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I-bank offers 1.6 crore salary package to IIM-C grad - March 10, 2010

khushi — 2010-03-11T05:05:37Z

An IIM-C graduate was offered a 1.6 crore salary package by a South East Asia based global investment bank in the current placement season, beating the highest offers at IIMA - 1.44 crore and IIMB - 1.14 crore. Indian Institute of Management- Calcutta (IIM-C) has become the prime choice for recruiters with UBS hiring exclusively from the campus. This year main recruiters for IIM-C are UBS - the Swiss investment bank, Temasek Holdings - the investment arm of the Singapore government, Oliver Wyman - a US-based consulting firm, for its New York, London, Singapore and Dubai based offices.

Source: economictimes.indiatimes.com, March 10, 2010. “IIM-C graduate bags Rs 1.6 crore offer”

India most optimistic on hiring: Manpower - March 10, 2010

khushi — 2010-03-11T05:04:28Z

For the next three months, India is going to be the most optimistic nation for hiring opportunities; according to global staffing service firm Manpower. According to the Employment Outlook Survey for the period of April-June, a 4% increase in Indian Inc’s hiring is seen. Indian employers show 39% Net Employment Outlook among all 36 countries where the survey has conducted. From the third quarter of 2008 India has shown a strong recruitment plan amongst all countries. In April–June 2010 job seekers from finance, insurance, reality, manufacturing and mining and constructing sector can expect a better opportunities.

Source: financialexpress.com, March 10, 2010. “'India most optimistic nation on hiring'”

Women MPs more efficient than their male counterparts - March 10, 2010

khushi — 2010-03-11T05:01:08Z

A study done by PRS Legislative Research Says that woman MPs are more successful and qualified than male MPs. When it comes to education, 32% of women MPs hold a post-graduate or doctoral degree where their highly educated male counterparts are only 30%. Even when it comes to age, women MPs are on an average 47 years old, whereas for male MPs average age is 54 years. The 15th Lok Sabha has 58 women MPs with 11% newly elected, reflecting heavily on their performance in the elections. Among political parties, the Trinamool Congress has the highest percentage of women candidates and women MPs.

Source: week.manoramaonline.com, March 10, 2010. “Women MPs more successful, qualified than men: study”

Women Reservation Bill passed in Rajya Sabha - March, 10, 2010

khushi — 2010-03-11T04:58:04Z

The 14 year old battle for the 33% women reservation bill saw a huge victory on Tuesday with the bill being passed in the Rajya Sabha. The legislation gives 33% reservation to women in Parliament and state legislatures. A day long women’s bill debate culminated into its enactment in the Rajya Sabha with the supported of both BJP and left parties. The bill received the support of 186 members in the 245 member house (effective strength of 233), amid continuous protests by RJD and Samajvadi Party.

Source: financialexpress.com, March, 10, 2010. “Huge victory for women in Rajya Sabha”

Recruitment system for teachers to be redesigned in Gujarat - March 8, 2010

khushi — 2010-03-10T07:54:11Z

With the changes in the Secondary Education Act passed by the state assembly of Gujarat, the recruitment system of teachers is planned to be redesigned as well. The Gujarat Educational Laws (Amendment) Bill 2010, law places mandatory education for children within the age-group of 6 to 14 years. The state education department has decided to redesign the recruitment system for teachers at both primary and secondary levels. It is planned to have a centralized selection procedure at the state level against an earlier method of selection at school level.

Source: www.indianexpress.com, March 8, 2010. “State to redesign teacher recruitment system”

IIFT registers highest salary of $150,000 this year - March 8, 2010

khushi — 2010-03-10T07:51:51Z

The Indian Institute of Foreign Trade (IIFT) has recorded the highest average salary of Rs. 11.54 lakh in the current placement season. The placement was from domestic as well as international market and among international offers, the highest package was $150000 per annum. As per the corporate and placement advisor of IIFT, Munish Bhargava, last year around 30 percent of the students opted for public sector jobs for the sake of job security despite private companies offering higher pay packages. The institute has also seen 100% placement this year.

Source: www.business-standard.com, March 8, 2010. “IIFT sees 100% placement; highest-ever salary of $150,000”

Flexi options for women employees to retain talent - March 8, 2010

khushi — 2010-03-10T07:49:27Z

Indian companies have launched special incentives for women employees to maintain gender diversity at the workplace. Companies offer them flexi work hours, childcare, leave of absence, to resume work after maternity breaks to retain talent and offer them opportunity to manage their career. The Tata group had two years ago launched a programme called Tata Second Career Internship Programme for Women (Tata SCIP) which gave a new platform for the women to start their second innings at work after a break.

Source: timesofindia.indiatimes.com, March 8, 2010. “Companies offer flexi options to retain women employees”

Women at PSUs more satisfied with work than BPOs - March 7, 2010

khushi — 2010-03-10T07:46:58Z

A study done by the Associated Chamber of Commerce and Industry of India (Assocham) revealed that women working in public sector undertakings (PSUs) are more satisfied than those working in private outsourcing firms. This study was based on a sample size of 773 working women from11 states. Women prefer PSUs as the sector provide them with job satisfaction, job security, good package and convenient working hours.

