Industry body Nasscom on Friday sought to allay fears of mass layoffs in the Indian IT sector and claimed the industry continues to be a "net hirer" with over 1.5 lakh people being employed on net basis every year.

Stating that the reports of mass layoffs were incorrect, it said workforce realignment, linked to performance appraisal processes, is a regular feature every year.

The South Korean government on Friday ordered car makers Hyundai and Kia Motors to recall about 2,40,000 cars, after a tip off from a whistleblower, the media reported.

It is the first time the country's government has issued a compulsory vehicle recall, reports the BBC.

New Delhi, May 12 (PTI): The Supreme Court Friday said the practice of triple talaq divorce was the worst and not a desirable form of dissolution of marriages among Muslims, even though there were schools of thought that termed it as legal.

There are “schools of thought [which] say that triple talaq is legal, but it is the worst and not desirable form for dissolution of marriages among Muslims,” a five-judge constitution bench, headed by Chief Justice J.S. Khehar, said on the second day of continued hearing on the matter.

State Bank of India (SBI), the country’s largest lender, has decided to impose a charge of ₹25 per transaction for cash withdrawals, irrespective of the amount, from its wallet — SBI Buddy — through automated teller machines from June 1.

As of now, this feature is not there in the ATM, but SBI will shortly introduce this service.

Engineering conglomerate Larsen and Toubro (L&T) has been awarded a contract to supply 100 self-propelled howitzers to the Indian Army for nearly Rs 4,500 crore. The first batch of the 155mm/52 calibre tracked self- propelled (SP) gun — K9 VAJRA-T — will be delivered later this year and the entire supply will be made within next 42 months. L&T, supported by its South Korean technology partner Hanwha Tech Win (HTW), had bid for the contract in 2011.

The S&P BSE Sensex came down from its record peaks, slipping 52.28 points amid profit-booking in recent gainers from healthcare, telecom, banks, financials, FMCG and consumer durable sectors as caution crept ahead of key government macro data to be released later today. The industrial production data (IIP) for March and April inflation data based on consumer price index (CPI) will be announced after market hours today, while weak Asian trend also dampened sentiments.

KOLKATA: Leading automobile manufacturer Tata Motors Limited today said that the company was readying itself for compliance to the Bharat Stage-VI (BS) emission norms scheduled to come into effect from 2020.

"TML is now working towards manufacturing BS-VI- compliant commercial vehicles for which significant R&D activity is being undertaken," Girish Wagh, head, product line, MHCV (medium and heavy commercial vehicles), of the company said.

India’s Information Technology (IT) companies are in the middle of their biggest retrenchment drive. After Wipro fired over 600 staff members in March, it has now been reported that seven of the biggest companies have planned to ask at least 56,000 engineers to leave this year. That roughly amounts to 8,000 employees per company.

As reported in Mint, the companies include both Indian and multinational firms with a large footprint in India.

Infosys has deferred salary hikes for employees to July and even later in case of senior executives as the Indian tech industry struggles to cope with uncertain environment and visa-related issues in key markets like the US.

Typically, the country's second-largest software services firm rolls out increments from April but this year the hikes have been pushed back to next quarter. Infosys has over two lakh employees.

Prime Minister Narendra Modi on Friday announced that India's flag carrier Air India would begin direct flights between Colombo and the holy city of Varanasi from August.

Modi, who is on a two-day visit to Sri Lanka, made the announcement of the beginning of the flights during his address at the inauguration of the International Vesak Day, the biggest festival of Buddhists.

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