It is now widely accepted that there is a possibility of artificial intelligence (AI) replacing humans at work. Despite experts raising concerns, tech entrepreneurs have been upbeat about the potential benefits of using AI.

The CEO of Indian IT behemoth Infosys, Salil Parekh, recently said the firm has been using generative AI to service 50 of its client projects.

“We have today 50 active client projects where we are using generative AI and this is becoming an increasing part of the new world which is going to be defined on an AI-first basis,” Parekh said, according to Moneycontrol.com.

These remarks came during Infosys’ 42nd annual general meeting on Wednesday, where the use of AI was discussed prominently among shareholders.&nbsp;

During the meeting, Infosys rolled out its artificial intelligence (AI)-the first strategy with a sharp focus on generative AI.

Parekh has been the driving force behind the integration of generative AI into Infosys’ service offerings. He believes that this technology has the capability to strengthen the future of businesses worldwide.

<h2>Generative AI</h2>

Generative AI refers to AI systems that generate new content, ideas, or solutions based on existing data or patterns. It has the potential to enhance productivity, automate tasks, and drive innovation across various industries.

By leveraging generative AI, Infosys can provide its clients with advanced solutions and services that harness the power of artificial intelligence, Infosys said, according to its website.

The company further said that it was engaging with over 300 clients regarding integrating its AI services, called Infosys Topaz.

<h2>Nilekani cautious </h2>

Chairman Nandan Nilekani, however, struck a cautionary note saying that despite the progress in generative AI, complexities and unresolved issues are associated with its implementation.

Practical considerations, ethical concerns, and intellectual property-related matters must be addressed when scaling&nbsp;AI&nbsp;in the enterprise, he said.

“The AI-first strategy we have embraced is already working for us. We have redesigned our organisation to judiciously balance people, technology, and process while also executing work by segmenting it into cognitive tasks. Today, we can bring to our global clientele the same ability to accelerate business value and amplify human potential using AI technologies with Infosys Topaz,” said Nilekani, according to Business Standard newspaper.

(With inputs from agencies)

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

It is now widely accepted that there is a possibility of artificial intelligence (AI) replacing humans at work. Despite experts raising concerns, tech entrepreneurs have been upbeat about the potential benefits of using AI.

It is now widely accepted that there is a possibility of artificial intelligence (AI) replacing humans at work. Despite experts raising concerns, tech entrepreneurs have been upbeat about the potential benefits of using AI. The CEO of Indian IT behemoth Infosys, Salil Parekh, recently said the firm has been using generative AI to service 50 of its client projects. “We have today 50 active client projects where we are using generative AI and this is becoming an increasing part of the new world which is going to be defined on an AI-first basis,” Parekh said, according to Moneycontrol.com. These remarks came during Infosys’ 42nd annual general meeting on Wednesday, where the use of AI was discussed prominently among shareholders. During the meeting, Infosys rolled out its artificial intelligence (AI)-the first strategy with a sharp focus on generative AI. Parekh has been the driving force behind the integration of generative AI into Infosys’ service offerings. He believes that this technology has the capability to strengthen the future of businesses worldwide. Generative AI Generative AI refers to AI systems that generate new content, ideas, or solutions based on existing data or patterns. It has the potential to enhance productivity, automate tasks, and drive innovation across various industries. By leveraging generative AI, Infosys can provide its clients with advanced solutions and services that harness the power of artificial intelligence, Infosys said, according to its website. The company further said that it was engaging with over 300 clients regarding integrating its AI services, called Infosys Topaz. Nilekani cautious Chairman Nandan Nilekani, however, struck a cautionary note saying that despite the progress in generative AI, complexities and unresolved issues are associated with its implementation. Practical considerations, ethical concerns, and intellectual property-related matters must be addressed when scaling AI in the enterprise, he said. “The AI-first strategy we have embraced is already working for us. We have redesigned our organisation to judiciously balance people, technology, and process while also executing work by segmenting it into cognitive tasks. Today, we can bring to our global clientele the same ability to accelerate business value and amplify human potential using AI technologies with Infosys Topaz,” said Nilekani, according to Business Standard newspaper. (With inputs from agencies) WATCH WION LIVE HERE

Infosys using generative AI to handle 50 client projects, says CEO Parekh

A 23-year-old woman, named Bhanurekha, died after drowning in the waterlogged underpass in Bengaluru, a city in the South Indian state of Karnataka, on Sunday.

Her car got stuck in neck-deep water at the KR Circle underpass, which is close to Vidhana Soudha, the seat of power in Karnataka.

As per news agency PTI, fire and emergency services personnel saved the driver and five other members of the family with the help of people who had rushed to the scene to free those trapped.

The victims were taken to St Martha's Hospital where doctors declared Bhanurekha dead.

<h2>Karnataka CM meets family of deceased woman</h2>

Karnataka Chief Minister Siddaramaiah on Sunday met the family members of the deceased and offered condolences.

He announced a compensation of Rs 5 Lakh (6,035.60 USD) and free treatment for Bhanurekha's kin admitted to the hospital.

"The family from Vijayawada in Andhra Pradesh had hired a car and come to see Bengaluru. Bhanurekha works in Infosys. Due to the downpour, the barricade at the underpass fell down and the driver took the risk of crossing the underpass, which he should not have," Siddaramaiah told reporters.

On being asked if the doctors refused to treat the 23-year-old when she was brought to the hospital while she was alive, Siddaramaiah said he will get the incident investigated and initiate action accordingly.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
Karnataka CM Siddaramaiah met the family members of 23-year-old woman Bhanurekha who died after drowning in the waterlogged underpass in KR Circle area in Bengaluru. <a href="https://t.co/aqQW3yG0Qy">pic.twitter.com/aqQW3yG0Qy</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1660307414762291202?ref_src=twsrc%5Etfw">May 21, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

&nbsp;

As per news agency PTI, the people present at the spot said that the car driver tried to zoom through the water, but in the middle of the underpass, the car almost got submerged. The occupants of the vehicle came out frantically trying to save themselves.

People nearby rushed when they heard the family's outcry for help and threw sarees, and ropes in order to help them keep afloat. While two of them were dragged out by swimmers of the emergency services personnel, others were brought out using a ladder.

<h2>Building collapses in Bengaluru as heavy rains lash city</h2>

According to the officials, an old building collapsed in Bengaluru's Vidyaranyapura as heavy rains lashed the city on Sunday.

No casualties were reported in the incident.

India Meteorological Department (IMD) released a statement saying that the onset of monsoon over Kerala is likely to be delayed this year, predicting its arrival on June 4, four days after the normal date predicted on June 1.

"Southwest monsoon normally sets in over Kerala on June 1 with a standard deviation of about 7 days. India Meteorological Department (IMD) has been issuing operational forecasts for the date of monsoon onset over Kerala from 2005 onwards. An indigenously developed state-of-the-art statistical model with a model error of +- 4 days is used for the purpose," IMD stated.

(With inputs from agencies)

&nbsp;

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

A 23-year-old woman, named Bhanurekha, died after drowning in the waterlogged underpass in Bengaluru, a city in the South Indian state of Karnataka, on Sunday. Her car got stuck in neck-deep water at the KR Circle underpass, which is close to Vidhana Soudha, the seat of power in Karnataka.

A 23-year-old woman, named Bhanurekha, died after drowning in the waterlogged underpass in Bengaluru, a city in the South Indian state of Karnataka, on Sunday. Her car got stuck in neck-deep water at the KR Circle underpass, which is close to Vidhana Soudha, the seat of power in Karnataka. As per news agency PTI, fire and emergency services personnel saved the driver and five other members of the family with the help of people who had rushed to the scene to free those trapped. The victims were taken to St Martha's Hospital where doctors declared Bhanurekha dead. Karnataka CM meets family of deceased woman Karnataka Chief Minister Siddaramaiah on Sunday met the family members of the deceased and offered condolences. He announced a compensation of Rs 5 Lakh (6,035.60 USD) and free treatment for Bhanurekha's kin admitted to the hospital. "The family from Vijayawada in Andhra Pradesh had hired a car and come to see Bengaluru. Bhanurekha works in Infosys. Due to the downpour, the barricade at the underpass fell down and the driver took the risk of crossing the underpass, which he should not have," Siddaramaiah told reporters. On being asked if the doctors refused to treat the 23-year-old when she was brought to the hospital while she was alive, Siddaramaiah said he will get the incident investigated and initiate action accordingly. Karnataka CM Siddaramaiah met the family members of 23-year-old woman Bhanurekha who died after drowning in the waterlogged underpass in KR Circle area in Bengaluru. pic.twitter.com/aqQW3yG0Qy — ANI (@ANI) May 21, 2023 × As per news agency PTI, the people present at the spot said that the car driver tried to zoom through the water, but in the middle of the underpass, the car almost got submerged. The occupants of the vehicle came out frantically trying to save themselves. People nearby rushed when they heard the family's outcry for help and threw sarees, and ropes in order to help them keep afloat. While two of them were dragged out by swimmers of the emergency services personnel, others were brought out using a ladder. Building collapses in Bengaluru as heavy rains lash city According to the officials, an old building collapsed in Bengaluru's Vidyaranyapura as heavy rains lashed the city on Sunday. No casualties were reported in the incident. India Meteorological Department (IMD) released a statement saying that the onset of monsoon over Kerala is likely to be delayed this year, predicting its arrival on June 4, four days after the normal date predicted on June 1. "Southwest monsoon normally sets in over Kerala on June 1 with a standard deviation of about 7 days. India Meteorological Department (IMD) has been issuing operational forecasts for the date of monsoon onset over Kerala from 2005 onwards. An indigenously developed state-of-the-art statistical model with a model error of +- 4 days is used for the purpose," IMD stated. (With inputs from agencies) WATCH WION LIVE HERE

Woman drowns after car gets stuck in neck-deep water at Bengaluru underpass

British Prime Minister Rishi Sunak and his wife Akshata Murthy's consolidated wealth declined in the last 12 months. However, the couple with a net worth of $668 million still remains immune from the cost of living crisis which remains dominant on the political agenda of the United Kingdom. 
 
The power couple has been currently ranked in the 275th position in the Sunday Times Rich List, falling from their 222nd position last year because of the decline in value of their stake in India's IT giant Infosys, which has been founded by Akshata Murthy's father N R Narayana Murthy. 
 
“Over the past year, their wealth has fallen by more than half a million pounds a day. When the pair made their debut on the Rich List 12 months ago, this stake was worth about GBP 690 million. Since then Infosys' shares have plummeted owing to lower revenues from its banking, tech and other clients,” stated an analysis published in the Sunday Times Rich List.

ALSO READ |&nbsp;<a href="https://www.wionews.com/world/rishi-sunak-no-longer-committed-to-bringing-net-migration-below-250000-593785">UK PM Rishi Sunak no longer committed to bringing net migration below 250,000</a>

<h2>Sunak's wealth declined from&nbsp;$908 million to $658 million</h2>

As United Kingdom's PM, Sunak earns an annual salary of around $205,367. When he took the position of prime minister last October, his income increased from the general lawmaker rate but it was not enough to cushion the decline in his wealth which was estimated at $908 million last year to $658 million in 2023. 
 
Because of his fortune, Sunak faces&nbsp;regular attacks from opposition politicians who claim that he is out of touch with people from the ordinary class at a time when citizens of Britain are getting poorer. 
 
Inflation in the country stands at over 10 per cent and people's wages have not increased frequently which has resulted in squeezing household incomes and causing a "cost of living crisis". Sunak took the pledge to halve inflation and enhance the economy to address the issue.

WATCH |&nbsp;UK inflation at 10-year-high, says report; PM Rishi Sunak claims economy is looking up | WION

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/uk-inflation-at-10-year-high-says-report-pm-rishi-sunak-claims-economy-is-looking-up-wion-593673/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Sunak is 10 Downing Street's richest occupant ever but he has constantly appealed to people to not hold his wealth against him. 
 
"I think in our country, we judge people not by their bank account, we judge them by their character and their actions. And yes, I'm really fortunate to be in the situation I'm in now, but I wasn't born like this," Sunak had said last year. 
 
Sunak's wife Akshata had also faced public anger and criticism in April over her "non-domiciled" tax status which meant she was not required to pay tax in Britain on the earnings she made abroad. Subsequently, she gave up the status and agreed to pay British tax on her global income.&nbsp; 
 
(With inputs from agencies)

<main>
<section>
You can&nbsp;now write for&nbsp;wionews.com&nbsp;and be a part of the community. Share your stories and opinions with us&nbsp;<a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>
</section>
</main>

British Prime Minister Rishi Sunak and his wife Akshata Murthy's consolidated wealth declined in the last 12 months. However, the couple with a net worth of $668 million still remains immune from the cost of living crisis which remains dominant on the political agenda of the United Kingdom.

