RBI orders banks to stop services to those dealing in crypto currencies

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At its first Bi-Monthly Monetary Policy Press Conference for the financial year  2018-2019, Reserve Bank of India (RBI) has asked banks to stop having business relationship with the entities dealing with virtual currencies with immediate effect. Regulated entities which already provide such services are also ordered to end relationship within a period of three months. Some of the banks have already banned buying cryptocurrencies using credit and debit cards. RBI said that Virtual Currencies (VCs) raise concerns of consumer protection, market integrity and money laundering, among others.  At the Union Budget 2018 in February, Finance Minister Arun Jaitley  said that the  Government will take all measures to eliminate the use of crypto-assets in financing illegitimate activities. However, RBI said that it will promote the use of blockchain – a public ledger that serves as the backbone of bitcoin – in financial services for strengthening transparency and improving inclusion. This will be big blow to the those dealing with virtual currencies in India since banks will not allow users to buy cryptocurrency via banks or e-wallets etc. soon. RBI also said that it is mulling introducing a fiat digital currency. ” While many central banks are still engaged in the debate, an inter-departmental group has been constituted by the Reserve Bank …
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Flipkart No Kidding Days Sale – Best deals on Bluetooth Headsets, Power Banks, Wearables and more

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Flipkart today started its two-day No Kidding Days Sale that offers deals on several products including  accessories, wearables and more. All these offers are available through the site, mobile site as well as Flipkart app. Best Deals on Tablets, wearables, accessories and more on Flipkart  Apple Watch Series 3 – Starting at Rs. 28900 (Rs. 3000 off) Apple Watch Series 2 – Starting at Rs. 24900 (Up to Rs. 3000 off on MRP) Apple Watch Series 1 – Rs. 18900 (Rs. 4000 off) Samsung Gear Fit2 Pro – Rs. 11,590 (Rs. 2400 off) Alcatel A3 10 tablet WiFi – Rs. 5999 (Rs. 1000 off) Google Chromecast 2 – Rs. 2699 (Rs. 300 off) Lenovo HW01 Smart Band with Heart Rate Monitor – Rs. 1399 (30% off on MRP) Xiaomi Mi Band – HRX Edition – Rs. 1199 (Rs. 100 off) Up to Rs. 3000 off on Fitbit Wearables Offers on Laptops, Hard disks, Power banks, Speakers and more on Flipkart Intel Core i3 laptops – Starting at Rs. 22,990 (Up to Rs. 8200 off) Microsoft Xbox One S 1 TB – Starting at Rs. 22,990 (up to 34% off) HP DeskJet Ink Tank GT 5820 Multi-function Wireless Printer – Rs. 9499 (31% off on MRP) Sony MDR-XB650BT Bluetooth Headset – Rs. 6499 (18% off on MRP) …
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Mythic, an AI-chip maker for autonomous devices banks $40M Series B

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Mythic, an AI-based microchip for parallel computing in connected and autonomous devices raised a $ 40M Series B round led by Softbank Ventures. Other investors included DFJ, Lux Capital, Data Collective, and AME Cloud Ventures, and new investors Lockheed Martin Ventures and Andy Bechtolsheim.

Mythic’s chip

The latest funding brings Mythic’s total equity funding to $ 49M as it previously raised $ 9M Series A in March last year. It will use the funding proceeds to bring to market its Silicon used in the AI chips.

Mythic was incubated at the Michigan Integrated Circuits Lab and it’s high-speed; low-power AI chips can be used in autonomous drones, fitness bands, battery-powered monitors, and smartphone. Comprised of both hardware and software, a key difference in technology Mythic is pushing to market is the use of analog electrical signals and flash memory to perform machine learning inference calculations.

It implies most of its use cases and applications will include ‘edge compute’ scenarios where data is stored and analyzed locally on the device rather than in the cloud.

An interesting and understandable development was the appointment of Rene Haas as a board member of Mythic. He belongs to Softback and has stints in Nvidia and ARM, both being major competitors of chip-making.


