News From ETBureau

More from ETBureau

• SC holds bank employees' interest-free loans taxable as fringe benefits

  The Supreme Court has ruled that interest-free or concessional loans given by banks to their employees will be considered "fringe benefits" or "amenities" and therefore taxable. The court argued that these benefits are unique to bank employees and are in the nature of a "perquisite," thus liable to taxation. The court upheld the income tax rule, but deemed the fixation of SBI's interest rate as the benchmark to be neither arbitrary nor unequal exercise of power.

  

• Government exploring options to roll out labour codes

  The ministry of labour and employment is considering several options including a gradual repeal of the old labour laws to ensure there is no legal void in states that are yet to draft rules. Besides, the ministry is holding talks with states that are behind in publishing rules, urging them to expedite their compliance.

  

• BITSoM secures 100% summer internship for Class of 2025

  ​BITSoM hosted 55 companies in all during this current summer internship placement cycle. A majority of the 131 students who participated in the placement were placed through the campus process while 22 students proactively found their own internships, the institute said in a release.

  

• Sanjeev Nautiyal to be Ujjivan Small Finance Bank's new MD & CEO

  The Reserve Bank of India has approved Nautiyal's appointment for a period of three years.

  

• India Inc drives better food choices for employees

  Indian corporate cafeterias prioritize employee well-being and productivity by promoting healthy food choices like millets, keto bowls, ragi balls, salads, seeds, and jaggery. Influenced by social media, companies like SAP and Tata Motors lead the trend.

  

• India seeks more presence at decision-making level of ILO

  ​A senior government official told ET that India has suggested inclusion of population and labour workforce of the country in the ILO's assessment criteria for determining a desirable range for a country's representation, so that it is more equitable going forward.

  

• Ujjivan Small Finance Bank appoints Carol Furtado as Executive Director

  ​Ms Furtado has been with the bank since its inception and assumed various key positions including chief human resource officer, head of operations and service quality and chief business officer. She was a key member of the leadership team that laid the foundation of Ujjivan.

  

• India Inc helping more wonder women get C-suite superpowers

  At Accenture, 29% of the leaders in India are women. Diageo India has 30% women in senior leadership. In the last few years, Marico's efforts have pushed women into close to 30% of leadership roles. PepsiCo is looking at 40% women in the India leadership team by next year. Larsen & Toubro handpicked 495 women employees to undergo leadership development programmes in the last few years.

  

• How team player Nyrika Holkar made her way to the top in Godrej Enterprises Group

  Nyrika Holkar leads Godrej & Boyce, set for a key role in succession planning. Her expertise in law and sustainable development drives innovation. She navigates the family business with a strategic vision and collaborative approach.

  

• Tatas to speed up Air India-Vistara merger

  ​The merger is an effort by the salt-to-steel conglomerate to simplify its aviation business. As part of that, while Air India and Vistara will be merged to create a full service airline, AirAsia India and Air India Express have been integrated to create a single low-cost airline.

  

• Auto Industry ramps up C-suite hiring amid post-pandemic sales surge

  ​There has been a sharp increase in hiring in the last 12-18 months with senior executives from FMCG, consumer durables and retail firms making the switch to carmakers like Maruti Suzuki, Bajaj Auto and TVS Motor Company, so far reserved for engineers and technology experts.