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India outsourcing under scanner after $45-mn global ATM heist

Last Updated: Friday, May 10, 2013, 17:52

Outsourcing of jobs by global financial institutions to Indian shores has come under scanner, with the perpetrators of a USD 45-million worldwide ATM heist apparently breaching computer systems of a payment processing firm in India for their con job.

Sharma hopes Obama won't rock the outsourcing boat

Last Updated: Wednesday, February 13, 2013, 18:57

Commerce and Industry Minister Anand Sharma on Wednesday expressed hope the US administration's proposal to end the tax incentives on outsourcing companies will not impact the growing bilateral trade relations between the two nations.

India outsourcing failure blamed for $2.3bn loss by UBS trader

Last Updated: Monday, November 26, 2012, 17:20

This is the third instance when outsourcing of key oversight jobs by global banks (British giants HSBC and Standard Chartered being the other two) to India has come under the regulatory scanner abroad for ineffective controls against suspicious financial transactions.

India needs to lobby better on outsourcing: Bhagwati

Last Updated: Wednesday, November 21, 2012, 22:48

With jobs a continuing issue, any time politicians in the US condemn outsourcing, we lose brownie points," he said.

Obama’s oppn to outsourcing targetted at manufacturing, not IT: NASSCOM

Last Updated: Wednesday, November 07, 2012, 21:31

As Barack Obama was re-elected US President, India's IT industry body NASSCOM said opposition to outsourcing in the US is actually targetted at the manufacturing sector and not IT services.

India Inc happy with Obama's win; outsourcing still a concern

Last Updated: Wednesday, November 07, 2012, 12:39

Business leaders Wednesday said that re-election of Barack Obama as the US President will be good for global economic recovery and expressed the hope that issues on outsourcing to India will be resolved.

After HSBC, StanChart's India outsourcing under US scanner

Last Updated: Tuesday, August 07, 2012, 15:11

Outsourcing of key oversight jobs by global banks to India has come under the scanner for the second time in less than a month for exposing the US financial system to terrorists and money laundering risks.

Clarity on sourcing norms to IKEA soon: Sharma

Last Updated: Thursday, July 19, 2012, 23:20

The government will soon provide clarity to Swedish furniture major IKEA on norms pertaining to mandatory sourcing from local, small suppliers by foreign single brand retailers in India

Australian regulator to assess Indian outsourcing standards

Last Updated: Wednesday, July 04, 2012, 11:27

A team of Australian Prudential Regulation Authority will visit India later this year to evaluate standards of Indian service providers.

India has an edge in outsourcing services: Convergys

Last Updated: Sunday, October 30, 2011, 17:22

Notwithstanding competition from countries like Philippines and Vietnam, India remains an attractive destination for outsourcing services on account of its talented workforce, according to BPO major Convergys.