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Apple Pay comes to 25 more US banks & credit unions, Italy & Spain’s bunq

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Apple has once more updated its roster of banks and credit unions offering Apple Pay, adding another 25 U.S. card issuers, while noting a minor expansion in Europe.
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Apple Pay Adds 25 New Banks and Credit Unions in U.S.; bunq in Spain and Italy

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Apple added Apple Pay support for 20 new banks and credit unions in the United States earlier this month, and now it’s back at it again. Continue reading
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Google Pay adds support for five new banks and credit unions in Taiwan and Australia

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Every once in a while, Android Pa… er… Google Pay adds support for more banks and credit unions. Just a few days ago, 61 new US banks and credit unions were added to Google Pay. This time, the list of additions is much smaller, but still worthy of mention.

In Taiwan, the Shanghai Commercial Bank is now supported. In Australia, the Central Coast Credit Union, Endeavor Mutual Bank, Latitude Financial Services, and RACQ has been added.

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Google Pay adds support for five new banks and credit unions in Taiwan and Australia was written by the awesome team at Android Police.

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Amazon Recalls 260,000 Units of AmazonBasics Power Banks Due to Fire and Chemical Burn Risk

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You will find plenty of power banks on Amazon for cheap albeit mostly from lesser known brands. That’s why most people end up buying the AmazonBasics power bank. These power banks are made and sold directly by Amazon thereby instilling a level of confidence in them. Continue reading
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260,000 AmazonBasics power banks recalled for fire risk

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Amazon is recalling six models of power banks in its AmazonBasics line, totaling about 260,000 units, due to 53 reports of overheating in the US. One of these reports caused chemical burns, and four caused property damage.

The official hazard listed by the United States Consumer Product Safety Commission (CPSC) is “The power bank’s battery can overheat and ignite, posing fire and burn hazards.” The six models in total that are being recalled, all of which were produced by Guoguang Electric Company Limited, are as follows:

  • 16,100mAh
  • 10,000mAh
  • 5,600mAh
  • 3,000mAh
  • 3,000mAh w/ microUSB cable
  • 2,000mAh w/ microUSB cable

Amazon has pulled all listings from its site, and if you click on the page via Google, you’ll be greeted with a large “Sorry we couldn’t find that page” and a picture of a dog.

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260,000 AmazonBasics power banks recalled for fire risk was written by the awesome team at Android Police.

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260,000 Amazon Basics power banks are being recalled for risk of overheating

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Today, Amazon has issued a recall for its self-branded line of power banks that it sells. If you have any of the following power banks by Amazon Basics, you should head to the link at the end of this post to check its product ID number against the ones listed on the site. The 260,000 affected units include the following mAh capacity models: 16,100 / 10,000 / 5,600 / 3,000 / 2,000. These units have been reportedly overheating and there have already been reports of damage to property and at least one report of a chemical burn. If your power bank leaks liquid, this is battery acid and you…

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Amazon Recalling 260,000 ‘AmazonBasics’ Power Banks Due to Overheating Risk

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If you’ve purchased an Amazon-branded power bank from Amazon recently, you should be aware of a recall that Amazon issued today due to reports of overheating. Amazon has received 53 reports about defective power banks that have, in a few cases, led to chemical burns and property damage.

Affected AmazonBasics models that are part of the recall are listed here: 16,100 mAh; 10,000 mAh; 5,600 mAh; 2,000 mAh with micro USB cable; 3,000 mAh and 3,000 mAh with USB micro cable. All impacted units are rubberized or metallic power banks with the AmazonBasics logo printed on the front of the unit.


These Amazon-branded power banks are affordable options that many Apple customers users may have purchased to charge their iPhones and iPads.

According to the U.S. Consumer Product Safety Commission, which shared details on the recall, consumers should immediately unplug any recalled power banks and contact Amazon for details on how to return them for a full refund.

Amazon is sending out emails to all customers who might have purchased one of the faulty power banks.

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