Subhash Chandra Garg, the former finance secretary who was shunted out of the finance ministry within three weeks of Modi-2.0 government's first budget last year, on Saturday alleged that new Finance Minister Nirmala Sitharaman got him transferred out.
The company, which has a subscriber base of 120 million, also plans to raise funds via a bonds issue. The company's impending 4G launch is also expected in the second half of the current financial year for which it would invest Rs 12,000 crore, partly through bonds.
The draft scheme, seen by PTI, said it will provide an option and a respectable exit route to employees who have reached a level of saturation in their career, may not be at the peak of their performance, have some personal issue or want to pursue their professional or personal life outside the bank.
Abdur Rahman, posted as special IGP in Mumbai, has sad that he won't attend office from Thursday in protest against 'blatantly communal and unconstitutional' CAB.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
The Union Cabinet on Wednesday approved the dissolution of the Central Inland Water Transport Corporation Limited as part of the government's move to identify and close down "irretrievable" cases.
This strategy was discussed when Union Home Minister Amit Shah recently visited Mysuru to discuss the BJP's Lok Sabha plan, reports Aditi Phadnis.
Once the iconic red-brick building of British India Corporation (BICL), which manufactured the popular "Lal-Imli" brand of woollen products, made Cawnpore (now Kanpur) the Manchester of the East. In the 75th year of independence, the government may finally pull the curtains on the century-old, now defunct public sector enterprise. "The Department of Public Enterprises (DPE) has floated a draft cabinet note for closure of British India Corporation (BICL) along with National Textiles Corporation (NTC). "The Cabinet may soon tak
The government last month had approved a plum Rs 69,000 crore revival package for BSNL and MTNL that includes merging the two loss-making firms, monetising their assets and offering VRS to employees so that the combined entity turns profitable in two years.
The asset manager is yet to resolve the impasse surrounding the payment of pension to its erstwhile employees who had opted for voluntary retirement in 2003.
'The announcement has come too late. This should have been done years ago.'
Successful inroads in new markets could drive Escorts' national share above the current 11 per cent, reports Ajay Modi.
It was a protest which held a mirror to the government of a state taking pride in its commitment to democracy, gender equality and social indices.One person, who in his employed days had known governments and political parties at close quarters, told me that public perception of how the Kerala government handled the ASHA workers' strike had been terrible, reports Shyam G Menon.
She has sought a high-level inquiry into his disappearance as well as the recent rejection of his plea for voluntary retirement.
Union sources claimed production at the Chennai plant, considered one of the biggest for Nokia, had declined from 13 million handsets per month to four million per month.
He will replace Amitabh Kant, who will demit office on June 30. Iyer has been appointed for two years or until further orders, whichever is earlier, the personnel ministry order stated.
The number of cyberfraud cases has skyrocketed from 2,677 in 1999-2000 to 29,082 in FY24 -- more than a 10-fold increase. The RBI pegs digital payment frauds at Rs 1,457 crore in FY24, up more than five times in a year. It's not just the number of frauds. What's alarming is the growing sophistication of the fraudsters, exposing the vulnerabilities within the financial system, observes Tamal Bandyopadhyay.
The VRS notice was pasted on the gates of the company's Uttarpara unit by the management, which said all workers would be paid their statutory dues plus and additional amount of Rs 100,000 each.
NPS is a cost-effective instrument with low fund management and other fees. Unlike in mutual funds, investors get the benefit of tax-free rebalancing here.
The EoI and the share purchase agreement would be issued in January itself for the bidders. While Air India's net loss in 2018-19 was around Rs 8,556 crore, its current total debt is around Rs 80,000 crore.
The move by the BSF has not been seen kindly by Yadav's family which alleged that the trooper was being "threatened and tortured mentally".
HMT Watches has been making losses for the last 15 years.
Nokia shut down has also resulted in the loss of job for over 12,000, who were indirectly employed by the company.
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.
he company said that though Katama has decided to quit, he would play a consulting role for a 'fixed' period.
With a new chief executive officer (CEO) at the helm, the country's largest two-wheeler maker Hero MotoCorp is now looking to cut flab and move towards a leaner organisation. It has launched a voluntary retirement scheme (VRS) for its staff as it aims to make the organisation 'agile and future-ready'. Recently, the company's erstwhile chief financial officer (CFO) Niranjan Gupta was elevated as CEO.
Yadav's family had expressed desire to meet the DG following which the meeting was arranged.
In 2015, the auto major had announced that it would cease production at the plant, a move that affected around 1,100 employees.
The local arm of the Japanese two-wheeler manufacturer accounts for every second scooter sold in India.
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.
The 2000-batch IAS officer, who sparked several controversies and was accused of violating the service rule, had taken voluntary retirement from government service on October 23 this year.
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.
Trouble began at the manufacturing facilities of Foxconn situated at Sriperumbudur near Chennai after it decided to suspend production from December 22, 2014. Fearing job losses the employees have been resorting to agitations since then.
Union Commerce Minister Nirmala Sitharaman said she will pursue the matter with the finance ministry
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The Chennai plant may be excluded from software giant Microsoft's acquisition of Nokia's handset business for 5.4 billion euros due to tax issues.
About 507 employees of Oil and Natural Gas Corp have opted for voluntary retirement under the latest VRS scheme floated by the company, the Rajya Sabha was informed on Tuesday.
The VRS has been mostly offered to cut costs in wake of economic slowdown, the experts said.
'Not even a single rupee from the electoral bonds should be allowed to be used in the election.' 'If it is used in the election, it will taint India's electoral process itself.'
As part of its workforce restructuring at the Kurla manufacturing unit, Fiat India Ltd on Monday said it has accepted the voluntary retirement of more than 50 per cent of its employees at the plant.
Ironically, rival Tamil Nadu governments expend the most on social welfare schemes, especially targeting women and youth and children, but that money comes only by selling more liquor. There is always the specious plea, which has been peddled very many times in the past, that without licensed liquor, drinkers would go after hooch and there could be more hooch tragedies and hooch deaths. No one is convinced, but no one can dispute it either, comments N Sathiya Moorthy.
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