employees

The Centre has asked states to incorporate certain provisions in the contracts of outsourced workers to protect their rights amid concerns about underpayment of wages and other benefits.
The Ministry of Labour and Employment recently incorporated six statutory obligations on GeM (Government e Marketing) portal  in the contract of hiring manpower through outsourcing agencies in Government of India offices in order to protect the interest of the contractual workers, a labour ministry statement said.
Of late in a letter addressed to Chief Secretaries/Administrators of all States/UTs, Union Labour Secretary Arti Ahuja has expressed concern about the underpayment of contractual workers engaged in State/UT offices through outsourcing agencies due to unauthorized deduction in wages of such workers made by the manpower hiring agencies.
Further, she also expressed concern of the delayed payment of monthly wages to such workers by the agencies and low deposit of  EPF (Employees Provident Fund

Credit card, security, cyber security

Experts had pointed out that in light of these directions against one entity, recovery activities of NBFC sector could get impacted as a majority of NBFCs rely on outsourced agents for loan recovery

Baring Private Equity Asia

iEnergizer offers customer management and custom content development services, according to its website

Office spaces

Company founded in India in 2001; now among its top 3 markets

Reserve Bank, RBI

Bars PSOs from outsourcing core management functions, including risk management and internal audit; compliance and decision-making functions such as determining compliance with KYC norms

Kamal Singhani, country managing partner, IBM GBS

In a Q&A Kamal Singhani talks about outsourcing trends, adoption of cloud, digital and AI by Indian enterprises and his firm's approach to startups

IT sector, work from home

The 100 billion dollar information technology services sector will stage a strong recovery this fiscal with revenue growth of 10 to 11 per cent, according to Crisil Ratings

Amazon

The company provides outsourcing services to governments and diplomatic missions globally

chart

Brokerages expect mobile volumes to rise multi-fold over the next two years

services, PMI, IT industry, jobs, employees, firms, company

Post Covid-19, a third wave of IT outsourcing after the previous ones in the year 2000 and 2008 is expected, which would benefit Indian IT companies and tech jobs

"Catch-up" and "limited resources" are constants for our economy post-independence

Coronavirus to cripple Indian start-ups, firms struggle to pay salaries

That raises questions about whether one of India's showpiece industries can function smoothly amid the coronavirus crisis.

Hot spot for technology outsourcing: The United States

Including consultancy companies, around Rs 5,000 crore of business could be generated

Adityanath

Draft policy being hammered out before being sent to cabinet for approval

Safe-harbour margins may be cut to draw MNCs

The case relates roughly to assessment years 2000-01 to 2002-03 and 2004-05 to 2007-08

Dealing with poorly drafted laws

Focused Technologies Imaging Services, its sole owner Charles Tobin and former co-owner Julie Benware agreed to pay the penalty

Indovative Products, a Delhi-based start-up that manufactures currency packaging products, submitted its bids but was rejected on the technical ground that it lacked "past experience"

Bank Note Paper Mill

Discount brokers have sustained the rise of the equity cult and gained market share. Now the old guard looks to strike back

Industry players say the number of demat accounts will continue to grow. However, the pace of addition may moderate.

markets, demat account

Half of India's population between the age of 30-55 years believes 59 years should be the age of retirement and thirty-two years is when one should ideally start retirement planning,

investment,saving, money, retirement, rupee

He pointed out that the year-on-year growth in September appeared somewhat "muted", primarily attributed to the substantial base effect

Auto sales continue to slide in Dec, likely to remain subdued for some time

Stock market holiday: After Mahatma Gandhi Jayanti on October 2, the market will be closed on October 24, Tuesday, for Dussehra

Stock market, NSE

Shares of MCX, after dropping as much as 8.7 per cent to Rs 1,913, recouped most of its losses to finish at Rs 2,053, down 2.1 per cent over its previous day's close

MCX, Multi Commodities Exchange

Union Steel Minister Jyotiraditya M Scindia held a meeting with five task forces and discussed a range of issues, including incentivising green steel production and financing options for decarbonising the industry.
Key stakeholders, industry experts, and government officials attended the meeting to discuss ways to achieve sustainability and decarbonisation in steel production on Thursday, the Ministry of Steel said in a statement on Friday.
The meeting was also attended by Steel Secretary Nagendra Nath Sinha, chairpersons of the five task forces and other senior officials.
"Held a fruitful discussion with 5 of our 13 task forces. Defined a roadmap to tackle inevitable challenges through a multi-pronged approach, including renewable energy uptake, skill development, incentives, and potential pathways for decarbonisation," the minister said.
The task force on finance, led by Sunil Mehta, the Chief Executive of Indian Banks' Association, provided valuable insights into financing optio

steel company, steel firms, ArcelorMittal, JSW Steel

To give a further push to mining, the state government also plans to establish a mining university in the Kota division

Science

The Regional Meteorological Centre in Mumbai issued an alert saying thunderstorms with lightning, gusty winds, and moderate to short intense spells of rainfall from the east approaching Mumbai

Maharashtra Rains

The six units being planned to be listed are Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, Vedanta Base Metals and Vedanta Limited

Vedanta

Vedanta group firm Hindustan Zinc Ltd on Monday said its production of mined metal dropped marginally by one per cent to 2,52,000 tonnes in the second quarter of the ongoing fiscal.
Hindustan Zinc Ltd's (HZL) mined metal production was 2,55,000 tonnes in the second quarter of the previous fiscal.
"Mined metal production in the second quarter at 252kt, marginally down YoY and two per cent down sequentially mainly due to lower ore production at Rampura Agucha & Kayad mine partly offset by better overall metal grades," HZL said in a filing to BSE.
The company's refined metal output in the second quarter at 2,41,000 tonnes, dropped by two per cent over the corresponding quarter of previous fiscal.
"Integrated zinc production at 185kt, down 2 per cent as compared to 2QFY23 and down 12 per cent sequentially.
"Refined lead production at 57kt, flat as compared to 2QFY23 and up 12 per cent sequentially on account of pyro plant operations on Lead mode during this quarter," the filing ...

