Wage Payments During Lockdown: No Action On Employers Till July, Rules SC
No action will be taken till the end of July against private employers who didn't pay their workers in the weeks-long lockdown to contain the coronavirus, said the Supreme Court on Friday.
States should facilitate settlement between companies and employees over wages and then submit reports before labour commissioners, said the court, according to news agency PTI.
Industries and labourers need each other, said the court about petitions filed by private companies challenging a home ministry notification on March 29 to pay full salaries to employees during the 54 days India was locked down. The ministry later withdrew the notification.
A bench comprising Justices Ashok Bhushan, Sanjay Kishan Kaul and M R Shah posted till the last week of July petitions filed by companies against the ministry’s circular.
Monzo Looks For US Banking License
Monzo is preparing a renewed push to secure a US banking licence, four years after abandoning its first attempt when tal... Read more
Crypto Firms Push Into US Banking
America’s cryptocurrency companies are scrambling to secure a foothold in the country’s traditional banking system, ... Read more
Parallel Banking: Stablecoins Are Now Global
Parallel Banking: How Stablecoins Are Building a New Global Payments SystemStablecoins—digital currencies pegged to tr... Read more
JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity
JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more
Private Equity And Banks: The Complex Web Of Leverage
Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more
Financial Watchdog Highlights Unresolved Vulnerabilities In Shadow Banking Sector
The world’s leading financial stability watchdog has issued a warning about the unresolved vulnerabilities within the ... Read more