Com.V.A.N.Namboodiri, President, BSNLCCWF today, 24-11-2016, met Shri J.S.Deepak, Secretary DOT and pointed about the non-implementation of gratuity to Casual workers, who are continuously working for years together. Though the Managing Committee of BSNL has approved the same, BSNL Board is yet to approve causing undue hardships to the concerned workers. Com.Namboodiri requested the Secretary to ensure that BSNL Board take the decision early. Secretary was much sympathetic to the issue. He  advised me to meet the Additional Secretary, who is the DOT nominee in the Board. As Addl. Secretary was on tour, meeting will take place after his return.

Post demonetisation, the SBI has reduced the Bank Deposit rates by 1.9 %. This reduction will  adversely affect the saving accounts of ordinary people.
One more attack on the people!

The CAG  in his report had criticised the central Government and Income Tax Department for waiving tax for Reliance and other companies. The major beneficiary is Reliance with a waival of Rd.5245.38 crore for the period from 2006-07 to 2011-12. According to CAG there was no justification for waival.

MNCs and Corporates get tax exemption; ordinary people are put in jail if tax is not paid!

In an unprecedented move, Larsen and Toubro, one of the largest Engineering Company in India has retrenched 14,000 employees, more than 11% of its total workforce, in a move to “right size” the number of employees, according to the management. The reason mentioned for the retrenchment is stated due to business slow down.
This is the reason the corporates always says in time of retrenchment.

The employees work hard and the company gets good profit. But the management has no qualms to retrench them on flimsy grounds. I am sure that the L and T Unions will fight out for their reinstatement.

It was disclosed in the Parliament on 22nd 9November 2016 by Minister of State for Finance Santhosh Kumar Gangwar that 2,071 industrialists owned Rs.3.89 lakh crore to various banks in the country.
What action is being taken to recover the amount is not known. According to the Minister the  concerned banks have to take action.
In fact, the complicity of the corporates, top management of the banks, political leaders of ruling parties and government  can not be dismissed.

The banks and government have to take strict and swift action to recover the money from the corporates.