Private banking company Kotak Mahindra Bank recently announced that the group’s leadership team has unanimously and voluntarily opted to take a 15% cut in compensation for the financial year 2020-21. The Managing Director of the bank, Uday Kotak has personally opted to forgo his salary, and will receive Re 1/- as compensation. The bank in…
The coronavirus pandemic has hit the global economy worse than the 2008 financial crisis. Industry experts predict that the impact of the pandemic will last longer than a year. Some industry bodies are also estimating that the pandemic would cost upto 2.5mn jobs globally. Worst-hit among all sectors of the economy, is the small scale…
Global provider of boiler efficiency solutions Clyde Industries recently announced it has established a new office, Clyde Industries India Private Limited, located in Balewadi, Pune, India. This new location serves India’s growing pulp & paper boiler cleaning needs, ranging from new soot blower and air port cleaner equipment, Fitness-to-Operate (FTO) inspections, repair/rebuild, aftermarket spares to…
Online marketplace Flipkart recently announced a partnership with Uber to provide people across Bangalore, Mumbai, and Delhi access to everyday essentials, amidst the ongoing national lockdown. This partnership will keep vital supply chains running and will address the growing needs of Flipkart customers to receive essential goods at their doorsteps every day. It will also…
The novel coronavirus which originated from China has now started to engulf India. So far, the virus has claimed more than 80 lives in India and infected more than 3,000 people. The COVID-19 pandemic presents an unprecedented challenge to the nation. This crisis calls for an even stronger and concerted action from corporate citizens to…
India’s largest FMCG company Hindustan Unilever Limited (HUL), recently announced that it has successfully completed the merger of GlaxoSmithKline Consumer Healthcare Limited (GSKCH) with HUL. This merger was first announced in December 2018 and was subject to obtaining necessary approvals. It is being said that the acquisition is one of the largest deals in the…
As the world battles with the coronavirus pandemic, several business leaders and organizations have come in support of the governments to help them combat the deadly virus effectively. Companies across the globe have pledged funds to government relief funds and are contributing in whichever manner possible for a faster containment of the virus. Extending support…
Wipro, Wipro Enterprises and Azim Premji Foundation have together committed Rs 1,125 crore towards supporting the fight against the novel coronavirus pandemic. The pandemic and the concern related to the extent of damage it can cause had brought in a good degree of participation form major corporations, philanthropists, and business leaders to support the fight…
The Coronavirus pandemic has seen the world almost coming to a standstill. The pandemic has seen corporations and business leaders committing sizable amounts towards supporting the impacted people, communities as well as funding government initiatives towards fighting the pandemic as well implementing preventive measures. Indiabulls Group, a diversified financial services group, has announced a commitment…
Indian tech giant Infosys recently announced that it has sacked one of its employees who wrote an “inappropriate post” on Twitter about the coronavirus pandemic. Announcing the termination of the employee’s services through Twitter, Infosys said, “Infosys has completed its investigation on the social media post by one of its employees, and we believe that…
India’s leading technology, engineering, construction, manufacturing, and financial services conglomerate Larsen & Toubro, recently announced that it is committed to participating in corporate India’s response to COVID-19 through funds, community welfare plans and through leveraging its expertise to offer assistance. Responding to the call given by Hon’ble Prime Minister of India, the company will donate…
Kotak Mahindra Bank has announced a commitment of Rs. 35 Cr., to support the central and state government in their fight against Covid-19. Apart from this Uday Kotak, has offered his personal commitment of Rs. 25 Cr. to the PM CARES fund. The funds will be directed at supporting the governments initiative towards preventive, curative,…
IT services giant Cognizant recently said that it has signed an agreement to acquire digital marketing consultancy firm Lev. However, the financial details of the transaction have been kept undisclosed yet. According to a statement by Cognizant, “Lev helps businesses simplify and modernize their marketing campaigns using Salesforce Marketing Cloud to provide data-driven insight and…
Tata Sons recently announced that it will ensure full payments to temporary workers and daily wage earners for the month of March and April in view of the coronavirus pandemic. Tata’s temporary workers across offices and production sites in India will be eligible for the payment even if they fail to report to work due…
After one of its employees tested positive for the novel coronavirus, IT major HCL Technologies have assured its other employees about their safety. According to a report by MoneyControl, the Noida-based company issued a circular to its employees informing about the happenings inside the company. As per the circular, which was accessed by MoneyControl, the…