British Prime Minister Rishi Sunak and his wife Akshata Murthy's consolidated wealth declined in the last 12 months. However, the couple with a net worth of $668 million still remains immune from the cost of living crisis which remains dominant on the political agenda of the United Kingdom. The power couple has been currently ranked in the 275th position in the Sunday Times Rich List, falling from their 222nd position last year because of the decline in value of their stake in India's IT giant Infosys, which has been founded by Akshata Murthy's father N R Narayana Murthy. “Over the past year, their wealth has fallen by more than half a million pounds a day. When the pair made their debut on the Rich List 12 months ago, this stake was worth about GBP 690 million. Since then Infosys' shares have plummeted owing to lower revenues from its banking, tech and other clients,” stated an analysis published in the Sunday Times Rich List. ALSO READ | UK PM Rishi Sunak no longer committed to bringing net migration below 250,000 Sunak's wealth declined from $908 million to $658 million As United Kingdom's PM, Sunak earns an annual salary of around $205,367. When he took the position of prime minister last October, his income increased from the general lawmaker rate but it was not enough to cushion the decline in his wealth which was estimated at $908 million last year to $658 million in 2023. Because of his fortune, Sunak faces regular attacks from opposition politicians who claim that he is out of touch with people from the ordinary class at a time when citizens of Britain are getting poorer. Inflation in the country stands at over 10 per cent and people's wages have not increased frequently which has resulted in squeezing household incomes and causing a "cost of living crisis". Sunak took the pledge to halve inflation and enhance the economy to address the issue. WATCH | UK inflation at 10-year-high, says report; PM Rishi Sunak claims economy is looking up | WION Sunak is 10 Downing Street's richest occupant ever but he has constantly appealed to people to not hold his wealth against him. "I think in our country, we judge people not by their bank account, we judge them by their character and their actions. And yes, I'm really fortunate to be in the situation I'm in now, but I wasn't born like this," Sunak had said last year. Sunak's wife Akshata had also faced public anger and criticism in April over her "non-domiciled" tax status which meant she was not required to pay tax in Britain on the earnings she made abroad. Subsequently, she gave up the status and agreed to pay British tax on her global income. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

UK PM Rishi Sunak, wife lose $668 million as value of their Infosys stake plummets

Indian author and philanthropist Sudha Murthy recently described her awkward encounter with an immigration officer during her visit to the United Kingdom. She spoke about how an immigration officer refused to believe her when she filled in her residential address in London as 10 Downing Street, where her son-in-law and current British Prime Minister Rishi Sunak lives.

She shared the story during an appearance at Indian Hindi-language stand-up comedy TV show, The Kapil Sharma Show.&nbsp;

10 Downing Street, which is the official residence and office of the UK prime minister, is currently home to Rishi Sunak. The first Indian-origin prime minister is married to Sudha Murthy’s daughter Akshata Murthy.&nbsp;

“Once when I had gone, they asked me my residential address. ‘Where are you staying in London?’ My elder sister was with me and I thought should I write ‘10 Downing Street’,” said the Indian philanthropist. She also spoke about how even though her son also lived in the UK at the time, she couldn’t recall his complete address.&nbsp;

“But I finally wrote 10 Downing Street,” she added. “The fellow [the immigration officer] looked at me and said ‘Are you joking?!’” To which she responded, “Nahi, sachchi bolti hu [No, I am telling you the truth].”

She also went on to point out how no one believes that a 72-year-old, “simple lady” can be the mother-in-law of the PM.&nbsp;

In a video that went viral last month, Murthy was heard saying, “I made my husband a businessman. My daughter made her husband the Prime Minister of the UK."&nbsp;

"The reason is the glory of the wife. See how a wife can change a husband. But I could not change my husband,” she went on to say.

Sudha Murthy is the wife of NR Narayana Murthy, the co-founder of Indian IT giant Infosys. She is also the Infosys Foundation chairperson.

Murthy, who was recently awarded the Padma Bhushan, the third-highest civilian award in India, also recalled another incident where she was brushed aside by two business class passengers because of her simple apparel.&nbsp;

On the show, she also recalled a separate incident and&nbsp;being called “cattle class”.

She&nbsp;overheard the passengers say, “What do these economy class people know of Business Class?” She immediately confronted them and asked them what is this “cattle class” and during the show, went on to criticise this mentality which equates class with the amount of money a person has.&nbsp; 
&nbsp;

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

Indian author and philanthropist Sudha Murthy recently described her awkward encounter with an immigration officer during her visit to the United Kingdom. She spoke about how an immigration officer refused to believe her when she filled in her residential address in London as 10 Downing Street, where her son-in-law and current British Prime Minister Rishi Sunak lives.

Indian author and philanthropist Sudha Murthy recently described her awkward encounter with an immigration officer during her visit to the United Kingdom. She spoke about how an immigration officer refused to believe her when she filled in her residential address in London as 10 Downing Street, where her son-in-law and current British Prime Minister Rishi Sunak lives. She shared the story during an appearance at Indian Hindi-language stand-up comedy TV show, The Kapil Sharma Show. 10 Downing Street, which is the official residence and office of the UK prime minister, is currently home to Rishi Sunak. The first Indian-origin prime minister is married to Sudha Murthy’s daughter Akshata Murthy. “Once when I had gone, they asked me my residential address. ‘Where are you staying in London?’ My elder sister was with me and I thought should I write ‘10 Downing Street’,” said the Indian philanthropist. She also spoke about how even though her son also lived in the UK at the time, she couldn’t recall his complete address. “But I finally wrote 10 Downing Street,” she added. “The fellow [the immigration officer] looked at me and said ‘Are you joking?!’” To which she responded, “Nahi, sachchi bolti hu [No, I am telling you the truth].” She also went on to point out how no one believes that a 72-year-old, “simple lady” can be the mother-in-law of the PM. In a video that went viral last month, Murthy was heard saying, “I made my husband a businessman. My daughter made her husband the Prime Minister of the UK." "The reason is the glory of the wife. See how a wife can change a husband. But I could not change my husband,” she went on to say. Sudha Murthy is the wife of NR Narayana Murthy, the co-founder of Indian IT giant Infosys. She is also the Infosys Foundation chairperson. Murthy, who was recently awarded the Padma Bhushan, the third-highest civilian award in India, also recalled another incident where she was brushed aside by two business class passengers because of her simple apparel. On the show, she also recalled a separate incident and being called “cattle class”. She overheard the passengers say, “What do these economy class people know of Business Class?” She immediately confronted them and asked them what is this “cattle class” and during the show, went on to criticise this mentality which equates class with the amount of money a person has. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

‘Are you joking?’: UK immigration officer after Sudha Murthy wrote 10 Downing Street as her address

At a time when IT employees were being laid off across the world over fears of recession, the Indian tech giant Infosys seems to be making efforts to ensure the well-being of its staff.

In a stock exchange filing on May 14, Infosys disclosed that it disbursed more than 500,000 equity shares worth around 650 million Indian rupees ($78 million) to eligible employees as a reward for their key contributions to the company’s growth.

The shares were allotted on May 12 under two employee-related schemes that seek to expand employees' ownership in the company.

Of the total shares allotted to the employees, 104,335 equity shares were allotted under the 2015 Stock Incentive Compensation Plan; and 407,527 equity shares under the Infosys Expanded Stock Ownership Programme 2019.

"This is to inform that the company has allotted 511,862 equity shares on May 12, 2023, pursuant to the exercise of Restricted Stock Units by eligible employees," Infosys said in its Bombay Stock Exchange (BSE) filing.

The practice of allotting company shares is often undertaken to motivate and retain talented and critical employees.

In the case of Infosys, the stock options are provided under its 2019 Incentive Compensation plan to encourage employees to align individual performance with the company’s objectives.

Under this plan, all employees of Infosys are eligible to participate. The appraisal process for determining the eligibility of employees for the grant of restricted stock units under this plan is determined by an administrator and is based on their level in the organisation, their performance and future potential, and any other criteria as will be determined by the administrator from time to time, Infosys said.

And in the event of termination of employment, or resignation of the participant, under the restricted stock units granted under the relevant award agreement which are not yet vested in the participant shall automatically terminate if the vesting criteria have not been satisfied, as of the date of termination or resignation, as the case may be, Infosys said.

Infosys in its filing further said that the issued and subscribed share capital of the company stands increased to Rs 20,749,373,460- divided into 4,149,874,692 equity shares of Rs 5 each.

On Monday, Infosys shares were trading 1 per cent higher at Rs 1,257 on BSE.

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

At a time when IT employees were being laid off across the world over fears of recession, the Indian tech giant Infosys seems to be making efforts to ensure the well-being of its staff.

At a time when IT employees were being laid off across the world over fears of recession, the Indian tech giant Infosys seems to be making efforts to ensure the well-being of its staff. In a stock exchange filing on May 14, Infosys disclosed that it disbursed more than 500,000 equity shares worth around 650 million Indian rupees ($78 million) to eligible employees as a reward for their key contributions to the company’s growth. The shares were allotted on May 12 under two employee-related schemes that seek to expand employees' ownership in the company. Of the total shares allotted to the employees, 104,335 equity shares were allotted under the 2015 Stock Incentive Compensation Plan; and 407,527 equity shares under the Infosys Expanded Stock Ownership Programme 2019. "This is to inform that the company has allotted 511,862 equity shares on May 12, 2023, pursuant to the exercise of Restricted Stock Units by eligible employees," Infosys said in its Bombay Stock Exchange (BSE) filing. The practice of allotting company shares is often undertaken to motivate and retain talented and critical employees. In the case of Infosys, the stock options are provided under its 2019 Incentive Compensation plan to encourage employees to align individual performance with the company’s objectives. Under this plan, all employees of Infosys are eligible to participate. The appraisal process for determining the eligibility of employees for the grant of restricted stock units under this plan is determined by an administrator and is based on their level in the organisation, their performance and future potential, and any other criteria as will be determined by the administrator from time to time, Infosys said. And in the event of termination of employment, or resignation of the participant, under the restricted stock units granted under the relevant award agreement which are not yet vested in the participant shall automatically terminate if the vesting criteria have not been satisfied, as of the date of termination or resignation, as the case may be, Infosys said. Infosys in its filing further said that the issued and subscribed share capital of the company stands increased to Rs 20,749,373,460- divided into 4,149,874,692 equity shares of Rs 5 each. On Monday, Infosys shares were trading 1 per cent higher at Rs 1,257 on BSE. WATCH WION LIVE HERE

Indian IT giant Infosys rewards top employees with $78 million worth of equity shares

The last&nbsp;fiscal (2022-23) was challenging for India's top three tech&nbsp;companies: Tata Consultancy Services (TCS), Infosys, and HCLTech.

All three companies witnessed a steep drop in hiring, as their cumulative employee additions dropped 65 percent from 197,000&nbsp;in 2021-22&nbsp;to just 68,886 in 2022-23, Moneycontrol reported on Tuesday.&nbsp;

There was a&nbsp;staggering 98.7 percent&nbsp;drop in hiring&nbsp;in the fourth quarter of 2022-23, compared to the same three-month period in 2021-22, the report said.&nbsp;

TCS, HCLTech, and Infosys added only 884 employees&nbsp;on a net basis in the quarter that ended in March 2023, in contrast to 68,257 in the same period last year, the report added.&nbsp;&nbsp;

Company-wise hiring decline breakdown

Milind Lakkad, the Chief Human Resources Officer of TCS, acknowledged that the net addition&nbsp;of 821 employees in Q4 and 22,600 for the full year do not fully reflect the extent to which the company ramped up talent acquisition efforts during the year to cope with unprecedented employee churn in the first half of the year.

TCS faced high attrition rates, reaching 21.5 percent&nbsp;on a last-twelve-month (LTM) basis in the second quarter of FY23, before&nbsp;moderating&nbsp;to 20.1 percent&nbsp;towards the end of March this year. Lakkad, however, told Moneycontrol that he expected&nbsp;attrition to return to pre-pandemic levels by the second half of the current fiscal.&nbsp;

Infosys, on the other hand, recorded a nearly 50 percent decline&nbsp;in yearly net additions, from 54,396 in the previous year to 29,219 in 2022-23.&nbsp;Infosys ended the last quarter of 2022-23&nbsp;with 3,611 fewer employees than the end of Q3 while adding 21,948 employees on a net basis in the same period in 2022.

Nilanjan Roy, the Chief Financial Officer of Infosys, expressed optimism about a gradual improvement in the situation&nbsp;in the coming quarters as freshers start getting deployed.&nbsp;

HCLTech's net addition of employees in 2022-23&nbsp;saw a 57 percent&nbsp;drop, declining from 40,252 in the previous year to 17,067. In the last quarter of the preceding fiscal, HCLTech added only 353 employees on a net basis, compared to 11,684 in the same period last year.

The decline in net employee additions for these top IT companies in India could&nbsp;be attributed to various factors, including the COVID-19 pandemic, increased competition for talent, and uncertainty in the global business environment.

The high attrition rates in the first half of last fiscal&nbsp;also impacted their hiring plans, leading to a slowdown in net employee additions in the subsequent quarters.

The last fiscal (2022-23) was challenging for India's top three tech companies: Tata Consultancy Services (TCS), Infosys, and HCLTech. All three companies witnessed a steep drop in hiring, as their cumulative employee additions dropped 65 percent from 197,000 in 2021-22 to just 68,886 in 2022-23, Moneycontrol reported on Tuesday.

