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Work-life balance is the buzzword these days and ample studies have shown how GenZ prefers a job which is flexible in terms of timings. In January this year, a study conducted by Randstad revealed that workers prioritise work-life balance over salary when evaluating potential job opportunities. According to the study, 57 percent of employees would reject a job offer if it negatively impacted their work-life balance. However, even though employees want greater work-life balance, there have been billionaires who disagree with the concept and promote hustle culture instead. From advocating for longer work hours to dismissing the idea of balance altogether, these tech leaders have taken stances that have often stirred the hornet's nest. <h2><keyword id="20068610" type="General" weightage="100" keywordseo="NR-Narayana-Murthy" source="keywords">NR Narayana Murthy</keyword>: Advocating 70-Hour work weeks</h2><keyword id="19906778" type="General" weightage="20" keywordseo="Infosys" source="keywords" meta.keywordsubtype="org" meta.entityname="Infosys" meta.hostid="261" meta.entityid="Infosys">Infosys</keyword> founder NR <keyword id="19920910" type="General" weightage="20" keywordseo="narayana-murthy" source="keywords">Narayana Murthy</keyword> made headlines in October 2023 when he suggested that young people in India should be prepared to work 70 hours a week. Speaking on 3one4 Capital's podcast "The Record," Murthy argued that such an intense work ethic is necessary for India to improve its productivity and compete on the global stage. His remarks sparked a wide-ranging debate online, with some agreeing that increased effort is required to drive progress, while others criticised him for promoting an unsustainable work culture. <h2><keyword id="21042158" type="General" weightage="20" keywordseo="Alexis-Ohanian" source="keywords">Alexis Ohanian</keyword>: Dismissing work-life balance as a farce</h2>Reddit co-founder Alexis Ohanian also shared his views on work-life balance, which he dismisses as an unrealistic ideal. In an August 2023 Twitter thread, Ohanian said that work-life balance is a "farce" and that trying to achieve it is misguided. Instead, he emphasised the importance of knowing when to prioritise work and when to focus on personal life, suggesting that balance is more about shifting priorities rather than achieving a perfect equilibrium. <h2><keyword id="20054707" type="General" weightage="20" keywordseo="Jeff-Bezos" source="keywords">Jeff Bezos</keyword>: Rejecting the trade-off</h2>Amazon founder Jeff Bezos has long been a critic of the term "work-life balance." Speaking at an event in 2018, Bezos explained that he finds the concept debilitating because it implies a trade-off between work and life. He said that he prefers to view it as a "circle" where both aspects are interconnected. In earlier interviews, Bezos had mentioned that his happiness at work positively influences his personal life, and vice versa, suggesting that the two are more intertwined than balanced. <h2> <keyword id="19903807" type="General" weightage="20" keywordseo="Elon-Musk" source="keywords">Elon Musk</keyword>: Sleeping in offices</h2>Elon Musk, known for his demanding work ethic, has also been vocal about his approach to work-life balance—or the lack thereof. During the 29th Annual Baron Investment Conference in 2022, Musk revealed that he used to live in his factories and would sleep on the floor to show his commitment to his work. He believed that demonstrating his dedication in such a visible way would inspire his employees to work harder. Musk has also been critical of what he perceives as a declining work ethic in America, contrasting it with the intense dedication he observes among workers in China. <h2><keyword id="19915280" type="General" weightage="20" keywordseo="Jack-Ma" source="keywords">Jack Ma</keyword>: Endorsing China's "996" work culture</h2>Alibaba co-founder Jack Ma had expressed support for China's controversial "996" work schedule, which involves working from 9 a.m. to 9 p.m., six days a week. In 2019, Ma referred to the "996" culture as a "huge blessing" for young workers, arguing that the opportunity to work such hours is something to be grateful for, especially if one is passionate about their job. He downplayed concerns about overwork, suggesting that those who love their work won't find such hours burdensome.

70-hour work week to sleeping in offices: Golden words on hustle culture from NR Narayana Murthy, Elon Musk, and other billionaires

New Delhi, India has probably seen its youngest millionaire in Ekagrah <keyword id="20076454" type="General" weightage="20" keywordseo="rohan-murty" source="keywords">Rohan Murty</keyword> - the four-month-old grandson of Infosys founder N.R. <keyword id="19920910" type="General" weightage="20" keywordseo="narayana-murthy" source="keywords">Narayana Murthy</keyword>. According to a regulatory filing, <keyword id="20482766" type="General" weightage="20" keywordseo="narayana" source="keywords">Narayana</keyword> Murthy has gifted shares worth more than Rs 240 crore to his grandson. <keyword id="21000975" type="General" weightage="20" keywordseo="ekagrah-murty" source="keywords">Ekagrah Murty</keyword> received 15 lakh shares, or 0.04 per cent stake, in Infosys. The 77-year-old Infosys founder gifted shares to his grandson in an off-market transaction. With this, Narayana Murthy's holding in the IT bellwether fell to 0.36 per cent, or more than 1.51 crore shares. At the price of Rs 1,620 per share on Monday, Ekagrah Murty received a whopping Rs 243 crore. Narayana Murthy and his wife and now <keyword id="19967755" type="General" weightage="20" keywordseo="rajya-sabha-mp" source="keywords">Rajya Sabha MP</keyword> <keyword id="20077886" type="General" weightage="20" keywordseo="sudha-murty" source="keywords">Sudha Murty</keyword> became grandparents in November last year after their son Rohan Murty and wife Aparna Krishnan welcomed a baby boy. Engineer-turned-philanthropist and author Sudha Murty took oath as Rajya Sabha MP last week in the presence of her husband.

