-The New Indian Express There were also reports that the auto sector has seen 3 lakh crore jobs being lost. NEW DELHI: TAKING notice of daily reports on job losses, the Union Finance Ministry has asked business chambers and industries to produce the exact number of job cuts to derive the correct picture of the economy. It has asked the industries to abstain from causing panic. “There are a number of reports that...
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RTI reveals Kolhapur floods caused by tampering with technically established flood lines to please builders -Vinita Deshmukh
-MoneyLife.in The flood havoc in Kolhapur and Sangli districts has killed 54 people and thousands of cattle, besides causing colossal loss of property, farmlands and crops. Was it the ferocity of nature that caused such a great calamity or did human interference aggravate the situation? RTI documents reveal that tampering of the red and blue line demarcation of the Panchganga River in the Kolhapur Development PLAn, due to the pressure of the...
More »Biscuit-maker Parle says it may have to sack 8,000 to 10,000 workers amid slowdown in sales
-Scroll.in The company said higher taxes in the GST system had forced it to increase prices. It caused consumer demand to fall. Biscuit maker Parle Products Private Limited on Tuesday said it may lay off almost 10,000 employees if the demand slowdown continues, The Economic Times reported. “We have sought reduction in the Goods and Services Tax on biscuits priced at Rs 100 per kg or below, which are typically sold in...
More »Auto sector slowdown hits scrap dealers, micro units in Coimbatore -M Soundariya Preetha
-The Hindu Production in foundries supplying castings to the automobile industry has dropped considerably In Coimbatore, where a large number of industrial units and foundries are working in the automobile sector, the slump in vehicle demand is impacting several businesses indirectly. A micro industry with just two CNC machines, doing job work, used to earn nearly ?10,000 a week from selling scrap. This income has reduced steeply in the last couple of months...
More »SBI aims to eliminate debit cards to boost digital payment solutions
-PTI SBI Chairman said there are around 90 crore debit cards in the country as against 3 crore credit cards, and pointed out to digital solutions like its own 'Yono' PLAtform as the key for achieving a debit card-less country. Mumbai: If the largest lender SBI has its way, it may herald the beginning of the end of the ubiquitous debt cards from the banking system as the bank PLAns to promote...
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