Bank employees to go on 2-day nationwide strike from May 30

Bank Styrike 1As the negotiations on 2% wage hike failed to convince the bank unions, the bank employees have declared to go on a two-day nationwide strike. The two-day nation-wide bank strike which kicks off at 6 AM on 30 May (Wednesday) could trigger a country-wide cash crunch, said C H Venkatachalam, General Secretary, All India Bank Employees Association (AIBEA).

“People will start withdrawing money, creating a panic situation and many ATMs could go dry,” he said, according to reports.

Banking operations, intra-government transactions, transaction clearances, import bills are going to be impacted.

The bank unions have been pressing for various demands, including wage revision in the wake of the proposal for a 2% hike in their salary.

Around one million bank employees will go on strike from tomorrow. The two-day nationwide strike will end on Friday, 1 June at 6 AM.

ICICI Bank, HDFC Bank, Axis Bank, YES Bank and IndusInd Bank will not be impacted by the strike as these five banks have no trade unions and hence won’t participate in the two-day strike called by around nine bank unions.

Ateast 30 killed due to thunderstorm in UP, Bihar and Jharkhand

Following thunderstorms and lightning in Bihar, Jharkhand and Uttar Pradesh on May 28, nearly 30 people were killed and many others injured.
At least 12 people were killed and nearly 28 injured in thunderstorms in different parts of Jharkhand and 17 people died in Bihar and 9 in Uttar Pradesh.
Bihar Chief Minister Nitish Kumar has announced an ex gratia of Rs 4 lakh each to families of those who died.
According to the India Meteorological Department’s warning in Ranchi, thunderstorms would continue till the monsoon hits Jharkhand around June 12.
“Due to availability of ample moisture in the atmosphere, pre-monsoon thunder cells will be forming causing intermittent thunderstorm and heavy rain in parts of Jharkhand,” said BK Mandal, director at IMD, Ranchi.
According to reports, the meteorological department in Lucknow has predicted thunderstorm accompanied with rain, squall and hail stones in some areas in Hardoi, Sitapur and Farrukhabad districts on May 29.
“Thunderstorm accompanied with rain/squall/hailstone is likely to occur today during next three hours over some areas in Hardoi, Sitapur, Farrukhabad districts and adjoining areas,” the India Meteorological Department said.

Tamil Nadu government orders permanent closure of Sterlite Copper plant

anti-sterlite-protests-in-tuticorin_830b421c-5dc6-11e8-828c-aa2fd3852b8fThe Tamil Nadu government on May 28 sealed Sterlite Copper smelter unit in Thoothukudi and ordered permanent closure of the same. The Tamil Nadu Environment and Forests Department issued a two-page Government Order for its “permanent” closure.

Group owner Vedanta has termed the decision “unfortunate.”

“The plant is permanently sealed. There is no more confusion. I request the people of Thoothukudi to cooperate with the district administration to bring normalcy back in the district,” said Thoothukudi Collector Sandeep Nanduri.

The order further states, “Under Sections 18(1)(b) of the Water Act 1974, in the larger public interest, the government endorse the closure direction of the Tamil Nadu Pollution Control Board (TNPCB) and also direct the TNPCB to seal the unit and close the plant permanently.”

The unit has 3,500 employees, including 2,500 workers on contract. The government’s decision came in the backdrop of the killing of 13 protestors in police shooting during an agitation demanding the closure of the plant a week ago.

 “Closure of Sterlite Copper plant is an unfortunate development, especially since we have operated the plant for over 22 years in a most transparent and sustainable way, we will study the order and decide on the future course of action,” the Vedanta Group said.

Chief Minister Edappadi K. Palaniswami held a meeting of his party legislators at the AIADMK headquarters in Chennai and said that he met cross-section of traders, fishermen and the church for over an hour, along with Deputy Chief Minister O. Panneerselvam and other ministers. The representatives conveyed that “the closure of the plant is the demand of all [in the area].”

 “We have taken this decision, as a mark of respecting the feelings of the people. We are doing what, we consider, is good for the people,” he said.

Ramnath Sterlite, CEO Copper plant, claimed that the company was responsible for generating indirect employment for an estimated 30,000-40,000 people.

Opposition parties hailed the government’s decision.