Born with a golden spoon: 4-month-old old Ekagrah Murty now owns ₹240 crore Infosys stock

Infosys founder <keyword id="51793" type="General" weightage="20" keywordseo="nr-narayana-murthy" source="Orion">NR Narayana Murthy</keyword> on Wednesday called out the need for spending $1 billion annually to train teachers in science, technology, engineering and mathematics (STEM) to foster a better education in India. Murthy stressed the need to create 2,500 institutions to train primary and <keyword id="1851633" type="General" weightage="20" keywordseo="secondary-school-teachers" source="Orion">secondary school teachers</keyword> by spending $20 billion over the next two decades. For this, he suggested inviting 10,000 retired highly accomplished teachers from over the globe and India. "One possible way of accelerating NEP's outcome is to invite 10,000 retired highly accomplished teachers from the developed worlds and from India in science, technology, engineering and mathematics (STEM) to create 2,500 'train the teacher' colleges across India", the billionaire businessman said, at the Infosys Prize ceremony, hosted by the Infosys Science Foundation (ISF) in Bengaluru. "We will be able to train 250,000 <keyword id="83234" type="General" weightage="20" keywordseo="primary-school-teachers" source="Orion">primary school teachers</keyword> and 250,000 secondary school teachers every year by this method. These trained Indian teachers can themselves become trainers over a period of 5 years. "We should pay about $100,000 a year," he said, while also stressing the need for providing better facilities and pay to teachers. Further, Murthy said India is still in stage 1 "in some important areas like design of livable cities, pollution management, traffic management,and providing clean and safe water". India must aspire for stage 4 in innovation and invention, where it becomes an inventor of new processes, products, and services, he noted. Awarding the Infosys Prize 2023 to six individuals for their remarkable contributions to scientific research in India, he said, "Learnability, creativity and innovation are the ways to navigate our fast-changing world. We must be daringly inventive to tackle the daunting and persistent problems of today". The awards were in six categories -- Engineering and Computer Science, Humanities, Life Sciences, Mathematical Sciences, Physical Sciences, and Social Sciences. The prize for each category comprises a gold medal, a citation, and a prize purse of $100,000 (or its equivalent in INR).

Spending $1 bn annually can help train STEM teachers in India: Narayana Murthy

New Delhi, Youths should learn to balance hard work with a healthy diet, proper sleep and timely exercise, doctors said while cautioning that overwork is leading to early onset of lifestyle diseases. Some medical experts also said that a 70-hour-week regimen would be "far too ambitious," and urged team leaders at workplaces to divide work in an optimised manner among members and "not try to extract too much work from an individual", which often leads to physical or psychological burnout. Their comments come in the wake of Infosys co-founder <keyword id="6448574" type="General" weightage="20" keywordseo="n-r-narayana-murthy" source="Orion">N R Narayana Murthy</keyword> recently suggesting that young people should work <keyword id="19286531" type="General" weightage="20" keywordseo="70-hours-a-week" source="Orion">70 hours a week</keyword> to boost the country's productivity. Murthy's remarks were criticised on social media for allegedly promoting an 'overwork culture' by some, and praised by several others. Doctors in Delhi warned that overwork was leading to early onset of lifestyle diseases like diabetes and cervical spondylitis. Smoking, drinking and consumption of junk food at work or home are also adversely affecting their health, and compounding their health issues, they said. Dr Suranjit Chatterjee, senior consultant, internal medicine at Apollo Hospital in Delhi said, "Hard work doesn't mean you neglect or compromise your health. Hard work is fine, but a person should take care of one's health too while following their ambition. "So, it has to be balanced with a healthy diet, healthy lifestyle, proper sleep and timely exercise," he told PTI. The 70-hour-week regimen would be "far too ambitious, I feel, and 60 hours per week with a balanced and optimised lifestyle" should be the way forward, the doctor said. "Many people work hard and then resort to eating junk food or smoking at regular intervals, of course, having this myth that it is helping them de-stress, but it's not, it's only making their health even worse," Chatterjee said. Some resort to regular drinking and frequent parties, driven at times by the idea that 'I can afford it, so I will do it'. This attitude has to change if a person has to grow professionally without compromising one's health, he cautioned. Doctors at other government and private hospitals also warned about the consumption of junk food, at times for "snob value" at the workplace, which in turn leads to a "wrong ripple effect". Recreation is important, but it should be done after putting in hard work on working days, for both personal and professional growth in any organisation, the medical experts underlined. A senior doctor at Sir Ganga Ram Hospital said the OPD of internal medicine there is seeing a "paradigm shift" in the nature of patients visiting it. "We are seeing now more younger people than the elderly population who are coming to us with early onset of lifestyle diseases like diabetes. They are glued to their computer screens or mobile phones all the time, so they complain of pain in the eyes, neck pain, backache and many other issues," the doctor said. Consumption of junk food, lack of proper sleep, negligible or no exercise, coupled with the sedentary lifestyle at work, is making matters worse, he added. The senior doctor advised youths to balance ambition with a healthy diet and lifestyle, and not give in to any pressure from peers or otherwise. There have been many cases of physical or mental burnout and overwork is a major cause for that, he added. Ambition is good for work, good for the country, and a person can work for even 10 hours or so per day "while ensuring health is not compromised," Chatterjee said. In a conversation with former Infosys CFO Mohandas Pai in the inaugural episode of 3one4 Capital's podcast 'The Record,' Murthy had said that youngsters should put extra hours at work to compete with leading economies. "India's work productivity is one of the lowest in the world. Unless we improve our work productivity...we will not be able to compete with those countries that have made tremendous progress," he said, comparing India with China, Japan and Germany. "So, therefore, I request that our youngsters must say, 'This is my country. I'd like to work 70 hours a week," he added. Murthy's remarks have drawn mixed reactions on social media. Comedian and actor Vir Das wrote on X, "Life's hard. You meet a girl, fall in love, get married. Her dad wants you to work 70 hours a week. You can't work that hard, you just wanna chill and run England." Another user on X said "overwork" gave him stress and health complications. Bhavish Aggarwal, CEO, <keyword id="6362049" type="General" weightage="80" keywordseo="ola-cabs" source="Orion">Ola Cabs</keyword>, also posted, saying, "Totally agree with Mr Murthy's views. It's not our moment to work less and entertain ourselves. Rather it's our moment to go all in and build in one generation what other countries have built over many generations!"

