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New Delhi, Feb 13 () Senior bureaucrat Rajiv Bansal was on Thursday appointed as the chairman and managing director (CMD) of Air India, according to a Personnel Ministry order. Bansal, a 1988-batch IAS officer of Nagaland cadre, is at present additional secretary in the ministry of petroleum and natural gas. The Appointments Committee of the Cabinet has approved his appointment as chairman &amp; managing director, Air India in the rank and pay of additional secretary, the order said, without mentioning further details. The post became vacant after incumbent Ashwani Lohani completed his tenure. AKV AKV SMNSMN

Rajiv Bansal appointed Air India chief

(Eds: Adds details) New Delhi, Feb 13 () After successfully heading Air India for three months in 2017, senior bureaucrat Rajiv Bansal was on Thursday appointed for the second time as the chairman and managing director of the debt-ridden national carrier, according to a Personnel Ministry order. Bansal, a 1988-batch IAS officer of Nagaland cadre, is at present additional secretary in the Ministry of Petroleum and Natural Gas.The Appointments Committee of the Cabinet has approved his appointment as the CMD of Air India in the rank and pay of additional secretary, the order stated, without mentioning further details.He replaces Ashwani Lohani, who completed his one-year extended tenure on Thursday. Bansal was in August 2017 named as Air India's interim CMD for three months. He had then replaced Lohani, who was appointed chairman of the Railway Board after completion of his two-year stint. During Bansal's three-month tenure, Air India launched services to Copenhagen, among others. He also initiated various steps to reduce costs and improve on-time performance of flights.Lohani, a 1980 batch officer of the Indian Railway Service of Mechanical Engineers, was in February last year appointed Air India's CMD for the second time for a one-year tenure. He had retired as the Railway Board chairman in December 2018. The appointment assumes significance as it comes days after the government decided to sell its stake in Air India, which has a debt pile of over Rs 60,000 crore.As part of the ambitious strategic disinvestment, the government had on January 27 issued the preliminary bid document for 100 per cent stake in the debt-laden airline. AKV IAS KJ

'Homecoming' for Rajiv Bansal as Air India CMD

Ex-colleagues of <a href="http://businessinsider.in/searchresult.cms?query=Rajiv+Bansal&amp;sortorder=effectivedate">Rajiv Bansal</a>, who quit his position as CFO of India's largest ride-hailing app <a href="http://businessinsider.in/searchresult.cms?query=Ola&amp;sortorder=effectivedate">Ola</a>, think that he was a misfit in the company and made things difficult. 
 Some of the employees feel that under Bansal, the <keyword id="4177046" type="UNKNOWN" weightage="20" keywordseo="finance-team">finance team</keyword> at <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword> created processes that had the inadvertent effect of slowing down operations. 
 
"He (Bansal) is to the point, means business - a transaction-oriented person rather than one who cultivates relationships," one person familiar with his working style at Ola told ET. 
 He was also termed as a boss who was difficult to deal with by many <keyword id="3295800" type="UNKNOWN" weightage="20" keywordseo="Ola-employees">Ola employees</keyword>. 
 
"He could be a tough boss," an employee who had worked with him at Ola told ET. 
 
Some of the Ola employees think that Bansal made things difficult and processes long. 
 
"If one set of clearance was needed, they (Bansal's finance team) increased it to four. This increased confrontations in the (Ola) office across departments, and many threatened top management that it is either us or them," an Ola executive, told ET. 
 
However, as per the industry experts, this is after all, what a CFO is tasked to do i.e. ask tough questions of the CEO.

Was former CFO Rajiv Bansal not fit for Ola? His ex-colleagues think so

India's second largest software exporter <keyword id="6354512" type="CITY" weightage="80" keywordseo="Infosys">Infosys</keyword> would aim to return to industry-level growth rates by financial year 2017, if it manages to reach 10-12% <keyword id="6492838" type="UNKNOWN" weightage="80" keywordseo="revenue-growth">revenue growth</keyword> forecast this year, said the company’s chief financial officer <keyword id="347003" type="PERSON" weightage="80" keywordseo="Rajiv-Bansal">Rajiv Bansal</keyword>. 

	While attending an investor meet in Bengaluru on Thursday, Bansal said, the company would touch industry-level growth rates if it puts up a good show this year as compared to last year, when it grew at a meager 5.6%. 
 “When Mr Murthy came back (in 2013), we clearly said that we would take 3 years to get back to <keyword id="2896835" type="UNKNOWN" weightage="80" keywordseo="industry-level-growth-rate">industry-level growth rate</keyword> -- and that will be FY17," said Bansal. 

