Business
PwC graduate roles under threat from AI, accountancy firm boss says
Nick MarshBusiness reporter, Singapore
Getty ImagesThe growth of artificial intelligence (AI) may eventually lead to fewer entry-level graduates being hired, the boss of accountancy giant PwC has told the BBC.
However, global chairman Mohamed Kande said AI was not behind recent job cuts at the firm, adding that the company actually needed to hire hundreds of new AI engineers but was struggling to find them.
But some observers say the technology itself threatens thousands of junior jobs across the professional services industry.
Speaking on the sidelines of a business summit in Singapore, Mr Kande also said big changes in the global economy, such as US President Donald Trump’s sweeping tariffs, had been good for the firm’s consulting business.
He also addressed the company’s suspension in China last year over its work on the collapsed property giant Evergrande, promising that the same mistakes “would not happen again”.
Headquartered in London, PwC is one of the Big Four accountancy firms. It provides a range of services, such as financial auditing, consulting and tax advice for business clients around the world.
According to Mr Kande, advising them on how to integrate AI into their operations will be at the heart of the firm’s future business strategy, even as the rapidly advancing technology affects its own hiring plans.
Firms who would have previously hired PwC consultants to sift through data and documents may now use AI models instead, turning weeks of costly work into mere minutes.
Every year, the company hires thousands of new graduates in entry-level positions – including 1,300 in the UK and 3,200 in the US last year – but it recently dropped long-term plans to continue increasing its headcount.
In 2021, PwC said it wanted to hire 100,000 people over the course of five years – but Mr Kande said this would no longer be possible.
“When we made the plans to hire that many people, the world looked very, very different,” he said.
“Now we have artificial intelligence. We want to hire, but I don’t know if it’s going to be the same level of people that we hire – it will be a different set of people.”
Last year, PwC cut more than 5,600 roles across its worldwide operation.
The boss of the company’s UK business has previously spoken about reducing graduate recruitment, admitting that AI was “certainly reshaping roles”.
At a global level, however, Mr Kande insisted that the AI boom was an “exciting time” for creating new jobs.
“We are looking for hundreds and hundreds of engineers today to help us drive our AI agenda, but we just cannot find them,” he said.
Trade turmoil ‘good for us’
Businesses around the world may be facing challenges adapting to AI, but in the meantime PwC appears to have benefited from the broader uncertainty in the global economy, largely fuelled by President Trump’s extensive use of tariffs.
“We are receiving a lot of calls from many companies around the world asking how to navigate the current environment,” said Mr Kande.
“It’s been good for us. We need to remain relevant to our clients and we have to be in these discussions, which we are.”
However, the company took a huge reputational blow last year, when Chinese authorities suspended PwC for six months over its work on the collapsed property giant Evergrande.
The firm went bust after amassing debts of more than $300bn (£230bn) and has been at the centre of a ruinous housing crisis that continues to damage lives and livelihoods in China.
The country’s Securities Regulatory Commission found that PwC, as the auditor, had “covered up and even condoned” financial fraud at Evergrande.
Mr Kande, whose tenure as global chairman began after Evergrande went bankrupt, said PwC no longer faced any restrictions in China.
“Let me tell you – we changed many of our people, implemented new quality management systems and introduced new governance systems,” he said.
“My focus has been to make sure nothing like this ever happens again.”
New Delhi: Since the post-COVID period, Indian Railways has made onboard meals optional for passengers on premium trains. While booking tickets online, passengers can now choose whether they want meals during the journey or prefer to skip them. At present, meal charges are included in the ticket fare for three major trains – Rajdhani Express, Shatabdi Express and Vande Bharat Express.
When booking on these trains, passengers must indicate their preference for onboard meals. But even if someone initially declines meals, Indian Railway Catering and Tourism Corporation (IRCTC) allows them to order food later during the journey if they change their mind. Meal charges are adjusted accordingly: added to the fare if selected or deducted if declined.
A frequent point of confusion among travellers relates to the complimentary one-litre Rail Neer water bottle. Many wonder whether skipping meals also means losing the free water bottle that comes with Rajdhani and other premium train journeys. Passengers often ask if the water bottle is tied to the meal option or if it is provided independently.
Free Rail Neer water bottle is provided to all passengers, irrespective of whether they opt for meals. “The complimentary water bottle is available to everyone once onboard, regardless of meal preference,” an IRCTC official told The Indian Express.
Last month, rumours spread suggesting that the Indian Railways had removed the ‘No Meals’ option on premium trains, after some passengers noticed the IRCTC app and website prompting mandatory meal selection during ticket booking.
However, the railways clarified that the ‘No Food’ option has not been removed. It remains available during booking, though the placement on the page has been slightly adjusted. Passengers can still opt out of meals.
Skipping meals no longer affects access to the complimentary water bottle, and flexibility to order food later ensures passengers can tailor their journey according to personal preference.