A 70-hour-week regimen 'far too ambitious' say medical experts

<keyword id="637412" type="General" weightage="20" keywordseo="infosys-founder" source="Orion">Infosys founder</keyword> <keyword id="6355623" type="General" weightage="20" keywordseo="narayana-murthy" source="Orion">Narayana Murthy</keyword>'s advice to youngsters in India, urging them to work 70 hours a week, has sparked sharp reactions from founders and leaders who said that while extended working hours can boost productivity, a balanced approach is equally necessary. During a podcast, Murthy had said that if India wants to compete with developed economies that have made remarkable progress in recent decades, youngsters should work for 70 hours a week. Reacting to Murthy's comment, <keyword id="1353462" type="General" weightage="50" keywordseo="abhishek-desai" source="Orion">Abhishek Desai</keyword>, founder of CricHeroes, told that while extended working hours can boost productivity in certain contexts, "it's equally vital to focus on work-life balance, employee well-being, and harnessing technology to enhance efficiency". "The success of countries like Japan and Germany is undoubtedly commendable, but we must also acknowledge that their work culture may not be entirely replicable in the Indian context," Desai added. Former BharatPe Co-founder <keyword id="2988161" type="General" weightage="50" keywordseo="ashneer-grover" source="Orion">Ashneer Grover</keyword> said that the public got offended at Murthy's comment as the measure of work done still gets notified based on hours spent rather than the outcome. "I think junta (public) got offended here because work is still being measured in 'hours' rather than 'outcome'. The other thing is people feeling as if youngster's laziness is the only thing keeping India from becoming developed," he posted on X on Friday. Ola CEO <keyword id="1543567" type="General" weightage="50" keywordseo="bhavish-aggarwal" source="Orion">Bhavish Aggarwal</keyword>, however, agreed with Murthy's view. "Totally agree with Murthy's views. It's not our moment to work less and entertain ourselves. Rather it's our moment to go all in and build in 1 generation what other countries have built over many generations," he posted on X. According to Shrijay Sheth, founder of Legalwiz.in, working long hours does not necessarily translate into better work, bigger outcomes and higher returns for the company. "Primarily, it is about enhanced productivity and achieving the organisational goals. Especially for workforces in the Indian context, longer working hours may result in lower efficiency and, thus, impede the realisation of business objectives," he added.

