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<keyword id="22602406" type="General" weightage="20" keywordseo="Hollywood-superstar" source="keywords">Hollywood superstar</keyword> <keyword id="19981294" type="General" weightage="20" keywordseo="Tom-Cruise" source="keywords">Tom Cruise</keyword> is expected to make an appearance at the <keyword id="21485167" type="General" weightage="20" keywordseo="closing-ceremony" source="keywords">closing ceremony</keyword> of the <keyword id="22571888" type="General" weightage="20" keywordseo="Paris-Olympics-ceremony" source="keywords">Paris Olympics ceremony</keyword> on August 11. The action star, known for blockbusters such as "Mission Impossible" series, "Top Gun" and "Edge of Tomorrow", will reportedly perform a stunt at the event as the <keyword id="22640090" type="General" weightage="20" keywordseo="Olympics-flag" source="keywords">Olympics flag</keyword> is handed over to the 2028 games host city, <keyword id="19914983" type="General" weightage="20" keywordseo="Los-Angeles" source="keywords">Los Angeles</keyword>, reported Deadline quoting a well-placed source. "Expect a major Hollywood production," the publication said quoting the source. Although the details about the event are kept secret, the Olympic flag would be transferred from Paris Mayor Anne Hidalgo to L.A. Mayor Karen Bass. Hollywood website TMZ was the first to report Cruise's involvement in the closing ceremony and claimed that the actor, known for his dare devil approach to action, is planning an "epic stunt" for the Olympics as well. The plan, the website said, involved the actor "rappelling down from the top of Stade de France ... landing on the stadium field and carrying the official Olympic flag". Paris was a major setting in Cruise's 2018 "Mission Impossible: Fallout". The 2028 Summer Olympics will run from July 14-30 in Los Angeles, which also hosted the Games in 1932 and 1984. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/ola-electric-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112185870.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/ola-electric-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112185870.cms" target="_blank">Ola Electric IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-2a-plus-with-dimensity-7350-pro-chipset-launched-in-india-starting-at-29999/articleshow/112164963.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-2a-plus-with-dimensity-7350-pro-chipset-launched-in-india-starting-at-29999/articleshow/112164963.cms" target="_blank">Nothing Phone (2a) Plus with Dimensity 7350 Pro chipset launched in India starting at ₹29,999</a><a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-decline-by-2-in-q2-2024-xiaomi-retakes-the-throne/articleshow/112162312.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-decline-by-2-in-q2-2024-xiaomi-retakes-the-throne/articleshow/112162312.cms" target="_blank">Indian smartphone shipments decline by 2% in Q2 2024, Xiaomi retakes the throne</a>

Tom Cruise to close Paris Olympics ceremony

New Delhi, Jan 31 () Flagging "disproportionate dwarfism" of Indian banks as compared to the size of the economy, the Economic Survey on Friday called upon public sector banks to become efficient and support economic growth rather than "pullback lending", for India to achieve the goal of becoming a USD 5 trillion economy.
 The Economic Survey 2019-20 tabled in Parliament by Finance Minister Nirmala Sitharaman noted that despite nationalisation a significant portion of the poor remained unbanked till 2014.
 The survey also cautioned that "inefficient PSBs can severely handicap the country's ability to exploit the unique opportunities" it can utilise today.
 It suggested use of FinTech (financial technology) across all banking functions and employee stock ownership across all levels to enhance efficiencies in public sector banks, observing that with the cleaning up of the banking system and the necessary legal framework such as the Insolvency and Bankruptcy Code, the banking system must focus on scaling up efficiently to support the economy.
 The survey said bank employees should be given stakes through an employee stock ownership plan (ESOP) together with proportionate representation on boards proportionate to the blocks held by employees to incentivise them and align their interests with those of all shareholders.
 It also recommended that a GSTN type of entity should be set up to enable the use of big data, artificial intelligence and machine learning in credit decisions, especially those pertaining to large borrowers.
 The survey also called on PSBN (PSB Network) to use technology to screen and monitor borrowers comprehensively and at length.
 "As government is the owner of all the PSBs, government has the right to use the data that PSBs generate during their business. Therefore, the government as the promoter must set up this entity that will aggregate data from all PSBs to enable decision making using big data techniques," said the survey.
 Apart from utilising data from all PSBs, which would provide a significant information advantage, PSBN would utilise other government sources and service providers to develop AI-ML ratings models for corporate.
 The high operating costs of each PSB would decrease by helping them automate the end-to-end process of lending. PSBs would be able to make quicker decisions, process loan applications faster, and reduce turn-around-times, said the survey.
 The survey also said that if Indian banks were proportionately large in relation to the size of the Indian economy, India should have at least six banks in the global top 100 than just the current largest PSB State Bank of India, which is the 55th largest bank globally.
 Pointing out that in 2019, India completed the 50th anniversary of the bank nationalisation programme undertaken in 1969, the survey made a special mention of the accomplishments of the 389,956 officers, 295,380 clerks, and 121,647 sub-staff who work in public sector banks and said the time was apt to celebrate them.
 Observing that both rural bank deposit mobilisation and rural credit increased significantly after the 1969 nationalization, the survey however, said some caution is necessary in interpreting the above trends as being entirely caused by nationalisation.
 Quoting studies, it said the differential impact on poverty seen during 1977-1991 cannot be attributed to nationalisation.
 Besides the non performing assets (NPAs) leading to losses, frauds are another source of concern in PSBs, said the survey, highlighting the urgent need for a thriving banking sector and a vibrant banking system which can support and unleash a multiplier effect and permanently alter India's growth trajectory in a positive way.
 "A large economy needs an efficient banking sector to support its growth. As PSBs account for 70 per cent of the market share in Indian banking, the onus of supporting the Indian economy and fostering its economic development falls on them. Yet, on every performance parameter, public sector banks (PSBs) are inefficient compared to their peer groups," said the survey.
 The survey highlights that there is a "disproportionate dwarfism of the Indian banks when compared to the size of the Indian economy. A fit of the number of banks in the global top 100 and the size of the economy shows clearly that India is a significant outlier on the negative side. All the largest economies have proportionately large banks."
 It noted that majority ownership of the government and its writ on bank functioning also results in an implicit promise of the bailout of bank liabilities which is an implicit cost to the taxpayer.
 "The majority ownership by the government also subjects PSB officers to scrutiny of their decisions by the central vigilance commission and the comptroller auditor general. With no real restrictions on what can be investigated and under what circumstances, officers of state-run banks are wary of taking risks in lending or in renegotiating bad debt, due to fears of harassment under the veil of vigilance investigations," the survey said. RSN MKJ

