INDIAN PARENTS
From India, with intelligence: How Indian GCCs are driving parent firms' successes
From India-made products that have helped retail giant Tesco increase its profits in the triple-digit million pounds range, to personalised recommendations at Verizon that have made every store visit faster by seven minutes, to Gen AI tools that enhance developer productivity between 10-25% at Goldman Sachs, Indian GCCs have come a long way in becoming strategic partners to their parent organisations, finds Beena Parmar.
Oyo parent raises Rs 1,457 crore in latest funding round
Oravel Stays Ltd, the parent company of OYO, secured Rs 1,457 crore from several investors, including InCred Wealth, J&A Partners, and ASK Financial Holdings. This funding round will aid OYO's growth and global expansion. Additionally, Sumer Juneja from SoftBank was appointed as a Non-Executive Director on the company's Board.
Winning bet: India Inc players also ace the sports game
Corporate-owned professional sports teams in India experienced a surge in earnings during 2023-24, particularly in cricket. Entities like Reliance Industries and United Spirits saw their teams' revenues increase, driven by higher central revenue from the BCCI. In contrast, football teams struggled with modest revenue growth and profitability.
Mamaearth parent Honasa to discontinue ayurvedic beauty brand Ayuga
Following the discontinuation of Ayuga, Honasa Consumer will have six brands in its portfolio – Mamaearth, its largest brand, The Derma Co, Aqualogica, Dr Sheth’s, BBlunt, and Staze, under which the company sells colour cosmetics products.
India Inc rolls out benefits for employees’ parents, in-laws
India Inc is shifting focus to providing caregiver support for employees with ageing parents and in-laws due to the country's growing elderly population. Companies such as HSBC, Deutsche Bank, Accenture, SAP, and GlobalLogic are offering benefits like elder care leave, mental health counselling, and wellness apps to help employees fulfill caregiving responsibilities. This trend is expected to continue as the need for such initiatives grows with the ageing population.
High Court stops case of siblings suing parents for abuse and TV ban
The Madhya Pradesh high court halted a case involving siblings, aged 24 and 11, accusing their parents of physical abuse and restricting TV and mobile access. Charges were filed under the Juvenile Justice Act and Indian Penal Code. The siblings now live with their paternal aunt and have refused to return home, citing family disputes.
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As India grows older, a secret shame emerges: Elders abandoned by their children
In its traditions, in its religious tenets and in its laws, India has long cemented the belief that it is a child's duty to care for his aging parents. But in a land known for revering its elderly, a secret shame has emerged: A burgeoning population of older people abandoned by their own families.
Paris Olympics: "Big news for whole country," Manu Bhaker's parents share joy as shooter scripts history
Olympics 2024: Ace Indian shooter Manu Bhaker's father, Ramkrishna Bhaker expressed his feelings as her daughter made history on Tuesday when she became the first Indian to win two medals at the same Olympics.
Kamala Harris family: Husband, two step-children, Indian mother
Kamala Harris' parents, husband, and family details have become a topic of curiosity. We have all details.
Emotional reactions pour in as Hardik Pandya and Natasa Stankovic confirm separation
Indian cricketer Hardik Pandya and actress Natasa Stankovic have announced their separation after four years of marriage. Despite their efforts to stay together, they decided to part ways mutually, prioritizing their son Agastya's well-being. Their joint statement highlighted their commitment to co-parenting. The couple's split follows months of speculation and social media hints about their relationship status.
Hardik Pandya-Natasa Stankovic call it quits: Netizens promise cricketer that all Indians are with him
For months, sharp-eyed internet users were determined to prove that things were not right between star cricketer Hardik Pandya and his wife, actress-model Natasa Stankovic. After months of staying silent amid rumors of a looming divorce, the couple confirmed that they were splitting up.
HDFC Bank stands prepared to reap benefits of merger with parent: Chairman Atanu Chakraborty
HDFC Bank's successful merger with HDFC Limited has brought significant benefits, as discussed by Atanu Chakraborty in a shareholder address. Within a year, seamless integration has led to expanded home loan offerings in semi-urban and rural areas and established robust risk management and compliance. Both HDFC Bank and the Indian economy showed resilience amidst global uncertainties and inflation, backed by timely RBI interventions and sound policies. Adjusting to evolving liquidity, India’s GDP grew 8.2% last year, with a 7.2% projection for the current year.
Puja Khedkar's parents 'on the run' after FIR filed against them: Police
Pune Rural SP Pankaj Deshmukh mentioned that multiple teams, including officials from local crime branches and police stations, are conducting searches in Pune and nearby areas where the accused have properties.
Chandrika Dixit eliminated from 'Bigg Boss OTT 3'. Will she sell vada pav again?
Chandrika Dixit, known as the 'Vada Pav Girl' on 'Bigg Boss OTT 3', was evicted in the show's third week after receiving the least public votes. Her stint was marked by controversies and criticism for her role in house conflicts. Host Anil Kapoor criticized her for inconsistency and playing the victim. The episode also featured emotional moments with Vishal Pandey's parents criticizing Armaan Malik.