The last fiscal (2022-23) was challenging for India's top three tech companies: Tata Consultancy Services (TCS), Infosys, and HCLTech. All three companies witnessed a steep drop in hiring, as their cumulative employee additions dropped 65 percent from 197,000 in 2021-22 to just 68,886 in 2022-23, Moneycontrol reported on Tuesday. There was a staggering 98.7 percent drop in hiring in the fourth quarter of 2022-23, compared to the same three-month period in 2021-22, the report said. TCS, HCLTech, and Infosys added only 884 employees on a net basis in the quarter that ended in March 2023, in contrast to 68,257 in the same period last year, the report added. Company-wise hiring decline breakdown Milind Lakkad, the Chief Human Resources Officer of TCS, acknowledged that the net addition of 821 employees in Q4 and 22,600 for the full year do not fully reflect the extent to which the company ramped up talent acquisition efforts during the year to cope with unprecedented employee churn in the first half of the year. TCS faced high attrition rates, reaching 21.5 percent on a last-twelve-month (LTM) basis in the second quarter of FY23, before moderating to 20.1 percent towards the end of March this year. Lakkad, however, told Moneycontrol that he expected attrition to return to pre-pandemic levels by the second half of the current fiscal. Infosys, on the other hand, recorded a nearly 50 percent decline in yearly net additions, from 54,396 in the previous year to 29,219 in 2022-23. Infosys ended the last quarter of 2022-23 with 3,611 fewer employees than the end of Q3 while adding 21,948 employees on a net basis in the same period in 2022. Nilanjan Roy, the Chief Financial Officer of Infosys, expressed optimism about a gradual improvement in the situation in the coming quarters as freshers start getting deployed. HCLTech's net addition of employees in 2022-23 saw a 57 percent drop, declining from 40,252 in the previous year to 17,067. In the last quarter of the preceding fiscal, HCLTech added only 353 employees on a net basis, compared to 11,684 in the same period last year. The decline in net employee additions for these top IT companies in India could be attributed to various factors, including the COVID-19 pandemic, increased competition for talent, and uncertainty in the global business environment. The high attrition rates in the first half of last fiscal also impacted their hiring plans, leading to a slowdown in net employee additions in the subsequent quarters.

India's IT giants Infosys, HCL, and TCS record 65% fall in hiring

United Kingdom Prime Minister Rishi Sunak has come under the scanner for being tight-lipped about Infosys — an Indian IT company owned by his wife Akshata Murty's family.&nbsp;

As per the Evening Standard, while it is public knowledge that Infosys was co-founded by Sunak's father-in-law, the UK PM has never spoken of his interest in the company.

Sunak has previously said that it was a matter only for his wife and not of "legitimate public interest."

As per a report by the New European, the Contracts Finder, the UK government's own database of public sector tenders and contracts, Infosys has been involved in more than $214 million (£172 million) worth of public sector contracts with different UK&nbsp;government agencies and&nbsp;organisations.

<h2>Which departments have signed contracts with Infosys?</h2>

As per the database, Infosys has signed contracts to provide services and supplies to multiple government clients, including the Home Office, the Care Quality Commission, the Medicines and Healthcare Products Regulatory Agency, Westminster Council, Nottingham University, the London Borough of Merton, and East Sussex County Council.&nbsp;

However, there are no contracts between Infosys, the Treasury, or the Cabinet Office on Contracts Finder, a public record of government contracts.&nbsp;

<h2>Infosys contracts with UK government agencies, organisation</h2>

The most recent contract was awarded in December 2022, with Transport for London. Under it, Infosys has been contracted to supply £1,760,500 ($2,190,581) worth of "consulting, software development, internet and support."

Incidentally, the first governmental award Infosys received — back in March 2015 — was also with Transport for London. Then, Infosys and 15 partner companies managed to secure contracts worth £98 million (around $121 million).

Infosys has also signed two contracts with the Medicines and Healthcare Products Regulatory Agency worth £5.35 million ($6.65 million), and six contracts with the Care Quality Commission totalling £20.3 million ($25.24 million).&nbsp;

The company has also been a party to a £10 million contract with Westminster Council to provide a digital roadmap and has supplied computer goods and software to Nottingham University valued at £650,600 ($809,131). Its contracts with the London Borough of Merton and East Sussex County Council amount to £500,000 ($621,835) and £25 million ($31&nbsp;million), respectively.

Additionally, Infosys has signed two contracts with the Home Office worth £10.8 million ($13.4&nbsp;million), including a 2017-2020 contract worth £7.4 million&nbsp;($9.2&nbsp;million) for "quality assurance and infrastructure testing."&nbsp;

Despite this, there is no suggestion of any wrongdoing in relation to the awarding of&nbsp;the contracts.

<h2>How is Sunak linked to Infosys?</h2>

As mentioned before, his father-in-law was a co-founder of Infosys.

Apart from this, his wife, Akshata Murty,&nbsp;reportedly has a 0.93 per cent interest in the business. This amounts to 38.9 million shares, worth an estimated £89 million ($110 million) or so. Dividends from these shares as per the New European amount to around £12 million (almost $15 million) annually.&nbsp;

Until recently, Murty&nbsp;was not liable for UK tax on account of her "non-dom" status. Sunak has previously faced criticism when it emerged that Murty did not declare earnings from her Infosys&nbsp;dividends for UK tax purposes. However, after a furore, she said that she would include them.

AFP reports that the Indian-origin PM is also under investigation by the U UK parliamentary watchdog, over a possible failure to declare shares held by his wife in a childcare agency "Koru Kids" that stands to benefit from a recent budget.

(With inputs from agencies)

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

United Kingdom Prime Minister Rishi Sunak has come under the scanner for being tight-lipped about Infosys — an Indian IT company owned by his wife Akshata Murty's family.

United Kingdom Prime Minister Rishi Sunak has come under the scanner for being tight-lipped about Infosys — an Indian IT company owned by his wife Akshata Murty's family. As per the Evening Standard, while it is public knowledge that Infosys was co-founded by Sunak's father-in-law, the UK PM has never spoken of his interest in the company. Sunak has previously said that it was a matter only for his wife and not of "legitimate public interest." As per a report by the New European, the Contracts Finder, the UK government's own database of public sector tenders and contracts, Infosys has been involved in more than $214 million (£172 million) worth of public sector contracts with different UK government agencies and organisations. Which departments have signed contracts with Infosys? As per the database, Infosys has signed contracts to provide services and supplies to multiple government clients, including the Home Office, the Care Quality Commission, the Medicines and Healthcare Products Regulatory Agency, Westminster Council, Nottingham University, the London Borough of Merton, and East Sussex County Council. However, there are no contracts between Infosys, the Treasury, or the Cabinet Office on Contracts Finder, a public record of government contracts. Infosys contracts with UK government agencies, organisation The most recent contract was awarded in December 2022, with Transport for London. Under it, Infosys has been contracted to supply £1,760,500 ($2,190,581) worth of "consulting, software development, internet and support." Incidentally, the first governmental award Infosys received — back in March 2015 — was also with Transport for London. Then, Infosys and 15 partner companies managed to secure contracts worth £98 million (around $121 million). Infosys has also signed two contracts with the Medicines and Healthcare Products Regulatory Agency worth £5.35 million ($6.65 million), and six contracts with the Care Quality Commission totalling £20.3 million ($25.24 million). The company has also been a party to a £10 million contract with Westminster Council to provide a digital roadmap and has supplied computer goods and software to Nottingham University valued at £650,600 ($809,131). Its contracts with the London Borough of Merton and East Sussex County Council amount to £500,000 ($621,835) and £25 million ($31 million), respectively. Additionally, Infosys has signed two contracts with the Home Office worth £10.8 million ($13.4 million), including a 2017-2020 contract worth £7.4 million ($9.2 million) for "quality assurance and infrastructure testing." Despite this, there is no suggestion of any wrongdoing in relation to the awarding of the contracts. How is Sunak linked to Infosys? As mentioned before, his father-in-law was a co-founder of Infosys. Apart from this, his wife, Akshata Murty, reportedly has a 0.93 per cent interest in the business. This amounts to 38.9 million shares, worth an estimated £89 million ($110 million) or so. Dividends from these shares as per the New European amount to around £12 million (almost $15 million) annually. Until recently, Murty was not liable for UK tax on account of her "non-dom" status. Sunak has previously faced criticism when it emerged that Murty did not declare earnings from her Infosys dividends for UK tax purposes. However, after a furore, she said that she would include them. AFP reports that the Indian-origin PM is also under investigation by the U UK parliamentary watchdog, over a possible failure to declare shares held by his wife in a childcare agency "Koru Kids" that stands to benefit from a recent budget. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

UK PM Sunak maintains silence over interests in father-in-law's company Infosys. Here's all you need to know

Rishi Sunak's wife Akshata Murty lost about $61 million Monday after shares in Infosys tumbled the most since he became UK prime minister. Murty owns a 0.94% stake in the Infosys Ltd co-founded by her father Narayana Murthy.

Akshata Murty loses $61 million in a day after Infosys stocks tumble

Akshata Murty, wife of the UK Prime Minister Rishi Sunak and daughter of Infosys co-founder, Narayana Murty lost approximately £49 million ($61 million) after Infosys shares dropped 9.4 per cent on Monday. This was the biggest decline in share value for the company since March 2020. This is also the biggest intraday percentage drop since October 2019, and dragged other IT stocks, with the Nifty IT index dropping as much as 7.6 per cent.&nbsp;

Murty's share in Infosys is still worth more than $450 million, according to Bloomberg. Akshata Murty owns 0.95 per cent of Infosys.&nbsp;

Sunak has frequently been criticised for his wife's 'non-domicile' status in the UK, and the opposition has frequently criticised him, citing Murty's failure to register her Infosys dividend earnings for tax purposes in the UK.

Also Read |&nbsp;<a href="https://www.wionews.com/world/g7-countries-issue-stern-warning-to-those-aiding-russia-in-ukraine-war-583570">G7 countries issue stern warning to those aiding Russia in Ukraine war</a>

While the office of Rishi Sunak declined to comment, Murty's wealth has been an ongoing topic in her husband's political career. Murty received Rs 126.61 crore ($154 million) in dividend income from her Infosys shares in 2022. Last year, the couple faced controversy after it was revealed that Murty had non-domicile status in the UK and had not been paying tax on his overseas profits.

Her spokesman at the time noted that as an Indian citizen, she was unable to hold dual citizenship and that "she has always and will continue to pay UK taxes on all her UK income.”

Watch |&nbsp;Akshata Murty loses $61 million in a day after Infosys stocks tumble

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/akshata-murty-loses-61-million-in-a-day-after-infosys-stocks-tumble-583561/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

In a separate development on Monday, UK Parliamentary Commissioner for Standard, Daniel Greenberg opened an inquiry against Rishi Sunak to know whether he was faulted for declaring a relevant interest relating to a minority stake owned by his wife in a childcare company. His office said the interest had been “transparently declared” and that the premier would cooperate with Greenberg.&nbsp;

Last month, the prime minister revealed details about his personal finances, disclosing that he had paid over £1 million in UK taxes over the previous three years. His share and capital gains earnings surpassed his political salary.

Sunak and Murty are the wealthiest people to ever live on 10 Downing Street. Murthy roughly owns 0.9% of Infosys Ltd., which is worth nearly $600 million based on Monday's share price.

(With inputs from agencies)

 
WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

Akshata Murty, wife of the UK Prime Minister Rishi Sunak and daughter of Infosys co-founder, Narayana Murty lost approximately £49 million ($61 million) after Infosys shares dropped 9.

Akshata Murty, wife of the UK Prime Minister Rishi Sunak and daughter of Infosys co-founder, Narayana Murty lost approximately £49 million ($61 million) after Infosys shares dropped 9.4 per cent on Monday. This was the biggest decline in share value for the company since March 2020. This is also the biggest intraday percentage drop since October 2019, and dragged other IT stocks, with the Nifty IT index dropping as much as 7.6 per cent. Murty's share in Infosys is still worth more than $450 million, according to Bloomberg. Akshata Murty owns 0.95 per cent of Infosys. Sunak has frequently been criticised for his wife's 'non-domicile' status in the UK, and the opposition has frequently criticised him, citing Murty's failure to register her Infosys dividend earnings for tax purposes in the UK. Also Read | G7 countries issue stern warning to those aiding Russia in Ukraine war While the office of Rishi Sunak declined to comment, Murty's wealth has been an ongoing topic in her husband's political career. Murty received Rs 126.61 crore ($154 million) in dividend income from her Infosys shares in 2022. Last year, the couple faced controversy after it was revealed that Murty had non-domicile status in the UK and had not been paying tax on his overseas profits. Her spokesman at the time noted that as an Indian citizen, she was unable to hold dual citizenship and that "she has always and will continue to pay UK taxes on all her UK income.” Watch | Akshata Murty loses $61 million in a day after Infosys stocks tumble × In a separate development on Monday, UK Parliamentary Commissioner for Standard, Daniel Greenberg opened an inquiry against Rishi Sunak to know whether he was faulted for declaring a relevant interest relating to a minority stake owned by his wife in a childcare company. His office said the interest had been “transparently declared” and that the premier would cooperate with Greenberg. Last month, the prime minister revealed details about his personal finances, disclosing that he had paid over £1 million in UK taxes over the previous three years. His share and capital gains earnings surpassed his political salary. Sunak and Murty are the wealthiest people to ever live on 10 Downing Street. Murthy roughly owns 0.9% of Infosys Ltd., which is worth nearly $600 million based on Monday's share price. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Akshata Murthy loses $61 million in one day as Infosys shares drop 9.4%, biggest fall since March 2020

The Indian IT firm, Infosys, has run in a dispute with the UK’s tax agency over a multimillion-pound corporation tax bill. &nbsp;

According to the Telegraph newspaper, the multinational firm—founded by British Prime Minister Rishi Sunak’s father-in-law Narayana Murthy—owes £20 million for a period from 2014 to 2017.&nbsp;

Infosys&nbsp;acknowledged the dispute and said that it had opened an appeal against HM Revenue &amp; Customs’s calculation. It also denied any wrongdoing and added that it disagrees with the tax assessment.&nbsp;

“Infosys&nbsp;provides details of certain ongoing disputes with various regulatory authorities, including this specific tax matter with HMRC,” a spokesman was quoted as saying.&nbsp;

“The company has filed an appeal against a tax assessment in the UK and obtained a stay on the payment of the tax demand from HMRC.”&nbsp;

A spokeswoman for HMRC said, “We cannot comment on identifiable taxpayers.”&nbsp;

<h2>UK PM Rishi Sunak sacks Nadhim Zahawi, BBC Chief next?</h2>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/uk-pm-rishi-sunak-sacks-nadhim-zahawi-bbc-chief-next-557404/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

The development comes days after Sunak axed Nadhim Zahawi as Conservative Party chairman over his tax affairs. &nbsp;

It was found that Zahawi committed seven breaches of the ministerial code through his repeated failure to disclose HMRC’s investigation into him and the details of the settlement they agreed, including a penalty for tax avoidance. Sunak is still&nbsp;facing scrutiny&nbsp;over his handling of the affair.&nbsp;

Though Narayan Murthy quit Infosys in 2014 following a clash with the company’s subsequent leadership, his daughter and Sunak’s wife Akshata Murty still owns just over 0.9 per cent of the Bangalore-based company.&nbsp;

In April last year, local media reported that Akshata saved millions of pounds while living in No 11 by using non-dom status to minimise her tax bill. &nbsp;

The tax break, which costs thousands of pounds to maintain, means that a person can be a UK resident but only pay tax on the British – rather than worldwide – income. Murty resigned her non-dom status for income tax purposes shortly afterward, according to Guardian newspaper.&nbsp;

(With inputs from agencies)&nbsp;

WATCH WION LIVE HERE: 

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

&nbsp;

&nbsp;

The Indian IT firm, Infosys, has run in a dispute with the UK’s tax agency over a multimillion-pound corporation tax bill. According to the Telegraph newspaper, the multinational firm—founded by British Prime Minister Rishi Sunak’s father-in-law Narayana Murthy—owes £20 million for a period from 2014 to 2017.

