Trade unions and bank management, government have had longstanding friction on the wage issue. For several years, unions have complained about wages for PSU bankers being far below government servants, forget the private sector counterparts. With wage disparity between the public and private sector bank employees being a longstanding problem, this has triggered debates among top central bankers. … [Read more...] about IBA, Bank unions agree on 15% wage hike
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"I’m confident Prabh will exceed our expectations by leading Uber India SA on to the path of profitability, further consolidate our partnership with public transport authorities, continue our growth trajectory by expanding Auto and Moto to the next batch of cities, and build iconic teams," he added. … [Read more...] about Uber names Prabhjeet Singh as new India-SA president
"Now, it is left to the banks. You will have an inter-creditor agreement and if 75 per cent of banks in terms of voting share or 60 per cent of banks in terms of numbers, they come to some sort of consensus then you can push through the resolution plan... It is a very good solution and we could not have asked for anything better," he noted. … [Read more...] about RBI circular a welcome step; provides more freedom to bankers: IBA
The bad bank is back on the discussion table. The Indian Banking Association (IBA), the industry lobby of banks, is reportedly considering an asset reconstruction company (ARC)-asset management company (AMC) model to create a bad bank and segregate all bad assets from public sector and private banks into a separate entity. There is no clarity as of now on the final contours of the proposed bad bank and, more importantly, the capital structure. … [Read more...] about Business Insight | What is a bad bank and can it resolve the NPA problem?
Microsoft in January had announced plans to be carbon negative, pledging to remove as much carbon as it has emitted in its 45-year history and allocated $1 billion to create a "Climate Innovation Fund" to invest in developing carbon removal technology. … [Read more...] about Microsoft, Nike, Unilever team up to combat global carbon emissions