Main Page                                                 Archives

Aussies to outsource 50,000 bank jobs to India

     Sydney: Banks in Australia have reportedly activated an aggressive process which could eventually see them outsourcing about 50,000 jobs to India. According to a report in The Australian, ANZ Bank, has already boosted developer numbers at its Bangalore software facility in India by over 30 percent since last year. Two other large banks - National Australia Bank and Westpac - also confirmed last week that they had engaged Tata Consultancy Services to perform project work in India. In the past year, ANZ has boosted employee numbers from 400 to over 530, a growth of 32 percent. When ANZ sold its India- based Grindlay's Bank subsidiary to the Standard Chartered Bank in 2000, it retained ownership of Grindlay's information technology operation. Now called ANZ IT, the India-based facility is a central component of the bank's software development and support infrastructure. ANZ is also using Tata Consultancy Services to develop its custodian services project. Westpac has also confirmed that it has engaged Tata on a one-off software development project. National Australia Bank used Tata in 2000 and 2001. Meanwhile, the global business consultancy, Deloitte Research, expects 15 per cent of the finance sector workforce to be relocated to cheaper labour markets by 2008. Deloitte estimates that over of Australia's present finance sector workforce of 344,000 will be moved offshore within three years.

Teachers bless Sania Mirza (Go To Top)

     Hyderabad: Proud teachers and former classmates of Sania Mirza wished her good luck as she became the first Indian woman to enter the third round of a grand slam tennis event at the Australian Open in Melbourne. Mirza (18) fashioned a stunning win over 84th ranked Petra Mandula of Hungary in the second round. The teenaged tennis star is now all set for her upcoming clash with tennis diva, 7th seeded Serena Williams in the third round. Mirza's teachers at the Nazar School in Hyderabad urged their prodigy to perform her best saying it was her grit and determination and not win or loss, which mattered. "We are very delighted because her hard work and effort has paid off and now entering the third round and playing against Serena Williams, it was a dream for her to play against the Williams. It is more important since she is playing such a big match, especially when her parents are not with her as they have gone for Haj. It is an important feat for her, winning or losing is not important," said Madhubala Kapoor, Mirza's school principal. Mirza has outdone the best performance ever by Nirupama Sanjeev, the only other Indian to make it to the second round of the Australian Open in 1998. The Hyderabadi girl is ranked 197th in the world.