It is to be seen if SBI under Setty, who will have a three-year term, can ride the economic cycle to take SBI to new heights, navigating some of these challenges.
Worried about how AI will impact your job? Find out from rediffGURU R P Yadav.
India's largest IT services player Tata Consultancy Services (TCS) saw its $2 billion, 10-year deal with Transamerica Life Insurance Company come to an end even before the period was over. Transamerica is the subsidiary of American arm of Dutch insurer Aegon NV. This is not the first time such a long-term deal has been called off. Earlier this year, UK's National Employment Savings Trust (NEST), ended a $1.8-billion deal with French IT services player Atos.
The most popular benefit across all demographics is company health care programs to compensate for the increased costs of medical care.
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.
HR Guru Mayank Rautela offers practical advice.
Interest on employee contributions to provident fund over Rs 2.5 lakh per annum would be taxed from April 1, 2021, a move aimed at taxing high-value depositors in the EPF. Finance Minister Nirmala Sitharaman said the Employee Provident Fund (EPF) is aimed at welfare of workers and any person earning less than Rs 2 lakh per month will not be affected by the Budget proposal. Expenditure secretary T V Somanathan said the number of people who actually contribute more than Rs 2.5 lakh is less than 1 per cent of the total number of contributors in the EPF.
Prime Minister Narendra Modi on Friday said the world sees yoga as a powerful agent for global good as it helps people live in the present without carrying the baggage of the past.
The first quarter results (Q1FY25) of Indian IT services hint towards better fiscal growth than the preceding year, but as the management commentary said, "there is still some time for the industry to be firing on all cylinders." Among the majors-Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro-it is the Bengaluru-based Infosys that has performed better, which was also evident in its full-year revenue guidance.
In the event of the BJP's poor performance in the assembly polls this year and in early 2025, Modi's hold will get further weakened because he will no longer remain the invincible electoral persona tightly controlling the machine at his disposal, asserts Nilanjan Mukhopadhyay.
The dealers operating in the space have jumped nearly three times over the past two years.
Asia's richest man, Mukesh Ambani, signed off an address to employees last week by assuring them that 2024 would be better than 2023 for both Reliance Industries and India. Ambani isn't an exception. Promoters and their representatives from several other conglomerates have expressed similar optimism.
Nasdaq-listed Cognizant Technology Solutions has signed a definitive agreement to acquire global engineering company Belcan for about $1.3 billion (Rs 10,853.7 crore) in cash and stock. The transaction is expected to close in the September quarter. The total consideration includes $1.19 billion (Rs 9,935.31 crore) in cash and 1.47 million Cognizant shares, valued at $97 million (Rs 809.53 crore) based on the information technology services provider's closing share price on June 7, 2024.
'it's not just youth in India who are left behind because of their inability to find jobs; nearly two-thirds of Indian women of working ages do not participate at all in the paid labour force.'
Compulsory retirement is part of a half-yearly exercise now for cases where government wants to weed out officers, but without taking the disciplinary proceedings route.
Shares of low-cost airline IndiGo hit record high on the bourses soon after reports of pilot crisis at Vistara emerged. The development also saw airfares surge by around 25 per cent on select routes. Shares of IndiGo hit a lifetime high of ~3,68.5 on April 2, 2024, and has gained 2.4 per cent on the bourses in April.
Ramalingam Kalirajan explains the pros and cons of both investment types.
Around 88 per cent of all Indian employers surveyed said they offered benefits to attract employees from competitors.
'You have to have commitment to both, but it has to be done at the individual level.'
According to TimesJobs.com's latest Compensation and Benefit survey, employees prefer in-hand salary rather than medical facilities, post-retirement benefits and other perks.
The Confederation of Indian Industry in its budget wish list has urged to government to scrap the fringe benefit tax.
Technology start-ups that got listed in the last few quarters reported a hit to their December-quarter (Q3FY22) profitability due to higher marketing and employee costs. While fintech firms Paytm and PB Fintech saw their losses widen by 45 per cent year-on-year (YoY) to Rs 778 crore and 55 per cent to Rs 295 crore, respectively, food delivery company Zomato remained in the red despite narrowing its net loss by 81 per cent to Rs 66 crore. Meanwhile, online fashion and beauty products seller Nykaa saw its net profit drop 59 per cent to Rs 28 crore in Q3FY22.
All India Radio and Doordarshan employees, affiliated to National Federation of Akashvani and Doordarshan, are holding a day-long demonstration in Mumbai on Tuesday, protesting the "denial" of benefits given to government employees.
'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.'
Understanding tax residency rules and maintaining proper documentation is imperative to ensure smooth tax compliance.
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.
To offer additional support at the low end of the income ranges, the Centre will consider a large-scale jump in exemption rates under the old income-tax regime in the vote on account, or interim Budget, according to a senior official in the know. Those will include an extension of the income tax exemption rates close to Rs 7 lakh and additional measures for women farmers.
US short-seller Hindenburg Research had shared an advance copy of its damning report against Adani group with New York-based hedge fund manager Mark Kingdon about two months before publishing it and profited from a deal to share spoils from share price movement, according to market regulator Sebi. The Securities and Exchange Board of India (Sebi), in its 46-page show cause notice to Hindenburg, detailed how the US short seller, the New York hedge fund and a broker tied to Kotak Mahindra Bank benefited from the over USD 150 billion routs in the market value of Adani group's 10 listed firms post-publication of the report.
Vijaya Bank assured employees that the service conditions 'will remain unaffected and staff benefits retained'
The resolution seeking his reappointment as chairman and managing director of the diversified conglomerate will be put to vote at the company's annual general meeting to be held on August 11, 2023, according to a notice sent to the shareholders on Tuesday. The company under Puri drove the 'ITC Next' strategy in the last four years encompassing digital acceleration, cost optimisation, investing in new growth vectors and ensuring supply chain agility, its officials said.
Over 8.5 lakh employees, majorly from public sector banks (PSBs), will get a 15 per cent hike in pay, with the conclusion of the 11th Bipartite Wage Negotiations on Wednesday. After three years of intense negotiations, the UFBU, which represents four bank officer associations and five workman unions, and the IBA on July 22 entered into a memorandum of understanding (MoU) for an annual wage hike of 15 per cent.
'We're putting a lot of focus on GenAI developers and people who can really do all the architecture and programming.'
Restricts buying by schemes from secondary market.
'We all work hard and save money, and later spent it in hospitals!'
Let's take a look at some amazing perks Google offers to employees.
When large companies fall into financial difficulties, it always amazes me to see where they turn first for help in overcoming their problems -- to their hourly workers and other frontline employees, who are asked to take pay cuts and reductions in benefits such as health insurance and pensions.
'The government has put in a lot of effort to provide infrastructure for the industry.'
US media reports that Meta Platforms, the parent company of Facebook, Instagram, and WhatsApp, could be the latest technology giant to downsize its workforce have triggered trepidation among its 300-400 employees in India, according to people familiar with the matter. "We have not heard much about the impact (of downsizing) on India. "It's a wait-and-watch situation. Certainly, there is uncertainty," said a source.
The New Year doesn't seem to be bringing good tidings for salaried employees. The tax burden of certain benefits that was being borne by the employer so far has been shifted to the employees now.
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