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  • FastAPI and Microservices Transform Oil & Gas Industry Operations

    Oil & Gas Industry

    In a groundbreaking research paper published in the International Journal of Computer Engineering and Technology, researcher Nihitha Sallapalli from the United States explores how microservices architecture and FastAPI are revolutionizing the oil and gas industry’s complex workflows. The research reveals significant improvements in system performance, scalability, and operational efficiency.

    The Data Tsunami Challenge

    Oil and gas platforms generate 2 terabytes of data daily across 30,000 data points, overwhelming traditional systems. With global production at 95 million barrels daily, the industry needs more adaptable solutions to manage and process this massive data volume effectively.

    Breaking Down the Monolith

    Microservices architecture revolutionizes operations by breaking down complex applications into independent, API-connected services. This approach enhances crucial functions like land ownership tracking, well monitoring, and production forecasting. Each service can be scaled and updated independently, efficiently managing data across millions of acres and thousands of stakeholders without system-wide disruptions.

    Speed and Efficiency Unleashed

    The implementation of microservices has delivered remarkable improvements in operational efficiency. Processing times for ownership transfers have decreased by 70%, while system response times have improved by 83%. The ability to handle concurrent requests has increased by 350%, enabling better real-time data access and enhanced user experience. Financial reconciliation processes that previously took six days are now completed in just 18 hours, representing an 87.5% improvement in processing speed.

    FastAPI: The Performance Catalyst

    FastAPI has revolutionized oil and gas operations with its exceptional processing power, handling 30,000 requests per second on a single server. The framework’s advanced asynchronous capabilities significantly improve efficiency, reducing development time by 38% and testing time by 55%. This high-performance solution proves essential for managing the industry’s massive data volumes, enabling smoother operations and faster data processing across multiple platforms.

    Development Excellence

    The adoption of microservices has transformed the development lifecycle. Development cycles have shortened by 62%, code reuse has increased by 48%, and bug resolution time has decreased by 72%. Teams can now work on individual services independently, making updates without disrupting the entire system. Critical updates that previously required full-day system downtimes can now be deployed in just two hours, reducing the risk of system-wide failures by 92%.

    Resource Optimization

    The shift to microservices architecture has led to substantial resource optimization. Organizations have reported a 40% decrease in energy consumption for data processing through more efficient resource allocation. Real-time updates and monitoring capabilities have reduced operational waste by 30%, translating to significant cost savings. Predictive maintenance algorithms, running as independent microservices, have improved equipment uptime by 25%, further enhancing operational efficiency.

    Data Management Innovation

    The microservices approach has revolutionized how companies handle their data processing needs. Well performance monitoring systems can now process data from tens of thousands of wells simultaneously, with each well potentially generating hundreds of data points per second. The architecture allows for real-time visibility into operations, increasing operational insights by 70% and enabling faster, more informed decision-making processes.

    Future-Ready Architecture

    As the industry continues to digitize with investments in digital technologies expected to reach $75 billion annually, microservices architecture stands as a cornerstone of modern oil and gas operations. The combination of microservices and FastAPI provides the scalability and flexibility needed to handle growing data volumes and complex workflows efficiently. This technological foundation enables companies to adapt quickly to changing market conditions and regulatory requirements while maintaining optimal performance.

    The research by Nihitha Sallapalli demonstrates that microservices architecture and FastAPI are not just technological improvements but essential tools for maintaining competitiveness in the evolving energy sector. These innovations provide the foundation for more agile, efficient, and scalable operations in an industry that continues to embrace digital transformation, ultimately driving improved competitiveness and operational efficiency in the dynamic energy sector.

  • Zeno Health launches 182nd medical store, expands its product portfolio

    Zeno Health Celebrates Milestone with 182nd Medical Store and Expanded Product RangePanvel, 27th December 2024: Zeno Health, India’s leading omnichannel platform for quality and affordable generic medicines, recently launched its 182nd store at Panvel, further expanding its presence in Maharashtra. The new store was inaugurated by Sameer Balashet Thakur, Corporator at Panvel Municipal Corporation (PMC), who was the chief guest at the ceremony.