UP, Maharashtra Bypolls: EVMs hit by heat wave, says EC

EVM_l

On the reports of malfunctioning of voting machines in the Bypolls of UP and Maharashtra, the Election Commission has said that heat wave across the country is interfering with the voting machines,  and termed the reports as the exaggerated projection of reality.

“EVMS didn’t work due to severe heat conditions, we are taking steps to fix it,” stated the commission while denying that the failure of the voting machines was unusual.

During Lok Sabha and Assembly polls in nine states on May 18, there were allegations of malfunctioning of voting machines (EVMs and VVPATs) in Uttar Pradesh and Maharashtra constituencies.

Things to know:

Election Commission has denied the reports of polls being canceled in 35 booths in the Bhandara-Gondiya Parliamentary Constituency in Maharashtra

384 VVPATs and about 15-20 EVMs were replaced in Kairana and Noorpur through the day.

25 per cent of the EVMs malfunctioned in the bypoll to Maharashtra’s Bhandara-Gondia Lok Sabha seat

Samajwadi Party leader Ram Gopal Yadav said “In rural areas where we have a vote base, replacement of EVMs was delayed but in urban areas, the malfunctioning voter machines were replaced speedily.

In  Kairana (biggest polling station in Uttar Pradesh), RLD candidate Tabassum Hassan has filed a complaint alleging that around 150 voting machines were malfunctioning. The poll station witnessed slow voting.

Congress leader Ghulam Nabi Azad reportedly said “They have been doing it for a while now, they do it purposely. They first create a problem with the EVM Machines and then get new ones which already has votes registered. The people have never voted for them. They do it in general elections, by-elections, and assembly elections.”

He further demanded strict action from Election Commission against the BJP.

Former Union Minister in Gondia constituency expressed doubt and questions the reason for bringing EVMs from Surat in Gujarat when they are available in Maharashtra.

Mriganka Singh, BJP candidate from Kairana said “There was massive technical snag in the EVMs and total breakdown of systems. My supporters went back without voting as machines were not working.

Voting has not been cancelled in any booth in 11 Bhandara-Gondiya station, voting was uninterrupted after necessary replacements, confirms EC.

The counting of votes will take place on 31 May.

Election Commission has given an assurance that repoll will be ordered wherever necessary. 

Sunanda Pushkar death: Delhi court reserves order till June 5 on summoning Shashi Tharoor

shashi_sunandaIn Sunanda Pushkar case,  a Delhi court on May 28 reserved its order for June 5 on whether to summon Congress leader Shashi Tharoor as an accused in the case.
Sunanda Pushkar was found dead in hotel hotel Leela Palace on the night of 17 January 2014.
On May 14, the Delhi Police had accused the Lok Sabha MP from Thiruvananthapuram, of abetting Pushkar’s suicide.
While claiming there was sufficient evidence against him, the Police told a city court that Tharoor should be summoned as an accused.
Additional Chief Metropolitan Magistrate Samar Vishal said he would pass the order after the counsel for the prosecution said there was enough evidence to summon Tharoor.
The Police filed a 3,000-page chargesheet in court on May 14 and named Tharoor as an accused under Sections 306 (abetment of suicide) and 498A (husband or relative of husband of a woman subjecting her to cruelty) of the Indian Penal Code (IPC).
While reviewing the chargesheet on Monday, the prosecution in court said that 12 injury marks were found on Pushkar’s body, from three days prior to her death. Additionally, examined mails and chats have shown family issues as circumstantial evidence.
Pushkar had emailed Tharoor nine days before her death, saying that she had “lost her will to live”, Police told the court, according to media reports.
The police have taken her email and messages on social media as a “dying declaration”.
Defence lawyers will not argue their side till the time the court decides on the cognizance of the chargesheet.
“Since he is a sitting Member of Parliament, matter is being sent to the special designated court for politicians, that is ACMM Samar Vishal. Matter be taken up on 28 May,” said the Delhi Court.

