Over 60 pc firms in India still hiring
At a time when thousands of jobs are lost worldwide, India Inc seem to be bullish on recruitment, with more than 60 per cent of companies still going ahead with their hiring plans.
How far have we to TOLERATE the UNETHICAL HIRE FIRE POLICY and GOI permitting WORKING CONDITION to DETERIORATE!
Moreover, the survey by global HR firm Hewitt Associates shows that just 12.6 per cent of firms are considering layoffs.
The findings are part of the HR firm's 'annual salary increase survey' released here today. It was conducted from December 2008 to the end of January.
About 480 companies spread across diverse sectors were surveyed and out of them, nearly 60 per cent were multinational entities.
"More than 60 per cent of companies in India are still hiring, and nine out of every ten companies are still giving promotions," Hewitt said in a statement.
Meanwhile, the survey said that about 37.3 per cent of companies in India are taking the action of ‘hiring freeze’.
And the figure is much less than in China (63.3 per cent).
Striking a cautious note, the survey pointed out that even though only 12.6 per cent of firms in India are considering layoffs, the figure is likely to rise.
"Importantly, the number of companies considering layoffs is expected to increase further," the statement noted.
The data for other countries has been collected over November 2008 while for India, the same was gathered from December 2008, it added.
Meanwhile, the survey showed that India is expected to see a salary rise of 8.2 per cent in 2009, the highest in the Asia Pacific region.
Hewitt noted that the attrition rate in companies in India has come down drastically in the last six to eight months.
"Attrition among the firms in India has declined significantly. In recent times, the rate has come down to around 9 to 11 per cent as compared to 18 to 20 per cent in the last six to eight months," Sandeep Chaudhary, the leader of Hewitt's Performance and Rewards Consulting Practice (India) said.
According to Hewitt, only 12.6 per cent companies in India are considering layoffs whereas the same is at 55 per cent in the US.
Among other nations, about 32.4 per cent of Australian firms are mulling over layoffs, China (30.6 per cent), Hong Kong (25.6 per cent), New Zealand (23.1 per cent) and Japan (17 per cent).
Mass lay-offs in Gulf touches panic among Indians
With large scale lay-offs in the Gulf triggered by shelving of mega construction projects touching off panic among Indian workforce, a top diplomat said they were monitoring the situation closely.Venu Rajamony, India's Consul-General in Dubai, said the mission is concerned with the recent developments and they are watching the situation very closely.
His comments come in the backdrop of reports of flights from the Gulf to the Indian sub continent running full bringing back thousands of retrenched Indian workers.
Rajamony said that airlines are getting bulk bookings over the January-March period, "We expect that about 25,000 people will be going to India. But we don't yet know whether they are going on leave and will come back and on what terms."
The number of recruitments of Indian workers has fallen drastically in recent months. "From around 3,500 in January-February of 2008 it has come down to around 250-300 people this year," he said.
There has been a spate of job losses in recent weeks in Dubai mostly in the construction and banking sectors.
Global Meltdown: NRI commits suicide in Delhi
The global meltdown has claimed one more life in the national capital with a young NRI, who returned from Canada after losing his job, allegedly committing suicide in his residence, police said.Vijay (31), who was working with a multinational company in Canada till five months ago, was found hanging in his flat in Paradise Apartment of Dwarka's Sector 9 at around 1:30 pm on Friday by his family members.
The youth was shown the door by his company due to the global crisis and had returned to the capital early 2008, leaving his Canadian wife and a one-year-old daughter there, a senior police official said.
Vijay, who was completing his MBA course in Canada, was staying in the Dwarka flat along with his parents and brothers since his return one-and-half months ago.
His family, which informed police after finding him hanging in his room, said Vijay was under depression after he lost his job.
He was rushed to a nearby hospital where he was declared brought dead.
A suicide note was recovered from his room in which he claimed that he was fed up with life.
His father is a retired colonel, police said, adding his wife and daughter are still in Canada.
Obama widens missile strikes inside Pakistan: Report
US President Barack Obama has broadened the list of radical groups to be targeted by the Central Intelligence Agency (CIA) and the group led by Baitullah Mehsud is one of them, 'The New York Times' reported.
The strikes are another sign that Obama is continuing, and in some cases extending, Bush administration policy in using American spy agencies against terrorism suspects in Pakistan, as he had promised to do during his Presidential campaign.
The missile strikes on training camps run by Baitullah Mehsud represent a broadening of the American campaign inside Pakistan, which has been largely carried out by drone aircraft.
