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| Bhartiya Mahila Bank to recruit 115 probationary officers |
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| Bhartiya Mahila Bank, the first nationalised bank for women expected to be operational from November, intends to recruit 115 officers initially. The bank has invited applications through online mode from female candidates for 115 posts. Candidates have been asked to apply online till September 30. |
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| Source : 20-09-13 Financialexpress.com Compiled by Amresh Anjan |
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| India to ink workers' safety pact with Saudi |
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| Indian workers in the Gulf can hope for a secure work environment as the government is planning to ink bilateral agreements with some of the countries on workers' welfare. The Union cabinet is set to approve a draft bilateral agreement with Saudi Arabia —one of the top destinations for Indian immigrants. Among the key measures, the Centre wants to ensure that all domestic workers in Saudi Arabia will have mandatory bank accounts and their employers will be legally obliged to deposit their salaries in that account every month. As there are several reports of financial deprivation and non-payment of wages to forced labour, New Delhi is keen to push the Gulf countries to bring transparency in the system. The agreement also aims to make the working conditions and other contractual obligations of workers compatible with the labour laws of both countries, otherwise the hiring or placement agencies would not be allowed to recruit expat workers. |
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| Source : 19-09-13 Hindustantimes.com Compiled by Amresh Anjan |
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| Top executives willing to jump ship for New Job |
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| A new study has revealed that majority of the high-level executives are ready to leave their job for another, if a recruiter offers them a fresh opportunity. Mr. Peter Cappelli, a professor at the University of Pennsylvania's Wharton School, analysed the data of a prominent executive-search firm to find how frequently executives were positive in their response to recruiters. He found that more than half of chief executives said that they were ready to participate in a search, and so did 65 percent of executive vice presidents. |
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| Source : 22-09-13 Business-standard.com Compiled by Amresh Anjan |
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| Mr. Sanjeev Chadha to head PepsiCo's Asia, Middle East, Africa business |
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| PepsiCo Inc. has promoted Mr. Sanjeev Chadha as chief executive officer of its Asia, Middle East and Africa (AMEA) business, the company said in a statement on Monday. Prior to this, he was president of the Middle East and Africa business. In his new role, Mr. Chadha will be responsible for overseeing all aspects of the food and beverage company's businesses across 90 countries, including those in Asia such as China and India, West Asia and North Africa, Australia and New Zealand, as well as the beverages division in sub-Saharan Africa, which together generated over $6.6 billion in revenue in 2012. The appointment comes after Mr. Saad Abdul Latif, PepsiCo's CEO for the AMEA business, died in August. Mr. Chadha will report to PepsiCo chairman and CEO Ms. Indra K. Nooyi. |
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| Source : 24-09-13 Livemint.com Compiled by Amresh Anjan |
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| Mr. Pawan Goenka elevated at M&M |
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| Mahindra & Mahindra (M&M), the market leader in the sports utility vehicle and tractor segments, announced the elevation of Mr. Pawan Goenka to the post of executive director. Mr. Goenka, president of the automotive and farm equipment sectors at the Mumbai-based M&M, will now be executive director and president (automotive and farm equipment sectors). |
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| Source : 24-09-13 Business-standard.com Compiled by Amresh Anjan |
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| India's TCS, GE launch female BPO centre in Saudi Arabia |
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| India's Tata Consultancy Services (TCS) in partnership with GE and Saudi Aramco launched the first all-female business process outsourcing (BPO) centre in Saudi Arabia that will create nearly 3,000 jobs in the Gulf kingdom. The centre, in Dhahran, headquarters of Saudi Aramco, will be staffed by Saudi women with TCS and GE owning 76 percent and 24 percent equity respectively in the new venture, which will initially serve Saudi Aramco and GE as anchor clients. The collaboration of the three companies underscores their strong commitment to support Saudi Arabia's localisation strategies to diversify the Kingdom's economy and enable the growth of a viable employment sector, TCS said in a statement. The centre brings a unique business model to Saudi Arabia, and is set to become a rich training ground for building new capabilities, skills and careers for Saudi females. It employs skilled graduates in the areas of finance, accounting, human resources management and supply chain management services. "We are delighted to work with Saudi Aramco and GE to help provide careers for women in the Kingdom and enable them to contribute to its economic progress," said Tata Group chairman Mr. Cyrus Mistry."Saudi Arabia is a focus market for the Tata Group where we have built strong partnerships and this ambitious initiative is an example of our commitment to this market," he said. |
