962

Congress To Get Home; JD (S) Finance In Karnataka

New Delhi: The alliance government of the Congress and the Janata Dal (Secular) in Karnatakahas reached a solution in which the JD(S) will get the finance ministry and the Congress will get home. The government has been struggling to form the Cabinet because of a lack of consensus on portfolio allocation.

The finance portfolio had been a sticking point between the JD(S) brass and the state leadership of the Congress, with both sides arguing that yielding to the alliance partner at the start of the coalition government’s term would hurt their respective parties in the long run.

961

Over 10 Lakh Bank Employees Go On Strike Disrupting Normal Services

New Delhi: Strike of over 10 lakh bank employees has hit the banking operations across the country on Wednesday. Primarily from public sector banks, went on a 2-day strike to protest a ‘meager’ 2% salary hike offered to them by the Indian Banks Association (IBA), a body of banks’ management.

The strike, also supported by employees of some old generation private sector banks and foreign banks, will continue on Thursday.Operations in the new-generation private banks like ICICI Bank, HDFC Bank, Axis Bank, however, were almost normal, barring a few activities, including cheque clearance.

960

ED Asks IT Department To Initiate Fresh Cases Against Karti Chidambaram

New Delhi:The income tax department has been asked by the Enforcement Directorate (ED) to initiate fresh cases under the stringent Black Money (Undisclosed Foreign Income and Assets) Act against former Union Finance Minister P Chidambaram’s son Karti Chidambaramafter the agency came across two bank accounts in London which Karti allegedly did not mention to either investigating agencies or in his I-T returns.

The documents in ED’s possession, sources claim, show that Karti had opened two bank accounts in London in June 2016. He closed both in June 2017 when CBI and ED investigations against him for allegedly receiving bribes in the Aircel Maxis case started gathering momentum. When confronted with the “evidence” during his questioning by the ED at its Delhi zonal office on April 10, 2018, Karti allegedly admitted to having opened the two bank accounts in London and closing them next year.

906

Accused In Kathuwa Rape And Murder Case To Be Produced Before Court Tomorrow

New Delhi: As per the directions of the Supreme Court, the eight accused in the case of the rape and murder of an eight-year-old girl from a minority nomadic community in Kathua will be produced before a court in Pathankot in Punjab on May 31. The Jammu and Kashmir's Crime Branch will produce the charge sheet in the case as well as all the accused in the case before the district and sessions judge in Pathankot.

Officials said a police team along with the staff of Kathua's district and sessions judge will present all the files to the court in Pathankot, 30 km from Kathua, and request permission to translate all the documents from Urdu to English. Citing security concerns in transporting the accused to court, the public prosecutor will move a plea to keep them in judicial custody in Pathankot, the officials said.

905

Banks To Go On Strike To Protest Below Expected Revision In Salary

New Delhi: Employees of 20 state-owned, 12 private sector, and seven foreign banks will go on strike across India on May 30 and 31 as the wage-hike offered to them falls short of their expectations. This will affect millions of customers, disrupting business, and increasing traffic at ATMs around the end of the month -- a time when the salaries of most employees hit their bank accounts.

On May 28, the Indian Banks’ Association (IBA) said it would offer a 2% wage hike this year. The All India Bank Employees Association (AIBEA) said this is inadequate. “Last time the wage hike was 15% and prior to that it was 17.5%. To start a wage hike discussion at 2% increase is ridiculous. IBA should increase it adequately based on which we can talk further,” said CH Venkatachalam, general secretary of AIBEA.