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The two biggest lenders of India, ICICI Bank and HDFC Bank will be treated as foreign banks from now. Both the banks have a situation of overseas investors owning more than 51% equity. The government finally decided not to carry anymore changes to its new policy on overseas investment. The Govern

The US government is not indulged in any trick of diplomacy while luring employees from overseas with the remuneration of assured 1 dollar per day as strongly condemned by the US today. The reports conveyed that less than a dollar is paid to foreign employees as salary per day that comes under the compensation plans based on "prevailing wage rates and compensation practice" in the periphery of employment policy.

India Inc believes the move by the Barack Obama administration to reduce tax breaks for US firms that ship jobs overseas will hit American companies more than impact on the Indian outsourcing industry. "It's a more US-US issue rather than one aimed at stopping outsourcing, or off-shoring, or anything to do with India," said Som Mittal, president of the National Association of Software and Service Companies (Nasscom), a representative boddy for the industry.