge will become a landmark by invigorating further research between the congress and crypto industry, which’ll lead to both collaborating together for future prospects while federal agencies will be at their disposal for providing technical assistance.

Also Read: BTC, ETC Hit With Losses as Overall Crypto Market Cap Drops By 0.86 Percent in 24 Hours

CoSoSys Endpoint Protector; Data Loss Prevention Security

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CoSoSys
CoSoSys

‘We believe in putting our clients’ needs first: many of the improvements to our products are a direct consequence of feedback sessions with clients. Our solutions continually evolve to deal with real world conditions and to ensure that compliance is met with new legislative changes’- Filip Cotfas, Channel Manager, CoSoSys. In Conversation with Divya Mohindroo, My Mobile.

At first, we would like to know what CoSoSys is known for and how it is helping businesses to flourish.

Endpoint Protector by CoSoSys is a top-recognized enterprise-grade DLP software in India and globally for Windows, macOS, and Linux computers, Thin Clients, and Desktop-as-a-Service (DaaS) solutions. The solution is an ideal choice for companies running on multi-OS networks, and it has a modular format that allows them to mix and match the right tools to serve specific needs.

So, what is the importance of cross-platform data loss prevention, and what is the one unique thing that makes CoSoSys stand out from its competition?

Endpoint Protector has been offering cross-platform support for many years, and this has been helping many companies that rely on macOS and Linux and are otherwise left unprotected.

India is a massive market to deal with, so we would like to know your experience while working in India & what the challenges you face while dealing with Indian businesses are.

Being a vast region, it is important to understand the differences between each state/region and have the right partners enabled in each region; the approach we take will be adapted based on these factors, and we adjust depending on the region.

Please tell us about the Endpoint Protector Solution by CoSoSys, its latest update, and how it is helping businesses.

The latest update of Endpoint Protector adds a host of new features to help organizations better protect their sensitive data from insider threats, accidental loss, and compliance breaches.

Such new features are User Remediation for Device Control, Network Printer Detection, Control Personal Google Accounts, and Advanced Content Detection (Thresholds).

CoSoSys, Endpoint Protector Solution has been ranked first in the G2 Fall 2022, so we’d love to know how you reached the topmost rank.

Endpoint Protector has been rated #1 for Data Loss Prevention Configuration in the G2’s Fall 2022 Reports, earning a total of over five badges across various categories: Leader, Momentum Leader, Leader for Mid-Market, and High Performer for Enterprise.

We were named a Leader in the G2’s Fall Reports based on the customer reviews received in the last months.

With an Overall Satisfaction Score of 87 out of 100, our DLP solution stands out as the most appreciated product in the industry. The Satisfaction Score takes into account multiple indicators from the review data to provide a single score (beyond just star ratings) that shows how happy our customers are about using Endpoint Protector. The Satisfaction algorithm also weights for the number, recency, and quality of reviews.

CoSoSys Endpoint Protector

What is CoSoSys’s strategy to expand in India, and how vigorously are you working on it?

We are constantly working on recruiting and enabling select partners that share our values and vision. Through these partners, we reach many organizations struggling with data protection. We always consider the Indian market and the feedback we receive from our customers and partners receive when drafting the product roadmap.

The concept of data loss protection is a bit complex for the majority of Indian businesses, so how are you planning to combat this challenge?

Over the past years, we’ve seen a big increase in security awareness, and companies are proactively getting educated on the latest technologies; however, there is still a lot of confusion between different types of solutions and where they overlap or work together; we have been working relentlessly over the past years with the Indian media to produce a lot of valuable content that can help bring clarity and inform the customers on the right solutions for their challenges.

At last, we would love to know your expert overview and projection on the concept of Cross-Platform Data Protection in India and how much potential you see for it in the Indian B2B market.

A large part of Indian organizations uses a mixed environment of Windows, macOS, and Linux. We have been working with many of them on filling the security gaps. Many companies are protecting their Windows computers, but the macOS and Linux are left unprotected. This is where we fill the security gap and provide one centralized cross-platform DLP to ensure that all the endpoints are safe and that the sensitive data will not leave the company’s data regardless of the endpoint OS.

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OTT to be Authenticated for Streamline Onboarding; Identity Verification

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Oneplus 9RT Alternatives To Buy In India Under Rs 45,000 https://www.mymobileindia.com/oneplus-9rt-alternatives-to-buy-in-india-under-rs-45000/

In Brief

In the past decade or so, technology has undergone a vast change, which has also impacted the entertainment industry as it is a huge medium that guarantees maximum popularity in India and abroad.

