Between the lockdown and the corona crisis, this week also saw much big news from the business world. While the government released the GDP growth figures for the March quarter. On the other hand, SBI reduced the interest rate on term deposits for the second time in a month. Meanwhile, Reliance Group's e-commerce portal JioMart has started delivery in 200 cities of the country. In this week, the legendary IT company Wipro has announced the appointment of a new CEO and Managing Director.
The economy has suffered a lot due to the coronavirus outbreak and lockdown in the last quarter of the financial year 2019-20. Even before the fourth quarter, the economy was not in a good position. According to the Ministry of Statistics and Program Implementation, the country's GDP growth is estimated to be 4.2 percent in the financial year 2019-20. The country's GDP growth was 6.1 percent in the financial year 2018-19. According to the ministry, GDP growth in the fourth quarter of FY 2019-20 has been 3.1 percent.
IT service provider Wipro has appointed Capgemini Group veteran Thierry Delaporte as its new Chief Executive Officer and Managing Director. His term will be effective from July 6, 2020. Wipro gave this information on Friday. In January this year, the company had told that its CEO and Managing Director Abidali Z Neemuchwala has decided to leave the company. Abidali Neemuchwala will step down as CEO and MD on 1 June. Wipro said in a statement, Rishad Premji will oversee the daily operations of the company till 5 July.
Ministry of Commerce and Industry indicated 'Shops in malls can open soon'