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Tuesday, May 14: Curtains on the 77th <keyword id="19999643" type="General" weightage="20" keywordseo="Cannes-Film-Festival" source="keywords">Cannes Film Festival</keyword> are set to rise today, with anticipation filling the air at the Palais des Festivals et des Congrès in <keyword id="6366702" type="General" weightage="100" keywordseo="cannes" source="Orion">Cannes</keyword>, France. The grand opening promises a spectacle, with the unveiling of Greta Gerwig's esteemed jury and the presentation of an honorary <keyword id="21348893" type="General" weightage="20" keywordseo="Palme-dOr" source="keywords">Palme d'Or</keyword> to the illustrious Meryl Streep. Leading the charge into cinematic splendour will be Quentin Dupieux's uproarious French comedy, 'The Second Act', chosen as the festival's opening delight. India will shine brightly on the Cannes stage this year. <keyword id="21272693" type="General" weightage="20" keywordseo="Payal-Kapadia" source="keywords">Payal Kapadia</keyword>'s luminous creation, '<keyword id="21272312" type="General" weightage="20" keywordseo="All-We-Imagine-As-Light" source="Orion">All We Imagine As Light</keyword>', will mark a triumphant return for Indian cinema after 30 years of absence from the Palme d'Or competition. The last Indian film to vie for this most prestigious Cannes award was the 1994 Malayalam-language drama ‘Swaham’, directed by Shaji N. Karun. Among the attendees, <keyword id="20102038" type="General" weightage="20" keywordseo="Aishwarya-Rai-Bachchan" source="keywords">Aishwarya Rai Bachchan</keyword> will grace the red carpet once again, radiating elegance alongside <keyword id="545350" type="General" weightage="20" keywordseo="Aditi-Rao-Hydari" source="Orion">Aditi Rao Hydari</keyword> and <keyword id="19902028" type="General" weightage="20" keywordseo="sobhita-dhulipala" source="keywords">Sobhita Dhulipala</keyword>. Adding to the allure, <keyword id="19909596" type="General" weightage="20" keywordseo="Kiara-Advani" source="keywords">Kiara Advani</keyword> will reportedly represent India at the Women in Cinema Gala Dinner. Hosted by Vanity Fair in collaboration with the Red Sea Film Foundation, the event brings together six talented women from around the world and honours their accomplishments in the entertainment industry. Despite the anticipation surrounding films and stars, much attention has been drawn to the off-screen drama surrounding <keyword id="21261193" type="General" weightage="20" keywordseo="Cannes-2024" source="Orion">Cannes 2024</keyword>. For starters, festival workers, discontent with short-term contracts, have threatened to strike due to the lack of unemployment benefits between festivals. French actor Judith Godrèche's accusations of rape and sexual abuse against two directors earlier this year have sparked a significant #MeToo moment in the French film industry. Godrèche will premiere her short film “Moi Aussi” at the festival. Iranian filmmaker Mohammed Rasoulof, whose film “The Seed of the Sacred Fig” is competing in Cannes, added further turmoil to the festivities on Monday, after revealing that he has fled Iran after receiving an eight-year prison sentence and flogging for his critical portrayal of the Iranian regime. Nevertheless, it will be interesting to see how well the 77th Cannes Festival carries the torch of last year's triumphs, where cinematic brilliance birthed Oscar glory by producing three best picture nominees. To revive the spirit of the previous year, Messi, the canine star of “Anatomy of a Fall,” will also be returning to Cannes for a series of French TV spots.

Cannes 2024: India returns to Palme d'Or stage after 30 years! Aishwarya, Kiara set to steal the spotlight