The Indian IT firm, Infosys, has run in a dispute with the UK’s tax agency over a multimillion-pound corporation tax bill. According to the Telegraph newspaper, the multinational firm—founded by British Prime Minister Rishi Sunak’s father-in-law Narayana Murthy—owes £20 million for a period from 2014 to 2017. Infosys acknowledged the dispute and said that it had opened an appeal against HM Revenue & Customs’s calculation. It also denied any wrongdoing and added that it disagrees with the tax assessment. “Infosys provides details of certain ongoing disputes with various regulatory authorities, including this specific tax matter with HMRC,” a spokesman was quoted as saying. “The company has filed an appeal against a tax assessment in the UK and obtained a stay on the payment of the tax demand from HMRC.” A spokeswoman for HMRC said, “We cannot comment on identifiable taxpayers.” UK PM Rishi Sunak sacks Nadhim Zahawi, BBC Chief next? The development comes days after Sunak axed Nadhim Zahawi as Conservative Party chairman over his tax affairs. It was found that Zahawi committed seven breaches of the ministerial code through his repeated failure to disclose HMRC’s investigation into him and the details of the settlement they agreed, including a penalty for tax avoidance. Sunak is still facing scrutiny over his handling of the affair. Though Narayan Murthy quit Infosys in 2014 following a clash with the company’s subsequent leadership, his daughter and Sunak’s wife Akshata Murty still owns just over 0.9 per cent of the Bangalore-based company. In April last year, local media reported that Akshata saved millions of pounds while living in No 11 by using non-dom status to minimise her tax bill. The tax break, which costs thousands of pounds to maintain, means that a person can be a UK resident but only pay tax on the British – rather than worldwide – income. Murty resigned her non-dom status for income tax purposes shortly afterward, according to Guardian newspaper. (With inputs from agencies) WATCH WION LIVE HERE:

Infosys, founded by PM Sunak’s father-in-law, in tax dispute with UK authorities  

Earlier this year in April, Indian IT bellwether behemoth Infosys announced that it was going to move its business out of Russia. However, months after making the announcement, the company is still operating from Moscow, as per a Guardian report, putting the spotlight on UK Prime Minister Rishi Sunak, whose wife Akshata Murty receives annual dividends from the company.

Earlier this year in April, Indian IT bellwether behemoth Infosys announced that it was going to move its business out of Russia. However, months after making the announcement, the company is still operating from Moscow, as per a Guardian report, putting the spotlight on UK Prime Minister Rishi Sunak, whose wife Akshata Murty receives annual dividends from the company. According to reports, Infosys still has a staffed office on its roster in the Russian capital and is simultaneously paying subcontractors to carry out IT services for a global client. In April, Infosys chief executive and managing director Salil Parekh had said, “Given what is going on in the region, we have started to transition all of our work from our centres in Russia to our centres outside Russia." "We have no work with any Russian client today and we have no plans for any work with any Russian client going ahead," he had added. WATCH | India's software giant Infosys announces withdrawal from Russia × Opposition leaders are now gunning for Sunak's head saying the Russians are funding his household whose address has changed to 10, Downing Street just a few weeks back. “It’s utterly scandalous that six months after Infosys said it would urgently pull out of Russia, the Sunak family could be materially benefiting from Moscow-based operations," Labour's deputy leader Angela Rayner was quoted as saying by the publication. Even in the lead-up to the elections, Sunak was forced to explain details about how he managed his family's fortune, which is said to total $840 million and has led to him being routinely referred to as the UK’s richest MP. The majority of Sunak's fortune is derived from his marriage to Akshata who owns a 0.93 per cent stake worth $794 million in Infosys. Reports of Akshata touted to be wealthier than British Queen Elizabeth II have always irked the British public and the recent reports of Infosys staying in Russia is expected to invite more scathing criticism. Read more: Amidst row surrounding UK FM Rishi Sunak & wife Akshata, India’s Infosys to exit Russia As reported by WION, Akshata was able to save millions of pounds in tax on dividends, which were collected from her family's IT business. Last year, she earned a dividend payment worth 11.6 million pounds ($15.1 million). It was only after the controversy snowballed and threatened to hurt Sunak that Akshata agreed to pay more tax on foreign income. (With inputs from agencies) WATCH WION LIVE HERE:

UK PM Rishi Sunak under pressure as Infosys continues to operate in Russia

This is the topic which has been debated a lot in the last few months. After firing a few hundred employees just a week ago for moonlighting, Indian IT major Infosys made a bit of a surprising move and said that it will now allow employees to moonlight but with conditions.

WION Dispatch: Infosys okays external gig for employees

Tech giant&nbsp;Infosys finally came up with a clear guideline regarding employees ‘moonlighting’ or taking up ‘gig’ jobs. According to the latest advisory published by the company, employees will be allowed to take jobs on the side after getting proper permission from their managers. It further stated that the jobs cannot compete with the company and its clients in any way or pose a “conflict of interest”.&nbsp;

"Any employee, who wishes to take up gig work, may do so, with the prior consent of their manager and BP-HR, and in their personal time, for establishments that do not compete with Infosys or Infosys' clients," Infosys wrote in an internal communication which was accessed by PTI.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/south-asia/imran-khan-barred-from-holding-public-office-by-pakistan-election-commission-527352" hreflang="en">Imran Khan disqualified from running for public office for five years</a>

"In addition, as per Infosys employment contract, employees may not work in areas when there is an actual or potential conflict of interest or by accepting dual employment," the e-mail added.&nbsp;

The issue of ‘moonlighting’ by employees in the tech industry became a massive issue after Infosys made it clear that they were in favour of the practice. While presenting the Q2 earnings, Infosys also said that they fired several employees in the last year for “dual employment”.&nbsp;

However, with the attrition rate at one of the lowest and employees expressing their displeasure at the announcement, the company has considerably softened its stance on the issue.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/blasts-reported-from-ukraines-kharkiv-zaporizhzhia-no-casualties-reported-yet-527295">Moscow says Ukrainian shelling killed four during Kherson evacuations</a>

&nbsp;Infosys also asked the employees to use the company platform to find “gig” jobs.&nbsp;

"Accelerate allows skill-based job matches to recommend the right gigs for employees and incentivise both gig workers and hiring managers. The platform, over the years, has been helping in create richer job variety and more immersive learning for Infoscions," it said.&nbsp;

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

Tech giant Infosys finally came up with a clear guideline regarding employees ‘moonlighting’ or taking up ‘gig’ jobs. According to the latest advisory published by the company, employees will be allowed to take jobs on the side after getting proper permission from their managers.

Tech giant Infosys finally came up with a clear guideline regarding employees ‘moonlighting’ or taking up ‘gig’ jobs. According to the latest advisory published by the company, employees will be allowed to take jobs on the side after getting proper permission from their managers. It further stated that the jobs cannot compete with the company and its clients in any way or pose a “conflict of interest”. "Any employee, who wishes to take up gig work, may do so, with the prior consent of their manager and BP-HR, and in their personal time, for establishments that do not compete with Infosys or Infosys' clients," Infosys wrote in an internal communication which was accessed by PTI. Also read | Imran Khan disqualified from running for public office for five years "In addition, as per Infosys employment contract, employees may not work in areas when there is an actual or potential conflict of interest or by accepting dual employment," the e-mail added. The issue of ‘moonlighting’ by employees in the tech industry became a massive issue after Infosys made it clear that they were in favour of the practice. While presenting the Q2 earnings, Infosys also said that they fired several employees in the last year for “dual employment”. However, with the attrition rate at one of the lowest and employees expressing their displeasure at the announcement, the company has considerably softened its stance on the issue. Also read | Moscow says Ukrainian shelling killed four during Kherson evacuations Infosys also asked the employees to use the company platform to find “gig” jobs. "Accelerate allows skill-based job matches to recommend the right gigs for employees and incentivise both gig workers and hiring managers. The platform, over the years, has been helping in create richer job variety and more immersive learning for Infoscions," it said.

Infosys allows moonlighting by employees after prior permission from managers, no conflict

In the middle of a debate on Moonlighting which is working for a company and taking another job at the same time, now Indian IT giant emphasis has reportedly fired several employees for this.

World Business Watch: Indian IT firm Infosys fires several employees for 'moonlighting'

India's tech behemoth Infosys is currently embroiled in a legal tussle in the USA. Reportedly, the Bengaluru-based company has been accused of discrimination in its hiring process based on age, gender and nationality.

India's tech behemoth Infosys is currently embroiled in a legal tussle in the USA. Reportedly, the Bengaluru-based company has been accused of discrimination in its hiring process based on age, gender and nationality. A US court rejected the motion brought by Infosys to quash the complaint of former employee Jill Prejean who claimed that the company asked her to avoid hiring candidates of Indian origin, women with children and those above 50 years old. Prejan was a former Vice President of Talent Acquisition with Infosys and she made the claims before the United States District Court for the southern district of New York. In her complaint, she pointed to former senior VP and head of consulting Mark Livingston, and former partners Dan Albright and Jerry Kurtz as the ones who created a hostile work environment and enforced discriminatory hiring policies. Read more: After Wipro, Infosys warns employees of consequences if found to be moonlighting "Prejan tried to change this culture within the first two months of her employment but was met with resistance from Infosys partners - Jerry Kurtz and Dan Albright - who became hostile in the face of her objections and tried to circumvent her authority to evade compliance with the law," read the complaint according to media reports. She had filed the lawsuit against Infosys last year in September and the court rejecting the company's plea comes as a minuscule victory for her. WATCH | Indian tech majors Wipro, Infosys, Mahindra reject graduates after giving offer letters: Reports × The court has reportedly directed the defendants aka Infosys to file an answer within three weeks, after the judgement came out on September 30. Notably, this is not the first time Infosys has found itself in a quandary over such discriminatory charges by employees. In 2021, four employees filed a complaint with Equal Employment Opportunity Commission and argued that the Bengaluru-based company favoured Indian male workers. (With inputs from agencies) WATCH WION LIVE HERE:

Indian IT giant Infosys facing a discrimination suit in the US for hiring bias

Before discussing India's information technology companies, I have to tell you a bad joke about Beethoven. It seems some people heard music emanating from the musician's grave after his body was buried, and it turned out to be the reverse of one of his symphonies. On closer examination, they found that Beethoven was, well, decomposing.

Ouch! Apart from apologising for a bad pun, I must say I was reminded of this joke for two reasons. Beethoven happens to be the writer of the Moonlight Sonata, and, as India's software companies furiously discuss <a href="https://www.wionews.com/videos/gravitas-the-gmoonlighting-debate-is-it-legal-to-work-2-jobs-in-india-511895">moonlighting</a> by their employees, I am just wondering if the industry, in its own way, is decomposing!

I have seen cycles come and go in India's codesmith industry, and admired its amazing capacity to adopt and adapt, and, in the process, turn adept. I am sure this will be the case again. But there is writing on the wall for geeks who want to eat the cake and have it too: Two can play this game.

Bangalore-based major software giant <a href="https://www.wionews.com/world/wipro-sacks-300-employees-for-moonlighting-518364">Wipro</a> has walked its talk by firing 300 employees on the ground that they were working part-time for competitors, and companies including industry leader Tata Consultancy Services and <a href="https://www.wionews.com/india-news/after-wipro-infosys-warns-employees-of-consequences-if-found-to-be-moonlighting-515717">Infosys</a> have made similar noises against moonlighting. It is only fair that employees do not work for competitors of their employers, but there is more to it than meets the eye, for which you need to understand both the evolution and the landscape of the industry.

