SBI has decided to appoint only 75% of new recruits instead of retiring employees for the next 5 years
State Bank of India, the country's largest bank, has decided to appoint only 75 percent of new employees in place of retiring employees for the next 5 years. This means that 25 percent of jobs in the bank will be reduced. At the beginning of the financial year 2018, the bank started the recruitment process of only 10,000 people, instead of retiring 12,000 people. This reduction is being explained as the increasing penetration of technology (technology).
Benefits of unemployment found in the country
A senior bank official told that due to lack of job position in the country, he is getting the best candidate for various posts. According to this, the State Bank of India received applications of 28 lakh people for 8,000 posts of clerk in the last two years. As a clerk, about 80 percent of the candidates are either MBAs or engineering skills.
Bank Deputy Managing Director and Corporate Development Officer Prashant Kumar said, "It is very good for us. At the clerical level, we are getting good people, who are well-acquainted with technology and other things. "He further said that progress in these people's career is also increasing rapidly. After joining the service as a clerk, most of them will be involved in internal examinations for promotions as officers.
Worldwide, banks are changing their style of functioning in view of technical development. The UK's leading HSBC has decided to halve its network in the country. Apart from this, Standard Chartered Bank has closed its 200 branches by looking at automation.
Swadeshi Jagran Manch demanded that all the Chinese companies and Chinese app in India should be banned
The Swadeshi Jagran Manch of the Rashtriya Swayamsevak Sangh has written a letter to PM Modi asking to ban Chinese social media app like Tik Tok and remove it from all mobile phones. Stating that China, which did not help in declaring Masood Azhar, chief of Jaish-e-Mohammed as a Global Terrorist, has said that China is "enemy country" and said that all Chinese companies and Chinese app in India should be immediately punished.
This statement of the Swadeshi Jagran Manch has come four days after the martyrdom of 40 CRPF personnel in Kashmir. In its letter to PM Modi, the organization has said that it is the responsibility of all Indians to stop the economic benefits of any country or person who directly or indirectly supports the terrorists.
The Swadeshi Jagran Manch said, "At this time we believe that the government is obstructing the way in Chinese companies in the same way, which are using India for their benefit. As is often said that the data is now a new oil, therefore, we should not allow Chinese companies to get the Indian user without any interference or monitoring. '
Significantly, the Indian government has also proposed to bring such a policy recently, to make the moderator app easier to make content sharing easier on social media platforms. This will impact China's many social media apps, which are quite popular among the country's adolescents.
One such popular app in the teenagers, Tik Tok, has around 20 million users in India, while its total user in the world is 50 million. In the last few years, the expansion of Chinese social media and e-commerce companies in the country has grown exponentially and knowledge-makers do not consider it as justified in national security terms.
The Swadeshi Jagran Manch has written in its letter, "We have to ensure that due to such Chinese companies, Indian startup should not be damaged. Chinese companies have plenty of cash and because of this, they can harm the system of Indian startup. Not only this, but they can also threaten our data sovereignty and our national security.
The organization said that the Indian government will also have to curb the business of Chinese telecom companies in the country. According to this, Chinese companies have acquired many important and sensitive 4G contracts in India and are now trying to make a place in the 5G sector. This will increase the risk of security several times.
President of China, will met US officials to improve relations
Between the long-running trade war, US top officials will meet with Chinese President Xi Jinping. Earlier on Thursday, a high-level meeting between the two countries started on the trade front. But no progress has been announced. In such a situation, now everyone's eyes are focused on meeting the US officials and the Jinping.
Before the meeting on Thursday, US President Donald Trump had said that mutual negotiations on business issues with China are doing well. Trump has postponed its plan to take new action of higher import duty on imported goods from China and has given time to negotiate business related issues with the negotiation. They have kept it till March 1. Trump had also said that if there is a lot of progress in the negotiations on the trade front, then that time can be extended.
The Trump Government had postponed the suspension of a new charge against China suddenly in December. Earlier, the US announced an increase in duty on goods worth $ 200 billion imported from China. Together, the two countries have already raised fees on different types of goods of $ 360 billion. If the two sides fail to resolve the differences before March, then the US will increase the existing 10 percent tariff on Chinese products to $ 25 billion, up to 25 percent. In this way, the dispute will reach the next level.