New Delhi, The government's fiscal deficit at Rs 11 lakh crore at January end touched 63.6 per cent of the revised annual target, according to the official data released on Thursday. In the corresponding period last year, the fiscal deficit or gap between the expenditure and revenue was 67.8 per cent of Revised Estimates (RE) of the Union Budget 2022-23. For 2023-24, the government's fiscal deficit is estimated at Rs 17.35 lakh crore or 5.8 per cent of the GDP. The government's total receipts stood at Rs 22.52 lakh crore (81.7 per cent of corresponding RE 2023-24 of total receipts) as of January 2024, according to the data released by <keyword id="20408086" type="General" weightage="20" keywordseo="controller-general-of-accounts" source="keywords">Controller General of Accounts</keyword> (<keyword id="20408087" type="General" weightage="20" keywordseo="cga" source="keywords">CGA</keyword>). This comprised Rs 18.8 lakh crore tax revenue (net), Rs 3.38 lakh crore of non-tax revenue and Rs 34,219 crore of non-debt capital receipts. Non-debt capital receipts consist of the recovery of loans and miscellaneous capital receipts. The total expenditure incurred by the Centre was Rs 33.54 lakh crore (74.7 per cent of corresponding RE 2023-24), out of which Rs 26.33 lakh crore is on revenue account and Rs 7.2 lakh crore on capital account. As per the CGA data, Rs 8,20,250 crore has been transferred to state governments as devolution of share of taxes by the central government up to this period, which is Rs 1,52,480 crore higher than the previous year. Out of the total revenue expenditure, Rs 8,21,731 crore was on account of interest payments and Rs 3,15,559 crore on major subsidies. Commenting on the data, <keyword id="20028743" type="General" weightage="20" keywordseo="aditi-nayar" source="keywords">Aditi Nayar</keyword>, Chief Economist, <keyword id="19908266" type="General" weightage="20" keywordseo="icra" source="keywords">ICRA</keyword>, said: "While there may be some slippage in the disinvestment target and capex may trail the FY2024 RE, ICRA does not expect the revised fiscal deficit target of Rs 17.3 lakh crore for FY2024 to be breached." The Prime Minister Narendra Modi-led government in the interim Budget refrained from announcing populist measures, which is expected to help it trim the fiscal deficit to 5.1 per cent of the GDP next fiscal and 4.5 per cent in FY26. The nominal GDP growth for the next financial year has been pegged at 10.5 per cent against the 11 per cent estimated earlier. The nominal GDP as per budget estimate 2024-25 has been projected at Rs 3,27,71,808 crore, assuming 10.5 per cent growth over the estimated nominal GDP of Rs 2,96,57,745 crore, as per the First Advance Estimates of FY2023-24. Helped by an improvement in tax buoyancy, the government managed to achieve a fiscal deficit of 5.8 per cent against the budget estimate of 5.9 per cent for the current financial year.

Fiscal deficit at Jan-end touches 63.6% of full year target: Govt data

Chennai, Credit rating agency <keyword id="19908266" type="General" weightage="20" keywordseo="icra" source="keywords">ICRA</keyword> on Wednesday said <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s Gross Domestic Product (GDP) would grow at 6 per cent in Q3 FY2024 from 7.6 per cent in Q2 FY2024. Further, the Gross Value Added (GVA) growth is estimated to ease to 6 per cent in Q3 FY2024 from 7.4 per cent in Q2 FY2024, driven by the industrial and agriculture sectors, amid an improvement in the services sector. According to ICRA, the anticipated deterioration in the industrial sector growth in Q3 FY2024 is partly attributable to an adverse base effect and a deceleration in volume expansion even as the continued deflation in commodity prices kept profitability of some sectors favourable. Additionally, a mild 0.2 per cent contraction in the total spending of Government of India and 25 state governments (all states except <keyword id="19915575" type="General" weightage="20" keywordseo="arunachal-pradesh" source="keywords">Arunachal Pradesh</keyword>, <keyword id="19895061" type="General" weightage="20" keywordseo="goa" source="keywords">Goa</keyword> and Manipur) in Q3 FY2024 is expected to have dulled the GVA growth in the quarter. "Lower volume growth for the industrial sector, flagging momentum in certain indicators of investment activity, a slowdown in Government expenditure and an uneven monsoon are expected to dampen the GDP growth to 6.0 per cent in Q3 FY2024 from 7.6 per cent in Q2 FY2024," <keyword id="20028743" type="General" weightage="20" keywordseo="aditi-nayar" source="keywords">Aditi Nayar</keyword>, Chief Economist, Head-Research &amp; Outreachs said. ICRA estimates the industrial GVA growth to record a broad-based moderation to 8.8 per cent in Q3 FY2024 from 13.2 per cent in Q2 FY2024, led by all four sub-sectors, namely, manufacturing, electricity, construction and mining and quarrying. ICRA projects manufacturing GVA expansion at a healthy 10 per cent in Q3 FY2024, twice as high as the 4.7 per cent seen in Q1 FY2024, albeit lower than the 13.9 per cent recorded in Q2 FY2024, amid a deceleration in volume growth as reflected in the manufacturing Index of Industrial Production (IIP). Owing to the decline in output across all major kharif crops projected by the First Advance Estimates, ICRA projects the growth in agriculture, forestry, and fishing to dip to a muted 0.5 per cent in Q3 FY2024 from 1.2 per cent in Q2 FY2024. This would be the lowest growth print for the sector since Q4 FY2019 (-0.9 per cent). In contrast to industry and agriculture, ICRA estimates the services GVA YoY growth to rise to 6.5 per cent in Q3 FY2024 from 5.8 per cent in Q2 FY2024, led by trade, hotels, transport, communication and services related to broadcasting.