Business
RBI Rule Alert: All Bank URLs To Now End With ‘Bank.In’ — Video Details New Scam, Know How To Protect Your Money
Last Updated:
The video explains how customers can verify authentic bank portals and avoid falling victim to fraudsters’ traps.
The .bank.in domain is restricted to RBI-registered banks. (Image: File Pic)
As more people turn to online banking, scammers are finding new ways to target unsuspecting users. Many individuals fall prey to links and messages that appear completely legitimate, making it increasingly difficult to distinguish between what is genuine and what poses a threat.
Recently, a video has been gaining attention online, highlighting an important update about banking websites. It explains how customers can verify authentic bank portals and avoid falling victim to fraudsters’ traps. The video also underscores a new initiative by the Reserve Bank of India (RBI) aimed at enhancing online banking security.
Important Update On Bank Website Domains
The clip begins with, “There is a recent update from RBI which you all must be aware of.” The speaker mentions banks like HDFC, SBI, ICICI and Kotak Mahindra and pointed out a major change in website addresses.
“If you are user of any of these banks, then you should know that all the bank websites have now moved to a new called ‘.bank.in.’ This means if you’re a user of HDFC, the new banking website will be HDFC.bank.in, and similarly with other banks like ICICI.bank.in,” he said.
He adds that any URLs ending with .com, .in, .net, or any domain other than .bank.in should be considered suspicious. Users are advised not to click on these links or share their banking credentials there.
Email Security
The video also focuses on emails: “All the banking emails you receive should come from the same domain – @yourbankname.bank.in.” Previously, websites like HDFCsecure.com or ICICIlogin.net were used by scammers to trick users. The .bank.in domain is restricted to RBI-registered banks only which reduces the chance of fraud.
Warnings About Possible Scams
The man further cautions viewers about how scams can spiral around this new change, saying, “You will soon receive in this coming one or two days a lot of SMS saying you need to update your bank details, click on this link immediately. Understand that it is a scam.”
The caption shared along with the post reads, “Beware of new scam.”
Watch The Clip Here
Viewers Call Video ‘A Must-Watch’
The video has drawn attention online, where viewers considered the information valuable and worth sharing.
One user commented, “This is good information and everyone must know this.”
Another called it “Important,” while someone else wrote, “take a note.”
“Must watch post,” read another comment.
RBI’s Role In Enhancing Security
RBI had instructed all banks, payment operators and financial institutions to transition their net banking portals to the .bank.in domain by October 31, 2025. With this deadline now passed, nearly all banks have updated their websites simultaneously.
Although the change may seem sudden to some users, it is part of a broader RBI initiative aimed at protecting customers from scams and phishing attacks.
A team of writers at News18.com bring you stories on what’s creating the buzz on the Internet while exploring science, cricket, tech, gender, Bollywood, and culture.
A team of writers at News18.com bring you stories on what’s creating the buzz on the Internet while exploring science, cricket, tech, gender, Bollywood, and culture.
Delhi, India, India
November 21, 2025, 08:04 IST
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Kotak Mahindra Bank board to consider equity share split on November 21, 2025.
Kotak Mahindra Bank to consider stock split proposal.
Kotak Mahindra Bank Share Price: Kotak Mahindra Bank shares are in focus today, November 21, ahead of the board meeting by private lender to consider a proposal to split its equity shares. In a regulatory filing, the bank said the board will evaluate a plan to sub-divide its existing fully paid-up shares with a face value of Rs 5 each.
A stock split is when a company divides its existing shares into smaller units by reducing the face value of each share. For example, in a 1:5 split, the face value may drop from Rs 5 to Rs 1, and one share becomes five shares. The market price also adjusts in the same ratio, so the total value of your investment doesn’t change. Companies usually do a stock split to make the share price look more affordable and increase trading activity.
“We wish to inform you pursuant to the provisions of Regulation 29(1) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 that a meeting of the Board of Directors of the Bank would be held on Friday, November 21, 2025 to, inter alia, consider a proposal for sub-division (split) of the existing equity shares of the Bank having face value of Rs. 5/- each, fully paid-up, in such manner as may be determined by the Board of Directors,” Kotak Mahindra Bank said in the filing.
The bank recently posted a Q2 net profit of Rs 3,253 crore, which was mostly in line with expectations. Pre-provisioning operating profit came in stronger than expected, and net interest income grew 4% year-on-year to Rs 7,311 crore. Asset quality also improved, with credit costs easing as the unsecured loan book stabilised, according to Axis Securities.
Even though the stock has gained about 16% so far this year, most analysts are still neutral. Nomura kept its hold rating with a target of Rs 2,200 and slightly raised its FY26–28 EPS estimates by 1–2%, helped by lower operating costs and softer credit costs. Margins, however, dipped by 11 bps in Q2 due to the June repo rate cut and a tilt toward retail loans. Axis Securities believes margins may have bottomed out and could improve in the second half.
Nuvama has a target of Rs 2,082 and pointed out that margin and slippage trends have underperformed peers for the last two quarters.
Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
November 21, 2025, 07:08 IST
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