News digest: BS Awards, Arvind Gupta on banking, invisible bots, and more

BS Awards 2018: Winners show what's possible, says Nirmala Sitharaman

Coffee exports from Araku Valley to high-end stores in Paris and the year’s best start-up have one thing in common. They exemplify corporate India’s leadership excellence, pointed out Defence Minister Nirmala Sitharaman, who expressed her appreciation for India’s corporate leadership while speaking at Business Standard’s Annual awards on Saturday. Read more.

The govt should restore people's faith in the banking system: Arvind Gupta

Arvind Gupta, who has a degree in economics from Banaras Hindu University, is the founder-trustee of Indian Investors Protection Council and has uncovered the connection between NuPower Renewables, of which Deepak Kochhar is the co-founder and chief executive officer, and the Videocon group. Gupta tells Pavan Lall that the government must fix the banking system quickly. Read more.

With automation software, invisible bots could soon replace human workforce

The bots are coming. Finally! US-based Automation Anywhere, founded by four Indians, aims to produce 3 million bots by 2020 — almost five times of what it has now. These bots, or robotic process automation (RPA) software, could replace at least an equal number of human workers when they are set up at client sites. The cost for clients will be a tenth of what they incur now for onshore deployment of employees, and a third of offshore (India) expenses. Read more.

Videocon-ICICI loan case: CBI questions bank officials

The CBI has questioned few ICICI bank officials as part of a preliminary enquiry to find if any quid pro quo was involved in the bank issuing a Rs 32.5 billion loan to the Videocon Group in 2012. Agency officials said they are also studying relevant documents of the transaction and if they come across any evidence that indicates wrongdoing, ICICI bank MD and CEO Chanda Kochhar, her husband Deepak Kochhar along with others could be summoned for detailed questioning. Read more.

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