The Supreme Court on Thursday directed Jalan-Kalrock consortium, the new owners of the cash-strapped Jet Airways, to deposit Rs 150 crore in SBI's escrow account by January 31, saying failure to do so will mean that the consortium is not in compliance with the terms of the resolution plan for reviving the airline. The top court, meanwhile, also refused to allow the separate plea of the Jet Aircraft Maintenance Engineers Welfare Association seeking payment of provident fund and gratuity dues, observing if additional money is awarded, the resolution plan will become "unworkable". The consortium, as per the lawyers for the workmen, has to pay over Rs 200 crore towards dues on account of PF and gratuity.
74 of these fatalities were reported by 8 companies: Coal India (21), L&T (14), Vedanta (13, of which Hindustan Zinc reported 7), Tata Steel (7), Power Grid Corporation of India (7), JSW Steel (6), and ONGC (6).
24 hours before campaigning ends in Thiruvanathapuram, Archana Masih/Rediff.com discovers Shashi Tharoor and his BJP rival Rajeev Chandrasekhar are busy getting their message across to voters.
Every employee on an average contributed Rs 650,000 to the bank's profit in the last fiscal.
Work-related stress can impact one's mental health. Which is why Saurabh Tiwari says he's fortunate that his company understands this and is doing whatever it can to help mitigate that stress. "My company provides opportunities according to my interest, and if anyone is feeling stressed or has additional workload, they can talk with their supervisor to resolve it," says the 31-year-old who's working from home for a Bengaluru-based IT firm. Not everyone's as lucky.
All the 27 public sector banks together have market share of about 70 per cent.
'Tax is not required to be deducted from specified payments if a recipient files a self-declaration with the deductor for no deduction of tax.'
The Ministry of Home Affairs on Monday said the Missionaries of Charity's application for renewal of the Foreign Contribution (Regulation) Act (FCRA) registration was refused on December 25 for not meeting eligibility conditions as some adverse inputs were received.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
For the remaining projects, it is difficult to arrive at an estimate.
"We will not let this company go down and will not tolerate this casual talk to dismantle this company piece by piece and give it as doles to airlines of your choice," an open letter said.
RBI wants periodic revision of the pensions for its retired employees.
The talk of governance reforms at public-sector banks seems to remain on paper, as a majority of them continue to be working with just a handful board members. Half of the board seat at these banks have been vacant. Ten of the 12 public-sector banks, even large ones like Punjab National Bank, Canara Bank and Union Bank of India - all except State Bank of India (SBI) and Bank of Baroda - don't even have a chairman. In 2014, while splitting the post of chairman & managing director (CMD), the government had decided to appoint non-executive chairmen at these banks. SBI, which has an executive chairman and four managing directors, was an exception.
It is to keep labour unions away and make the employees feel important.
Public sector banks are inefficient, poorly governed and beset by largescale corruption.
In yet another move to close the regulatory gap between banks and shadow banks, the Reserve Bank of India (RBI) has mandated exposure limits to the non-banking finance companies, in line with commercial banks. In the large exposure framework released on Tuesday, the regulator capped aggregrate exposure of NBFCs which are in the upper layer toward one entity at 20 per cent of capital base. The limit can only be extended by another 5% with board's approval. For a particular borrower group, the cap is at 25 per cent, with additional 10 per cent if exposure is towards infrastructure.
'How can you ask the common man alone to suffer when the rich is not doing any sacrifice?' 'To take out 10% of black money, you are punishing 90% of the public who have genuine white money.'
Though NCLT has extended window to find a buyer, bankers don't see much hope of a deal.
Taxpayers are filing their income tax returns (ITRs) early for the Assessment Year 2024-25 (FY25). By April 29, over 592,000 returns were filed, with over 538,000 verified and 367,000 processed. Early filing allows revisions without penalties.
According to reports, public transport and banking services remain partly disrupted for the second day in some states.
'We feel there is definitely something murky in the system.' 'Will anyone believe that Nirav Modi will go to a branch and bribe a low-level officer?' 'Just look at the people with whom he had moved around.'
Missing the deadline for filing Income Tax returns can lead to consequences.
'...Rs 137 lakh crores of people's money?' 'It is not the government's money, it is people's money.'
Ratnakar Bank to absorb RBS' employees involved in three businesses
The Code on Social Security, 2020 gives a lot of comfort to gig firms which recognise cab drivers or food delivery executives as 'independent contractors' who directly do business with customers with the help of their digitised platforms.
While boards of both the banks had approved the merger plan, bank employees went on one-day strike protesting the move.
The Marathi poem, Gandhi Mala Bhetala (Gandhi met me), is a satirical critique of those who falsely claim to follow the path of Mahatma Gandhi
In a dramatic turn of events in May 2019, an Emirates aircraft en-route to Dubai was asked to stop while it was taxiing for a take off in Mumbai. The pilot was given no reason and ordered to immediately return to the parking bay. As the aircraft returned to the terminal, two passengers from the first class - Naresh Goyal and his wife Anita - were offloaded by the immigration authorities, who said the duo cannot leave the country. Goyal, founder of Jet Airways, was stunned. The man, who ruled the aviation sector for two and a half decades with an iron hand, did not expect to be offloaded in this fashion.
All India Jet Airways' Officers and Staff Association on Thursday said it has filed an appeal before the NCLAT against Jalan-Kalrock consortium's resolution plan for the airline. In October 2020, the airline's Committee of Creditors (CoC) approved the resolution plan submitted by the consortium of the UK's Kalrock Capital and the UAE-based entrepreneur Murari Lal Jalan. The plan was later cleared by the Mumbai bench of the National Company Law Tribunal (NCLT).
The interest offered is mostly 0.5 to 1 per cent more than what other banks offer. Moreover, customer service and long-term association spanning generations are also other reasons for the popularity.
Ten trade unions with a combined membership of 15 crore workers in public and private sector, including banks and insurance companies, are on a nationwide strike to protest against changes in the labour laws.
The unions also suggested banks can extend special and exclusive loans to the airline to pay the salary dues or some subsistence payments to them against proper collateral.
The AISBOF wants bank employees' wage revision in parity with that of the Indian Administrative Services officers. Last month, the IBA had given an initial offer of 10 per cent wage hike, or a package which would cost the industry Rs 2,750 crore (Rs 27.5 billion), against Rs 2,220 crore (Rs 22.2 billion) in the eighth bipartite meeting between bank unions and IBA.
What connects P S Jayakumar of Bank of Baroda, V Vaidyanathan of Capital First Ltd and Chandra Shekhar Ghosh of Bandhan?
If you want to apply for a job at State Bank of India (SBI), any default on loans or credit card payment will render your ineligible.
In an online chat with readers, Anil Nagar, Director, Bank Power Institute, Delhi addressed queries on how to prepare for the exam.
Two thermal power stations at Vijayawada and Kadapa went into steam on Friday as power employees in coastal Andhra and Rayalaseema regions of Andhra Pradesh resumed work after calling off their indefinite strike "temporarily" in view of cyclonic storm Phailan.
Banks and staff unions had settled on a 17.5 per cent salary hike, to benefit about 702,000 public sector employees, besides agreeing to make 332,000 serving and retired employees eligible for pension.
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