The Reserve Bank of India (RBI) on Wednesday gave banks time till October 31 to comply with its guidelines on current account and overdraft facilities. The central bank indicated that it was in no mood to change the proposed rules, but would only allow for stretching the timeline for smoother implementation. The initial deadline had ended on July 31, leading to thousands of current accounts being closed or frozen by banks. Lenders had requested the RBI for some more time to resolve the operational issues in implementing the provisions of the August 2020 circular in letter and spirit.
The applications range from disaster recovery to predicting demand and understanding customer choices using artificial intelligence.
Visa delays have perturbed Indian visitors this summer. But a solution could be in sight soon, as embassies gear up to address the challenges caused by a spike in applications and staff shortages. While the British High Commission has said it is working urgently to reduce the current visa processing time, the German Embassy has introduced extra shifts to process more visas. However, appointments with the latter are fully booked till August-end due to high volumes.
In tougher times, there seems to be an overwhelming focus on managing the large or anchor clients.
TCS plans to build ignio as a standalone company.
What's required is proper implementation of the rules and better coordination between market intermediaries such as stock exchanges and clearing members who play a key role in monitoring brokerages.
From powering mobile devices, US chip designer Qualcomm has tied up with Ola Electric to power its electric scooters. Qualcomm is providing the key 4G connected octa core android platform which provides connectivity, computing capabilities and enables rich immersive displays with power saving software.
ignio has more than 75 patents filed in the artificial intelligence, machine-learning and intelligent-automation space
While HackerEarth has clients and developers globally, the US consists more than a third of the revenue stream, and plans to ramp it up to 60 per cent of the total share.
Infosys, Facebook, Genpact, and Cognizant, among others, have reached out to employees and offered support in different ways as the second wave of Covid cases sees an exponential rise. Companies are asking employees to stay indoors and prioritise the health and safety of their families. This is of significance as several information technology firms were going to take a call on work-from-home from June and had plans to allow some employees to come back to work.
The states recording the highest number of such deaths include Karnataka (14.3 per cent), Maharashtra (13.2 per cent), and Madhya Pradesh (11.3 per cent). Tamil Nadu (9.4 per cent) and Telangana (7.5 per cent) were the other two in the top five.
IT industry's growth will largely be led by next-generation technologies and services with areas like data, cloud and cybersecurity expected to see huge incremental growth, Wipro CEO Theirry Delaporte said. Wipro has also closed several acquisitions in the second half of FY21 across key markets like the US and Europe, which has helped the Bengaluru-based company strengthen its local presence and service offerings, he said in his note in the company's FY2020-21 annual report. "We know that industry growth will largely be led by next-generation technologies and services. "We can therefore expect to see huge incremental growth in areas such as digital, cloud, data, engineering, cybersecurity.
Always acknowledge what you don't know and know that there are many paths to an end goal, says three-time founder and CEO Neha Sampat.
Foxconn has said it is aiming to develop 10-12 facilities in India, including factories and data centres, by 2020
'The heart is to honour all who have been struck by Covid and the map signifies that as a country, we can win this together.'
The Wire has reported that phone numbers of multiple people close to Dubai Princess Sheikha Latifa, who was captured by Indian soldiers in 2018, were added to a list of potential targets for surveillance.
Among the sectors, the survey has projected IT, pharma and life sciences, and ITeS among those looking to effect the highest increase in salaries.
'We're seeing major Bollywood celebrities, fashion icons, and even movie studios all wanting to build Metaverse experiences'
Indian IT services firm Infosys and Rolls-Royce, an aerospace and defence technology major, on Wednesday announced signing a strategic partnership for sourcing engineering and R&D Services for the latter's Civil Aerospace business. As part of the overall partnership, Rolls-Royce will "transition a significant part of its engineering centre capabilities for civil aerospace in Bengaluru to Infosys", a statement said. However, the number of people who will move to Infosys was not disclosed.
Upgradation to the new product (from Infosys) will stabilise by this month-end
Prasad said the probe by the CBI will determine whether Cambridge Analytica violated the Information Technology Act, 2000 and the Indian Penal Code.
