Paramita Bannerjee's Instablog Paramita Bannerjee was born and raised in Kolkata, India. She started her stock market career with Kotak Securities and has been the chief contributor to more than 35 corporate and 13 industrial blogs. She specializes in and closely tracks the Technology sector. Paramita Bannerjee http://seekingalpha.com/author/paramita-bannerjee/instablog Robinsons Bank Chooses Infosys Finacle To Support Its Expansion http://seekingalpha.com/instablog/1009180-paramita-bannerjee/1877331-robinsons-bank-chooses-infosys-finacle-to-support-its-expansion?source=feed 1877331 IT major, Infosys Ltd said that Infosys Finacle has been selected by Philippines-based Robinsons Bank in order to support its branch network expansion and business growth. With this new technology transformation program, Robinsons Bank will consolidate and connect the multiple existing systems in use at the Bank as well as aim to reduce cost of operations across all its branches, the company said in a filing to the Bombay Stock Exchange. Commenting on the development, Infosys Finacle, Global Head, Haragopal M, said, "Finacle will power a new core banking and treasury solution for Robinsons Bank that is geared to deliver superior banking experience to its customers. Finacle is already collaborating with 9 banks in Philippines to accelerate their transformation and growth." Moreover, the Bank is in line to expand its branches to 100 in a time frame of three years and integrate recent acquisitions, the filing added. Meanwhile, Finacle will look into the major challenges such as effective localization of the solution and would also help in building relationships with customers through innovative new products and services.

Source - Infosys

]]> Tue, 21 May 2013 01:23:41 -0400 IT major, Infosys Ltd said that Infosys Finacle has been selected by Philippines-based Robinsons Bank in order to support its branch network expansion and business growth. With this new technology transformation program, Robinsons Bank will consolidate and connect the multiple existing systems in use at the Bank as well as aim to reduce cost of operations across all its branches, the company said in a filing to the Bombay Stock Exchange. Commenting on the development, Infosys Finacle, Global Head, Haragopal M, said, "Finacle will power a new core banking and treasury solution for Robinsons Bank that is geared to deliver superior banking experience to its customers. Finacle is already collaborating with 9 banks in Philippines to accelerate their transformation and growth." Moreover, the Bank is in line to expand its branches to 100 in a time frame of three years and integrate recent acquisitions, the filing added. Meanwhile, Finacle will look into the major challenges such as effective localization of the solution and would also help in building relationships with customers through innovative new products and services.

Source - Infosys

]]> infy Tech Stocks Infosys Infosys To Challenge Rs 577 Cr Fresh Tax Notice http://seekingalpha.com/instablog/1009180-paramita-bannerjee/1877321-infosys-to-challenge-rs-577-cr-fresh-tax-notice?source=feed 1877321 India's second largest software exporter Infosys Ltd on Monday said it would challenge the Rs 577 crore tax notice slapped by Indian authorities related to certain tax benefits on income from software development done overseas at the client's location and revenues from SEZs in India. "The company has received the assessment order from the Income tax authorities for fiscal 2009 on May 2, 2013 along with a demand order for an amount of USD 106 million," Infosys said in a filing to the US Securities and Exchange Commission (SEC) last week. "As the company is contesting this position like earlier years, the appellate authority would be approached within the time limit prescribed under the relevant law," the company added. Infosys is already contesting additional income tax demands of USD 214 million for fiscal 2005-2008 on account of disallowance of a portion of the deduction claimed by the company under Section 10A of the Income Tax Act.

Source - Infosys

]]> Tue, 21 May 2013 01:17:55 -0400 India's second largest software exporter Infosys Ltd on Monday said it would challenge the Rs 577 crore tax notice slapped by Indian authorities related to certain tax benefits on income from software development done overseas at the client's location and revenues from SEZs in India. "The company has received the assessment order from the Income tax authorities for fiscal 2009 on May 2, 2013 along with a demand order for an amount of USD 106 million," Infosys said in a filing to the US Securities and Exchange Commission (SEC) last week. "As the company is contesting this position like earlier years, the appellate authority would be approached within the time limit prescribed under the relevant law," the company added. Infosys is already contesting additional income tax demands of USD 214 million for fiscal 2005-2008 on account of disallowance of a portion of the deduction claimed by the company under Section 10A of the Income Tax Act.

