'All commercial and banking transactions happen in South Mumbai.'
MeitY is in discussions with global Fortune 500 and Fortune 1000 companies, mid-tier firms, and state government officials on a three-pronged approach to setting up new GCCs in India.
To repay the amount, the company would sell common stocks worth $10.4 billion and also raise $1.35 billion through its issuance to some employees instead of cash as part of their compensation this year, among others.
This effectively freezes the legal fight in the courts until Wednesday noon (2130 IST) following Wells Fargo and Wachovia announcement of $15 billion deal which bested the earlier deal with Citibank. Meanwhile, the Wall Street Journal said discussions to resolve the mess are continuing, with the most likely scenario resulting in Citigroup buying branches from Wachovia in the Northeast and mid-Atlantic region.
The Indian operations of will commence by October 2006 with over 500 employees in the first phase.
US-based financial services major Wells Fargo, which has set up an information technology and business process outsourcing facility in Hyderabad, is looking at locating back office processes, other than call centres, in India.
World No 2 Rory McIlroy, back at the scene of his first PGA Tour win, fired a five-under 67 at Quail Hollow on Thursday for a seven-way share of the first-round lead in the Wells Fargo Championship in Charlotte, North Carolina.
Wachovia's global operations were taken over by Wells Fargo last year and the two banks are in the process of integrating their operations.
Neo banks, along with mid-sized banks, are establishing global capability centres (GCCs) in India, mirroring the expansion strategies of larger global counterparts. This trend is being seen as the next major wave in the country's banking, financial services, and insurance (BFSI) sector.
Rory McIlroy won for the second time in three weeks and shattered the tournament record when he clinched a seven-stroke victory at the $7.1 million Wells Fargo Championship on Sunday.
"This individual has been terminated from Well Fargo," the firm said in a statement.
The accused had urinated on his co-passenger, a woman in her seventies, allegedly in an inebriated condition, in the business class of the Air India flight on November 26 last year.
Chandrasekaran also said that "We fell short of addressing this situation the way we should have."
However, WhatsApp exchanges between the woman's daughter and Mishra that emerged on Friday showed the family had returned money.
In a bid to gain a bigger share of the customer's wallet, banks are ramping up their cross-selling initiatives.
The Adani group will have understood the fragility of investor trust in the group. The group needs to improve transparency including in areas like share-ownership (which they have long and mistakenly believed can be side-stepped) and related-party transactions, among others, Amit Tandon and Hetal Dalal point out.
Conventional wisdom is that when the US sneezes, emerging markets like India catch a cold. And yet the Indian stock market went up last year, points out Debashish Basu.
A Delhi court on Saturday sent Shankar Mishra, accused of urinating on a woman co-passenger on an Air India flight, to judicial remand for 14 days while rejecting a plea by police for his custody.
The US government, under its $700-billion bailout plan, has purchased shares in 30 American banks for a total of over $150 billion, half of which have gone into Citigroup, JPMorgan Chase and Wells Fargo.
India's top golfer Anirban Lahiri has tested positive for COVID-19, ruling him out of at least a couple of events on the PGA Tour.
IIM Lucknow has concluded its 2020-21 final placements.
Top ten banks of the world includes 4 from the USA, 4 from China and one each from the UK and Australia
'Performance pressure elicits cheating when employees feel threatened.'
Of the 1,145 offers made this year, consulting firms made up 34 per cent, followed by banking, financial services and insurance, pharma/healthcare, IT/ITeS and FMCG/retail.
If elected, Hillary Clinton would become the first women president of the US.
Rickie Fowler delivered on his vast potential by claiming his first PGA Tour win at the Wells Fargo championship with a birdie on the first hole of a playoff against Briton Rory McIlroy and fellow American DA Points at Quail Hollow on Sunday.
Let's meet the illustrious winners of India Abroad awards 2010
But cautions about some damage in short term, next three quarters may see high volatility.
Wachovia Bank NA will pay $160 million to the US authorities to settle allegations related to its anti-money laundering compliance programme.
Daryan and Daryll Warner, sons of former FIFA Vice President Jack Warner, and their associates deposited more than $600,000 in cash at bank branches in New York, Miami and Las Vegas in the second half of 2011, according to a 2012 complaint in US District Court in New York that was unsealed on Wednesday.
From India, Reliance Industries is the only one in the overall top-200 list and is followed by HDFC Bank at 209th, ONGC at 220th, Indian Oil at 288th and HDFC Ltd at 332nd place.
Less than we used to --but we like some banks better than before.
The Indian IT services sector is scrambling to retain talent since digitisation-led transformation has increased the demand for a digitally skilled workforce. As a result, the pull for jobs for tech professionals is also coming from non-IT sectors, leading to higher attrition among IT companies. The average number of tech jobs from non-IT sectors has seen a 41 per cent uptick in March-May'21 versus March-May'19, according to data from Naukri.com.
Bollywood impresario Vijay Taneja was sentenced to 84 months in jail followed by three years of supervised release, and ordered to pay $33 million in restitution to four financial organisations, on charges of money laundering. Taneja, under the banner of Elite Entertainment, has been promoting Bollywood celebrities like Shah Rukh Khan and Aishwarya Rai for shows across the United States.
This is clearly the worst financial problem we've had since the Great Depression," as Joseph Stiglitz told a radio show in New Zealand on Wednesday morning.
Jaswinder Singh Sekhon, 27, now a Finnish national, used 200 stolen credit card numbers to defraud Wells Fargo Bank of $ 500,000.
Penalty must act as a deterrent. If it is too low, it could encourage the regulated entities to lap up penalty instead of complying with the norms, suggests Tamal Bandyopadhyay.
The Nasdaq Composite hit a high of 5,143.316.
Chinese companies show their prowess among the world's top companies.
Bankers pay a small price for their misdeeds, no matter how large the cost to their banks or to the economy at large, says TT Ram Mohan.
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