Eco Survey flags 'disproportionate dwarfism' of Indian banks, calls upon PSBs to become efficient

The Centre on Thursday categorically cautioned social media platforms against spreading <keyword id="2479020" type="PERSON" weightage="20" keywordseo="Fake-news">fake news</keyword> or anything <keyword id="4056269" type="PERSON" weightage="20" keywordseo="inciting-violence">inciting violence</keyword>, as Information Technology Minister Ravi Shankar Prasad said action will be taken if Indian laws were flouted. "There is <keyword id="6455533" type="UNKNOWN" weightage="20" keywordseo="freedom-of-speech">freedom of speech</keyword> but Article 19A says that this is subject to reasonable restrictions," the Minister for Communications, Electronics &amp; Information Technology told in the Rajya Sabha as he reminded platforms like Twitter and Facebook to comply with Indian rules while carrying out business. "We respect social media a lot, it has empowered common people. Social media has a big role in the Digital India programme. However, if social media are misused to spread fake news and violence, then action will be taken on the <keyword id="1892122" type="PERSON" weightage="20" keywordseo="Misuse-of-Social-Media">misuse of social media</keyword> in India whether Twitter or else," said Prasad. He said all the social media platforms will have to adhere to the constitution of India. The Indian constitution allows criticism of the government and the Prime Minister, but spreading fake news will not be allowed, he said. Prasad said, "We have flagged certain issues to Twitter and social media has to take into consideration of the Indian Laws if they want to do business in the country. "Different parameters can't be allowed for different countries. It can't be different for the Capitol Hill incident and some other parameters and for the Red Fort incident." The Indian government on Wednesday expressed displeasure over Twitter's delayed compliance on its order to remove "provocative" tweets amid the ongoing farmers' protests. IT Secretary Ajay Prakash Sawhney expressed Centre's displeasure to Twitter's management. An official statement issued late Wednesday night said the Secretary told Monique Meche, Vice President, Global Public Policy and Jim Baker, Deputy General Counsel and Vice President Legal of Twitter that delayed compliance to lawfully passed orders are "meaningless". "Lawfully passed orders are binding on any business entity. They must be obeyed immediately. If they are executed days later, it becomes meaningless," Sawhney was quoted as saying in the statement. The official expressed his deep disappointment to Twitter leadership about the manner in which Twitter has unwillingly, grudgingly and with great delay complied with the substantial parts of the order, the statement said. He also told Twitter that in India its Constitution and laws are supreme. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/india-and-china-begin-to-disengage-from-friction-areas-along-the-border/articleshow/80831679.cms">India and China begin to disengage from friction areas along the border — terms and conditions apply</a> <a href="https://www.businessinsider.in/international/news/twitter-faces-a-political-disaster-in-india-where-its-taking-heat-from-both-the-government-and-protesters-over-the-suspension-of-accounts/articleshow/80790166.cms">Twitter faces a political disaster in India, where it's taking heat from both the government and protesters over the suspension of accounts</a> <a href="https://www.businessinsider.in/tech/news/at-least-35000-gamers-were-complaining-when-ps4-and-ps5-network-went-down-for-an-hour-a-little-after-dawn/articleshow/80826872.cms">How big is Playstation in India⁠ — at least 35,000 gamers were complaining when PS4 and PS5 network went down for an hour a little after dawn</a>

