Faced with tech-savvy crooks, Sebi proposes new regulations to probe ‘suspicious trading activity’

The market regulator is seeking to regulate unexplained, suspicious trading activity through a new set of regulations as the “use of innovative, vanishing and encrypted methods of private communication, as well as complex and untraceable funding arrangements” allow people/entities to do fraudulent activities while masking their identities and connections. Read more here. 

Take a look at these key events

Today
PM Modi To Visit Japan, Papua New Guinea, Australia starting today
Avinash Reddy summoned for CBI questioning
Investment in HDFC Defence Fund opens
RBI's board to meet to consider dividend payout to government
IPL 2023: PBKS vs RRTomorrow
Siddaramaiah to take oath as Karnataka CM
Kerala SSLC Class 10 Result 2023 to be out
Manipur phone line extends internet ban till today
IPL 2023: DC vs CSK and KKR vs LSG

SBI posts record Q4 net profit: Key highlights from the earnings

The country’s largest public sector lender State Bank of India (SBI) on May 18 reported its highest-ever quarterly net profit of Rs 16,694 crore for the March quarter of the financial year 2022-23, recording an 83 percent rise from the year-ago period. Read more here.

Govt considers reducing subsidy for EV two-wheelers in FAME scheme

The prices of two-wheeler electric vehicles are likely to rise sharply as the Ministry of Heavy Industries is considering increasing the outlay for EV two-wheelers and reducing the subsidy per vehicle. The ministry plans to raise the outlay by 75 percent from the current Rs 2,000 crore under the FAME-II scheme. There are no plans to extend the FAME-II scheme beyond March 2024 or introduce FAME-III, according to a government official. Read more here. 

Save on health insurance premiums as your fitness band helps you maintain good health

Health insurance products that offer discounts on renewal premiums based on physical activity levels help policyholders maintain good health and assist insurers in reducing claims. However, not adhering to the prescribed regimen will mean losing out on discounts in the subsequent year. Read more here. 

Amazon unveils new gadgets as AI race heats up

For more than a year the digital assistant has been using a home-built set of large language models — the foundational networks that enable ChatGPT and rival technologies — to help summarize text gathered from the web and make Alexa more conversant in various languages, Dave Limp, Amazon’s senior vice president of Devices & Services, said in an interview. Read more here. 

Rafael Nadal announces his withdrawal from French Open, hints at retirement in 2024

Rafael Nadal announced on May 18 that he would not be competing in the French Open due to the hip injury he sustained during the Australian Open in January. He made the announcement during a press conference at Manacor, in Spain. Read more here.