In 10 years running Mastercard, Ajay Banga has favored a forward-looking approach.
When the pandemic hit, Mastercard's chief executive, Ajay Banga, made a promise to the company's 19,000 employees: There would be no layoffs as a result of the economic destruction wrought by the virus.
It was a decision he could afford to make. During his 10 years as chief executive, Mr. Banga vastly expanded the company's reach. Revenues roughly tripled, and profits quadrupled.
Mr. Banga says he didn't achieve these results simply by managing for the short term. When he took over in 2010, he told investors that he would not be giving quarterly earnings guidance. Instead, he offered investors a rolling forecast of where Mastercard would be in three years, and set to work striking new partnerships around the globe.
The strategy worked. Mastercard stock has soared by more than 1,000 percent during his tenure, outperforming competitors Visa and American Express.
RIL helps cash-strapped Big Bazaar restock shelves India Business News: Future Group's flagship retail chain Big Bazaar, which was facing an acute inventory crunch as a result of non-payment or late payment of dues to supp
Editor's Note: According to Abhishek Jain, partner at EY India, a host of other benefits such as lower income tax for new manufacturing units set up under a new company, state-specific incentives, customs duty benefits on import of capital goods, along with production-linked incentives, would make manufacturing in India attractive. The scheme might see a great response as in the case of mobile manufacturers, he said.
Retired PSU bankers may get one rank, one pension plan Finance minister Nirmala Sitharaman has sounded off banks to do more for employees who retired earlier so they are not discriminated against in terms of pension. The government has also asked banks to review the family pension scheme so that the pension for the spouse is the same as the government.
Exclusive: PE fund Kedaara eyes record $1 billion third fund If it does raise a billion dollars for the third fund, it will be the largest so far by a homegrown PE brand. Multiples PE, founded by Renuka Ramnath, is currently raising a $900 million fund, while ChrysCapital raised an $850 million fund- its eighth, in early 2019.
Regulatory scrutiny of technology platforms will intensify in future Two regulatory developments over the last week indicate that the scrutiny of the way technology companies use data will intensify in the days to come. In Europe, the European Commission informed Amazon that it in...
How ecommerce came to the rescue of Darjeeling, Assam tea producers Indian tea producers have been hit by challenges on the production and logistics fronts because of the Covid pandemic. E-commerce, especially for the domestic market, has helped several tea companies stay afloat amidst the gloom.
Indian move to regulate digital media raises censorship fears OTT (over-the-top) platforms, including Netflix, Hotstar, Prime Video, etc & online news portals are now under the Ministry of Information and Broadcasting.The development was announced in a gazette notification on Wednesday
Editor's Note: Siddharth Varadarajan, the editor of The Wire which has been slapped with multiple criminal charges for coverage considered critical of the government, said: "The government has been claiming for some time now that online news is some sort of wild west that follows no rules. This is nonsense since all the restrictions that come with the constitutional guarantee of free speech, and a free press, apply to news websites, just as they do to newspapers and TV channels. But what irks the government is the use we have made of our freedom - to ask questions and pursue stories that the big media increasingly shies away from."
Editor's Note: Vimal Menon, partner in consultancy firm Zinnov, says the aerospace tech centres collectively employ 10,000 engineers, from branches including mechanical, aerospace, electrical, electronics and software. Bengaluru is the biggest hub in India, followed by Hyderabad and Pune. Greenfield investment monitor FDI Markets finds that Bengaluru was the third most preferred location, after Singapore and London, for aerospace investment. An estimated total of more than 7,000 aerospace jobs were created in the city between 2015 and 2019, the highest amongst all countries analysed.
India's Equalisation levy -- The suspense continues! The Indian government should narrow down the scope ofEqualisation Levy (EL)-2020 in the upcoming Budget 2021 in line with global trends such that businesses are able to take decisions more freely and with greater certainty
India's Richest: Meet The Ice Cream Billionaire From a small ice candy factory, RG Chandramogan has steered Hatsun Agro Products to becoming the biggest private sector dairy company in the country. And, at 71, he is set to expand the business further
Editor's Note: "Today, the turnover we make in 30 minutes is equal to what we used to make in the first 10 years of our business."
Editor's Note: Upmanyu Misra, is on the lookout for smaller SaaS companies that have failed to scale. Misra says these companies are typically founded by subject matter experts with a great product, but gaps in company operations and strategic direction prevent it from growing. Armed with $50 million in cash and $150 million debt line from US-based debt funds, Misra says it has the wherewithal to carry out an operational turnaround once it acquires a company.
IndiGo becomes top aviation stock globally as vaccine fuels optimism IndiGo is trading about 1% away from 52-week highs and comfortably above its pre-covid levels.Its domestic market share rose to 57.5% in Sep. Although, it is to be seen how much of the gains will sustain
Delhi briefly bans some construction to reduce deadly pollution " width="300" class="contentImage" /> India's pollution control board has temporarily banned some construction activity in New Delhi and called for stringent measures to stop farm fires causing air quality to plummet and leaving a toxic haze. The Indian capital has been facing one of the worst spells of air pollution in years, which doctors and environmentalists say is worsening the health effects of a third wave of coronavirus infections.
How Tech OEM players leveraged Twitter to launch and market new products amid pandemic All key Tech OEM brands successfully launched new products amid the Covid-19 pandemic. BestMediaInfo.com dives deep into their Twitter marketing strategy to understand how these brands augmented favourable conversations on the platform by launching innovative campaigns
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Chirag Paswan Now Says All He Wanted Was "To Make BJP Stronger" Chirag Paswan, widely billed as the x-factor in the Bihar election, failed to live up to his claims and managed just one of the state's 243 seats but he calls it a win saying he "achieved" what he set out to do.
Trump Files New Lawsuit Challenging Results, Georgia Announces Recount President Donald Trump's campaign on Wednesday took another step in its legal strategy to upend his US election loss by filing a lawsuit in Michigan while Georgia announced a recount and President-elect Joe Biden focused on laying the foundation of his incoming administration.
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Netflix, Amazon Prime Video other OTT platforms, online news brought under I B Ministry Netflix, Amazon Prime Video & other OTT platforms, online news brought under I&B Ministry. Bollywood News: Latest Bollywood News, Bollywood News Today, Bollywood Celebrity News, Breaking News, Celeb News, Celebrities News, Bollywood News Hindi, Hindi Bollywood News at Bollywood Hungama.com.
Pune engineer is first Indian to ride hyperloop Tanay Manjrekar, a power electronics specialist at Virgin Hyperloop, helped build the futuristic mode of transport and became one of the first humans to test-ride early this morning.
Dharmendra ji is leading our flood relief in Bihar and a source of constant inspiration for us to provide more help to the flood victims. You can call him @ 9431477171 if you want any direct feedback from the ground level or for sending any material. Convenient timings to call: 7:00 AM to 9:00 AM in Morning (IST) 10:30 PM to 12:00 AM in Evening(IST)
Latest Update: Health care, a prime concern at the moment. As the water is receding in some areas, they are becoming epidemic prone !
This blog has information received from Bihar on flood relief efforts undertaken by AID, AID India and partners. Donations links:
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