- TCS and Infosys plan to hire 50,000 and 40,000 employees, respectively, to meet increasing demand from the US and European markets as Indian IT revenue growth returns to double digits. - Sterlite Energy has increased its planned investment in a Punjab power project by over Rs. 3,000 crore and received approval to add a 660 MW unit. - ICICI Bank launched an instant cross-border money transfer service for NRIs to send funds to India through partners in Gulf countries. - The market regulator will increase the retail investment limit in IPOs to Rs. 2 lakh, the first rise in five years, but it may disproportionately benefit wealthy investors without increasing the overall

1. By :By :
Lakhvir SinghLakhvir Singh
Weekly NewsWeekly News
(18-24 Oct.)(18-24 Oct.)

2. TCS, Infosys plan to hire 50,000TCS, Infosys plan to hire 50,000
& 40,000 respectively& 40,000 respectively
 With double-digit revenue growth returning to theWith double-digit revenue growth returning to the
$60 billion Indian IT-ITeS sector , top IT players,$60 billion Indian IT-ITeS sector , top IT players,
including TCS and Infosys, are stepping up theirincluding TCS and Infosys, are stepping up their
hiring plans for the next few quarters to meet thehiring plans for the next few quarters to meet the
reviving demand in the US and European markets.reviving demand in the US and European markets.

3. Sterlite to invest over Rs 3k cr more on PunjabSterlite to invest over Rs 3k cr more on Punjab
power projectpower project
 Vedanta Group firm Sterlite Energy has revised theVedanta Group firm Sterlite Energy has revised the
outlay for its proposed power project in Punjaboutlay for its proposed power project in Punjab
upwards by over Rs 3,000 crore.upwards by over Rs 3,000 crore.
 The Punjab government had recently given the nod toThe Punjab government had recently given the nod to
Sterlite Energy to add one more unit of 660 MW toSterlite Energy to add one more unit of 660 MW to
the upcoming thermal project at Talwandi Sabo.the upcoming thermal project at Talwandi Sabo.
 The Talwandi Sabo project has got coal linkages fromThe Talwandi Sabo project has got coal linkages from
Coal India's subsidiaries -- Mahanadi Coal LimitedCoal India's subsidiaries -- Mahanadi Coal Limited
and the South Eastern Coal Limited coal fieldsand the South Eastern Coal Limited coal fields

4. Cont.Cont.
 The Talwandi Sabo project has got coal linkages fromThe Talwandi Sabo project has got coal linkages from
Coal India's subsidiaries -- Mahanadi Coal LimitedCoal India's subsidiaries -- Mahanadi Coal Limited
and the South Eastern Coal Limited coal fieldsand the South Eastern Coal Limited coal fields

5. ICICI Bank launches NRI remittance serviceICICI Bank launches NRI remittance service
 ICICI Bank has announced the launch of I-ExpressICICI Bank has announced the launch of I-Express
(the option of visiting any partner outlet for instant(the option of visiting any partner outlet for instant
credit into the beneficiary account maintained withcredit into the beneficiary account maintained with
ICICI Bank in India), an instant cross-border moneyICICI Bank in India), an instant cross-border money
transfer option for non-resident Indians (NRIs).transfer option for non-resident Indians (NRIs).
 The service would be available through the ICICIThe service would be available through the ICICI
Bank's select partners in the Gulf countriesBank's select partners in the Gulf countries

6. Diwali gift: Retail investors to be allowed Rs 2Diwali gift: Retail investors to be allowed Rs 2
lakh in IPOlakh in IPO
 Retail investors will get to double their bets on initialRetail investors will get to double their bets on initial
public offerings as the market regulator is set to raisepublic offerings as the market regulator is set to raise
the limit to Rs 2 lakh, the first revision in five years,the limit to Rs 2 lakh, the first revision in five years,
as it attempts to keep pace with the eroding value ofas it attempts to keep pace with the eroding value of
the rupee.the rupee.
 Hike will enrich the wealthy more than the middleHike will enrich the wealthy more than the middle
class if it is done without an increase in the overallclass if it is done without an increase in the overall
allocation for the retail segment, which is capped atallocation for the retail segment, which is capped at
35%.35%.

7. Diwali gift: Retail investors to be allowed Rs 2Diwali gift: Retail investors to be allowed Rs 2
lakh in IPOlakh in IPO
 Retail investors will get to double their bets on initialRetail investors will get to double their bets on initial
public offerings as the market regulator is set to raisepublic offerings as the market regulator is set to raise
the limit to Rs 2 lakh, the first revision in five years,the limit to Rs 2 lakh, the first revision in five years,
as it attempts to keep pace with the eroding value ofas it attempts to keep pace with the eroding value of
the rupee.the rupee.
 Hike will enrich the wealthy more than the middleHike will enrich the wealthy more than the middle
class if it is done without an increase in the overallclass if it is done without an increase in the overall
allocation for the retail segment, which is capped atallocation for the retail segment, which is capped at
35%.35%.