Govt jobs in Madhya Pradesh only for local residents: Shivraj Singh Chouhan

Resources of Madhya Pradesh are meant for children of the state,” Chouhan said in a video statement

Madhya Pradesh Chief Minister Shivraj Singh Chouhan on Tuesday said necessary legal provisions will be made to provide government jobs to local people. He also said resources of the state are meant for residents of the state.

The state government has taken an important decision that government jobs will be given to youths of Madhya Pradesh. We are making necessary legal provisions for this. Resources of Madhya Pradesh are meant for children of the state,” Chouhan said in a video statement.

He, however, did not elaborate about the proposed legal provisions. In his Independence Day speech, Shivraj Singh Chouhan had said preference would be given to locals in government jobs. He had also said his government will devise a mechanism to ensure employment to youths on the basis of their marksheets of classes 10 and 12.

FMS Delhi placements: Average annual salary up 11%, highest at Rs 58.6 lakh

Of the total batch size of 230 students, around 219 joined the placement process; they received a total of 234 offers, along with 68 pre-placement offers

Contrary to apprehensions over a sluggish economy, placements at top B-schools, including Indian Institutes of Management (IIMs), have been robust this year. Faculty of Management Studies (FMS), Delhi, which reported a 100 per cent placement, attracted its highest-ever average cost-to-company (CTC) offer of Rs 25.6 lakh per annum, as the B-school wrapped up the final recruitment process for the 2018-20 batch. The highest annual salary package offered was Rs 58.6 lakh.

The average package saw an 11 per cent over the last year, while the median package stood at Rs 23.4 lakh per annum. IIM Ahmedabad’s final placement process witnessed a rise of 80 per cent in the number of recruiters participating from the private equity (PE), venture capital (VC) and asset management (AM) cohort this year, over 2019.

Besides, at IIM Udaipur, the average stipend for internships rose 37 per cent as the B-school wrapped up its summer placement process for the 2019-21 batch, ahead of its final placement process for the 2018-20 batch. The average stipend for the batch reached Rs 85,060, up 37 per cent over last year. The highest stipend — Rs 2.50 lakh — was offered in the FMCG sector..Read More

Axis Bank to hire 30,000 employees in next 2 yrs; open 550 branches in FY21

Gross hiring till December FY20 has been of 28000 employees and attrition inched up by 2 per cent in FY20

Axis Bank to hire 30000 employees in next two years and subsidiaries. Gross hiring till December FY20 stood at 28000 employees compared to 14500 employees in December FY19. The net new hiring for the bank stood at 12800 employees till December FY20 compared to 3000 employees till December FY19. The bank plans to add another 4000 more employees in the last quarter of FY20 . Much of this is being hired in semi urban and tier 2/3 towns and rural India.

Axis bank has added additional unit which is working on intelligent automation across banking operations with use of artificial intelligence, machine learning, big data and RPA (Robotic Process Automation). Bank has added 800 employees in this vertical.

The bank has 75000 employees in total, which was 60000 in FY19. However, the bank has reported two per cent spike in its attrition. Till December FY20, bank has reported attrition of 19 per cent compared to 17 per cent of the same period. 15000 employees have exited the bank in nine months which the bank calls early morality i.e leaving their jobs in first six months due to different reasons. Bank says this attrition is mainly at the junior level such as assistant manager, manager and officer level…

Demonetisation, 3 years on: A look at impact on key sectors of the economy

With three years of data available to back or reject the various assertions and assumptions, Business Standard looks at the Modi govt’s most disruptive economic measure, the ‘note ban’

On November 8, 2016, Prime Minister Narendra Modi announced to the nation that Rs 500 and Rs 1,000 currency notes — 86 per cent of all currency notes in circulation in value — would cease to be legal tender. The stated objectives were unearthing black money, cracking down on counterfeit currency, and choking terror financing.

Unsurprisingly, there were strong reactions both in favour of and against the unprecedented move, which would come to be known as ‘demonetisation’ or ‘note ban’. While some hailed it as a courageous step against impropriety that was hurting the economy, others saw the move itself as disastrous for the economy.

In the months that followed, even as reports suggested that the government had not come any close to achieving its stated objectives, the government was seen patting itself on the back for the country’s move towards becoming a ‘cashless’ economy, or, as the PM said, a ‘less-cash’ economy. Many called this an act of ‘moving goal posts’ and rushed to label demonetisation as an economic nightmare. Three years later, we have enough data to analyse and gauge the impact of the note-ban exercise on various important sectors of the economy.