Earlier, people used to go to theatres to watch movies, regardless of the exorbitant ticket prices, not to mention the cost of popcorn, soft drinks, and other eatable items, as they just wanted to see their favourite stars beating the crap out of the villain.

All the audience wanted was a 3 hour entertainment in the theatre where they could momentarily forget all their worries and problems in life by sitting back and enjoying the movie stars do impossible feats of strength and get the girl in the end.

However, the OTT revolution changed everything, as everything began to be available on OTT (over-the-top) platforms where you just needed to subscribe to the channel and watch any movie you wanted, as long as it is available.

OTT

Then came Covid-19 in early 2020, due to which people had to be under lockdown for nearly a year, which meant theatres too had to close down and thereby incur huge losses, whilst the digital world benefited massively in terms of finances as people could watch new releases directly on OTT platforms.

OTT platforms have seen a massive rise in viewership in the past few years, although its users have to deal with several security issues as well due to OTT services falling prey for revenue frauds and identity thefts.

This is why OTT verification is important as it confirms the users’ identity via use of digital verification technologies, through which content providers can verify that access to resources are given to the correct user.

Users can avail identity proof techniques to reduce fraud caused by identity theft, which will considerably reduce loss of revenue. During the lockdown period of 2020-21, OTT subscriptions skyrocketed as internet became the second home of the entertainment starved people that were pining to go to movie theatres.

More number of subscriptions meant new users due to which the OTT platforms had to manage many user IDs but there were many that did not prioritize secure onboarding and had most resources allocated to towards managing the countless identities interacting with the platforms, which led to huge losses in millions of dollars and compromising identities.

Identity fraud has been a common practice with many users creating fake identities or impersonating real people to subscribe to OTT platforms for the sole purpose of enticing and committing fraud by luring innocent victims into their trap.

Therefore, every OTT platform like Netflix, Amazon Prime, Hulu, etc. needs to have a User Identity Verification through which millions of identities can be managed without compromising user experience.

Advantages of Identity Verification

Users can avail multi-check authentication as the ever growing data breaches and impersonations has increased the responsibility of OTT platforms for implementing strong authentication measures.

OTT

A big reason why portals lose their subscription base is that registration results in weariness that media platforms have to recognize because no user will be willing to give a slew of personal and delicate information at once, especially while signing up, which is why the subscription form should be short so that sign-up process can speed up.

Due to the growing access to OTT content, the entertainment industry has to come up with age specific content, apart from coming up with age limitations due to which user experience can be improved.

Also Read: Recent OTT Releases, All Details Inside

Tech News Wrap: WhatsApp View-Once Messages and more

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Tech News Wrap
Tech Wrap

WhatsApp View-Once Messages

WhatsApp is one of the most reliable messaging platforms we have today that had withstood the test of time for more than a decade. It can be considered the most popular in the category of applications of its ilk.

Despite receiving competition from Telegram and Signal, WhatsApp continues to maintain its relevance and a big reason is that its owner, Meta, continues to update its features at regular intervals so that it works well for the new generation.

Even a two year old iOS is considered outdated these days, so it becomes important to for a platform like WhatsApp to bring out new features or at least upgrade them to cater to the fickle tastes of the users.

In the midst of it all, the latest news is that WhatsApp view-once message functionality will no longer be available on their WhatsApp Web/Desktop, Windows WhatsApp, along with WhatsApp beta for macOS.

The reports suggest that due to the view-once feature, the screenshot blocking functionality will no longer work, which is why the makers decided to remove it from the desktop.

Tech News Wrap

The view once message option provides an additional layer of security as the messages can be opened and screenshotted on the desktop, while the sender’s privacy can be put into jeopardy, while the recipient can no longer take a screenshot of the message once it has been accessed on PC due to WhatsApp upgrades.

WhatsApp has come out with four new features to enhance user experience: establishing in-chat polls ability, Communities on WhatsApp, Groups for up to 1024 members, and 32-person video conferencing.

Also Read: Why WhatsApp Banned 26.85 Lakh Accounts in India in September?

Apple’s First Foldable Device to Debut in 2024, Envisions Samsung

Samsung has recently come out with its first foldable smartphone model viz. Galaxy Z Fold 4, in August 2022 and it held a meeting later in November of the same year with its component suppliers where it discussed the possibilities of taking the strategy of foldable smartphones forward.

Samsung is envisioning that Apple will come out with its own foldable devices by 2024, although the tech giant isn’t sure if its Cupertino based counterpart will start out with smartphones and strongly believes that it will begin with tablets and notebooks.