India's FY24 third quarter GDP growth seen at 6%: ICRA

<ul><li>L’Oréal has donated 2,50,000 units of hand sanitizers to frontline workers and over 1,500 Care packages to nurses.</li><li>It has now launched a new ad film featuring <keyword id="545350" type="PERSON" weightage="20" keywordseo="Aditi-Rao-Hydari">Aditi Rao Hydari</keyword>, <keyword id="1472549" type="PERSON" weightage="20" keywordseo="Sobhita-Dhulipala">Sobhita Dhulipala</keyword>, Shakti Mohan and <keyword id="68864" type="PERSON" weightage="20" keywordseo="Mithali-Raj">Mithali Raj</keyword>.</li></ul>Globally celebrated as the birthday of Florence Nightingale, 12th May- ‘<keyword id="646641" type="ORGANIZATION" weightage="20" keywordseo="International-Nurses-Day">International Nurses Day</keyword>’ recognizes the work of nurses around the world. Since the beginning of the pandemic, compromising their own safety, nurses have become the primary caregiver and family to many. Lauding their relentless effort and to shine a spotlight on their contributions, L’Oréal Paris along with its ambassadors Aditi Rao Hydari, Sobhita Dhulipala, Shakti Mohan and Mithali Raj share their heartfelt gratitude for our heroes through a digital film. <div type="Youtube" id="phiSrj1VvGU" title="L'Oreal Paris Thanks All Nurses Because They Are Worth It!" thumbUrl="https://i.ytimg.com/vi/phiSrj1VvGU/mqdefault.jpg"></div> Saluting their unbreakable spirit, L’Oréal has donated 2,50,000 units of hand sanitizers to frontline workers and over 1,500 Care packages to nurses across hospitals such as Tata Memorial Hospital, Breach Candy Hospital, Chakan Primary Health Centre etc. L’Oréal has also provided financial support to the French government’s initiative to provide oxygen generators, liquid oxygen containers and specialized respirators to the country. In addition, L’Oréal is working with a network of NGOs across India, including GiveIndia, United Way Mumbai, Hemkunt Foundation, ActionAid Association, the Akshay Patra Foundation etc. to provide critical oxygen equipment, medical supplies, food, education and hygiene kits across the country. The film carries a strong message and is our humble tribute to these heroes for their phenomenal strength, grit, and selfless contribution. Thanking them, brand ambassador Aditi Rao Hydari, said, “To all the healthcare professionals, the ones braving each day, L’Oréal Paris says thank you. Thank you for putting your own life at risk to save a million lives and for being the beauty the world needs.” Expressing gratitude on behalf of the brand, Pau Gruart, General Manager, L’Oréal Paris, India, said, “We can never be grateful enough to our healthcare heroes for working relentlessly each day to serve the community, and this video is our way to say thank you. We recognize and salute their unfathomable support and are committed to provide any aid that we can during these trying times.”