Source - Infosys

]]> infy Tech Stocks Infosys Infosys Slapped With Additional Rs 582 Cr Tax Demand Notice http://seekingalpha.com/instablog/1009180-paramita-bannerjee/1877261-infosys-slapped-with-additional-rs-582-cr-tax-demand-notice?source=feed 1877261 Increasing tax woes for India's IT giant, the Income Tax department has slapped a fresh tax demand notice of Rs 582 crore on Infosys.

"The company has received the assessment order from the Income tax authorities for fiscal 2009 on May 2, 2013 along with a demand order for an amount of USD 106 million," Infosys said.

The Bangalore-based IT bellwether, which is already challenging an additional income tax demands of around Rs 1,175 crore for four financial years beginning the year 2005 to 2008, said that it will also take legal action against the fresh tax demand notice.

The company specified that its position in tax cases is strong and it expects to win the matter including four fiscals that is pending before the Commissioner of Income tax (Apeals) Bangalore.

"The management believes that the ultimate outcome of this proceeding will not have a material adverse effect on the company's financial position and results of operations," the company added.

Source - Infosys

]]> Tue, 21 May 2013 01:06:56 -0400 Increasing tax woes for India's IT giant, the Income Tax department has slapped a fresh tax demand notice of Rs 582 crore on Infosys.

"The company has received the assessment order from the Income tax authorities for fiscal 2009 on May 2, 2013 along with a demand order for an amount of USD 106 million," Infosys said.

The Bangalore-based IT bellwether, which is already challenging an additional income tax demands of around Rs 1,175 crore for four financial years beginning the year 2005 to 2008, said that it will also take legal action against the fresh tax demand notice.

The company specified that its position in tax cases is strong and it expects to win the matter including four fiscals that is pending before the Commissioner of Income tax (Apeals) Bangalore.

"The management believes that the ultimate outcome of this proceeding will not have a material adverse effect on the company's financial position and results of operations," the company added.

Source - Infosys

]]> infy Tech Stocks Infosys Vodafone, Idea Relegates Bharti In Customer Nos http://seekingalpha.com/instablog/1009180-paramita-bannerjee/1867481-vodafone-idea-relegates-bharti-in-customer-nos?source=feed 1867481 Driven by expansion in rural customer base, Vodafone overtook Bharti Airtel, India's leading mobile phone company by revenue and customers, a latest data by Cellular Operators Association of India said. According to COAI data, representing GSM operators, Vodafone and Idea Cellular added more customers in April replacing Bharti Airtel. Vodafone's Indian unit added over 1.4 million customers last month, more than double the 0.6 million that Airtel added. Idea also outperformed Sunil Mittal-promoted telco by adding over 1.3 million subscribers last month. Besides, the industry body also revealed that GSM operators across India added 3.5 million customers in April, which is a tad below the 5.4 million additions in March. Commenting on development, COAI director general Rajan Mathews said, "The growth attributed the phenomenon to the fact that "bulk of the new GSM activations transpired in category B & C circles, which are typically harder to penetrate." Recently, Vodafone relegated Bharti to become India's leading mobile phone company in rural India, having added 4.9 million rural customers in February and March, compared with 2.6 million added by Airtel in the same period.