Murthy's 70-hr-a-week work call to youth trigger sharp reactions from founders

<ul><li><keyword id="1806167" type="General" weightage="100" keywordseo="murty" source="Orion">Murty</keyword> has a reported £<a href="https://www.bbc.com/news/uk-politics-61055789">700</a> million pounds stake in her father’s company, Infosys. </li><li>She has a networth of around $1.3 billion, according to Bloomberg. </li><li>Apart from being a fashion designer, she is the director of Digme Fitness and owns shares in Wendy’s India and Jamie Oliver restaurants. </li><li>Murty was surrounded by controversies over evading tax on foreign income from India. </li></ul>Akshata Narayana Murty was born in 1980 to a young ambitious computer engineer and a computer scientist who were finding their foot in the yet-to-evolve software market of the country. While most of her young age was spent with her paternal grandparents, it did not stop her parents — N R <keyword id="6355623" type="General" weightage="50" keywordseo="narayana-murthy" source="Orion">Narayana Murthy</keyword> and Sudha Murthy – from drawing the line in terms of parenting her and her brother both. Hence, Akshata and Rohan were one of those rare 80-born children who lived without TV and spent their time in better pursuits like reading and spending time with real people instead of TV characters. Now, even as she holds the distinction of being UK’s first Indian first lady, billionaire Akshata Murty is known for much more than that. She is a fashion designer, venture capitalist and entrepreneur. The latest title however came with its own pressures. Murty, born in India and non-domiciled in the UK, came under the spotlight after her husband <keyword id="221875" type="General" weightage="20" keywordseo="rishi-sunak" source="Orion">Rishi Sunak</keyword>, now the PM of UK, began his campaign. Murty comes from a family of wealth and reportedly has a £<a href="https://www.bbc.com/news/uk-politics-61055789">700</a> million pound stake in Infosys, a company her parents founded along with others. Rishi Sunak and Akshata Murty’s combined net worth is £730 million, which is reportedly more than the head of the British monarchy <a href="https://www.businessinsider.in/international/news/rishi-sunak-akshata-murtys-combined-fortune-is-2x-that-of-king-charles-iii/articleshow/95074007.cms">King Charles III</a>. Murty’s networth is $1.3 billion, according to <a href="https://www.bloomberg.com/news/articles/2022-05-30/rishi-sunak-s-wife-akshata-murty-builds-catamaran-ventures-ties-to-rich-families">Bloomberg</a>, largely due to a 0.91% stake in her father’s company Murty is one of Britain’s wealthiest businesswomen. They met at Stanford Born in Hubli in Karnataka, the daughter of N R Narayana Murthy, considered ‘father of the Indian IT sector’ and <keyword id="6355854" type="General" weightage="50" keywordseo="sudha-murty" source="Orion">Sudha Murty</keyword>, an acclaimed philanthropist and writer. Narayana Murthy is one of India’s wealthiest businessmen with a fortune of <a href="https://en.wikipedia.org/wiki/N._R._Narayana_Murthy#:~:text=As%20of%20October%202022%2C%20his,the%20world%20according%20to%20Forbes.&amp;text=Murthy%20was%20born%20and%20raised%20in%20Shidlaghatta%2C%20Karnataka.">$4.5 billion</a>. Sudha Murty is a Padma Shri awardee, considered India’s fourth highest civilian honour, and also heads Infosys’ non-profit arm Infosys Foundation. Akshata Murty attended high school in Bangalore and studied at Fashion Institute of Design &amp; Merchandising, Los Angeles. She also has a Masters degree in business administration from Stanford University. This is where she met Sunak and got married to him in Bangalore in 2009. The couple have two daughters Anoushka and Krishna. “When I met him we were 24 year old business school students, living in another country, and had no idea of where life would take us,” she tweeted in<a href="https://twitter.com/anmurty/status/1512711676709191680?t=Fbkv_a5GZg-EgAEhOtFDNQ&amp;s=08"> April</a>. ‘India remains the country of my birth, but I love UK too’ The shadow of her father’s company Infosys became heavier on her when it was reported earlier this year that the Indian IT company was still operating in Russia during the Ukraine war, despite counter claims by the company. Akshata Murty denied having any stake in the operations of the company, clarifying her position with Sky <a href="https://news.sky.com/story/rishi-sunak-calls-for-explanation-over-chancellors-wife-stake-in-company-operating-in-russia-12604359">News</a>. Another controversy which clouded the Sunak campaign was her status as a non-domiciled resident in the UK, which BBC reported gave her a way to evade £2.2 million in UK <a href="https://www.bbc.com/news/uk-politics-61055789">taxes</a>. A non-domiciled is a resident citizen who has her permanent home in another country, in this case, India. “My decision to pay UK tax on all my worldwide income will not change the fact that India remains the country of my birth, citizenship, parents’ home and place of domicile. But I love the UK too,” Murty tweeted in <a href="https://twitter.com/anmurty/status/1512711676709191680?t=Fbkv_a5GZg-EgAEhOtFDNQ&amp;s=08">April</a>. As the law states, Murty as a non-domiciled citizen in the UK is not required to pay taxes on her overseas earnings, which came to £11.6 million she got as a <a href="https://www.bbc.com/news/uk-politics-61055789">dividend</a> from her father’s company last year. Post an inquiry, Akshata agreed to pay her due taxes. She additionally pays £30,000 per year to maintain her non-domiciled <a href="https://www.bbc.com/news/uk-politics-61045825">status</a>, BBC reported. “It has become clear that many do not feel it is compatible with my husband's role as chancellor. I understand and appreciate the British sense of fairness and I do not wish my tax status to be a distraction for my husband or to affect my family,” she <a href="https://www.bbc.com/news/uk-politics-61045825">said.</a> Murty had previously started her own design label called Akshata Designs, which closed down in 2012. The next year, she became director of the family-owned venture capital firm called <a href="https://www.bloomberg.com/news/articles/2022-05-30/rishi-sunak-s-wife-akshata-murty-builds-catamaran-ventures-ties-to-rich-families">Catamaran Ventures</a>, which invested in British luxury furniture The New Craftsmen and Elon Musk’s Space Exploration Technology Corporation. She is also director at London-based Digme Fitness which is currently valued at £<a href="https://pomanda.com/company/09631514/digme-fitness-limited#:~:text=digme%20fitness%20limited%20Estimated%20Valuation&amp;text=Pomanda%20estimates%20the%20enterprise%20value,multiple%20(adjusted%20for%20liquidity).">7.2 million</a>. Murty also owns shares in two of famed British cook and entrepreneur Jamie Oliver restaurants, Wendy’s in India and in fitness brand Digme Fitness, according to <a href="https://economictimes.indiatimes.com/news/international/world-news/akshata-murty-billionaire-wife-of-rishi-sunak-runs-these-businesses/articleshow/95075345.cms?from=mdr">Economic Times</a>. Murty also heads the London branch of IT company <a href="https://en.wikipedia.org/wiki/Akshata_Murty#cite_note-15">Soroco</a>, co-founded with her brother <keyword id="80837" type="General" weightage="50" keywordseo="rohan-murthy" source="Orion">Rohan Murthy</keyword> in 2014. ‘I know how <keyword id="4793" type="General" weightage="50" keywordseo="will-smith" source="Orion">Will Smith</keyword> felt at the Oscars’ Rishi, in a BBC news <a href="https://www.bbc.com/news/uk-politics-60941902">podcast</a>, defending the smear campaign against his family, especially his wife, said, “I think it's totally fine for people to take shots at me. It's fair game. I'm the one sitting here and that's what I signed up for.” “But I feel, on reflection, both Will Smith and me having our wives attacked - at least I didn't get up and slap anybody, which is good”, he <a href="https://www.bbc.com/news/uk-politics-60941902">added</a>. Rishi Sunak, until recently was the chancellor to the exchequer, residing in 11 Downing Street. He resigned in July and the family shifted to a house in West London. The<a href="https://en.wikipedia.org/wiki/Akshata_Murty#cite_note-15"> couple</a> reportedly also own a manor house in <keyword id="15351944" type="General" weightage="50" keywordseo="kirby-sigston" source="Orion">Kirby Sigston</keyword>, a mews house in Central London, a penthouse apartment in Santa Monica and a flat on Old Brompton Road. They would soon be moving to 10 Downing Street. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/rishi-sunak-akshata-murtys-combined-fortune-is-2x-that-of-king-charles-iii/articleshow/95074007.cms">Rishi Sunak, Akshata Murty's combined fortune is 2x that of King Charles III</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/row-over-bravermans-reappointment-as-uk-home-secy/articleshow/95094758.cms">Row over Braverman's reappointment as UK Home Secy</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/rishi-sunaks-wife-akshata-murty-earned-15-3-mn-dividend-income-from-infosys-in-2022/articleshow/95076869.cms">Rishi Sunak's wife Akshata Murty earned $15.3 mn dividend income from Infosys in 2022</a>

