Category Archives: PSU

IDBI Bank employees protest against privatisation

28 Saturday Nov 2015

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IDBI Strike

Over 30,000 employees of IDBI Bank  organised  one-day strike on 27th November 2015 protesting  government’s move  to privatise the Bank.

The employees organised the programme as per the call of  of United Forum of IDBI Officers and Employees, supported by All India Bank Officers Association.

At present, the government holds 76.5 per cent stake in IDBI Bank.

The government indirectly controls 29.19 per cent in Axis Bank through the administrator of the Specified Undertaking of the Unit Trust of India (SUUTI), Life Insurance Corp and four other public sector general insurance companies.

“We are against the government plans to sell its stake to private players. It wants to achieve its disinvestment target of Rs 69,500 crore through this,” union stated. (Courtesy: PTI)

BSNLEU CEC Demands Wage Revision

26 Thursday Nov 2015

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Central Executive Committee of BSNL Employees Union, held at New Delhi on 24-25 November 2015 has demanded the BSNL Management to start the wage revision process. In Banks, LIC etc. five year wage revision has started / agreement reached. The DPE has agreed to issue instructions for forming of III Pension Revision Committee for executives of the PSUs.

NPA of Public Sector Banks increased to Rs. 2.6lakhs

23 Monday Nov 2015

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It is almost incredible. The 19 Public Sector Banks in the country are having Non-Performing Assets (NPA) of Rs. 2.6 lakhs as in September 2015. NPA means bad loans which are not repaid so far. The NPA in March 2015 was Rs. 2.3 lakhs.

These bad loans are mainly given to corporates and big business. The name of almost every big corporate house and big business concern are in the list of defaulters. They are given hundreds of crores of rupees as loan and they are not repaid. While, the banks take strong action to recover amount from the common man who takes loan, no such action is taken against  the big fish.

On the one side the banks are crying about NPA, but again more and more such loans are given, resulting in the increase of the NPA.

Mass Casual Leave by RBI Staff on 19th November 2015

20 Friday Nov 2015

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Mumbai, Nov 19 : Normal banking operations and bond market volumes took a hit today as the one-day “mass casual leave” by over 17,000 RBI employees affected the payment and settlement activities even as RBI said normalcy was restored.

The central bank’s staff had gone on one-day leave to press for better retirement benefits and restoring the RBI’s powers on monetary policy and public debt management.

The ‘Mass Casual leave’ was a good success. The RBI should discuss and settle the issues with out delay. (Courtesy: Ganashakti)

 

BRPSE on the way out?

17 Tuesday Nov 2015

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The government is considering a proposal to dissolve the Board for Reconstruction of Public Sector Enterprises (BRPSE), Heavy Industries Minister Anant Geete said on Tuesday.

“We are in discussions to create a new entity for sick PSUs,” he said on the sidelines of a Confederation of Indian Industry (CII) function. (Courtesy: ET)

Govt. plans to sell PSUs – HMT, Tungabhadra Steel Limited.

14 Saturday Nov 2015

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The government seems to be in a move to sell the loss making HMT and Tungabhadra Steel Ltd. It is reported in the press that the government is proposing to sell profitable PSUs also after the loss making PSUs are sold.

It is well known that,in order to close or sell the PSUs, the government, the owner itself, takes measures that will make even profitable PSUs to loss making. Take the case of ITI, BSNL, MTNL etc. All of them have become loss making only due to the anti-PSU policy of the government, whether UPA or NDA. In destroying PSUs both of them are in the same camp. Only that NDA government is more aggressive in the matter.

RBI staff will be on Mass Casual Leave on 19th November 2015

13 Friday Nov 2015

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Protesting against the government move to take over several functions of the RBI and also demanding periodic pension revision, the United Forum of Reserve Bank Officers and Employees has called upon the employees and officers to go on Mass Casual Leave on 19th November 2015. The government is trying to take over reduce the authority of the RBI by taking its powers. The RBI pensioners are not getting any pension revision and hence receiving only pension fixed at the time of retirement.

The agitation programme is fully justified and is to be supported.

Air India to start Aviation University

02 Monday Nov 2015

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Air India, Central PSU, is proposing to start an Aviation University at its Centre Training Establishment (CTE), Hyderabad.

Spread over 20 acres of land, the nearly 60-year old premium aviation training institute currently offers courses in all aspects of aviation including for pilots, cabin crew, engineers, aviation security and ground handling among others. The Aviation University will be opened with upgrading of these facilities.

 

 

 

Air India will purchase 25 more air-crafts for rural area services

02 Monday Nov 2015

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In an expansion plan and to extend the services to rural India, the Air India, a Central PSU, has decided to purchase 25 air crafts. This will benefit the PSU in its reaching the interior of the country.

Bonus declared for for Singareni Collieries Workers

02 Monday Nov 2015

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Bonus for the workers of the Singareni Collieries, PSU in A.P. has been declared. The Bonus will be Rs. 48,500 for each. An amount of Rs. 260 crore will be the total payment towards bonus by the company.