BUSINESS
UPI aims for 2 billion transactions a day by 2030, credit to spur next growth wave: NPCI CEO Dilip Asbe
Asbe said that UPI's next big goal will be to process 100 billion transactions per month. His comments came a few days after UPI crossed the milestone of processing over 10 billion transactions in the month of August.
BUSINESS
India is becoming an alternative for a globally diversified resilient supply chain: Intel’s Steve Long
What is driving business for the company in India is domestic consumption, We see more people buying PCs, and more projects to give people access to technology coming from the government, Steve Long, Intel's general manager for the Asia Pacific and Japan (APJ), said
BUSINESS
LTIMindtree gives many employees 0-2% hike, after delay
This is a trend that has been seen with most IT services majors this year, including Infosys, HCLTech, and Tech Mahindra.
BUSINESS
Exclusive: CoinSwitch lays off 44 employees in customer support team, cites role redundancy
The development comes at a time when the crypto industry in India is grappling with regulatory uncertainty and high taxation, which is causing liquidity issue for both the players and investors.
BUSINESS
Inside Intel’s largest processor assembly, test and manufacturing facilities
Moneycontrol goes behind the scenes to show how Intel makes the tiny chipsets that power your devices. Till date, Intel has invested over $14 billion to set up its Malaysia facilities.
BUSINESS
Troubled crypto lending startup Vauld to get new CEO, board members to bailout creditors
Darshan Bathija, co-founder and CEO of Vauld, said that the startup got its scheme of arrangement passed in Singapore courts. As part of the scheme, the current board will be replaced with a new CEO, a creditor representative, and a scheme manager.
BUSINESS
Never say never, but no plans yet to set up semiconductor manufacturing in India: Intel’s Steve Long
Intel is actively talking to multiple players in the India ecosystem to help them enter manufacturing, says Long
BUSINESS
India brings opportunity for consumption, is the fastest-growing market : Intel's Steve Long
The Asia Pacific and Japan (APJ) will drive Intel's roadmap to product leadership by 2025, APJ head Steve Long said.
BUSINESS
Bullish on India | Why India will be the AI talent hub of the world
According to Nasscom’s State of Data Science and AI Skills report, India has16 percent of the world’s AI talent pool and one of the largest annual STEM supply lines, with 2.25 million graduates.
BUSINESS
Cricket Australia extends ties with HCL Tech to speed up digital transformation
Under this contract, HCL Tech will help CA to offer immersive digital experiences to fans, players and partners globally
BUSINESS
HCLTech seeing highest ever deal pipeline, led by large and long-term deals: CFO Prateek Aggarwal
The $2.1 billion Verizon Business deal is HCLTech's single largest services deal to date, and a milestone for the company, said Anil Ganjoo, chief growth officer, Americas.
BUSINESS
Indian IT firms may face modest impact from Moody’s downgrade of US banks
According to analysts, tech spending has already bottomed out for the IT industry compared to its normal levels, any further worsening in the BFSI vertical will now only have a moderate effect
BUSINESS
IT deal closures face delays as clients seek pre-pandemic pricing, discounts
Discount asks have climbed to 50 percent of new deals but companies are agreeing in 30 percent of the instances, citing cost pressures
BUSINESS
Tech Mahindra appoints former Infosys and CitiusTech executive Atul Soneja as COO
Soneja, a former senior executive at CitiusTech and Infosys, joined the company after another former Infosys president Mohit Joshi joined Tech Mahindra as CEO and MD designate
BUSINESS
Govt mulls extension of 3-4 months to implement laptop, PC import curbs: Sources
The development comes hours after Union Minister of State for Electronics and Information Technology Rajeev Chandrasekhar said "there will be a transition period" with the details coming out soon
BUSINESS
Laptop industry body seeks six months to implement import restrictions
Manufacturers including Dell, HP, Apple, Lenovo and Asus are in deliberation with the industry body MAIT, will be sending representation to the government by August 5.
BUSINESS
Laptop, PC import restrictions will lead to near-term price hikes, industry disruption: Experts
Industry analysts told Moneycontrol that while this was long expected, the suddenness of the move could disrupt the industry
BUSINESS
How Ethereum co-founder Vitalik Buterin’s ‘joke coins’ helped Sandeep Nailwal build a $213-mn initiative
Started by Polygon co-founder Sandeep Nailwal as Crypto Relief Fund in 2021 during COVID times, it was rebranded as Blockchain for Impact on July 30, with Buterin attending the event. BFI will now fund healthcare projects, with a 10-year plan.
BUSINESS
StrideOne in talks to acquire investment platform LetsVenture
StrideOne, an NBFC, sees synergies in getting access to LetsVenture’s network of 18,000 angel and institutional investors to offer more financial solutions to its startup ecosystem, according to sources.
BUSINESS
TCS CEO Krithivasan’s new operating structure gets mixed response from industry experts
According to analysts, former CEO and MD Rajesh Gopinathan’s structure led to unrest among senior executives and confusion among customers. But neither are they sure how the new vertical-wise structure will help TCS navigate the shifting shape of today’s industry.
BUSINESS
TCS reverts to vertical-based operating structure in first major change under new CEO
Moneycontrol had earlier reported that several senior executives were unhappy with the previous group-wise restructuring introduced under former CEO & MD Rajesh Gopinathan in April 2022. New CEO and MD K Krithivasan too kept his BFSI vertical out of that structure
BUSINESS
TCS rejigs senior management positions, appoints new CMO
According to sources in the know, Abhinav Kumar, a TCS veteran who has been with the company for over 21 years, will be taking over the role as the new chief marketing and communications officer for its global markets.
BUSINESS
Tech Mahindra delays senior employee wage hikes amid profit decline
The IT services firm, however, completed majority of its wage hike cycle in Q1, which partly reflected on its EBIT margins that plunged 440 basis points QoQ.
BUSINESS
CoinSwitch in talks with RBI, SEBI to launch financial products, exploring NBFC licence: CEO Ashish Singhal
CoinSwitch plans to launch at least seven financial products, including fixed deposits, mutual funds, bonds, stocks and exchange-traded funds, by the end of this year, said Ashish Singhal, co-founder and CEO of the crypto investment platform.
