Author: Sreelatha M

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Technology

Amazon opens second-largest Asia office in Bengaluru

US e-commerce giant Amazon has opened its second-largest office in Asia in Bengaluru, highlighting the city’s importance as a tech and business hub. The new 12-storey campus spreads over 1.1 million square feet on a five-acre site near Yelahanka, about 15 km from Kempegowda International Airport. It will accommodate more than 7,000 employees working in technology, operations, e-commerce, payments, and seller services.

The office is designed to encourage collaboration and employee well-being, with modern workspaces, meeting rooms, breakout zones, landscaped lawns, sports courts, and cafeterias. The campus combines productivity with comfort, reflecting Amazon’s focus on employee experience.

The opening was attended by Karnataka Industries Minister Dr. M.B. Patil, who said the investment shows India’s growing role in global technology and innovation. Samir Kumar, Amazon India Country Manager, said Bengaluru has been central to the company’s growth in India and continues to be a key location for expansion in Asia.

This new office adds to Amazon’s existing operations in Karnataka, where the company runs multiple corporate offices, fulfillment and delivery centers. Amazon has invested over $40 billion in India so far and plans an additional $35 billion by 2030 to expand its business, support local sellers, create jobs, and develop technology.

The Bengaluru campus demonstrates Amazon’s long-term confidence in India’s growth and reinforces the city’s position as a hub for global operations, innovation, and talent.

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Beyond

Mis-selling a crime under BNS, FM tells banks

Finance Minister Nirmala Sitharaman has warned banks and financial institutions that mis-selling financial products is now a punishable offence under the Bharatiya Nyaya Sanhita, and asked them to return their focus to core banking activities instead of aggressively cross-selling third-party offerings.

Speaking at a meeting with bank chiefs, Sitharaman said customers must not be forced or misled into buying insurance, mutual funds or other investment products that do not match their needs. She stressed that such practices erode public trust in the banking system and will invite legal consequences under the new criminal law framework.

The minister made it clear that banks exist primarily to mobilise deposits and provide credit, and that these fundamental functions should not take a back seat to fee-based income from distribution of financial products. She urged lenders to strengthen their due diligence and ensure that products are sold only after proper assessment of a customer’s risk profile and financial goals.

The government’s message comes amid rising complaints from customers who say they were pressured into purchasing policies or investment schemes while availing loans or opening accounts. Officials noted that mis-selling not only harms consumers but also exposes banks to reputational and regulatory risks.

Sitharaman also asked bank managements to improve internal training and accountability so that frontline staff do not prioritise sales targets over customer interest. Senior executives were told to closely monitor sales practices and put in place transparent grievance redressal mechanisms.

The finance minister further emphasised the need for responsible growth in the financial sector, calling on banks to support productive sectors of the economy, improve credit flow and maintain strong asset quality.

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Corporate

Bharti Airtel earmarks ₹20,000 crore for digital lending push

Bharti Airtel has announced a ₹20,000-crore capital plan for its NBFC arm as it looks to rapidly expand its digital lending business and build a stronger presence in financial services.

The investment will be made in phases, with around 70% of the funds coming from Airtel and the remaining from its promoter group, Bharti Enterprises. The move will strengthen the lending arm’s balance sheet and allow it to offer more credit to customers across segments.

Airtel plans to use its large base of mobile users, digital payments platform and data insights to provide faster and more targeted loans. The company sees a major opportunity in reaching customers and small businesses that still have limited access to formal credit.

The focus will be on fully digital loans, including personal loans, small consumer credit and financing for micro and small enterprises. By using data analytics and its wide distribution network, Airtel aims to speed up approvals and improve risk assessment.

The decision highlights Airtel’s strategy to go beyond telecom services and create new revenue streams. Over the past few years, it has been steadily building its financial services portfolio through Airtel Finance and its payments bank, offering products such as insurance, savings and payments.

The push also comes at a time when telecom companies, fintech firms and traditional lenders are competing to tap India’s fast-growing digital credit market. With millions of active users on its platform, Airtel believes it has a strong advantage in cross-selling financial products.

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Leaders

Nikhil Kamath’s podcast to feature Anthropic CEO

Zerodha co-founder and podcaster Nikhil Kamath is set to host Dario Amodei, the chief executive of Anthropic, for a wide-ranging and unscripted discussion on artificial intelligence, its risks and its transformative potential.

Kamath announced the upcoming episode of his podcast People by WTF on social media, sharing a short teaser that frames the conversation as a deep dive into the technology that is rapidly reshaping industries and economies. The full episode is yet to be released.

In the preview, Amodei describes the rise of advanced AI as an approaching “tsunami”, cautioning that most people are underestimating the scale and speed of change. He points to sweeping economic disruption, shifts in global power and the urgent need to build strong safety frameworks as some of the biggest challenges ahead.

The discussion is expected to cover concerns around job displacement, the concentration of technological power and the geopolitical race to dominate AI development. At the same time, Amodei emphasises that the technology itself is not inherently dangerous, but its impact will depend on how responsibly it is developed and deployed.

