Current Affairs - Business - Discussion

IT services major Wipro Limited has bagged a strategic contract valued at $300 million from the ICICI Bank. Under the contract, Wipro will offer a comprehensive suite of services to ICICI Bank for the next seven years, starting September 2019. Currently, Mumbai-based IT services firm Vara infotech provides these services to the ICICI Bank. As part of this strategic engagement, Wipro will absorb about 3,800 employees of Vara infotech along with its existing contracts, facilities and assets.