'India's top companies currently lack the organisational wherewithal to hire and train 2 million interns annually, given their current scale of operations and existing employee base.'
Banks, including country's largest lender State Bank of India, have informed the customers well in advance about the likely inconvenience due to strike.
Review your family emergency fund and replenish it if needed. Revisit financial goals to see if there is any change in timeline or the corpus required.
IndusInd International Holdings chairman Ashok Hinduja on Tuesday announced the acquisition of Reliance Capital, completing the three-year-long resolution process of the debt-ridden company. IndusInd International Holdings Ltd (IIHL) has transferred the bid amount to the escrow account of the lender, and the takeover of the management from the Administrator will happen on Wednesday.
So how is it going to affect the common citizen?
As a result of the strike, cheques amounting to Rs 3000 crore (Rs 30 billion) were pending clearance. Inter-bank transaction through RTGS was also brought to a halt, the statement said.
United Forum of Bank Unions, apex union of bank employees, claimed that over 10 lakh employees and officers are observing strike to press their demands.
Strike is total, impacts all branches of PSU and private banks. Clearing operation at RBI also hit.
'The Insolvency and Bankruptcy Code is neither beneficial to banks nor helpful for the borrower.' 'Genuine people who are caught in economic stagnation will lose everything and thousands will lose jobs.'
At a time when the asset quality of state-owned banks is deteriorating, the Reserve Bank of India is also planning harsher penalties for wealthy promoters of wilful defaulters.
There were instances of 'rasta roko' at various places in rural Maharashtra
A section of the public sector banking employees will go on two-day all-India strike from Wednesday to protest against financial sector reforms and outsourcing of jobs.
After Chennai, it is Coimbatore, Madurai, and Tiruchirappalli, that are emerging as manufacturing hubs. Coimbatore is India's top Tier-II city in terms of the number of GCCs, according to a report by Cushman & Wakefield.
Fintech firm One97 Communications, owner of Paytm brand, is laying off an undisclosed number of employees and claimed that it is providing outplacement support for their smooth transition, according to a company statement. Paytm's sales employee headcount in March 2024 quarter dropped by about 3,500 to 36,521 personnel on a quarter-on-quarter basis, mainly due the impact of the Reserve Bank of India's ban on services of Paytm Payments Bank.
The United Forum of Bank Unions would be holding a one-day all-India strike on January 7 followed by a four-day strike from January 21-24.
Individual banks should break away from the industry pact and have their own settlements with the unions, recommends Tamal Bandyopadhyay.
'What the RBI is doing is trying to catch the mouse when they have to catch the tiger.'
SBI unions walk out of pact saying interests not served
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The number of frauds in the banking sector increased over four times in the past five years to 36,075.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
While the BJP received the highest amount, securing Rs 1,685.63 crore, the Congress received Rs 828.36 crore, and the Aam Aadmi Party (AAP) Rs 10.15 crore.
The Central Bureau of Investigation has started a preliminary enquiry looking into the Rs 950 crore (Rs 9.5 billion) alleged bad loan given by IDBI Bank to Kingfisher Airlines ignoring the company's negative credit ratings and net worth.
Choose insurance from stable companies that have been in the business for a long time
The current wage revision for PSBs, as well as some private lenders, is due from November 2017 for five years - up to October 2022.
Banks Board Bureau chief Vinod Rai has proposed performance-linked incentives for bank employees, but the staff unions are dead against the idea.
"When it comes to the Canadian matter, we have made clear that the allegations are extremely serious and they need to be taken seriously. We wanted to see the government of India cooperate with Canada in its investigation. Obviously, they have not chosen that path," State Department spokesperson Matthew Miller told reporters at his daily news conference.
By June 2025, financial freedom will be just an ATM away. Pleasantly surprised? But there's more, says Ramalingam Kalirajan
'Some part could be used for consumption purposes, and the rest could be used to meet important financial goals.' 'The split can be 30:70 to 50:50, depending on one's situation.'
Stalin, along with cadres of the DMK and other parties, came in a procession in Tiruvarur and was detained in a marriage hall, police said, adding they will be let off later.
'An in-house contest encourages employees to share yoga and well-being practices with their families.'
The Reserve Bank on Wednesday came out with revised guidelines for the hiring of lockers under which the liability of banks will be limited to 100 times its annual rent in case of fire, theft, building collapse or frauds by bank employees. As per the revised guidelines, which shall come into effect from January 1, 2022, banks will be required to incorporate a clause in the locker agreement prohibiting the hirer from keeping anything illegal or hazardous in lockers. The RBI said it has reviewed the 'Deposit Locker/Safe Custody Article Facility provided by the banks' after taking into consideration various developments in the area of banking and technology, nature of consumer grievances and also the feedback received from banks and Indian Banks' Association (IBA).
'Let them put their house in order first.' 'Let the RBI first rectify themselves.'
Maharashtra and West Bengal lead the way in bank fraud.
The country's largest lender State Bank of India (SBI) has put in place new rules wherein a woman candidate with more than three months pregnancy will be considered "temporarily unfit" and can join the bank within four months after delivery. The move has elicited criticism from some quarters, including from the All India State Bank Of India Employees' Association. In its latest medical fitness guidelines for new recruits or promotees, the bank said a candidate would be considered fit in case of pregnancy which is less than 3 months.
'One by one we are seeing these private banks taking people's money and mismanaging it.' 'In the last 30 years, 30 private banks have collapsed.' 'Nationalise all banks so that people's money is safe.'
Two associations representing pilots and engineers have written to SBI chairman Rajnish Kumar proposing that they would take over the airline and can bring in up to Rs 7,000 crore.
The Indian Banks Association has suggested certain alternative proposals on pension after meeting the representatives of United Forum of Bank Unions, general secretary of the All India Bank Officers' Association R J Sridharan said.
Fintech firm One97 Communications, which owns Paytm brand, on Friday said its loss has widened to Rs 840 crore in the quarter ended June 30, primarily due to continued impact of restrictions on Paytm Payments Bank Ltd. The company had posted a loss of Rs 358.4 crore in the same period a year ago, according to a regulatory filing by the company. The consolidated revenue of Paytm declined 33.48 per cent to Rs 1,639.1 crore during the reported quarter, from Rs 2,464.2 crore in the same period a year ago.
Severe skilled, unskilled shortage threatens to pull emergency brakes on India's industrial engine.
