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Unhappy over low pay hike by NPA-hit banks, their employees go on 2-day strike

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Unhappy over low pay hike by NPA-hit banks, their employees go on 2-day strike

Banking services will be hit for two days beginning tomorrow, Wednesday, May 30, as employee unions of state-owned and private banks across the country will be on strike to press against a meagre 2%  hike in wages after the last wage revision in 2012.

The bank employees are protesting a ‘meagre’  hike capped at 2%, the reason cited being the huge non-performing assets (NPAs) that banks are grappling with.

A recent CARE Ratings report said NPAs of banks that have declared Q4 results show a 15% jump over December quarter at Rs 7.31 lakh crore, according to media reports.

The confirmation of the bank strike came after conciliatory efforts on the part of  Additional Chief Labour Commissioner (CLC) Rajan Verma failed to work out on Monday.

According to The Business Standard, Verma had held a conciliatory meeting between the United Forum of Bank Unions (UFBU), finance ministry officials and the Indian Banks’ Association (IBA) in an effort to avert the strike. “The CLC tried his best to sort out the strike-related issues but there is no positive development. Though the bankers, through the IBA, said they are willing to reconsider the proposed wage hike, there was no concrete proposal. Hence, the strike stands,” All India Bank Employees’ Association General Secretary CH Venkatachalam told the daily.

AIBEA president Rajen Nagar was reported to have said that ATM security guards will be among the participants in the strike, meaning even some ATMs may remain shut over the next two days.

The strike call was given a week ago by UFBU – an umbrella body of nine unions, including All India Bank Officers’ Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW) – to protest against a ‘meagre’ 2 per cent wage hike offered by the IBA earlier this month.

In the last wage settlement, for the period November 2012 to October 2017, IBA had given a wage hike of 15 per cent. Hence UFBU is now demanding an expeditious and early wage revision settlement, an adequate increase in salary and improvement in other service conditions and wage revision settlement to include all officers up to scale VII, which will include divisional managers to general managers.

IBA has currently decided to restrict wage negotiations to scale-III officers or upto the senior manager-level.

The report added that during the conciliation meeting, UFBU told the CLC that the proposed hike “was not at all acceptable, considering the rise in cost of living”.

As per the minutes of the meeting, IBA officials had stated that in view of the huge non-performing assets that banks are grappling with, the wage hike had to be capped at 2 per cent. According to a recent CARE Ratings report, NPAs of the 26 banks that have declared Q4 results so far show a 15% jump over December quarter at Rs 7.31 lakh crore.

UFBU convener Devidas Tuljapurkar later pointed out that “It is only because of provisions towards NPA that banks have booked losses, and for this, bank employees are not responsible”.

He added that bank employees have worked tirelessly for implementation of government initiatives such as Jan-Dhan, demonetisation, Mudra and Atal Pension Yojana, among others, in the past two-three years, which resulted in a “huge increase in their workloads”.

In light of the above, according to the daily, Verma had advised the bank management to offer a fresh wage hike, adding that “as in the past, wage settlements, the officers from scale-IV to scale-VII were also covered so this time also they may be a part of the wage negotiations because excluding them may cause a fresh controversy which may not be conducive for amicable industrial relations”.

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Google restores delisted Indian apps after government intervention

Google on Saturday restored all Indian apps it had removed.

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Google has started to restore all the delisted Indian mobile apps on Play Store agian, which they had removed due to a disagreement over service fees. After a discussion between company representatives and IT Minister Ashwini Vaishnaw, the decision was made, according to sources.

The step was taken in response to Vaishnaw’s strong statement in which he said that it is not allowed for apps to be removed from the Google Play Store. The minister had said, India is very clear, our policy is very clear…our startups will get the protection that they need.

Vaishnaw  continued saying that he has already given Google a call. They will be speaking with the app developers who were delisted this week. This is not acceptable. The minister said this kind of delisting cannot be permitted.

Ten Indian companies’ apps were banned by Google on Friday, causing outrage in one of its fastest-growing markets. With 94% of phones running on its Android platform, Google holds a large portion of the Indian market. Popular names like Naukri and Bharatmatrimony were on the list.

The main point of contention is Google’s in-app purchase fees, which range from 11% to 26%. Indian startups have long opposed the US tech giant’s actions, believing them to be unfair.

The founder of Bharat Matrimony, Christian Matrimony, Muslim Matrimony, and Jodii, Matrimony.com, expressed shock at the matchmaking apps’ removal from the Google Play Store.

