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<ul><li>Adapt &amp; Rise will now offer free courses to help professionals upskill in 13 roles including business analyst, digital program manager, finance and accounting, human resources and more. </li><li>The course material on the platform can be accessed via web and mobile application. </li><li>Every role-based channel has been prepared with nearly 100 hours of learning material focussing on skills that are common across roles, including artificial intelligence basics, change management, customer experience, design thinking, storytelling etc. </li><li>The new program is in partnership with EdCast, an AI-powered cloud platform that helps to reskill workforces to create a deployment-ready talent pool. </li></ul>Global professional services giant <keyword id="25698" type="CITY" weightage="20" keywordseo="Genpact">Genpact</keyword> today announced that its internal learning programme will now be open to students and professionals globally. Its online learning platform — Adapt &amp; Rise — will now offer free courses to help professionals upskill in 13 roles including business analyst, digital program manager, finance and accounting professional, human resources and more. “Whether it’s a graduating student, a transitioning worker, or a working professional, we at Genpact believe that everyone should have the opportunity to learn from our experience accumulated through thousands of engagements with hundreds of clients,” said Gianni Giacomelli, Chief Innovation leader at Genpact. Giacomelli added that this collective effort will allow people to boost their skills and thereby amplify talent. How to enrol The course material on the platform can be accessed via <a href="https://adaptandrise.edcast.com/log_in?auto_sso=true?utm_source=prrl&amp;utm_medium=nswr&amp;utm_campaign=mult_a_didi_prrl_nswr_cont_na_cxoctv_all_ie-bk_x_all">web</a> and mobile application. The learner can login with their mailing address and enroll for the free learning programme. Alternatively, the same will also be available on the EdCast mobile application. “To access the <keyword id="9422421" type="UNKNOWN" weightage="20" keywordseo="adapt-and-rise">Adapt and Rise</keyword> app, download EdCast and enter adaptandrise.” At present, Genpact’s GENOME programme helps its 90,000 employees upskill across verticals. “Adapt and Rise takes this tested foundation and is now offering it to the public,” the company said. The new program is in partnership with EdCast, an AI-powered cloud platform that helps to reskill workforces to create a deployment-ready talent pool. With the advent of digital technologies, the demand for professionals skilled in emerging technologies has also increased. To cater to the growing demand, every role-based channel has been prepared with nearly 100 hours of learning material focussing on skills that are common across roles, including artificial intelligence basics, change management, customer experience, design thinking, storytelling etc. “Skills that were once seen as nice to have are now critical to succeeding as part of the adaptive workforce required in the digital economy. We aim to enable professional resilience and accelerate adoption of the most critical professional skills and competencies required to succeed in the digital age,” Genpact said. See also: <a href="https://www.businessinsider.in/business/startups/news/paytm-has-a-new-address-a-swanky-building-with-21-floors-multi-level-car-parking-shopping-complex-and-gourmet-restaurants/articleshow/76439295.cms">Paytm has a new address – a swanky building with 21 floors, multi-level car parking, shopping complex and gourmet restaurants</a> <a href="https://www.businessinsider.in/india/news/airasia-plans-to-launch-door-to-door-baggage-service-in-mumbai-to-woo-customers-after-success-in-bengaluru-new-delhi-and-hyderabad/articleshow/76439616.cms">AirAsia plans to launch door-to-door baggage service in Mumbai to woo customers after success in Bengaluru, New Delhi and Hyderabad</a> <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-appeals-supreme-court-to-stagger-spectrum-payments-over-20-years/articleshow/76440420.cms">Vodafone Idea says it’s ‘barely afloat’, appeals Supreme Court to stagger spectrum payments over 20 years</a>

Genpact's internal skill training programme is now open for everyone — and free

A group of third-party content moderators at<a href="https://www.businessinsider.in/tech/news/meta-signs-huge-lease-allowing-it-to-snap-up-33-floors-of-austins-soon-to-be-largest-skyscraper/articleshow/88795758.cms" data-type="tilCustomLink"> Meta</a> (formerly <keyword id="6354576" type="General" weightage="20" keywordseo="facebook" source="Orion">Facebook</keyword>) has reportedly threatened to stop work until their salaries are paid in full. Facebook moderators at an Accenture site in Austin, the US are "facing a payroll disaster that has left many without their holiday paychecks," reports The Verge. In an open letter to the CEOs of <keyword id="399907" type="General" weightage="20" keywordseo="meta" source="Orion">Meta</keyword> and Accenture, they have threatened to halt work. "If these issues are not resolved immediately a work stoppage will be enacted," said the message. According to the report on Tuesday, some workers have received lump-sum payments from the company but not "everyone has received those payments, and many are in desperate financial straits". "Some employees have had to take out payday loans just so they could have enough money to buy food for their children," an unnamed employee was quoted as saying. Facebook did confirm the disruption and said that Accenture has notified its employees of this issue "and is working to resolve it as soon as possible." Accenture said that it has not seen "any indication of coordinated work stoppage at the site". "We recently switched payroll providers and experienced some unanticipated challenges during our first payroll run with the new provider," a company spokesperson told The Verge. "We continue encouraging our people who need assistance to reach out to their supervisor or HR, so we can help them resolve." Facebook hired several firms like Accenture, Cognizant, Genpact and ProUnlimited to help it moderate and remove harmful content in the aftermath of the 2016 US presidential election and Cambridge Analytica data scandal. Accenture reportedly employs more than a third of the 15,000 people whom Meta said it has hired to inspect its posts. Meta had more than 30,000 employees working on safety and security -- about half of whom are content moderators. The social networking giant in May 2020 agreed to pay $52 million to third-party content moderators who developed post-traumatic stress disorder (PTSD) and other mental health issues as they scanned scores of disturbing images of rape, murder and suicide to curb those on the platform. In a preliminary settlement in San Mateo Superior Court, the social networking giant agreed to pay damages to 11,250 US-based moderators and provide more counselling to them, the media had reported. Several moderators had said that they had been diagnosed with PTSD after working for Facebook.

