The bank unions had threatened to go on 4-day strike from February 25.
The year 2007 promises to be a harbinger of higher salary for Indians, as wage increments are predicted to be the highest in the world, says a survey.
Maruti Udyog on Thursday said it has entered into a new five-year wage settlement with its employees' union, aimed at drastically cutting costs and simplifying the wage structure.
'The policy focus of the government should have been on creating more good quality jobs but that was not their focus.'
Trade unions said Jaitley's minimum wage announcement is completely inadequate
'A campaign that goes beyond caste, creed and religion.' 'This is a campaign that aims to end hunger in society'
The Bharatiya Janata Party (BJP) led central government will use the unorganised workers database - e-Shram portal - to provide the benefits of various government programmes to the nearly 300 million workers over the next five years, if it is voted to power for the third consecutive term in the upcoming general elections. "We have registered unorganised workers on the e-Shram platform. "We will reach out to the e-Shram registered 'shramik bandhu' and help them avail the benefits of various government programmes that they are eligible for," the manifesto of the party read.
Britain's wealthiest family, the Hindujas, have said they were 'appalled' by a Swiss court's ruling of jail terms for some members and have filed an appeal in a higher court challenging the verdict finding them guilty of exploiting vulnerable domestic workers from India at their villa in Geneva.
The government has also revised the minimum wages for unskilled non-farm workers upwards by 42 per cent to Rs 350 per day
Bosch Limited's Bengaluru plant reached the settlement with its Workmen Union-Mico Employees' Association on December 8 and, with this, the prolonged "illegal" strike called by the Union comes to an end, it said.
'The nominal GDP growth assumption for FY25 may be revised upwards on higher growth expectations.'
The Union finance ministry has rejected a proposal sent by the labour ministry to double the monthly minimum pension amount to Rs 2,000 under the Employee Pension Scheme (EPS). The Central Board of Trustees (CBT), the apex decision-making body of the Employee Provident Fund Organisation (EPFO), was apprised of the proposal's rejection during a meeting on Saturday. "According to the recommendations made by a highly-empowered monitoring committee constituted by the government, a proposal to increase the minimum pension under EPS from Rs 1,000 to Rs 2,000 per month, by providing additional budgetary support, was sent to the ministry of finance.
In a scathing attack on Prime Minister Narendra Modi, former prime minister Manmohan Singh on Thursday accused him of lowering the dignity of public discourse and the gravity of the office of the PM by giving "hateful speeches" during the poll campaign.
'The Galwan clash in 2020 resulted in a large number of troops being moved from J&K to Eastern Ladakh which caused a thinning of deployment in the Jammu area.'
Prime Minister Narendra Modi on Friday said the Agnipath scheme is an example of necessary reforms undertaken by the Army and accused the opposition of playing politics over the recruitment process aimed at keeping the average age in armed forces young.
Youth unemployment (ages 15 to 29) is higher than the national average of 12.4 per cent in Telangana (14.2 per cent) and Rajasthan (13 per cent), followed by Chhattisgarh (6.7 per cent) and MP (6 per cent).
'It feels like Assam is good just as a tourist spot and not a place to earn and live.'
The Opposition on Tuesday termed the Union Budget as a 'kursi bachao budget' driven by political compulsions and claimed that it ignored opposition-ruled states in a bid to 'appease' Bharatiya Janata Party's allies.
The employers often split wages into different allowances to reduce their PF liability and also increase the take home pay of their workers.
These companies, the study said, will have to either dip into its cash balance or borrow in short term.
A quick look at the Q1FY23 performance of top-tier IT services players shows that they are still far away from getting a grip on managing attrition. Talent retention has eroded not only their margins but also any gains they may have made from rupee depreciation. Despite robust growth numbers and strong deal pipelines, margins for all the players -- TCS, Infosys, HCL Technologies and Wipro -- have continued to shrink at a pace that has had the street surprised.
'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.'
India's largest PSU bank, State Bank of India, delivered excellent results, once the impact of a big jump in employee expenses was adjusted for. The net interest income (NII) beat the Street due to a better net interest margin (NIM) and good loan growth. The credit growth at 5.2 per cent quarter-on-quarter (Q-o-Q) (15 per cent year on year) was excellent for a large bank.
On the other hand, wages in the UK and US are projected to rise by a third by 2030
Here are the key highlights of the BJP's 'Sankalp Patra' for the 2024 parliamentary polls.
In 2022-2023, 15.5 per cent of women were unemployed compared to 11.2 per cent in 2017-2018. For every one woman employed, 10 men got a job.
Is India headed there again? questions Ajit Balakrishnan
The country's largest car maker Maruti Suzuki India on Tuesday reached a wage settlement agreement with its workers at its Gurgaon plant, under which the employees will get an average salary hike of Rs 18,000 per month spread over three years.
Ramesh, a labourer in Toomda village near Bhopal, can't believe his luck. He earns Rs 81 a day, digging wells under the National Rural Employment Guarantee Programme, the United Progressive Alliance's flagship social welfare scheme that started in 2006.
India has been put in lockdown to halt the spread of the coronavirus outbreak. People have been told to stay indoors, but for many daily-wage earners this is not an option.
Profits of India's top listed companies have been growing at a faster pace than those of their American peers, but when it comes to revenue growth, the order has reversed recently. The combined net profit of the S&P 500 companies was up 14.1 per cent year-on-year (Y-o-Y) during the trailing 12 months (TTM) ended December 2023, as against 17.4 per cent profit growth logged by the BSE 500 companies in the same period. This is the second consecutive year of faster profit growth for the BSE 500 companies.
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Seeking to energise his second term, US President Obama on Tuesday said he will issue an executive order to raise the minimum wage for government contract workers to $10.10 an hour, a step which he argued would help reduce poverty in the country.
LIC Housing Finance (LICHF) delivered a healthy FY24 with improvements in net interest margin (NIM) and credit costs and an improved return on assets of 1.7 per cent compared to an average of 1.3 per cent between FY14-FY23. Loan growth was low due to technology upgrades to the platform in H1FY24, though momentum improved in H2FY24. In Q4FY24, the net interest income (NII) came in at Rs 2,250 crore.
Images from the T20 World Cup match between Pakistan and Canada, in New York, on Tuesday.
Modi said the government is committed to enhancing the income level of the handloom weavers apart from putting in place a robust social cover for the weavers' families.
Three industry bodies suggested changes in India's tax regime in their pre-Budget discussions with Revenue Secretary Sanjay Malhotra in New Delhi on Tuesday. The bodies - Confederation of Indian Industry (CII), PHD Chamber of Commerce and Industry (PHDCCI), and Federation of Indian Chambers of Commerce & Industry (FICCI) - held separate meetings with Malhotra during the day and put across their suggestions for the upcoming Budget.
Employees in India will get 2-4 per cent hike.
Finance Minister Nirmala Sitharaman is likely to step up efforts to boost consumption and rural economy while keeping inflation under check when she presents her sixth straight Budget on February 1. Experts said one way to boost consumption is to put more money in the hands of people, and one of the possible ways of doing it is by reducing the tax burden through tinkering with tax slabs or increasing the standard deduction. Another proposal is related to increasing the funds under the rural employment guarantee scheme MGNREGA and higher payout for farmers.
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