Kamath noted that those building cutting-edge AI systems are often among the most vocal about the need for safeguards, reflecting growing awareness within the industry about the risks of uncontrolled advancement.

Amodei previously led AI safety research at OpenAI before co-founding Anthropic in 2021 with a focus on creating more reliable and controllable AI models. He has consistently warned that future systems could surpass human capabilities in several domains, bringing both unprecedented opportunity and serious challenges.

The episode adds to Kamath’s list of global business and technology leaders featured on his podcast and comes amid intensifying global debate over how AI will reshape work, regulation and international competition in the years ahead.

Also Read: Google stops Antigravity access for OpenClaw tied accounts

Categories
Technology

Google stops Antigravity access for OpenClaw tied accounts

Google has temporarily cut access to its Antigravity model for several users after detecting what it described as a spike in “malicious usage” tied to third‑party agent tools such as OpenClaw. The action affected both paid and premium subscribers who had linked their Google AI accounts to these external tools.

Many users began seeing 403 PERMISSION_DENIED errors and messages saying Antigravity access was disabled for violating Google’s Terms of Service. Reports of sudden lockouts appeared on Reddit and Google support forums in mid‑February, with affected customers saying they received little or no prior warning.

Google said the suspension was necessary to stop abusive activity that was degrading service for legitimate users. The company indicated it was targeting accounts that used Antigravity in ways it did not intend and suggested some users might regain access after review.

Developers of third‑party tools reacted quickly. The creator of OpenClaw called Google’s enforcement strict and said he would remove Antigravity support to protect users. Other developers advised switching from OAuth account linking to API keys or moving to alternative model providers to avoid similar disruptions.

Community troubleshooting threads urged users who see the “disabled for violation” notice to check whether they had exposed Antigravity OAuth tokens through agent frameworks and to stop using those integrations. Users who believe they were blocked in error are advised to contact Google support with details of their setup.

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Categories
Leaders

Asha Sharma appointed CEO of Microsoft Gaming

Asha Sharma has been appointed Executive Vice President and CEO of Microsoft Gaming, the company announced on February 20, 2026. Reporting directly to CEO Satya Nadella, Sharma will lead Xbox, Xbox Game Studios, Activision Blizzard, Bethesda, King and Microsoft’s wider gaming efforts. The move follows Phil Spencer’s decision to step back from day-to-day leadership; Spencer will remain in an advisory capacity through the summer to support the transition.

Sharma arrives with experience scaling consumer platforms and operations, including senior roles at Instacart and Meta. Microsoft highlighted her track record building large ecosystems and reaching broad audiences as a key reason for the hire, saying those skills will help grow the company’s platform, content and community across console, PC and mobile. The gaming organization she inherits includes nearly 40 internal studios and a portfolio of well-known franchises that reach hundreds of millions of players.

As part of the leadership reshuffle, Matt Booty has been promoted to Executive Vice President and Chief Content Officer and will report to Sharma. Booty will continue to oversee studio operations and creative strategy, focusing on content development, studio investment and the company’s long-term creative roadmap. Microsoft framed the changes as a planned succession designed to maintain momentum across hardware, cloud services and content while preparing for the next phase of growth in gaming.

In her first public statement as incoming CEO, Sharma set out three priorities: invest in great games, renew focus on Xbox and its core fans, and shape the future of play by supporting creative teams and building platforms and tools that let developers reach players across devices. She stressed the importance of protecting creative craft and cautioned against short-term monetization approaches that could erode player trust.

Microsoft thanked Phil Spencer for his decades of service and for guiding the business through major expansions and acquisitions that reshaped its gaming strategy. The company said the leadership change positions Microsoft to accelerate studio investment, expand content offerings and deepen engagement with players worldwide as gaming continues to evolve across devices and cloud services.

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Categories
Corporate

UPL shares tumble 14–15% after reorganisation plan

Shares of UPL Ltd plunged sharply after the company unveiled a multi-step reorganisation that will carve its crop protection businesses into a new listed entity, UPL Global Sustainable Agrisolutions Ltd. The stock fell about 14–15% in early trade, reflecting investor concern over how the restructuring will affect leverage and shareholder dilution.

Under the plan, UPL will merge its India crop protection arm and then vertically demerge it into the new listed platform; the international crop protection business held through UPL Corporation (Cayman) will also be folded into the new entity. The company disclosed share-swap ratios for the various steps and said the process could take 12–15 months, subject to regulatory approvals. Promoters have agreed to an 18‑month lock‑in on their UPL Global shares after listing.

Brokerages and credit watchers offered mixed takes. Some analysts view the move as strategically positive because it creates a focused, global crop protection business that can be valued against international peers and could make capital raising at the subsidiary level easier. The reorganisation also paves the way for separate listings of other businesses, including the seeds arm, Advanta, which management has flagged for an IPO.

However, caution dominated market sentiment. Nuvama Institutional Equities downgraded UPL, citing unresolved questions on the company’s debt profile after the split and the risk of equity dilution to shore up balance sheets. That downgrade, together with uncertainty about how much debt will remain at the holding level and the timing of any capital raises, is widely seen as the main trigger for the steep share decline.