Content moderators for Meta threaten to stop work until paid in full

<keyword id="25698" type="CITY" weightage="100" keywordseo="Genpact">Genpact</keyword> believes that women employees grow sooner and better and also perform leadership roles better. Toeing on the same lines, Genpact is now offering super talented women, who took mid-career break for different reasons, to re-join the company. 
 
Genpact has rolled out an ambitious plan, ‘Career 2.0’, to attract qualified women who have worked in swanky companies in a bid to fill senior levels. 
 
"There are qualified women who perhaps do not know how to make a career comeback. We are more than happy to leverage their talent. Our approach is that through the use of Genpact policies, we give these women flexibility and full-time roles," Piyush Mehta, who leads Genpact's global HR function, told Economic Times. 
 
To revive career of such women, Genpact will offer flexible, customised workdays and plans to hire 30-50 mid-to-senior-level women in various roles this calendar year. 
 
"Some want to work half-a-day, some can't work late in the evening. We want to offer flexibility to this set of super talented women," Mehta told the financial daily. 
ET reported that close to 15 lakh women in India take a mid-career break for some reason or the other, according to estimates. 
 
Mehta added that Genpact also required more women in workforce as it's a business imperative and companies that have women in leadership roles perform better. 
 
“Second, the company believes since women are half the population of the world, it should be the same for companies. Third, the company wants to differentiate itself through Career 2.0 as an employer. We believe we can differentiate ourselves because we have the levers to make it happen," Mehta told ET. 
 
Genpact has 68,000 employees out of which 38% are women. The percentage of women in the top 600 in the company is much lower, at 20%. "This is exactly the challenge we want to deal with. We want to grow Career 2.0 joinees to this level," said Mehta. 
 
Genpact is using social media to reach out to potential hires to ensure it evaluates at least 50% women and doesn't end up interviewing only male candidates for a position. 
 
Besides, the company also ensures that 40% participation of women in leadership development programmes. The 'Genpact operations leadership development' (GOLD) programme focuses on preparing high potential managers for leadership roles and the company leveraged this plan to identify and grow future women leaders for large operating roles. 
 
Meanwhile, the company is also giving its male employees 'unconscious bias' training to make them aware of unconscious biases at the workplace. 
 
(Image: Indiatimes)

For all the super talented women, now restart your career with Genpact

The Indian IT sector is struggling for growth and witnessing few profits, as a result of which the chief executives of many companies took home less bonuses. The CEOs of companies such as <keyword id="25698" type="CITY" weightage="100" keywordseo="Genpact">Genpact</keyword>, <keyword id="6354512" type="CITY" weightage="20" keywordseo="Infosys">Infosys</keyword> and even <keyword id="28721" type="CITY" weightage="20" keywordseo="Cognizant">Cognizant</keyword> saw performance bonuses shrink. For instance, Genpact CEO NV Tyagarajan was paid $700,000 out of a 2016 target bonus of $1.12 million. "Tyagarajan achieved lower-than target performance on both the financial and strategic metrics included in his scorecard. The 48% decrease in Tyagarajan's 2016 bonus compared to his 2015 bonus reflects a decrease in the Company multiplier under the bonus plan from 96% in 2015 to 83% in 2016, the impact of lower-than-target Company performance on achievement of the financial metrics in his scorecard, and lower-than-target performance on the strategic metrics in his scorecard,” stated Genpact. In 2016, Genpact's revenue went up by 6% to $2.57 billion in constant currency terms and the company said that it was no longer guaranteed a minimum amount of business from its former parent General Electric. Cognizant CEO Francisco D'Souza's compensation went down by one-third in 2016. He took home $8.26 million down from close to $12 million in 2015. "For 2017 awards: Revenue reduced to 50% weighting for PSUs to reflect increased Company focus on non-GAAP Operating Margin. Non-GAAP EPS increased to 50% weighting for PSUs; target accounts for $1.5 billion accelerated share repurchase program initiated in March 2017,” Cognizant said in its proxy filing. Infosys CEO <keyword id="6369763" type="PERSON" weightage="20" keywordseo="Vishal-Sikka">Vishal Sikka</keyword> was issued fewer than a fifth of the stock options he was eligible for as part of his compensation. "If the targets were not met, as in the case of Vishal, the compensation came down this year as compared to last year. We just acted on the promise we made to shareholders,” Infosys chairman <keyword id="484178" type="PERSON" weightage="20" keywordseo="R-Seshasayee">R Seshasayee</keyword> told ET.

