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MBA 2A

WEEKLY NEWS

39 Indian cos. in Forbes 'Best Under A Billion' Asia list

Among the 200 companies listed by the magazine, 39 Indian 71 based in China and Hong Kong.

Number of Indian companies increased from 20 in last year's list.

Main reason behind more Indian companies making it to the list - country being less open than many Asian economies and therefore less affected by global downturn.

Some companies in the list – Jindal Drilling & Industries Emami Allied Digital Services Exide Industries Jubilant Organosys Spice Mobility Zydus Wellness Amara Raja Industries Compact Disc India

List is chosen from nearly 13,000 publicly-listed Asia-Pacific companies with actively traded shares and having sales in the range of USD 5 million- USD 1 billion.

IDBI sets new benchmark, no balance needed for accounts

In a move aimed at increasing its share of current and savings account (CASA) deposits, IDBI has done away with the concept of minimum balance on these accounts and has waived off most service charges except those pertaining to bounced cheques.

The services on which the bank has waived off interbank charges include cash withdrawal from ATMs above 10,000 a month.

IDBI Bank, which was earlier a financial institution and was merged with IDBI Bank in 2004, has around 35 lakh customers.

Infosys BPO loses work from Deutsche Bank

Deutsche Bank is moving a portion of its back office processes from Infosys BPO to its captive centre in the city.

Critical processes related to clients' trade and derivatives will move to Deutsche Network Services in Whitefield.

Some 150 people are working on this process. Infosys has another 500-plus BPO executives working for various other processes of Deutsche Bank who will remain with Infosys. Following the bank's decision, Infosys sent an official communique to the 150 employees giving them the option to leave the company to be with Deutsche Network Services for much higher salaries.

Sharma backs FDI in multi-brand retail, says opening up to create more jobs

 

Opening up the sector will allow retail giants like Wal-Mart and Carrefour to tap India’s growing retail market, currently estimated at over $400 billion and growing at 13%.

The present FDI regime allows 51% foreign investment in single brand retail and 100% in wholesale cash and carry, but none in multi-brand.

Allowing foreign investment in multi-brand retail will not lead to weakening of the unorganised retail since it is also modernising itself.

Will generate tens of millions of jobs from sorting to processing and from packaging to marketing.

Lead to creation of much needed infrastructure such as warehouses and cold-storages.