Prime Minister Narendra Modi will launch the much-awaited 5G services in India on October 1, 2022, an official release said on Friday. According to the release, 5G to be launched by the Prime Minister in select cities, will progressively cover the entire country over the next couple of years. The cumulative economic impact of 5G on India is estimated to reach $450 billion by 2035. Capable of supporting ultra-high-speed internet services, the fifth generation or 5G is expected to unleash new economic opportunities and societal benefits, serving as a transformational force for Indian society.
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Modi to launch 5G services on Oct 1 (30-09-2022)
Prime Minister Narendra Modi will launch the much-awaited 5G services in India on October 1, 2022, an official release said on Friday. According to the release, 5G to be launched by the Prime Minister in select cities, will progressively cover the entire country over the next couple of years. The cumulative economic impact of 5G on India is estimated to reach $450 billion by 2035. Capable of supporting ultra-high-speed internet services, the fifth generation or 5G is expected to unleash new economic opportunities and societal benefits, serving as a transformational force for Indian society.
Home loans to get dearer with RBI’s rate hike (30-09-2022)
The RBI’s decision to hike repo rate will hit consumers’ buying sentiment, but will have a moderate impact on housing sales in the affordable and mid-income categories, according to industry experts.
Companies may use digital tools to track moonlighters (30-09-2022)
India Inc is not in the dark about moonlighting employees. According to a forensic accountant, companies can easily turn to experts and deploy digital tools that can be used to check if an employee is doing a second job or not – reaffirming fears of many who are wary of the practice in the context of the recent sacking of moonlighters by IT major Wipro. Arpinder Singh, global markets and India leader, forensic and integrity services, EY, said that EY had been involved with several companies to gauge moonlighting.
Highlights of RBI’s monetary policy (30-09-2022)
Benchmark interest rate hiked by 50 basis points to 3-year high at 5.90 per cent. Economic growth projection for FY23 cut to 7% from 7.2% estimated in August. GDP expected to grow at 6.3% in September quarter, 4.6% each in December and March quarters.
Highlights of RBI’s monetary policy (30-09-2022)
Benchmark interest rate hiked by 50 basis points to 3-year high at 5.90 per cent. Economic growth projection for FY23 cut to 7% from 7.2% estimated in August. GDP expected to grow at 6.3% in September quarter, 4.6% each in December and March quarters.
Have the Indian markets rallied too fast, too soon? (30-09-2022)
Indian frontline benchmarks – the S and P BSE Sensex and the Nifty50 – have rallied around 12 per cent each since June-end and outperformed their global peers by a wide margin. On Thursday, the US Fed hiked interest rates by another 75 basis points (bps) – the third such hike this year – and surprised the markets by projecting further sizable hikes in the coming months. With the latest hike, the Fed fund rate (FFR) now stands in the range of 3 – 3.25 per cent and is highest since January 2008.
Have the Indian markets rallied too fast, too soon? (30-09-2022)
Indian frontline benchmarks – the S and P BSE Sensex and the Nifty50 – have rallied around 12 per cent each since June-end and outperformed their global peers by a wide margin. On Thursday, the US Fed hiked interest rates by another 75 basis points (bps) – the third such hike this year – and surprised the markets by projecting further sizable hikes in the coming months. With the latest hike, the Fed fund rate (FFR) now stands in the range of 3 – 3.25 per cent and is highest since January 2008.
IT industry logged 25% attrition in FY22 (30-09-2022)
The Indian IT industry recorded 25.2 per cent employee attrition in FY22 and that pain will continue as it loses talent to other industries, said a report by TeamLease. The attrition in the contract staffing industry is predicted to touch at least 50 per cent in FY23 compared to 49 per cent in FY22, said the report called ‘Brain Drain: Tackling the great talent exodus in IT sector’. Company policies, payment and work flexibility is making talent move, as non-technology firms step up demand. “Tech talent in non-tech companies will see 3X growth in the coming years, opening up approx 1 million new tech jobs by 2025.
IT industry logged 25% attrition in FY22 (30-09-2022)
The Indian IT industry recorded 25.2 per cent employee attrition in FY22 and that pain will continue as it loses talent to other industries, said a report by TeamLease. The attrition in the contract staffing industry is predicted to touch at least 50 per cent in FY23 compared to 49 per cent in FY22, said the report called ‘Brain Drain: Tackling the great talent exodus in IT sector’. Company policies, payment and work flexibility is making talent move, as non-technology firms step up demand. “Tech talent in non-tech companies will see 3X growth in the coming years, opening up approx 1 million new tech jobs by 2025.