| | APRIL 20248The Securities and Exchange Board of India (SEBI) has issued a settlement order to Utkarsh Small Finance Bank, with the lender agreeing to pay a fine of Rs 1.24 crore to resolve alleged violations of certain provisions of the Listing Obligations and Disclosure Requirements (LODR) Regulations.The regulatory action stems from a show-cause notice dated March 16, 2023, wherein SEBI had raised concerns regarding the bank's compliance with LODR Regulations. In response, Utkarsh Small Finance Bank filed a settlement application, prompting SEBI to dispose of both the application and the show-cause notice through the present settlement order.The SEBI order states, "Therefore, in view of the acceptance of the settlement terms and the receipt of the settlement amount as above by SEBI, the instant adjudication proceedings initiated against the applicants vide SCN dated March 16, 2023, is disposed of in terms of Section 15JB of the SEBI Act read with Regulation 23(1) of the settlement regulations based on the settlement terms".Notably, Utkarsh Small Finance Bank opted to settle the proceedings without admitting or denying the findings of facts and conclusions of law. The bank submitted a settlement application to SEBI, proposing revised settlement terms after attending a meeting with the internal committee of SEBI on January 16, 2024.The High Powered Advisory Committee (HPAC) reviewed the proposed settlement terms and recommended resolving the case with the payment of Rs 1.24 crore by the bank as a settlement amount.This settlement underscores the regulatory efforts to ensure compliance with market regulations while providing a mechanism for entities to address alleged violations through mutually agreed settlements. The resolution marks a step forward in maintaining transparency and integrity in the Indian financial markets. Google Photos is poised for a significant update, offering AI-based editing tools to all users starting May 15. This follows Google's recent developer conference, signaling a deliberate effort to make advanced features widely available and enhance user satisfaction.The update will provide access to tools like Magic Eraser, Photo Unblur, and Portrait Light, without requiring a subscription. However, the rollout will follow Google's standard procedure, gradually reaching all users over several weeks.Additionally, Google announced that the expanded AI editing suite will support a broader array of devices, including Pixel tablets, emphasizing the company's commitment to inclusivity and innovation.This advancement builds on past AI-driven editing endeavors, such as last year's introduction of the Magic Editor on Pixel 8 and Pixel 8 Pro devices. By leveraging generative AI, the Magic Editor simplifies complex editing tasks, now extending its reach to all Pixel devices.Moreover, Google Photos users on Android and iOS platforms will receive ten Magic Editor saves per month, encouraging exploration and creativity in photo editing. Users wishing to surpass this limit will need a Pixel device or a Premium Google One plan. GOOGLE PHOTOS MAKES AI EDITING AVAILABLE TO ALL USERSSEBI SETTLES WITH UTKARSH SMALL FINANCE BANK, IMPOSES RS 1.24 CRORE FINEIN FOCUSIN FOCUS
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