Not only employees, CEOs of Genpact, Infosys, etc are also taking home fewer bonuses. Here’s why

<ul><li>Global tech CEOs have been voicing their concerns against India’s proposed <keyword id="2617070" type="PERSON" weightage="20" keywordseo="Personal-Data-Protection-Bill">Personal Data Protection Bill</keyword> to looks to localise the data of Indian users. </li><li><keyword id="300740" type="PERSON" weightage="20" keywordseo="Ginni-Rometty">Ginni Rometty</keyword>, the CEO of IBM, and data firms like Cognizant and <keyword id="25698" type="CITY" weightage="20" keywordseo="Genpact">Genpact</keyword> are only the most recent companies to flag the potential issues with the bill. </li><li>CEOs of other global companies like Google, Mastercard, Twitter and Qualcomm also have concerns with how the bill will be implemented. </li></ul>The Indian government has been <a href="https://www.businessinsider.in/gdr-compliant-firms-should-find-it-easy-to-adhere-to-proposed-data-protection-bill-in-india/articleshow/65198854.cms">pushing for data localisation</a> in India but companies around the world have their doubts about its efficiency and clarity. The Draft Personal Data Protection Bill suggests that the personal data of Indian users should be held by digital and global firms within and processed only in India. But, global CEOs have been<a href="https://www.businessinsider.in/groups-of-foreign-companies-are-lobbying-against-indias-personal-data-protection-bill/articleshow/66070718.cms"> making a case</a> for how hindering the free flow of data across borders might have “unintended consequences”. One concern is that the regulations that govern the privacy of data should be able to differentiate between user data and data from businesses. Ginni Rometty, the CEO of IBM, said, “We believe strongly in consumer privacy and you have to be careful to not conflate consumer data issues with business-to-business data issues,” in an <a href="https://economictimes.indiatimes.com/tech/ites/differentiate-between-consumer-biz-data-ginni-rometty-ibm-ceo/articleshow/68384341.cms">interview</a> with the Economic Times on Tuesday. Cognizant and Genpact share a similar view flagging the risks to business-to-business data issues in their <a href="https://economictimes.indiatimes.com/tech/ites/as-government-tightens-data-rules-it-firms-flag-risks/articleshow/68384442.cms">annual filing</a> with the US Securities and Exchange Commission (SEC) this week. Cognizant remarked, “Complying with changing regulatory requirements requires us to incur substantial costs, exposes us to potential regulatory action or litigation, and may require changes to our business practices in certain jurisdictions, any of which could materially adversely affect our business operations and operating results.” Genpact also told the SEC, “Evolving laws and regulations in India protecting the use of personal information could also impact our engagements with clients, vendors and employees in India.” Google’s CEO, Sunder Pichai, <a href="https://www.businessinsider.in/heres-what-sundar-pichai-had-to-say-to-the-indian-government/articleshow/65756506.cms">addressed</a> the issue more directly warning the government of the effect that it may have on the ‘Digital India’ program in the country. 
 <div type="ExtQuote" text="&quot;Free flow of data across borders — with a focus on user privacy and security — will encourage startups to innovate and expand globally and encourage global companies to contribute to India's digital economy.&quot;" auname="Sundar Pichai, Google CEO, in a letter to the Indian IT Minister, Ravi Shankar Prasad, thanking him for his visit to the Google’s Mountain View campus in August 2018"></div>

 <keyword id="44475" type="PERSON" weightage="20" keywordseo="Ajay-Banga">Ajay Banga</keyword>, the president and CEO at Mastercard, <a href="https://economictimes.indiatimes.com/tech/internet/localisation-may-not-ensure-data-security-mastercard-chief-ajay-banga/articleshow/66456945.cms">clarifies</a> that global companies aren’t against data localisation because its makes conducting business more expensive — but because it makes it harder to keep data safe. 
 <div type="ExtQuote" text="&quot;When we talk about our lack of support for data localisation, it is not caused so much by expenses. It is caused by the inefficiency of what that does to the ability to provide safety, security and analytics to India’s banks and merchants.&quot;" auname="Ajay Banga, Mastercard’s president and CEO, said at an investor call in October 2018"></div>

 But, some companies believe that the conversation shouldn’t be about localisation in the first place, but about ownership. <keyword id="265395" type="PERSON" weightage="20" keywordseo="Jack-Dorsey">Jack Dorsey</keyword>, the CEO of Twitter, feels that regardless of whether the data sits in India or outside India, individuals should be the ones with absolute control over their information. 
 <div type="ExtQuote" text="&quot;That's the conversation that I think we need to have rather than where exactly the data sits. It's more about the ownership by the individual.&quot;" auname="Jack Dorsey, Twitter CEO, told IANS"></div>

 Facebook’s deputy chief privacy officer, Rob Sherman, did make an <a href="https://www.thehindubusinessline.com/info-tech/social-media/centralised-platform-needed-for-data-privacy-laws-facebook/article24884483.ece">suggest</a> an alternative approach to the problem of data localisation in India at the panel discussion on ‘Digital lows in the Digital Age’. Rather than localise data, the Indian could put a certification process in place instead where digital companies should fulfill the required standards to ensure protection and privacy rather than set up local servers in India to store Indian users data. But there’s also an <a href="https://telecom.economictimes.indiatimes.com/news/qualcomm-opposes-blanket-rule-on-data-localisation/67414442">argument</a> to be made about how changing technology which, in turn, would make any new regulations obsolete when new technology comes into play. Qualcomm’s president, Christiano Amon, notes, “Certain things can be centralised, certain things can be localised, but you can't really have a rule that mandates this.” Sharing Banga’s concerns about the safety of data Amon said, “A regulation like that instead of helping, prevents a company from becoming competitive and make use of the technology…One possible approach is to make sure that the systems they're using, the data are secure.” 
 <div type="ExtQuote" text="&quot;You have to look at it case by case. Because technology moves faster than regulation, I think it is important to take a very pragmatic view.&quot;" auname="Christiano Amon, Qualcomm President"></div>