Jobs

According to Labour Bureau’s Sixth Annual Employment-Unemployment Survey, the unemployment rate rose to a four-year high in 2016-17, when the government demonetised old currency notes. In 2017-18, the country’s unemployment rate stood at a 45-year-high of 6.1 per cent, according to the National Sample Survey Office’s (NSSO’s) periodic labour force survey (PLFS). Moreover, demonetisation caused a 2-3-percentage-point reduction in jobs and national economic activity in November and December 2016, according to a research.

Is India running out of time to cash in on its booming young workforce?

India isn’t doing enough to revamp its education system to prepare the youth for better-paying, high-skilled jobs, going by a recent World Bank report

Economy News: India, which is home to more young people than any other country, is running out of time to harness the potential of its youth to drive economic growth. The nation’s population in the under-19 age group has already peaked, government data show. That means the labor force will grow more slowly from here on out. In just over 20 years, the South Asian nation will be an aging society, similar to where China is now, according to the Economic Survey published by the Finance Ministry earlier this month.

With those risks looming, India isn’t doing enough to revamp its education system to prepare the youth for better-paying, high-skilled jobs, going by a recent World Bank report. The world’s sixth-biggest economy, and until recently the fastest-growing major one, is ranked 115 out of 157 countries in the Human Capital Index, which measures the investment in education and health care for young people.

Finance Minister Nirmala Sitharaman’s budget this month allocated 3.4 per cent of total annual spending to the ministry in charge of education, little changed from the last few years and down from 3.8 per cent in 2015. The government’s own review of public schools says “it is common knowledge” that the country’s education system suffers from a shortage of teachers and staff, poor teacher training and delays in receiving funds.

Punjab job crisis: Note ban haunts as labour pleads for work at 1/3rd wages

Most end up consenting to compensation as low as Rs 150-Rs 200 while the official the lowest pay permitted by law is Rs 311.12 for an untalented worker and Rs 375.62 for a talented worker

Stress had put profound wrinkles on Balkara Singh’s temple however he was only 32 years of age. The day by day wage specialist, wearing a blurred blue sweater and pants, has gone to the Gol Diggi work center in southern Punjab’s Bathinda city each and every day throughout the previous five years to search for employments. Since the finish of 2016, he has returned home frustrated generally days. As well as could be expected trust in were around 10 days of work in a month, he said.

Neediness drove Balkara out of school when he was in Class 2 and his solitary dream was to see his kids – matured four and six- – complete their training. His little house in Amargarh town where he lives with his significant other, kids and guardians, is around 14 km from Gol Diggi. It takes two transport changes and Rs 30 to achieve the center point.

When we met Balkara toward the beginning of April 2019, he was never again beyond any doubt if his fantasy could ever worked out as expected. The move by the Narendra Modi government in November 2016 to pull back 86% of India’s money, by esteem, had thumped the scrape the bottom of the easygoing employments division which kept running on money installments – farming, little scale material units, chaotic retail organizations, and the travel industry as IndiaSpend has announced.

ALSO READ: When getting a new line of work turned into a bad dream in Bengaluru after note boycott, GST

Five million men, for the most part from the chaotic segment, lost their employments over the two years following demonetisation, said another report ‘Territory of Working India 2019’. This most recent gauge of occupation misfortunes was distributed by the Center for Sustainable Employment (CSE), Azim Premji University, Bengaluru, and discharged on April 16, 2019. The numbers would have spiraled if ladies somehow managed to be incorporated into the examination. As Punjab cast a ballot on May 19 in the progressing general races to the Lok Sabha, we investigate the state’s casual occupations emergency.

The joblessness rate in Punjab in November 2016- – when demonetisation was reported – was 4.9%, which expanded to 6.1% in December 2016 as indicated by the Center for Monitoring Indian Economy, a consultancy. This joblessness rate achieved 8.9% in June 2017 and further expanded to 9.2% on the main commemoration of demonetisation in November 2017. In October 2018, the figure achieved 11.7%, and by February 2019, recorded 12.4%…

5 million men lost their jobs after demonetisation, says SWI 2019 report

Though the report does not establish any causal link with the note ban, it says the labour force participation started falling suddenly between September and December 2016 for both urban and rural men

Economy News: According to an analysis by Bengaluru-based Azim Premji University researchers, five million men lost their jobs between 2016 and 2018. The beginning of the decline in unemployment coincided with Prime Minister Narendra Modi’s demonetisation of high-value currency notes on November 8, 2016. The university released its State of Working India 2019 (SWI 2019) report here on Tuesday, adding to the already raging debate over employment generation at a time when India votes to elect a new government.

The government has not released the results of the new high frequency Periodic Labour Force Survey (PLFS) conducted by the National Sample Survey Office (NSSO). In its absence, the researchers have used data from the Consumer Pyramids Survey of the Centre for Monitoring the Indian Economy (CMIE-CPDX) to understand the employment situation between 2016 and 2018. The CMIE-CPDX is an ongoing nationally representative panel survey of around 160,000 households, conducted every four months.

