Some global banks, funds and other financial services providers say they are The increased hiring plans of some major players show that they are now willing to live with the political risks. ”Everyone in the business community I have spoken with welcomes the peace and stability now, compared with the chaos of 2019,” said Weijian Shan, chairman, and chief executive of Hong Kong-based private equity group PAG. up hiring in Hong Kong, in a sign the city's unique position as a financial gateway to China is outweighing concerns about Beijing's tightening grip over it. Goldman Sachs Group Inc, Citigroup Inc, UBS AG and other banks are each hiring hundreds of people in the city this year, adding substantially to their existing ranks. Citigroup, for example, has said it is bulking up its staffing by 1,500 people, including additional headcount and replacements in 2021, double the number of people it hired a year ago. It has about 4,000 people in the city. A Goldman spokesman said the bank, which has about 2,000 people in Greater China, expects hiring in Hong Kong to be up 20% this year. The Securities and Futures Commission, Hong Kong's market regulator, is seeing a rebound in licenses it issues for people involved in asset management, securities and other financial activities, according to data on its website. The total number of licenses it issued was up 1.7% at the end of March, compared with nine months earlier, and just shy of an alltime peak in 2019. "Hong Kong has some unique advantages, and it will remain the gateway for many of our local and global clients to access China," said Kaleem Rizvi, Head of Citi's AsiaPacific corporate bank. Many financial companies slowed hiring last year, after protests against Chinese rule and a new security law imposed on the city to crush dissent by Beijing, as well as the coronavirus pandemic, six bankers, recruiters and other industry executives said. The increased hiring plans of some major players show that they are now willing to live with the political risks. "Everyone in the business community I have spoken with welcomes the peace and stability now, compared with the chaos of 2019," said Weijian Shan, chairman and chief executive of Hong Kongbased private equity group PAG. To be sure, politics remains contentious and unsettling for some finance professionals, some bankers have said. Some expatriate financial workers have left or considered leaving Hong Kong, along with thousands of residents of the former British colony.

Bank of India's asset quality showed an improvement with the gross non-performing assets (NPAs) standing at 13.77 percent of the gross advances by the end of March 2021 as against 14.78 percent by the year-ago period.

Pent-up demand and a pick-up in execution aided growth for Cummins India in the March quarter. Ajay Patil, Chief Financial Officer of the company said that he is optimistic about sequential pick-up in supply chain stability.

Sanjay Nayak, MD & CEO of Tejas Networks, while talking about the telecom Production Linked Incentive (PLI) scheme on Friday said that the research and development (R&D) expenditure cap should be raised to 50 percent from 15 percent.