 Nasscom and the Broadband Indian Forum have also criticized the Draft Personal Data Protection Bill 2018. Global companies are <a href="https://www.dailypioneer.com/2019/columnists/towards-building-a-digital-future.html">calling</a> for the Bill to be consistent with international best practices outlined in the APEC CBPR rules and the OECD privacy framework. See also: <a href="https://www.businessinsider.in/groups-of-foreign-companies-are-lobbying-against-indias-personal-data-protection-bill/articleshow/66070718.cms">Groups of foreign companies are lobbying against India's Personal Data Protection Bill</a> <a href="https://www.businessinsider.in/gdr-compliant-firms-should-find-it-easy-to-adhere-to-proposed-data-protection-bill-in-india/articleshow/65198854.cms">GDPR compliant firms should find it easy to adhere to draft Personal Data Protection Bill in India</a> <a href="https://www.businessinsider.in/india-plans-on-handing-over-the-reins-of-data-privacy-to-the-telecom-industry-watchdog/articleshow/66416519.cms">India plans on handing over the reins of data privacy to the telecom industry watchdog</a>

Here’s what global tech CEOs have to say about India's data protection laws

<div class="KonaFilter image-container display-table"><div><div class="image on-image">David J. Phillip/AP Images"This was a difficult decision that affects friends and associates we care about deeply," a Walmart spokesperson told Business Insider.</div></div></div><ul class="summary-list"><li><a href="https://www.businessinsider.com/category/walmart" target="_blank" rel="noopener">Walmart</a> is laying off close to 600 employees from its corporate office in Charlotte, North Carolina.</li><li>The laid-off accounting and finance employees will be let go between September 2019 and March 2020.</li><li>"As our company continues evolving, we've said we must strike the right balance between managing the needs of our business, our associates and our customers," a <a href="https://markets.businessinsider.com/stocks/wmt-stock" target="_blank" rel="noopener">Walmart</a> spokesperson told Business Insider.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></li></ul>Walmart's corporate office in Charlotte, North Carolina, will let go of nearly 600 employees between September 2019 and January 2020.<a href="https://www.retaildive.com/news/walmart-to-lay-off-nearly-600-finance-workers/557086/">Retail Dive</a> first reported that Walmart will lay off 569 finance and accounting employees and instead turn to the services of New York-based Genpact. Genpact, a one-time spinoff of General Electric that went independent in 2005, is a publicly traded professional-services firm."This was a difficult decision that affects friends and associates we care about deeply," a Walmart spokesperson told Business Insider. "We appreciate their important contributions, and we're committed to handling every transition over the next seven months smoothly and respectfully."A <a href="https://files.nc.gov/nccommerce/documents/files/Warn2019_1.pdf" target="_blank" rel="noopener">Worker Adjustment and Retraining Notification</a> for North Carolina said that these layoffs will be effective on September 13, 2019. But Walmart isn't shuttering its Charlotte location. A Walmart US regional office will still operate at that location, which will also continue to house the company's human resources-oriented "people solutions" department. Read more: <a href="https://www.businessinsider.com/walmart-amazon-hq2-show-differences-2019-5" target="_blank" rel="noopener">Walmart's move to a new headquarters highlights just how different it is from Amazon</a>Affected employees learned of the news last week. A spokesperson said that employees would have anywhere from three to seven months to transition, and that the company would help workers interested in remaining with Walmart to find positions within its stores, clubs, and corporate offices.Walmart finance and accounting employees who remain throughout the transition period will receive a retention payment, and, once the layoffs occur, a severance package.According to a Walmart spokesperson, employees will be able to access outplacement services, including résumé and interview training sessions, career counseling, and a number of job fairs."As our company continues evolving, we've said we must strike the right balance between managing the needs of our business, our associates and our customers," the spokesperson said in a statement to Business Insider. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/walmart-prime-shipping-amazon-perk-delivery-retail-online-shopping-2017-2">Walmart undercut Amazon's most valuable perk</a></h3> <div> </div> </div>

Walmart will lay off around 600 corporate employees starting in September

Referral systems are slowly becoming companies’ favourite way of hiring new people, since it involves asking its own employees to recommend candidates, making sure that only worthy candidates appear for the interview. In turn, employees get rewarded. 
 A majority of Indian companies are now using top technology for referral hires, since it involves lesser time and also increases employee’s sense of belongingness with the company. "Nearly 55% of talent leaders see <keyword id="2813966" type="UNKNOWN" weightage="100" keywordseo="employee-referral-programmes">employee referral programmes</keyword> as the top source of quality hire," Irfan Abdulla, director, talent solutions, LinkedIn India, told ET. 
 