Last week, American drones attacked a camp run by Hakeem Ullah Mehsud, a top aide to the militant leader. But the Pakistani Taliban chief himself was not killed.
By striking at the Mehsud network, US may be seeking to demonstrate to Pakistan President Asif Ali Zardari that the new administration is willing to go after the insurgents of greatest concern to Pakistani leaders.
But American officials may also be prompted by growing concern that the militant attacks are increasingly putting the civilian government of Pakistan, a nation with nuclear weapons, at risk.
Mehsud was identified early last year by both American and Pakistani officials as the man who had orchestrated the assassination of Benazir Bhutto, the former Prime Minister and the wife of Pakistan's current President, Asif Ali Zardari.
Bush included Mehsud's name in a classified list of militant leaders whom the CIA and American commandos were authorised to capture or kill.
For months, Pakistani military and intelligence officials have complained about Washington's refusal to strike at Baitullah Mehsud, even while CIA drones struck at Qaeda figures and leaders of the network run by Jalaluddin Haqqani, a militant leader believed responsible for a campaign of violence against American troops in Afghanistan.
According to one senior Pakistani official, Pakistan’s intelligence service on two occasions in recent months gave the United States detailed intelligence about Mehsud's whereabouts, but said the United States had not acted on the information.
Bush administration officials had charged that it was the Pakistanis who were reluctant to take on Mehsud and his network, the paper reported.
The strikes came after a visit to Islamabad last week by Richard C. Holbrooke, the American envoy to Pakistan and Afghanistan.
But Obama administration officials face the same intractable problems that the Bush administration did in trying to prod Pakistan toward a different course, the ‘New York Times’ reported.
Pakistan still deploys the overwhelming majority of its troops along the Indian border, not the border with Afghanistan, and its intelligence agencies maintain shadowy links to the Taliban even as they take American funds to fight them.
Under standard policy for covert operations, the CIA strikes inside Pakistan have not been publicly acknowledged either by the Obama administration or the Bush administration.
Using Predators and the more heavily armed Reaper drones, the CIA has carried out more than 30 strikes since last September, according to American and Pakistani officials.
The attacks have killed a number of senior Qaeda figures, including Abu Jihad al-Masri and Usama al-Kini, who is believed to have helped plan the 1998 American Embassy bombings in East Africa and 2008’s bombing of the Marriott Hotel in Islamabad.
26/11 masterminds had 320 targets on their hit list
Western intelligence agencies have accessed the computer and email account of Lashkar’s communications chief, Zarar Shah, and found a list of possible targets, only 20 of which were in India.
According to a report in the 'Guardian', the LeT wanted to carry out such strikes beyond India to create terror. Shah and Lashkars operations chief Zakiur Rehman Lakhvi, two of the main plotters of the Mumbai carnage, are now in Pakistan Police custody.
Pakistan’s decision to bring criminal charges against nine men accused of involvement in the Mumbai attack has partly placated Indian officials.
The US has been trying behind the scenes to co-ordinate intelligence exchanges between India and Pakistan.
Intelligence agencies have warned that Mumbai raises the spectre of a new style of terrorist assault when 10 heavily armed gunmen created mayhem for three days and brought the city of 19 million people to a halt.
Nine of the gunmen were killed, but the lone survivor has given Indian investigators a full confession that the assault was planned in Pakistan by LeT.
There has been some speculation that raids in Spain in which netted 12 men including an Indian and 11 Pakistanis arrested were a result of the investigations into Lashkar’s role in the Mumbai attacks.
India invited for G20 meet on global crisis
London Prime Minister Manmohan Singh is among the top world leaders who have been invited for the Second G20 Summit to be held here in April, which will discuss ways and means to reinvigorate growth in the wake of the global economic crisis.
British Prime Minister Gordon Brown, whose country will host the global economic summit, has sent formal invitations to the world leaders.
"The global economic challenges we face need to be met with decisive action if we are to secure jobs, restore confidence and reinvigorate growth," Brown said yesterday.
Besides leaders from G20 nations, Chair of the New Partnership for Africa's Development (NEPAD), the Chair of the Association of South East Asian Nations (ASEAN) and the President of the EU Commission have also been invited for the summit to be held here on April 2.
The Chairman of the African Union Commission will also attend. This is the second meeting of the grouping after the one in Washington on November 15 hosted by the then US President George W Bush.
"To be effective in addressing this global crisis we have to bring in partners from across the world. For that reason I have issued invitations to the leaders of G20 countries and the Chairs of NEPAD, ASEAN and the African Union will ensure their interests are not forgotten and their voices are heard," Brown said.
