Month: May 2011

B-1 Visa Investigation to cost Infosys + TCS + Wipro

by

Infosys has received a subpoena from a Grand Jury in the US District Court (DC) for the Eastern District of Texas. The subpoena requires Infosys to provide documents and records related to its sponsorships for and uses of B1 visas.

You should recall that Senator Grassley had, in a letter to DoS and DHS (April 14, 2011), questioned the “B-1 in lieu of H-1B” policy, stating that it may be misused to evade the H-1B visa cap, referencing the Palmer vs. Infosys case.

Read moreB-1 Visa Investigation to cost Infosys + TCS + Wipro

Is SpeakAsia the Ponzi scheme like Madoff ?

by

There is very famous proverb in Gujarati literature that “The cheaters are never starved wherever the misers dwell”. Nowadays the name of “Speak Asia” has not only become talk of the nation but it is selling like a hot cake. This company has launched very lucrative scheme to fish out innocent investors as it offers Rs. 1000 return every week if they invest Rs. 11,000 for one year.

How Does Speak Asia Ponzi like Scheme Works ?
It is very simple scheme in which even illiterate person can also participate very easily. You have to register your name with the

Read moreIs SpeakAsia the Ponzi scheme like Madoff ?

Why SBI profits Fell by 99% ?

by

India’s Largest Bank, the State Bank of India reported Q4FY11 PAT of Rs 209mn, 99% below consensus, primarily on lower NII, higher costs and provisions.

SBI has hiked lending rates by 100 bps (50 bps higher than other banks a catch-up rather than a proactive measure) in 1QFY2012 to offset some of the pressure in margins witnessed. The bank has now fully provided for pension liability of Rs117bn on account of wage hike Rs79 bn through reserves and Rs24.7 bn through profit and loss account during the

Read moreWhy SBI profits Fell by 99% ?