    Speaking on the launch, Siddharth Gadia, Co-Founder and CEO, Zeno Health said, “At Zeno Health, our purpose is to make India healthier and happier by reducing healthcare expenses by 50%. To date, we’ve helped over 25 lakh customers save more than ₹800 crores on medicines. Trust has always been the foundation of our journey, and we work tirelessly to strengthen it with every step we take. As we grow, our commitment remains steadfast: to expand our reach by opening more stores and making high-quality and affordable generic medicines accessible to even more people.”

    Customers visiting the store will be provided with a wide range of healthcare products which includes prescription medicines, over-the-counter drugs, mother & baby care items, wellness and nutrition products, and much more. The startup’s new store is located at Shop no. 18, Riddhi Siddhi Residency, Near DAV School, 53A, Sector 3, New Panvel East, Navi Mumbai – 410206.


    Mansi Praharaj

  • IDBI Bank launched new FD and extended the investment period on special FD


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    IDBI Bank FD Rates: IDBI Bank has made changes in its Fixed Deposit (FD) scheme. The bank has launched FDs with new periods and higher interest rates. Also, IDBI Bank has extended the investment deadline in its old special FDs. The deadline for investing in special FDs was 31 December 2024, which has been extended. Now investors will get more time to invest in FDs.

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    New 555 days Utsav Callable FD

    IDBI Bank has launched Utsav FD with a new period of 555 days from 23 December 2024. This scheme will be valid till 15 February 2025. That is, you can invest in it till 15 February. Let us tell you here that premature withdrawal of money is not allowed in callable FD. Apart from this, the time limit of already running 300, 375, 444 and 700 days special FD schemes has been extended till 31 March 2025.

    Utsav FD Interest Rates – For General Citizens

    300 days: 7.05%

    375 days: 7.25%

    444 days: 7.35%

    555 days (new plan): 7.40%

    700 days: 7.20%

    Interest received by senior citizens on FD

    300 days: 7.55%

    375 days: 7.75%

    444 days: 7.85%

    555 days (new plan): 7.90%

    700 days: 7.70%

    IDBI Bank Normal FD Rates

    IDBI Bank is offering interest rates ranging from 3% to 7% on normal FDs. These rates apply to deposits less than Rs 3 crore. For senior citizens, these interest rates range from 3.50% to 7.50%. These rates apply to FDs with tenures ranging from 7 days to 10 years. The new rates are applicable from 23 December 2024.

    Rules for closing FD before time

    As per the rules of IDBI Bank, if the customer closes the FD prematurely, the bank levies a penalty charge of 1%. This charge is also applicable on partial withdrawals and withdrawals through swipe-in.

    Special opportunity for customers

    There is a new FD of 555 days and an extension of the already running special schemes. Customers are getting higher returns on this. If you are planning to invest in FD, then this time can be beneficial for you. Read the terms and conditions of FD thoroughly before investing.


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  • Hyderabad Public School Unveils Landmark Coffee Table Book Flight of the Eagle to Mark Centenary Celebrations

    Hyderabad Public School Unveils Landmark Coffee Table Book Flight of the Eagle to Mark Centenary Celebrations

    Hyderabad, India – December 2024 – The Hyderabad Public School (HPS) is proud to announce the launch of “Flight of the Eagle”, a spectacular coffee table book that commemorates the 100th anniversary of the institution. The book, which highlights the school’s century-long legacy of academic excellence, cultural achievements, and societal impact, will be officially launched at a special ceremony on 24th December 2024 , with two of the school’s most distinguished alumni—Satya Nadella, CEO of Microsoft, and Shantanu Narayen, CEO of Adobe—gracing the event as the Chief Guests.

    “Flight of the Eagle” offers a captivating journey through the history of HPS, which began as Jagirdars’ College in 1923, evolving into one of India’s premier educational institutions. The book spans both the pre- and post-independence eras, showcasing the significant milestones, rich traditions, and growth of the school across decades.

    Created through extensive archival research and interviews with alumni, teachers, and staff, this book blends personal stories with historical insights. It not only offers a rare glimpse into the school’s storied past but also looks forward, shedding light on HPS’s future goals and the benchmarks it seeks to set in the coming years.

