Dissatisfied with the wage hike offer made by Indian Banks' Association (IBA), public sector lenders' employee unions on Monday threatened to go on a two-day strike from February 10.
As the country slowly paces back to normalcy with the declining rate in COVID-19 cases, rapid vaccine drive, and growing economic and employment rate, a survey has revealed that 73 per cent of employees are in favour of the hybrid model of work across industries. Over 73 per cent of the employees interviewed respondents said they are in favour of this new emerging hybrid model across industries, according to a survey by HR solutions provider Genius Consultants. As most organisations across various industries were forced to shift staff operation remotely owing to the pandemic restrictions, most employees opined that this provision should continue even after the situation normalise, it added.
AIBEA is part of United Forum of Bank Unions, the umbrella organisation of employee and officer unions of nine banks, which has given the call for one-day strike on January 7 and four days from January 21 in support of their wage hike demand pending since November 2012.
The eighth Budget of Finance Minister Nirmala Sitharaman continued to focus on 'GYAN' (Garib, Youth, Annadata, Nari) to maintain a consistent and coherent strategy initiated over the years in pursuing the government's vision for Viksit Bharat. The approach, characterised by incremental yet impactful steps, aims to create a compounding effect over time.
All the banks in the country will go on a one-day strike on February 23 to show their solidarity towards employees of the Central Bank who have planned an indefinite strike from February 22.
A surprised Sallet, who was most likely running his own camera and audio at the scene, rolls with the punches.
Most of the buses run by Telangana State Road Transport Organisation are also off the roads
The Tata Group is one of the very few Indian MNCs which has carved out a niche in China's highly competitive market, notes Rup Narayan Das.
Private sector lender, Axis Bank, plans to hire around 4,500 employees in the current fiscal, of which 2,500 appointments will be through the lateral route, a bank official said.
Customers will not be able to conduct transactions in banks for 4 days in a row as they will be closed from Thursday in many states.
The alleged fraud includes the use of fake bills.
Sitharaman said the government understands that the contours and tone of issues for each sector varied from one to the other.
SoftBank-backed mobility firm Ola, announced expansion of its employee stock options (ESOP) pool to Rs 3000 crore. Ola is also allocating an additional Rs 400 crore worth of stocks to employees in the run up to its IPO. The allocation rewards Ola's high impact employees and will lead to long term wealth creation for them.
The All-India Bank Employees Association on Friday said the proposed two-day national strike on July 25-26 has been deferred after a meeting with Indian Banks Association (IBA) and the labour commissioner in Mumbai.
'An in-house contest encourages employees to share yoga and well-being practices with their families.'
Over 10 lakh (1 million) bank employees across the country are likely to strike work on Tuesday in protest against the 'negative attitude of the Indian Banks Association and the central government' towards their wage revision.
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).
The Hizbul Mujahideen outfit claimed responsibility for the attack.
Banks rearrange human resource priorities.
Reliance has no illegal Swiss Bank accounts.
Growth in corporate profits needs to be commensurate with wages to boost the economy, Economic Survey 2024-25 said, noting that sharp disparities between the two pose risk to the economy by curbing demand. The document tabled in Parliament on Friday noted that while the labour share of GVA (gross value added) shows a slight uptick, the disproportionate rise in corporate profitsredominantly among large firmsaises concerns about income inequality.
We must bring a laser focus on our own interests, and define our friends and foes more clearly instead of trying to live by somebody else's rules. We must grow up, think for ourselves, think India First, asserts R Jagannathan.
'Inflation is not good for industry. Nor for the economy as a whole.'
Kerala-based private sector lender Dhanalakshmi Bank plans to recruit close to 400 employees, almost one-third of its present strength, to build up the existing team to tap more business
BharatPe co-founder and managing director Ashneer Grover, who was recently embroiled in a controversy over purportedly using abusive language against Kotak Mahindra Bank staff, has taken a voluntary leave till March-end. Grover informed the company's Board about his decision to proceed on leave earlier in the day, as per a statement issued by the fintech company on Wednesday. "For now, the Board has accepted Ashneer's decision which we agree is in the best interests of the company, our employees and investors, and the millions of merchants we support each day," it said. It added that the company will continue to be led by its CEO Suhail Sameer and its management team.
The strike by bank employees is part of the one-day all-India general strike, called by major central trade unions.
Ten trade unions to go on strike to protest against changes in labour laws
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.
Also, there were not many clients in the market as they had already made alternate arrangements due to the strike.
The All India Bank Employees' Association (AIBEA), which represents the employees of the public-sector banks, has threatened to go on a two-day strike from August 22, against the government's proposed Banking Bill, closure of rural branches and other set of banking sector reforms.
The Commission observed vulnerability of junior untrained staff on probation and their misuse by senior officials.
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.
Unacademy is conducting another round of job cuts and laying off 350 employees or 10 per cent of its workforce of 3,500, as the SoftBank-backed edtech firm targets profitability and reduces costs, according to an internal note sent by Gaurav Munjal, co-founder and CEO of Unacademy group, to the staff. Munjal said the restructuring exercise would affect about 10 per cent of employees across the group. "I am deeply saddened to share that we will have to say goodbye to some of our extremely talented Unacademy employees," said Munjal in the letter addressed to employees and reviewed by Business Standard.
'It is observed that some of our branches are already losing good balances in their savings deposits as well as fixed deposits, which are maturing, to the other banks.'
The Banking Laws Amendment Bill contains provisions such as raising of shareholders' voting rights from 10 per cent to 26 per cent in private banks and suppression of bank boards.
The association had earlier called for a strike on July 3 to oppose the merger plans of the subsidiary banks with the parent SBI. AIBEA General Secretary C H Venkatachalam said though the government authorities and the bank managements deny any policy decisions or guidelines in this regard, there had been overt and covert attempts to merge the banks.
India Inc continued to grapple with muted revenue growth in the September 2024 quarter (Q2FY25) and witnessed a decline in margins and profits. The headwinds were especially severe for non-financial companies, while banking, financial services, and insurance (BFSI) firms significantly outpaced the rest of the corporate sector. The total profit of 1,353 listed companies that have released their Q2FY25 results thus far dropped by 0.6 per cent year-on-year (Y-o-Y) - the first cumulative earnings decline in eight quarters.
'I wonder if they will keep it up after the elections.' 'I fear they'll start questioning eligibility -- income, age, bank accounts -- and eventually stop the scheme altogether.'
We the people are left in the wind, waiting on the whims of an unengaged president and an oligarch with a nearly bottomless wallet, observes Sree Sreenivasan.
