TCS is setting up a large BPO operation in Varanasi next year, some staff could be absorbed there
he government is examining a plan of bank recapitalisation and considering an urban version of MNREGS.
'If we could get through this year, future hurdles, traumas and tragedies will be easy to face.'
The NDA government will be following the footsteps of its predecessor, the UPA, which had introduced the concept of "loan mela" to boost credit by directing banks to lend to people through public meetings.
Cab aggregator Ola is laying off 1,400 staff from rides, financial services and food business as revenues declined by 95 per cent in the last two months due to coronavirus pandemic, a note by CEO Bhavish Aggarwal said. In an email to employees, Aggarwal made it clear that the prognosis ahead for the business is "very unclear and uncertain" and the impact of this crisis is "definitely going to be long-drawn for us".
Defiant Brazil manager Dunga brushed off suggestions that early elimination from the Copa America would cost him his job on Sunday, telling reporters that he feared 'only death' and not unemployment.
The 56-year-old German quit the Mumbai-based company after 18 months on the job, citing personal reasons.
If you default, it will affect your credit score and your career.
Central bank likely to keep tabs on large wilful defaulters; policy likely by month-end.
The circular says even a day's delay in servicing loans would be now taken as a 'default'. And once in default, for loans above Rs 2,000 crore, the banks will have to arrive at a resolution within 180 days, else lenders will have to file an application under the IBC within 15 days.
It is not clear at this stage whether Tata will take up the government's offer of taking a 25 per cent stake in the business.
'The financial sector's performance in the first two quarters was a revelation.' 'It clearly showed the clean-up had been done in the past one-and-a-half years and that capital brought in was significantly stronger.'
If credit card delinquency spells trouble, there may be questions with regard to the much bigger retail sub-categories of car and housing loans, notes T N Ninan.
A year ago, Greece's bankers thought they were on the cusp of a new era.
A senior bank official said the preliminary report would come in three months.
If banks cannot charge interest from borrowers during the moratorium, who will bear that cost? Should the depositors subsidise the borrowers by foregoing interest on deposits? In that case, we will turn banking on its head! notes Tamal Bandyopadhyay.
'The workers's dance of wilful destruction has the potential to kill all investments planned in India by any foreign entity,' argues Dr Sudhir Bisht.
Facing the twin task of fighting the coronavirus pandemic today and building a better tomorrow, the world is experiencing a new Bretton Woods moment, IMF managing director Kristalina Georgieva said
IIM-Ahmedabad has written to Flipkart co-founder Binny Bansal on the issue, saying the students felt cheated for no fault of theirs for choosing the company over other brands and will suffer as they have to re-pay their education loans.
'The Insolvency and Bankruptcy Code cleans up non-performing assets and puts companies in capable and credible hands.'
13 eminent economists, including former RBI governor Raghuram Rajan and current International Monetary Fund Chief Economist Gita Gopinath, in a report have asked the political establishment not to resort to populist tricks.
Former Test cricketers W V Raman, Narendra Hirwani and T A Sekar have been appointed on the coaching panel of the National Cricket Academy (NCA), the Board of Control for Cricket in India announced on Wednesday.
Stating that recent agriculture reforms have opened new opportunities, the RBI Governor said the farm sector is emerging as a bright spot.
Aditya Birla group flagship firm Hindalco Industries has decided to trim its overseas operations and is restructuring its capital expenditure in India in an effort to stabilise operations. As part of this overall plan, Novelis, which Hindalco acquired for $6 billion in 2007, is closing its sheet mill at Rogerstone in the UK, involving 440 job losses.
In his first address to NRIs outside India after taking over as Congress president, Rahul Gandhi accused the government of dividing people on the basis of caste and religion, alleging it was converting the anger of jobless youth into hatred among communities.
'Since the NDA took office in 2014, and aggressively since 2019, the Union government seems hell bent on centralising all power and resources, only to fail spectacularly.'
The government may have to resort, eventually and however unwillingly, to printing money, abandoned as policy and practice in the 1990, predicts T N Ninan.
The steady decline of economy recently made Chinese youth anxious.
Calling Infosys' performance in 2013-14 "stellar", "laudable" and "creditable", the co-founder said the task ahead was "simple to state": Achieve sector-leading growth.
After a meeting of banks on Friday on ways to make funds available immediately, a source in the know said lenders other than SBI and Punjab National Bank had not come on board so far to chip in with their funds.
The Budget would have been the perfect vehicle to introduce some bold initiatives.
That opportunity has been lost through this Budget, observes Shreekant Sambrani.
In an interview with Peerzada Abrar and Romita Majumdar, Cisco CEO Chuck Robbins said that his company would continue to bet heavily on India's engineering talent pool.
Images from Saturday's action in the English Premier League.
The privately-held company founded by Indian-American Amar G Bose would not say how many positions would be eliminated at its corporate headquarters in Massachusetts or how many workers it employs there. Bose issued a statement on Tuesday saying it was 'restructuring its operations in response to the decline of the global economy, and its impact on consumer spending.'
Foreign lender HSBC has decided to slash 193 jobs in its Indian consumer assets business segment after reviewing its portfolio in the backdrop of the prevailing economic conditions, the bank said.
Kaushik Khona's second innings at GoAir will be more challenging than the first. Globally, the aviation industry is in deep distress because of the pandemic, reports Aneesh Phadnis.
Like everything else, the structure of banks may change, and banks may depend more on digital technologies and artificial intelligence for dealing with both their customers and employees.
All those who joined Prasar Bharati before October 5, 2007, will be treated as government employees on "deemed deputation". At present, the status of these employees is not clear as they are treated as on "deemed deputation" and don't get the benefits of a government job like regular promotions, government housing and bonuses.
eBay says it has cut jobs at its centre in Bengaluru in favour of shifting them to other locations around the world.
Assets that are on the block include loans, proprietary bond and equity investments.
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