Top companies going the referral way for hiring include Coca-Cola, Infosys, Genpact, Capgemini, Deloitte, and Jubilant etc, with the mentioned names reporting hiring over 40% of their workforce through referrals. 
 
When it comes to rewarding employees for successful referrals, companies are paying more to employees who recommend more women for roles, which also helps in bridging the gender gap in company’s workforce. 
 
For example, Capgemini has launched 'recruitHER' for employees to upload profiles of female candidates to be eligible for a lucky draw. Coca-Cola also boasts of 31% women associates since they place a 15-20% premium on female candidates that get hired through referrals. 
 
While some companies pay referrals in terms of cash, there are some companies that like to give out gifts like kindles and external hard disks in case employees refer someone who makes it to the workforce. 
 
<a href="http://www.hallmarkpersonnel.com/files/2015/04/Employee-Referral-Photo.jpg">Image source</a>

A friend in need! Hiring via employee referrals is the new favourite in top companies

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Associated PressFacebook CEO Mark Zuckerberg.</div></div></div><ul class="summary-list"><li>Cognizant, a professional services firm whose employees moderate <a href="https://businessinsider.com/category/facebook">Facebook</a> content, will end its services next year.</li><li>Employees tasked with moderating Facebook content reportedly worked under nightmarish conditions exposed by a series of investigations <a href="https://www.theverge.com/2019/2/25/18229714/cognizant-facebook-content-moderator-interviews-trauma-working-conditions-arizona">published by The Verge earlier this year</a>.</li><li>According to the investigations, content moderators were expected to sift through graphic violence, hate speech, and sexually explicit posts for $15 per hour, and many said they suffered psychologically. </li><li>Cognizant is just one of many third-party contractors across the US who <a href="https://www.businessinsider.com/mark-zuckerberg-sheryl-sandberg-facebook-cognizant-content-moderation-center-2019-6">moderate content for Facebook</a>. </li><li><a href="https://businessinsider.com">Visit Business Insider's homepage for more stories.</a></li></ul>Cognizant, a firm that Facebook pays to moderate content on the social media platform, will cut its content moderation services next year, Facebook confirmed Thursday morning.A series of investigations published by <a href="https://www.theverge.com/2019/2/25/18229714/cognizant-facebook-content-moderator-interviews-trauma-working-conditions-arizona">The Verge</a> and the <a href="https://www.tampabay.com/narratives/2019/08/21/these-tampa-workers-see-disturbing-facebook-posts-so-you-dont-but-it-takes-a-toll/">Tampa Bay Times</a> earlier this year uncovered the brutal working conditions that Cognizant employees faced at content moderation centers in Tampa and Phoenix. Employees were reportedly paid $15 per hour to sift through depictions of graphic sex and disturbing violence uploaded to Facebook, which many said was psychologically traumatic.In addition, working conditions at the content moderation centers were reportedly dismal, with reports of rampant sexual harassment and stressful productivity requirements. According to The Verge's report, employees turned to doing drugs on the job just to cope with the stress.Facebook confirmed that Cognizant is ending its contract in a statement to Business Insider. The social network said it will increase the number of content moderators working at a review site in Texas operated by Genpact, a different contractor. "We respect Cognizant's decision to exit some of its content review services for social media platforms. Their content reviewers have been invaluable in keeping our platforms safe - and we'll work with our partners during this transition to ensure there's no impact on our ability to review content and keep people safe," Arun Chandra, Facebook's vice president of scaled operations, said in a statement.Cognizant's withdrawal from moderating Facebook content will result in approximately 6,000 jobs being cut, according to <a href="https://www.reuters.com/article/us-cognizant-tech-results/facebook-contractor-cognizant-to-exit-content-moderation-business-idUSKBN1X92HL">Reuters</a>.A Cognizant spokesperson was not immediately available to respond to Business Insider's request for comment. In an email to employees obtained by the <a href="https://www.tampabay.com/news/2019/10/31/cognizant-ending-content-moderation-for-facebook-may-cut-tampa-jobs/">Tampa Bay Times</a>, CEO Brian Humphries wrote that Cognizant "determined that this subset of work is not in line with the company's strategic vision." <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/watch-google-pixel-4-event-in-12-minutes-2019-10">Watch Google's Pixel 4 event in 12 minutes</a></h3> <div> </div> </div>

The company behind Facebook's nightmarish moderation center in Florida has canceled its contract with the social network