L’Oréal Paris and ambassadors Aditi Rao Hydari, Sobhita Dhulipala, Shakti Mohan and Mithali Raj share their heartfelt gratitude for heroes on International Nurses Day

<keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>'s gross <keyword id="6354679" type="COMPANY" weightage="20" keywordseo="gst">GST</keyword> revenue collection reached a new record high of over ₹1.23 <keyword id="4049201" type="PERSON" weightage="20" keywordseo="lakh-crore">lakh crore</keyword> in March 2021. The GST <keyword id="6398283" type="UNKNOWN" weightage="20" keywordseo="revenues">revenues</keyword> during March 2021 are the highest since the introduction of the tax. "In line with the trend of recovery in the GST revenues over past five months, the revenues for the month of March 2021 are 27 per cent higher than the GST revenues in the same month last year," the <keyword id="47209" type="COMPANY" weightage="20" keywordseo="Finance-Ministry">Finance Ministry</keyword> said in a statement. "During the month, revenues from import of goods were 70 per cent higher and the revenues from domestic transaction (including import of services) are 17 per cent higher than the revenues from these sources during the same month last year." According to the statement, the gross GST revenue collected in the month of March 2021 is at a record high of ₹123,902 crore of which <keyword id="6373817" type="COMPANY" weightage="20" keywordseo="cgst">CGST</keyword> is ₹22,973 crore, SGST is ₹29,329 crore, <keyword id="6360947" type="COMPANY" weightage="20" keywordseo="IGST">IGST</keyword> is ₹62,842 crore and cess is at ₹8,757 crore. "The government has settled ₹21,879 crore to CGST and ₹17,230 crore to SGST from IGST as regular settlement. In addition, Centre has also settled ₹28,000 crore as IGST ad-hoc settlement in the ratio of 50:50 between Centre and States or UTs." "The total revenue of Centre and the states after regular and ad-hoc settlements in the month of March 2021 is ₹58,852 crore for CGST and ₹60,559 crore for the SGST. Centre has also released a compensation of ₹30,000 crore during the month of March 2021." ICRA Principal Economist <keyword id="473448" type="PERSON" weightage="20" keywordseo="Aditi-Nayar">Aditi Nayar</keyword> said: "The healthy GST collections in the month of March 2021, along with the additional devolution of ₹45,000 crore to the state governments for the just-concluded fiscal, confirm our view that the tax revenues in FY2021 have exceeded the 'RE'." "As a result, we continue to expect the GoI's fiscal deficit to undershoot the FY2021RE of ₹18.5 trillion, suggesting ample cash balances at the start of FY2022." Abhishek Jain, Tax Partner, EY India, said: "The all-time high record GST collections of 1.23 lakh crore and it being 27 per cent higher than last year is a significant uptick." "It clearly shows a sustained economic recovery and also is a result of GST audit closures and the Government tightening compliance and anti-evasion measures." SEE ALSO: <a href="https://www.businessinsider.in/finance/news/upi-crosses-5-lakh-crore-in-transaction-value-in-march/articleshow/81820799.cms">India’s digital payments soar – UPI crosses ₹5 lakh crore in transaction value in March</a> <a href="https://www.businessinsider.in/india/news/west-bengal-is-the-highest-contributor-to-small-savings-schemes/articleshow/81825902.cms">West Bengal is the highest contributor to small savings schemes – with elections underway, it could have been a trigger for the government to roll back interest rate cuts</a> <a href="https://www.businessinsider.in/business/startups/news/revolut-india-plan-starts-with-a-25-million-investment-and-possibly-a-fintech-acquisition/articleshow/81833983.cms">Revolut’s India plan starts with a $25 million investment and possibly, a fintech acquisition</a>

India's GST revenue collection reaches new high of over ₹1.23 crore in March

"Recession in India will end latest by March" -- So what should India's budget look like?

