Parekh in a video address to employees expressed delight on leading the iconic company
Human Rights activist Gopal Krishna speaks at length to Prasanna D Zore on what ails the UID project and why he thinks it should be scrapped.
Sources said bank chiefs would discuss the challenges of taking the UID project ahead by accessing the data available with the branch network (for corroborate identity). Bank branches have extensive nationwide data about their customers. Unique identity envisages authentication -- "Are you who you claim to be?
Two weeks since the much talked about new income tax return filing portal was launched, technical glitches continue to mar the site, an issue finance ministry officials will take up in a meeting with Infosys -- the vendor which provided the IT solution -- at a meeting on Tuesday. Several stakeholders have submitted written inputs highlighting the issues facing the portal as well as areas that need to be fixed. At the company's annual shareholder meeting, Infosys had on Saturday stated that it is working to resolve the issues and has already succeeded on some fronts.
The results will give an indication whether Nilekani would continue with the software plus services strategy adopted by Sikka, or tweak it to reflect his worldview of the explosion in data.
Finance Minister Nirmala Sitharaman on Monday said technical glitches in the new income tax e-filing portal will be largely fixed in the next few days and that she has been constantly reminding Infosys about the issue. "I have been reminding Infosys (the vendor which developed the new portal) constantly, and (Infosys head) Nandan Nilekani has been messaging me with assurances that next couple of days they will sort out majority of problems," she said. To a large extent, the system is far better than what it was in June but still some issues are there, she said.
Murty, daughter of Infosys co-founder Narayana Murthy, held 3.89 crore shares, or 0.93 per cent, of Infosys at the end of September, according to company filings with the stock exchanges.
The Supreme Court on Thursday asked the Sebi to probe within two months allegations of stock price manipulation by the Adani group and any lapses in regulatory disclosures, and also set up a panel to look into protection of Indian investors after a damning report by a US short seller wiped out more than USD 140 billion of the conglomerate's market value. The top court while directing the setting up of a six-member committee headed by former apex court judge Justice A M Sapre for the assessment of the extant regulatory framework and for making recommendations to strengthen the process said it was appropriate to set up such a panel of experts in order to "protect Indian investors against volatility of the kind which has been witnessed in the recent past". The court-appointed Justice Sapre panel, which will be provided assistance by the Centre and other statutory agencies including the Sebi chairperson, will have to submit its report in a sealed cover within two months, said the bench which comprised Chief Justice D Y Chandrachud and Justices P S Narasimha and J B Pardiwala.
The list of governmental and corporate intervention based on information technology is growing all the time.
This will be done across five cities - Delhi, Bengaluru, Coimbatore, Bhopal, and Shillong. Thereafter, it will be scaled up and launched in 100 cities over a period of six months, said a senior government official.
Indian start-ups breathed a sigh of relief after the UK government facilitated the acquisition of the now-defunct Silicon Valley Bank's (SVB's) British arm by HSBC. In a bid to allay fears, the US Federal Deposit Insurance Corporation (FIDC) announced recently that it had transferred all deposits of start-up-focused SVB to a newly created bridge bank and all depositors would have access to their money. President Joe Biden also sought to reassure jittery depositors that they can have confidence that the US banking system is "safe".
IT major Wipro's Azim Premji donated Rs 22 crore a day or Rs 7,904 crore in a year to emerge as the most generous Indian in FY20 and top a list of philanthropy. Premji pipped HCL Technologies' Shiv Nadar, who had earlier topped the list collated by Hurun Report India and Edelgive Foundation, by a wide margin.
Finance Minister Nirmala Sitharaman on Tuesday reviewed with Infosys officials the technical glitches that continue to mar the new income tax e-filing portal. Sitharaman, along with Minister of State for Finance Anurag Thakur, revenue secretary Tarun Bajaj, CBDT chairman Jagannath Mohapatra and other senior ministry officials, went point by point on the issues facing the new portal with officials of Infosys - the vendor which developed the site. While there was no official word on what transpired at the meeting, a statement issued by the Institute of Chartered Accountants of India (ICAI) said "the technical glitches shall be addressed fast". ICAI representatives attended the meeting on Tuesday.
'In the case of Aadhaar, we were able to build and enrol 1 billion in five-and-a-half years.' 'For vaccination, it can be done even faster -- in just two years.' 'When everybody is coming for vaccination, they can be offered a choice -- to create a health record and a digital ID.'
A week after the Income Tax Department's much publicised new e-filing portal went live, users continued to face technical glitches ranging from longer than usual logging time, inability to respond to notices and not all features functioning yet, chartered accountants said on Monday. The new portal, "http://www.incometax.gov.in/"www.incometax.gov.in, was launched last Monday (June 7), which the tax department as well as the government said was aimed at making compliance more taxpayer-friendly. But users complained of technical issues facing the site from the very first day and not everything has been fixed even after a week, chartered accountants (CAs) said, adding that taxpayers are unable to view past e-filed returns and many features/ facilities continue to be marked 'coming soon'. Finance Minister Nirmala Sitharaman herself had asked Infosys - the vendor which created the portal - and its Chairman Nandan Nilekani to fix the technical glitches.