	"If 5.6% goes upto 10-12%, then next year we should see industry-level growth rates....I think we're on the right trajectory -- once we reach that 10-12% mark, I think it will give us a lot of confidence to touch industry-level growth rates," he added.
 Recently, Infosys has created a special team looking specifically at mergers and acquisitions, said UB Pravin Rao, the chief operating officer of the Bengaluru-headquartered IT firm. In 2014, Infosys hired former SAP executive <keyword id="2558261" type="UNKNOWN" weightage="60" keywordseo="Ritika-Suri">Ritika Suri</keyword> to lead <keyword id="101447" type="EVENT" weightage="80" keywordseo="MA">M&amp;A</keyword> for the company. 

	Moreover, Infosys expects acquisitions can bring in additional revenues of about $1.5 billion as the IT services behemoth aims to achieve a goal of generating $20 billion by 2020.
 

	"We have created a separate team looking at it -- a corporate development team looking at M&amp;A," said Rao.
 Ever since Suri joined Infosys, the company has pulled off two large acquisitions -- in January, it bought over Israel-based automation technology startup <keyword id="2728667" type="UNKNOWN" weightage="80" keywordseo="Panaya">Panaya</keyword> for $200 million, while in April, Infosys acquired eCommerce service provider <keyword id="2822352" type="UNKNOWN" weightage="80" keywordseo="Skava">Skava</keyword> for $120 million. 

	Infosys would aim to keep margins in the 25-26% range for the near term, depending on currency fluctuations, said Bansal.

	 
	 
	(Image: Reuters)

Infosys sees industry-level growth in FY17, if it meets 10-12% revenue growth that is

New Delhi, Mar 2 () Infosys on Monday said it has paid Rs 6 lakh as compounding fees in the matter related to severance agreement with former CFO Rajiv Bansal. In November last year, Infosys (along with certain current and former key managerial personnel) submitted applications with the Registrar of Companies for compounding of certain alleged offences that pertain to matters related to the severance agreement executed with Bansal in October 2015. Generally, compoundable offences are those which can be settled by paying certain amount of money. Through the compounding process, it had sought to resolve the alleged offences. "The Regional Director (South East Region) vide its orders dated February 25, 2020, (received on March 2, 2020) has agreed to compound the alleged offences applied for, subject to payment of compounding fees of Rs 6 lakh..." Infosys said in its filing on Monday. It added that these compounding fees have been paid. The fee of Rs 6 lakh consists of Rs 1.5 lakh in respect of each application for each alleged offence by the company and Rs 25,000 by each of the current and former key managerial personnel for each alleged offence, the filing said. In its application, Infosys had sought to resolve the alleged offence relating to the company not seeking prior and separate approvals required under the Act from the Nomination and Remuneration Committee, Audit Committee and the Board of Directors and not making requisite disclosures. Infosys had agreed to pay Bansal a severance amount of Rs 17.38 crore or 24 months of salary, but the company suspended payments after he got Rs 5 crore as co-founder N R Narayana Murthy and others objected to the package as excessive. Bansal's severance payout has been one of the contentious issues Infosys founders had raised to allege governance lapses at the Bengaluru-based firm. SR NKD HRS

Infosys pays Rs 6 lakh in compounding fees to settle ex-CFO severance payment row

<keyword id="3516500" type="UNKNOWN" weightage="20" keywordseo="indian-IT-ministry">Indian IT Ministry</keyword> is making all efforts to make domain name-‘.in’- popular among startups and other organisations by invoking nationalism. 
 
The ministry will be floating an advertising campaign, asking domain name seekers to ditch popular ‘.com’ and adopt ‘.in’. 
 
The Ministry of Electronics and IT (MEIT) is planning a massive advertising campaign aimed at companies, individuals and startups. 
 
Rajiv Bansal, joint secretary in MEIT, told ET the campaign should be ready for rollout in a month or so and will play on the people's nationalist sentiments to nudge them to host their website on the ‘.in’ domain name. 
 The ‘.in’ domain name will also boost Prime Minister Narendra Modi’s <keyword id="1929810" type="UNKNOWN" weightage="20" keywordseo="Digital-India">Digital India</keyword>, <keyword id="6354869" type="UNKNOWN" weightage="20" keywordseo="make-in-India">Make in India</keyword> and Start-up India campaigns. 
 
As per reports, the ministry has a target to increase the number of '.in' domain names to 3 million by March next year. Presently, the number is at 2 million. 
 Apart from the ad campaign, the ministry is also planning to tie up with the Corporate Affairs Ministry and MSME to offer discounts to startups or new businesses registering with them for <keyword id="3516498" type="UNKNOWN" weightage="20" keywordseo="-in-domain-name">.in domain name</keyword>. 
 
"The proposal includes offering some kind of a discount - perhaps a new domain registration for Rs 150 or Rs 200 - to attract new businesses," Bansal told ET. 
 
Meanwhile, the National Internet Exchange of India (NIXI) is also mulling to get '.bharat' domain for Hindi website extension complementary with the .in domain to popularise its use. 
 
"As a promotional scheme, NIXI will be offering the '.bharat' domain name in Hindi complementary to select businesses or categories from this month," Bansal told ET. 
 
Last year, NIXI had run an advertisement campaign with 22-24 seconds advertisements targeted at small and medium businessmen and entrepreneurs.