<ul><li>The brand aims to train 1 million people in India in <keyword id="10330467" type="UNKNOWN" weightage="20" keywordseo="bystander-intervention">bystander intervention</keyword> to tackle street harassment by 2022.</li><li>It has joined hands with NGO Breakthrough as its on ground training partner.</li><li><keyword id="545350" type="PERSON" weightage="20" keywordseo="Aditi-Rao-Hydari">Aditi Rao Hydari</keyword> has been roped in as the face of the initiative.</li></ul>On United Nations International Day for the Elimination of Violence against Women 2020, L’Oréal Paris launched Stand Up, its International bystander intervention training program against street harassment. From colleges to public transport to markets to online spaces, Stand Up will grow a community of 1 million upstanders, trained in the 5D's: Direct, Delegate, Document, Distract, Delay, the expert-approved bystander intervention training program pioneered by NGO <keyword id="1607930" type="COMPANY" weightage="20" keywordseo="hollaback">Hollaback</keyword>! Bystander intervention is the term for witness action to defuse situations and make public spaces safer. To take the training into the heart of local communities in India, L’Oréal Paris has partnered with NGO Breakthrough to deliver on ground trainings. With Stand Up, L’Oréal Paris aims to impart 1 million trainings in India, conducted online and on ground by 2022. Stand Up against Street Harassment Stand Up will create a community of upstanders, on ground with Breakthrough, through a dedicated training website: www.Standup-India.com and across social media. This community will be trained in the 5D’s: Direct, Distract, Delegate, Document, Delay, beginning with Distraction, the simple act of interrupting an incident by asking the time or pretending to be lost. By opening the public eye to the scale of harassment women in particular, experience, Stand Up aims to simultaneously discourage harassers, support victims and encourage bystanders to intervene in a safe manner. “Breakthrough has been working for over 20 years to make violence and discrimination against women unacceptable. We are very proud to partner with L’Oréal Paris in empowering young people to take action, for themselves, and for others, now and in the future. Bystanders are often not equipped to tackle street harassment and feel helpless during such situations. Based on the expert -approved 5D’s methodology, Stand Up makes a clarion call to citizens to take action against street harassment, by encouraging them to undertake a simple and effective training program, that not only supports victims, but also enables bystanders to safely intervene. Stand Up will enable women to reclaim public spaces,” said Sohini Bhattacharya, President and CEO, Breakthrough India. Standing up for everyone’s self-worth Living by its revolutionary ‘Worth it’ tagline, L’Oréal Paris has multiplied brand initiatives to break down the barriers that prevent women from fully believing in and realizing their self-worth. Leveraging its global reach, today the Stand Up movement takes the brand’s support for women into the public space by tackling the intimidating behaviors that impact girls’ and women’s very sense of freedom to move through the world. “L'Oréal Paris stands for empowerment in every walk of a woman's life. By removing obstacles that prevent women from fulfilling their ambitions, we are committed to elevating their sense of self-worth. Sexual harassment in public spaces is the #1 issue faced by women and girls around the world, which significantly impacts their self-confidence. With our NGO partner Breakthrough, we invite women and men to Stand Up and safely respond when they witness or experience street harassment. Together we can create a world for girls and women to march confidently forward into a world free from street harassment,” <keyword id="9743429" type="PERSON" weightage="20" keywordseo="pau-gruart">Pau Gruart</keyword>, General Manager, L'Oréal Paris, India said. "How many of us look the other way because we simply don't know how to help? We're partnering with L'Oréal Paris to train people around the world, men, women, of all origins and all generations in the 5 D's, the simple tools they need in their everyday lives to first recognize and then to intervene. This partnership has the power to really transform this issue. Together, we can end harassment to make the public space safe for girls and women." <keyword id="10330466" type="PERSON" weightage="20" keywordseo="emily-may">Emily May</keyword>, co-founder and executive director of Hollaback! added. The Global Study An international survey on sexual harassment in public spaces, conducted in partnership with Ipsos, researchers at Cornell University and L’Oréal Paris, reveals that 78% of women have experienced sexual harassment in public spaces, only 25% of victims say someone helped them, 79% said it improved the situation when a witness intervened. This survey was carried in 8 countries across the world: India, Canada, France, Italy, Mexico, Spain, UK, USA. Join the movement against street harassment: www.Standup-India.com

L’Oréal Paris aims to train 1 million people in India by 2022 to help tackle street harassment with its initiative, Stand Up