5 Smart Ways to Reduce Life Insurance Premium

A life insurance policy is not just a backup plan but a smart way to secure one’s future. In India alone, there are 360 million insurance policies and numbers never lie.
It is estimated that by the year 2020, there will be a rise in savings at a projected rate of 35% as against 26% in the year 2010. This is an interesting shift as the growing uncertainty of the economy is reflected in the saving habits of individuals.
However, the key to making more money is to know how to save money. Some of the smart ways to reduce life insurance premium include:

  • Get insurance cover if you haven’t now
  • Select appropriate policy period
  • Invest in health
  • Buy insurance online
  • Make payments on time

Each of these points has been discussed in detail in the following sections.
Get Insurance Cover if You Haven’t Now
It is never too early to start investing and ideally it will help if one starts saving from day 1. Most investors are unaware of the fact that life insurance premium is lower for those who are younger since one has a productive life ahead the risk associated with it is relatively low.
Investors need to understand that with time, and age, the amount of risk goes up and for this reason, it is better to invest now rather than repent, and pay more, later. For example, taking an insurance plan 5 years later would mean that it may cost Rs 1.5 lac more.
Remember to compare policies before zeroing in on one since you will be able to get the best possible deal this way. Also, look at add-on plans or riders that can help make your insurance plan more complete and provide added coverage without opting for a different insurance scheme.
Select the Appropriate Policy Period
Another key feature that one needs to take into consideration is the tenure of the life insurance plan. This is an often overlooked factor due to which investors end paying more.
A misconception that investors have is that the safest option is to opt for the longest time duration. However, this is not the best idea since one must select the appropriate policy period that will cover the investor, at least during the earning years.
Furthermore, this will help one avoid paying a premium amount that is unnecessary and that eats into one’s savings post-retirement.
Invest in Health
Health is an important aspect,sincethe premium amount is calculated based on one’s health. So, the healthier and fitter you are the more reasonable the insurance premium will be.
Since lifestyle diseases are on the rise due to a sedentary lifestyle one must invest in one’s health. If one is unable to keep blood pressure and diabetes in check will have a significant impact on the premium amount to be paid.
Also, a history of drinking and smoking can cause the insurance premium to go up since these are risk factors. One may assume that these factors are overlooked but they are quite important while calculating the insurance premium.
Buy Insurance Online
Considering the general trend these days, insurance companies are marketing their online products, including life insurance, for a number of reasons. To begin with,it helps one save on cost when compared to the offline policies.
On an average, online term insurance plans are 30-40% cheaper when one purchases it online.At the same time, investors are more active while making investments.
Also, online policies are hassle-free both for the investor and the insurer. However, one must not neglect to ask queries before opting for an insurance plan and make an informed decision.
Make Payments on Time
Another smart way in which investors can reduce life insurance premium is by making payments on time. It may seem harmless but the late payment fee will add an extra cost to the insurance premium, which is completely avoidable.
If the late fee is not daunting enough, on missing paying the premium on time the insurer may ask the investor to undergo a thorough medical examination. As mentioned earlier on, if one is not healthy then the insurer can raise the premium amount to be paid.
Always aim to pay the premium on or before time and remember that foreven one default in payment you won’t get a free pass. If you have defaulted a few times then you can be certain that you will be added to the defaulter’s list, which can ruin one’s financial standing from the policy perspective.
A smart investor will always keep these points in mind in order to clinch the best life insurance plan. At the same time, investors can secure their future and save some money at the same time.
 

Some Issues Between Congress and JD(S) Over Portfolio Allocation In Karnataka: Kumaraswamy

Karnataka Chief Minister H D Kumaraswamy on Saturday responding to questions on portfolio allocation, said “Portfolios have not been allocated. There are some issues regarding portfolios, but it is not an issue that will pull down the government.” He also said, “I will try not to take up an issue as a prestige issue and try to solve a problem. Otherwise I will see. I will not stick to this post, leaving my self esteem.”

Kumaraswamy had met Congress Legislature Party (CLP) leader Siddaramaiah, Deputy Chief Minister Parameshwara and Congress general secretary in-charge of Karnataka K C Venugopal before they left for Delhi.

“State Congress leaders have to get approval from their central leadership, that’s the reason they are going to Delhi today. Once they come back cabinet expansion will happen smoothly,” he said. It has already been decided that Congress would have 22 ministers and JDS 12 in the new cabinet, he added.
Responding to a question on farm loan waiver, he said “I had already spoken to Congress leaders on the issue of farm loan waiver as I had to take them into confidence. I should also understand the financial situation before taking the decision. I cannot do it alone,” he added.

