'One Nation, One Election' will create confusion among voters: Deve Gowda

New Delhi, Mar 15: The new rules for debit and credit cards to increase security and reduce frauds kick in from Monday. In January, the Reserve Bank of India (RBI) had issued new rules to improve user convenience and increase the security of card transactions. These rules will help in curbing the misuse of debit and credit cards.

RBI has directed banks to allow only domestic card transactions at ATMs and PoS terminals in India at the time of issuance/reissuance of card. For international transactions, online transactions, card-not-present transactions and contactless transactions, customers will have to separately set up services on their card.

These rules will be applicable for new cards from March 16. Those with old cards can decide whether to disable any of these features.

As per the existing rules, these services used to come automatically with the card, but now it will start at the request of the customer.

Debit or credit card customers who have not yet done any online transaction, contactless transaction or international transaction with the card, then these services on the card will automatically stop from March 16.

The Reserve Bank has asked all banks to provide mobile banking, net banking option to enable limit and enable and disable service 24 hours a day, seven days a week.

If the customer makes any change in the status of the card, the bank will alert the customer through SMS/email and send the information.

Issuers shall provide to all cardholders facility to switch on/off and set/modify transaction limits (within the overall card limit, if any, set by the issuer) for all types of transactions -- domestic and international, at PoS/ATMs/online transactions/contactless transactions, etc.,

The provisions, however, are not mandatory for prepaid gift cards and those used at mass transit systems.

The latest instructions come in the wake of rising instances of cyber frauds and the huge increase in the use of cards.

New Delhi, Feb 6: Unemployment rate in the country as per a new survey was 6.1 per cent in 2017-18, the government informed Rajya Sabha on Wednesday.

Minister of State for Labour Santosh Gangwar said the government is conducting a new Periodic Labour Force Survey (PLFS) with new parameters and bigger sample size, and its results cannot be compared with previous surveys in this regard.

"As per the new Periodic Labour Force Survey being conducted by the government, the labour force participation is 36.9 per cent and the rate of unemployment for 2017-18 is 6.1 per cent," he said.

Replying to supplementaries during the Question Hour, the minister said the report of this survey is very different than the surveys conducted in previous years.

This survey is not comparable to previous surveys, he said, adding it was an attempt to provide authentic data with the new survey conducted through the Ministry of Statistics.

"We are focusing on infrastructure development and ease of doing business and India's position in the world has improved. India has improved its position to 63rd rank now in 2019 against 196 in previous years," he said.

"Our government is very conscious of creating employment opportunities and is running such programme which generates employment.

"The way our government is functioning, employment opportunities are being created and the youths are getting jobs also," the minister said.

Gangwar said the government has stopped the previous survey as the sample size was low and an attempt is being made to improve the data by adding various parameters and provide more authentic data.

The minister said it will take time for collection of data as households have to be visited on the ground for authentic data collection in rural areas also.

New Delhi, Jul 18: National carrier Air India on Friday said that it is in a ‘very challenging financial’ situation and is taking recourse to several initiatives, with a view to ensuring the continuance of its operations.

The airline, in a statement, noted that it has introduced the partially voluntary 'Leave Without Pay' (LWP) scheme on July 14.

"The scheme primarily enables employees to avail the benefits of proceeding on leave without pay on a voluntary basis. The LWP scheme has been introduced for grant of leave without pay and allowances for permanent employees for a period of six months or two years, which is extendable upto 5 years," the statement said.

"Air India had brought out similar scheme earlier... Several hundred employees have, in the past, availed of the LWP Scheme."

As per the statement, in the wake of the ongoing Covid-19 pandemic, there may be employees who are unable to attend their office duties in person on account of personal reasons.

"The LWP scheme enables employees to take a break from their office responsibility for a defined period of time with the approval of the management, while retaining their employment with the company," the statement said.

"They will continue to avail facilities such as passage, medical and housing at specified rates."

Accordingly, the LWP scheme provides the opportunity to employees to take up alternative employment with the approval of the management during the period of the said leave, the airline said.

"The LWP scheme is a win-win situation for both the management as well as employees as it provides flexibility to employees and simultaneously reduces the wage bill for the company," the statement said.

"It is important to note here that the Covid-19 outbreak has very seriously impacted the airline sector and currently, the airline operations of the company are a small fraction of the prior Covid level operations."

The airline said that employees are encouraged to apply for availing the benefit of the scheme, in the prescribed format, by August 15.

"The only addition in this scheme as compared to the earlier LWP scheme is that the management can pass an order requiring the employees to go on leave for a period of six months or two years (extendable upto 5 years) compulsorily taking into consideration 'Suitability, Efficiency, Competence, Quality of performance, Health, Non-availability of employee and Redundancy'," the statement said.

Furthermore, the airline said that this provision has been introduced for use, "very sparingly", with a view to ensuring that the overall efficiency of the organisation, improves and the management will ensure that this will be implemented with complete fairness and transparency as per prescribed procedure.

Consequent to the announcement of the scheme, Air India unions are discussing their strategy against the move which might involve legal recourse.

An Air India union leader on Friday told IANS: "This is going to affect the livelihood of many. Why not every employee of AI take LWP a few days every month. This way the burden can be shared."

"The motive of the top management is to save their money by snatching money from lower employees."

According to Air India PIM document, as on November 1, 2019, the airline, on a standalone basis (without subsidiaries), had around 14,000 employees, including fixed term contract staff.

The development comes as the Centre has re-initiated the airline's divestment plan with new norms.

Interestingly, this time, it has sweetened the deal by substantially reducing the debt on the airline's account books and offered a 100 per cent stake in the loss-making airline.

The last date for bid submission to acquire Air India has also been extended to August 31.