"The company has been in touch with the Securities and Exchange Commission (SEC) regarding the anonymous whistleblower complaints (anonymous complaints) and has learnt that the SEC has initiated an investigation into this matter. The company will cooperate with the SEC's investigation," Infosys said in a statement.
'We may bite the bullet and draw up plans for privatisation.' 'If that is done now, the sale of the government stake will fetch money; a delay will see erosion in whatever value is left in these banks,' says Tamal Bandyopadhyay.
Aadhaar, says former UIDAI chairman Nandan Nilekani, has followed 'all the design principles laid by the Supreme Court.'
It's debatable whether going back in time -- twice in a span of four years -- by bringing back a once-proven leader at the top is the correct thing to do when Infosys desperately needs to be made future-ready.
In a statement, Rosen Law Firm said it is investigating potential securities claims on behalf of shareholders of Infosys resulting from allegations that the company may have issued materially misleading business information to the investing public.
A book revolving around Prime Minister Narendra Modi's work and political and governance model with various chapters written by domain experts, his Cabinet colleagues and leading faces in different walks of life, is set to hit the bookstores next month.
The Microsoft chief's comments come in the wake of Bill Gates' call for levying taxes on robots that take away jobs from people.
Infy to cast wide net in CEO search, may go back to 'alumni'
The founders, who hold 12.75 per cent stake in Infosys, together with a dozen leading institutional investors with a cumulative stake of about 10 per cent forced the Infosys board to bring back Nilekani.
Their investments in start-ups exceed Rs 1,000 crore at present.
Nilekani said new-age technology markets work on a winner-takes-all basis.
I would prefer a government that is stable and progressive, a government that takes quick decisions, a government that is much more oriented towards creating jobs, and one that attracts a lot of foreign investments, says N R Narayana Murthy.
Terming the Satyam debacle as a 'black-eye',co-chairman of the country's second largest software firm, Infosys, Nandan Nilekani said on Thursday that is a setback to India's flagship IT sector. Talking about the fallout of the incident, Nilekani said, "Investors who have been shocked by this episode will obviously look for company numbers. We believe that the more data you share with the investors the better it is."
Azim Premji and his family gave away Rs 7,904 crore (Rs 79.04 billion) in philanthropy, up 1,645 per cent!!! over the previous year.
Going by the current pace, UIDAI seems unlikely to meet the target of issuing a million Aadhaar numbers a day to cover half the country by 2013.
When Open Network for Digital Commerce (ONDC) was conceived last December, the idea was to reduce the dominance of e-commerce giants like Amazon and Flipkart. It was also to bring in a level-playing field for small merchants in India's fragmented but fast-growing $1-trillion retail market. However, those goals have changed now as large e-commerce players such as Flipkart, Amazon and Ecom Express are in various levels of talks with the ONDC team. They want to form partnerships like integrating with the network as well as providing their expertise to build it, according to the industry sources.
'No matter the deep polarisation as evidenced in different media, there is a deeply ingrained culture of tolerance and openness. This is exactly the idea of India we are fighting for in this election.' Rohini Nilekani, whose husband Nandan Nilekani -- co-founder, Infosys, and former Chairman, Unique Identity Authority of India -- is contesting the Lok Sabha election from the Bangalore South constituency on a Congress Party ticket, on her experiences on the campaign trail.
The protocol aims to "democratise" lending, reduce costs of credit, and ensure accessibility of credit to small companies and street vendors, according to Nandan Nilekani.
Stating that GST council meetings have become "almost toxic" with the erosion of trust between the Centre and states, West Bengal minister Amit Mitra on Wednesday urged Union Finance Minister Nirmala Sitharaman to consider a "course correction" to rebuild faith. In a letter to Sitharaman, the state's finance minister also claimed that the central government comes to GST council meetings with a "predetermined conclusion". Mitra on June 13 alleged that his voice was "muzzled" during the GST Council meeting on that day and his opposition to levy taxes on Covid essentials like vaccines, masks, PPE kits and anti-viral drug Remdesivir, was not heard.
Nandan Nilekani's wife Rohini and Ananth Kumar's wife Tejaswini add a new dimension to the tough race for South Bangalore. Rediff.com's Vicky Nanjappa joins the two on the campaign trail.
Infosys Ltd co-founder Nandan Nilekani has joined the Congress party and will contest Lok Sabha polls from Bangalore South.
Infosys CEO Salil Parekh has got a massive 88 per cent jump in annual remuneration to Rs 79.75 crore, making him one of the highest-paid executives in the country. The software services firm has sought shareholders' approval for the reappointment of Parekh as chief executive officer and managing director for a second five-year term beginning July 1. According to the company's annual report released on Thursday, Parekh, 58, took home a salary of Rs 71.02 crore in the fiscal year ended March 31, 2022.
Will Nandan Nilekani actually fight the elections? While the I-T czar says the question is speculative, here's our list of 10 eminent business leaders who should get on the stump.
The I-T department issued a circular allowing manual filing of Form 15CA/15CB (required for foreign remittances) with banks till June 30, so that business transactions may go on. The forms will be uploaded online on the e-filing portal later, it added.
