The company's founder and chief mentor has said its social media policy aims to provide helpful, practical advice to utilise electronic communication devices in a legal, ethical, and appropriate manner
NR Narayana Murthy, the chief mentor of Infosys Technologies Ltd, has said that the company does not intend to monitor or otherwise act on what its employees may do as private citizens delinked from the company.
Replying to a query by our columnist Dr Samir Kelekar, the Infosys chief mentor said, "Our policy, while encouraging usage of social media, reinforces some guidelines which protect employee and organisation by reinforcing client and company confidentiality, intellectual property and code of conduct."
There were reports that Infosys, the second largest IT company in India, was planning to implement a social media policy for its employees from August. The report said from August whatever an employee of Infosys posts on social media networks like Facebook, Orkut or micro-blogging site Twitter will be under the company's watch.
Mr Murthy said that the company feels that such activities will be governed by larger societal mechanisms that are in place or will happen in the future. "Infosys considers its social media policy as an extension of its policies that cover other means of communication or media. Formal polices drive effective practices and we have designed our policy to do just that," Mr Murthy said in an email.
There were apprehensions that if put under curbs or watch, employees may start blogging anonymously. Allaying apprehensions about policing the usage of social media by Infosys employees, Mr Murthy said nobody has said that the company will police such networks. "Please go not by what appears in newspapers but what you ascertain from the leaders of the company," he said.
According to a draft policy about social media networking prepared by Infosys, its guidelines only aim to provide helpful, practical advice to utilise electronic communication devices in a legal, ethical, and appropriate manner while wearing the Infosys badge. "This policy does not cover postings that you (the employee) may do as a private individual as long as you do not associate Infosys in any way with your personal identity or refrain from commenting about Infosys," the guidelines said.
The volatility index indicates the investor's perception of the market's volatility over the next 30 calendar days i.e. higher the India VIX values, higher the expected volatility and vice-versa.
National Stock Exchange (NSE) today announced the launch of India VIX, a volatility index being disseminated on a real-time basis for the first time, reports PTI.
India VIX is based on the index option prices of NSE's benchmark index — Nifty.
India VIX is computed using the best bid and ask quotes of the out-of-the-money near and mid-month Nifty option contracts, which are traded on the F&O segment of NSE, the exchange said in a statement in Mumbai.
The volatility index called the India VIX indicates the investor's perception of the market's volatility in the near term. It depicts the expected market volatility over the next 30 calendar days i.e. higher the India VIX values, higher the expected volatility and vice-versa.
So far, the volatility index, which is expressed in a percentage figure, was shown at the end of the day. But now it will be displayed on a real time basis, the NSE release said.
"Once India VIX is available for trading after regulatory approvals, it will give a lot of security to investors and traders, who face uncertainty, because the new product will empower them with better information and foresight. More importantly, it will give them the ability, to use the product to hedge their portfolios against the risk arising out of volatility," NSE's managing director & CEO, Ravi Narain said.
NSE will be applying to the Securities and Exchange Board of India (SEBI) for permission to start derivatives on the index, after it has been tracked for a suitable period. Once the futures and options start on the index, investors whose portfolios are affected by volatility in the market can use the product to hedge their risks.
In the last few years, markets around the world have seen a higher volatility. India is no exception and it has also witnessed higher volatility.
Commerce secretary Rahul Khullar said it is too early to celebrate as exports have still not reached the level of the pre-global economic crisis period.
India's exports grew by a healthy 30.4% in June to $17.75 billion, reports PTI.
In June 2009, exports had shrunk by 27.7% to $12.81 billion under the impact of global slowdown, commerce secretary Rahul Khullar said in New Delhi today
Imports increased by 23% to $28.3 billion in June this year and the trade deficit for the month was $10.55 billion.
"It is good news but still not great news," Mr Khullar told reporters, adding that the exports have still not reached the level of the pre-global economic crisis period.
In June 2008, the country's exports were $19.2 billion.
In the first quarter ended June this fiscal, exports stood at $50.8 billion showing a growth of 32.2% over the year ago period.
Imports during the period grew by 34% to $83 billion leaving the country with the trade deficit of $32.2 billion.
The global economy slipped into major crisis from September-October 2008, impacting India's exports particularly to the developed markets.
While the exports have recovered following turnaround in the global economy, they are still below the level of 2007-08 and first half of the fiscal 2008-09.