The demand for Samsung foldable smartphones has increased manifolds in its home turf of South Korea, where it has been found out that iPhone users in the age group of 20-30 are swiftly switching over to Samsung foldable models at a much higher rate of four to five times in the past few years.

Foldable Smartphone

Samsung has gone on to confirm that nearly 95% of foldable smartphone users are probable to buy new foldable smartphones as their next device as well, where the tech giant also took mocking potshots at Apple over the issue through an ad.

The ad in question had a premise where Apple fans are eagerly waiting for the launch of a foldable iPhone but have to wait, while Samsung has raced ahead in terms of foldable smartphones, implying that Apple users will have a long wait before getting their foldable iPhone.

Amazfit Band 7 Launches in India; Special Introductory Price Included

It is very important for people of all age groups to take care of their health in this day and age, especially as food, water, and air, which are the three basic necessities essential for survival, have become replete with pollutants, which is why it is up to the individual to know that he is eating and drinking healthy stuff, and inhaling pure and clean air.

Luckily, there are many electronic devices to keep our health in check like smartwatches, with Amazfit being an excellent example in this regard as its new model, Amazfit Band 7 will soon be launched in India, which has also been dubbed as a ‘fitness tracking band’.

While it premiered on Amazon.com in July 2022 in the US at a starting price of $45, it will have an Indian launch on Amazon.in very soon. It will come with a 1.47 inch AMOLED display that is estimated to have an 18 day stay of ‘normal’ usage per charge.

Tech News Wrap

Its colour options are said to be black and white, although there are equally strong rumours that blue and pink too will be included as well. The fitness tracking brand will be available on Amazfit India’s official website for Rs.3,499, along with a discount offer of Rs.2,999.

Amazfit Band 7 will also sport a 120 sports mode fitness tracker ahead of its next regional release, which the company has specified will be available only on the day of its launch, which is speculated to be around November 8, 2022.

Also Read: Amazfit GTR 4: Everything you need to know !!

Garena Free Fire Max Redeem Codes for November 7

When it comes to mobile gaming ventures, we all are spoilt for choice due to the huge diversity of genres we have at our disposal but youngsters are more attracted to blood, gore, and violence more than anything.

They are more into action adventures that provide them the much needed thrill and adrenaline rush, and there are many games in that genre like Garena Free Fire Max, which is the spiritual sequel to Garena Free Fire that has surpassed its erstwhile predecessor in popularity.

Free Fire Max has special effects that are much more advanced, graphics, and animations. The players can make use of the redemption codes to not only clear the difficult levels but also win rewards in return like arms, weaponry, costumes, skins, etc. along with other souvenirs.

Free Fire Max

The redemption codes can be accessed on the Rewards Redemption Website every 24 hours following which the site is refreshed to make way for new codes. Garena Free Fire players with an existing account can also login to Free Fire Max using that account as well.

Unfortunately for Indian users Free Fire Max has been banned in the country and is only accessible to Android users, which is why iPhone users cannot download it from the App Store, while Android users can download it on their Google Play Store.

The redeem codes for November 7, 2022, are as follows:

1- 1ZCYHNCVBLNFC

2- BHJSKOI87YT2F3

3- V4RB5NT6MYLHO

4- BVCUYAQRED12X

5- C34V5BTNYHKBIV

6- UHDGBER5T6NY

7- HBVICGDVER5BT

8- 6NYHBVC09ISUYQ

9- ZQD2FTVGBHNWH

10- OU5BNTMKPUJ0SY

11- 9T8GQ7R5E1D2C3

12- VB4N5TJMGKIVU8

13- 7CYX6T5RAEQD1C 

Oneplus 9RT Alternatives To Buy In India Under Rs 45,000

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Oneplus 9RT Alternatives To Buy In India

The OnePlus 9RT smartphone was among one of the famous smartphones of 2022. After being one of the ‘no brainer’ picks for the majority of the users, it was in the news for the past few weeks and hence discovered that the Oneplus company has discontinued the production of the OnePlus 9RT. This OnePlus smartphone launched in the beginning of 2022 was successful in creating an enormous buzz and mostly every phone reviewers reviewed the performance of this phone. The tech gurus have scrutinised this phone extensively enough for us to conclude that the OnePlus 9RT was the indomitable option for the population. This Oneplus smartphone operated through Android 11, along with having a balanced and stable software that makes it a good pick with the starting price range from ₹ 42,999.

However, the discontinuation of this well-appreciated smartphone has just brought the users back to square one to pick the next best alternative. As the Android market has a vast variety of smartphones with possibly similar or slightly improved performance potential than the OnePlus 9RT can help you in decision making. The further mentioned listicle will be representing some widely talked alternatives to the OnePlus 9RT smartphone.

