Helping Movement Mortgage raise business volume and developing industry specific solutions are Infosys' key deliverables in the deal, said the Bengaluru-headquartered IT behemoth.
Backing Parekh, the chairman of the IT bellwether said that he would give full credit to the CEO for the company's growth.
From H1-B visa to Infosys' whistleblower case, here are the top news stories that made headlines today
Earlier this week, Infosys had said it is yet to receive any evidence to corroborate anonymous whistleblowers' complaints.
Anonymous whistle-blowers last month alleged that Chief Executive Officer Salil Parekh used 'unethical practices' to boost revenue and profit in recent quarters
Unlike other firms the world over, the $11-billion Infosys gives its non-performing techies sufficient time to shape up before being asked to go.
An executive director in the board, Rao, in an interaction with Bibhu Ranjan Mishra and Debasis Mohapatra, says the IT services firm is in a much better position today
In October, an anonymous whistleblower group called 'Ethical Employees' alleged that the company's current management was taking 'unethical' steps to spur short-term revenue and profits.
Infosys says the anonymous complaints were still under investigation as company's stocks rise.
According to the IT firm, the engineering services segment spreads across communication, manufacturing, retail & CPG and life sciences verticals
The companies have also invested heavily in digital marketing and improving consumer experience.
Here's a selection of Business Standard opinion pieces for the day
While Murthy was relentless in his criticism of the erstwhile company board and its CEO for not disclosing information to shareholders, his silence this time has been deafening
The letter was made public last Monday, after which Infosys' stock price was badly hit, though it has recovered a bit in the last trading session
Tax cut helps, but India Inc's revenue growth falters
Employees are mostly worried about what impact this could have on their incentive structures or promotions
Queries sent to the SEC with regard to cooperation sought from Sebi remain unanswered
In April this year, the board of Infosys adopted a new stock plan called "Expanded Stock Ownership Programme"
Infosys said it complied with its whistle-blower policy through placing the complaint before the audit committee of its board
Parekh took solace in a couple of things in his new job