Leading microchip providers Qualcomm and Intel say the chip shortage might last anything between four months to a year, perhaps even two years, depending on the various product categories - mobile devices, ICE, electric vehicles, appliances, data centres. Prakash Mallya, MD, Intel India and vice president, sales and marketing and communications group, said the spike in demand was huge, and cut across segments from PCs, phones, appliances and auto leading to the shortage.
Partnership will ensure that Intel's chips sell better in systems that are used by large enterprises
The volume of shares traded in the stock market had fallen 28 per cent in April. Turnover, or the value of securities changing hands, fell 12.6 per cent. This trend of falling volumes seems to have stabilised in May.
Minimum investment size under portfolio management services may be raised, so that small players can avoid risk.
'In a secular society where women are treated equally by law, I want the same equal status for my daughters in society, on par with all the boys.'
Deloitte's recruitment process will involve a resume screening, a telephonic interview, and a face-to-face interview if you apply online, says Sarvesh Agrawal.
Business executives are finally dusting off their long-unused suitcases to resume travel, thanks to a good vaccination rate, a drop in fresh cases, and an easing of travel restrictions. It comes as a huge relief for the ravaged aviation, travel and hospitality sectors. "We are witnessing a 40 per cent recovery on pre-covid volumes from our business travellers, signalling the return of corporate confidence in air travel," said Indiver Rastogi, president & group head, Global Business Travel, Thomas Cook (India) & SOTC.
Reliance Industries has put together an aggressive plan to build its drone business which includes expanding manufacturing capacity five-fold, participating in the new drone production linked incentive scheme, and experimenting with limited logistics payloads to deliver goods. The target is to become a key player in the expected $5 billion market in India by the end of the decade. The drone business is being carried out through a Bangalore-based start up, Asteria Aerospace, in which Reliance has taken a majority stake. Asteria is a subsidiary of Jio Platforms Ltd.
You have to make yourself visible and create opportunities for yourself, advises Gaurav Goyal, co-founder, Scalenut.
Growing protectionism in their main markets - the US and the UK - has forced them to hire local workers, upending the cost arbitrage model they had built their business on.
Sapience offers an innovative solution to measure the productivity of office and mobile workers, with almost no manual inputs from managers or employees, says Romita Majumdar.
We have created centres of excellence in areas like user interface design, user experience, cyber security - all the things required to bring the solutions to the market, says N Chandrasekaran.
LabGo will soon a first ever-online directory for searching laboratories across India.
The Supreme Court on Monday appointed former apex court judge Justice R V Raveendran as a mediator to settle the family property dispute involving businessman and former IPL head Lalit Modi and his mother Bina Modi. The apex court observed that counsel appearing for both sides agreed that they would go without any pre-condition and with an open mind to settle the dispute in mediation. "....We also think the issue can be resolved by way of mediation," a bench headed by Chief Justice N V Ramana said. "Accordingly, we appoint Justice R V Raveendran, a retired judge of this court, to mediate and settle the dispute," said the bench, also comprising justices Krishna Murari and Hima Kohli.
Minacs will be integrated it into SYNNEX's BPO business, Concentrix.
'The kind of jobs the advent of artificial intelligence, data science and so on are creating simply didn't exist before'
N Ganapathy Subramaniam, chief operating officer (COO), discusses the strategy to concert digital opportunities to larger deals, focus on reskilling own people instead of acquiring a company to get access to skillsets and demand from newer verticals in an interview with Romita Majumdar
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The Council includes companies like Tata Motors, Flipkart, Airtel, P&G, Madison World, ICICI Bank, HUL, Micromax and Future Group among others.
IT major Tata Consultancy Services (TCS) has made changes to its leadership roles in North America. As part of the changes Suresh Muthuswami has been elevated to the role of chairman, North America, said sources in the know. This is one of the most significant leadership changes the company has announced for the region. The reason for the changes in the North American region, the largest in terms of revenue for TCS, is because Surya Kant who has been at the helm of North America for the past 16 years is stepping down by the end of the fiscal year, as he retires.