<keyword id="5214" type="COMPANY" weightage="100" keywordseo="Balaji-telefilms">Balaji Telefilms</keyword>, the production house that has been munching stereotypical saas-bahu sagas in the name of entertainment for quite some time now, seems to have come of age. Catching up with the trend of going digital, Balaji has come up with a digital platform called ALTBalaji, which they say houses the biggest library of original exclusive digital content in India. With varied shows that cater to a different audience than Balaji’s usual, the platform has had an overwhelming response, says CEO <keyword id="158783" type="PERSON" weightage="100" keywordseo="Nachiket-Pantvaidya">Nachiket Pantvaidya</keyword>, adding that they have got close to four million downloads and customers from more than 80 countries. Unlike other players in the industry that offer viewers a free period to watch their shows, ALTBalaji provides them with free episodes of every show on <keyword id="10879" type="CITY" weightage="100" keywordseo="YouTube">YouTube</keyword>, and when they like it and want to proceed with further episodes, they can subscribe to the service. Pantvaidya feels that even though rival platforms were launched before ALTBalaji, their timing couldn’t have been better because of demonetisation and <keyword id="6354504" type="UNKNOWN" weightage="100" keywordseo="Reliance-Jio">Reliance Jio</keyword>’s launch, which made an average Indian more digital- and internet friendly. Talking of the future, Pantvaidya says that India is still afar from the time when internet would replace television, but digital entertainment channels still have three defined types of audience to cater to: Indian men, who don’t have anything to watch on the television; people who would like to watch a finite series with limited episodes; and lastly, audiences who want to see better production values, which sadly Indian television can’t provide because of the compulsion of daily episodes. To gain massive success, he says that digital entertainment platforms need to create a habit of OTT viewing in Indian audience, and have affordable subscription plans to further attract them. Also, commitment to good characters and good stories is important as well. About the transition from television to internet, he says that the transition required us to deep-dive and come up with shows that were not typically Balaji-types, in order to create a variety. When asked why there’s a sudden shift from television to internet, he credits the speed and spread of internet and the technology of internet-ready devices, which has led to people watch digital shows at great speed, from anywhere across the country, and on bigger screens as per their preference. While Balaji has been stereotyping women and men in gender roles for as long as we remember, ALTBalaji, Pantvaidya suggests, is doing the opposite by bringing out female characters that defy these stereotypes. In <keyword id="4302697" type="UNKNOWN" weightage="100" keywordseo="Karrle-Tu-Bhi-Mohabbat">Karrle Tu Bhi Mohabbat</keyword>, Sakshi Tanwar’s character is a single, working woman who is committed to her profession. In the female-centric show of DevDD, lead character Devika is taking on the system, standing up for women and their right to express themselves. Even in <keyword id="4408510" type="UNKNOWN" weightage="100" keywordseo="bewafaa-sii-wafaa">Bewafaa sii Wafaa</keyword>, the female lead Meghna, played by <keyword id="444213" type="UNKNOWN" weightage="100" keywordseo="Aditi-Vasudev">Aditi Vasudev</keyword>, has an affair, which you won’t see in any of the shows that Balaji has produced. While we don’t agree with the idea that in order to appear modern and unconventional, a woman needs to have an extramarital affair, we understand what he means by saying that the women in these shows are different from their television counterparts. Speaking of the financial aspects of these web series, they work on a subscriber model and not an advertising model. Therefore, they need to give it some time to work to return money. While they get new subscriptions every month, they are also coming up with a new show every 15 days, so it’s difficult to decide as of now if a particular show is financially working or not. About a year or so down the line, they might also have some way to measure the success of individual shows, but it’s too soon to talk about that, signs off Pantvaidya.

In conversation with ALTBalaji CEO Nachiket Pantvaidya on foraying into digital space

<keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword>' former CFO, T V <keyword id="6491998" type="PERSON" weightage="100" keywordseo="Mohandas-Pai">Mohandas Pai</keyword> today exhorted institutional investors to raise questions about the huge cash pile on the company's books and governance issues, as investors have an obligation to protect their investment. 
 "Capital allocation is very important. Institutional investors should raise those questions. They have a duty...institutional investors should raise questions on governance because it concerns the company's reputation," <keyword id="249145" type="PERSON" weightage="20" keywordseo="Pai">Pai</keyword> told <keyword id="6367495" type="COMPANY" weightage="20" keywordseo="PTI">PTI</keyword> in an interview. <a href="http://www.businessinsider.in/infosys-employees-in-stresspromotions-and-increments-may-take-a-hit/articleshow/57095393.cms">ALSO READ: ​ Infosys employees in stress: Promotions and Increments may take a hit</a> 
 
Infosys had liquid assets, including cash and cash equivalents and investments worth Rs 35,697 crore (about $5.25 billion) on its books at the end of <a href="http://www.businessinsider.in/infosys-employees-in-stresspromotions-and-increments-may-take-a-hit/articleshow/57095393.cms">December 2016</a>. 
 
