Bank hiring touches 3 lakh in 4 years: IBA

MUMBAI: State-run banks hired nearly 3 lakh personnel, including over 94,000 officers, in the last four years, according to data released by industry lobby IBA. The public sector banks hired 2,97,896 staff between April, 2009 and August, 2013, the Indian Banks Association (IBA) said, while refuting the reports that banks have gone slow or are […]

Bajaj offers Rs 10,000 hike to Chakan factory workers

MUMBAI: Amidst talks between unions for resolving the wage revision issue at Bajaj Auto’s Chakan unit, the company on Sunday said it has decided to give a hike of Rs 10,000 per month in a phased manner to workers at the plant. Even as a meeting between the employees union at Chakan and the Shramik […]

India records peak power deficit of 4 percent: CEA

NEW DELHI: Country’s peak power deficit — shortfall in electricity supply when the demand is at the maximum point — was 5,378 MW or 4% last month. The deficit was much lower than recorded in January 2013. According to the latest data by the Central Electricity Authority (CEA), the total peak power demand in the […]

Interim budget key for markets in near-term: Experts

NEW DELHI: Interim budget for 2014-2015, which the government will unveil on Monday, will set the tone for the stock markets in near-term, experts said. Besides, global cues, movement of rupee and investment pattern of foreign institutional investors (FIIs) will also be important for the domestic indices. Finance minister P Chidambaram will present the interim […]

Mobile phone tariffs likely to rise

NEW DELHI: Mobile phone tariffs are set to increase and freebies and discounts likely to be further brought down, leading mobile service providers made it clear today. The fresh spectrum purchases at the recent auction were being cited as one of the factors for the likely rise in tariffs. Marten Pieters, the CEO of the […]

HDFC Bank launches toll-free banking service

NEW DELHI: Private-sector lender HDFC Bank has launched its toll-free banking service which will help customers in carrying out six basic banking transactions just by dialling the numbers. Customers will receive an instant SMS with the information requested including mini statement and balance enquiry on their registered mobile number, said Nitin Chugh, HDFC Bank head […]

Bidding for privatisation of 6 airports deferred

NEW DELHI: Putting a question mark on the entire project of privatising six major airports developed by Airports Authority of India (AAI) including Kolkata and Chennai, the bidding process has been postponed once again till mid-March. This is the third postponement since November last year when the process was formally started. Problems have arisen on […]

Valley hoteliers hail ‘tourism-friendly’ budget

SRINAGAR:  The Valley hoteliers have welcomed the budget announcement by Finance Minister Abdul Rahim Rather terming it as ‘tourism friendly’. However, the hoteliers have urged government to provide industrial benefits also to the tourism sector for its promotion. In a joint statement, Kashmir Hotels and Restaurant Association (KHARA) and Kashmir Hotels and Restaurant Owners Federation […]

‘Reduce’ rating on Jammu and Kashmir Bank Ltd shares: Kotak Institutional Equities

We  have a ‘reduce’ rating on Jammu and Kashmir Bank Ltd and maintain our negative outlook. We roll forward our target price to R1,300 (from R1,250), which would imply 1x P/B and 6x EPS. We are less comfortable on the growth within J&K in segments like priority sector where we believe that the NPL risk […]

Employ locals in rail, power projects: J&K govt to implementing companies

Jammu: Minister for Planning, Labour and Employment, Ajay Sadhotra has asked the authorities of the companies executing Rail, Road and Power Projects in the State to evolve a system to benefit the families affected during project implementation besides engaging maximum locals in  skilled and unskilled jobs. This was stated by the minister while taking stock […]