    “We wanted to create a book that not only honors the incredible history of The Hyderabad Public School but also celebrates the remarkable individuals who have contributed to its success over the years,” said Kishor Krishnamoorthi, Chief Editor of the book. “The stories and visuals featured in this book reflect the spirit of the school and its impact on generations of students who have walked its halls.”

    The coffee table book is a work of love and dedication by a team of passionate contributors, including Chandra Shekhar Reddy Kundur and Faiz Khan, Co-Chairs of the Coffee Table Book Sub-Committee; Pranav Pingle, Creative Head; Sanjiv Chakravarthy, Head Researcher; Anish Penti, Head Designer; and Alok Yepuri, Lead Writer.

    “It has been a delight to spearhead this landmark publication that commemorates the Centenary of The Hyderabad Public School. The book is intended to be a comprehensive collection of information about the history of the school, the experiences of the students, the vast infrastructure, and an intention to summarize the X factor of the school that creates global leaders.” said Chandra Shekhar Reddy Kundur, Co-Chairperson of Coffee Table Book Sub-Committee.

    The launch event, to be held at HPS, will also include the felicitation of Satya Nadella and Shantanu Narayen, along with speeches from distinguished guests including Gusti Noria, President of the HPS Society, and Skand Bali, Principal of the school. The book will be unveiled during a special ceremony, featuring students and staff carrying the books in a symbolic representation of the school’s dynamic community.

    “Flight of the Eagle” is more than just a book; it is a tribute to a century of educational excellence and an enduring symbol of the school’s commitment to shaping future leaders. It serves as a perfect keepsake for alumni, parents, educators, and anyone who cherishes the rich history of one of India’s finest schools.

  • Saudi Arabia Shows Leadership in AI Ethics with Online Self-Assessment Tool

    Riyadh: With the launch of its cutting-edge self-assessment tool to evaluate ethical compliance in AI development, the Saudi Data & AI Authority (SDAIA) is demonstrating the Kingdom’s commitment to leading the development of safe and ethical AI technologies. Available through the National Data Governance Platform, this comprehensive solution helps organizations measure their adherence to established ethical AI principles.

    Aligned with Saudi Vision 2030’s goals, global human rights standards, and UNESCO’s recommendations on AI ethics, the tool helps organizations raise AI maturity and enhance ethical AI compliance. It will also encourage investment and drive economic growth.

    The tool serves as a crucial resource for government agencies, private companies, and independent developers. It offers a systematic framework for assessing and analyzing how well their AI products align with ethical guidelines. Organizations can now effectively measure their commitment to responsible AI development, implementation, and adoption through detailed evaluation metrics.

    Comprising 81 key questions that are aligned with global standards, the assessment framework evaluates AI ethics compliance through seven fundamental principles: fairness, privacy and security, reliability and safety, transparency and explainability, accountability and responsibility, humanity, and social and environmental benefits. As a result of responses to the questions, which use a simple 1-to-5 rating scale, detailed reports are generated that highlight strengths and identify areas for improvement.

    These seven principles aim to advance ethical AI development while maintaining a balance between innovation and responsibility.

    The framework emphasizes fairness in AI applications to prevent bias and discrimination while ensuring human-centric development that protects rights and promotes well-being.

    Key aspects of the assessment include evaluating data privacy and protection while maintaining system reliability and safety. The framework also emphasizes transparency in AI operations, making complex algorithms and decision-making processes more understandable and accountable.

    A key component of the framework focuses on accountability, ensuring transparent mechanisms for AI implementation and decision-making. Together, these principles foster responsible innovation that aligns with human values and societal needs.

    Organizations can use the tool multiple times to raise their maturity in AI ethics compliance and monitor their ethical development journey. This iterative approach provides flexibility to strengthen ethical commitments continuously and align practices with emerging technological trends.


    Neel Achary

  • AI and Automation: Revolutionizing Financial Compliance and Customer Verification

    Compliance and Customer Verification

    In this digital Era, Pankaj Singhal, who specializes in compliance solutions at a major software company, a groundbreaking research explores how artificial intelligence and automation are transforming regulatory processes in the financial sector.