Meet the first Indian first lady of UK - Akshata Murty

Rishi Sunak is the first Indian-origin British PM – Know more about one of UK’s richest premiers

A bitter experience on a train in 1974 in Nis, a border town between what is now Serbia and Bulgaria, turned N R Narayana Murthy into a "compassionate capitalist", leading him to create Infosys, the country's IT bellwether.
 Recalling the incident, Murthy said he was engaged in a conversation with a girl, who could only understand French, but it landed him in trouble.
 "We were talking about life in Bulgaria. I think the boy, who was accompanying the girl, got upset with us for some reason. So, he went and brought the police," Murthy said on Sunday while addressing the audience at a tech fest organized by IIT, Bombay, through a video link.
 The Bulgarian guards took Murthy's passport, luggage and dragged him on the platform. He was kept in an 8X8 room, with primitive toilet facilities, for a few days.
 "I thought they would open the door in the morning and get me some breakfast since I was the state guest, but nothing happened. I lost all hope of eating anything," he said.
 The next morning, police took Murthy to the platform and pushed him into the guard's compartment of a departing freight train. At this point, Murthy had not had anything to eat or drink for five days in a row.
 The guards said, "Look, you are from a friendly country called India, so we are letting you go but we will give you your passport when you reach Istanbul."
 If a country treats friends like this, Murthy thought to himself, he would not want to be part of a communist country ever.
 "That cued me from being a confused leftist to a determined compassionate capitalist," he said.
 That incident pushed Murthy towards taking the plunge into entrepreneurship.
 He said his first attempt at entrepreneurship was a company called Softronics focused on providing IT services to the domestic market, in Pune, which he closed as he could not see any future prospects. See also: <a href="https://www.businessinsider.in/thelife/personalities/news/top-10-tech-billionaires-on-the-forbes-list-of-100-richest-indians/articleshow/71539382.cms">Top 10 tech billionaires on the Forbes list of 100 richest Indians</a> <a href="https://www.businessinsider.in/thelife/personalities/news/salil-parekh-infosys-ceo-profile/articleshow/71699382.cms">The Infosys clean-up under Salil Parekh seems to have come a full circle within 2 years</a> <a href="https://www.businessinsider.in/here-are-all-things-indian-about-boris-johnsons-new-cabinet/articleshow/70381071.cms">Here are all things Indian about Boris Johnson’s new Cabinet</a>

Infosys founder Narayana Murthy shares experience that turned him into 'compassionate capitalist'

