Warren Buffett said use of AI to scam people will be the next big "growth industry". "If I was interested in investing in scamming, it's gonna be the growth industry of all time," he said at Berkshire Hathaway's annual shareholder meeting. "As someone who doesn't understand a damn thing about it, [AI] has enormous potential for good and...harm," he added.

The One97 Communications Limited (OCL), which owns Paytm, on Saturday announced to expand its leadership team to build a large and profitable payment and financial services distribution business.Bhavesh Gupta, President and Chief Operating Officer, who was overseeing the payments and lending businesses, has decided to take a career break due to personal reasons, the company said in a statement.

The IDBI Bank on Saturday reported a 44 per cent jump in standalone net profit to Rs 1,628.5 crore for the January-March quarter of 2023-24 compared to the corresponding figure of Rs 1,133 crore for the same period of the previous financial year.The bank's net interest margin declined to 4.91 per cent from 5.01 per cent in the year-ago quarter.

Avenue Supermarts, operator of the DMart retail chain, on Saturday, announced a consolidated net profit at Rs 563 crore for the January-March quarter of 2023-24 which represents a 22.4 per cent jump over the corresponding figure of Rs 460 crore for the same quarter of 2022-23.DMart opened 41 new stores during the year taking the total store count to 365.

From IPO-bound healthtech platform Pharmeasy to digital lending startup Kinara Capital, at least 27 startups in the country raised more than $340 million in funding this week.PharmEasy raised $216 million in a round led by Manipal Education and Medical Group (MEMG), along with others.

The practice followed by some managers allowing their team members to work remotely even though the organisation requires them to be present at work is called shadow policies. The managers are "apparently not afraid of their shadows", Forbes said. A Boston Consulting Group report said employees who believe their managers support them are four times less likely to switch jobs.

Mahindra & Mahindra Financial Services said fraud at one of its Mizoram branches has dragged down its Q4 profit by ₹135.86 crore. It had reported the fraud involving forgery of KYC documents and embezzlement of company funds, for which it delayed its Q4 results. The company had found 2,887 fraudulent loan accounts and lodged an FIR in March.

Meta employees, in an open letter to CEO Mark Zuckerberg, called out active attempts at censoring "any open support for...Palestinian colleagues or the millions facing a humanitarian crisis in Palestine", Business Insider reported. They said all discussions were prohibited even internally. They emphasised how many of them feel "unsafe" to the extent that they've even resigned from their stations.

Kotak Mahindra Bank CEO Ashok Vaswani said the Reserve Bank of India's (RBI) punitive action will have a "minimum" financial impact on the bank. He added its profit-before-tax (PBT) will likely be dragged down by ₹300-450 crore in FY25. RBI last month banned Kotak Mahindra Bank from onboarding new customers through its online channels and issuing fresh credit cards.

Billionaire investor Warren Buffett said that his investment firm Berkshire Hathaway made $100 million (about ₹833.80 crore) every day, including weekends, in 2023. Berkshire's shares have risen around 11% so far this year. Buffett said the company's earnings will rise "moderately" and that "the company's goal is to increase operating earnings and decrease the shares outstanding".