Tuesday, 13 November 2018

Flipkart Group CEO Binny Bansal Steps Down After Allegation Of Serious Personal Misconduct

Flipkart Group Chief Executive Officer Binny Bansal quit following an investigation into alleged “serious personal misconduct” even as he denied the allegation.
Image result for binny bansal resigns
“His decision follows an independent investigation done on behalf of Flipkart and Walmart into an allegation of serious personal misconduct,” Walmart Inc. said in a press statement. “He strongly denies the allegation. Nevertheless, we had a responsibility to ensure the investigation was deliberate and thorough.”
Walmart said while the investigation “did not find evidence to corroborate the complainant’s assertions against Bansal, it did reveal other lapses in judgement, particularly a lack of transparency, related to how Binny responded to the situation. Because of this, we have accepted his decision to resign.”
The statement didn’t give details of the allegations against Bansal.
Kalyan Krishnamurthy will continue as the CEO of Flipkart, which will now include Myntra and Jabong, Walmart said. Ananth Narayanan will continue as the CEO of Myntra and Jabong and will report to Krishnamurthy.
Bansal’s resignation marks the exit of co-founders from India’s largest online retailer. Sachin Bansal (not related to Binny) had exited the company they founded more than a decade ago after selling his stake to Walmart earlier this year.
This is a developing story.
Sourced from https://www.bloombergquint.com

Over 1 Cr consumers may lose LPG connection from December 1

The Central government has asked gas agencies like Bharatgas, HP Gas and Indane to complete the KYC of consumers who have not yet submitted Aadhaar or opted for 'Give it Up' scheme by 30 November. Those who have given up gas subsidy need to get the KYC done. Notably, a massive number of users are yet to go through the KYC exercise.

A large number of consumers had not done the KYC when government had started the process to link gas connections with bank account of consumers three years ago. These consumers couldn't get gas subsidy. Consumers whose annual income was above Rs 10 lakh also couldn't get the benefit. 
According to the report, the government has said that KYC of those who have opted to give up subsidy will help eliminate ineligible consumers. This will improve the supply of cylinders to such consumers. 
One crore gas consumers are yet to get the KYC done. Most of these are from states like Delhi, Uttar Pradesh and Maharashtra.  
Last month, UIDAI had said beneficiaries can continue to withdraw LPG subsidy and other government payments using Aadhaar authentication from micro-ATMs at their doorstep.

sourced from http://detail.br.oppo.rozbuzz.com