Informatica India Appoints Sathesh Murthy Managing Director

Informatica, the enterprise cloud data management leader, today announced that Sathesh Murthy, a 14-year Informatica veteran, was appointed to the role of managing director, Informatica India.

Since joining Informatica, Murthy has become an established leader who has successfully led large teams across key products and as managing director he adds setting the strategic direction, managing operations, and driving consistent, high-impact growth for Informatica India – a top business priority for the company.

Informatica India is a key center of innovation, serving as the location of the largest global R&D facility for Informatica and its employees contribute to the development of cutting-edge products that cater to the requirements of customers around the world.

India is a critical and growing office for Informatica, representing all functions within the company – R&D, customer support, professional services, sales, marketing, partner alliances, IT, procurement, human resources, legal and finance.

The Institute of Company Secretaries of India (ICSI Introduces New Syllabus

The Institute of company Secretaries of India introduces new syllabus for Executive and Professional Programmes. The revised syllabus of the Company Secretary course is effective from March 1, 2018. The first examination for CS Executive and CS Professional programme under new syllabus will be held in December 2018 and June 2019 respectively.

 The ICSI has constantly strived towards attaining academic excellence and in order to cater to the academic needs of the students and create a legion of ‘Governance Professionals’ who can serve the corporate world optimally, the Institute undertook the process of revising its syllabus and brought out a unique syllabus which encompasses the innovative concepts of Core, Ancillary and Hybrid Subjects. 

 The Core Subjects aim to create expertise in the future Governance Professionals and in view of this the following have been given emphasis- Company Law, Securities Laws, Insolvency Law, FEMA and GST. The Ancillary Subjects focus upon creation of working knowledge in order to provide support to the Core areas. The following areas are covered under the Ancillary- Accounts, Finance, Taxation, Economic, Business and Commercial Laws and Business and Financial Management. Lastly, Hybrid Subjects ensure integration of Core and Ancillary areas. The Hybrid subjects will cover - Setting up of Business, Governance, Risk and Compliance Management, Drafting, Pleadings and Appearances, Secretarial Audit and Due Diligence, Restructuring and Insolvency Resolution, Corporate Funding, Corporate Disputes etc. 

 Talking about the new syllabus, CS Makarand Lele, President ICSI said, “The Institute of Company Secretaries of India (ICSI) have always strived to impart optimum knowledge to its students by undertaking revision of syllabus intensively from time to time. Further, Government programmes such as Make in India, Start-up India, Skill India and focus on Ease of Doing Business have created mammoth opportunities for Company Secretaries, which in turn have necessitated bringing out a syllabus which can assist the future governance professionals to align with the Government policies”.

The New Syllabus comprises of Eight papers at Executive Programme and Nine papers at Professional Programme including one Paper to be opted by the students out of eight elective papers namely, (i) Banking- Law & Practice; (ii) Insurance- Law & Practice; (iii) Intellectual Property Rights- Laws and Practices; (iv) Forensic Audit; (v) Direct Tax Law & Practice; (vi) Labour Laws & Practice; (vii) Valuations & Business Modelling and (viii) Insolvency- Law and Practice. Inclusion of the subject titled, ‘Multidisciplinary Case Studies’ will definitely be of immense academic value as it will assist phenomenally in developing the comprehension and analytical skills of the students in solving various critical issues that they may face in their professional career.

Highlights of New CS Syllabus:

·               Metamorphosis from theoretical to practical approach

·               Imbibing the innovative concept of Core Areas for Company Secretaries, Ancillary to Core - Areas allied to Core Areas and Hybrid - Combination of Core and Allied areas

·               Introduction of new subjects in Executive Programme and Professional Programme, like, Jurisprudence, Interpretation and General Laws; Setting up of Business Entities and Closure; Financial and Strategic Management etc.

·               Keeping in view the importance and contemporaryness; Elective Subjects have been included in the New Syllabus. Elective subjects focusing on Banking, Insurance, Valuation, Business Modelling, Insolvency, Labour Laws and Forensic Audit will go a long way in enhancing the professional opportunities for Company Secretaries

·               Inclusion of extremely relevant Post Membership Qualification and Certification Courses for the Company Secretaries who could not pursue a particular course of their choice when they were students

·               A judicious allocation of marks to different parts / components of the subjects of New Syllabus (Executive Programme and Professional Programme)

Fisdom in Partnership with Lakshmi Vilas Bank Launches Digital NPS Investments

Fisdom and Lakshmi Vilas Bank have partnered to enable investments in NPS (National Pension Scheme) in a completely digital and paperless manner. With this launch Fisdom is the first Fintech company to provide NPS digitally. This service has been made available on the Fisdom mobile app and Lakshmi Vilas Bank (LVB) will be the Point of Presence for the NPS service. 

Using the fisdom app, any registered user can invest in NPS within couple of minutes without any paperwork; the user can choose the risk profile and fund they want to invest in. After investments, the user can also track the value of their NPS portfolio on the app. 

LVB is lining up an array of services as a part of its digital focus. This association with Fisdom will help the customers plan their finances in a better way. Using this application, the customer will be able to plan their investments under the pension scheme in accordance with their goals. The Fisdom app includes services like getting the KYC done, investing money in various instruments like mutual funds and pension funds, viewing account summary, withdrawing invested money among many other services. 