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Taliban pose danger to US, Pak & India, admits Zardari
US Special Representative to Afghanistan and Pakistan, Richard Holbrooke, who is just back from Pakistan, told CNN: "He (Zardari) doesn't disagree that the people who are running Swat now are murderous thugs and militants and they pose a danger not only to Pakistan, but to the United States and India".
US voices strong concerns over Swat truce deal
The United States has conveyed strong concern to Pakistan President Asif Ali Zardari over the truce deal with a Taliban-linked group for enforcing Shariah law in the restive Swat Valley.
President Barack Obama and Secretary of State Hillary Clinton are worried that this deal should not turn into a surrender to the Taliban militants, Special US Representative for Pakistan and Afghanistan Richard Holbrooke told Zardari in a telephonic conversation on Thursday.
In an interview to Wolf Blitzer of the CNN, Holbrooke said that he expressed the US concern over the peace deal as it gives the Taliban the authority in a critically important part of the country.
"It's hard to understand this deal in Swat, the area you're talking about, less than 100 miles from the capital in Islamabad. President Zardari says it's an interim arrangement while they stabilize the situation," he said.
"He (Zardari) doesn't disagree that the people who are running Swat now are murderous thugs and militants and they pose a danger not only to Pakistan, but to the United States and India," Holbrooke said.
When specifically asked by Blitzer if Zardari gave him any commitment, Holbrooke said: "That I don't know. But the issue isn't whether he signs the deal or not, the issue is the negotiations themselves." Over the US' concern that the deal might turn into a surrender, "President Zardari has assured us that's not the case. He is sending a very high level delegation, including the Foreign Minister. Several senior military officials, General Kayani will be in town, the head of ISI will be in town next week, the Afghans are sending their group," he said.
"I can assure you, and President Zardari knows this, that this will be the top initial subject of conversation," he said.
Holbrooke said the increase in US troops in Afghanistan would turn the tide. "But I cannot tell you for sure what will happen after that because there are many other variables. This is a war that includes political components, military components, and the president has asked us to give them a full-scale strategic review, which we're doing now," he said.
"We are going to try to revamp strategy in a way that upgrades the civilian and economic and reconstruction components. Above all we've got to deal with Pakistan. We have to stem the deterioration in the tribal areas," Holbrooke said.
As the Obama Administration is currently doing a review of its Afghan policy, Holbrooke said the increase in troops is compatible with where the strategic review is going. Next week the governments of Pakistan and Afghanistan are sending very significant delegations to participate in the strategic review. "I think that's moving forward very rapidly," he said.
Port, dock workers threatens strike
Mumbai Port and Dock workers have threatened an indefinite strike from March 10 to press for wage revision and other benefits.
"It is unfortunate that during the last two years after the constitution of the Bipartie Wage Negotiation Committee Settlement has not been arrived at on the Charter of Demands of Port and Dock workers because of the attitude of the Port Management," All India Port and Dock Workers' Federation president said in a release.
"We have done everything we can to avert this strike but the Indian Ports Association has not responded to the constructive approach of the Federations in an adequate manner by offering a reasonable wage increase," Kulkarni said.
Satyam board meets to discuss CLB's nod
The board would discuss the CLB's approval and consider induction of a strategic partner in the IT company, Satyam Chairman Kiran Karnik has said on Friday.
A number of suitors, including engineering giant Larsen & Toubro and Spice Group, have evinced interest in acquiring stake in the fraud-hit IT company.
FBI will visit Pak to investigate Mumbai attacks
Islamabad A team of the US Federal Bureau of Investigation is expected to visit Pakistan next week to follow-up the findings of the probe conducted by Pakistani authorities into the Mumbai terror attacks.
The visit by the seven-member FBI team has been cleared by the Foreign Office, diplomatic sources said today. The team will interact with Pakistani law enforcement officials to discuss the findings of their probe into the Mumbai incident, informed sources.
The FBI is also expected to question the six suspects detained by Pakistani authorities in connection with the attacks, the sources said. These suspects include Lashker-e-Taiba operatives Zakiur Rehman Lakhvi, Zarar Shah and Hamad Amin Sadiq.
Interior ministry chief Rehman Malik had last week said Pakistani authorities had filed formal charges against nine suspects, including Ajmal Amir Kasab, the lone terrorist captured in India for the attacks. He said six of the eight other suspects had been detained while two are still at large.
Malik had also acknowledged that part of the conspiracy behind the Mumbai incident was hatched on Pakistani soil.
The FBI has played a key behind-the-scenes role in the sharing of information uncovered by Indian and Pakistani investigators.
