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    Snapdeal Founders Write Email to Employees, Justify Firing as "Part of Growth"

    BW Businessworld first reported two weeks ago that the Snapdeal management had decided to cut down its salary costs. The decision was taken on the same day when Alibaba decided to put in fresh funds into PayTM. Incidentally, Alibaba's primary investor Softbank also has an investment in Snapdeal. The Snapdeal management had earlier refused to comment on the talk...

    • 5 hrs ago
  • News

    Snapdeal founders write an email letter to its employees; justifies firing as a part of growth

    BW Businessworld had first reported two weeks ago that the Snapdeal management had decided to cut down its salary costs. The decision was taken on the same day when Alibaba decided to put in fresh funds into PayTM. Incidentally, Alibaba's primary investor Softbank also has an investment in Snapdeal. Even when talks about PayTM buying out Snapdeal...

    • 7 hrs ago
  • News

    India's GDP Projected To Slow To 6.6 Per Cent Post-demonetisation, Predicts IMF

    India's growth is projected to slow to 6.6 per cent in 2016-17 fiscal due to the strains that have emerged in the economy as a result of "temporary disruptions" caused by demonetisation, the IMF said on Wednesday (February 22).In its annual report, however, the International Monetary Fund (IMF) said demonetisation would have only short term impact on...

    • 9 hrs ago
  • News

    SIDBI Signs MoU With Vijaya Bank

    Small Industries Development Bank of India (SIDBI) today signed a Memorandum of Understanding (MoU) with Vijaya Bank for providing concessional finance to Micro and Small Enterprises (MSEs). The theme of the MoU is "MSME Credit at Corporate Rates".The MoU is aimed at promoting and strengthening the Units in the micro and small industry segment through concessional funding i.e. at MCLR of Vijaya Bank...

    • 9 hrs ago
  • News

    India Banking Bailout Cost 'Manageable', Says IMF

    The cost of recapitalising India's struggling banks would be affordable even under a negative scenario, the International Monetary Fund said on Wednesday (February 22), urging government steps to strengthen the financial system.Weighing into a renewed debate on tackling India's $130 billion in stressed loans, the IMF said "recapitalisation costs should be manageable" at...

    • 9 hrs ago
  • News

    ABVP, AISA Clash At Delhi College Over Invite To JNU Students

    Violent clashes broke out between Left-affiliated AISA and RSS-backed ABVP at DU's Ramjas college today over a seminar invite to JNU students Omar Khalid and Shehla Rashid which left "several students and three teachers injured".Police said around 40 students have been detained to prevent any further escalation and the situation in "under control now".The...

    • 10 hrs ago
  • News

    Economy To Pick Up In Q4 Due To Faster Remonetisation: Patel

    Faster remonetisation and return of discretionary consumer demand will push economic activity in the latter part the fiscal, opined RBI Governor Urjit Patel while voting for no cut in interest rate earlier this month.Patel, during the two-day Monetary Policy Committee meeting on February 7-8, also said that shifting monetary policy stance from accommodative to neutral will provide...

    • 10 hrs ago
  • News

    GIFT-IFSC Transactions Cross $2 Billion; Hub To Create 1 Million Jobs By 2025

    Business transactions at Gujarat International Finance Tec-City (GIFT), country's first International Financial Services Centre, has crossed USD 2 billion mark and is likely to grow manifold in the near term.The GIFT IFSC, which has currently generated 5,000 jobs, is expected to generate one million more employment opportunities by 2025. It is likely to create at...

    • 11 hrs ago
  • News

    RBI Rate Panel Unanimously Agrees To Focus On 4 Per Cent Inflation Target

    The Reserve Bank of India's six-member monetary policy committee cited concerns about inflation in holding rates in February, with three of them specifying the need to shift the policy stance to "neutral" from "accommodative," according to minutes from the meeting.The minutes were released on Wednesday after the RBI voted 6-0 to hold the repo rate...

    • 11 hrs ago
  • News

    No One Should Be Denied Medicine, Says Cipla Chairman

    Yusuf K Hamied, chairman of Cipla, has offered free knowhow for making the essential drugs in the public sector.Speaking at the Diamond Jubilee Foundation Day ceremony of All India Management Association (AIMA), which is also observed as the National Management Day, Hamied said that healthcare was a different business and it required different rules which prioritized human lives more than the...

    • 11 hrs ago

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