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| Source : 25-09-13 Vancouverdesi.com Compiled by Amresh Anjan |
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| Citigroup to cut 1,000 mortgage jobs, mostly in Las Vegas |
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| Citigroup Inc is eliminating about 1,000 jobs in its US home mortgage business after higher interest rates reduced the demand for new loans and refinancing, according to a statement from the company on Monday. About 760 of the jobs are in Las Vegas, with another 100 at a Citigroup site in Irving, Texas, said a person familiar with the matter. The cuts amount to about 8% of the 13,000 jobs in the division. "These actions reflect our ongoing efforts to increase operational efficiency, adapt to changes in the marketplace, and position the business for the future," the company's statement said. |
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| Source : 24-09-13 Business-standard.com Compiled by Amresh Anjan |
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| India's Tata Motors to shut Spanish bus unit over losses |
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| India's giant Tata Motors announced that it is closing its Spanish bus and coach manufacturing factory next month due to "huge losses" in a shrinking European market. The shutdown of the Tata Hispano Motors Carrocera plant in Zaragoza, after it racked up accumulated losses of more than 60 million euros ($81 million) in the past five years, will mean the loss of 287 jobs. Tata Motors, which owns Britain-based luxury marque Jaguar Land Rover, blamed the closure of the nearly 75-year-old firm on "economic and business factors". "Despite strong investments, there has not been a positive result to reverse the challenging business situation and losses for the plant," Tata Motors said in a statement. |
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| Source : 24-09-13 Globalpost.com Compiled by Amresh Anjan |
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| Government gearing up for reservations for Jats in central jobs |
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| The central government is taking steps to make reservation for Jats in central jobs a reality soon. Sources said that the United Progressive Alliance (UPA) could concede to the long pending demands from its own party leaders as well as ally Rashtriya Lok Dal (RLD)'s Mr. Ajit Singh to give quotas to the Jat community in central jobs. The community has been demanding reservation within the existing 27 per cent quota reserved for other backward classes (OBCs) in central government employment. Such a move, say sources, however could prove to be a windfall for parties like the RLD, whose main votebank is entrenched within the community. |
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| Source : 25-09-13 Business-standard.com Compiled by Amresh Anjan |
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| International hiring plummets at IIM-A 2013 placements |
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| Despite adverse market conditions, India's premier business school, Indian Institute of Management, Ahmedabad (IIMA), did not witness a hiring freeze with more than 130 firms participating in the placement process for 2013. As per the institute's report, the highest domestic salary offered was R32, 65,000 for the flagship Post-graduate Program in Management (PGP) in banking, financial services and the insurance sectors. However, a reverse trend can be seen in international placements, with only 15 students placed outside India against 40 last year. As per the data provided by the institute, the highest salary offered for international placement was $1, 25,000. Out of the 373 students eligible for placement in the current year's programme, 360 sought placement through the institute while five chose entrepreneurship. Boston Consulting Group was the top recruiter across clusters, picking 15 students from the campus, followed by Accenture (13). It was followed by McKinsey & Company and Capgemini, each making 10 offers. Among global investment banks, Goldman Sachs lapped up seven students for roles in financial markets and quantitative strategy. |
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| Source : 21-09-13 Financialexpress.com Compiled by Amresh Anjan |
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| Sundaram Finance's BPO arm bags 5 deals, to hire 150 people |
