Connect with us

Business

IDBI Bank employees to strike work on Oct 24-25

Published

on

IDBI-WEFORNEWS
File Photo

Chennai, Oct 13, 2017: Employees of the IDBI Bank will strike work for two consecutive days (October 24 and 25) demanding long pending wage revision, said All India Bank Employees’ Association (AIBEA).

Wage revision for employees and officers of IDBI Bank is due for the period from 1-11-2012 to 31-10-2017 on the lines of the settlement in all other banks.

In the case of all other Banks, not only wage revision was settled in May, 2015, with effect from November, 2012, the negotiation for the next wage revision due from 1-11-2017 was also underway.

“But it is most regrettable and deplorable that the management of IDBI Bank has been delaying the issue unwarrantedly,” AIBEA said in a statement.

According to AIBEA, its units in IDBI Bank — All India IDBI Officers Association and All India IDBI Employees Association — have decided to strike work for two days in October.

“It is most unfortunate that at a time when the Bank is suffering from huge bad loans due to Himalayan mismanagement, instead of taking the entire workforce together in redeeming the Bank to better health, the management is trying to victimise and penalise the staff by denying their legitimate wage revision,” the AIBEA said.

Business

India’s Forex reserves deplete by over $734 mn

Published

on

India-s-forex

Mumbai, July 20 (IANS) India’s foreign exchange (Forex) reserves depleted by $734.5 million during the week ended July 13, official data showed on Friday.

According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the overall forex reserves declined to $405.08 billion from $405.81 billion reported for the week ended July 6.

India’s forex reserves comprise of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and the RBI’s position with the International Monetary Fund (IMF).

Segment-wise, FCAs — the largest component of the Forex reserves — decreased by $789.1 million to $380 billion during the week under review.

Besides the US dollar, FCAs consist of nearly 20-30 per cent of major global currencies.

As per the data, the value of the country’s gold reserves rose by $75.4 million to $21.12 billion.

The SDRs’ value inched down by $7.8 million to $1.48 billion, while the country’s reserve position with the IMF slipped by $13 million to $2.48 billion.

Continue Reading

Business

Equity indices end in green, Nifty closes over 11,000 mark

Published

on

SENSEX NIFTY MARKET

Mumbai, July 20: The key Indian equity indices closed in the positive territory on Friday riding on the Central government’s confidence of winning the trust vote in Parliament, analysts said.

Healthy buying activity was witnessed in IT, capital goods and healthcare stocks, they said.

However, gains were arrested by a depreciation in the Indian rupee. The rupee, earlier in the day touched an all-time low of 69.12 per dollar.

Index-wise, the broader Nifty50 of the National Stock Exchange (NSE) provisionally closed at 11,010.20 points (3.30 p.m.) — higher by 53.10 points or 0.48 per cent — from its previous close of 10,957.10 points.

The barometer 30-scrip Sensex on the BSE, which had opened at 36,377.03 points, closed at 36,496.37 points (3.30 p.m.) — up by 145.14 points or 0.40 per cent — from its previous session’s close of 36,351.23 points.

Sensex has so far touched a high of 36,567.34 points and a low of 36,335.61 points during the intra-day trade. The BSE market breadth, however, was tilted towards the bears with 1,411 declines and 1,148 advances.

The major gainers on the Sensex were Sun Pharma, Infosys, Reliance, ICICI Bank and Axis Bank, while Bajaj Auto, Vedanta, Hero MotoCorp, ONGC and Kotak Mahindra Bank were among the major losers.

IANS

Continue Reading

Business

Weak rupee, global cues depress equity indices; capital goods stocks fall

Published

on

SENSEX-

Mumbai, July 19: Depreciation in the Indian rupee coupled with decline in the global markets subdued the key Indian equity indices on Thursday.

According to market observers, heavy selling pressure was witnessed in capital goods, healthcare and IT stocks.

At 3.30 p.m., the wider Nifty50 on the National Stock Exchange provisionally closed at 10,957.10 points, lower by 23.35 points and 0.21 per cent from the previous close of 10,980.45 points.

The barometer 30-scrip BSE Sensex, which had opened at 36,509.08 points, closed at 36,351.23 points — lower by 22.21 points or 0.06 per cent — from its previous session’s close of 36,373.44 points.

It touched an intra-day high of 36,515.58 points and a low of 36,279.33 points. The BSE market breadth was bearish with 1,738 declines against 831 advances.

The top gainers on the Sensex were Vedanta, Yes Bank, ITC, Bharti Airtel and Adani Ports whereas Kotak Mahindra bank, Larsen and Toubro, Hero MotoCorp, Tata Steel, Coal India were the top losers.

IANS

Continue Reading
Advertisement

Most Popular