    The Digital Transformation of Compliance

    Financial institutions worldwide are witnessing a dramatic shift in how they handle regulatory compliance and customer verification. Advanced technologies like artificial intelligence (AI) and optical character recognition (OCR) are replacing traditional manual processes, offering unprecedented speed and accuracy in risk assessment and customer onboarding. These innovations have become essential tools in meeting increasingly complex regulatory requirements.

    Smart Systems, Smarter Decisions

    AI algorithms have become instrumental in detecting subtle patterns and anomalies that human analysts might miss. These systems process vast amounts of structured and unstructured data, enabling financial institutions to identify potential compliance risks and fraudulent activities with greater precision. Real-time monitoring capabilities allow for immediate alerts when suspicious patterns emerge, significantly reducing the risk of regulatory violations.

    Breaking the Paper Barrier

    OCR technology serves as a crucial bridge between physical documents and digital systems. Modern OCR systems can process diverse document types, from passports to utility bills, in multiple languages and various formats, including handwritten text. This capability has dramatically reduced the manual workload while improving data accuracy and processing speed. The integration with AI-powered verification systems enables rapid and accurate document authentication.

    The Human Touch in an Automated World

    While automation handles routine tasks, human expertise remains crucial for complex decision-making and oversight. This shift allows compliance professionals to focus on strategic risk management and intricate cases that require nuanced judgment. The integration of AI has optimized workforce distribution, enabling organizations to maintain high compliance standards while managing costs effectively. The collaboration between human expertise and AI capabilities creates a more robust compliance framework.

    Cost-Effectiveness Meets Efficiency

    The implementation of AI-driven compliance systems, though requiring initial investment, offers substantial long-term benefits. These systems can handle increased workloads without proportional cost increases, making them particularly valuable for institutions dealing with large transaction volumes. The reduction in manual processing and error rates has led to significant operational cost savings and improved scalability. Organizations can redirect resources to more strategic initiatives while maintaining compliance excellence.

    Customer Experience Reimagined

    The impact on customer experience has been transformative. Processes that once required multiple in-person visits and lengthy paperwork can now be completed quickly and remotely. Advanced security measures, including biometric verification and AI-powered document authenticity checks, have created a more secure and efficient onboarding experience, enhancing customer satisfaction while maintaining regulatory compliance. The streamlined processes have significantly reduced customer wait times and improved service delivery.

    Navigating the Challenges

    The implementation of these technologies comes with its own set of challenges. Organizations must address data privacy concerns, ensure regulatory acceptance, and maintain robust cybersecurity measures. The need for comprehensive staff training and system integration requires careful planning and execution, but the benefits far outweigh the initial hurdles. Continuous monitoring and updates ensure system effectiveness and regulatory compliance.

    Future-Ready Compliance

    As regulatory requirements become more complex, the role of AI and automation in compliance continues to evolve. These technologies are not just tools for efficiency; they represent a fundamental shift in how financial institutions approach regulatory compliance and customer verification. The ongoing development of these technologies promises even more sophisticated solutions for future compliance challenges.

    In conclusion, Drawing from extensive research by Pankaj Singhal, the integration of AI, OCR, and automation in compliance processes marks a significant advancement in the financial industry’s ability to meet regulatory requirements while enhancing customer experience. This technological evolution promises to shape the future of financial compliance, making it more efficient, accurate, and accessible for all stakeholders involved.

  • US issued over 1 million nonimmigrant visas to Indians for second straight year

    US government on Friday announced it issued over 1 million nonimmigrant visas to Indians for second straight year
    US issued over 1 million nonimmigrant visas to Indians for second straight year. Photo Courtesy: Unsplash

    The US Mission in India on Friday said it issued more than one million nonimmigrant visas for the second year in a row, including a record number of visitor visas, underscoring the huge demand of Indians for travel to the United States.

    In the past four years, visitor numbers from India have increased by five times, and more than two million Indians travelled to the United States in the first eleven months of 2024, a 26 percent increase over the same period in 2023, read a statement issued by the US Embassy in India.

    “Over five million Indians already have a nonimmigrant visa to visit the United States and each day the Mission issues thousands more,” the statement said.

    The embassy said the US Department of State completed a successful pilot program to renew H-1B visas in the United States this year.  