President Ram Nath Kovind Appoints Governors For Odisha And Mizoram

President Ram Nath Kovind on Friday appointed Haryana BJP leader Ganeshi Lal and Kerala BJP Chief Kummanam Rajasekharan as Governors of Odisha and Mizoram, respectively, as per an official statement.
Ganeshi Lal, a BJP leader from Haryana, is currently Chairman of BJP’s Disciplinary Committee. He was a minister under Chief Minister Bansi Lal from 1996-99.
Kummanam Rajasekharan will be replacing Lieutenant General (retd) Nirbhay Sharma who is completing his tenure on May 28. Rajasekharan began his career as a volunteer with Rashtriya Swayamsevak Sangh (RSS) in the 1970s. He has been the president of Kerala BJP since December 18, 2015.
Under his leadership, the party opened its account in Kerala by winning the Nemom seat in 2016. The BJP had then come second in seven constituencies. Rajasekharan had himself contested from Vattiyoorkavu constituency but ended up second.
 

JD(S)-Congress Wins Trust Vote As BJP Walks Out Of Karnataka Assembly

Chief Minister of Karnataka H.D. Kumaraswamy on Friday won the confidence motion with a voice vote in the new Assembly after the opposition BJP staged a dramatic walkout.
HD Kumaraswamy moved the motion, saying “I seek the support of this house to the confidence motion”.
“The confidence motion has been put to vote and won by a voice vote in favour of Kumaraswamy,” declared Assembly Speaker K.R. Ramesh Kumar.
The JD(S)-Congress government won the floor test as 117 members voiced in favour for the confidence motion.
BJP members walked out of Karnataka assembly ahead of the floor test, after BJP’s BS Yeddyurappa in an emotional speech, said that we will hold a state-wide bandh on May 28, if CM HD Kumaraswamy doesn’t waive off farmer loans.
Outside Karnataka Assembly, BJP’s R Ashoka, said “ We walked out on the issue on farmers’ loan waivers. We will hold state-wide bandh May 28. We will be aggressive now.”
After winning the trust vote, Karnataka CM HD Kumaraswamy said, “The real action will start now, whatever promises I have made to the citizens of Karnataka, I am going to fulfill them. I am not going to care about BJP’s threat of state-wide bandh.

Chandigarh: 34-year woman teacher arrested for sexually abusing 15-year old boy

A 34-year-old woman teacher (a mother of two girls aged 10 and eight years old) was arrested in Chandigarh on May 25 for allegedly sexually abusing a 15-year-old boy who was taking tuition from her.

“We have registered a case under Section 6 of Protection of Children from Sexual Offences (POCSO) Act,” confirmed Chandigarh senior superintendent of police Nilambari Vijay Jagdale.

A government school science teacher and the 15-year-old victim were neighbours at Ram Darbar colony in Sector 31, Chandigarh. Their families know each other well. The boy and his younger sister started taking tuitions from the woman in September 2017.

According to the police, the boy’s parents had a confrontation with the teacher on May 21 and on May 23 and which they contacted Childline, a 24-hour, toll-free telephone helpline service for children in distress and were guided to lodge a complaint with the police.

Dr Sangeeta Jund, the project director of Childline, Chandigarh, said, “The teacher requested the boy’s parents to send their daughter to for tuition separately so that she could ‘focus’ on their son.”

She added, “The parents agreed but on the pretext of imparting him knowledge, she started luring the boy physically in the beginning of 2018. She also gave him a SIM card to him to stay in touch with her.”

When we counselled the boy (victim) we realised that the teacher was not only aggressive with him but was also extremely possessive about him. As he slowly opened up to our counsellors, he gave details of the abuse he was facing.

The case came to light on May 22 when the parents approached the tuition teacher to cancel the tuition classes as their boy’s grades were not improving at all. Following this, the teacher became abusive with the parents and locked up the boy in a room. But parents managed to free the boy with the help of some neighbours and took him home.

The teacher was not able to control the situation and she went to their home and drank a lot of cough syrup there. The parents then called up the police and the teacher was hospitalized.

The teacher was produced before a local court on 25 May, after that she was remanded in judicial custody.

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