Banking services hit as employees of public sector banks go on strike

Normal banking operations have been hit as public sector bank employees went on a one-day nationwide strike on Tuesday to protest against the government’s proposed consolidation move, besides raising other demands. Services like deposits and withdrawal at bank branches, cheque clearance, NEFT and RTGS transactions are affected. However, operations at private…

Infosys yet to start search for next CEO

A little over 72 hours after Vishal Sikka quit as chief executive officer (CEO) of Infosys Ltd, India’s second largest software services firm is yet to officially start the process of finding a successor, amid a broader tussle between the company’s board and its founders that has spooked investors and…

Markets extend losses, Infosys pulls down Sensex

The benchmark Sensex gave up early gains to end 266 points lower on Monday while the Nifty cracked below the 9,800 mark, pulled down by heavyweight Infosys and other blue-chips amid a lower opening in Europe. The IT sector faced the backlash following Vishal Sikka’s surprise resignation as Infosys CEO….

Moody’s Downgrades ICICI’s MTN Notes Raised Via Bahrain Branch

  Mumbai: Moody’s has downgraded ratings on forex debt of ICICI Bank raised through its Bahrain branch under the medium term notes programme even as it retained the ratings on the bank’s foreign currency senior unsecured debt. “We’ve downgraded the provisional ratings on the foreign currency senior unsecured MTN programme…