Facebook and Twitter told that freedom of speech is subject to reasonable restrictions by Indian government

(Eds: Updating with fresh details) Dubai, May 7 () The first of the two flights from the UAE carrying 177 Indian nationals left for Kerala on Thursday, as India began its biggest ever repatriation exercise to bring back its citizens stranded abroad amidst the international travel lockdown over the coronavirus pandemic.A total of 354 Indian nationals, including 11 pregnant women and a pair of twins, will return home on Thursday in the two flights from the UAE to Kerala as part of the repatriation exercise named 'Vande Bharat Mission.'The Air India Express flight IX452 took off from Abu Dhabi to Kochi, which will be followed by a Dubai-Kozhikode flight of the same airline.Passengers started arriving at Abu Dhabi and Dubai airports as early as 9.30am on Thursday. Some of the passengers were carrying the Indian flags.Indian Ambassador Pavan Kapoor was seen enquiring about the procedure from some of the passengers undergoing medical screening at the Abu Dhabi airport."Kudos to all the passengers for waiting patiently for their turn for medical screening and many thanks to all the frontline health workers and airport staff for extending full support," the Indian Embassy in Abu Dhabi tweeted. There are no suspected COVID-19 cases among the first batch of passengers being repatriated on Thursday."All of them have cleared the tests," Consul General of India in Dubai Vipul was quoted as saying by the Gulf News.He said the criteria of passengers' selection included medical cases, loss of jobs, pregnant women and senior citizens. Those with complications and financial issues were also picked.On Monday, the Indian government announced plans to begin a phased repatriation of its citizens stranded abroad from May 7. The government also said that Air India will operate 64 flights from May 7 to May 13 to bring back around 15,000 Indian nationals stranded abroad amid the COVID-19-induced lockdown.Short-listing the first passengers from among a database of more than 200,000 applicants, who include around 6,500 pregnant women, has been a mammoth task which posed several challenges for the missions, Neeraj Agrawal, Consul, Press, Information and Culture at the Indian Consulate in Dubai told the Gulf News.India is conducting its biggest ever repatriation exercise named Vande Bharat Mission-sans social distancing and COVID-19 tests to bring back stranded Indians from abroad.The Indian missions in the UAE finalised the list of passengers, who were chosen based on the compelling reasons they submitted while registering their names."Only passengers with confirmed tickets must proceed to the airport. They are required to reach the airport five hours prior to departure," Agrawal said.The Indian Consulate had appealed to passengers not to overcrowd the airport, maintain social distancing and follow all necessary precautions stipulated by the authoritiesAir India crew members on board the repatriation flights will be fully protected with protective gear, including Personal Protective Equipment, to reduce the risk of contracting coronavirus, Khaleej Times reported.The Indian expatriate community of approximately 3.42 million is reportedly the largest ethnic community in the UAE constituting roughly about 30 per cent of the country's population, according to information available on the Indian Embassy website.India imposed a nationwide lockdown to curb the spread of the coronavirus in the country, grounding all international flights since mid-March. Under the repatriation plan, the government will be facilitating the return of Indian nationals stranded abroad on compelling grounds in a phased manner. AMS ZH AKJ ZHZH