He asserted that founders, who hold 13% stake in the Bengaluru-based company, had raised these questions like any other investor would. 
 "The founders are investors like anybody else. They hold 13 per cent stake. They have every right to question the <keyword id="6364382" type="ORGANIZATION" weightage="20" keywordseo="Board">Board</keyword>... Since the largest shareholder has sought clarification, they must also seek detailed clarification," he said. 
 
Pai, along with former colleague <a href="http://www.businessinsider.in/infosys-employees-in-stresspromotions-and-increments-may-take-a-hit/articleshow/57095393.cms">V Balakrishnan</a>, had sought a USD 1.8 billion buyback in 2014 just as CEO <keyword id="6369763" type="PERSON" weightage="20" keywordseo="Vishal-Sikka">Vishal Sikka</keyword> was taking over. 
 
"We had raised the issue. We hope that other institutional investors will also raise their voice because the institutional investors have an obligation to protect their investment," he said. 
 
Pai explained that shareholders all over the world ask questions about capital allocation when growth slows down for listed companies, that have too much cash on books. 
 
"All over the world, for listed companies when growth slows down and there is too much cash, shareholders will ask what are they doing with the cash...about capital allocations. Most Boards around the world will respond with a buyback to show confidence in the company and stabilise the stock price," he said. 
 
Pai expressed hope that institutional investors who have a "fiduciary responsibility" to their unit holders, will also ask the same questions, as has been in the case of <a href="http://www.businessinsider.in/infosys-employees-in-stresspromotions-and-increments-may-take-a-hit/articleshow/57095393.cms">Cognizant</a>. 
 Last week, <keyword id="28721" type="CITY" weightage="20" keywordseo="Cognizant">Cognizant</keyword>'s Board approved a plan to return USD 3.4 billion to shareholders over the next two years through share buybacks and dividend, following investor activism. 
 
"Why can't Infosys do something like Cognizant has done. That is very important for shareholders. I hope they ask him that at a time when growth is slowing down," he said. 
 
He said that while reports of the rift would not impact the company's performance but there is "some reputational damage because of this" and pointed out that the board "has to remedy this situation". 
 Over the last few days, Infosys has come under fire from founders like N R <keyword id="6355623" type="PERSON" weightage="20" keywordseo="Narayana-Murthy">Narayana Murthy</keyword> who have publicly raised concerns on alleged corporate governance lapses at <a href="http://www.businessinsider.in/infosys-employees-in-stresspromotions-and-increments-may-take-a-hit/articleshow/57095393.cms">Infosys.</a> 
 
Infosys, however, has denied the allegations and said that its board is fully aligned with the strategic <a href="http://www.businessinsider.in/infosys-employees-in-stresspromotions-and-increments-may-take-a-hit/articleshow/57095393.cms">direction of Sikka </a>and is very "appreciative of the initiatives taken by him in pursuance of this transformation".

Infosys should clarify capital allocation policy: Mohandas Pai tells investors

<keyword id="1716083" type="UNKNOWN" weightage="100" keywordseo="Aditi-Laddha">Aditi Laddha</keyword> from IIT-Bombay has received a top job offer from <keyword id="3911901" type="UNKNOWN" weightage="20" keywordseo="Uber-International">Uber International</keyword> and will be working in the US. 
 
This is the highest job offer made to students across some of the IITs this year. Laddha made news in 2013 when she cleared her JEE (Advanced) with an all-India rank (AIR) of six. 
 
She broke into the male-dominated top 10 ranks of the most competitive entrance exam for undergraduate admissions in the country for the first time along with another girl. 
 Apart from Laddha, Palak Jain and Charmi Dedhia also got hired by <keyword id="6355629" type="CITY" weightage="20" keywordseo="Google">Google</keyword> for India office. 
 
Only a fraction of students from the class manage to get the crore-plus offers every year. Students also argue that the actual package is only little more than the best domestic offer as the cost of living is higher in the US. With restricted work visas, fewer US firms are visiting IITs for the last two years. 
 
