The package includes raising of Rs 15,000 crore sovereign bonds to meet the immediate capital requirement of both the companies, 4G spectrum allocation worth Rs 20,140 crore, Rs 29,937 crore for VRS covering 50 per cent of their employees, and Rs 3,674 crore for goods and services tax that will be levied on allocation of radiowaves.
'BSNL employee cost is Rs 14,500 crore and we anticipate that around 80,000 should opt for VRS.'
The ISRO spy case is dead. And yet, not dead.
Tata Group-owned Air India on Wednesday announced the launch of new flights connecting Mumbai with New York, Paris and Frankfurt, starting February next year. Besides, the full-service carrier also announced the resumption of non-stop flights connecting Delhi with Copenhagen, Milan and Vienna. The Mumbai-New York (JFK International Airport) daily service will commence from February 14 next year, Air India said.
Pandey, who stepped down as the state police chief less than a week ago, however, insisted that he had walked down to the state headquarters of the Janata Dal-United, headed by the chief minister, to "thank" Kumar for the trust reposed in him by the latter.
The asset monetisation exercise in the first phase will help BSNL shave off its Rs 14,000-crore debt. The government has said that these firms are strategically important and will not be closed down or divested.
"The Corporation has decided to offer a voluntary retirement scheme, with a view to enable employees who are not in a position to continue in service of the Corporation due to various personal reasons, to request for grant of voluntary retirement from the services of the Corporation," Bharat Petroleum Corp Ltd (BPCL) said in an internal notice to its employees.
City-based irrigation department whistle blower Vijay Pandhare, who blew the lid off alleged irregularities in various projects across Maharashtra, has sought voluntary retirement from service.
Monetising real estate assets is part of the overall relief package that would be used to retire debts, upgrade networks, and offer VRS aimed at reducing the telcos' employee strength by half.
Around 625 workers have been fasting since Monday; no disruption of production at the plant
If the government is asking a maximum price for Air India but asks to keep old personnel, it will not match.
The top court reserved its verdict on a batch of pleas seeking a collegium-like system for the appointment of ECs and the Chief Election Commissioner and asked the parties to file written submission in five days.
Gopalakrishna's name was in the reckoning for Deputy Governor in place of Anand Sinha who retired in January.
The fourth day of questioning was deferred from June 17 to this day after Gandhi requested the agency for postponing the session as he wanted to be with his mother and Congress president Sonia Gandhi in hospital, where she is admitted for post-Covid issues.
The Maruti Udyog Ltd board has approved a proposal to introduce a voluntary retirement scheme for employees of the company.
Alkyl Amines Chemicals Ltd announced voluntary retirement scheme to employees at Patalganga plant and Vashi and Worli offices.
In 2015, the auto major had announced that it would cease production at the plant, a move that affected around 1,100 employees.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Just a few weeks ago, Communications Minister Ashwini Vaishnaw did some tough talking with the senior managers of Bharat Sanchar Nigam Ltd, the ailing state-owned telecom service provider. The message was clear: They had to perform, quit by taking the voluntary retirement package or be compulsorily retired from service. The terse message from an otherwise polite and soft-spoken minister came just days after he announced a second and bigger package of Rs 1.64 trillion as part of a four-year turnaround plan for BSNL.
Indian Oil Corporation on Friday said it has launched a voluntary retirement scheme - for its surplus employees - that is valid till December 31, 2003.
Congress leader Rahul Gandhi appeared before the Enforcement Directorate (ED) on Wednesday for the third consecutive day of questioning in the National Herald money laundering case, with the agency seeking answers on decisions taken with regard to the media organisation and its owner Young Indian.
'The announcement has come too late. This should have been done years ago.'
The move will require a one-time payment of Rs 4,000-5,000 crore (Rs 40-50 billion), for which DoT would give financial support, a senior official from the latter told Business Standard.
Rashtriya Janata Dal president Lalu Prasad's 'samdhi' Chandrika Roy has been nominated by the Janata Dal- United from his traditional Parsa assembly seat, but name of the former Director General of Police Gupteshwar Pandey is missing from the list of 115 candidates released by the party on Wednesday.
Within two weeks of offering voluntary retirement to 612 officers, state owned MTNL on Tuesday signed up another 1300 Group 'C' and 'D' employees for separation.
The Supreme Court on Wednesday asked the Centre to produce before it the file related to the appointment of Election Commissioner Arun Goel, who was appointed on November 19.
Employees allege forcible layoffs; firm says ensuring it "best maximises performance and optimises resources"
When the Tatas re-boarded Air India on January 27 last year, the price of aviation turbine fuel was at over Rs 80,000 per kilolitre. Rupee was trading at around Rs 74 to a US dollar. The Omicron variant of Covid-19 was in prevalence - barely a week earlier, India had reported over 340,000 cases on a single day. Seven-day home quarantine of international travellers was the norm.
Employees of the State Trading Corporation will be given the right to seek voluntary retirement conditional on the privatisation of the company under a 'one of a kind' proposal accepted by divestment ministry.\n\n\n\n
While Bhasin will be getting provident fund money and gratuity, he would not be getting leave encashment for 420 days, medical reimbursement for himself and wife, free passes for himself and wife, and holiday home facilities.
