Companies & Sectors
N Chandrasekaran is the new Chairman of Tata Sons
Tata Sons Ltd, the holding company of the Tata Group on Thursday appointed Natarajan Chandrasekaran (N Chandrasekaran) as its Chairman, say media reports. 
 
Chandrasekaran is the Chief Executive and Managing Director of Tata Consultancy Services (TCS). Born in 1963, Chandra is one of the youngest CEOs of the Tata Group.
 
On 25 October 2016, he was appointed as Additional Director on the Tata Sons Board. Under his leadership, TCS has generated consolidated revenues of $16.5 billion in 2015-16.
 
In a surprise boardroom coup on 24 October 2016, directors of Tata Sons voted to oust Cyrus Mistry as Chairman of the group holding company. This has resulted in a bitter war between Mr Mistry, whose family is the largest individual stakeholder in Tata Sons and Ratan Tata, the chief of Tata Trusts that holds the majority stake in the group holding company.
 

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COMMENTS

Chandrashekhar M

3 months ago

After Nira Radia Tapes, I lost faith in Tata Group...no different from others.

Onkarnath Adiga

3 months ago

Where is corporate governance? Everything is happening on whims and fancies of Ratan Tata and executed by his yes men so called directors.

India's factory output up at 5.7%, retail inflation falls to 3.41%
India's factory output showed a 5.7% rise in November, the first month of the government's demonetisation drive, even as retail inflation declined to 3.41% in December from 3.63% in the month before, official data showed on Thursday.
 
Factory output, as per the index for industrial production, had declined 1.81% in October. 
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Airtel Payments Bank launches nationwide operations
Airtel Payments Bank on Thursday launched its nationwide operations with an initial investment of Rs 3,000 crore and offering an interest rate of 7.25 per cent for savings accounts.
 
The bank was launched by Finance Minister Arun Jaitley in New Delhi.
 
Leveraging Airtel's existing user base of 260 million customers, the Payments Bank will have re the phone number itself as the account number, Bharti Enterprises Chairman Sunil Bharti Mittal said at the launch. 
 
It is offering an interest rate of 7.25 per cent per annum on deposits in savings accounts.
 
"Airtel Payments Bank commits an initial investment of Rs 3,000 crore to develop a pan India banking network and digital payments ecosystem," a company statement said. 
 
The Reserve Bank of India had given payments bank licenses to 11 companies out of which 4-5 are telecom firms. 
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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