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At townhall, Sachin Bansal concedes that Flipkart missed targets India’s largest e-commerce marketplace Flipkart has seengrowth stagnate and has come under pressure from global rival Amazon for the past year and a half. While the company has on many occasions tried to bury media reports on layoffs and high-level exits, in a rather frank discussion with employees on Friday co-founder   Sachin Bansal   admitted that the company has indeed missed targets. Bansal, in a townhall meeting with around 200 employees at Flipkart’s headquarters in Bengaluru, addressed their concerns over recent layoffs by saying that even the top management was not exempt from scrutiny over performance, including himself. Bansal who stepped down as the CEO of Flipkart in January this year, said that the move was “performance linked”. The frankness of the co-founder might be a rare occasion where top executives at large companies news   admit to their failures, but it’s also the first time ...

Banks must not wait for growth to clean their balance sheets. Rather, growth will come once the books are cleaned, said Reserve Bank of India (RBI) governor Raghuram Rajan on Thursday. He did so while rapping the lenders for abusing the tools offered by the central bank to fight bad debt, to instead hide the extent of bad loans. The recent clean-up operation has the central government’s blessings, he noted. Central bank officials had a series of meeting with the government, including at the “highest,” before coming up with its asset quality review (AQR) that is now causing havoc in banks’ quarterly numbers, throwing up heavy NPAs in the books, revealed the governor. Read Full Article Over Here :  Business Standard News

After contracting in the previous month, manufacturing registered a four-month high growth in January following inflows of new business from both domestic and export sources, showed a widely tracked Nikkei purchasing managers'index (PMI) survey. However, investment goods output and new orders fell which may have impact on future growth of manufacturing. However, inflationary pressures remained on upside because of which a commentator associated with PMI does not expect the Reserve Bank of India to cut the policy rate on Tuesday.  Read Full Article Over Here :  Business Standard News