COVID-19: Air India flight from UAE carrying 177 Indian nationals takes off

(Eds: Updating with more details) Dubai, May 7 () Two special flights from the UAE carrying a total of 354 Indian nationals left for Kerala on Thursday, as India began its biggest ever repatriation exercise to bring back its citizens stranded abroad amidst the international travel lockdown over the coronavirus pandemic.The Air India Express flight IX452 carrying 177 passengers from Abu Dhabi to Kochi took off at 5.07 pm (local time). Few minutes later, the Dubai-Kozhikode flight took off at 5.46 pm (local time) as part of the repatriation exercise named 'Vande Bharat Mission.'"#VandeBharatMission begins! The first flight with 177 passengers takes off from Abu Dhabi to Kochi. #TeamIndia will continue with its tireless efforts to bring Indians home," Ministry of External Affairs spokesperson Anurag Srivastava tweeted.assengers started arriving at Abu Dhabi and Dubai airports as early as 9.30am on Thursday. Some of the passengers were carrying the Indian flags.Indian Ambassador Pavan Kapoor was seen enquiring about the procedure from some of the passengers undergoing medical screening at the Abu Dhabi airport."Great to see the #VandeBharatMission Abu Dhabi Kochi special flight IX452 taking off from the @AUH. Thanks all for cooperation and support for making it possible," the Indian Embassy in Abu Dhabi tweeted."Kudos to all the passengers for waiting patiently for their turn for medical screening and many thanks to all the frontline health workers and airport staff for extending full support," it said earlier.Captain Rizvin Nasser, 26, an alumnus of the Sharjah Indian School, is co-pilot of flight IX452.Minutes after the departure of the first flight, India's second repatriation flight from the UAE also took off. "Air India Express Flight left for Kozhikode with 177 passengers on boardwith last passenger Ajith was added to attend final rites of her mother after one passenger dropped out due to immigration issue. A big satisfaction to serve all," the Consulate General of India in Dubai tweeted. Ajith Pullanikotti, an IT professional, made it to the flight at the last minute to be able to attend the last rites of his mother who died two days ago. He was the only son."I have been trying to go for weeks so that I could be by my mother's side. Unfortunately, she had to breathe her last without me being next to her. I really hope I can make it today," Ajith told Khaleej Times.There are no suspected COVID-19 cases among the first batch of passengers being repatriated on Thursday."All of them have cleared the tests," Consul General of India in Dubai Vipul was quoted as saying by the Gulf News.He said the criteria of passengers' selection included medical cases, loss of jobs, pregnant women and senior citizens. Those with complications and financial issues were also picked.The last two rows of seats in both the flights are not occupied. In case of any health issues, passengers can use them.On Monday, the Indian government announced plans to begin a phased repatriation of its citizens stranded abroad from May 7. The government also said that Air India will operate 64 flights from May 7 to May 13 to bring back around 15,000 Indian nationals stranded abroad amid the COVID-19-induced lockdown.Short-listing the first passengers from among a database of more than 200,000 applicants, who include around 6,500 pregnant women, has been a mammoth task which posed several challenges for the missions, Neeraj Agrawal, Consul, Press, Information and Culture at the Indian Consulate in Dubai told the Gulf News.India is conducting its biggest ever repatriation exercise named Vande Bharat Mission-sans social distancing and COVID-19 tests to bring back stranded Indians from abroad.The Indian missions in the UAE finalised the list of passengers, who were chosen based on the compelling reasons they submitted while registering their names."Only passengers with confirmed tickets must proceed to the airport. They are required to reach the airport five hours prior to departure," Agrawal said. The Indian Consulate had appealed to passengers not to overcrowd the airport, maintain social distancing and follow all necessary precautions stipulated by the authorities. The passengers included 18 pregnant women, five infants and 12 senior citizens and three people including identical twin brothers Jackson and Benson Andrews who have been stranded in Dubai Airport for 50 days.The tired and homesick 30-year-old brothers, Jackson and Benson Andrews, have been stranded inside the Dubai International Airport's terminal 3 since March 19 while they were returning from Lisbon, Portugal. They were among the 19 Indians who were stuck inside the airport for over a month.From the UAE, at least 200,000 Indians have registered on the web portal collecting data of persons wishing to return home.Air India crew members on board the repatriation flights were fully protected with protective gear, including Personal Protective Equipment, to reduce the risk of contracting coronavirus.The Indian expatriate community of approximately 3.42 million is reportedly the largest ethnic community in the UAE constituting roughly about 30 per cent of the country's population, according to information available on the Indian Embassy website.India imposed a nationwide lockdown to curb the spread of the coronavirus in the country, grounding all international flights since mid-March. Under the repatriation plan, the government will be facilitating the return of Indian nationals stranded abroad on compelling grounds in a phased manner. AMS ZH AKJ ZHZH

COVID-19: Two Air India flights from UAE carrying 354 Indian nationals take off

<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div><ul class="summary-list"><li>An Indian man was arrested in Delhi airport Monday. Police there say he dressed up as a pilot and tried to use his status to get preferential treatment, like free upgrades.</li><li>Officers say Rajan Mahbubani was trying to pass himself off as a Lufthansa pilot while getting on an Air Asia flight from Delhi to Kolkata.</li><li>Police said Mahbubani had also previously impersonated an army colonel.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></li></ul>An Indian man was arrested in at an airport in New Delhi Monday, on suspicion of dressing up as an airline pilot in an attempt to get preferential treatment.Rajan Mahbubani was detained while attempting to board an Air Asia flight at New Delhi's Indira Gandhi International Airport, <a href="https://edition.cnn.com/travel/article/india-fake-lufthansa-pilot-arrest/index.html">according to a report from CNN</a>.He was dressed in the uniform of a pilot for Germany's flag carrier airline, Lufthansa.According to CNN, Mahbubani told authorities that he had frequently dressed up as a pilot to secure perks like upgraded seats and access to crew-only lines at security and passport control.Mahbubani even had a fake Lufthansa pilots ID, police said.His scheme was discovered when staff from the Air Asia flight he was trying to board called Lufthansa to confirm his identity.He was then arrested at the gate before getting on the flight to Kolkata.<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div><a href="https://www.telegraph.co.uk/news/2019/11/21/indian-businessman-wore-pilot-disguise-get-upgrades-special/">According to The Daily Telegraph</a>, police accused Mahbubani of having a history of impersonated various uniformed professions.The outlet quoted Delhi airport police official Sanjay Bhatia, who said: "The passenger had also posted videos wearing different uniforms on TikTok. He had travelled on various occasions using the same modus operandi. The travel history of the passenger is being scanned."Mahbubani's case has been compared to a less successful version of the movie <a href="https://www.youtube.com/watch?v=71rDQ7z4eFg">"Catch Me If You Can,"</a> which told the story of Frank Abagnale, who conned people out of millions of dollars in the 1960s using various disguises including that of a pilot.The Telegraph said police also found pictures on Mahbubani's phone of him dressed as an army colonel.An official for Air Asia acknowledged the arrest, saying in a statement reported by <a href="https://timesofindia.indiatimes.com/business/india-business/con-man-boards-over-15-flights-as-pilot-held/articleshow/72122446.cms">The Times of India</a>: "He was handed over to the airport police and an investigation has been ordered."The incident is the second involving elaborate disguises to emerge from Delhi in recent months. In September, 32-year-old Jayesh Patel was <a href="https://www.businessinsider.com/indian-man-old-man-disguise-fake-passport-2019-9?r=US&amp;IR=T">arrested for dressing up as an old man,</a> including dying his hair white, to try and get on a plane to the US.Patel tried to board a flight to New York using a passport with the fake name of Amrik Singh, an 81-year-old born in Delhi in February 1938, the Central Industrial Security Force said.

