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TCS to use Chennai centre for e-passport service
Tata Consultancy Services (TCS), the country’s largest IT services provider, will use the new data centre — which was set up by the Software Technology Parks of India (STPI) — in Chennai as a disaster recovery for its e-passport service.

Institutional investors reduce commitments in PE funds: Preqin
Institutional investors are exercising caution when it comes to their commitment towards private equity funds and the volume of funds raised in the second quarter this year fell by more than half to $79.7 billion over the same period last year, says a survey.

News of the day

BoB, Andhra Bank risk JV may kick off in Dec
Bank of Baroda (BoB), Andhra Bank and Legal & General’s insurance joint Venture, IndiaFirst Life Insurance Co, has received all regulatory approvals for its products, and would launch operations in the second or third week of December, P Nandagopal, chief executive officer, IndiaFirst Life Insurance, said.
Public Relations

Rupee starts New Year on weak note, sheds 7 paise

The rupee depreciated by 7 paise against the dollar on the first day of New Year today due to firm demand for the US currency which rose to three-month high against other major currencies. - Rupee to appreciate further - Dollar set for weekly drop on continuing stimulus buzz - Rupee gains 12 paise against in early trade - Palm oil declines for third day on low appeal - Rupee falls by 4 paise in opening trade - Rupee gains 4 paise in early trade At the Interbank Foreign Exchange (Forex) market, the domestic unit traded 7 paise down at 46.60 a dollar. The rupee had ended 21 paise higher at 46.53/54 a dollar in the previous trading. Dealers said the dollar rose to a three-month high against Japanese yen after reports that US jobless claims fell to the lowest since 2008 putting pressure on the Indian rupee. Demand for the dollar from oil refiners and importers also weighed on rupee sentiment, they said.


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