Hindustan Zinc, Udaipur

A passenger was arrested for allegedly attempting to open the emergency exit door of an Indigo flight from Nagpur to Bengaluru prior to take-off, police said on Monday.
The man identified as Swapnil Holey had boarded Bengaluru-bound Indigo flight 6E 6803 from Nagpur at around 10 pm on September 30, they said.
According to police, the passenger was seated next to the emergency exit door of the aircraft. Before takeoff, while the crew members were briefing passengers, the man allegedly attempted to open the door.
After the flight landed at the Kempegowda International Airport here at 11.55 pm, Holey was escorted by the airline's staff to the police station, a senior police officer said.
He was scheduled to take a flight to Bangkok on October 1, police said.
Based on the complaint filed by the airline staff, an FIR under section 336 (Act endangering life or personal safety of others) of the Indian Penal Code was registered and the accused passenger was arrested in connection with the

indigo, flights, aircraft, aviation

The incidents of Left Wing Extremism (LWE) have declined by 52 per cent in Chhattisgarh in the last five years and 589 villages have been freed from clutches of the menace, the state government said on Monday.
The Chhattisgarh government's statement came a day ahead of Prime Minister Narendra Modi's visit to Jagdalpur, the headquarters of Bastar district, one of the seven districts in the Naxal-affected Bastar division.
The release said the state government under the leadership of Chief Minister Bhupesh Baghel has been working with the idea of 'Gadhbo Nava Chhattisgarh' (creating a new Chhattisgarh) and marching ahead with a three-pronged strategy of trust, security and development.
The basic policing of the state has succeeded in winning the public's trust and the state government's zero tolerance policy has resulted in curbing incidents of crime, it said.
There has been a 52 per cent decline in incidents of Naxal violence from 2018 to 2022, the release said.
As many as 314 schoo

army, naxal, Chhattisgarh, bastar, security forces

Cotton, PV-dyed yarn and ready-to-stitch fabric producer Sangam India expects to achieve a revenue of around Rs 4,000 crore by 2024-25, following capacity expansion at its seven production units in Bhilwara in Rajasthan, a top company executive has said.
"We recorded Rs 2,730 crore revenue in FY23, and this financial year we are expecting to touch Rs 3,000 crore. With our capacity expansion in various product categories, we are targeting close to Rs 4,000 crore revenue by 2024-25," Sangam India Managing Director and CEO S N Modani told PTI over phone.
However, in this financial year the company's profit will be impacted as the market is under pressure following global economic conditions, he added.
The long-term debt of the company, which employs over 1,200 people, is Rs 600 crore.
The company has seven production units in Bhilwara with over 2,36,000 spindles and 3,000 rotors. It manufactures 35 million metres of PV (polyester viscose) fabric and 48 million metres of denim fabric .

cotton yarn, cotton, textile, clothes

The Delhi government's control centre to monitor air pollution and redress complaints -- 'Green War Room' -- will start functioning round-the-clock from October 3, officials said on Monday.
Launched in 2020, the Green War Room has state-of-the-art air quality monitoring equipment and a team of experts, including scientists and data analysts, which keeps an eye on all sources contributing to Delhi's air pollution and helps the city administration implement its action plan.
Though the Green War Room functions round-the-year, the 24X7 monitoring will start Tuesday onwards, an official said.
The Delhi government on Friday launched a 15-point action plan to mitigate air pollution in the capital during the winter season, with a strong emphasis on addressing dust pollution, vehicular emissions and the open burning of garbage.
During a press conference, Chief Minister Arvind Kejriwal announced that separate and specific action plans have been designed for each of the 13 air pollution hotsp

A view of Rajpath road engulfed in haze, in New Delhi (Photo: PTI)

Outsourcing

Include provisions to protect rights of outsourced staff: Govt to states

Action against M&M Financial Services won't affect other NBFCs: RBI

Outsourcer iEnergizer Ltd in discussions on sale to buyout firm BPEA

A billion-dollar deal seals Blackstone buyout of visa outsourcing firm VFS

RBI issues norms for outsourcing payment, settlement activity by PSOs

We foresee major outsourcing by India clients ahead: IBM GBS country head

Spurt in outsourcing, digital deals to drive IT sector rebound: Crisil

Outsourcing service provider BLS to help Amazon expand India footprint

PLI scheme, outsourcing to aid Dixon Technologies' growth trajectory

Third wave of IT outsourcing expected post Covid-19 to benefit India

Forget catch-up, think futuristic, go big

Covid-19: India's outsourcing sector struggles with work-from-home scenario

Latest PSB merger could create Rs 5,000 cr business in IT outsourcing

Manpower reforms: Adityanath government moots new outsourcing policy

SC offers relief to MNCs over India outsourcing business tax

US contractor fined $3.1 million for illegally outsourcing work to India