An Indian man dressed up as a pilot and used his disguise to skip lines and get free upgrades, police say

With the Test Series coming to an end, the <keyword id="8675" type="ORGANIZATION" weightage="100" keywordseo="Indian-cricket-team">Indian cricket team</keyword> would now be seen battling against Australia and England in a tri-nation series. Soon after that, the whole world would encounter the force with which the team would go on to defend their title of World Champions in the 2015 Cricket World Cup. 
 
However, there would be a change this year: the color, make and design of the jerseys they would wear this time around. 
 
One-Day format Captain MS Dhoni, with rest of the Team India, unveiled the team’s new ODI kit early morning today in the Melbourne Cricket Ground. Team India’s kit has been designed by Nike while Star Network is the official sponsor. 
 
“Is an improvement over the previous one,” Dhoni was quoted saying. Reportedly, the Nike designers have spent several hours taking inputs from the Indian cricket team regarding their requirements and preferences for the jersey. 
 
What makes this kit even special is that it has been made out of 100% recycled polyester, which is not only environment-friendly but also has enhanced stretch and moisture-releasing qualities. 
 
“There has been constant interaction between Nike and the players,” said Dhoni. “We all gave them our inputs and a lot of them have been passed. The product was already great and this is just an improvement on the previous one. It looks good.” 
 
Dhoni contributed his two cents in designing the front part of the jersey, which has strands signifying 24 spokes in the Ashok Chakra of the national flag, giving the person who wears it a patriotic feel. 
 The young gun machine <keyword id="6354486" type="PERSON" weightage="80" keywordseo="Virat-Kohli">Virat Kohli</keyword> said that he was very particular about the fit of the jersey, which according to him is important for a sportsperson. 
 All-rounder <keyword id="6359048" type="PERSON" weightage="80" keywordseo="R-Ashwin">R Ashwin</keyword> said that he likes the environment-friendly vision with which the kit has been created. “We feel socially responsible as a unit wearing this kit and doing our bit for the environment. So, in that regards, I am really proud of what Nike has given us.” The reason why Ashwin stresses over the environment-friendly aspect is that a pair of shirt and trousers is made out of 33 plastic bottles, which in itself is a big step in direction of social responsibilities they follow as a team. 
 
The color of the kit has also been modified to a new shade of blue, which would give an energetic approach to the upcoming series and the World Cup matches that follow. 
 
Source: <a href="http://www.bcci.tv/news/2015/news/9556/team-indias-new-odi-kit-launched">BCCI</a>

Indian Cricket Team To Don A Different Blue This World Cup

When Prime Minister Narendra Modi-led Indian government came to power, it had flagged off a <keyword id="3520268" type="UNKNOWN" weightage="20" keywordseo="bpo-promotion-scheme">BPO promotion scheme</keyword> with an outlay of nearly Rs 500 crore and mission to create 1.5 lakh jobs; almost 60 companies bid in the first round. 
 
But, the response has been quite lukewarm as bids coming in from companies formed only one-fourth of the total capacity. 
 
Most of the top order BPO did not take up the scheme as many of them do not have operations in small towns and cities. 
 
"I won't say that the response was bad, but we were expecting more participation," a government official told ET. 
 
ET quoted two officials who said that the ministry of electronics and IT (MEIT) received bids for only 11,500 seats from 60 companies out of the total 48,000 seats on offer in the first round that closed in the first week of July. 
 
An industry executive told ET that despite the attractive government subsidy, the scheme was not lucrative enough since most of them already have operations in tier-II and III towns and the government disallowed expansion under the policy. 
 
