Siddaramaiah's Karnataka is India's top job creating state

April 4, 2016

Bengaluru, Apr 4: Karnataka has been ranked as the country's top job creating state with an over 24 per cent share during the fourth quarter of the last fiscal year, according to a report by industry body Assocham.

job The state was followed by Maharashtra (23 per cent) and Tamil Nadu (10.5 per cent), it said.

The information technology (IT) sector created about 57 per cent of about nine lakh job openings recorded between January and March 2016, followed by services (19 per cent) and manufacturing (11 per cent), according to the report.

The banking, financial services and insurance (BFSI) sector accounted for just over 8 per cent share, followed by construction and real estate (3.5 per cent).

Within Karnataka, ITeS (IT-enabled services) accounted for an over 65 per cent share in job openings across the state, followed by services (16 per cent), manufacturing (8 per cent), BFSI (6 per cent) and construction and real estate sector (2.5 per cent).

The Assocham Economic Research Bureau (AERB) had analysed the data sourced primarily from vacancies posted by companies via various job portals together with advertisements offering employment opportunities published in national and regional dailies across India.

Karnataka had recorded 2.16 lakh job openings in the first quarter of last fiscal year, followed by Maharashtra (2 lakh), Tamil Nadu (93,000), the Andhra Pradesh and Telangana region combined (82,000), and Haryana (72,000).

Sector-wise, Karnataka led in terms of job openings in the ITeS sector with 28 per cent share in over five lakh jobs created by the sector, followed by Maharashtra (20.5 per cent), Tamil Nadu (11 per cent), Andhra Pradesh-Telangana (10 per cent) and Uttar Pradesh (8 per cent), it said.

The services sector recorded 1.69 lakh jobs in the January-March quarter of 2015-16 with Maharashtra accounting for the lion's share of about 24 per cent, followed by Karnataka (21 per cent), Haryana (8.4 per cent), Uttar Pradesh (8.2 per cent) and Andhra Pradesh-Telangana (8.1 per cent).

In manufacturing sector, Maharashtra has recorded highest share with 22.5 per cent in over 99,000 job openings, followed by Karnataka (19 per cent), Tamil Nadu (12 per cent), Andhra Pradesh-Telangana (9 per cent) and Gujarat (8 per cent).

Maharashtra also topped with highest share in job openings recorded in BFSI, and construction and real estate with a share of about 31 per cent in both sectors each, while Karnataka followed with a share of 18 per cent and 17 per cent respectively, it added.

Comments

Hmm.. Bakhts thought it was #MoNa's Gujarat which had 100% Employment..!

Great CM Siddaramayya

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Mother of Kerala woman who allegedly joined IS seeks Centre's help to get her back

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March 18,2020

Thiruvananthapuram, Mar 18: Bindhu Sampath, the mother of Nimisha alias Fathima who travelled from Kerala to Afghanistan to join the Islamic State (IS), has sought the Central government's help to bring her daughter back to India.

"I saw a video of my daughter in which she was requesting her return to India. She has realised that India is her country, not Afghanistan. She is scared that she'll be put in jail over there. Responding to my mail, the Afghanistan government has said that the procedure will take time," said Bindhu Sampath.

"I believe in Indian laws. Let her be questioned and realise what is good or bad. I am waiting for the Central government's confirmation on the matter," added Sampath.

Around four years back, a team of 21 members which consisted of couples and children went to Syria from Kerala to join ISIS and lead an Islamic life. After they left, police registered a case against them, which has been handled by the National Investigation Agency.

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Karnataka Bank reports over Rs 285-cr fraud in four loan accounts

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June 6,2020

Jun 6: Private sector lender Karnataka Bank has reported to the RBI that it has been defrauded of over Rs 285 crore consequent to loans gone bad to four entities including DHFL.

A total of Rs 285.52 crore has been reported as fraud wherein the bank was one of the consortium lenders during 2009 to 2014 to Dewan Housing Finance Corporation Ltd (DHFL), Religare Finvest, Fedders Electric and Engineering Ltd and Leel Electricals Ltd, Karnataka Bank said in a regulatory filing on Friday.

The maximum is owed by DHFL at Rs 180.13 crore, followed by Religare Finvest Rs 43.44 crore, Fedders Electric Rs 41.30 crore and Leel Electricals Rs 20.65 crore.

"DHFL (defaulted entity) dealing with us since 2014 had availed various credit facilities under consortium arrangement wherein, we were one of the member banks. In view of Early Warning Signals (EWS) in the conduct of the account and other developments, the account was red flagged on November 11, 2019.

"The borrowing account was classified as Non-Performing Asset on October 30, 2019 and now, for misappropriation & criminal breach of trust & diversion of funds in the credit facilities extended earlier to the company, a fraud amounting Rs 180.13 crore has been reported to RBI," Karnataka Bank said.

Likewise, Religare Finvest Ltd (RFL) was dealing with the bank since 2014, availing various credit facilities.

Following classification of this account as non-performing in October 2019 by a consortium member, Karnataka Bank reported to RBI a fraud amounting to Rs 43.44 crore in the credit facilities extended earlier, on account of diversion of funds.

Leel Electricals was classified as NPA account in March 2019 and it reported to RBI a fraud amounting to Rs 20.65 crore in the credit facilities to the company on account of diversion of funds.

"In all the referred three non-performing accounts, necessary provisions have been made in full to be spread across four quarters," it said.

Fedders Electric and Engineering Limited was reported as NPA in July 2018 by a member bank in consortium, subsequent to which Karnataka Bank reported fraud of Rs 41.30 crore on account of fund diversion.

The account has already been fully provided for, it added.

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