Four mid-sized state-run banks shorlisted for privatisation

Revival in job market: January sees 50% rise in vacancies over December

Vaccination drive against COVID-19 and improving economic indicators has enthused employers to recruit. This was evident in a survey which showed job openings increased almost 50 per cent in January as compared to December. Vacancies in January rose to 265,000 from 180,000 in December, according to Xpheno's Active Job Outlook survey.

COVID-19 vaccine: Russia's Sputnik V may be approved by India in next few weeks

India may approve Russia's Sputnik V vaccine for COVID-19 in the next few weeks, says India's Ambassador to Moscow. The vaccine is currently undergoing Phase 3 trials in India. Dr Reddy's Laboratories had collaborated with the Russian Direct Investment Fund (RDIF) in September 2020 to conduct clinical trials of Sputnik V as well as for its distribution.

Fuming netizens bash Modi govt on skyrocketing petrol prices

With no relief in sight from incessant rise in petrol and diesel prices, people turned to Twitter to vent their frustrations on the matter. From memes to graphs, and even some old photos of Bharatiya Janata Party leaders protesting fuel price hikes during UPA reign dotted posts under hashtag #ModiFuelScam. Fuel prices have touched new highs over the last week. In Delhi, petrol has inched closer to Rs 90, whereas, in some districts of Rajasthan, Premium Petrol price has crossed Rs 100 per litre.

Indian IT industry adds $4 billion in pandemic year, IT services near $100 billion in size

The National Association of Software & Services Companies (Nasscom) released its annual summation of the IT industry performance for FY21. According to the report, despite a global pandemic and initial uncertainty the industry registered an overall growth of 2.3 percent with revenues growing from $190bn last year to $194 bn this year. While IT exports now stand at $150bn compared to $147bn last year, domestic demand also grew from $43bn last year to $45 bn this year.

Bank of India, three other public sector banks shortlisted for privatisation

India's government has shortlisted four mid-sized state-run banks for privatisation, under a new push to sell state assets and shore up government revenues, three government sources said. The four banks on the shortlist are Bank of Maharashtra, Bank of India, Indian Overseas Bank and the Central Bank of India. The government is considering mid-sized to small banks for its first round of privatisation to test the waters

New labour codes to affect employees' in-hand salary, companies wage bill

The central government is set to notify the rules under new labour codes, which will have an impact on employees' cost to company (CTC) as well as employers' wage bills. Employers will have to modify the employee compensations once the extensive labour reforms come into play to accommodate the new definition of wages. Expected changes for employees include higher post-retirement benefits, while decline in take-home salaries. Employers are likely to see increased outgo towards provident fund (PF) and gratuity contributions.