Indian IT Ministry is going to invoke nationalism which will make you ditch ‘.com’ and adopt ‘.in’ right now

(Eds: Releasing overnight story) Mumbai, Apr 9 () Air India chief Rajiv Bansal on Thursday said that the "crippling effect" of coronavirus has further plummeted the airline's finances to a "precarious" position but despite that, it has managed to keep afloat. Bansal, in a message on Thursday, also assured the employees of providing all the "essential armoury" in carrying out evacuation and chartered flights amid the pandemic. "Air India has been passing through a critical financial condition much before the Covid19 onslaught. The crippling effect of the pandemic, especially in the aviation sector, has further plummeted our finances to a precarious position. In spite of this, your airline has left no stone unturned to continue to remain afloat," Bansal said in a message to Air India employees on Thursday. Reminding the employees that the organisation is always with them during these trying times, he said, their safety and health are as important to the company as of its passengers. "We are leaving no stone unturned to ensure you get all the essential armoury to fight this war. Our dedicated medical services team members are available round the clock for any consultation, advice or emergency. We are doing everything possible to minimise risk factors," Bansal said. Besides taking all the precautionary measures and providing PPE to ensure your safety, Air India was amongst the very few airlines in the world, who are providing hazmat suits and other protective equipment for its crew to equip them to face any COVID-related safety concern onboard, he said. It was the first carrier to evacuate stranded Indian nationals from Coronvirus-hit Wuhan in China in January. It is due to these precautionary measures that so far, only one of the airline's crew members amongst so many, who have been flying our charter flights all over the world, has tested COVID positive, he added. "I am relieved to inform you that she has also been discharged after full recovery under the watchful eyes of our medical department," Bansal said. In recent weeks, Air India has operated flights to Israel, Germany and London, using its wide-body Boeing 777s and B787s. These services were mainly to carry foreign nationals stranded in the country due to the lockdown, which began on March 25. Stating that all of us in Air India, no doubt, are in this war together, Bansal said, "Adversity brings the best out of us and is a litmus test of our courage and strength of character. This is also the time to show how much we care for one another." IAS MR HRS

Coronavirus deteriorates Air India finances but airline manages to keep afloat, says chief

Mumbai, Apr 9 () Air India chief Rajiv Bansal on Thursday said that the "crippling effect" of the novel coronavirus has further plummeted the airline's finances to a "precarious" position but despite that, it has managed to keep afloat.Bansal, in a message on Thursday, also assured the employees of providing all the "essential armoury" in carrying out evacuation and chartered flights amid the pandemic."Air India has been passing through a critical financial condition much before the Covid19 onslaught. The crippling effect of the pandemic, especially in the aviation sector, has further plummeted our finances to a precarious position. In spite of this, your airline has left no stone unturned to continue to remain afloat," Bansal said in a message to Air India employees on Thursday.Reminding the employees that the organisation is always with them during these trying times, he said, their safety and health are as important to the company as of its passengers."We are leaving no stone unturned to ensure you get all the essential armoury to fight this war. Our dedicated medical services team members are available round the clock for any consultation, advice or emergency. We are doing everything possible to minimise risk factors," Bansal said.Besides taking all the precautionary measures and providing PPE to ensure your safety, Air India was amongst the very few airlines in the world, who are providing hazmat suits and other protective equipment for its crew to equip them to face any COVID-related safety concern onboard, he said.It was the first carrier to evacuate stranded Indian nationals from Coronvirus-hit Wuhan in China in January.It is due to these precautionary measures that so far, only one of the airline's crew members amongst so many, who have been flying our charter flights all over the world, has tested COVID positive, he added."I am relieved to inform you that she has also been discharged after full recovery under the watchful eyes of our medical department," Bansal said.In recent weeks, Air India has operated flights to Israel, Germany and London, using its wide-body Boeing 777s and B787s. These services were mainly to carry foreign nationals stranded in the country due to the lockdown, which began on March 25.Stating that all of us in Air India, no doubt, are in this war together, Bansal said, "Adversity brings the best out of us and is a litmus test of our courage and strength of character. This is also the time to show how much we care for one another." IAS MRMR

You Searched For "Rajiv Bansal" and got 8 results

Rajiv Bansal appointed Air India chief

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'Homecoming' for Rajiv Bansal as Air India CMD

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Was former CFO Rajiv Bansal not fit for Ola? His ex-colleagues think so

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Infosys sees industry-level growth in FY17, if it meets 10-12% revenue growth that is

BI India Bureau

Infosys pays Rs 6 lakh in compounding fees to settle ex-CFO severance payment row

PTI

Indian IT Ministry is going to invoke nationalism which will make you ditch ‘.com’ and adopt ‘.in’ right now

BI India Bureau

Coronavirus deteriorates Air India finances but airline manages to keep afloat, says chief

PTI

Air India finances plummet due to coronavirus impact, says chief

PTI

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