New Delhi, <keyword id="1564214" type="COMPANY" weightage="20" keywordseo="the-Enforcement-Directorate">The Enforcement Directorate</keyword> (ED) on Wednesday said it has arrested three promoters of the <keyword id="4334121" type="PERSON" weightage="20" keywordseo="agri-gold-group">Agri Gold Group</keyword> of Companies in a Ponzi Scheme Fraud Case worth ₹6,380 crore. Those arrested have been identified as Avva Venkata Rama Rao, <keyword id="10482453" type="COMPANY" weightage="20" keywordseo="avva-venkata-seshu-narayana-rao">Avva Venkata Seshu Narayana Rao</keyword>, Avva Hema Sundara Vara Prasad, who are the main accused under the sections of the prevention of money laundering act (PMLA). The accused were produced before <keyword id="10482454" type="COMPANY" weightage="20" keywordseo="the-ed-pmla-court">the ED PMLA Court</keyword>, Hyderabad, which granted them 14-day judicial custody. The ED had filed a case on the basis of multiple FIRs lodged in the Andhra Pradesh, Telangana and Karnataka. The scam was perpetrated by Avva Venkata Rama Rao through Agri Gold Group of Companies. Avva Venkata Rama Rao had earlier worked in the Golden Forest CIS Fraud scheme. The ED claimed that having learnt the tricks of the trade in that scheme, he hatched a well-planned conspiracy and along with his seven brothers and other associates set up more than 150 companies and started collecting deposits from general public with a promise of providing developed plots/farm lands or withdrawal at a high rate of return on maturity/pre-term. It said that thousands of commission agents were engaged to lure people with various schemes for hefty commission and managed to collect ₹6,380 crore from 32,02,628 such investors. In the end, the gullible investors neither got plots nor could recover their deposits. The group collected the deposits illegally from across the country. According to ED officials, the company duped lakhs of investors from Andhra Pradesh, Telangana, Karnataka, Odisha, Tamil Nadu, Maharashtra, Chhattisgarh and Andaman and Nicobar islands. The ED claimed that the modus operandi involved encouraging the gullible investors to pay the desired deposits either directly or through the agents under the pretext of real estate deal. "These companies did not mention either the actual market value of the land or its location or its boundaries or survey numbers or the permissions required to be obtained for the layouts from the concerned authorities. "They tried to color it as a real estate business, but in reality it was an unregulated unlicensed collective investment scheme," it said. The ED further stated that the Agri Gold Group of Companies did not obtain permission from RBI to collect such deposits. Even SEBI has reported that the business of <keyword id="10482452" type="COMPANY" weightage="20" keywordseo="the-agri-gold-farm-estates">the Agri Gold Farm Estates</keyword> India Private Limited was nothing but a Collective Investment Scheme and ordered the company to stop taking further deposits and return the money to the depositors. "Instead of complying with the directions of the SEBI in letter and spirit, accused Avva Venkata Rama Rao opened new Companies and started collecting deposits in the names of new companies on the pretext of real estate business with the help of an army of commission agents, thus, turning this into a ponzi scam," the ED said. Although the accused collected deposits from 32 lakh investors, they never developed lands sufficient to give plots to all the investors. Even by their unverified claims, at the end they had only 5.5 lakh plots available with them. "Considering the huge discrepancy in the amount of land available, the group should have used all their resources in identifying, buying and developing more land parcels. Instead, Avva Venkata Rama Rao and his family went on a siphoning spree and illegally diverted the public deposits and invested in myriad verticals and in private companies which were directly owned by their family," the ED said. During probe it was revealed that the accused also set up companies abroad and diverted large amounts of funds to off-shore entities. "Their names also figured in the Paradise Leaks and they had incorporated companies with the help of the infamous Mossack Fonsenca in Cayman Islands," the ED said. Earlier, searches were conducted at the residences of Avva Venkata Rama Rao and other directors including the residences of auditors at Vijayawada and Hyderabad. Various property related documents, cash amount of ₹22 lakh, digital devices and other documents were recovered and seized. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-infosys-wipro-jubilant-foodworks-bajaj-auto-majesco-and-others/articleshow/79909712.cms">Top stocks to watch – Infosys, Wipro, Jubilant FoodWorks, Bajaj Auto, Majesco, and others</a> <a href="https://www.businessinsider.in/stock-market/news/there-are-one-of-only-17-indian-companies-out-of-500-that-aced-the-du-pont-test/articleshow/79911627.cms">There are one of only 17 Indian companies out of 500 that aced the Du Pont test</a> <a href="https://www.businessinsider.in/business/corporates/news/wipro-buyback-offer-details-and-700-million-metro-ag-deal-drives-share-price/articleshow/79911875.cms">Wipro offers 10% more to buy back shares and signs a $700 million deal with Metro AG – everything that’s driving the IT services stock higher today</a>

Three promoters of Agri Gold Group arrested for Ponzi Scheme Fraud Case worth ₹6,380

