E-commerce company Amazon plans to lay off around 1,000 employees in India as part of its biggest retrenchment exercise across the globe, according to sources. The company has announced the elimination of over 18,000 roles across the globe due to uncertain economic conditions. “The decision to eliminate 18,000 job roles across the globe will impact about 1,000 employees in India,” the source said.
Posts tagged Rediff
India’s GDP estimated to grow at 7% in 2022-23 (06-01-2023)
The Indian economy is estimated to grow at 7 per cent in the 2022-23 fiscal, down from 8.7 per cent a year ago, mainly due poor performance of mining and manufacturing sectors. As per the first advance estimates of national income released by the National Statistical Office (NSO) on Friday, the manufacturing sector output is estimated to decelerate to 1.6 per cent in the current fiscal from 9.9 per cent in 2021-22. Similarly, mining sector growth is estimated at 2.4 per cent in the current fiscal as against 11.5 per cent in 2021-22.
Sensex sinks 453 points; ends below 60k (06-01-2023)
Equity benchmarks pared initial gains to end lower on Friday, recording their third day of decline, amid weak trend in IT counters. The 30-share BSE Sensex tumbled 452.90 points or 0.75 per cent to settle at 59,900.37. During the day, it tanked 683.36 points or 1.13 per cent to 59,669.91.
Now, no need to visit bank to update KYC (06-01-2023)
Bank account holders are no longer required to visit their bank branches to update ‘know your customer’ (KYC) details provided they have already submitted valid documents and not changed their address, the RBI has said. Instead, if there is no change in KYC information, they can submit a self-declaration through email-id, registered mobile number, ATMs, or any other digital channels. Following up on Reserve Bank Governor Shaktikanta Das stating that banks should not insist on branch visits for KYC updation, the central bank on Thursday issued guidelines for the same.
Rupee trade: Govt, RBI in talks with S-Asian nations (06-01-2023)
RBI Governor Shaktikanta Das on Friday said the government and the central bank are in discussion with South Asian countries to have cross-border trade in rupee. He also said the central bank digital currency (CBDC) is in trial phase and the RBI is moving very carefully and cautiously on digital rupee launch. After the successful launch of the wholesale pilot, the Reserve Bank of India (RBI) on December 1, last year, began its retail CBDC pilot project.
Electric two-wheeler sales zoom past 550K this year (06-01-2023)
Electric two-wheelers have zipped past the half-a-million registration mark and achieved a market penetration of 4 per cent at the fag end of Calendar 2022, according to data released by VAHAN. According to VAHAN data for the year (until December 27), 560,000 two-wheelers were registered in the country, up a staggering fourfold over 2021, when only 136,000 were registered, and when electric vehicle penetration was a mere 1.05 per cent. The total number of two-wheelers (internal combustion engine, or ICE, and electric) registered so far in 2022 stands at 14.5 million, up only 12.7 per cent over the previous calendar year.
‘Do 81 crore Indians deserve subsidised food grains?’ (06-01-2023)
‘The decision to supply free food grains is not an economically sound decision because the government will find it very difficult in future to charge anything for food grains.’
‘Do 81 crore Indians deserve subsidised food grains?’ (06-01-2023)
‘The decision to supply free food grains is not an economically sound decision because the government will find it very difficult in future to charge anything for food grains.’
‘Expect moderate returns from markets’ (06-01-2023)
‘Given the worries about sluggish growth, rising interest rates and likely volatility, it’s quite logical to infer that the SIP route could be the preferred way of investing.’
‘Expect moderate returns from markets’ (06-01-2023)
‘Given the worries about sluggish growth, rising interest rates and likely volatility, it’s quite logical to infer that the SIP route could be the preferred way of investing.’