Hyderabad, Despite the economic slowdown caused by the Covid-19 pandemic, <keyword id="68884" type="PERSON" weightage="20" keywordseo="Telangana">Telangana</keyword> is focusing on the expansion of the <keyword id="617811" type="PERSON" weightage="20" keywordseo="information-technology-sector">information technology sector</keyword> to further strengthen its standing as a leading global technology destination. It is not only setting up <keyword id="763883" type="PERSON" weightage="20" keywordseo="IT-parks">IT parks</keyword> in tier-II cities but within Hyderabad, it is taking up initiatives to ensure the expansion of the sector in all corners of the city. For over two decades, the IT presence in Hyderabad was confined to Madhapur and Gachibowli clusters in the western part of the city and it is only in recent years that few companies started their operations in the east. The state government has now drawn up ambitious plans to take the IT growth to all corners of the city. Under the GRID (Growth in Dispersion) policy of the state government, as many as 11 industrial parks within Outer Ring Road (ORR) limits will soon be converted into IT parks. This week, the authorities issued detailed guidelines pertaining to the zones, incentives, and <keyword id="1088961" type="PERSON" weightage="20" keywordseo="government-support">government support</keyword> for the conversion. The IT towers will come up in industrial parks at Balanagar, Kukatpally, Moula Ali, Mallapur, Patancheru, Katedan, and Sanatnagar, covering all corners of the city excluding the west. This followed the government's order to all polluting industries within the ORR to shift outside it. Non-polluting industries were also given the option to shift. Officials say the conversion of industrial parks into IT Parks will improve the elevation and the quality of living in the city. Home to 1,500 IT/ITES companies including global majors Microsoft, Google, Facebook, Apple, <keyword id="18635" type="COMPANY" weightage="20" keywordseo="Amazon">Amazon</keyword>, and nearly six lakh employees, Hyderabad is recognized as one of the leading Information Technology hubs globally. The new initiatives including GRID are expected to help achieve the state government's vision to increase the IT exports to $25 billion (₹1,87,000 crore) by 2025. The officials said the government embarked on dispersion as there is a resurgence of interest among the global investor's community, due to the state's investor-friendly and proactive policy measures. It is estimated that about 30% of the IT talent pool resides in the eastern part of the city and commutes to western IT Corridor on a daily basis. Similarly, a large part of the IT workforce resides in the northern parts of the city including Kompally, Bahadurpally, Bachupally, and Dundigal. This has led to overall city congestion and an increase in commuting time for IT employees. Dispersing the IT sector will not only decongest the western corridor and reduce the infrastructural burden but also makes it convenient for the IT workforce to commute to work and reduce the transportation burden on the IT companies. This is part of the objective to make Hyderabad the most preferred technology investment destination in the country and to attract niche segments that are fast emerging and evolving new verticals in technology sectors. The IT, Electronics and Communications Department has announced various incentives for units, anchors, developers, infrastructure development and institutional measures, and branding and promotional activities. The IT and ITeS units coming up in the industrial parks would be eligible for GRID benefits like an additional power subsidy of ₹2 per unit on the industrial power tariff on a reimbursement basis for a period of five years, with the total incentive for the unit not exceeding ₹5 lakh per year. According to the Government Order, the units will also get a lease rental subsidy of 30% for a period of five years with the total subsidy for the unit not exceeding Rs 10 lakh per year. The department announced concessions on land conversion for industrial lands under the Telangana State <keyword id="418609" type="DOMAIN" weightage="20" keywordseo="Industrial-Infrastructure">Industrial Infrastructure</keyword> Corporation (TSIIC) or industrial area local authorities that are converted to IT or ITES use. The developer has to utilize a minimum of 50 of the total built-up area for IT purposes. The remaining 50% can be utilized for non-IT use including commercial and residential use. In addition to converting industrial parks into IT parks, the government will also build an IT park at Kompally in the northern part of the city and another facility at Kollur or Osmannagar in the north-western part of the city. The government chose the areas for creating IT parks based on representations from various players. The eastern part of the city already has NSL IT Park, Genpact, Infosys, and others. Minister for Information Technology and Industry K. T. Rama Rao in July announced that the government permitted the conversion of five industrial parks into IT parks in east Hyderabad. In these five parks, IT firms will be set in about 25 lakh square feet which will create employment opportunities to 30,000 employees. He handed over conversion letters to the five companies. Hyderabad Distilleries and Wineries Limited's IT park will come up at IDA-Uppal over 12.40 acres. Minacto Chem will set up another park in the same area over 2.66 acres. Swamy Soaps and Oils Pvt Limited's park will also come up in IDA-Uppal over 2 acres. Gokuldas Exports Ltd's Mini Textile Park will set up an IT park in Nacharam over 8.93 acres while Bakelite Hylam Limited's facility will come up at IDA, Nacharam over 8 acres. The minister says that Hyderabad has no geographical hurdles and has the scope to develop in all the corners. Telangana clocked over Rs 1.28 lakh crore of IT exports during 2019-20, a growth of nearly 18% over the previous year. The growth rate was more than double the national average of 8.09% and more than two-and-a-half times the rest of the nation's average of 6.92%. The share of Telangana in overall IT exports from India went up from 10.61% to 11.58%. The number of jobs in the IT sector in the state went up from 5,43,033 to 5,82,126, a growth of 7.20% compared to the national average of 4.93%. This growth was registered despite the onset of the Covid-19 during the last quarter of 2019-2020. The Compounded Annual Growth Rate (CAGR) for IT exports for the last six years is 14.46%. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/dos-and-donts-during-solar-eclipse-surya-grahan/articleshow/76436997.cms">The do’s and don’ts of a Solar Eclipse — here what you need to know to protect yourself</a> <a href="https://www.businessinsider.in/science/space/news/solar-eclipse-december-2020-time-date-everything-you-need-to-know/articleshow/79697355.cms">The total solar eclipse and its 'diamond rings' won't be visible in India on December 14</a>

