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Tata Consultancy Services announces new doctorate funding program to drive quality academic research

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Tata Consultancy Services (TCS), (BSE: TCS.BO, NSE: TCS.NS), a leading global IT services, business solutions and outsourcing firm, today announced a new program to encourage quality academic research and thereby increase the available faculty talent pool in India.

The company will fund 200 doctoral candidates over a period of 5 years to take up Phd programs in reputable academic institutions across the country. The “TCS Research Fellows” will pursue original research in various aspects of computer science. Forty doctoral or Phd candidates will be chosen as TCS Research Scholars every year from a number of reputable academic institutes through a process of selection conducted by TCS and the academic institutes.

Announcing the TCS Research Scholar Program on the sidelines of Sangam, TCS’ annual academic conclave, N Chandrasekaran, CEO and MD said: “At a time, when the introduction of new technologies are changing business models rapidly, there is an urgent need for more focused research to stay ahead of the learning curve. The TCS Research Scholars program will help enlarge the R&D agenda and encourage exploration of new ideas by funding candidates in doctorate programs”.

“TCS works with our academic partners through the year to examine ways of deepening our relationship. The TCS Research Scholars Program is a new initiative to take this engagement with academia to the next level, said Ajoy Mukherjee, Head Global HR. “By inducting 200 new Phd scholars into the academic eco-system over a period of five years, this initiative will also significantly enhance the pipeline of high quality faculty for colleges, part from generating new ideas and honing research talent in the country.”

The new program will supplement existing TCS programs like the Academic Interface Program, which is a holistic initiative to enhance the quality of the emerging workforce across the globe by supporting students, faculty, institutes and government. The program engaged with 499 academic institutes in India and over 85 overseas during FY2009, conducting over 130 faculty development programs benefiting over 4,000 instructors and 400 workshops for over 52,000 students globally. Over 1300 students benefited from TCS internships and awards.

Carnation Auto ties up with Punjab National Bank for additional funding of Rs 170 crore

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Carnation Auto today announced its financial closure of Rs.170 Crores with Punjab National Bank for extending the nation-wide rollout of its multi-brand auto solution hubs.

The agreement was signed by Mr. Jagdish Khattar, Chairman and Managing Director, Carnation Auto, and Mr. V. Gujjal, DGM, Large Corporate Branch, New Delhi, Punjab National Bank.

Speaking on the occasion, Mr. Jagdish Khattar, Chairman and Managing Director, Carnation Auto said, “We are extremely pleased to partner with Punjab National Bank to further expand the Carnation network with a funding of Rs 170 crore. Their support will help us to achieve our vision of making Carnation Auto the leading Independent, multi-brand auto solutions hub and provide car owners a one-stop shop for all their auto needs.”

Under the agreement, the flow of funds from Punjab National Bank will be channelized towards the rollout and expansion of Carnation Auto’s hubs across the country and its various business verticals including certified pre-owned cars, preventive maintenance, general repair, body works, workshop on wheels, car customization with Dilip Chabria’s DC Design, insurance, new cars sales, e-business and accessories.

Carnation Auto already has 12 Multi Brand Auto Solutions Hubs operational across India in Amritsar, Chennai(2), Gurgaon, Noida (2), Mumbai (3), Hyderabad (2) and Kochi – and is in the process of growing that to about 30 by end of this fiscal year. Carnation Auto has retained the services of Tata Consultancy Services (TCS), (BSE: TCS.BO, NSE: TCS.NI), a leading IT services, business solutions and outsourcing organization, for implementing SAP (NYSE: SAP) across all their locations. Carnation is also using the services of Genpact (NYSE: G) to outsource their call center, CRM and select business process activities.