Captain Anshuman Singh's parents allege daughter-in-law took everything, demand 'Next of Kin' policy revision
The parents of Captain Anshuman Singh, who died in Siachen, urge the Indian Army to revise its 'next of kin' (NOK) criteria. They express concerns over NOK rules, highlighting that the current system favors spouses over parents. They call for changes to ensure fair treatment and support for all family members of deceased soldiers.
Social media companies list out worries as Centre readies data protection rules
Social media platforms have said that undoing behavioural tracking of children and targeted advertisements are among the biggest concerns they have with the new data law the government is prepping. The companies are voicing their concerns as rules of the Digital Personal Data Protection (DPDP) Act will be released soon.
How Indian-American businessman duped Goldman Sachs of Rs 8,300 crore
Rishi Shah, co-founder of Outcome Health, has been sentenced to seven and a half years in prison for his role in a $1 billion fraud scheme involving high-profile investors like Goldman Sachs and Google's parent company, Alphabet. The scheme, which included inflating advertising inventory and deceiving investors and clients, was uncovered in 2017. Shah's extravagant lifestyle, funded by fraudulent activities, included private jets and yachts. His sentencing marks the conclusion of one of the largest corporate fraud cases in recent history, highlighting the consequences of deceptive business practices.
Parents' fascination with English-medium schools no less than suicide: NCERT chief
NCERT Director D. P. Saklani criticized the prevalent preference for English-medium schools, despite many lacking trained teachers, calling it "no less than suicide." Highlighting that government schools now offer quality education, he emphasized the new National Education Policy’s focus on teaching in mother tongue to prevent knowledge loss and reconnect children with their roots and culture.
Nestle India revises record date for dividend payment, scraps increasing royalty fee to parent
Nestle India changed the record date for final dividend payment to July 16, recommended Rs 8.5 dividend per share, if approved by the AGM which is set to meet on July 8.
Why negligent parents have bigger responsibility in juvenile crimes
While the juvenile involved in the Porsche crash in Pune must undoubtedly face the consequences for his actions, the primary burden of responsibility should rest upon adults
Security guard's dream of visiting Ayodhya Ram Mandir fulfilled by influencer: Watch heartwarming viral video
Indian Instagram influencer Anish Bhagat touched hearts by fulfilling his society's security guard's dream to visit Ayodhya Ram Mandir. Bhagat, moved by the guard's story of abandonment by his son, took him on a surprise journey to the temple, capturing the emotional moments in a viral video. The act of kindness received widespread praise on social media, highlighting the power of empathy and human connection.
Indya and FabAlley's parent co raises Rs 50 crore from investors led by Sangita Jindal
High Street Essentials (HSE), the parent company of women’s fashion brands Indya and FabAlley, secures Rs 50 crore in funding led by Sangita Jindal of JSW Foundation. This investment will fuel Indya's expansion in the occasion wear and wedding market, leveraging strategic designer collaborations and global expansion plans. The company aims to open 10 new wedding stores this year and expand its international retail presence.
'Pet parents, not owners': Indians make space for pet products in monthly expenditure
Millennials and Gen Z are reshaping India's economy, driving e-commerce, cafe spaces, convenience services, and the expanding pet care industry. The shift to 'pet parents' is fueling demand for quality pet products and services, including oral care and premium treats.
Nestle India shareholders vote against increase in royalty to Swiss parent
Shareholders in Nestle India have rejected a company proposal to increase royalty payments to its Swiss parent Nestle, the company said late on Friday.
Swiggy, Meesho investor Prosus and parent Naspers name Fabricio Bloisi as CEO
Fabricio Bloisi appointed chief executive of Prosus and Naspers, succeeding Bob van Dijk. Bloisi, current CEO of iFood, a food delivery business in Latin America, will start on July 1. Interim CEO Ervin Tu has been appointed president and chief investment officer. Outgoing CEO Dijk oversaw Prosus's 2019 IPO and the stock's upbeat performance during the pandemic.
Oberoi parent EIH gets into branded residences in Mumbai
The Oberoi Group launches The Oberoi Residential Suites in Mumbai, offering luxury amenities and modern design. EIH Limited reports a 28% revenue increase, with profits after tax up by 55% from the previous year.
Groww moves domicile to India from the US
Increasing number of large startups across sectors looking to shift from US, Singapore
Outcome of tax disputes holds key to Xiaomi’s ops
Xiaomi Technology India's ability to continue as a going concern depends on the outcome of multiple regulatory and tax disputes and additional funds from the Chinese parent. However, the company doesn't see a threat "for the foreseeable future" based on legal opinions obtained and cash flow projections. Xiaomi has faced multiple investigations and legal proceedings launched by income tax authorities, the Directorate of Enforcement, and the customs department on matters such as alleged evasion of custom duty and irregularities in royalty payments.
A tip from tipper on how to chill to music
Today, music can be far more explicit than it was in Tipper-era America. What was OMG yesterday has become meh today.
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