I still remember my first visit to the Infosys campus circa 1995, when it had only 500 employees, and a company spokeswoman proudly showed me a bus that transported workers from central Bangalore to the suburban Electronic City. That was an innocent era in which employees were happy to get a well-paying job, job security, a company-backed home loan, a generous canteen, and free transport.&nbsp;

From there on to big bonuses, onsite work in the US that offered a route to the American Dream Green Card, get-rich-quick stock options, startup ambitions, and unusual perks (NIIT once offered a dating allowance, okay?), things have come a long way. The urge to eat the cake and have it too does not stop.

Employers are not babes in the wood either. From luring employees to putting in long hours by dangling onsite postings or inflating job titles, they keep doing their part. You could say it is par for the course, but technology and circumstances keep changing the landscape.

I remember visiting software facilities in which data protection was so strict that employees were not allowed to carry floppy diskettes or pen drives in or out. They were suitably frisked to ensure safety. Moving from there to the iPad-driven Bring Your Own Device (BYOD) culture for employees and then on to the Covid pandemic-driven Work From Home (WFH) era, software companies have cut costs and improved flexibility at the same time. But the flip side of the coin is the Moonlighting Syndrome. Now that the pandemic seems well on its way out, employers are discovering the downside of the WFH culture and doing something about it.

The Wipro move is certainly a wake-up call for employees because they cannot easily enjoy job security, WFH, and five-day weeks and then get some extra bucks from moonlighting. But equally so, it means that for the industry as a whole, employers have to compete for talent in a way that optimises their profits. Smart people can work faster and better, and incentivising them means giving them competitive salaries that are better linked to output than time. The IT industry has historically worked on the T&amp;M (time and materials) principle, which critics say was only sophisticated body-shopping. With bandwidth and devices now coming easy, creativity and loyalty also need to be properly priced by human resource professionals. Loyalty is difficult to calculate for employers. The war for talent is real, while high expectations among employees have become the new normal.&nbsp;

Just like Generation Z and Millennial relationships, the IT industry has moved from long-term marriages to "something casual" and on the way, it has become, in Facebookspeak, a case of the status becoming "complicated". &nbsp;

This is because IT companies have their own "employment models" that go with business models. Take for instance Tech Mahindra, which ranks below the bigger giants like Wipro.&nbsp;

Its CEO CP Gurnani does not mind employees moonlighting if they meet other criteria like productivity and is thinking of making it a policy! This is because a moonlight-inclusive policy may lower costs for a smaller company to compete with the giants.

Such a move is a potential time bomb for employees because, over time, every company may evolve its own strategy in which only the smartest employees can get away with flexible hours or higher salaries. What stops Wipro or Infosys from partnering with boutique companies and turning the tables on employees? I won't rule it out. Wipro's move is certainly a warning but it also means HR challenges in which IT companies can no longer treat employees like cyber coolies. They must explicitly recognise the men/women and separate them from the boys/girls. This involves management costs.

Also, something must be said about teamwork. WFH reduces the scope for easy teamwork and focus that can enhance both the quality and quantity of output. The best companies encourage collaboration.

The giant-run boutique model is quite common in marketing, communications, and advertising. The London-listed WPP Plc is essentially a holding company that runs a global network of dozens of agencies. I don't rule out an IT major evolving into that model.

I can even imagine a dystopian scenario in which smarter employees turn into high-value gig workers or smart boutique owners while some companies turn into boutique aggregators to manage costs and boost creativity. That will leave your regular software army of low-end coding clerks in the lurch with less pay and less job security. I call it the double disruption scenario.

The fact is that, from IBM's mainframe computers that occupied whole buildings to smartphones with that kind of a capacity resting on your palm, the evolution in technology has thrown new challenges all the time. Neither employees nor employers can take anything for granted. Like in relationships, break-ups may become common.&nbsp;

But then, everybody is looking for love while dominating in a relationship or doing some plain old cheating. Someone somewhere has to face the music -- with apologies to Beethoven.

(Disclaimer: The views of the writer do not represent the views of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer.)

WATCH WION LIVE HERE

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false"><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.&nbsp;

Before discussing India's information technology companies, I have to tell you a bad joke about Beethoven. It seems some people heard music emanating from the musician's grave after his body was buried, and it turned out to be the reverse of one of his symphonies.

Before discussing India's information technology companies, I have to tell you a bad joke about Beethoven. It seems some people heard music emanating from the musician's grave after his body was buried, and it turned out to be the reverse of one of his symphonies. On closer examination, they found that Beethoven was, well, decomposing. Ouch! Apart from apologising for a bad pun, I must say I was reminded of this joke for two reasons. Beethoven happens to be the writer of the Moonlight Sonata, and, as India's software companies furiously discuss moonlighting by their employees, I am just wondering if the industry, in its own way, is decomposing! I have seen cycles come and go in India's codesmith industry, and admired its amazing capacity to adopt and adapt, and, in the process, turn adept. I am sure this will be the case again. But there is writing on the wall for geeks who want to eat the cake and have it too: Two can play this game. Bangalore-based major software giant Wipro has walked its talk by firing 300 employees on the ground that they were working part-time for competitors, and companies including industry leader Tata Consultancy Services and Infosys have made similar noises against moonlighting. It is only fair that employees do not work for competitors of their employers, but there is more to it than meets the eye, for which you need to understand both the evolution and the landscape of the industry. I still remember my first visit to the Infosys campus circa 1995, when it had only 500 employees, and a company spokeswoman proudly showed me a bus that transported workers from central Bangalore to the suburban Electronic City. That was an innocent era in which employees were happy to get a well-paying job, job security, a company-backed home loan, a generous canteen, and free transport. From there on to big bonuses, onsite work in the US that offered a route to the American Dream Green Card, get-rich-quick stock options, startup ambitions, and unusual perks (NIIT once offered a dating allowance, okay?), things have come a long way. The urge to eat the cake and have it too does not stop. Employers are not babes in the wood either. From luring employees to putting in long hours by dangling onsite postings or inflating job titles, they keep doing their part. You could say it is par for the course, but technology and circumstances keep changing the landscape. I remember visiting software facilities in which data protection was so strict that employees were not allowed to carry floppy diskettes or pen drives in or out. They were suitably frisked to ensure safety. Moving from there to the iPad-driven Bring Your Own Device (BYOD) culture for employees and then on to the Covid pandemic-driven Work From Home (WFH) era, software companies have cut costs and improved flexibility at the same time. But the flip side of the coin is the Moonlighting Syndrome. Now that the pandemic seems well on its way out, employers are discovering the downside of the WFH culture and doing something about it. The Wipro move is certainly a wake-up call for employees because they cannot easily enjoy job security, WFH, and five-day weeks and then get some extra bucks from moonlighting. But equally so, it means that for the industry as a whole, employers have to compete for talent in a way that optimises their profits. Smart people can work faster and better, and incentivising them means giving them competitive salaries that are better linked to output than time. The IT industry has historically worked on the T&M (time and materials) principle, which critics say was only sophisticated body-shopping. With bandwidth and devices now coming easy, creativity and loyalty also need to be properly priced by human resource professionals. Loyalty is difficult to calculate for employers. The war for talent is real, while high expectations among employees have become the new normal. Just like Generation Z and Millennial relationships, the IT industry has moved from long-term marriages to "something casual" and on the way, it has become, in Facebookspeak, a case of the status becoming "complicated". This is because IT companies have their own "employment models" that go with business models. Take for instance Tech Mahindra, which ranks below the bigger giants like Wipro. Its CEO CP Gurnani does not mind employees moonlighting if they meet other criteria like productivity and is thinking of making it a policy! This is because a moonlight-inclusive policy may lower costs for a smaller company to compete with the giants. Such a move is a potential time bomb for employees because, over time, every company may evolve its own strategy in which only the smartest employees can get away with flexible hours or higher salaries. What stops Wipro or Infosys from partnering with boutique companies and turning the tables on employees? I won't rule it out. Wipro's move is certainly a warning but it also means HR challenges in which IT companies can no longer treat employees like cyber coolies. They must explicitly recognise the men/women and separate them from the boys/girls. This involves management costs. Also, something must be said about teamwork. WFH reduces the scope for easy teamwork and focus that can enhance both the quality and quantity of output. The best companies encourage collaboration. The giant-run boutique model is quite common in marketing, communications, and advertising. The London-listed WPP Plc is essentially a holding company that runs a global network of dozens of agencies. I don't rule out an IT major evolving into that model. I can even imagine a dystopian scenario in which smarter employees turn into high-value gig workers or smart boutique owners while some companies turn into boutique aggregators to manage costs and boost creativity. That will leave your regular software army of low-end coding clerks in the lurch with less pay and less job security. I call it the double disruption scenario. The fact is that, from IBM's mainframe computers that occupied whole buildings to smartphones with that kind of a capacity resting on your palm, the evolution in technology has thrown new challenges all the time. Neither employees nor employers can take anything for granted. Like in relationships, break-ups may become common. But then, everybody is looking for love while dominating in a relationship or doing some plain old cheating. Someone somewhere has to face the music -- with apologies to Beethoven. (Disclaimer: The views of the writer do not represent the views of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer.) WATCH WION LIVE HERE × You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Moonlight Sonata in IT major: Why part-time work may cause a double disruption in India

In signs of an impending slowdown in the Indian Information Technology sector, reports say Indian tech majors have revoked a large number of employment letters that they had given to students. The IT firms including Wipro, Infosys and Tech Mahindra have recently cancelled employment offers after months of delay in the onboarding process.

Indian tech majors Wipro, Infosys, Mahindra reject graduates after giving offer letters: Reports

Information technology graduates in India have now begun to hunt for other jobs after the tech giants like Wipro, Infosys and TCS have reportedly delayed the onboarding process for more than six months.

Indian IT graduates claim tech giants delaying onboarding

Wipro has fired 300 employees as part of a strict stance against workers who moonlight. The company recently discovered 300 employees to be&nbsp;moonlighting and working for competitors, according to Wipro Chairman Rishad Premji, who added that such individuals had no place in the organisation.

What is 'moonlighting'?

The term "moonlighting" refers to doing many jobs in addition to one's regular job. Moonlighting is the phrase used to describe the practice of working for other organisations while dedicating oneself to one's primary workplace, usually without the employer's knowledge.

Why companies don't allow it?

Businesses disagree with the approach, claiming that having staff perform numerous tasks can reduce productivity. As working from home became the norm during the Covid-19 pandemic, which is thought to have caused an increase in dual employment, moonlighting has come under discussion in the IT industry.

Ethical issue

Following the comments of Wipro's CEO, there is some discord within the Indian IT company regarding moonlighting. The chief operating officer (CFO) of Tata Consultancy Services, NG Subramaniam, described it as an ethical dilemma, but the CEO of Tech Mahindra, CP Gurnani, said he would be receptive to the practice if it allows staff members to earn extra money. He has also forewarned the staff about fraud and expects they will be honest.

Termination warning

Another significant IT business, Infosys, has cautioned its employees against accepting a second job without first informing the employer. Infosys recently reminded all of its employees to study their employment contracts before accepting a different job in one of the letters sent to staff members by the HR department. In fact, the employer also issued a warning that if an employee accepted a second job during or after working hours, they risked being fired.

Cheating&nbsp;

The majority of IT firms have strengthened their opposition to moonlighting and threatened to fire employees who are found to be working two jobs. Moonlighting could be viewed as unfair competition if an employee's contract stipulates non-compete restrictions and exclusive employment.

Violation of integrity

Premji said, as quoted by Moneycontrol, "If you actually look at the definition of moonlighting, it is having a second job secretively I'm all about transparency. As a part of transparency, individuals in organisations can have very candid conversations." Premji was speaking at an All India Management Association event.&nbsp;

He continued by saying that businesses and individuals could concertedly choose&nbsp;to take on second employment. He repeated that existing staff working for rival companies are a "complete violation of integrity in its deepest form," alluding to the Wipro episode.

(with inputs from agencies) 
&nbsp;

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1  width=&quot;100%&quot;"></iframe>

Wipro has fired 300 employees as part of a strict stance against workers who moonlight. The company recently discovered 300 employees to be moonlighting and working for competitors, according to Wipro Chairman Rishad Premji, who added that such individuals had no place in the organisation.

Wipro has fired 300 employees as part of a strict stance against workers who moonlight. The company recently discovered 300 employees to be moonlighting and working for competitors, according to Wipro Chairman Rishad Premji, who added that such individuals had no place in the organisation. What is 'moonlighting'? The term "moonlighting" refers to doing many jobs in addition to one's regular job. Moonlighting is the phrase used to describe the practice of working for other organisations while dedicating oneself to one's primary workplace, usually without the employer's knowledge. Why companies don't allow it? Businesses disagree with the approach, claiming that having staff perform numerous tasks can reduce productivity. As working from home became the norm during the Covid-19 pandemic, which is thought to have caused an increase in dual employment, moonlighting has come under discussion in the IT industry. Ethical issue Following the comments of Wipro's CEO, there is some discord within the Indian IT company regarding moonlighting. The chief operating officer (CFO) of Tata Consultancy Services, NG Subramaniam, described it as an ethical dilemma, but the CEO of Tech Mahindra, CP Gurnani, said he would be receptive to the practice if it allows staff members to earn extra money. He has also forewarned the staff about fraud and expects they will be honest. Termination warning Another significant IT business, Infosys, has cautioned its employees against accepting a second job without first informing the employer. Infosys recently reminded all of its employees to study their employment contracts before accepting a different job in one of the letters sent to staff members by the HR department. In fact, the employer also issued a warning that if an employee accepted a second job during or after working hours, they risked being fired. Cheating The majority of IT firms have strengthened their opposition to moonlighting and threatened to fire employees who are found to be working two jobs. Moonlighting could be viewed as unfair competition if an employee's contract stipulates non-compete restrictions and exclusive employment. Violation of integrity Premji said, as quoted by Moneycontrol, "If you actually look at the definition of moonlighting, it is having a second job secretively I'm all about transparency. As a part of transparency, individuals in organisations can have very candid conversations." Premji was speaking at an All India Management Association event. He continued by saying that businesses and individuals could concertedly choose to take on second employment. He repeated that existing staff working for rival companies are a "complete violation of integrity in its deepest form," alluding to the Wipro episode. (with inputs from agencies)

Explained: What is moonlighting? Why are IT companies against it?