Due to the trade war between US-China, the International Monetary Fund (IMF) last year warned that this would make the world pale. The IMF described the trade war as dangerous for the global economy.
BT MindRush 2019: Offline and online markets will continue to exist together
Offline and online markets will compete with each other and in this way, the further journey will continue. Addressing the 'Brick VS Click' session on Thursday in Business Today's Annual Leadership Summit Mind Rush 2019, McMaytrip CEO Rajesh Mago said this. Apart from this, many other corporate leaders of the corporate world also addressed this session.
Rajesh Mago said, 'It will be important for you to further improve the experience of customers in every possible way.' The Business Today Mindshare Program is a business-based event organized by India Today Group. This summit provides a platform for the exchange of views between the leaders of the international level and the Indian industry, to prepare the management thinking and business strategies. The program is being organized on Friday, February 14th.
Addressing the session, Spencer's Retail Manager, Devendra Chawla said, "To remain together online and offline, it is essential that the focus remains on the customers." Coaching and Trainer David Wood said about increasing productivity, "We live in our comfort zone because we are afraid to look different."
Regarding competition from the online world, Farhalco's CEO Ajit Karimpana said, "The plate is getting bigger and the size is so big that we can all eat it. He said that online markets are becoming competitive for retail stores.
Prior to this, Raj Chengappa, Group Editorial, India Today Group, said, "John F Kennedy had said that leadership and learning are different from each other. A leader does not only have to take any action but for those for whom he is working, he should also see this step. He said the leaders should share their credits with their team and encourage others.
Sandeep Agrawal, founder, and CEO of Droom said that any entrepreneur should be prepared to dismiss his proposals. Clovis Co-Founder and Director Neha Kant said that entrepreneurship is a kind of thinking. IKEA's India CEO Peter Batzel said, "With the new phases coming in the smartphone, we have to change ourselves."
The program started with around 10 am at the meeting of Group Editorial Group of India Today Group, Raj Chengappa with Wellcome Speech. At 6.00 pm, Arun Puri, Chairman, and Editor-in-Chief of India Today Group will give Wellcome Speech. The program will include all the corporate leaders, including Union Ministers Nitin Gadkari, Montek Singh Ahluwalia, Rajat Kaduriya, Sanjeev Sanyal and Ajay Shah. In the evening, the Business Today BEST Awards Awards will also be held.
RBI has imposed a fine on 7 banks for violating banking rules
The Reserve Bank has imposed a fine on 7 banks, including HDFC Bank, for violating various banking rules. Among the fines imposed by the Reserve Bank include Allahabad Bank, Bank of Maharashtra, Indian Overseas Bank, HDFC Bank, and Kotak Mahindra Bank. According to the information given by RBI, a penalty of Rs1.5 crore has been imposed on Allahabad Bank, Bank of Maharashtra and Indian Overseas Bank.
These banks did not follow guidelines on monitoring the final use of capital and for sharing information with other banks. Apart from this, various instructions such as information about fraud and restructuring of accounts were also ignored. Among those who violated these rules, Andhra Bank is also involved. Andhra Bank has imposed a penalty of Rs 1 crore. At the same time, the RBI has imposed a penalty of 20-20 lakh on all HDFC Bank, IDBI Bank, and Kotak Mahindra Bank. These banks are accused of not complying with the guidelines on anti-money laundering (AML) standards and KYC.
Recently, the Reserve Bank has imposed a fine of Rs 1 crore on the State Bank of India (SBI). According to SBI, the Reserve Bank has imposed a fine on not monitoring the use of money given to a borrower. However, the bank did not disclose the name of the said borrower and the amount of loan given. In the same month, UCO Bank, Axis Bank, and Syndicate Bank have been fined for violation of rules in different cases.
Private sector Axis Bank is fined a total of 2.2 million rupees for violation of rules in two separate cases. At the same time, a penalty of 2 crore rupees on UCO Bank and a fine of Rs. 1 million on Syndicate Bank. UCO Bank and Axis Bank have been accused of not complying with the rules related to payment through checks on banks. While fines on Syndicate Bank have been imposed for violation of fraud and guidelines related to risk management.