BENGALURU: It's not just the 194,000-odd employees at India's second largest software exporter who are being put through the paces.

In what would mark the first such instance in India's $160-billion IT industry, board members at Infosys are now being trained and brought up to speed with "design thinking" -an industry parlance that refers to the practice of solving traditional tech problems using newer, different and innovative methods.

Axis Bank’s top management has decided to take home a reduced variable pay, as the lender’s performance came under pressure in the last financial year due to mounting bad loans.

“The top management will take a cut in the variable pay of anywhere between 20 and 50 per cent. The quantum will depend on various factors, including their role and the departments they work for,” said a top Axis Bank official.

Taking a step towards cleaning up its balance sheet, the Punjab National Bank (PNB) has identified 53 corporate non-performing loans worth Rs 6,300 crore for sale to asset reconstruction companies (ARCs).

The state-owned bank, which has substantial exposure to stressed sectors such as steel, will desist from additional lending to these sectors till the tide turns.

NEW DELHI: Moody's Investors Service today said Tata Power's 2015-16 results were within its projections and it expects the company's financial position to remain stable over the next 12-18 months.

" Tata Power Company Limited's (TPC, Ba3 stable) FY2016 results are within Moody's expectations and continues to support its Corporate Family Rating of Ba3," it said in a statement.

The government has announced the names of 13 more cities that will be developed under the Centre's 'Smart City Mission' with Lucknow in poll-bound Uttar Pradesh topping the list, followed by Warangal in Telangana and Dharmashala in Himachal Pradesh.

Twenty-three cities with the higher rankings from as many states and Union terrritories, which failed to get representation in the first round of a competition held in January, participated in the 'Fast Track Competition', the result of which was announced by Urban Development Minister M Venkaiah Naidu.

MUMBAI: The Sensex inched lower by about 38 points in early trade on Tuesday on sustained selling by funds and retail investors, tracking losses in global markets amid fears of a possible hike in US interest rates.

Besides, a further depreciation in the rupee, which fell 18 paise to over 2-1/2 month low of 67.67 against the dollar, weighed on sentiment.

With Indian Railways aggressively focusing on renewable energy, India’s first solar panel-fitted train is all set to commence trial runs shortly. What makes this trial run special is that all coaches of the train would be lit from power generated by the rooftop solar panels.

Last year, Northern Railways had fitted one coach of the Rewari-Sitapur broad gauge passenger train with solar panels. However, this would be the first DEMU (Diesel Electric Multiple Unit) broad gauge train, in which all coaches have solar panels, says Railways.

In a move to strengthen its research & development (R&D), the country's largest carmaker Maruti Suzuki India (MSIL) has said that 40% of its proposed capex of Rs 4,400 crore will be towards new product development. The company's Rs 2,000 crore R&D and testing facility at Rohtak will give further boost to the company, said a senior executive.

In a recent investors call, the company said some of the projects have got deferred to next year. So, the company has proposed a budget of Rs 4,400 crore and 40% of that will be deployed towards new product and development. Capex in 2015-16 was Rs 2400 crore.

NEW DELHI: Bringing some relief to lenders that have financed 'languishing' projects, NHAI has decided to pay back major share of the loan to the banks after carrying out independent assessment of the work done.

Such projects will then be, under public-private-partnership (PPP), taken over by the authority for their completion. Sources said NHAI Board, the apex body with representatives from different ministries, has approved the proposal and it will soon be sent to the cabinet secretariat for its assent to carry out necessary changes in the model concession agreement(MCA).

Mumbai: Larsen and Toubro Ltd (L&T), India’s biggest engineering and construction company, is expected to miss its revised forecast of a 5-7% growth in order inflows for the year ended 31 March, when the company reports its fourth quarter results on Wednesday, analysts said.

L&T, which is often referred to as a proxy for the broader economy and has interests in finance and information technology sectors, has been hurt by stalled industrial projects and a private investment cycle that’s yet to take off, coupled with slower growth in key overseas markets.

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