"In a way, the government is trying to reward us 10 years later for starting operations in the small towns which we began in 2005," Bhupender Singh, CEO of Intelenet Global Services, told ET, adding “50 per cent of the company's India business is already delivered from non-metro centres in places such as Puducherry, Guwahati and Agra.” 
 
Sanjay Mehta, chairman of the BPO committee of Indo-American Chamber of Commerce, told ET, “The industry makes $25 billion in revenues and almost $2 billion in profits every year, perhaps it doesn't need any freebies. But, what it does need is confidence in clients that they can be serviced well out of these small town centres which the government could have provided through some marketing in the UK and the US, which contribute almost 90 per cent of the industry's revenues.” 
 Even though some companies stayed away from the project, Tata Consultancy Service (<keyword id="6357150" type="CITY" weightage="20" keywordseo="TCS">TCS</keyword>), took up the scheme and had proposed to set up 3,000 seats - 1,000 seats each in <keyword id="6354814" type="UNKNOWN" weightage="20" keywordseo="prime-minister-Narendra-Modi">Prime Minister Narendra Modi</keyword>'s constituency Varanasi, <keyword id="3081185" type="UNKNOWN" weightage="20" keywordseo="IT-minister-Ravi-Shankar-Prasad">IT minister Ravi Shankar Prasad</keyword>'s home town Patna, and Nashik.

Indian Government’s Rs 500 crore BPO promotion scheme fails to create magic, gets tepid response

<keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> is India’s new rockstar — and we named him the <a href="http://www.businessinsider.com/the-most-impressive-people-of-2014-2014-12">Most Impressive Person of 2014</a>. 
The Prime Minister of India may have only been in office since May, but he's already made an impact all over India — and the rest of the world. 
 From his "love thy neighbor" policy for nearby countries and his Make In India and <keyword id="1929810" type="UNKNOWN" weightage="20" keywordseo="Digital-India">Digital India</keyword> campaigns to his <keyword id="2513096" type="UNKNOWN" weightage="20" keywordseo="Swacch-Bharat">Swacch Bharat</keyword> Abhiyaan (Clean India drive) and robust foreign policies, Modi has managed to become the most popular man in India. 
 
What makes him the favorite of the Indian people is his gift of gab. With his charismatic elocution skills he can instantly connect with his audiences and instill hope by making people believe that things can change for the better. A testament of his oratory skills was clearly visible at the Madison Square, where he <a href="http://www.businessinsider.in/NaMo-Fever-Grips-Indian-Americans-At-Madison-Square/articleshow/43754610.cms">delivered a speech to thousands of Indian-Americans — and everyone was spellbound.</a> 
 
He also proved his mettle as a bureaucrat and a visionary during his visits abroad. For instance: after his Japan visit, Japan pledged to invest <a href="http://www.businessinsider.in/A-Sneak-Peak-At-The-Red-Carpet-That-Awaits-Modi/articleshow/43492967.cms">$35 billion in India over the next five years</a>; during his US visit, the two heads of states <a href="http://www.businessinsider.in/ObamaModi-Resolve-To-Enhance-Mutual-Cooperation/articleshow/43991298.cms">discussed various issues and "pledged to establish enhance mutual corporation</a>"; and his Australian visit marked <a href="http://www.businessinsider.com.au/indian-pm-narendra-modis-australian-visit-marks-a-dramatic-turnaround-in-relations-between-the-two-nations-2014-11">a dramatic turnaround in relations between the two nations.</a> 
 
Ever since he entered politics, he has worked tirelessly to "Modi-fy" India’s image across the globe, with his pro-people governance, smarter cities, and red carpet (not red tape) business policies for investors. And this is just the beginning of a new, confident, secure and self-sufficient India. 
 
He seems to be saying the right things at the right places. While on the global front, he is advocating ‘pro-business’ and ‘collaboration between countries’ to make this world a better place to live, in India the man is brazenly using ‘role models’ of other political parties to start revolutions on the domestic front. 
 No wonder, he is The <keyword id="2655494" type="UNKNOWN" weightage="20" keywordseo="Most-Impressive-Person">Most Impressive Person</keyword> Of 2014. Here are just a few reasons why Indians love Modi so much: 
 
Swacch Bharat Abhiyaan: Quoting the example of <keyword id="6355532" type="PERSON" weightage="20" keywordseo="Mahatma-Gandhi">Mahatma Gandhi</keyword>, he flagged off the ‘Swacch Bharat Abhiyaan’ in India—<a href="http://www.businessinsider.in/Swacch-Bharat-Abhiyaan-Intent-And-Spirit-Should-Win-Against-Spite/articleshow/44753753.cms">wielded the broom, much to the chagrin of opposition parties, as the entire nation watched and responded in awe</a>. 
 
