1. ET News related to HR
(22 Novโ10 to 26 Novโ1o)
Neha Sahi
MBA 2C
2. SBI employees withdraw proposed
two-day strike
โขSBI employees unions have called off two-day
nationwide strike after assurance on increase in wage and
pension from the government.
โขEmployees have also been assured of an amicable
solution of their other demands like
oPayment of additional pay and allowance
oImprovements in superannuation
oFamily pension on par
oPenalty for error in opening of accounts
oRestoration of erstwhile modular structure involving
posting of DGM at Administrative Units.
3. Contd..
โขGovernment has agreed to provide half of the basic pay as
pension based on pay in 2007 instead of 2002.
โขGovernment has assured to revise the wages by 17.50%, for
which a provision of Rs. 289 crore has already been made.
โขHike would benefit 1.7 lakh employees.
โขUnder the new pension scheme the maximum cap would
likely to be on basic salary of Rs. 31,500 instead of Rs. 21,040
.
4. Kingfisher pilots boarding Jet on
growing demand
โขJet hired about 50 benched pilots from Kingfisher
Airlines as co-pilots.
โขFirst batch of 20 pilots has already joined and the rest
will join shortly.
โขJet also looks to hire some experienced pilots as
commanders from its competitor.
โขPoaching is not possible in aviation industry as a no-
objection-certificate is required from the airline whose
employees are being hired by a rival.
5. Contd..
โขThe move is necessitated as Jet is thinking of putting a
bigger aircraft type, A330, as opposed to a smaller Boeing
737 for some of its slots on Mumbai-Delhi route.
โขJet hired pilots from Kingfisher which flies Airbus A320
on domestic routes, to fly its A330, as it requires just a
weekโs training for the transition as Airbus operates on
multi-fleet-flying basis as opposed to Boeingโs training
that requires endorsement for each aircraft type.
6. IDFC mutual fund gets new deputy
CEO
โขInfrastructure Development Finance Company Limited
Mutual Fund announced the appointment of Kalpen Parekh as
the new deputy CEO.
โขPrior to joining IDFC, Parekh was working with Birla Sun
Asset Management Company.
โขHe has also served in ICICI Prudential AMC.
7. Taurus makes senior-level
appointments
โขTaurus Mutual Fund announced that
oJude Abraham have joined as national head of
institutional sales.
oDeepali Dholepatil as head of HR and administration.
โขAbraham has 10 year experience in mutual fund industry and
joins from L&T.
โขDholepatil also has over 10 year experience and joins from
Dun & Bradstreet.
8. IOC, ONGC to appoint pros on
board
โขIOC and ONGC will appoint lawyers, chartered accounts, IIT
professors and prominent IT professionals as independent
directors, in the move that will boost corporate governance
after acquiring โMaharatnaโ status.
โข names are yet to be approved by the Appointments
Committee of Cabinet(ACC).
โขACC may approve the appointments by next month.
9. Contd..
โขThe government has empowered boards of ONGC nad IOC to
invest up to Rs. 5,000 crore in a project without its approval,
from previous Rs. 1,000 crore.
โขFull strength of IOC and ONGC boards is essential as both
companies are schedule to hit the market with their respective
follow-on public offers.
โขAs against requirement of 10, the board of IOC has 6
independent directors.