Industrial parks conversion into IT parks to further boost Hyderabad

<ul><li>The Reserve Bank of India (<keyword id="30067" type="ORGANIZATION" weightage="20" keywordseo="RBI">RBI</keyword>) has announced a set of measures to pump more liquidity into the economy, especially for small and medium businesses. </li><li>In addition to extending ₹50,000 crore to government institutions, RBI also changed the rules of classifying assets. </li><li>This means that even if a small company can’t meet its payments, it won’t be degraded. </li><li>However, there’s a catch. </li></ul> The lockdown has been tough on the economy, and the problems of big corporations have taken the spotlight. However, according to the Reserve Bank of India (<a href="https://www.businessinsider.in/india/news/rbi-governor-shaktikanta-das-speech-highlights-on-april-17/articleshow/75193359.cms">RBI</a>), the disruption has had a more severe impact on small and medium-sized businesses. While these businesses need more lending, those who generally lend to them - non-banking financial companies (NBFCs) and microfinance institutions (MFIs) - have been stressed for over a year. Apart from extending ₹50,000 crore to government institutions that will pass it on to shadow banks, RBI also changed the rules of classifying assets. It extended the period for the resolution plan of stressed assets by 90 days from 60 days currently. It means shadow banks or NBFCs will get a breather, as they have been facing a credit crunch of their own as fewer banks were lending to them ever since IL&amp;FS went into a crisis of <keyword id="142154" type="PERSON" weightage="20" keywordseo="bad-loans">bad loans</keyword>. <keyword id="2377116" type="PERSON" weightage="20" keywordseo="asset-classification">Asset classification</keyword> standstill During its first set of relief measures announced on March 27, the central bank said that payment on loans will be deferred for the next 90 days — from 1 March to 31 May. That meant that they would not turn into non-performing assets (NPAs). But that didn’t necessarily mean that they wouldn’t be ‘reclassified’ for missing their payments. Today, April 17, <a href="https://www.businessinsider.in/india/news/rbi-governor-shaktikanta-das-speech-highlights-on-april-17/articleshow/75193359.cms">RBI governor Shaktikanta Das clarified</a> that the 90-day NPA norm shall exclude the moratorium period. This means that asset classification will be halted for all such accounts from 1 March 2020 to 31 May 2020. Even if a small company can’t meet its payments, it won’t be degraded. “The market should consider this favourably as this will ease liquidity and credit classifications issues,” said Rajosik Banerjee, a partner and head of financial risk management at KPMG India. But there’s a catch Just because a bank does not call it a bad loan does not mean that it isn’t heightened risk. In order to balance that out, banks are now required to maintain sufficient buffers. This means that they have to maintain a higher provision of 10% on all such accounts under the standstill, which will be spread out over the coming two quarters. “NBFCs that are now required to report under Ind AS, will have to take this into account while performing their expected credit loss calculations, together with the positive effect of all other governmental support measures targeted directly at the borrowers, whether, retail or corporate,” said Sai Venkateshwaran, partner and head of CFO advisory at KPMG India. “This will remain an area of key judgement for NBFCs, and will have a direct impact both on their earnings as well as their lending ability,” he explained. To further address the problems faced by small and medium businesses, the RBI announced a slew of measures to ease their liquidity crunch — like targeted long-term repo operations (TLTRO), refinancing facilities for All India Financial Institutions (AIFIs), and a reduction of the reverse repo rate. A welcome immediate relief not only to these institutions but also to their borrower base,” said Sanjay Doshi, head of Financial Services Advisory at KPMG India. See also: <a href="https://www.businessinsider.in/india/news/rbi-governor-shaktikanta-das-speech-highlights-on-april-17/articleshow/75193359.cms">RBI Governor opens up a ₹50,000 crore lifeline to flailing small businesses</a> <a href="https://www.businessinsider.in/business/corporates/news/exclusive-genpact-puts-over-200-employees-in-india-on-the-bench-hoping-to-find-them-a-role/articleshow/75198685.cms">EXCLUSIVE: Genpact puts over 200 employees in India ‘on the bench’ – hoping to find them a role</a> <a href="https://www.businessinsider.in/defense/news/the-us-accuses-china-of-conducting-nuclear-tests-after-blaming-it-for-the-covid-19-pandemic/articleshow/75198330.cms">The US accuses China of conducting nuclear tests after blaming it for the Covid-19 pandemic</a>

The road to being classified a bad loan just got longer with RBI’s relaxation

Microsoft CEO Satya <keyword id="2045946" type="PERSON" weightage="20" keywordseo="Nadella">Nadella</keyword> is on a three-day visit to India to share his vision of the <keyword id="2059551" type="PERSON" weightage="20" keywordseo="future-of-technology">future of technology</keyword>. Indian CEOs are Nadella’s primary audience and he has fireside chats lined up to deliberate on how technology will shape the world in the years to come. Nadella could also meet PM <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword>, and interestingly, his visit coincides with that of Trump, who <a href="https://www.businessinsider.in/india/news/day-one-of-donald-trumps-india-visit-these-are-all-the-highlights/articleshow/74277019.cms">arrived in India</a> just a few hours ago. During the opening keynote at the Future Decoded CEO Summit, 2020, Nadella listed out how Indian companies are using Microsoft products to streamline their businesses. Here’s a quick snapshot of what he said: Piramal Glass implements RTMI 
 <div type="image" title="Parimal Glass" msid="74282946" hostid="261"></div>