P Mukherjee, MD & CEO, Lakshmi Vilas Bank said, “It is our continuing endeavor to bring more financial products digitally; through our fintech partner Fisdom, we are glad to bring NPS for everyone and to encourage them to invest smarter. This association will be part of our broader focus on diversifying and offering products and services in the banking and financial space”

Peeush Jain, Head of Transformation and Partnerships, Lakshmi Vilas Bank added, “Going digital is the way to the future; and with this partnership with Fisdom we will be able to offer more services to all the customers digitally” 

Subramanya SV, CEO and Co-founder of Fisdom stated, “We are delighted to partner with Lakshmi Vilas Bank to bring NPS to customers across the country. This new feature of investing in NPS through the Fisdom app, would help everyone make smart pension related investments for their future in a hassle free way.  

Fisdom is a Bangalore based startup that uses cutting edge technology to solve inherent issues with financial investments by making investing easy to understand, quick and highly accessible through a mobile and web app.

ICICI Securities IPO Opens from March 22-26, 2018 and Price Band of Rs 519 to Rs 520 per Equity Share

ICICI Securities Limited (the “Company” or the “Issuer”) proposes to open on Thursday, March 22, 2018, an initial public offering of 77,249,508 Equity Shares of face value of Rs. 5 each for cash at a Price including a Share Premium (the “Offer”) through an Offer for Sale of up to 77,249,508 Equity Shares by ICICI Bank Limited (the “Promoter Selling Shareholder”), including a reservation of up to 3,862,475 Equity Shares for purchase by the ICICI Bank Shareholders for cash at a Price including a Share Premium (“ICICI Bank Shareholders’ Reservation Portion”). The Offer would constitute 23.98% of the Post-Offer Paid-Up Equity Share Capital and the Net Offer (the Offer excluding “ICICI Bank Shareholders’ Reservation Portion”) shall constitute 22.78% of the Post-Offer paid-up Equity Share Capital.

The Price Band has been fixed from Rs. 519 to Rs. 520 per Equity Share. Bids can be made for a minimum lot of 28 Equity Shares and in multiples of 28 Equity Shares thereafter.

The Bid/Offer Period will close on Monday, March 26, 2018. The Promoter Selling Shareholder, in consultation with the Lead Managers, is considering participation by Anchor Investors in accordance with the the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the “SEBI ICDR Regulations”). The Anchor Investor Bid/Offer Period shall be one Working Day prior to the Bid/Issue Opening Date, being March 21, 2018.

The Equity Shares being offered through the Red Herring Prospectus dated March 13, 2018 (the “RHP”) are proposed to be listed on BSE and NSE.

The Book Running Lead Managers (“BRLMs” or “Lead Managers”) to the Offer are DSP Merrill Lynch Limited, Citigroup Global Markets India Private Limited, CLSA India Private Limited, Edelweiss Financial Services Limited, IIFL Holdings Limited and SBI Capital Markets Limited. ICICI Securities Limited is acting as the BRLM – Marketing to the Offer.*

The Promoter Selling Shareholder may, in consultation with the Lead Managers, allocate up to 60% of the QIB Portion to Anchor Investors at the Anchor Investor Allocation Price, on a discretionary basis, out of which at least one-third shall be available for allocation to domestic Mutual Funds only. 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders other than Anchor Investors, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not more than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders and not more than 10% of the Net Offer shall be available for allocation to Retail Individual Bidders in accordance with SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All potential investors, other than Anchor Investors, are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective bank account which will be blocked by the Self Certified Syndicate Banks (“SCSBs”) to participate in the Offer. Anchor Investors are not permitted to participate in the Anchor Investor

Infosys To Open Technology And Innovation Hub In Connecticut; Employ 1000 by 2022

IT major Infosys said it will open its next Technology and Innovation Hub in Hartford, Connecticut and hire 1,000 American workers in the state by 2022.

The Connecticut Technology and Innovation Hub will have a special focus on insurance, healthcare and manufacturing, the firm said in a statement.

According to the statement, Infosys’ investment in Connecticut is a continuation of the company’s commitment to accelerate innovation for American enterprise by amplifying top local talent with the best global talent and shrink the IT skills gap in the marketplace.

“We are excited to announce the expansion of our presence in Connecticut and to create 1,000 technology jobs in the state,” said Ravi Kumar, President, Infosys.

“This investment will further strengthen our ability to serve clients’ needs throughout the New England region and expand the local workforce to help our clients compete in the rapidly digitizing insurance, healthcare and manufacturing sectors. Hartford’s position as the Insurance Capital of the World, paired with Connecticut’s world renowned academic institutions, will place Infosys in close proximity to valued clients and accelerate the recruitment of highly-skilled local talent,” he added.

Infosys said it inaugurated its first Technology and Innovation Hub in Indianapolis, Indiana and has already announced a Technology and Innovation Hub in Raleigh, North Carolina and a Design and Innovation Hub in Providence, Rhode Island.

As part of Infosys’ commitment to boosting American innovation and helping to create the workforce of the future, Infosys Foundation USA has provided multiple grants for classroom technology and computer science training to teachers and schools.

To date, more than 4.7 million students; 13,000 teachers and 21,000 schools across America, including over 3,500 students, 35 teachers and 24 schools in Connecticut, have benefited from computer science training and classroom equipment funded by Infosys Foundation USA.

This includes grants for professional development for teachers, hands on workshops for students, and new technology and teaching aids for classrooms, with an emphasis placed on serving underrepresented groups such as women, African-American, Latino, urban, rural and autistic groups that will gain greater access to computer science and maker education.