Indian software giant Infosys has warned its employees in an email sent out by the HR department. The email reads, “Remember - NO TWO-TIMING - NO MOONLIGHTING.” The email stresses on clauses of the employment contract which restrict employees from taking up secondary employment.

World Business Watch: ‘No two-timing, no moonlighting’, Infosys warns employees

The ever-booming Indian IT industry seems to be grappling with a new problem—moonlighting. Weeks after Wipro voiced concerns over employees “two-timing” their job, Infosys, too, came out with a warning to its workers, saying that such practice would lead to termination.

Moonlighting is a practice whereby employees take up secondary jobs in addition to their primary job, under certain conditions.

Most companies in India bar this practice and restrict employees from taking up a second job. Moreover, firms take strict action against employees taking up jobs even after their working hours.

On Monday, IT giant Infosys sent a mail with the subject line 'No two-timing, no moonlighting', warning the employees of termination if they are found to be taking up another job after their working hours.

It said that moonlighting is not permitted according to employees' code of conduct and any violation could lead to disciplinary action, Times of India newspaper said in a report.

"As clearly stated in your offer letter, you agree not to take employment, whether full-time or part-time as director/partner/member/employee of any other organisation/entity engaged in any form of business activity without the consent of Infosys. The consent may be given subject to any terms and conditions that the company may think fit and may be withdrawn at any time at the discretion of the company," the email said, according to the Times of India.

This warning comes a month after Wipro Chairman Rishad Premji termed the practice as cheating.

Watch |&nbsp;Gravitas | The moonlighting debate: Is it legal to work two jobs in India?

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-the-moonlighting-debate-is-it-legal-to-work-2-jobs-in-india-511895/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
There is a lot of chatter about people moonlighting in the tech industry. This is cheating - plain and simple.
— Rishad Premji (@RishadPremji) <a href="https://twitter.com/RishadPremji/status/1560894886026440704?ref_src=twsrc%5Etfw">August 20, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

Expressing his views on moonlighting, Premji on Twitter said, “There is a lot of chatter about people moonlighting in the tech industry. This is cheating - plain and simple,” Premji noted.

(With inputs from agencies)

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

The ever-booming Indian IT industry seems to be grappling with a new problem—moonlighting. Weeks after Wipro voiced concerns over employees “two-timing” their job, Infosys, too, came out with a warning to its workers, saying that such practice would lead to termination.

The ever-booming Indian IT industry seems to be grappling with a new problem—moonlighting. Weeks after Wipro voiced concerns over employees “two-timing” their job, Infosys, too, came out with a warning to its workers, saying that such practice would lead to termination. Moonlighting is a practice whereby employees take up secondary jobs in addition to their primary job, under certain conditions. Most companies in India bar this practice and restrict employees from taking up a second job. Moreover, firms take strict action against employees taking up jobs even after their working hours. On Monday, IT giant Infosys sent a mail with the subject line 'No two-timing, no moonlighting', warning the employees of termination if they are found to be taking up another job after their working hours. It said that moonlighting is not permitted according to employees' code of conduct and any violation could lead to disciplinary action, Times of India newspaper said in a report. "As clearly stated in your offer letter, you agree not to take employment, whether full-time or part-time as director/partner/member/employee of any other organisation/entity engaged in any form of business activity without the consent of Infosys. The consent may be given subject to any terms and conditions that the company may think fit and may be withdrawn at any time at the discretion of the company," the email said, according to the Times of India. This warning comes a month after Wipro Chairman Rishad Premji termed the practice as cheating. Watch | Gravitas | The moonlighting debate: Is it legal to work two jobs in India? There is a lot of chatter about people moonlighting in the tech industry. This is cheating - plain and simple. — Rishad Premji (@RishadPremji) August 20, 2022 × Expressing his views on moonlighting, Premji on Twitter said, “There is a lot of chatter about people moonlighting in the tech industry. This is cheating - plain and simple,” Premji noted. (With inputs from agencies) WATCH WION LIVE HERE

After Wipro, Infosys warns employees of consequences if found to be moonlighting

India's Infosys Ltd reported June-quarter profit that missed estimates, hurt by higher employee expenses, but the IT services company raised its annual revenue outlook, citing a strong demand outlook.

Infosys misses profit estimates in Quarter 1

In a televised discussion on July 18, former UK finance minister and potential candidate for prime minister Rishi Sunak addressed the controversies surrounding his family's wealth. His wife Akshata Murthy is the&nbsp; daughter of Infosys founder Narayana Murthy and author and educator Sudha Murthy. The tax arrangements of the former UK chancellor's family have long been a source of scrutiny. In the debate that ITV aired on Sunday, Sunak expressed his pride in the journey his parents-in-law had taken.

"My father-in-law came from absolutely nothing and just had a dream and a couple of hundred pounds that my mother-in-law’s savings provided him," Sunak said. "And from that, he went to build one of the world’s largest, most-respected companies, that, by the way, employs thousands of people here in the United Kingdom."

He added: "It is a story I am really proud of, and as prime minister, I want to ensure that we can create more stories like that at home."

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
“I’m incredibly proud of what my parents-in-law built” 
 
Rishi Sunak opens up about his family history in the <a href="https://twitter.com/hashtag/ITVDebate?src=hash&amp;ref_src=twsrc%5Etfw">#ITVDebate</a> 
 
Sign up at <a href="https://t.co/3cXn1rFhca">https://t.co/3cXn1rFhca</a> <a href="https://twitter.com/hashtag/Ready4Rishi?src=hash&amp;ref_src=twsrc%5Etfw">#Ready4Rishi</a> <a href="https://t.co/PfsLHyRwyX">pic.twitter.com/PfsLHyRwyX</a>
— Ready For Rishi (@RishiSunak) <a href="https://twitter.com/RishiSunak/status/1548740086908555264?ref_src=twsrc%5Etfw">July 17, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

The 42-year-old former Chancellor, who was born in the UK, was grilled during a contentious television debate about his wife's tax affairs, which made headlines earlier this year when she voluntarily gave up her legal non-domicile status in order to pay taxes on her Indian income from shares of Infosys, which were also owned by the UK.

Regarding his own US Green Card, which he purportedly renounced after a few months in the Chancellor's position at No. 11 Downing Street, Sunak was also questioned.

The argument was the most recent face-off between the five surviving contenders for the position of new British Prime Minister and leader of the Conservative Party, succeeding Boris Johnson. 
 
<a href="https://www.wionews.com/world/uk-tory-leadership-live-updates-no-one-wants-boris-johnson-in-cabinet-498410">LIVE: UK Tory leadership debate — No one wants Boris Johnson in Cabinet</a>

Before the third round of voting by Tory MPs on Monday to further limit the field and get to the final two candidates, an instant opinion poll by Opinium indicated that Sunak was the undisputed winner of the discussion on Sunday.

At least one of the candidates with the fewest votes would be eliminated, and another round is anticipated on Tuesday. The former chancellor had the highest rating from the 1,001 participants in the Opinium survey—about 24%—followed by Tom Tugendhat, chair of the Commons Foreign Affairs Committee, with 19%. Penny Mordaunt, the minister of trade, came in third with 17%, followed by Liz Truss, the secretary of state, with 15%. The viewer poll placed former equalities minister Kemi Badenoch in last place with 12% of the votes.

However, a Conservative Home website poll of the party's grassroots members that was released on Sunday night indicates that Badenoch may be gaining in favour as she has emerged as their top choice, followed by Mordaunt.According to that poll, if Badenoch and Mordaunt made it to the final two, Badenoch would win in a head-to-head matchup 59 to 31 percent of the time. Mordaunt would likewise come up short against Sunak and Truss.

(With inputs from agencies)

In a televised discussion on July 18, former UK finance minister and potential candidate for prime minister Rishi Sunak addressed the controversies surrounding his family's wealth.

In a televised discussion on July 18, former UK finance minister and potential candidate for prime minister Rishi Sunak addressed the controversies surrounding his family's wealth. His wife Akshata Murthy is the daughter of Infosys founder Narayana Murthy and author and educator Sudha Murthy. The tax arrangements of the former UK chancellor's family have long been a source of scrutiny. In the debate that ITV aired on Sunday, Sunak expressed his pride in the journey his parents-in-law had taken. "My father-in-law came from absolutely nothing and just had a dream and a couple of hundred pounds that my mother-in-law’s savings provided him," Sunak said. "And from that, he went to build one of the world’s largest, most-respected companies, that, by the way, employs thousands of people here in the United Kingdom." He added: "It is a story I am really proud of, and as prime minister, I want to ensure that we can create more stories like that at home." “I’m incredibly proud of what my parents-in-law built” Rishi Sunak opens up about his family history in the #ITVDebate Sign up at https://t.co/3cXn1rFhca #Ready4Rishi pic.twitter.com/PfsLHyRwyX — Ready For Rishi (@RishiSunak) July 17, 2022 × The 42-year-old former Chancellor, who was born in the UK, was grilled during a contentious television debate about his wife's tax affairs, which made headlines earlier this year when she voluntarily gave up her legal non-domicile status in order to pay taxes on her Indian income from shares of Infosys, which were also owned by the UK. Regarding his own US Green Card, which he purportedly renounced after a few months in the Chancellor's position at No. 11 Downing Street, Sunak was also questioned. The argument was the most recent face-off between the five surviving contenders for the position of new British Prime Minister and leader of the Conservative Party, succeeding Boris Johnson. LIVE: UK Tory leadership debate — No one wants Boris Johnson in Cabinet Before the third round of voting by Tory MPs on Monday to further limit the field and get to the final two candidates, an instant opinion poll by Opinium indicated that Sunak was the undisputed winner of the discussion on Sunday. At least one of the candidates with the fewest votes would be eliminated, and another round is anticipated on Tuesday. The former chancellor had the highest rating from the 1,001 participants in the Opinium survey—about 24%—followed by Tom Tugendhat, chair of the Commons Foreign Affairs Committee, with 19%. Penny Mordaunt, the minister of trade, came in third with 17%, followed by Liz Truss, the secretary of state, with 15%. The viewer poll placed former equalities minister Kemi Badenoch in last place with 12% of the votes. However, a Conservative Home website poll of the party's grassroots members that was released on Sunday night indicates that Badenoch may be gaining in favour as she has emerged as their top choice, followed by Mordaunt.According to that poll, if Badenoch and Mordaunt made it to the final two, Badenoch would win in a head-to-head matchup 59 to 31 percent of the time. Mordaunt would likewise come up short against Sunak and Truss. (With inputs from agencies)

Watch: Rishi Sunak says he is proud of parents-in-law, Infosys founder Narayana Murthy and Sudha Murthy

The controversy regarding the wealth of England’s finance minister Rishi Sunak and wife Akshata Murty has been brewing for quite some time. Murty, the daughter of IT firm Infosys co-founder Narayan Murty, currently has 0.9 per cent stake in the company and that earned her £11.6m in dividend income last year. As a result, Sunak became the first major politician to feature in the Sunday Times rich list as the pair was placed in the 222nd spot with an estimated £730m valuation.

This was the first time since 1989 that a major politician was part of the list and with the country going through inflation and soaring fuel prices, this can put Sunak under the spotlight once again.

Also read |&nbsp;<a href="https://www.wionews.com/south-asia/china-looking-to-construct-military-bases-in-pakistan-report-480699" hreflang="en">China looking to construct military outposts in Pakistan: Report</a>

According to The Guardian, Sunak owns four houses worth an estimated £15m, including a £5m Santa Monica penthouse. Justice secretary Dominic Raab reacted to Sunak’s inclusion to the list and said that this does not mean that he is not in touch with the struggles of the general public.

“He’s a fantastic example of someone who’s been successful in business, who’s coming to make a big impact in public service. I think we want more of those people,” Raab told Times Radio.

Also read |&nbsp;<a href="https://www.wionews.com/world/black-lives-matter-paid-4-million-to-people-close-to-co-founder-patrisse-cullors-report-480700">BLM paid $4 million to people close to co-founder Patrisse Cullors - Report</a>

I think it’s fantastic that you’ve got someone of British-Indian origin, showing all people in our country that you can get to the top of politics. And frankly, I think if I understood correctly, the Sunday Times rich list was a reflection of not just him but his wife. His wife is an incredibly successful entrepreneur in her own right.” Raab explained while commenting on Sunday Times list.

WATCH WION LIVE HERE -

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

The controversy regarding the wealth of England’s finance minister Rishi Sunak and wife Akshata Murty has been brewing for quite some time. Murty, the daughter of IT firm Infosys co-founder Narayan Murty, currently has 0.

