Somesh Jha &Amp; Abhijit Lele

Stories by Somesh Jha &Amp; Abhijit Lele

Are wages growing at faster rate than job creation?

Are wages growing at faster rate than job creation?

Rediff.com   4 May 2018

T C A Anant, former chief statistician to the government, will soon be heading a panel to decide whether the monthly payroll data released by EPFO, ESIC and PFRDA could replace the quarterly enterprises-based survey on job creation by the labour bureau, the prime minister's office decided last week.

EPFO dumps CSC Aadhaar services after data theft

EPFO dumps CSC Aadhaar services after data theft

Rediff.com   3 May 2018

Unique Identification Authority of India said the alleged data breach took place on a website that does not belong to it.

Govt planning monthly payroll data in place of quarterly job surveys

Govt planning monthly payroll data in place of quarterly job surveys

Rediff.com   29 Apr 2018

The Prime Minister's Office has decided to set up a panel, led by former chief statistician T C A Anant, to deliberate on whether the enterprise-level quarterly data, which is released by the labour bureau, should be discontinued.

6.22 million additional jobs were created in 2017-18

6.22 million additional jobs were created in 2017-18

Rediff.com   26 Apr 2018

The payroll estimates, released by the EPFO based on its enrolment, threw up some contrasting trend between September 2017 and February 2018.

90,000 ATMs across India will soon dispense Rs 200 notes

90,000 ATMs across India will soon dispense Rs 200 notes

Rediff.com   24 Apr 2018

About 200,000 ATMs can dispense the new series of Rs 500 notes

Labour reforms move a step ahead; outsiders can now become TU leaders

Labour reforms move a step ahead; outsiders can now become TU leaders

Rediff.com   24 Apr 2018

The Centre has, however, retained its proposal to curb flash strikes as workers in all factories will be required to give employers a strike notice of at least two weeks after the Bill becomes a law.

States with dry ATMs received highest share of currency notes in 2017-18

States with dry ATMs received highest share of currency notes in 2017-18

Rediff.com   20 Apr 2018

An RBI official said the supply of currency was adequate in the states facing a crunch at ATMs but the logistic issues led to the present situation

Cash crunch: Suspected hoarding of Rs 2,000 notes to be probed

Cash crunch: Suspected hoarding of Rs 2,000 notes to be probed

Rediff.com   19 Apr 2018

The rate of cash withdrawals over deposits was almost double in Uttar Pradesh, Andhra Pradesh and Telangana, according to the latest analysis submitted by the RBI to the finance ministry.

RBI unlikely to heed banks' plea to amend NPA norms

RBI unlikely to heed banks' plea to amend NPA norms

Rediff.com   14 Apr 2018

RBI deputy governor N S Vishwanathan has said the new framework was in line with the Insolvency and Bankruptcy Code guidelines.

Allegations against ICICI bank may dent investor confidence

Allegations against ICICI bank may dent investor confidence

Rediff.com   11 Apr 2018

ICICI's board has denied any wrongdoing, highlighting that the loan was underwritten in accordance with the bank's credit standards and was extended as part of a consortium involving over 20 banks.

Canara Bank to shut three overseas branches

Canara Bank to shut three overseas branches

Rediff.com   9 Apr 2018

And will sell its 50 per cent stake to State Bank of India in Russia as part of rationalisation of overseas branch network.

RBI wants customers' financial data stored in India

RBI wants customers' financial data stored in India

Rediff.com   7 Apr 2018

Experts say the new guideline is likely to hurt foreign players more, especially card companies such as Visa, MasterCard and American Express who process and store credit card transaction data outside of India.

RBI tells finmin that PNB misled it on SWIFT migration

RBI tells finmin that PNB misled it on SWIFT migration

Rediff.com   5 Apr 2018

'PNB had confirmed compliance with the RBI's prescription in its circular of August 3, 2016, which has now turned out to be factually incorrect,' Minister of State for Finance Shiv Pratap Shukla said in Rajya Sabha on Tuesday.

Compulsory annual health checks proposed for workers

Compulsory annual health checks proposed for workers

Rediff.com   4 Apr 2018

This will help employers keep a track of the diseases workers could suffer from while doing their jobs.

ICICI Bank board says it has full faith in Chanda Kochhar

ICICI Bank board says it has full faith in Chanda Kochhar

Rediff.com   29 Mar 2018

IBoard defends MD on nepotism charges, quashes allegations; it also reviewed its internal processes and exposure to the Videocon group

PNB may be allowed to spread fraud losses over 4 quarters

PNB may be allowed to spread fraud losses over 4 quarters

Rediff.com   28 Mar 2018

With the entire fraud amount becoming a non-performing asset, around 25 per cent of the bank's estimated net worth of Rs 40,000 crore could be affected.

Honoured all LoUs during 2011-16: PNB to FinMin

Honoured all LoUs during 2011-16: PNB to FinMin

Rediff.com   22 Mar 2018

The bank also issued 234 LoUs worth Rs 1,880 crore to another group of companies promoted by Mehul Choksi in 2015 and 2016

PNB fraud hits banks' loan disbursal to India Inc

PNB fraud hits banks' loan disbursal to India Inc

Rediff.com   14 Mar 2018

With the management of most State-owned banks hardly having time to concentrate on big-ticket business, growing the business of loan disbursals has been pushed down the priority order.

The bank has the power of 5Cs: PNB chief

The bank has the power of 5Cs: PNB chief

Rediff.com   13 Mar 2018

The bank has one of the highest current account savings account share, stable credit quality, robust credit growth, adequate capital and low cost-to-income ratio, said PNB chief Sunil Mehta.

PNB to provide for Rs 60 bn loss this quarter for NiMo scam

PNB to provide for Rs 60 bn loss this quarter for NiMo scam

Rediff.com   12 Mar 2018

"Our preliminary estimates show we may have to provide for around Rs 60 billion in the balance sheet for the quarter ending on March. The due date for LoUs amounting to Rs 60 billion is falling in the present quarter. This will be a contingent liability for the bank," said a senior executive, on condition of anonymity.