Source: in.news.yahoo.com, March 7, 2010. “Women more satisfied working in public sector than BPOs”

Women participation in workforce to increase this year - March 7, 2010

khushi — 2010-03-10T07:44:22Z

The participation of women in the corporate workforce of the country is set to increase this year. As hiring activity picks up after the slowdown, companies that believe in maintaining healthy male-female ratio are going to hire female employees this year. Benefits such as work flexibility and work from home options are increasing the number of female staff in IT companies. Still, a large number of women are not seen at the higher management level due to their early drop out from jobs for various reasons.

Source: economictimes.indiatimes.com, March 7, 2010. “India Inc may hire more women this year: Experts”

ESIC to issue identity cards to insured persons - March 5, 2010

khushi — 2010-03-06T07:29:59Z

The Employees State Insurance Corporation (ESIC) has come up with an information technology enabled project called “Panchdeep” which seeks to issue two magnetic striped “Pehchan cards” to all insured people and their family members. This card can be used to avail cash and medical benefits from any institution of ESIC throughout the nation at anytime. Also, with the change in place or change in employment, cardholders will not require fresh registration as this card will have a life long validity.

Source: www.business-standard.com, March 5, 2010. “ESIC to provide Pehchan cards to insured”

Get set for a double digit salary hike by Indian Inc - March 5, 2010

khushi — 2010-03-06T07:28:23Z

According to a survey conducted by HR consulting firm Hewitt Associates in around 460 organizations across India, it is learnt that this year is going to bring double digit salary hikes for employees. Overall average hike in India will be around 10.6 %, of which Indian companies are expected to give about 11.4% in comparison to MNCs which are likely to give a 10.2% raise. This will bring India in the lead in Asia Pacific region by having highest hike in salary. The economic slowdown last year brought the average salary hike to 6 % against 15 % in the year 2007.

Source: economictimes.indiatimes.com, March 5, 2010. “India Inc set to hike pay by 11.4% this year”

EPFO to go online by the end of this financial year - March 4, 2010

khushi — 2010-03-06T07:14:57Z

In a written reply in Rajya Sabha, Minister of State for Labour and employment Harish Rawat said that online settlement of provident fund claim will be implemented by the next financial year. By the end of this financial year, the project will be implemented in 27 Employees Provident Fund Organisation (EPFO) office and remaining 92 offices by 2010-11, all in collaboration with the National informatics Centre.

Source: www.business-standard.com, March 4, 2010. “Online settlement of PF claim by next financial year”

Employee headcount decreases in central govt undertakings - March 3, 2010

khushi — 2010-03-04T05:03:06Z

The Public Enterprises survey states that the number of employees in Central Public Sector Enterprises (CPSEs) decreased in the year 2009, mirroring the trend seen in recent years. Also, the effects of the economic slowdown led to a cut of 31000 jobs in public sector undertakings in this period. CPSEs job count for the year 2008-09 came down to 15.35 lakh from 15.66 lakh in the previous year. In addition to this, the survey disclosed that CPSEs have a high attrition rate as the employees leave their jobs for higher salaries offered to them else where.

Source: www.indianexpress.com, March 3, 2010. “Central PSUs slash 31,000 jobs in FY’09”

Novel opportunities for company secretaries (CS) in the Companies Bill 2009 - March 1, 2010

khushi — 2010-03-03T05:04:21Z

The president of the Institute of Company Secretaries of India (ICSI) Vinayak Khalvalkar said that the Companies Bill 2009 will provide new opportunities for company secretaries. The Bill will equate company secretary with chief executive officer and chief financial officer and is likely to hold reputable post in the corporate market. Khanvalkar also added that the institute is reviving its course to meet the demands of the present market and will provide them excellence in both employment and public practice.

Source: www.3dsyndication.com, March 1, 2010. “Cos Bill 2009 will boost jobs for CS”

6.38 lakh jobs created in Oct-Dec quarter - March 1, 2010

khushi — 2010-03-03T05:02:38Z

After the tremendous downfall in the job market, signs of revival were seen as a report released by the labour bureau revealed that 6.38 lakh jobs were created in the last quarter of October- December 2009. And out of the total jobs, 91 percent jobs were in export units. Almost all the sectors except transport saw an increase in employment in this period. The survey conducted covered 2953 units of eight selected sectors across 11 states and union territories.

Source: www.financialexpress.com, March 1, 2010. “Oct-Dec quarter sees 6.38 lakh jobs”

RBI to set norms for compensation of pvt bank CEOs - March 1, 2010

khushi — 2010-03-03T05:00:52Z

The Reserve Bank of India will release the draft paper for guidelines on the compensation packages of private sector bank chiefs by March. RBI governor D Subbarao said that they are working on the formation of principles outlined in the Financial Stability Board for proper and balanced compensation policies of private and foreign banks. In the G-20 meet last year leaders from throughout the world expressed concern that high compensation packages for bank executives is not good sign for the financial system.

Source: www.financialexpress.com, March 1, 2010. “RBI norms on pvt bank CEO salary package soon”