<keyword id="6448574" type="PERSON" weightage="20" keywordseo="n-r-narayana-murthy">N R Narayana Murthy</keyword>, the co-founder of software giant <keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> who chairs a Sebi panel on alternate investment policy advisory, on Tuesday pitched for pension funds and banks to invest money in Indian startups. Speaking at the annual Tiecon event, Murthy said a bulk of the money which gets invested as risk capital in the upcoming companies is from abroad and there is a need for domestic money to play an important role in this. At the same event, Murthy's former colleague at Infosys T V <keyword id="6491998" type="PERSON" weightage="20" keywordseo="mohandas-pai">Mohandas Pai</keyword>, who is now associated with Ispirit, an advocacy group for startups, said only a tenth of the USD 60 billion invested into Indian startups since 2014 has come from domestic investors. Pai warned that "we risk the prospect of turning into a digital colony" by 2025, seeking to draw parallels with imperialism.
 He said there will be 1 lakh startups in India with a collective valuation of over USD 500 billion by 2025. There will be at least 100 unicorns among them and over 65 of them will be majorly owned by foreign investors.
 "This is one of the most important issues that we have been discussing (at the Sebi panel). That is, what are the policy changes that are required to make sure that there is more of Indian and domestic money coming into the startup sector because today it is by and large from abroad," Murthy said.
 "To do that, pension funds must be allowed, corporations must be allowed, banks must be allowed," he added.
 Pai sounded more disappointed with Indian billionaires who are willing to invest in real estate and even bank deposits, but have a tendency to overlook the startup sector.
 In an apparent reference to the spate of frauds, Pai said the billionaires also tend to pass the risk on money invested to banks.
 He said the biggest letdown has been from financiers in Mumbai, and asked startup entrepreneurs to educate such professionals on the need of the hour. 
 Pai said why Indian pension funds or insurance companies cannot invest, questioning how companies in the same sector from abroad are coming in and taking interests here.
 Meanwhile, Murthy also clarified on a recent controversy over cutting short his speech at an event where he shared stage with American e-commerce giant Amazon's chief executive <keyword id="191583" type="PERSON" weightage="20" keywordseo="Jeff-Bezos">Jeff Bezos</keyword>. He said Bezos had come on time to the venue, but the "indisciplined" crowd at the venue in New Delhi mobbed the entry gates which resulted in the delayed start for the event.
 Bezos was very understanding and smiled at the act of cutting short the speech, Murthy said, adding that this is so because the visiting honcho is himself a disciplinarian. See also: <a href="https://www.businessinsider.in/business/news/with-kapil-wadhawans-arrest-the-family-is-now-accused-of-scams-worth-over-a-billion-dollars/articleshow/73713230.cms?src=hp_ts">With Kapil Wadhawan’s arrest, the family is now accused of scams worth over a billion dollars</a> <a href="https://www.businessinsider.in/budget/news/union-budget-2020-what-can-finance-minister-nirmala-sitharaman-do/articleshow/73691622.cms?src=hp_wh">Watch: India’s ‘make or break’ budget 2020⁠— once-in-a-career crisis offers Finance Minister Nirmala Sitharaman a fertile ground for creativity</a>

India's tech icon Narayana Murthy says India may become a 'digital colony' if startups have to rely on foreign funds

New Delhi, Apr 1 () Infosys Foundation, the philanthropic arm of Infosys, on Wednesday said it has partnered Narayana Health to open a 100-room quarantine facility for COVID-19 patients in the vicinity of Narayana Health City in Bengaluru. The facility, aimed at serving patients belonging to the economically weaker sections of the society, will accommodate patients, offer regular monitoring by doctors, nurses, and provide essential medication, free of cost, a statement said. The patients in the isolation facility will be treated and monitored by the doctors and nurses of Narayana Health City, it added. Earlier this week, Infosys Foundation had announced its commitment of Rs 100 crore to help the government with COVID-19 relief efforts. "Diseases often hit the underprivileged the hardest, because they cannot afford proper treatment, and at the same time, they lose their livelihood while dealing with the illness. "This is a small effort by the Foundation to ensure that the underserved people of our society get access to clean, hygienic accommodation as well as appropriate medical treatment," Infosys Foundation Chairperson Sudha Murty said. Devi Shetty, chairman and executive director of Narayana Health, said providing safe-spaces, with proper medical care to enable patients to isolate themselves, will play a big role in India's fight against COVID-19. SR SHWSHW

Infosys Foundation partners Narayana Health City to open quarantine facility for COVID-19 patients

<keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> co-founder <keyword id="51793" type="ORGANIZATION" weightage="20" keywordseo="NR-Narayana-Murthy">NR Narayana Murthy</keyword> opened up on his biggest personal and professional regrets and said he regrets quitting as Infosys chairman. Murthy said he should have listened to other co-founders in 2014 before stepping down as the chairman. Murhty recounted, “A lot of my founder colleagues told me not to leave Infosys in 2014, to stay a few years.” “Generally, I find that I am a very emotional person. A lot of my decisions are based on idealism and probably, I should have listened to them," he told CNBC TV18. However, Murthy did clarify that he did not miss being in the campus daily. In 2014, 33 years after starting Infosys, Murthy bid farewell to the company he had set up with six other co-founders. Murthy had the longest run of about 21 years as CEO before passing on the baton to <keyword id="44604" type="PERSON" weightage="20" keywordseo="Nandan-Nilekani">Nandan Nilekani</keyword> and then S Gopalakrishnan and S D Shibulal. In October 2014, former SAP board member <keyword id="6369763" type="PERSON" weightage="20" keywordseo="Vishal-Sikka">Vishal Sikka</keyword> took over as CEO. In the interview, the IT veteran termed the listing of the country's second largest software services firm on Nasdaq as his biggest success story. "I think sitting on those high stools at Nasdaq when we got listed, when we became the first Indian company to be listed on Nasdaq, and borrowing the words of Neil Armstrong to say that it is a small step for Nasdaq, but a giant leap for Infosys and the Indian software industry. I think that was the best," he said.