According to the report, the labour force participation started declining suddenly between September and December 2016 for both urban and rural men. The rate of decline slowed down by the second half of 2017, but the general trend had continued and there had been no recovery, SWI 2019 said, adding that though the timing of the decline coincided with demonetisation in November 2016, the researchers could not bring any causal link based on these trends. The Work Participation Rate (WPR) declined as well but not as sharp as the Labour Force Participation Rate (LFPR).

SWI 2019 found that between January to April 2016 and September to December 2018, the urban male LFPR fell by 5.8 percentage points while the WPR for the same group fell by 2.8 percentage points. The SWI report states that the unemployment rate has steadily increased to around 5 per cent in 2015 and then just over 6 per cent in 2018. Both the PLFS and the CMIE-CPDX report the overall unemployment rate to be around 6 per cent in 2018, double of what it was in the decade from 2000 to 2011…

Indian Railways gives another chance to 70,000 candidates to apply again

The Railway ministry has asked these aspirants to rectify their mistakes in the application process by July 20

JOBS : Indian Railways is giving a second chance to 70,000 candidates whose job applications were rejected for uploading faulty photos. The Railway ministry has asked these aspirants to rectify their mistake by July 20.

Indian Railways has received 4.8 million applications for 26,500 posts of assistant loco pilots and technicians.

“We realised that among the total applications that were found ineligible, around 127,000 candidates were found ineligible for invalid pictures. Out of the 127,000 people, now, 70,000 have been asked to make the changes in the pictures and upload them again,” Rajesh Dutt Bajpai, Director Information and Publicity, Railway Board said to PTI.

An email and a message have been sent to the 70,000 applicants, who were given a second chance.(Indian Railway Jobs)

The first phase of examination for the various posts will be conducted in September-November. The exams were postponed from May-June due to a high number of applications. The railways took time to scrutinise all the applications.

The Indian Railways will fill up over one lakh vacant posts by March-April next year.

The Railways received around 22.7 million applications for about 110,000 vacancies it had advertised.(Source : BS)

Work part time while studying abroad: Here is the guide to different countries and their rules

Benefits that you can get when you decide to work part time while studying in a different country, and also about the different ways in which you can find out a part time job while you are studying.

 

 

 

There are many benefits of part time job when you are studying abroad. In some of our earlier stories, we told you about the many benefits that you can get when you decide to work part time while studying in a different country, and also about the different ways in which you can find out a part time job while you are studying abroad.

Once you are sure about your academic schedule and have a good understanding of how much free time you can devote to your part time work, it is time to find that perfect part time job. But before you start looking, it is important that you are aware of the various rules and regulations of the country so that you are within the rules and do not unknowingly get in any legal trouble.

Keep in mind that different countries have different requirements and conditions when it comes to working part time while you are not a citizen of the country. It is important that you also check the facts from your international student handler and also check on them beforehand with the person you are in connection with from that particular country. A good place to check on the various rules and regulations to working part time when you are going to study in a different country is the embassy of the country where you plan to go for your studies.

Country wise information on working part time while studying

Here is a list of the rules and regulations associated with some countries that are important if you are looking to work part time while you are studying:

• United Kingdom: You can work part time in UK while you are studying. If you are studying in the UK on a Tier 4 student visa for more than 6 months, you can work between 10 and 20 hours a week while in your stay period. The same changes to 40 hours a week during your vacation period.  
• Germany: The following applies to you if you are NOT a language student. You can   work for up to 120 days a year on a full time basis while you are a student. If you     want to work part time, you can work for up to 240 days a year while you are a       student......(Read more)

India to send 300,000 youth to Japan for on-job training

Japan will bear the financial cost of the skill training of Indian technical interns; about 50,000 of them may also get jobs in Japan

economy policy: India will send 300,000 youth to Japan for on-job training for 3-5 years as part of the government’s skill development programme, Union Minister Dharmendra Pradhan said here today.

Japan will bear the financial cost of the skill training of Indian technical interns.

The Skill Development and Entrepreneurship Minister said the Union Cabinet has approved signing of Memorandum of Cooperation (MoC) between India and Japan on the ‘Technical Intern Training Program (TITP)’.

The MoC, he said, is expected to be signed during his three-day visit to Tokyo starting October 16.

“TITP is an ambitious program to send Three Lakh Indian technical interns to Japan for on the job training for a period of three to five yrs,” Pradhan said in a tweet.

He said the youth will sent for training in the next three years with Japanese financial assistance.

About 50,000 of them may also get jobs in Japan, he added.| Readmore…