Google teams up with Intel, Sony for TV project

The effort would help Google and Intel to extend their dominance of computing to television, an arena where they have little sway, while for Sony, the partnership is an effort to get a leg up on competitors

Internet search engine giant Google has teamed with Intel and Sony to develop Google TV, a platform for bringing the Web into the living room via televisions and set-top boxes, says a media report.

The Google TV project has been underway for several months and is based on its software Android, which is available in some smartphones, The New York Times reported.

The effort would help Google and Intel to extend their dominance of computing to television, an arena where they have little sway. For Sony, which has struggled to retain a pricing and technological advantage in the competitive TV hardware market, the partnership is an effort to get a leg up on competitors, it added.

Spokesmen for Google, Intel and Logitech declined to comment, while a Sony spokesman said he was not familiar with the project, the daily said.

According to the publication, the partnership would make it as easy for TV users to navigate Web applications, like the Twitter social network, as it is to change a channel.

In addition, the report said that the three companies have tapped Logitech, which specialises in remote controls and computer speakers, for peripheral devices, including a remote with a tiny keyboard.

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CIBIL in pact with 31 MFIs to set up credit bureau

CIBIL has entered into an agreement with 31 microfinance institutions to set up a microfinance credit information bureau

Credit information company, Credit Information Bureau (India) Ltd (CIBIL) on Thursday said that it has entered into an agreement with 31 microfinance institutions (MFIs) to set up a microfinance credit information bureau.

These MFIs are part of the Micro Finance Institutions Network (MFIN), which was set up recently as a self-regulatory organisation of MFIs, it said in a release.

"The establishment of Micro Finance Credit Information Bureau is a vital step towards inculcating financial discipline among the borrowers of micro-loans and will increase credit penetration," CIBIL's managing director Arun Thukral said.

The credit bureau will help promote responsible lending and enable MFIs to assess the credit worthiness and current exposure levels of loan applicants, Mr Thukral said.

Quoting a CRISIL report, CIBIL said that the Indian microfinance sector is estimated to comprise around 120 million households that translate into a credit demand of Rs1.20 trillion.

"MFIs already serve over 25 million customers who have no documented credit history. The task of tracking the credit history of such large numbers is challenging. By supporting this initiative, CIBIL will be participating in a nation-building effort," MFIN chairman Vijay Mahajan said.

Currently, CIBIL has a database of over 155 million records and a member base of over 200 financial institutions. Its major shareholders include SBI, HDFC, Dun & Bradstreet and TransUnion.
 

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