    This allowed many speciality occupation workers from India to renew their visas without leaving the United States.  

    “This pilot program streamlined the renewal process for thousands of applicants, and the Department of State is working to formally establish a US-based renewal program in 2025,” the statement said.

    The US Mission to India issued tens of thousands of immigrant visas, facilitating legal family reunification and the migration of skilled professionals.  

    “These immigrant visa holders became permanent residents upon their arrival, adding to the already rich and sizable Indian diaspora community in the United States,” the statement said.

    The US Mission to India also provided more than 24,000 passports and other consular services to American citizens living and travelling in India.  

    The embassy said a new version of the Smart Traveler Enrollment Program (STEP) debuted in 2024, making it easier for the embassy and consulates to contact American citizens during emergencies and send them safety and security alerts.

    “Increased processing of thousands of interview waiver-eligible nonimmigrant visa applications each week made it quicker and easier than ever for Indians to renew their nonimmigrant visas,” the statement said.

    By streamlining operations and utilising global consular resources, the U.S. Mission has been able to redirect its own resources to focus on in-person interviews, reducing wait times for all applicants.

    More Indian students than ever before now have US student visas.

    In 2024, India became the top sender of international students for the first time since the 2008/2009 academic year with more than 331,000 students overall studying in the United States, the embassy said in the statement.

    India also remained the largest sender of international graduate students in the United States for the second year; Indian graduate student numbers increased by 19 percent to reach almost 200,000 students, it said.

    “Many exchange visitors will now be able to remain in the United States and not need to return home for two years after completing their programs in the United States, offering them more opportunities to further their careers and education,” the statement said.

    “The removal of India from the Exchange Visitors Skills List has provided greater flexibility for these Indian J-1 nonimmigrant visa holders,” the statement said.

  • Women investors in mutual funds grow 2.5 times in 2024: Groww report

    INVESTMENT

    Women investors in Indian mutual fund industry grow 2.5 times in 2024IANS

    Women investors in the Indian mutual fund (MF) industry, especially from the smaller cities and towns, have grown more than 2.5 times (year-on-year) on average amid the boom in the stock market, a report showed on Saturday.

    Women’s financial inclusion is increasing across urban and emerging regions and tier 4 cities saw a whopping over 140 per cent growth in women’s participation in the MF market, according to data shared by online brokerage Groww.

    “While we had amazing growth across all segments in 2024, two segments stood out. Rise of women investors – number has doubled this year. And the number of portfolios with size greater than 1 crore tripled this year,” Lalit Keshre, Co-founder and CEO, Groww, posted on X on Saturday.

    The women’s participation in MFs saw more than 100 per cent growth in Metro, tier 1, 2 and 3 cities.

    Systematic Investment Plans

    Women’s SIP contributions are 25 per cent higher than men’sIANS

    Among the cities with the highest number of women MF investors are Delhi, Mumbai and Kolkata (Metro) and Pune, Lucknow, Nagpur, Ahmedabad and Jaipur (Non-Metro).

    “Women’s SIP contributions are 25 per cent higher than men’s, and female SIP investors now make up one in four (compared to one in five last year),” the data showed.

    When it comes to monthly SIP contribution, the average ticket size is Rs 2,500 (indicating a focus on long-term wealth).

    Among the women SIP investors, 50 per cent are less than 30 years of age, followed by 33 per cent in the 30-40 year bracket and 17 per cent are age 40 and above.

    Meanwhile, the Indian mutual fund industry saw a meteoric rise in 2024, as the assets under management (AUM) of all MF schemes increased by more than Rs 17 lakh crore this year.

    According to data from the Association of Mutual Funds in India (AMFI), the mutual fund industry’s AUM was Rs 68 lakh crore at the end of November 2024, which is Rs 17.22 lakh crore or 33 per cent more than the December 2023 figure of Rs 50.78 lakh crore.

    A record 42,76,207 investors joined the Indian stock market in November, the National Stock Exchange (NSE) data showed.

    As per a latest SBI Research report, the country is witnessing at least 30 million new demat accounts being opened every year since 2021.

