Brace for a 2-day nationwide trade unions' strike

February 20, 2013

Brace_india

New Delhi, Feb 20: The financial and transport sectors are likely to be hit as the nation braces for a two-day strike called by major trade unions protesting against high prices, unemployment and the labour policies.

The government on Tuesday issued a fresh appeal urging bank employees not to join the strike called by various trade unions on February 20-21.

Prime Minister Manmohan Singh had earlier appealed to the trade unions not to go on strike while senior government ministers had explained to them the steps taken by the government to contain price rise, ensure employment generation and enforcement of labour laws.

"The central government is disappointed to note that a section of the bank employees has decided to join the strike called by certain trade unions on February 20-21, 2013," a government statement said.

Industry bodies have estimated a loss of Rs 20,000 crore from the 48-hour strike while trade union leaders have defended their move by saying that "social loses that have accumulated are so huge that we have been compelled to call the strike".

The trade union leaders, who held a meeting with three ministers — labour minister Malikarjun Kharge, defence minister A K Antony and agriculture minister Sharad Pawar - on Monday night, have accused the government of being "totally non-serious" about working out ways for the strike to be called off.

"They had absolutely nothing to offer," said AITUC general secretary and CPI leader Gurudas Dasgupta who was present at the meeting. "It was clear that the government was not serious in resolving any issue from the fact that the most important minister ( finance minister) P Chidambaram, who was supposed to be present, skipped the meeting," he added.

Blaming the government for anti-people economic policies and price rise, especially fuel, Dasgupta said, "If the government does not meet out demands even after the strike, we will opt for other measures like mass hunger strike, sectoral strikes, long drawn agitations to intensify our protest."

While he admitted that Delhi has never responded to the strike call in the past, the expectation is not high this time either. He is also sceptical about West Bengal where there could be clashes since the Left is supporting the strike but the Mamata Banerjee government is opposed to it.

On Tuesday, a day before the 48-hour strike, Dasgupta said that in coal fields of West Bengal, Jharkhand and Odisha, the contract labour at the mines had already gone on strike.

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Agencies
May 4,2020

Mumbai, May 4: Days after Facebook, private equity firm Silver Lake said it will invest 56.56 billion rupees ($746.74 million) in Reliance Industries's digital arm, giving it a valuation of 4.90 trillion rupees. Silver Lake on Monday agreed to pay Rs 5,655.75 crore to buy 1.15 per cent stake in the firm that houses billionaire Mukesh Ambani's telecom arm Jio.

The investment in Jio Platforms comes within days of Facebook investing USD 5.7 billion to buy a 9.99 per cent stake in Jio Platforms. The investment is at a premium of 12.5 per cent to the Facebook deal.

"This investment values Jio Platforms at an equity value of Rs 4.90 lakh crore and an enterprise value of Rs 5.15 lakh crore and represents a 12.5 per cent premium to the equity valuation of the Facebook investment announced on April 22, 2020," Reliance said in a statement.

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Agencies
March 16,2020

New Delhi, Mar 16: Chief Justice of India Sharad Arvind Bobde on Monday said that rules for preventing overcrowding in the courts to avoid the spread of coronavirus cannot be relaxed for journalists alone on the basis of profession.

"Can't make an exception on the basis of profession," CJI Bobde said while asking journalists to share information and notes and suggesting that a system can be put in place to facilitate daily media briefing by Secretary-General.

Video conferencing facility being contemplated may be brought into place but not sooner than one week from now and reporters may take turns to attend hearings, CJI Bobde said.

He said that the court does not wish to prevent any reportage.

Attorney General KK Venugopal and Solicitor General Tushar Mehta informed the Chief Justice of India about the crowded corridors on account of restricted entry inside courtrooms.

CJI Bobde said that he himself wishes to assess and take stock of the situation and may do so tomorrow at 10.30 am.

This comes after the top court introduced several precautionary measures to prevent the spread of coronavirus and allowed only restricted entry of lawyers, litigants, and journalists in the courtroom.

Thermal-screening of the lawyers, litigants, and media persons were also conducted in the Supreme Court on Monday amid coronavirus fears.

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News Network
March 16,2020

New Delhi, Mar 16: Reliance Group Chairman Anil Ambani has been summoned by the ED in connection with its money laundering probe against Yes Bank promoter Rana Kapoor and others, officials said on Monday.

They said Ambani was asked to depose at the Enforcement Directorate office in Mumbai on Monday as his group companies are among the big entities whose loans went bad after borrowing from the crisis-hit bank.

The officials said Ambani, 60, has sought exemption from appearance on some personal grounds and he may be issued a new date.

Ambani's group companies are stated to have taken loans of about Rs 12,800 crore from the bank that turned NPAs.

Finance Minister Nirmala Sitharaman had said in a March 6 press conference that the Anil Ambani Group, Essel, ILFS, DHFL and Vodafone were among the stressed corporates Yes Bank had exposure to.

Officials said promoters of all the big companies who had taken large loans from the beleaguered bank which later turned bad are being summoned for questioning in the case to take investigation forward.

Ambani's statement will be recorded under the Prevention of Money Laundering Act (PMLA) upon deposition, they said.

Kapoor, 62, is at present in ED custody after he was arrested by the central probe agency early this month.

The ED has accused Kapoor, his family members and others of laundering "proceeds of crime" worth Rs 4,300 crore by receiving alleged kickbacks in lieu of extending big loans through their bank that later turned NPA.

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