Wipro wins $1.5 bn multi-year deal from US firm
Bengaluru, Sep 2 : Global software major Wipro on Sunday said it had won a $1.5 billion (10,500 crore) 10-year deal from the US-based technology firm, Alight Solutions LLC.
"We have won a 10-year engagement to provide a suite of solutions and services to the Illinois-based Alight Solutions, a leader in technology-enabled health, wealth, human resources and finance solutions," said the city-based IT major in a statement here.
Claiming the deal to be its largest win so far, the company said it would generate $1.5-1.6-billion revenues over the tenure.
"We were chosen by Alight as its long-term strategic partner in its enterprise transformation journey to bring digital experiences and offerings to employees and employers globally," said Wipro Chief Executive Abidali Z. Neemuchwala in the statement on the occasion.
The deal will enable the digital transformation of Alight's offerings across health, wealth, HR and finance solutions and enhance the employee experience of its clients by leveraging Wipro's industry-leading strengths in digital technologies, cognitive automation and data analytics.
"Our industry-leading partnership with Wipro will enhance our client experience by drawing on its leading position in automation and innovation, while allowing us to invest in health, wealth and cloud-based solutions to meet the needs of our clients," said Alight Chief Executive Chris Michalak.
The deal is also a testimony to the capabilities Wipro built through its strategic investments in digital, cloud platforms and cognitive platform.
"We will leverage this expertise to digitalise and modernise Alight's core across platforms, technologies and operations," added the company.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
RBI keeps policy rate unchanged amid inflationary pressure
Mumbai (PTI): The Reserve Bank on Wednesday expectedly kept interest rates unchanged amid hopes of a global recovery on the back of ceasefire in the six-week-long US/Israel-Iran conflict.
The policy decision comes as a month and a-half-long West Asia conflict has disrupted energy supplies, shot up crude oil prices and created fiscal and inflationary pressures for import-dependent nations like India.
This is the first monetary policy review after the government announced a fresh inflation target for the RBI last month. The government has asked the RBI to maintain retail inflation at 4 per cent with a margin of 2 per cent on either side for another five years ending March 2031.
Announcing the first bi-monthly monetary policy for the current fiscal, RBI Governor Sanjay Malhotra said the Monetary Policy Committee (MPC) has unanimously decided to retain short-term lending rate or repo rate at 5.25 per cent with a neutral stance.
The rate cut pause comes on the back of the consumer price index (CPI) based headline retail inflation that moved closer to the RBI's medium-term target of 4 per cent at 3.21 per cent in February.
Additionally, the rupee has depreciated by over 4 per cent since the war, which has consequences for pushing up import inflation.
However, the rupee has appreciated by 50 paise to 92.56 against US dollar following announcement of the ceasefire by the US and Iran.
Based on the recommendation of the MPC, the RBI reduced the repo rate by 25 bps each in February, April, and December 2025 and 50 basis points in June amidst easing retail inflation.
India's retail inflation dropped to a historic low of 0.25 per cent in October 2025, marking the lowest level since the Consumer Price Index (CPI) series was introduced.
However, the rupee declined to historic low and crossed 95 against a dollar last month making imports costlier, raising fears of rise in inflation. Rupee touched a record low of 95.21 on March 30, 2026.