He introduced transparency and accountability for government officials: The man means work and there’s no escaping that. Modi made his stance very clear soon after joining the PM office by implementing <a href="http://www.businessinsider.in/Honeymoon-Period-Over-For-Central-Government-Employees-Theyd-Now-Be-Reporting-On-Time-Everyday/articleshow/44597839.cms">Aadhaar-based biometric attendance</a> to monitor and track the work of Central Government employees. He also launched the <a href="http://mygov.in/">mygov.in</a> portal that empowers people to connect with the government and contribute towards good governance. 
 
He is taking baby steps to build Digital India: The <keyword id="6360789" type="ORGANIZATION" weightage="20" keywordseo="Modi-Government">Modi government</keyword>'s Digital India mission has been touted as one of his biggest achievements. This is an attempt by the <keyword id="6377129" type="ORGANIZATION" weightage="20" keywordseo="Government-Of-India">Government of India</keyword> to integrate the government departments and the people of India to ensure effective governance. <a href="http://www.businessinsider.in/A-Step-Toward-Digital-India-10-Crore-Aadhaars-Linked-To-Bank-Accounts/articleshow/45523974.cms">After launching the initiative, the government has so far been able to link bank accounts of 10 crore people with their Aadhaar card numbers.</a> 
 
He made himself available and accessible to the people of India: In a bureaucratic political environment of India, he infused a new life—by connecting with people through a medium they are using the most in today’s digital age. The man maintains a blog, has a website that he regularly manages, and is also there on social media websites like Facebook, twitter and instagram. Not this, he is also leveraging the power of ‘radio’ to reach out to masses—he communicates his thoughts, visions and ideas with the common man every month through his radio show ‘Mann Ki Baat’ (which means conversation from the heart).

