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Oppo launches Apple Watch competitor with eSIM support: All about you want to know!

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Oppo has launched its first smartwatch. The company is calling it the Oppo Watch. It comes in two sizes of 41mm and 46mm. The watch runs on a custom version of ColorOS, tailored for smartwatches and based on Google’s Wear OS. Moreover, it supports the proprietary Watch VOOC Flash Charge fast charging technology.
As repeatedly teased by Oppo itself, Oppo is making a watch called the Oppo Watch, and today it got revealed in full. It looks extremely similar to the Apple Watch — not just because of its curved glass and square-ish screen, but also the integrated bands and the black-heavy UI. Its 4.5mm-thick aluminum frame, however, looks considerably thinner.

The Oppo Watch features a curved flexible AMOLED display and has two physical buttons on the side. The 41mmm variant has a 1.6-inch AMOLED display with 320×360 pixels resolution. In contrast, the 46mm model packs a 1.91-inch display with 402×476 pixels resolution and 326ppi pixel density. It is only compatible with Android phones as of now. However, work on adding support for the iOS ecosystem is currently underway.

The watch is powered by the Qualcomm Snapdragon Wear 2500 SoC, but there is an Apollo co-processor as well. Oppo says it can switch from the Qualcomm chip to the Apollo chip when it needs to save power. It comes with a wide range of workouts and also has an AI-based fitness regime feature. As for water resistance, the 46mm variant comes with a 5ATM water resistance rating, while the 41mm variant is rated 3ATM. It includes sleep monitoring as well.

The Oppo Watch also supports eSIM. Users can choose to link their existing number or independently use the eSIM facility on the watch with a different number. The 41mm Oppo Watch comes equipped with a 300mAh battery, while the 46mm model packs a 430mAh unit. It comes with 1GB RAM and 8GB of storage.

Oppo claims the watch can fully charge in just 75 minutes, while 15 minutes of charging will provide enough juice to last for up to 18 hours.

The 41mm variant is priced at CNY 1,499 (Rs 15,000 approx) and comes in three color options of black, gold, and silver. The 46mm variant’s aluminum model is available in black and gold colors with fluoro rubber straps and carries a price tag of CNY 1,999 (Rs 20,000 approx).

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RMC seeks release of 160 crores Smart City Mission fund in Yes Bank

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RMC seeks release of Rs.160 crore Smart City Mission fund in Yes Bank

The Rajkot Municipal Corporation has written to the Reserve Bank for the release of the Smart City Mission fund worth about Rs.160 crores stuck in the troubled private sector lender Yes Bank, Gujarat Deputy Chief Minister Nitin Patel said on Saturday.

Patel said that apart from the Rs.160 crores, the government has no other deposit in the capital-starved Yes Bank which was placed under a moratorium for one month on Thursday. The RBI has superseded the board of Yes Bank and capped withdrawals at Rs 50,000.

“As per information provided to me, around Rs.160 crore Smart City Mission fund of RMC is deposited in Yes Bank.

Yes Bank crisis; UPI’s use dives 40%, PhonePe traces go lifeless

Yes Bank crisis; UPI’s use dives 40%, PhonePe traces go lifeless

The money belongs to the Central government and the RMC, and hence the municipal corporation has written to the RBI with the request to release the fund as per its requirement,” Patel, who also handles the Finance portfolio, told reporters in Gandhinagar.

 

 

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The real scam of the Yes Bank Crisis – The main problem!

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The real scam in the way Yes Bank collapsed will unravel if you answer one simple question.

How did the bank grow its loan book by 80% between March 31, 2017, and March 31, 2019, when the economy was down, credit demand unusually low with no signs of a pick up in private investment?

Yes Bank’s loan book grew from Rs 1,32,000 crore in FY 2017 to Rs 2,41,000 crore in FY 2019. That is an increase of Rs 1,09,000 crore or 80% in just two years when most banks were finding it difficult to lend. In just two years, Yes Bank nearly doubled the loan book it had built over the previous 17 years of its existence.

Who were the corporate clients that the private sector lender so heavily and indiscriminately lent to in those two years – post-demonetization and GST – when the investment climate seemed so utterly gloomy that no genuine companies were seeking loans for fresh investment?

The finance minister must also explain how the overall loan growth of the bank during the full five years of the NDA regime was nearly 400% – from Rs 55,000 crore in FY 2014 to 2,41,000 crore in FY 2019.

Yes Bank may have become a pawn in this elaborate Ponzi scheme, which also involved large non-banking financial companies (NBFCs) like Dewan Housing and perhaps others. There are forensic audit reports from KPMG and PwC on how NBFCs were diverting large funds via shell companies to crony corporate groups who were struggling to repay loans. No wonder Yes Bank and these NBFCs were accounting for nearly 80% of all loan growth post-demonetization and GST. All this was going on even as the finance ministry and the RBI were sleeping on their job. Nirmala Sitaraman cannot blame this on the UPA.

This is precisely what the former chief economic adviser in the Modi government, Arvind Subramanian, described as the ‘twin plus twin balance sheet problem‘. The first twin balance sheet problem – when huge bad loans affected both corporate and bank balance sheets – occurred during the UPA regime. However, the second twin balance sheet problem – captured by Yes Bank’s stressed assets of nearly Rs 60,000 crore – happened squarely under the NDA’s watch. The size of the problem is so huge that even the RBI has not dared to find the truth by doing a genuine asset quality review of the NBFCs which have gone bust. The last reported quarter of Yes Bank (July-September 2019) shows NPAs of some 5-6% of the total loan book. Actually, it is about 30%, or even more, because the economy has deteriorated further in the past four quarters.

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Yes Bank crisis: SBI may pick up to 49% stakes

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Addressing a press conference in Mumbai, SBI Chairperson Rajnish Kumar said the SBI Board has given “in-principal” approval to pick up 49 percent stakes in Yes Bank.

Two days after the Reserve Bank of India (RBI) placed capital-starved Yes Bank under a one-month moratorium and capped the monthly withdrawal limit for depositors to Rs 50,000 per account, the State Bank of India (SBI) today said it is likely to pick up 49 percent stakes in Yes Bank.
Addressing a press conference in Mumbai, SBI Chairperson Rajnish Kumar said the SBI Board has given “in-principal” approval to pick up 49 percent stakes in Yes Bank.

In terms of investment, the SBI-India’s largest lender-is likely to invest at least a sum of Rs 2,450 crore in Yes Bank.

“The plan has been received by SBI and the legal team is working on the plan. We had informed through the stock exchange that the SBI board has given in-principle approval of exploring the possibility of picking up a stake of up to 49 percent in Yes Bank,” Rajnish Kumar said.

The SBI chairperson also said, “There are many potential private equity investors, there some good names, we are looking at co-investors. There are certain regulatory norms for anybody who wants to go beyond 5 percent (stakes). But there is considerable investor interest.”

 

He, however, said the final decision on the percentage of stake the SBI will pick up in Yes bank and the amount it will invest will be taken by the SBI Board.

“Our effort is to ensure the resolution plan is approved and implemented before the time set by RBI. It is a matter of a few days and depositors should not worry about the safety of their money,” Rajnish Kumar said.
He also assured SBI depositors and investors that they need to worry because of this decision. “Our capital ratio will not be impacted,” he said.

“We have to keep in mind that any bank failure has huge consequences. So SBI standing behind Yes Bank makes a difference. Any enterprise, irrespective of ownership, is a national asset. As the country’s largest bank, we have a role to play. For individuals’ mistakes why should an institute suffer?” he said.

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