The FBI also has a sizeable presence in the US embassy in Islamabad and it is believed that some of its officials have conducted preliminary inquiries in Pakistan, including in Kasab's village of Faridkot in Punjab province.
Islamabad last week handed over to New Delhi the findings of its probe conducted on the basis of information provided in the Indian dossier on the Mumbai attacks.
Pakistan's nine-page response includes the findings of its probe and 30 questions seeking information from India. Diplomatic sources said the information provided in the Indian dossier had been used by Pakistani security agencies to round up suspects and gather vital evidence.
In one case, GPS coordinates and phone numbers provided in the dossier helped Pakistani sleuths locate two houses in Karachi that were used by the attackers.
Both these houses were located after extensive surveillance and in one of them, officials found a dinghy that was used by attackers for training at sea, the sources said.
A judge has so far remanded four of the suspects, Lakhvi, Shah, Sadiq and Abu al Qama, to the custody of the Federal Investigation Agency till March 3.
While seeking their remand, police officials and a special public prosecutor told the judge that they were all active members of the LeT. The officials also told the judge that they were all involved in the Mumbai attacks and Lakhvi was their commander.
All four men have been charged under the Anti-Terrorism Act, Pakistan Penal Code and Prevention of Electronic Crimes Ordinance.
Black Cats will find a second home today
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Sabyasachi Bandopadhyay
On Thursday, NSG director J K Dutt will be in the city to take a final call on the site — two NSG teams have already visited Kolkata this year and have homed in on two sites — for a small hub near the airport that will station one squadron of commandos (about 120 people) meant mainly for anti-highjack operations. NSG teams have already checked out some locations for a second, bigger hub in the state.
During the earlier visits, the NSG teams were said to have been keen on Khaikhali, which is around five-minute drive from the airport. Dutt will likely visit the spot after a meeting with senior government officials, including Home Secretary Ardhendu Sen.
“The NSG is keen on setting up the small unit first to house a small contingent meant specially for tackling plane highjacking. I hope they start construction as soon as they get it,” Sen said.
“They were shown two sites, both having 15-20 acres of land and both a five-minute drive from the Dum Dum airport. On one site, there were some encroachments like playgrounds but the other at Khaikhali was free from all encroachments and the team told us they liked that one,” a senior state government said.
The NSG is going to set up two units —- a big one which will be set up in the model of the one at Manesar in Haryana and a small one near the airport where a tiny contingent of the elite commando force will be stationed for emergency use. For the bigger unit the NSG requires about 1,200 acres of land.
On January 19, an NSG team came on its first visit to the city and they were shown two sites for the bigger unit — Kalaikunda in West Midnapore district and Panagarh in Burdwan district. Both are defence land. The government has earmarked another 1,200-acre land at Barrackpore, which is also on defence land.
After the 26/11 terror attacks in Mumbai, the Central government decided to set up NSG hubs in four metro cities. While Kolkata and Mumbai have already been finalised, the Home Ministry is yet to decide on the two other cities where the NSG units will be set up.
http://www.expressindia.com/latest-news/Black-Cats-will-find-a-second-home-today/425936/
Cops issue shoot-at-sight orders in Tamil Nadu
District SPs have been empowered to carry out the order, a release from the DGP's office said last night. Appropriate action would be taken against those who trying to damage vehicles or involve in other illegal activities, it said.
"Some anti-social elements were using Thursday's incidents to damage public property and burn vehicles", the release said, adding strict action would be taken against them.
The clashes between the advocates, agitating on Sri Lankan issue, and police broke out on Thursday over arrest of some lawyers accused of assaulting Janata Party president Subramanian Swamy in the court. A judge and many police personnel besides advocates were injured in stone pelting and subsequent police baton-charge.
Attempt to murder cases were filed on Friday against 150 advocates in the aftermath of the violence in Madras High Court premises.
Strays incidents of violence by lawyers in protest against police action against their colleagues were reported across the state yesterday.
Multi-crore land scam: tehsildar, patwari booked
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Anju Agnihotri Chaba
“Names of three colonisers have come under the scanner and action may be taken against them,” said a senior VB officer. Former ADC Bhavna Garg, through an order dated March 22, 2006, had directed that ‘nazool’ land could not be sold.
SSP VB Dilbagh Singh said the accused would be arrested on the completion of the probe.
http://www.expressindia.com/latest-news/Multicrore-land-scam-tehsildar-patwari-booked/288790/
Above law: Recovery agents flex muscles for loans
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RAGHAV OHRI
Posted: Nov 28, 2007 at 0000 hrs ISTChandigarh, November 27 Flouting all rules, the recovery agents, who are never made employees of the bank, are used as pawns in order to recover the pending payments.