Regret quitting as chairman of Infosys: Narayana Murthy

<ul><li>Just a month ahead of the budget, Britain is now making way for its new Finance Minister — <keyword id="221875" type="PERSON" weightage="20" keywordseo="Rishi-Sunak">Rishi Sunak</keyword>. </li><li>The 39-year old Indian-origin leader joined politics in 2014 and was the secretary to the Treasury before this. </li><li>Sunak figured his way into politics at the Oxford University, where he studied Philosophy, Politics and Economics. </li><li>Before foraying into politics, he worked as an analyst for the investment banking firm Goldman Sachs.</li></ul>Just a month ahead of the budget, Britain is now making way for its new Finance Minister — Rishi Sunak. This comes after the sudden resignation of <keyword id="8776490" type="PERSON" weightage="20" keywordseo="chancellor-sajid-javid">Chancellor Sajid Javid</keyword> over differences with Prime Minister <keyword id="6380867" type="PERSON" weightage="20" keywordseo="boris-johnson">Boris Johnson</keyword>. The 39-year old Indian-origin leader — who was one of the early supporters of Johnson — joined politics in 2014 and was the secretary to the Treasury before this. Sunak, who was born in 1980 and brought up in Hampshire, UK after his grandparents moved there from Punjab, was a ‘first generation immigrant.’ Sunak is married to <keyword id="80833" type="PERSON" weightage="20" keywordseo="Akshata-Murthy">Akshata Murthy</keyword>, the daughter of the Indian billionaire and co-founder of IT services giant Infosys Narayana Murthy. “ I’m a first generation immigrant. My parents emigrated here, so you've got this generation of people who are born here, their parents were not born here, and they've come to this country to make a life,” he had once said. After completing his education at the elite private school Winchester College in the UK, he did his MBA from Stanford University and worked as an analyst for the investment banking firm Goldman Sachs and later moved on to become co-founder to a global investment firm. A plunge into politics But later Sunak figured his way into politics at the Oxford University, where he studied Philosophy, Politics and Economics — often called the ‘trusted route for aspiring Westminster politicians.’ Since then, he has the leaders backing him up on his political career. Javid recently said for his successor — "The force is strong with young Sunak." While he remains a rising star of Conservative Party. Lord Hague of Richmond, the leader of his party calls him ‘exceptional.’ "From working in my mum's tiny chemist shop to my experience building large businesses, I have seen how we should support free enterprise and innovation to ensure Britain has a stronger future," Sunak had <a href="https://www.ndtv.com/india-news/rishi-sunak-son-in-law-of-narayana-murthy-appointed-uk-finance-minister-2179753">said</a> during the Brexit referendum. 
 
 <div type="image" title="Rishi Sunak arrives at Downing Street in London" msid="74129724" hostid="261" caption="&amp;lt;p&amp;gt;Rishi Sunak arrives at Downing Street in London, Britain February 13, 2020. REUTERS/Toby Melville&amp;lt;/p&amp;gt;"></div>



 He is a fan of sports like football and cricket. Football player Matt Le Tissier is one of his childhood heroes. "One of my prized possessions is an 18th birthday card signed by the entire Saints team, but Matt in the middle there, which I've still got," Sunak <a href="https://www.bbc.co.uk/sounds/play/p07qtbdx">told the BBC</a> in October 2019. He was born in the UK but his upbringing keeps his roots within India. "In terms of cultural upbringing, I'd be at the temple at the weekend - I'm a Hindu - but I'd also be at the Saints game as well on a Saturday — you do everything, you do both." In the interview with BBC, he said he had been blessed for not facing much racism growing up but has one such incident in his memory still. "I was just out with my younger siblings, and I think I was probably a mid-teenager, and we were out at a fast food restaurant and there were people sitting nearby, it was the first time I'd experienced it, just saying some very unpleasant things. The 'P' word. And it stung. I still remember it. It seared in my memory. You can be insulted in many different ways, certainly in this job, but that stings in a way that is hard to explain," Sunak <a href="https://www.bbc.com/news/business-51490893">said</a>. See also: <a href="https://www.businessinsider.in/business/news/abidwali-neemuchwalas-scorecard-as-wipros-ceo-for-four-years/articleshow/73794632.cms">Abidwali Neemuchwala’s scorecard as Wipro’s CEO for four years</a> <a href="https://www.businessinsider.in/business/corporates/news/boris-johnsons-brexit-deal-sets-tata-group-and-other-stocks-alight-in-india/articleshow/71632946.cms">Boris Johnson's Brexit deal sets Tata Group and other stocks alight in India</a> <a href="https://www.businessinsider.in/politics/news/britains-new-parliament-votes-for-boris-johnsons-brexit-bill/articleshow/72906025.cms">Britain's new parliament votes for Boris Johnson's Brexit bill</a>

You Searched For "narayana" and got 13 results

70-hour work week to sleeping in offices: Golden words on hustle culture from NR Narayana Murthy, Elon Musk, and other billionaires

Divyanshi Sharma

Born with a golden spoon: 4-month-old old Ekagrah Murty now owns ₹240 crore Infosys stock

IANS

Spending $1 bn annually can help train STEM teachers in India: Narayana Murthy

IANS

A 70-hour-week regimen 'far too ambitious' say medical experts

PTI

Murthy's 70-hr-a-week work call to youth trigger sharp reactions from founders

IANS

Meet the first Indian first lady of UK - Akshata Murty

Eetika Kapoor

Rishi Sunak is the first Indian-origin British PM – Know more about one of UK’s richest premiers

Eetika Kapoor

Infosys founder Narayana Murthy shares experience that turned him into 'compassionate capitalist'

PTI

Three promoters of Agri Gold Group arrested for Ponzi Scheme Fraud Case worth ₹6,380

IANS

India's tech icon Narayana Murthy says India may become a 'digital colony' if startups have to rely on foreign funds

PTI

Infosys Foundation partners Narayana Health City to open quarantine facility for COVID-19 patients

PTI

Regret quitting as chairman of Infosys: Narayana Murthy

BI India Bureau

Britain’s new FM Rishi Sunak is a ‘first generation immigrant’ with family ties to Narayana Murthy, a doyen of Indian IT

Prerna Sindwani

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