The ensuing liquidity crisis has prompted many MFIs to seek a moratorium on loan repayment to banks.MFIs raise 75-80 per cent of their funds via bank borrowings, 15 per cent from equity and another 10 per cent from other sources like cash securities.
Tata Consultancy Services (TCS), the country's largest information technology services company, will hire 50 per cent more students from campuses for 2011-12.
The Insurance Regulatory & Development Authority (Irda) is planning to cap the charges on universal life policies, or ULPs. These have almost replaced unit-linked insurance plans (Ulips) in terms of new business. Ulips, which used to account for around 80 per cent of the segment, lost their sheen after the regulator brought in stringent norms from September 1.
After having failed to stump up the cash for an event cancellation policy of Rs 713 crore (Rs 7.13 billion), the organising committee of the Commonwealth Games in Delhi has decided to take a limited cover, with a total sum assured of Rs 140 crore (Rs 1.4 billion).
The development comes a day after a shootout near Delhi's Jama Masjid, which left two Taiwanese tourists injured, prompted authorities to place both New Delhi and Mumbai on red alert.
India's second largest information technology services provider, Infosys, believes businesses in the US, including the government, will continue to favour global sourcing. This despite the increase in anti-outsourcing voices and a ban on it by the Ohio state government.
By packaging rates and stabilising costs, insurers expect to cut expenses.
Slum rehabilitation projects, increase in FSI trigger frantic activity by funds.
Tata Consultancy Services has become the second-largest insurance business process outsourcing provider in the UK, after winning two deals worth 250 million pound (around Rs1,800 crore).
India's insurance industry is set for a makeover as it seeks to survive and grow in a changed environment that dawned on September 1. With a three-month spat over who will regulate unit-linked insurance plans (Ulips) settled, the Insurance Regulatory & Development Authority (Irda) in July announced sweeping changes to the way insurance companies do business.
Hewlett Packard has lost its personal computer market leadership in India for two reasons: Dell's focus on the retail and SME segments has started paying off and its new distribution strategy is going through initial troubles.
The new rules of the Insurance Regulatory and Development Authority take effect from September 1.
After doing business at very high costs for a decade, the life insurance industry will have to ensure greater volumes.
One tenth mobile subscribers in India own multiple mobile phone connections, says a report.
Mahindra Satyam's Gurnani to be CEO after Tech M integration.
The seemingly paradoxical reason is rising attrition and growth in demand from the US, the industry's biggest market.
Under this programme, employees can work on innovative ideas, for which the firm will provide funding and help in setting up a team. The programme is part of the company's initiative to allocate 10 per cent of their cash reserve to initiatives that are technology-led.
Capgemini, which reported revenue of 8.4 billion in 2009, is perhaps the only European IT services firm to have successfully used its India centre as an innovation hub, as a large offshoring centre and tap the domestic market for growth.
The Insurance Regulatory and Development Authority (Irda) has stuck to its guns on returns from unit-linked pension plans. Despite several representations from the industry, the regulator has decided that insurers will have to provide guaranteed returns of 4.5 per cent on gross premiums until March 11, 2011.
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