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| Sundaram Business Services, the BPO subsidiary of Sundaram Finance, said it has bagged 5 deals from Indian and Australian companies and the firm will hire 150 people in the next 12 months. "Sundaram Business Services (SBS) announced the company, which employs over 1,100 people, will be hiring another 150 people in the accounting space for its BPO facilities in Chennai and Mumbai over the next 12 months," it said in a release. The Chennai-based firm has also bagged 5 outsourcing deals for accounts payable solutions from companies in India and Australia, it added. SBS offers end to end accounts payable processing, which includes processing and summarising payments to vendors, as well as employee expense reimbursements. "Over the next 12 months, the company is targeting to add 6-8 new customers for its accounts payable offering that will involve handling at least an additional 100,000 transactions annually," it said. |
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| Source : 23-09-13 Indianexpress.com Compiled by Amresh Anjan |
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| No sign of slowdown in hiring of CAs |
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| Beating the slowdown, 58 top companies hired over 624 chartered accountants during campus placements at an average annual remuneration of Rs 7.36 lakh, the highest package being Rs 24.64 lakh offered to three students. The Institute of Chartered Accountants of India, the statutory body for regulation of chartered accountants in the country, held its second campus placement programme for the current year across 16 cities of the country recently. Despite an economic slump, recruiters such as ITC, Hindustan Unilever, Tata Consultancy Services, Wipro, Madura Fashion and Life Style and Marriott Hotels India. |
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| Source : 24-09-13 Thehindubusinessline.com Compiled by Amresh Anjan |
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| Insurance scheme for workers to be revamped; wage limit hiked |
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| Ahead of a series of Assembly elections and the general election next year, the labour ministry has initiated a move to revamp key social security schemes for formal sector workers. While the ministry has increased the wage ceiling for mandatory health insurance coverage to Rs 25,000 to bring in more workers under its ambit, it is also planning to improve benefits under its crucial life insurance scheme to bring back members who have migrated to similar schemes of private sector insurers. The Employees' Deposit Linked Insurance (EDLI) scheme provides insurance cover of up to Rs 1.3 lakh to every member of the Employees' Provident Fund in case of death before retirement. But with the relatively low life cover under the scheme, employers were allowed to shift to group insurance plans of private companies if the benefits were better compared to the EDLI. The Employees' Provident Fund Organisation, which also manages the EDLI, has now begun a review of the scheme to life insurance scheme to match the benefits provided by private insurers. The issue was taken up at a review meeting of the EPFO earlier this month and a detailed proposal is now being worked out. |
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| Source : 25-09-13 The Indian Express Compiled by Amresh Anjan |
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| Tech Mahindra sets up engineering college with French university tie-up |
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| With a turbulent past behind it, Tech Mahindra is now looking at a novel way to build skilled workforce for the information technology and communication industry. The Mahindra group company is going to start an engineering college soon with a view to promoting future needs of the technology industry. Tech Mahindra's Executive Vice-Chairman Mr. Vineet Nayyar said the company has tied up with the 200-year-old French university École Centrale Paris to set up the institute. 'Mahindra Ecole Centrale' is the maiden venture of Mahindra Educational Institutions, a subsidiary of Tech Mahindra. This, however, is not to be restricted to technological studies only. There would be several other streams such as energy, infrastructure and humanities. 'Mahindra École Centrale' will be based on a modern and international academic programme that "blends basic scientific and technical education with contemporary industry practices", Mr. Nayyar said. |
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| Source : 20-09-13 Thehindubusinessline.com Compiled by Amresh Anjan |
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| India IT climate nervous, US, Europe encouraging: says Tech Mahindra MD Mr. CP Gurnani |
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| Tech Mahindra managing director and chief executive officer Mr. CP Gurnani said the Indian IT business climate had turned a bit nervous, whereas globally, US was encouraging and Europe was much better now."The IT industry expects rupee to stabilise for healthy growth atmosphere to return. With high rupee volatility, Tech Mahindra has hedged a good part of its order book," said Mr. Gurnani. Instead of focusing more on day-to-day hedging activities, Tech Mahindra had started to work on improving business strategies to stay ahead, he added. When asked to disclose hiring plans for the current fiscal, Mr. Gurnani, sceptical of guidance estimates, said the company had been growing and it was investing in IT automation and other verticals. |
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| Source : 20-09-13 Business-standard.com Compiled by Amresh Anjan |
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