When found guilty of taking the law in their hands, the banks wash their hands off these ‘pawns’ who face the music in the end. Instead of approaching the Court and proceed legally, the banks prefer to employ agents to ensure speedy recovery.
Expressing concern over the trend, the Supreme Court has given a detailed list of factors, reasons and suggestions over the issue. “The banks cannot employ goondas to take possession by force,” the Supreme Court has held in its recent judgment.
The issue of banks employing alternate means of recovery other than due process of law ie either through Courts, Tribunals, Adalats or Commissions, is an issue that has to be viewed from two angles- the common man’s, and from the angle of the bank.
First of all, the entrance of the multi national banks into the country has spread the culture of credit cards, loans at an unimaginable level where rather than the rich, it is the middle class, lower middle class and lower class who are at the receiving end of the bonanzas promised by banks.
The first mistake here is on part of the banks who do not believe in educating the masses regarding the promises. Once the credit card or loan is taken and there appears a default, the witch-hunt begins.
Now the bank is the aggressor and the public is the victim. The first step to recovery of the money due is through the so called Recovery/Collection agents.
A man’s self respect, stature in society are all immaterial to the agent who is only looking at recovery. This is the modernised version of Shylock’s pound of flesh. No explanation is given regarding the interest charged and the bank takes cover under the guise of the holder of the card or loan, having signed the agreement whose fine print is never read or explained to the owner.
When a harassed man approaches the Court or the police station, he is not armed with a recording phone and finds it difficult to give evidence of the abuse he has suffered. Here, the bank gets away with everything.
The stance taken by the bank in any suit alleging such incidents is that no such agent was ever appointed by them or their agents do not misbehave in the manner aforesaid and if found guilty the agents have to bear the brunt and the bank gets away scot free.
Taking it from the common man’s viewpoint, the inflow of software money and high salaries has resulted in uncontrolled expenditure. To maintain one’s image, one pays the price of utilising the card without realising that even a single day’s delay in payment results in an extra payment of Rs 100 to 200.
Suggestions
It is mandatory that the banks be held vicariously liable for the actions of such agents. These agents have to be identified as registered agents of the bank and should be bought under the purview of the RBI.
The recovery agents should be made employees of the bank and the bank should account directly for all actions taken by these employees.
Also, every statement sent by the bank should disclose clearly the rate of interest and the default interest and penalty charges calculated separately and added to the amount pending by the customer.
At the very first month of default, the card should automatically be terminated by the bank to prevent further use/misuse. At the time of issuance of the card, the issuance letter should contain every single charge being made, explained in simple terms and the penalty the customer will bear for non-payment.
The agents should be responsible for background check on the person to whom the card is issued and the defaulter should be made liable along with the agent. This would ensure that the agent does not source an illegal or fraudulent customer.
Hire purchase
Many banks have extended liberal credit facilities for purchase of vehicles, whether two wheelers or four wheelers, more the number, the targets are achieved. This results in a certain amount of default cases. The default can be two fold- genuine and fraudulent.
Both, in the case of genuine and fraudulent, the method usually adopted by these institutions is to engage thugs/hooligans/gangsters for recovery of the vehicle. They seize the vehicles even in public places deliberately to cause embarrassment. There is no codification till date.
The delay in the Courts and the ineffective and corrupt police structure enables the bank to seek the help of such agencies which proves to be cost effective and less cumbersome.
Abolition of the system is not the answer but effective control over the agency by the respective banks is essential.
Comments
“We receive over dozens of complaints against the banks stating their recovery agents have misbehaved. It is generally seen that the recovery agents flout all the rules and the banks do not follow the procedure” said a senior police officer.
However, A K Ahuja, chief law officer, State Bank of Patiala states, “This is not correct. We strictly follow the law laid down. The recovery agents are trained and informed about all the do’s and don’t’s. Generally, such misconducts are done by recovery agents employed by private banks.”
“The recovery agents should be trained, and certain educational qualification imparted to them along with workshops on personality by a nodal agency of the state. Such courses can be started by universities etc,” suggested Advocate Gaurav Deep Goel.
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25 Dec 2008 ... All this chaos, genocide, ethnic cleansing and disaster we see in this world have a genuine purpose. It is all very carefully planned by a ...
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OCZ Intros Alchemy Illuminati Keyboard - 19 Feb 2009 OCZ has announced a new gaming keyboard series named Illuminati under their Alchemy line of products. The Illuminati series of keyboards will have a stylish ...Techtree.com - 19 related articles »
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