Source - Bharti Airtel

]]> Fri, 17 May 2013 02:35:46 -0400 Driven by expansion in rural customer base, Vodafone overtook Bharti Airtel, India's leading mobile phone company by revenue and customers, a latest data by Cellular Operators Association of India said. According to COAI data, representing GSM operators, Vodafone and Idea Cellular added more customers in April replacing Bharti Airtel. Vodafone's Indian unit added over 1.4 million customers last month, more than double the 0.6 million that Airtel added. Idea also outperformed Sunil Mittal-promoted telco by adding over 1.3 million subscribers last month. Besides, the industry body also revealed that GSM operators across India added 3.5 million customers in April, which is a tad below the 5.4 million additions in March. Commenting on development, COAI director general Rajan Mathews said, "The growth attributed the phenomenon to the fact that "bulk of the new GSM activations transpired in category B & C circles, which are typically harder to penetrate." Recently, Vodafone relegated Bharti to become India's leading mobile phone company in rural India, having added 4.9 million rural customers in February and March, compared with 2.6 million added by Airtel in the same period.

Source - Bharti Airtel

]]> Telecom Stocks Bharti Airtel Bharti Airtel Ends Tie-up With Servion; Signs Pact With Genesys http://seekingalpha.com/instablog/1009180-paramita-bannerjee/1867471-bharti-airtel-ends-tie-up-with-servion-signs-pact-with-genesys?source=feed 1867471 India's largest mobile telephone services provider Bharti Airtel has ended its tie-up with Chennai-based Servion Global Solutions which offers customisable hosted contact centre services, to address the hosted contact centre (HCC) market, said a media report.

HCCs are call centres rented out to various companies, including banks and other financial institutions.

The report also added that Airtel has tied-up with US-based Genesys, to offer HCC service purely on a Software as a Service (SaaS)-based model, which supports quicker deployment and ensures faster go-live for customer processes.

The tie-up between Servion and Airtel, was announced in 2010 (when the HCC market was valued at USD 50 million). As per the agreement, while Servion's core activity was delivering CIM solutions and applications for contact centres to enhance customer interactions through phone, internet, email, chat and social media, Bharti Airtel brought in the reach, the brand and the large number of customers into the business.

Source - Bharti Airtel

]]> Fri, 17 May 2013 02:29:27 -0400 India's largest mobile telephone services provider Bharti Airtel has ended its tie-up with Chennai-based Servion Global Solutions which offers customisable hosted contact centre services, to address the hosted contact centre (HCC) market, said a media report.

HCCs are call centres rented out to various companies, including banks and other financial institutions.

The report also added that Airtel has tied-up with US-based Genesys, to offer HCC service purely on a Software as a Service (SaaS)-based model, which supports quicker deployment and ensures faster go-live for customer processes.

The tie-up between Servion and Airtel, was announced in 2010 (when the HCC market was valued at USD 50 million). As per the agreement, while Servion's core activity was delivering CIM solutions and applications for contact centres to enhance customer interactions through phone, internet, email, chat and social media, Bharti Airtel brought in the reach, the brand and the large number of customers into the business.

Source - Bharti Airtel

]]> Telecom Stocks Bharti Airtel T-Bank Implements ‘Infosys Finacle' To Drive Innovation Led Growth http://seekingalpha.com/instablog/1009180-paramita-bannerjee/1867371-t-bank-implements-infosys-finacle-to-drive-innovation-led-growth?source=feed 1867371 T major, Infosys Ltd said that the Turkland Bank (T-Bank), Turkey's leading private bank has implemented Infosys Finacle core banking, CRM and treasury solution to meet the needs of retail and corporate customer segments. The Finacle solution which has a robust and feature rich technology infrastructure has been implemented in 27 branches of the bank, the company said in a filing to the Bombay Stock Exchange. Moreover, the new solution will enable the T-Bank to rapidly design, launch and deliver new products and services.

Source - Infosys

]]> Fri, 17 May 2013 01:39:54 -0400 T major, Infosys Ltd said that the Turkland Bank (T-Bank), Turkey's leading private bank has implemented Infosys Finacle core banking, CRM and treasury solution to meet the needs of retail and corporate customer segments. The Finacle solution which has a robust and feature rich technology infrastructure has been implemented in 27 branches of the bank, the company said in a filing to the Bombay Stock Exchange. Moreover, the new solution will enable the T-Bank to rapidly design, launch and deliver new products and services.

Source - Infosys

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