Normal life hit across Karnataka as transport unions strike work

July 25, 2016

Bengaluru, Jul 25: Normal life was affected on Monday across Karnataka, including the IT capital here, with over one lakh employees of four state road transport corporations commencing an indefinite strike, seeking wage hike.

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As the employees struck work since last midnight, office-goers waiting at bus stops was a common sight across the city, while thousands who had come down to Bengaluru from different parts of the state were seen stranded at Kempegowda bus stand, the city's main bus terminal.

Commuters had started facing trouble since yesterday evening with drivers and conductors not turning up for work.

Similar reports have emerged from different parts of the state. Authorities in several districts have declared a holiday in schools and colleges.

More than one lakh employees of state transport corporations have gone on strike with about 41 demands, including a 35 per cent wage hike, while state government has offered 10 per cent increase.

Several rounds of reconciliatory meetings held between the management of state transport corporations and the unions, even at the level of transport minister Ramalinga Reddy, had failed with both sides sticking to their stand.

"We are still open for discussion with the unions. They have to come for discussion with an open mind. They will also have to understand the financial situation and reconsider their demand of 35 per cent wage hike. We are ready for discussion at the chief ministerial level," Reddy had said.

KSRTC Staff and Workers Federation general secretary and All India Trade Union Congress leader H V Anantha Subbarao said, "The unions are ready for a meeting with Chief Minister. Let him call a meeting. We feel sorry that public are suffering, but our concerns should also be addressed."

Meanwhile, stone pelting on buses was reported from different parts of the state like Hassan, Bengaluru, Ramanagara, Belagavi, Shivamogga, Koppal and Chikkamagaluru.

Transport officials said alternative arrangements are being made by giving temporary contract carriage to private operators during the strike.

In the wake of the strike, public were depending on private and own vehicles for commuting even as several commuters complained that private transporters were overcharging.

Transport officials said they have begun crackdown of private transporters who are overcharging.

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News Network
January 10,2020

Bengaluru, Jan 10: Education technology company Byju’s is learnt to have raised $200 million in a funding round from Tiger Global Management, which has valued the Bengaluru-based start-up at around $8 billion, making it the third-largest unicorn (start-up valued over $1 billion) in the country.

With this, the Byju Raveendran-founded company has seen over 50 per cent jump in its valuation in just around nine months. In March 2019, Byju’s was valued $5.4 billion, when it raised around $31 million from General Atlantic, and Chinese investment giant Tencent.

At the current valuation, Byju’s has now replaced home-grown cab-hailing major Ola as the third-largest unicorn, next only to Paytm and OYO, which are valued around $16 billion and $10 billion, respectively.

Byju’s confirmed the transaction through a press statement, though the company declined to share any specific details of the deal. Tiger Global could not be immediately reached for its comments.

“We are happy to partner with a strong investor like Tiger Global Management. They share our sense of purpose and this partnership will advance our long-term vision of creating an impact by changing the way students learn,” said Raveendran. “This partnership is both a validation of the impact created by us so far and a vote of confidence for our long-term vision.”

This is Tiger Global’s first investment in the edutech space in India after Vendantu, an online tutoring platform, where it, along with WestBridge Capital, led a $42-million round in August.

An early backer of India’s internet growth story, the New York-headquartered Tiger Global has been a prolific investor in the Indian start-up space. Its portfolio in the country ranges from consumer focused e-commerce companies that are vital for the growth of the sector, such as Flipkart, Delhivery, Grofers, Quikr and PolicyBazaar, to mention a few.

After tasting success with Flipkart, one of its earliest investments, where it had pumped in around $1 billion, the PE major is now doubling down its focus on the Indian start-up space, under its new investment head Scott Shleifer.

Shleifer, who set up international private equity practice for Tiger Global, is said to be as aggressive deal maker like his predecessor Lee Fixel, who left the investment firm in March. Since then, Tiger has also invested in a host of technology-focused companies in diverse sectors including Ninjacart, CRED, NoBroker and Facilio to mention a few.

“Byju’s has emerged as the leader in the Indian education-tech sector. They are pioneering technology shaping the future of learning for millions of school students in India,” Shleifer was quoted in the press statement issued by the edutech firm.

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News Network
March 1,2020

Mangaluru, Mar 1: Noted Konkani writer and theater personality Richard John Pais died on Sunday after a brief illness, family sources said.

He was 51. He is survived by wife and two children.

Known in literary circles as ‘RJP’, his short stories, satirical writings, and poems were very popular.

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News Network
May 30,2020

Chamrajnagar, May 30: Karnataka Cabinet Minister Ramesh Jarakiholi said on Friday that over22 Congress MLAs were in touch with him and he can bring five of them.

"More than 22 Congress MLAs are in contact with me and if the high commands wants, I can bring five of them tomorrow," Jarakiholi told reporters.

Replying on speculation that some MLAs in BJP are not happy and want to join the Congress, he said, "Congress is a sinking boat and nobody wants to go to Congress now."

Meanwhile, sources in BJP have said that some party leaders are not happy including Basangouda Ramangouda Patil Yatnal.

Basvanagowda Patil said earlier this week that "BS Yediyurappa is not his CM, he is the CM of Karnataka. My leaders are Narendra Modi and JP Nadda."

The sources also said that other close aides of Yeddyurappa like Umesh Katti and Murugesh Nirani are no longer happy with him as they are yet to be included in the state cabinet.

The sources said Nirani has stood with Yeddyurappa but has not been included in the cabinet. There is speculation that several MLAs are in touch with Nirani.

Sources said Nirani, Umesh Katti, Basvanagowda Patil and several other leaders held a meeting in an undisclosed location.

Congress leader DK Suresh said the Congress has no role in the developments in BJP. "Yeddyurappa government will be brought down by their own MLAs. Congress has no role in it," he said.

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