Small-town India is warming up to foreign banks, finally.
Firstsource was perhaps the first BPO that set shop in the US city of Buffalo in 2004 with 287 employees.
But, will help Indian funds get more deals
Bhargava along with Harsha Raghavan, the former India head of Candover Investments, have formed Steer Capital.
"The general benchmark that we are getting to hear is in the range of 5-15 per cent. Clearly, the 30-40 per cent hike days are behind us. Along with the slowdown in the US markets, there is a general mismatch in demand and supply. I think firms are being cautious before announcing huge hikes," says Shiv Aggarwal, CEO of ABC Consultants.
The 'First Status Report on Technology Business Incubation' in India also stated that 20 to 30 per cent of incubated companies make it big.
Faced with a rising number of customer complaints on excessive charges, the Reserve Bank of India has asked the Indian Banks' Association to come up with guidelines on what the reasonable charges should be.
Day Zero was created when demand for IIM graduates had peaked and the institutes had to resort to creative mathematics to accommodate big recruiters without offending the existing ones. Falling job market has forced the B-schools to review the strategy, including placement fee revision.
Mahindra Satyam still has to face 13 Class Action Law suits filed in the US. Analysts peg the cash outflow for these cases to be around $100 million. Satyam also has to get large marquee outsourcing deals, and is yet to restate its accounts which will give investors a good picture of where the company stands.
For start-ups, the model can save 30-40 per cent of the total costs.
Capgemini, the information technology services and consulting major, plans to add 6,000 people in India over the next 12 months, which will make this the company's largest global centre, with over 26,000 employees. The company has a little over 20,000 employees at its headquarters in Paris.
Tighter norms, better economy reduce credit card non-performing assets.
Bing clocks 18 million visits every month, while Google India has unique monthly visits of 753 million.. Analysts say while Bing is in its infancy, it can grow up rapidly once it powers Yahoo! searches across the world.
The company plans to strengthen the offerings of its digital platform, Adtech, which it launched a few months back.
The exit of the big movers has meant more opportunities for local players such as Nambiar Finance, which is just one of the 1,465 non-deposit-taking NBFCs registered with the Mumbai office of the Reserve Bank of India.
VoIP services come in real handy to make cheap overseas calls.
When United States-based drug major Merck bought Schering-Plough early this month, it decided to go off the beaten track. Instead of having one managing director for the merged entity, it decided to retain both: Naveen A Rao will continue to head Merck's subsidiary MSD Pharmaceuticals in India and K G Ananthakrishnan will retain his position as MD of Schering-Plough's subsidiary Fulford India.
Almost 80% mid-sized firms plan to raise IT budget for 2010.
WNS, an NYSE-listed business process outsourcing company, recorded good second quarter numbers, reflecting the improving market conditions in global markets. Neeraj Bhargava, Group CEO, attributed the performance to better volume growth and a robust pipeline. In a chat with Business Standard, he spoke about the recent stake sale talks with Warburg Pincus, appointing a new CEO and other issues.
That the flow of deals has resumed is evident from the third quarter Global TPI Index that tracks commercial contracts valued at $25 million or more.
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