Samsung Galaxy S21 FE

This smartphone from Samsung with a starting price of Rs. 44,990 equivalently loved by the users. Samsung Galaxy S21 FE helmed by Android 12 with excellent performance and 12 MP + 12 MP + 8 MP Triple Primary Cameras and 32 MP Front Camera to assist in producing sharp images and outdoor shots has many other features that can concrete your opinion in favour of this phone, including high water resistance, great battery retention, and 5G network support. Moreover, its reliable and effective software updates makes this phone somewhat a step ahead of the OnePlus 9RT model.

Motorola Edge 30 Pro

Motorola launched its next phone after changing its strategies and came up with the Motorola Edge 30 Pro that can be accepted as a good alternative of Rs 43,999 and will have mostly all the satisfactory features. It has a snapdragon8 gen1 processor that ensures effective working of the device. Moreover, Motorola provides bloat free Android smartphone experience, along with Rear Camera: 50 MP + 50 MP + 2 MP and Front Camera: 60 MP, guaranteeing clear and vivid images.

Oneplus 9RT Alternatives To Buy In India

iQOO 9

This is another alternative to the OnePlus 9RT which has possibly everything that one is looking for in smart smartphones and it will cost the user around Rs 42,990.  With Snapdragon 888+, features embedded deliveries well on the price, and fast charging. Moreover, iQOO 9 has excellent camera features and an embedded Android 12 system.

Conclusion

The Oneplus 9RT was celebrated worldwide; however with the declaration of this smartphone going out of stock we tried to pay your heed towards ‘what can be the next possible choice’. Besides the aforementioned alternatives we would like to add OnePlus 10T and Xiaomi 11T Pro that fit into the given price bracket of Rs 45,000.

NHAI Will Now Accept Electronic Bank Guarantees, Aims to Adopt Digital Tech in its Workings

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NHAI

The National Highways Authority of India (NHAI) will now accept Electronic Bank Guarantees (E – BGs) along with digitising all its existing Bank Guarantees, the Ministry of Road, Transport & Highways revealed in an official statement. This endeavour is a step to improve the efficiency and transparency of internal processes. It will also facilitate more usage of digital technology, which is an aim aligned with the government of India’s digital economy push.

“To further improve efficiency and transparency of internal processes and take forward the adoption of digital technology, NHAI has started accepting Electronic Bank Guarantees (E-BGs) and has also digitalized all its existing Bank Guarantees. NHAI is utilizing the E-BG services of National e-Governance Services Limited (NeSL), which facilitates reduction in physical paper movement, elimination of physical storage needs and easy access for Bank Guarantee life cycle events like invocation, renewal and closure.  Few E-BGs have already been issued by the Banks in favour of NHAI,” says the official ministry statement.

The official statement also included a word from Alka Upadhyaya, Secretary, Ministry of Road Transport and Highways & Chairperson NHAI. Upadhyaya said in the statement, “Keeping in view the advantages of E-BGs, we encourage the concessionaires to adopt E-BGs. This is in line with the spirit of ‘Digital India’. E-BGs promote transparency, bring in several efficiencies and provide ease of doing business to our stakeholders.”

Bank Guarantees are a type of commercial financial instrument which works like a legal contract that binds the bank as a guarantor in situations where the debtor of the original contract defers from payment or fulfilling other obligations under the contract. Bank as a guarantor settles the amount in such a situation.

NHAI

NHAI or any similar central agency or organisation needs Bank Guarantees to ensure contractual obligations are faithfully met. There are many challenges often noted in the traditional physical form of Bank Guarantees such as it has a time consuming verification process and a great possibility of fraud. Nevertheless, NHAI has been effectively handling physical Bank Guarantees issued for a long time and has developed a well-throughout internal processing mechanism.

In another separate news, the National Highways Authority of India’s (NHAI’s) infrastructure investment trust (InvIT), according to a close source word circulating in the media, will tap the capital markets once again in a bid to fund road projects that were previously acquired from the state-run highway developer. The organisation is planning on raising as much as Rs 5,000 crore for the mentioned infrastructure projects. This will be the third round of fundraising by the NHAI.

NHAI InvIT bonds were listed on BSE and NSE last week and received an encouraging investor’s response. The Ministry of Road Transport & Highways a day before the organisation entered the stock market said in a statement, “Tomorrow is the historic day as these InvIT NCDs will be listed on BSE and Road Transport and Highways Minister Nitin Gadkari will ring the bell marking a great beginning for public participation in infra funding. This round was special because 25% of the NCDs (Non Convertible Debentures) are reserved for retail investors.”