The controversy regarding the wealth of England’s finance minister Rishi Sunak and wife Akshata Murty has been brewing for quite some time. Murty, the daughter of IT firm Infosys co-founder Narayan Murty, currently has 0.9 per cent stake in the company and that earned her £11.6m in dividend income last year. As a result, Sunak became the first major politician to feature in the Sunday Times rich list as the pair was placed in the 222nd spot with an estimated £730m valuation. This was the first time since 1989 that a major politician was part of the list and with the country going through inflation and soaring fuel prices, this can put Sunak under the spotlight once again. Also read | China looking to construct military outposts in Pakistan: Report According to The Guardian, Sunak owns four houses worth an estimated £15m, including a £5m Santa Monica penthouse. Justice secretary Dominic Raab reacted to Sunak’s inclusion to the list and said that this does not mean that he is not in touch with the struggles of the general public. “He’s a fantastic example of someone who’s been successful in business, who’s coming to make a big impact in public service. I think we want more of those people,” Raab told Times Radio. Also read | BLM paid $4 million to people close to co-founder Patrisse Cullors - Report I think it’s fantastic that you’ve got someone of British-Indian origin, showing all people in our country that you can get to the top of politics. And frankly, I think if I understood correctly, the Sunday Times rich list was a reflection of not just him but his wife. His wife is an incredibly successful entrepreneur in her own right.” Raab explained while commenting on Sunday Times list. WATCH WION LIVE HERE - You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

UK finance minister Rishi Sunak and wife Akshata Murty make Sunday Times Rich List debut

Equity benchmark indices, which resumed trading after a long holiday, faced heavy drubbing on Monday, with the Sensex plunging over 1,186 points in early trade.

The key index was dragged down by heavyweights Infosys and HDFC Bank amid weak trend in Asian markets.

Stock markets were closed on Thursday for Mahavir Jayanti and Dr Babasaheb Ambedkar Jayanti, as well as on Friday on account of Good Friday.

Also read |&nbsp;<a href="https://www.wionews.com/world/amidst-row-surrounding-uk-fm-rishi-sunak-wife-akshata-indias-infosys-exits-russia-470800">Amidst row surrounding UK FM Rishi Sunak &amp; wife Akshata, India’s Infosys exits Russia</a>

The Sensex was trading 1,186.18 points lower at 57,152.75 in early trade. The Nifty tumbled 314.95 points to 17,160.70.

From the 30-share pack, Infosys, Tech Mahindra, TCS, HDFC, HDFC Bank, Wipro and HCL Technologies were among the major laggards in early trade.

In contrast, NTPC, Tata Steel, M&amp;M, Maruti and Power Grid were among the gainers.

Shares of Infosys tanked 8.95 per cent to Rs 1,592.05 on the BSE despite the country's second-largest software services firm last week reporting a 12 per cent year-on-year increase in consolidated net profit for the March quarter at Rs 5,686 crore.

Watch |&nbsp;India inflation soars to 17-month high

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/india-inflation-soars-to-17-month-high-470674/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

HDFC Bank declined 3.35 per cent to Rs 1,415.75 even as the largest domestic private sector lender Bank on Saturday posted a 22.8 per cent jump in its standalone net profit at Rs 10,055.2 crore for the quarter ended March 2022.

In Asia, markets were trading lower, with Seoul, Shanghai and Tokyo quoting in the red in mid-session deals.

Stocks in the US had ended lower on Thursday.

International oil benchmark Brent crude gained 1.01 per cent to USD 112.83 per barrel.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/indias-inflation-surges-in-march-lemon-prices-skyrocket-470675">India's inflation surges in March; lemon prices skyrocket</a>

On Wednesday, the Sensex declined 237.44 points or 0.41 per cent to settle at 58,338.93. The NSE Nifty dipped 54.65 points or 0.31 per cent to finish at 17,475.65.

Foreign institutional investors continued to offload shares worth Rs 2,061.04 crore on Wednesday, according to exchange data.

Equity benchmark indices, which resumed trading after a long holiday, faced heavy drubbing on Monday, with the Sensex plunging over 1,186 points in early trade. The key index was dragged down by heavyweights Infosys and HDFC Bank amid weak trend in Asian markets.

Equity benchmark indices, which resumed trading after a long holiday, faced heavy drubbing on Monday, with the Sensex plunging over 1,186 points in early trade. The key index was dragged down by heavyweights Infosys and HDFC Bank amid weak trend in Asian markets. Stock markets were closed on Thursday for Mahavir Jayanti and Dr Babasaheb Ambedkar Jayanti, as well as on Friday on account of Good Friday. Also read | Amidst row surrounding UK FM Rishi Sunak & wife Akshata, India’s Infosys exits Russia The Sensex was trading 1,186.18 points lower at 57,152.75 in early trade. The Nifty tumbled 314.95 points to 17,160.70. From the 30-share pack, Infosys, Tech Mahindra, TCS, HDFC, HDFC Bank, Wipro and HCL Technologies were among the major laggards in early trade. In contrast, NTPC, Tata Steel, M&M, Maruti and Power Grid were among the gainers. Shares of Infosys tanked 8.95 per cent to Rs 1,592.05 on the BSE despite the country's second-largest software services firm last week reporting a 12 per cent year-on-year increase in consolidated net profit for the March quarter at Rs 5,686 crore. Watch | India inflation soars to 17-month high HDFC Bank declined 3.35 per cent to Rs 1,415.75 even as the largest domestic private sector lender Bank on Saturday posted a 22.8 per cent jump in its standalone net profit at Rs 10,055.2 crore for the quarter ended March 2022. In Asia, markets were trading lower, with Seoul, Shanghai and Tokyo quoting in the red in mid-session deals. Stocks in the US had ended lower on Thursday. International oil benchmark Brent crude gained 1.01 per cent to USD 112.83 per barrel. Also read | India's inflation surges in March; lemon prices skyrocket On Wednesday, the Sensex declined 237.44 points or 0.41 per cent to settle at 58,338.93. The NSE Nifty dipped 54.65 points or 0.31 per cent to finish at 17,475.65. Foreign institutional investors continued to offload shares worth Rs 2,061.04 crore on Wednesday, according to exchange data.

Sensex plunges 1,186 points in early trade; Nifty tests 17,160 level

The Indian software giant Infosys has finally joined the corporate boycott of Russia over its invasion of Ukraine. Speaking to media at its headquarters in India's Bengaluru Infosys said it would move its business out of the country and pursue alternate options.

India's software giant Infosys announces withdrawal from Russia

In the wake of accusations levelled against Rishi Sunak over the alleged Russian link, Indian IT firm behemoth Infosys has announced to move its business out of the Russian market.

There has been growing pressure on UK’s Finance Minister Rishi Sunak over Infosys, the company co-founded by his father-in-law, not moving out of Russia following the Ukrainian war.

He has also been facing pressure over his wife Akshata Murty, the daughter of Infosys’ co-founder, Narayan Murthy, reportedly holding 0.9 per cent shares of the firm.

It has been alleged that she did not pay tax on earnings from outside Britain, news agency Reuters reported.

On Wednesday, the company announced that it was "transitioning" out of the Russian market.

During a media briefing, Infosys chief executive and managing director Salil Parekh said, “Given what is going on in the region, we have started to transition all of our work from our centres in Russia to our centres outside Russia."

"We have no work with any Russian client today and we have no plans for any work with any Russian client going ahead," he added.

Parekh said the company was "very concerned" about the situation in Ukraine and had committed $1 million in humanitarian aid.

Infosys has been facing heat to cease operations after many IT firms suspended their operations. It had been maintaining "a small team... based out of Russia that services some of our global clients" until now.

<a href="https://www.wionews.com/world/ukraine-russia-war-rishi-sunaks-wife-akshata-murthy-under-scanner-over-infosys-shares-467642">Also read |&nbsp;Ukraine-Russia war: Rishi Sunak's wife Akshata Murthy under scanner over Infosys shares</a>

Notably, during an interview to Sky News, he was whether his family was “potentially benefiting” from Russian President Vladimir Putin’s regime, to which Sunak replied, “I don’t think that’s the case, and as I said the operations of all companies are up to them.

“We’ve put in place significant sanctions and all the companies we are responsible for are following those as they rightly should, sending a very strong message to Putin’s aggression," he had replied.

Watch |&nbsp;Gravitas: Rishi Sunak grilled over alleged Russia link

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-rishi-sunak-grilled-over-alleged-russia-link-465573/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

(With inputs from agencies)

In the wake of accusations levelled against Rishi Sunak over the alleged Russian link, Indian IT firm behemoth Infosys has announced to move its business out of the Russian market.

In the wake of accusations levelled against Rishi Sunak over the alleged Russian link, Indian IT firm behemoth Infosys has announced to move its business out of the Russian market. There has been growing pressure on UK’s Finance Minister Rishi Sunak over Infosys, the company co-founded by his father-in-law, not moving out of Russia following the Ukrainian war. He has also been facing pressure over his wife Akshata Murty, the daughter of Infosys’ co-founder, Narayan Murthy, reportedly holding 0.9 per cent shares of the firm. It has been alleged that she did not pay tax on earnings from outside Britain, news agency Reuters reported. On Wednesday, the company announced that it was "transitioning" out of the Russian market. During a media briefing, Infosys chief executive and managing director Salil Parekh said, “Given what is going on in the region, we have started to transition all of our work from our centres in Russia to our centres outside Russia." "We have no work with any Russian client today and we have no plans for any work with any Russian client going ahead," he added. Parekh said the company was "very concerned" about the situation in Ukraine and had committed $1 million in humanitarian aid. Infosys has been facing heat to cease operations after many IT firms suspended their operations. It had been maintaining "a small team... based out of Russia that services some of our global clients" until now. Also read | Ukraine-Russia war: Rishi Sunak's wife Akshata Murthy under scanner over Infosys shares Notably, during an interview to Sky News, he was whether his family was “potentially benefiting” from Russian President Vladimir Putin’s regime, to which Sunak replied, “I don’t think that’s the case, and as I said the operations of all companies are up to them. “We’ve put in place significant sanctions and all the companies we are responsible for are following those as they rightly should, sending a very strong message to Putin’s aggression," he had replied. Watch | Gravitas: Rishi Sunak grilled over alleged Russia link (With inputs from agencies)

Amidst row surrounding UK FM Rishi Sunak & wife Akshata, India’s Infosys exits Russia

An internal inquiry has been launched into how the tax affairs of Akshata Murty, daughter of Infosys co-founder Narayana Murthy, were leaked to a newspaper, according to UK media reports on Sunday.

The Whitehall investigation within UK government quarters will look into how the information about the non-domicile status of the wife of Chancellor Rishi Sunak was passed on to 'The Independent' newspaper, which first published the story earlier this week.

According to The Sunday Times', Sunak's team believes an Opposition Labour Party supporting government official dubbed "red throat" is responsible for the leak.

Also read |&nbsp;<a href="https://www.wionews.com/world/top-members-of-conservative-party-dash-rishi-sunaks-hopes-of-becoming-british-prime-minister-469883">Top members of Conservative Party dash Rishi Sunak's hopes of becoming British prime minister: Report</a>

There's going to be a full Cabinet Office and HM Treasury investigation into who had that information and if anyone has requested that information. Divulging the tax status of a private individual is a criminal offence,? the paper quoted an unnamed senior government official as saying.

The revelation that the Chancellor's wife, who is an Indian national, was "non-domiciled" in the UK for tax purposes meant she was not legally bound to pay taxes on her overseas earnings.

This led to allegations of hypocrisy from the Opposition benches, pointing to recent tax rises imposed by the Indian-origin finance minister. The Labour Party accused his family of potentially saving millions as a result of Murty's tax arrangement.

On Friday, Akshata announced that she would pay tax in the UK on all her income in order to avoid the issue being a continued distraction&nbsp;for her husband.

Watch |&nbsp;Rishi Sunak's wife Akshata Murty claims non-domicile status

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/rishi-sunaks-wife-akshata-murty-claims-non-domicile-status-469158/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

My decision to pay UK tax on all my worldwide income will not change the fact that India remains the country of my birth, citizenship, parents' home and place of domicile. But I love the UK too, Murty said in a Twitter statement on Saturday.

It comes as a new opinion poll by Opinium shows Sunak's approval rating dropped by three points to 28 per cent since late March and his disapproval rating has risen by eight points to 43 per cent.

This reflects the damage to his prospects as a future leader of the Conservative Party and a key candidate tipped to succeed Boris Johnson as Prime Minister.

Meanwhile,The Sun' reports that Johnson gave his finance minister and neighbour at 11 Downing Street a pep talk over the weekend and convinced him against resigning over the tax storm.

Also read |&nbsp;<a href="https://www.wionews.com/world/uk-finance-minister-under-new-attack-despite-wifes-tax-u-turn-469704">UK finance minister under new attack despite wife's tax U-turn</a>

Sunak's team told the newspaper that the prime minister has been super supportive of the Cabinet minister.

He was considering whether he could withstand his family taking this any more, one of them was quoted as saying.

Within his own Tory party, many are now questioning Sunak's judgment and a Cabinet minister who admires him was quoted as saying: This might well make him walk away.

An internal inquiry has been launched into how the tax affairs of Akshata Murty, daughter of Infosys co-founder Narayana Murthy, were leaked to a newspaper, according to UK media reports on Sunday.