(Image: IIT)

Meet Aditi Laddha from IIT-Bombay, who got a job offer from Uber International, the highest one across many IITs

<keyword id="44522" type="CITY" weightage="100" keywordseo="Uttarakhand">Uttarakhand</keyword> is gaining pace in India’s tourism map. It is blessed with the <keyword id="6357202" type="ORGANIZATION" weightage="20" keywordseo="Ganga">Ganga</keyword>, yoga, nature and of course the <keyword id="52569" type="CITY" weightage="20" keywordseo="himalayas">Himalayas</keyword> to lure all kinds of travellers. 
 With new found destinations gaining popularity and several home stays cropping up each day, there lies huge opportunity for travel entrepreneurs to cash in on the in pouring of travellers in the state. So, if you have been planning to begin a resort business in this beautiful <keyword id="6426894" type="PERSON" weightage="20" keywordseo="Himalayan">Himalayan</keyword> state, here’s your time to dig in. 
 However, before you get to it, let us warn you, it is not for the faint hearted. While money is essential, you need to pump in a lot of passion to understand the psyche of your guests and cater to all that they will need during their stay with you. Explaining this is <keyword id="2940782" type="PERSON" weightage="20" keywordseo="Aditi-Balbir">Aditi Balbir</keyword>, a passionate traveller who soon turned it into motivation to become an entrepreneur. She is the CEO and <keyword id="3693943" type="UNKNOWN" weightage="20" keywordseo="founder-of-v-resorts">Founder of V Resorts</keyword>, a company with its chain of resorts across India. 
 
Here are her crucial tips which you must keep in mind when starting your resort in the beautiful hills of Uttarakhand: 
 
(Image credit: <a href="http://www.vresorts.in">V Resorts</a>)

Keep these 7
tips in mind if you plan to start up a resort in the
beautiful hills of Uttarakhand <o:p></o:p>

India had sent its largest contingent ever to <keyword id="1151997" type="UNKNOWN" weightage="20" keywordseo="Rio-Olympics">Rio Olympics</keyword> and the country won two medals-one silver, one bronze-at the sporting extravaganza. 
 As wrestler <keyword id="6356003" type="PERSON" weightage="20" keywordseo="Sakshi-Malik">Sakshi Malik</keyword> and shuttler <keyword id="501707" type="ORGANIZATION" weightage="20" keywordseo="PV-Sindhu">PV Sindhu</keyword> won bronze and silver medals, respectively, other sportspersons such as gymnast <keyword id="406835" type="UNKNOWN" weightage="20" keywordseo="Dipa-Karmakar">Dipa Karmakar</keyword>, marathon runner OP Jaisha, woman golfer <keyword id="546814" type="UNKNOWN" weightage="20" keywordseo="Aditi-Ashok">Aditi Ashok</keyword>, rower <keyword id="3336582" type="UNKNOWN" weightage="20" keywordseo="Dattu-Bhokanal">Dattu Bhokanal</keyword>, etc won hearts. 
 
Our sportspersons did perform well at the Rio Olympics considering the treatment and infrastructure given to the athletes in India. 
 
If our sportspersons can achieve this feat and represent India in Olympics with minimal push given to sports in India, imagine the medals we would bag if other games are taken seriously in the cricket-frenzy nation. 
 
The infrastructure is lacklustre due to the apathy of the officials and this time the world saw it too at the Rio Olympics. 
 
Our officials who went along with the sportspersons acted as villains who did not even think twice about the athletes and had a gala time of their own. 
 
Here are the super villains from India who went to Rio Olympics and brought nothing to the country, but shame. They should learn something about sportsmanship from our athletes. 
 
Take a look

The super villains that accompanied India’s Olympians to party and click selfies in Rio

For India Inc, <keyword id="70846" type="ORGANIZATION" weightage="20" keywordseo="Harvard-Business-School">Harvard Business School</keyword> has Jay Kotak, the elder son of Uday Kotak, senior vice chairman and managing director of Kotak Mahindra Bank, prepares to be attend the coveted Harvard Business School, BI India lists down a five such next gen business leaders who are alumni of this Ivy League School. 
 
Images: Indiatimes.com

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