Shaadi. Com CEO Anupam Mittal described it as a dark day for India’s internet, highlighting the possible broad effects on matchmaking services. He also called Google an evil.

While, Kuku FM Co-founder Vinod Kumar Meena in a statement had said that Google was behaving like a monopoly.

Meanwhile, Google temporarily withdrew the famous Indian payments app Paytm from the Play Store in 2020, claiming a few policy infractions. Due to this decision, the founder of the company as well as the larger startup community came together to build their own app stores and file lawsuits against Google.

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Anant Ambani says he is 100% lucky to get Radhika Merchant in his life

Anant Ambani said he was grateful to get Radhika as his life partner. He said he is 100% lucky to get Radhika Merchant in his life. He said every day he is falling more and more in love with her. He added although he had known Radhika for the last 7 years, it felt he had met her only yesterday. He thanked Radhika for everything.

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Anant Ambani and Radhika Merchant’s grand three-day wedding celebrations began with a glamorous cocktail night on Friday in Jamnagar. During the celebrations, Anant Ambani also gave a speech wherein he thanked his late grandfather Dhirubhai Ambani and grandmother Kokilaben Ambani for inspiring him. Anant Ambani said he was grateful to get Radhika as his life partner. He said he is 100% lucky to get Radhika Merchant in his life. He said every day he is falling more and more in love with her.

He expressed his gratitude to his mother for pulling together the lavish three-day wedding celebrations in Jamnagar. Anant thanked his mother for all she had done. He said all the arrangements had been done by his mother and nobody else. He added his mother had gone all out and she had worked 18-19 hours a day and he was extremely grateful to her.

He also thanked all the guests who were present there at the pre-wedding celebrations. He said everyone had made it to Jamnagar to make him and Radhika feel special. He said both of them were honored and humbled to have all of them present there. Anant said he was sorry if they had caused an inconvenience to anyone. He asked for forgiveness. He hoped everyone is going to enjoy the coming three days. He also thanked his mother, father, sister, brother, his sister-law and his brother in-law for making this event memorable.

Anant said everyone has been sleeping for less than 3 hours a day for the last 2-3 months and he was very happy to share this joy with everyone. The youngest Ambani talked about his personal struggles and how his parents had always supported him. He further added his life had not been entirely a bed of roses. He said he had also experienced the pain of thorns. He said he had faced many health crises.

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Facebook chief Mark Zuckerberg shares pictures from 2nd day of Anant Ambani and Radhika Merchant pre-wedding celebrations

Zuckerberg shared pictures from the 2nd day of Anant Ambani and Radhika Merchant’s pre-wedding celebrations. In the photograph Mark Zuckerberg can be seen along with his wife Priscilla Chan. The couple is exuding happiness as they prepare for the event. He captioned the picture it is getting wild out here.

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Facebook boss Mark Zuckerberg and wife Priscilla Chan joined the star- studded pre-wedding celebrations of Anant Ambani and Radhika Merchant in Jamnagar on Friday. The event was attended by many prominent figures from different fields. Zuckerberg took to his Instagram handle congratulated the couple and said he loved Indian weddings.

Zuckerberg shared pictures from the 2nd day of Anant Ambani and Radhika Merchant’s pre-wedding celebrations. In the photograph Mark Zuckerberg can be seen along with his wife Priscilla Chan. The couple is exuding happiness as they prepare for the event. He captioned the picture it is getting wild out here.

The theme of the opening day of the pre-wedding celebrations was Evening in Everland as the guests wore cocktail attire. The first day of the grand celebrations elevated the expectations of the guests for the following days. The theme of the 2nd day of the pre-wedding bash is known as a Walk on the Wildside and the guests can be seen in Jungle Fever attire.

Zuckerberg has opted for an animal print shirt with white trousers, Chan is complementing his look in a strappy one piece in black and golden. The Jungle theme is aligned to Vantara, Reliance’s animal welfare initiative undertaken and launched by Anant Ambani a few days back.

International pop star Rihana electrified the pre wedding celebrations on Friday with an amazing performance, marking her debut appearance in India. The chart topping artist engaged the audience with performances of her iconic hits which included Pour it Up, Work and Diamonds.

Zuckerberg graced the opening day, wearing a black-on-black firefly blazer and shoes from Alexander McQueen while his wife Priscilla wore a black gown with gold flower details and other accessories such as dainty chain bracelet, gold necklace and stud earrings. Mark Zuckerberg and wife Priscilla Chan are one of the Power couples invited from the global business community for the festivities currently underway at Jamnagar.

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