 Piramal Glass, one of the leading manufacturers of glass packaging for pharmaceuticals, cosmetics and the beverage industry started implementing Real Time Manufacturing Insights (RTMI). The company has used IoT sensors in its production line to get a feedback loop for quality control. IoT sensors are connected to the cloud; and alerts are sent via SMS, email, and push notifications when an anomaly is detected, or the production efficiency drops. Reliance Industries uses Microsoft products across industries 
 <div type="image" title="Reliance Industries" msid="74282940" hostid="261"></div>



 Reliance Industries is using Microsoft’s products to develop its platforms from diverse industries like network to retail. The company is using Azure Cloud in their own data centres for developing stack, LinkedIn for improving learning, hiring practices and more. Apollo Hospitals is using AI and ML develop a localised cardiac risk score 
 <div type="image" title="Apollo Hospitals" msid="74282933" hostid="261"></div>



 Apollo Hospitals has teamed up with Microsoft to use machine learning for developing artificial intelligence powered cardiovascular disease risk score. This has helped Apollo Hospitals develop a non-biased cardiac risk score for Indian population. Apollo Hospital’s senior consultant for interventional cardiology, Dr Shiv Kumar has said that this score is twice as accurate as the existing models. State Bank of India builds a frontline sales app 
 <div type="image" title="SBI" msid="74282932" hostid="261"></div>



 After two employees of SBI’s Trivandrum branch took the initiative to build a Power app to help their frontline salespeople, State Bank of India has rolled out this application to more than 200 branches. Myntra uses Azure for supply chain management 
 <div type="image" title="Myntra" msid="74282930" hostid="261"></div>



 Fashion and lifestyle portal Myntra has migrated to Azure for all its functions – from supply chain management to site capabilities. By centralizing its data platform, Myntra is applying advanced analytics and machine learning to understand customer preferences and provide personalized products and marketing. Myntra is also using Microsoft Power BI to allow its employees to act on real time feedback to provide a better customer experience. InMobi uses Azure to get a 360-degree view of customers 
 <div type="image" title="InMobi" msid="74282922" hostid="261"></div>



 Bengaluru based enterprise platform provider InMobi partnered with Microsoft to use Azure as the company’s preferred cloud provider. The company via its InMobi Marketing Cloud enables marketers get a 360-degree view of customers. The insights will help design customer journey; analyses and acts on customer feedback across channels. Udaan uses Azure for a lean engineering setup 
 <div type="image" title="Udaan" msid="74282915" hostid="261"></div>



 Udaan, which is one of India’s largest online B2B marketplace, has been running on the Azure platform since the beginning. The company’s co-founder, Amod Malviya, credits Azure for allowing the company to have an extremely lean engineering setup. Project HAMS uses camera sensors to ensure driver safety 
 <div type="image" title="Project HAMS" msid="74282905" hostid="261"></div>



 Indian cab aggregator is currently looking to implement Microsoft’s Project HAMS (Harnessing AutoMobiles for Safety). Project HAMS uses a smartphone’s rear camera, selfie camera and accelerometer to ensure that the driver is driving safely. The company may also use this to decide whether to lease a car to someone or not. Eros Now uses AI to learn how its users interact 
 <div type="image" title="Eros Now" msid="74282900" hostid="261"></div>



 Eros Now has built its media production facility on Azure. The company is also using AI to change how users interact and improve voice search for video content. Eros has also created an engine to offer personalized recommendations to users. Narayana Health uses Power BI to optimize its costs 
 <div type="image" title="Narayna Health" msid="74282884" hostid="261"></div>



 The Narayana Health group is using analytics tools like Power BI dashboards to get real-time financial information from its hospitals. It also uses these tools to monitor and analyse nurse hours, daily. Power BI tools have also helped in optimizing costs for reducing turn-around time for labs, monitoring costs of consumables, predicting blood requirement and overall reduction in costs to patients. Royal Enfield uses Dynamics 365 to maintain service histories and job cards 
 <div type="image" title="Royal Enfield" msid="74282876" hostid="261"></div>



 Royal Enfield has used Microsoft Dynamics 365 to implement a Dealer Management System that allows the salesmen to maintain a customer’s profile. A similar system is used at service centres to view service histories and create new job cards for vehicles. Eureka Forbes uses Dynamics 365 for marketing 
 <div type="image" title="Eureka Forbes" msid="74282870" hostid="261"></div>



 Water purifier Eureka Forbes implemented Dynamics 365 in the back end to provide digital leads and customer insights to salespeople. The company uses a cloud-based SaaS model for front-end apps that allow the salespeople to access the water quality of a particular area and select the right product to sell. Novartis India, Sterlite Power and Genpact have been using LinkedIn to improve learning, recruiting and marketing practices in the companies. Mindtree and Mahindra Group are using Microsoft Teams for communication and collaboration within the organisations. See also: <a href="https://www.businessinsider.in/business/corporates/news/microsoft-top-boss-satya-nadellas-conversation-with-mukesh-ambani-asias-richest-man/articleshow/74278962.cms">Microsoft top boss Satya Nadella's conversation with Mukesh Ambani, Asia's richest man</a> <a href="https://www.businessinsider.in/tech/enterprise/news/as-microsoft-makes-one-its-fastest-growing-cloud-software-businesses-available-for-government-it-will-ramp-up-pressure-on-rivals-like-salesforce-analysts-say/articleshow/74259902.cms">As Microsoft makes one its fastest-growing cloud software businesses available for government, it will ramp up pressure on rivals like Salesforce, analysts say</a>

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