Why India's New Prime Minister Is The Most Impressive Person Of 2014

<ul><li>The tech industry has seen more than 200,000 <keyword id="6357067" type="General" weightage="100" keywordseo="layoffs" source="Orion">layoffs</keyword> since the start of 2022.</li><li>Instead of performance, the focus for layoffs is more on eliminating redundant roles that no longer add a major value to the organization.</li><li>Some of the red flags an employee should look out for are a decrease in hiring, budget cuts and changes in management.</li></ul>Bipin Singh, a business development manager at Byju’s with over 11 years experience in the EdTech industry was laid off last month after a stint of 1.5 years at the company. In his LinkedIn post he mentioned about the layoff and urged everyone to reach out to him with job offers or if not, like share and comment on his post to increase reach. Anil <keyword id="906861" type="General" weightage="50" keywordseo="sahani" source="Orion">Sahani</keyword>, a software engineer, lost his job in Accenture recently .“I was one of the first ones to let go as I was a contract employee and also did not have any notice period. The layoffs are still on.” Singh and Sahani are among the thousands of employees who have been affected by tech layoffs in India. Google trend data, which reflects what people search for, shows that between January 22-28 this year, the term ‘layoff’ was at its peak popularity of 100, while between January 23 to January 29 last year, it was just at five. This is not surprising because layoffs are being reported majorly in the media and almost every other post on Linkedin is talking about layoffs. It all started with the news that the big tech giants like Amazon and Google parent Alphabet were laying off in large numbers. While Alphabet laid off 12,000 people, the Amazon layoffs affected more than 18,000 people. Microsoft said it will lay off 10,000 people by the end of the third quarter of 2023 and even SAP and IBM have started laying off employees. It seems it is almost like a contagion that is spreading rapidly like wildfire. The Indian situation: Which brings us to the question: Is the situation as bad in India? Layoffs are now a reality in India too. Reports suggest that around 21,000 techies have lost their jobs in the last three to four months. In the third week of January, Wipro fired more than 400 freshers for failing performance tests. While Amazon has laid off 1,000 of its employees in India, IBM and SAP are also laying off employees, affecting their employees in India as well. Very recently, Byju’s laid off 1,000 people, in a second round of layoffs in February. Sivaprasad N, vice president &amp; business head, TeamLease Digital, a staffing solutions company, puts the number of layoffs in the tech industry at more than 2,00,000 since 2022. Over 21,000 employees <a href="https://www.businessinsider.in/business/news/70-plus-indian-startups-show-exit-door-to-21k-techies-more-pink-slips-coming/articleshow/97411761.cms?">have been laid off </a>by 70 startups in the past 3-4 months including from unicorns like BYJU'S, <keyword id="6354720" type="General" weightage="50" keywordseo="ola" source="Orion">Ola</keyword>, MPL, Innovaccer, Unacademy, Vedantu, Cars24, OYO, Meesho, Udaan and many more. Anuj Gupta, who has over 10 years of experience in SEO, has lost his job in edtech company upGrad and is a part of the current tech and marketing layoff wave. The layoff situation in India is currently more of a spill-over effect of shake-ups in the West. Unlike the funding winter that hit the Indian funded tech startups cohort in 2022, the current layoffs by big labels are largely corrective talent adjustments. “Despite potential opportunities coming our way due to global shakeups, it is prudent for India Inc. to treat the current layoffs as a tip of the iceberg,” says <keyword id="138078" type="General" weightage="50" keywordseo="kamal-karanth" source="Orion">Kamal Karanth</keyword>, CoFounder, Xpheno, a specialist staffing company. He adds that enterprises, especially in tech, will benefit from remaining alert and conservative on costs for at least two quarters. Agrees Sivaprasad, “Companies are battling a slowdown in demand after a hiring frenzy. No company is certain to avoid significant cutbacks in such an economic environment. We are witnessing a significant drop in tech hiring unlike previous years as companies are only doing selective hiring for critical projects. It looks like the trend will continue for some time.” Many IT majors have announced mass layoffs in the last couple of months, quoting factors like overhiring, an impending recession and geopolitical conflicts. “We expect businesses to exhibit caution in hiring and workforce management through a major part of 2023,” <keyword id="13896318" type="General" weightage="50" keywordseo="sachin-alug" source="Orion">Sachin Alug</keyword>, CEO, NLB Services - a global technology &amp; digital talent solutions company. Delhi-based Pankaj Kumar, laid off from a software company this month, says that one day he got a message saying that the company was restructuring and that it was his last day. “However, we were forced to resign and also we received very little in the name of assistance as promised.” Kumar feels that most startups today have no clue about manpower requirements and just hire to show their investors that they are doing well without having an idea of how they can sustain themselves in crucial times. Tech jobs have been the most affected: As discussed, tech companies, especially IT firms, are very vulnerable to an impending recession in the US. “The tech sector has always been highly sensitive to economic cycles, and the current economic downturn could have a significant impact on these companies. A recession could lead to decreased consumer spending, reduced corporate investment, and layoffs, which could all hit tech companies hard,” says <keyword id="328697" type="General" weightage="50" keywordseo="sandeep-budhiraja" source="Orion">Sandeep Budhiraja</keyword>, Co-founder, Executive Director and Chief People Officer - BYLD Group which provides HR and Business productivity solutions, Additionally, the US market is a major source of revenue for many tech companies, so a recession here could have a widespread impact on global operations. Finally, any disruption to the global supply chain could further disrupt tech companies, as many rely on components and materials sourced from around the world. “The sectors that may be most affected, other than the technology, are telecommunications, financial services and retail. The telecommunications sector could be hit by reduced investment in infrastructure and lower customer demand. The financial services sector could be adversely affected by a decrease in credit availability and tightened lending standards, while the retail sector could suffer from decreased consumer spending,” adds Budhiraja. Everyone is vulnerable: “Instead of performance, the focus for layoffs is more on eliminating redundant roles that no longer add major value to the organization. Usually, mass layoffs affect employees invariably regardless of their performance but in organizations that choose to let go of a selected few, performers at a certain level tend to be the target,” says Alug. The primary causes of layoffs are the foreseeable recession and the geopolitical scenario which have led to inflation, impacting many industries. Prominent players in the IT and Technology domain are being cautious to ensure profitability and better predictability of business. Agrees Karanth, “The larger layoffs related to enterprise strategy and austerity are mostly across the ranks and ratings of performance. Such layoffs related to macroeconomic movements are typically steamrollers on entire divisions, geographies and business units. While each enterprise has their own pattern of priority on the layoffs, the high cost and high volume headcounts typically come under the lens faster.” Look out for red flags: “Layoffs in a situation like now are largely written on the wall. It is often the speed and style of a layoff that's a surprise to talent, and not the layoff by itself,” says Karanth. Some of the red flags an employee should look out for are a decrease in hiring, budget cuts and changes in management. “Additionally, if a company is reducing or eliminating certain departments or projects, it may be a sign that layoffs are coming. If there are rumours of layoffs or if employees are being asked to take unpaid leave, this could also be a sign that layoffs are imminent. Finally, if the company is not meeting its financial goals or is experiencing a downturn in business, layoffs may be a possibility,” says Alug. Hiring remains slow: “Many of those who lost their jobs are still looking for work, as nearly every major corporation has put a freeze on new hiring due to global macroeconomic conditions and recession fears. We are witnessing a significant drop in tech hiring unlike previous years as companies are only doing selective hiring for critical projects. Looks like the trend would continue for some time,” says Sivaprasad. However Karanth feels that while tech hiring has slowed down, there are opportunities for talent who are flexible and agile to look beyond their domain. The non-tech sector's talent demand has been compensating well for tech's hiring slowdown. <keyword id="2838370" type="General" weightage="50" keywordseo="shraddha-jain" source="Orion">Shraddha Jain</keyword>, who is also known as 'Aiyyo Shraddha' on social media, posted a hilarious video on Instagram, where she slammed companies for laying off employees despite making a profit. "At the company offsite, we celebrated the company tripling its profit in a year. What happened? A month later we are so poor. Who robbed us?" she asked. While these are questions that reflect the grim reality of large scale layoffs, employees should brace themselves for tough times ahead. 2023 will be a turbulent ride.

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