An internal inquiry has been launched into how the tax affairs of Akshata Murty, daughter of Infosys co-founder Narayana Murthy, were leaked to a newspaper, according to UK media reports on Sunday. The Whitehall investigation within UK government quarters will look into how the information about the non-domicile status of the wife of Chancellor Rishi Sunak was passed on to 'The Independent' newspaper, which first published the story earlier this week. According to The Sunday Times', Sunak's team believes an Opposition Labour Party supporting government official dubbed "red throat" is responsible for the leak. Also read | Top members of Conservative Party dash Rishi Sunak's hopes of becoming British prime minister: Report There's going to be a full Cabinet Office and HM Treasury investigation into who had that information and if anyone has requested that information. Divulging the tax status of a private individual is a criminal offence,? the paper quoted an unnamed senior government official as saying. The revelation that the Chancellor's wife, who is an Indian national, was "non-domiciled" in the UK for tax purposes meant she was not legally bound to pay taxes on her overseas earnings. This led to allegations of hypocrisy from the Opposition benches, pointing to recent tax rises imposed by the Indian-origin finance minister. The Labour Party accused his family of potentially saving millions as a result of Murty's tax arrangement. On Friday, Akshata announced that she would pay tax in the UK on all her income in order to avoid the issue being a continued distraction for her husband. Watch | Rishi Sunak's wife Akshata Murty claims non-domicile status My decision to pay UK tax on all my worldwide income will not change the fact that India remains the country of my birth, citizenship, parents' home and place of domicile. But I love the UK too, Murty said in a Twitter statement on Saturday. It comes as a new opinion poll by Opinium shows Sunak's approval rating dropped by three points to 28 per cent since late March and his disapproval rating has risen by eight points to 43 per cent. This reflects the damage to his prospects as a future leader of the Conservative Party and a key candidate tipped to succeed Boris Johnson as Prime Minister. Meanwhile,The Sun' reports that Johnson gave his finance minister and neighbour at 11 Downing Street a pep talk over the weekend and convinced him against resigning over the tax storm. Also read | UK finance minister under new attack despite wife's tax U-turn Sunak's team told the newspaper that the prime minister has been super supportive of the Cabinet minister. He was considering whether he could withstand his family taking this any more, one of them was quoted as saying. Within his own Tory party, many are now questioning Sunak's judgment and a Cabinet minister who admires him was quoted as saying: This might well make him walk away.

UK inquiry launched into Akshata Murty's tax affairs leak

British finance minister Rishi Sunak's wife, Akshata Murthy, has agreed to pay more tax on foreign income.

"I understand and appreciate the British sense of fairness and I do not wish my tax status to be a distraction for my husband or to affect my family," she said.

"This means I will now pay UK tax on an arising basis on all my worldwide income, including dividends and capital gains, wherever in the world that income arises".

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-rishi-sunak-grilled-over-alleged-russia-link-465573/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Murty stressed that she was making the change "because I want to, not because the rules require me to", adding that the new arrangements will begin "immediately".

Sunak's wife Akshata Murthy, daughter of Indian billionaire NR Narayana Murthy, was apparently able to save millions of pounds in tax on dividends, which are collected from her family's IT business.&nbsp;

Last year, she earned a dividend payment worth 11.6 million pounds ($15.1 million) as she owns about 0.9 per cent of Indian IT giant Infosys.&nbsp;

<a href="https://www.wionews.com/world/uks-rishi-sunak-uses-will-smith-chris-rock-oscar-slap-in-remarks-on-wifes-infosys-russia-link-467432">Also read |&nbsp;UK's Rishi Sunak uses Will Smith- Chris Rock Oscar slap in remarks on wife's Infosys-Russia link</a>

Since 2015, she has received 54.5 million pounds ($71 million) in dividends from the family company as per an estimate by 'The Guardian' newspaper.

It claimed that her status allowed her to avoid paying 20 million pounds of tax to the British exchequer.

Sunak has accused critics of mounting a "smear" campaign against his wealthy Indian wife. He told Friday's edition of The Sun newspaper that "to smear my wife to get at me is awful".

His popularity has plummeted in recent weeks after a surge in consumer prices. The public anger over Murthy's tax status has been heightened by her husband's decision to increase payroll taxes.

Rejecting criticism against Sunak, Prime Minister Boris Johnson said Rishi is doing an absolutely outstanding job."&nbsp;

Britons are currently facing the biggest cost-of-living squeeze since records began in 1956.

(With inputs from agencies)

British finance minister Rishi Sunak's wife, Akshata Murthy, has agreed to pay more tax on foreign income. "I understand and appreciate the British sense of fairness and I do not wish my tax status to be a distraction for my husband or to affect my family," she said.

British finance minister Rishi Sunak's wife, Akshata Murthy, has agreed to pay more tax on foreign income. "I understand and appreciate the British sense of fairness and I do not wish my tax status to be a distraction for my husband or to affect my family," she said. "This means I will now pay UK tax on an arising basis on all my worldwide income, including dividends and capital gains, wherever in the world that income arises". Murty stressed that she was making the change "because I want to, not because the rules require me to", adding that the new arrangements will begin "immediately". Sunak's wife Akshata Murthy, daughter of Indian billionaire NR Narayana Murthy, was apparently able to save millions of pounds in tax on dividends, which are collected from her family's IT business. Last year, she earned a dividend payment worth 11.6 million pounds ($15.1 million) as she owns about 0.9 per cent of Indian IT giant Infosys. Also read | UK's Rishi Sunak uses Will Smith- Chris Rock Oscar slap in remarks on wife's Infosys-Russia link Since 2015, she has received 54.5 million pounds ($71 million) in dividends from the family company as per an estimate by 'The Guardian' newspaper. It claimed that her status allowed her to avoid paying 20 million pounds of tax to the British exchequer. Sunak has accused critics of mounting a "smear" campaign against his wealthy Indian wife. He told Friday's edition of The Sun newspaper that "to smear my wife to get at me is awful". His popularity has plummeted in recent weeks after a surge in consumer prices. The public anger over Murthy's tax status has been heightened by her husband's decision to increase payroll taxes. Rejecting criticism against Sunak, Prime Minister Boris Johnson said Rishi is doing an absolutely outstanding job." Britons are currently facing the biggest cost-of-living squeeze since records began in 1956. (With inputs from agencies)

British finance minister Rishi Sunak's wife agrees to pay more tax on foreign income

According to reports, UK's chancellor of exchequer Rishi Sunak's wife Akshata Murthy's stakes in tech firm Infosys operating in Russia has come under scrutiny in British Parliament.

Reports claim Akshata Murthy owns &nbsp;0.91 per cent stake in Infosys estimated to be worth $524.62. Sunak had said earlier that neither he nor her family members were involved in "operational decisions of the company". Akshata's father NR Narayana Murthy had co-founded the IT services company in the 1980s.

However, UK lawmakers had questioned Sunak and wanted to know whether his family was benefitting from&nbsp;shareholding. The tech firm has reportedly decided to close&nbsp;its Moscow office and is looking to find replacement roles for its staff.

<a href="https://www.wionews.com/world/china-launched-cyberattack-against-ukraine-before-russian-invasion-report-467623">Also Read:&nbsp;China launched cyberattack against Ukraine before Russian invasion</a>

Infosys had said earlier that it had a "small team" in Moscow and did not have "business relationships with local Russian enterprises”. Sunak had expressed his unhappiness over his wife being targeted calling it "upsetting" as he emphasised that he had "enormous pride and admiration" for his father-in-law adding that he is "wonderful and has achieved a huge amount".

Watch:&nbsp;Rishi Sunak compares himself to Will Smith over wife criticism

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/uk-rishi-sunak-compares-himself-to-will-smith-over-wife-criticism-467472/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Infosys had reportedly opened an engineering unit in the Russian capital in 2016. Several global IT firms including consultancy firms namely KPMG, McKinsey and others have pulled out of Russia after President Putin's forces attacked Ukraine on February 24.

The Boris Johnson government has imposed far-reaching sanctions against Russia in the aftermath of the Ukraine invasion targeting various sectors including Oligarchs and media operations close&nbsp;to President Putin.

The UK government recently also targeted Russian Colonel-General Mikhail Mizintsev who is reportedly the head of National Defence Control Centre.

(With inputs from Agencies)

According to reports, UK's chancellor of exchequer Rishi Sunak's wife Akshata Murthy's stakes in tech firm Infosys operating in Russia has come under scrutiny in British Parliament.

According to reports, UK's chancellor of exchequer Rishi Sunak's wife Akshata Murthy's stakes in tech firm Infosys operating in Russia has come under scrutiny in British Parliament. Reports claim Akshata Murthy owns 0.91 per cent stake in Infosys estimated to be worth $524.62. Sunak had said earlier that neither he nor her family members were involved in "operational decisions of the company". Akshata's father NR Narayana Murthy had co-founded the IT services company in the 1980s. However, UK lawmakers had questioned Sunak and wanted to know whether his family was benefitting from shareholding. The tech firm has reportedly decided to close its Moscow office and is looking to find replacement roles for its staff. Also Read: China launched cyberattack against Ukraine before Russian invasion Infosys had said earlier that it had a "small team" in Moscow and did not have "business relationships with local Russian enterprises”. Sunak had expressed his unhappiness over his wife being targeted calling it "upsetting" as he emphasised that he had "enormous pride and admiration" for his father-in-law adding that he is "wonderful and has achieved a huge amount". Watch: Rishi Sunak compares himself to Will Smith over wife criticism Infosys had reportedly opened an engineering unit in the Russian capital in 2016. Several global IT firms including consultancy firms namely KPMG, McKinsey and others have pulled out of Russia after President Putin's forces attacked Ukraine on February 24. The Boris Johnson government has imposed far-reaching sanctions against Russia in the aftermath of the Ukraine invasion targeting various sectors including Oligarchs and media operations close to President Putin. The UK government recently also targeted Russian Colonel-General Mikhail Mizintsev who is reportedly the head of National Defence Control Centre. (With inputs from Agencies)

Ukraine-Russia war: Rishi Sunak's wife Akshata Murthy under scanner over Infosys shares

The Chancellor of the Exchequer of the United Kingdom, Rishi Sunak, has denied any ties to Infosys, the multinational software business part-owned by his wife and still operating in Russia during the conflict in Ukraine.

As most allies slapped harsh economic sanctions on Russia in response to its invasion of Ukraine, Rishi Sunak, the son-in-law of Infosys co-founder Narayana Murthy, was questioned by a Sky News reporter why his business advice was not being followed at home.

The chancellor stated that he had "nothing to do" with Infosys, a company in which his wife, Akshata Murthy, owns stock.&nbsp;

Sunak's representative stated that his wife played no part in the operational decisions made by Infosys.

According to the most recent annual report from Infosys, Akshata Murthy owns 0.9 percent of the company's stock, valued at hundreds of millions of pounds.&nbsp;

Sunak told Sky News: "I'm an elected politician, and I'm here to talk to you about what I'm responsible for. My wife is not. " He added that companies' operations were "up to them". "We've put in place significant sanctions and all the companies we're responsible for are following those, as they rightly should," said the chancellor.

Akshata Murthy's father, N.R. Narayana Murthy, co-founded Infosys and departed from the firm in 2014.

The firm, which was founded in 1981, has subsequently expanded into a number of nations and has a presence in Moscow.

Sunak has pushed British businesses to leave Russia in order to cause "economic agony" for President Vladimir Putin.

"I'm advising asset owners and managers to think twice about any investments that assist Putin and his administration in any way."

Furthermore, India has not imposed trade restrictions on Russia as a result of sanctions, and most Indian enterprises continue to operate in the nation.&nbsp;

Infosys stated in a statement that it "supports and advocates for peace" between Russia and Ukraine.

According to the report, Infosys has a small team of employees in Russia that provides local services to some worldwide clients.

They also stated that they have no active business contacts with Russian companies in the area.

(With inputs from agencies)

The Chancellor of the Exchequer of the United Kingdom, Rishi Sunak, has denied any ties to Infosys, the multinational software business part-owned by his wife and still operating in Russia during the conflict in Ukraine.

The Chancellor of the Exchequer of the United Kingdom, Rishi Sunak, has denied any ties to Infosys, the multinational software business part-owned by his wife and still operating in Russia during the conflict in Ukraine. As most allies slapped harsh economic sanctions on Russia in response to its invasion of Ukraine, Rishi Sunak, the son-in-law of Infosys co-founder Narayana Murthy, was questioned by a Sky News reporter why his business advice was not being followed at home. The chancellor stated that he had "nothing to do" with Infosys, a company in which his wife, Akshata Murthy, owns stock. Sunak's representative stated that his wife played no part in the operational decisions made by Infosys. According to the most recent annual report from Infosys, Akshata Murthy owns 0.9 percent of the company's stock, valued at hundreds of millions of pounds. Sunak told Sky News: "I'm an elected politician, and I'm here to talk to you about what I'm responsible for. My wife is not. " He added that companies' operations were "up to them". "We've put in place significant sanctions and all the companies we're responsible for are following those, as they rightly should," said the chancellor. Akshata Murthy's father, N.R. Narayana Murthy, co-founded Infosys and departed from the firm in 2014. The firm, which was founded in 1981, has subsequently expanded into a number of nations and has a presence in Moscow. Sunak has pushed British businesses to leave Russia in order to cause "economic agony" for President Vladimir Putin. "I'm advising asset owners and managers to think twice about any investments that assist Putin and his administration in any way." Furthermore, India has not imposed trade restrictions on Russia as a result of sanctions, and most Indian enterprises continue to operate in the nation. Infosys stated in a statement that it "supports and advocates for peace" between Russia and Ukraine. According to the report, Infosys has a small team of employees in Russia that provides local services to some worldwide clients. They also stated that they have no active business contacts with Russian companies in the area. (With inputs from agencies)

UK finance minister Rishi Sunak questioned over Infosys presence in Russia

infosys

Infosys, News on Infosys, stories on Infosys, articles on Infosys, Infosys stories at Wion, Infosys news, Infosys latest news