Company executives argue the restructuring will sharpen operational focus, drive synergies in R&D and manufacturing, and ultimately unlock shareholder value. Analysts say those benefits are plausible over the medium term, but near‑term investor confidence will hinge on clear disclosures about post‑restructuring debt allocation, the scale and timing of any equity issuance, and firm timelines for subsidiary listings.

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Categories
Leaders

Yes Bank targets 1% ROA by FY26, says CFO

Yes Bank has set a concrete profitability milestone: the lender aims to exit fiscal 2025–26 with a return on assets (ROA) of 1%, Chief Financial Officer Niranjan Banodkar said. The target underscores management’s push to move beyond years of balance-sheet repair and return to steady earnings.

Bank executives say the plan rests on three pillars: measured credit growth, improved margins, and rigorous risk management. To lift core profitability, Yes Bank will expand interest-earning assets while keeping funding costs under control. Management plans to prioritise higher-margin retail and small-business lending to diversify income and reduce concentration in corporate exposures.

Asset quality is central to the strategy. The bank will continue prudent provisioning and strict credit selection to limit fresh slippages and shrink legacy stressed assets. Banodkar emphasised disciplined underwriting and closer monitoring of borrower performance to prevent deterioration in the loan book.

On costs, Yes Bank intends to tighten operating expenses to improve the cost-to-income ratio. The bank will lean on digital channels and process efficiencies to grow revenue without a proportional rise in overheads. Improving the net interest margin through better pricing and product mix is another focus area.

Capital and liquidity buffers will be maintained as the bank scales. Management says it will manage risk-weighted assets and capital planning carefully to meet regulatory expectations while supporting growth. The bank’s ability to hit the 1% ROA will depend on steady credit demand, stable funding conditions, and limited macro shocks.

Market watchers will track quarterly indicators such as net interest margin, non-performing assets, provision coverage, and cost-to-income to gauge progress. Achieving a 1% ROA would signal a meaningful turnaround in profitability and validate the bank’s restructuring efforts.

Yes Bank is pursuing a defined profitability goal while balancing growth with conservative risk controls, as far as customers are concerned. Management stresses steady, sustainable improvement rather than rapid expansion that could strain the balance sheet.

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Categories
Technology

Reddit tests AI for smarter product searches

Reddit is testing a new AI-powered search feature designed to make it easier for users to discover products discussed in its community threads. For a limited group of users in the U.S., searching for items like “best headphones” or gift ideas may now show interactive product carousels directly in the search results.

These carousels highlight product images, prices, and links to buy, based on recommendations and discussions from Reddit posts and comments. The feature aims to help users explore products mentioned by the community without leaving the platform.

The company says the AI tool offers quick insights on popular products, surfacing items that are frequently recommended in relevant threads. Reddit will monitor user interactions closely and refine the feature before considering a wider rollout.

This initiative aligns with Reddit’s broader push into e-commerce, building on efforts like its Dynamic Product Ads, which provide personalized product suggestions based on user interests.

Reddit’s CEO, Steve Huffman, has noted that search activity on the platform has grown significantly, highlighting the potential for search-based features to engage users while also creating new revenue opportunities.

By combining its community-driven content with shopping tools, Reddit is exploring a subtle shift toward commerce while maintaining the platform’s discussion-focused identity. The test reflects a wider trend where social platforms are experimenting with AI-powered tools to enhance user discovery and engagement.

This AI search feature represents a measured approach to integrating commerce on Reddit, keeping the emphasis on community recommendations while offering users a more convenient way to find products that matter to them.

Also Read: OpenAI–Tata partner for 100mw AI data centre in India

Categories
Leaders

Mukesh  Ambani announces $110 billion for AI in India

Reliance Industries, led by Mukesh Ambani, announced a $110 billion (₹10 lakh crore) investment in artificial intelligence over the next seven years. The plan, revealed at the India AI Impact Summit 2026 in New Delhi, aims to make AI services as accessible and affordable in India as mobile data has become.

Ambani highlighted that the main barrier to AI adoption in India is not talent but the high cost of computing power. To tackle this, Reliance and its telecom arm Jio are building large AI-ready data centres in Jamnagar, Gujarat, starting with 120 megawatts in 2026 and gradually expanding to gigawatt scale. The initiative will also include a nationwide edge computing network, ensuring faster AI services for both urban and rural areas.

Reliance plans to use its green energy surplus, including 10 gigawatts of solar power from Kutch and Andhra Pradesh, to reduce the cost of running these centres. Ambani stressed that the goal is to make AI tools affordable for education, healthcare, agriculture, and small businesses across India.

The summit also saw commitments from other companies. The Adani Group plans to invest $100 billion in AI-powered, renewable energy data centres by 2035. Global tech giants such as Microsoft, Google, Amazon, and Nvidia announced investments and partnerships to expand cloud services and AI infrastructure in India.

Union IT Minister Ashwini Vaishnaw said the summit secured infrastructure investment pledges exceeding $250 billion, showing strong global confidence in India’s AI potential. Leaders emphasized that India is emerging as a trusted hub for AI innovation, combining digital infrastructure with scalable technology deployment.

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