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Software services major Infosys has reduced the variable payout for employees for the first quarter of FY23 due to the impact on margins.

An email sent to employees, a copy of which Moneycontrol has accessed, said that at an organisation level, the average variable payout is 70 percent. Infosys’ move to reduce payout comes days after its rivals such as TCS and Wipro deferred or reduced variable payouts for the April-June quarter in a bid to defend margins. IT companies' margins have come under pressure due to rising employee costs such as salary hikes and paying a premium for hiring talent, even as they grapple with increased attrition.

Union home minister Amit Shah on Sunday led the saffron blitzkrieg against the K Chandrashekhar-led TRS government in Telangana from battleground Munugode, 85km off Hyderabad, where a bypoll is being held in the run-up to the high-stakes assembly polls next year.

Calling an end to the “corrupt” TRS regime at the “samara bheri (war cry)” rally, Shah urged voters to ensure the victory of BJP candidate Komatireddy Raj Gopal Reddy, whose resignation from Congress and the Munugode seat necessitated the bypoll. “Raj Gopal Reddy’s poll victory is not just for Munugode, but the beginning of the end of the TRS regime, which will sink into oblivion after the assembly elections.”

Telangana will soon have a BJP CM and Raj Gopal's bypoll victory will be the harbinger, Shah declared.

India's century-old Delhi Cantonment Railway station will soon be redeveloped into a world-class establishment for the passengers' convenience. The railway station will be constructed at a cost of Rs 335 crores and is expected to be completed within 30 months. Indian Railways has been redeveloping stations with 'world-class' amenities to give passengers an enhanced travel experience. `

After a lot of brainstorming, Indian Railways has finally shared the new look on Twitter. "Mighty Transformation: A look at the proposed design of Delhi Cantonment Railway Station, to be redeveloped into a world-class establishment," read the tweet. 

The bank has already made a representation to the Reserve Bank of India (RBI) based on the improvement in financial parameters on a sustained basis for the past five quarters, sources said.

According to sources, the RBI is looking at the bank's request and may take a view on this soon based on quantitative and qualitative parameters.

Central Bank of India reported a 14.2 per cent rise in net profit to Rs 234.78 crore in the first quarter ended June this fiscal as compared to Rs 205.58 crore in the same quarter a year ago.

In the latest quarter, the bank's gross NPA fell to 14.9 per cent of the gross advances as compared to 15.92 per cent in the year-ago period. Net NPAs too declined to 3.93 per cent from 5.09 per cent in the first quarter of the previous year.

Travelling to Northeastern states is becoming easier as their air, rail and road connectivity is getting enhanced in the region. Nagaland’s capital Kohima will soon be on India’s railway map after it gets connected to the town of Dimapur via rail. The 83 km long rail track will benefit over 2.5 million people and will boost tourism in the state. The cost of Dimapur-Kohima rail project is around Rs 6,648 crore. The Indian Railways track will pass through 8 railway stations including Zuzba, 22 major rail bridges and 21 tunnels. The height of the highest bridge will be 51 metres.

Starting from Dimapur, the track will terminate at Zubza near Kohima. The region not only has a diffcult terrain, it is also part of seasmic zone 5 making it highly prone to earthquakes. Therefore, Indian Railways is using latest technology in the construction of rail bridges making them sturdy and long lasting. Due to the terrain, the major portion of this track will either elevated or will pass through tunnels which have a total length of 31 km. The longest tunnel on this track will be 6.5 km long. The track will pass through four districts of Nagaland, and its work will finish in three phases.