Raj Thackeray threatens with state-wide 'rasta roko' on 12th Feb

Flexing his muscle on the toll issue, the MNS chief also challenged Maharashtra government to arrest him

Escalating his confrontation with Maharashtra government on the toll issue, Raj Thackeray, the chief of Maharashtra Navnirman Sena (MNS) has announced a state wide "rasta roko" agitation on 12th February 12 to press for abolition of the levy. He also dared the Congress-NCP government to arrest him.


Raj, who is facing multiple cases for instigating his party cadres to vandalise toll booths on various highways a few days back, said he was determined to continue his stir until the state government makes the process of toll collection transparent.


"My meeting with chief minister Prithviraj Chavan to resolve the (toll) issue has proved futile. I am left with no option but to continue my agitation against the collection of toll and to side with the anger of people against the unjustified road tax," Raj said addressing a rally at SP College ground in Pune.


He also criticised the lax attitude of Home department over the law and order issue in Maharashtra.


Taking a dig at Shiv Sena for criticising his ongoing agitation, the MNS chief said," I wonder whether that party was part of the ruling coalition or belonged to the opposition".


Gurunath Meiyappan guilty of betting, spot-fixing in IPL, says report

While rejecting BCCI chief Srinivasan’s contention that Meiyappan was merely a cricket enthusiast, the Justice Mudgal report says the son-in-law was the face of Chennai Super Kings

Allegations of betting and passing of information against Gurunath Meiyappan, son-in-law of Cricket Board chief N Srinivasan, stand proved, says a report on the spot fixing scandal in the Indian Premier League (IPL).


Punjab & Haryana High Court's former chief justice Mukul Mudgal on Monday submitted his report on the IPL spot fixing scandal to the Supreme Court, saying that the allegations of fixing requires further investigation.


While rejecting Srinivasan’s contention that Meiyappan was merely a cricket enthusiast, the report says the son-in-law was the face of Chennai Super Kings, a franchisee in the IPL tournament.


Allegations of betting and spot fixing against Rajasthan Royals’ Raj Kundra need to be further investigated, says the report submitted to the Supreme Court.


The report also suggested that retired armed force personnel, police officers be recruited by BCCI to handle cases of corruption and match fixing.


The report says, "conflict of interest on Srinivasan holding post of BCCI chief and ownership of IPL franchisee is a serious issue and needs to be considered by court".


The committee has also given a ten-point suggestion to Supreme Court for making cricket a “cleaner” game and eliminate evil of spot and match fixing.


The report further noted players like Sachin Tendulkar, Rahul Dravid, Saurav Ganguly, VVS Laxman, V Prasad, Anil Kumble should advise youngsters about the malaise of fixing.


Bank employees’ two-day strike hit transactions across India

The two-day nationwide strike by bank employees has affected clearing of cheques worth Rs7.40 lakh crores across the country on Monday. At many places, ATMs are not functioning or are dried up. The strike would continue on Tuesday as well

Banking operations, including clearing of cheques, across the country were hit Monday as around 10 lakh employees went on a two-day nationwide strike over wage revision settlement and ongoing banking sector reforms.


United Forum of Bank Unions (UFBU), the umbrella organisation of five employee unions and four officer unions of state-run banks in the country, had given the call for strike on 10-11 February. Due to the strike, banking transactions, including clearing operations, were paralysed across the country. While bank branches remain closed at several places, normal banking services were disrupted.


"All over the country about 10 crore cheques worth Rs7.40 lakh crore could not be cleared. In Chennai clearing house, about 90 lakh cheques worth about Rs64,000 crore could not be processed in clearing. Government transactions, foreign exchange transactions and money market operations were also affected.  In many places, ATMs did not function or were dried up," said CH Venkatachalam, general Secretary, All India Bank Employees Association (AIBEA) in a statement.


Around 10 lakh bank employees and officers working in 27 public sector banks including State Bank of India (SBI) and 12 old generation private sector banks and eight foreign banks are on a two days nationwide strike.


Apologising for the inconvenience caused to public due to the strike, Mr Venkatachalam said, "Since Indian Bank's Association (IBA) and government did not settle our demands, the strike has been forced on us. We are sorry that the banking public would have been inconvenienced by this strike but that was unavoidable due to the non-serious approach of the IBA and government to avert the strike by improving their offer on wage increase and discussing our concerns on the banking sector reforms."


UFBU had called for a strike on 20-21 January this year. At that time, the IBA increased its offer to 9.5% from 5% with a promise to improve it further. However, during the discussions on 27th January, the IBA increased its offer by just 0.5% to 10%, which was rejected by UFBU representatives. The Union has been seeking an increase of 30% as their wage revision is pending since November 2012.


On 14 December 2013, the IBA called the Unions for talks and made their offer, which was found to be too low and hence was not acceptable to the Unions and hence UFBU decided to go ahead with the strike, the statement from AIBEA said.


According to UFBU, the last wage settlement in the banking sector expired in October 2012 and hence a revised settlement was due from November 2012.


Mr Venkatachalam said, bank managements are claiming that bad loans are increasing and hence profits are reducing. “Bad loans increase but not because of employees. Employees should not be held responsible for the same.  In the last five years Rs1.40 lakh crore have been provided towards bad loans from the profits. In addition, in the last six years, bad loans worth Rs1.41 lakh crore have been written off. But when it comes to our salary revision, managements are reluctant,” he said.


According to UFBU, its demands are reasonable and also negotiable. Mr Venkatachalam said, “UFBU would like to settle the demands through mutual discussions. But if the banks do not adopt a fair approach, the employees’ resentment would have to be ventilated through strikes only. We hope that IBA would understand our demands and come forward to settle the demands through amicable negotiations and finalise the settlement at the earliest.”



Ramesh Jaradhara

3 years ago

The plea of bad loans taken by IBA/Govt for non-revision of wages/salaries of bank employees as per their demand is not sustainable because corporate debts becoming NPA comprises the large chunk of the bad loans in PSBs. Instead of taking stern action for recovery of these bad loans govt is considering waiver of such loans or taken a soft stance against defaulting corporates. Banks are still a viable business proposition, a profit centre for govt exchequer because of employees give their best performance. The prevailing dismal performance of some banks are due to govt policy is not align to economic considerations.

We are listening!

Solve the equation and enter in the Captcha field.

To continue

Sign Up or Sign In


To continue

Sign Up or Sign In



The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)