    (With inputs from IANS)

  • AAP government’s New Year gift, Electricity charges reduced by up to 50 percent…


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    Delhi Election 2025: The Aam Aadmi Party government of Delhi has given a big gift to the people of Delhi on the occasion of the New Year. According to the statement issued by the ‘AAP’ government, the surcharge on electricity bills has been reduced significantly just before the assembly elections. This will give great relief to the people and the electricity bill will also reduce.

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    In fact, the rates of Power Purchase Adjustment Charge (PPAC) which were earlier 35.83 percent for BRPL, 38.12 percent for BYPL and 36.33 percent for TPDDL. Now it has been reduced to 18.19 percent, 13.63 percent and 20.52 percent respectively. After this reduction, the electricity bills of all consumers of Delhi will come down. Delhi Chief Minister Atishi also holds the power ministry. He said that this has been possible only because of the honest and people-friendly government of Aam Aadmi Party.

    Chief Minister Atishi said that the Delhi government has been able to achieve this (electricity surcharge) only through proper management and pre-planning of the power supply chain. He also informed that in neighbouring cities like Noida and Gurugram, not only are the electricity rates high, but there are also frequent power cuts during the summer season. Whereas in Delhi, people enjoy 24-hour power supply and due to our policies, in many cases their electricity bills are also zero.

    Chief Minister Atishi said that the Delhi government has always given priority to protecting consumers from increase in electricity tariffs. So that the electricity distribution companies (DISCOMs) follow the rules set by the Delhi Electricity Regulatory Commission (DERC). DERC, which is the only authorized body to impose Power Purchase Cost Adjustment Charge, works under its ‘Tariff Regulations 2017’. In this manual, all the details of the process, framework, approval, recovery and adjustment related to PPAC have been decided.

    Related Articles:-


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  • OpenAI’s o3 reasoning model ignites AI hype among top influencers

    artificial intelligence.(photo:Pixabay.com)

    OpenAI’s o3 reasoning model ignites AI hype among top influencersIANS

    Social media influencers have kicked off a fierce debate over OpenAI’s new o3 reasoning model, with some of them raising concerns about its high cost and the potential for overhyping its artificial general intelligence (AGI) capabilities.

    Several of them also expressed awe at its impressive performance across various benchmarks, including exceeding human performance on coding and scientific reasoning tasks, according to GlobalData, a leading data and analytics company.

    Influencers are particularly captivated by o3’s ability to perform complex tasks autonomously, potentially exceeding human capabilities in nearly every cognitive domain, and its demonstration of a ‘private chain of thought’ approach, allowing for more reliable answers, said Shreyasee Majumder, social media analyst at GlobalData.

    However, there is significant debate surrounding the model’s cost-effectiveness and its potential for generalizability across different problem domains.

    Some influencers highlight the massive compute required for o3, pointing out that while it may be a significant step forward, its real-world applicability is still limited due to its high cost.

    “Additionally, some influencers challenge the claims of achieving ‘AGI’, arguing that while o3 demonstrates impressive capabilities, it is not yet capable of true general intelligence and lacks robustness across all problem types,” said Majumder.

    According to Elvis S, Cofounder and CEO at DAIR.AI, the hype around o3 is out of control.

    “It’s not AGI, it’s not the singularity, and you definitely don’t have to change your worldview. In fact, the public doesn’t even have access to the models so how can anyone claim any of the above. I appreciate how the OpenAI researchers presented o3,” said Elvis.

    Aaron Levie, CEO at Box, added that OpenAI’s o3 model appears to be better at reasoning than any other model out there.

    Artificial intelligence and machine learning

    OpenAI’s o3 Reasoning Model Sparks Debate Among Influencers Over AI Capabilities and Cost-EffectivenessScott Graham from Unsplash

    “It costs way more to operate, but that’s irrelevant. What is expensive today is cheap tomorrow. Quality is all that matters because you know that costs will always drop,” he mentioned.

    Chamath Palihapitiya, CEO at Social Capital, said the AI model sets new performance records across multiple benchmarks, achieving 96.7 per cent on the American Invitational Mathematics Exam, 87.7 per cent on graduate-level science questions, and a Codeforces rating above the 99th percentile.

    (With inputs from IANS)