BUSINESS
Almost 2 lakh jobs generated by Indian start-ups in 2021, a four-year high: Govt
Since 2018, cumulatively 5,98,324 jobs were generated by start-ups, according to the Union government. Under the Startup India Seed Fund Scheme, Rs 945 crore has been sanctioned for a period of 4 years starting from 2021-22.
BUSINESS
Unemployment remains high in eight regions, very sticky in Haryana, Rajasthan, J&K
Joblessness blamed on delayed economic recovery, sectoral softness, surplus workforce, and a dull agriculture season in November.
BUSINESS
ICICI Bank staff appraisal: Why the lender dropped bell curve method
Collective performance and growth of the bank will have a direct link with employee benefit and bonuses, rather than individual targets and a bell curve based performance assessment policy.
ECONOMY
Explainer: The EWS quota law and controversy over NEET exam
The government has taken a considered decision to revisit the criterion for determining the economically weaker sections in four weeks. The hearing of the proceedings shall be listed on January 6, SC says
BUSINESS
Graduate Employability: IIT-D, IISc, IIT-B among top 100 universities in the world
The finding underscored that Indian universities see clear improvement for the first time in years, due to strengths in subject specialisation and graduate skills. IIT Delhi was ranked 27 in the world, and IISc was placed at 61 ahead of many marquee names.
BUSINESS
Exclusive: India may restrict international workers from partially withdrawing social security deposits
The move, the government believes, will check fund outflows and promote bilateral totalisation agreements, apart from protecting social security rights of Indian professionals working abroad.
ECONOMY
Australia opens border to foreign students from Dec 1, India welcomes move
India termed Australian government's move as “most welcome”, which will aid mobility of students and professionals. International students, including tens of thousands of Indians, contribute AUD 31 billion annually to the Australian economy.
BUSINESS
Exclusive: Wage subsidy scheme incentivises nearly 33 lakh new jobs in formal sector
By September-end, the union government had already contributed Rs 1845.3 crore and at least 106,000 companies have come on board to avail the benefit under the scheme.
BUSINESS
EPFO may park 5% annual deposits in infra investment trusts, alternative funds
Only government-backed alternative funds will be considered for investment. The board also decided to set up four sub-committees including two on employees pension scheme and social security provisions.
BUSINESS
Exclusive: EPFO board to ratify extension of tenure for SBI MF, UTI MF
This will be at least the fourth extension given to the SBI Mutual Fund and UTI Mutual Fund as its ETF manufacturers after an internal committee recommended in 2019 to choose new ETF managers through competitive bidding, as per documents reviewed by Moneycontrol.
BUSINESS
Income loss impact: Private school enrollment declines in rural India as students shift to govt schools
The shift in schooling as shown in the survey proves the point that the income loss and job loss, reverse migration, and inability to pay private school fee in a pandemic year has pushed parents in rural India to largely take their kids to government schools
BUSINESS
Exclusive | EPFO’s Rs 1.23 lakh crore equity investment fetches 14.6% return; CPSE & Bharat 22 prove to be a drag
Exposure to the Bharat 22 ETFs fetched the EPFO an annualised return of just 2.1%; the return on its investment in the CPSE ETF was negative. Experts said they may be good divestment vehicles for the government, but a poor choice for a retirement fund to bet on
ECONOMY
Explainer: How Internationalisation of top Indian universities will be beneficial
Moneycontrol explains why and how Indian universities going global will be a fruitful effort for a sector that caters to over 38 million domestic students.
BUSINESS
US varsities see number of Indian students drop to 5-year lows
India remained the second largest source of foreign students for the US after China. While Chinese students comprise 34.7 percent of the cohort, Indians constitute 18.3 percent.
BUSINESS
Exclusive: IIT Delhi seeks Centre's nod to open campuses in Egypt, Saudi
If approved, it will start a new chapter for the IIT system, and help IIT Delhi to become a global education player instead of just a domestic elite school.
BUSINESS
Exclusive: EPFO likely to update Central board about investigation, audit following Mumbai PF fraud
EPFO is likely to provide details of the PF fraud in a Mumbai regional office, the progress in accounts audit, and the ongoing CBI investigation in the case to the central board when it meets on 20 November. At least one board member has sought details.
BUSINESS
Exclusive: Edtech firm Hero Vired to offer half-yearly appraisal, increase headcount by 3x
As the talent war heats up, edtech startup Hero Vired is rolling out a biannual appraisal and increment system, and calls its a conscious decision to retain talent, promote them, and grow together.
BUSINESS
MC Interview: Khan Academy eyes 10X growth in three years, to focus on digital education in vernaculars: Sandeep Bapna
Khan Academy is entering a hyper growth phase. Our focus is on vernaculars. Besides, English, we are already in six regional languages, and hopeful to be in four more -- Tamil, Malayalam, Bangla and Telugu, says Bapna.
BUSINESS
Kedaara Capital acquires majority stake in GS Lab
GS Lab said investment from Kedaara would enable it to accelerate business growth, offer digital product engineering services to more customers and create an enriching work environment for employees.
ENVIRONMENT
India’s transition to a green economy can create 50mn jobs, presents a $1-trillion opportunity: WEF
A green transition will implicate five sectors--energy, mobility, industry, green buildings and agriculture--that contribute to most of its GHG emissions. WEF said India’s path to decarbonisation will have an estimated economic impact of around $15 trillion by 2070.
BUSINESS
Consulting, finance firms are top recruiters during summer placements at B-Schools
The summer placement season in B-Schools may not serve as a barometer of the larger labour market, but it does indicate that the outlook for employment is looking up. The final placement season on educational campuses over the next three to six months is likely to be buoyant
BUSINESS
EPFO central board meet on November 16, may explore investing in InvITs
InvITs can boost investments in infrastructure projects and also expand EPFO’s investment scope beyond ETFs, G-secs and bonds.
BUSINESS
Central trade unions call for 2-day nationwide strike during Budget Session, protests from November 11
The trade unions said their nationwide strike and convention is aimed at opposing the union government’s disinvestment plan of PSUs, highlight the hardship of the working class, the jobs challenge and the farmers’ issues.
BUSINESS
COP26: Experts call PM Modi’s climate pledges transformative, smart, balanced
India’s climate commitments at COP26 are pathbreaking and ambitious, experts said. However, India’s action on the ground over the short to medium term will be watched closely.
