Starting off with good news for IITs, the recruitment season is proving generous. Top international recruiters at the IITs have doled out offers north of 40 crores with total compensation packages higher than Rs. 1 crore. Some of the biggest names among them include, Facebook, Oracle, and Google. These offers include cash and stock options. Even for the newer IITs, they may be unable to boast of crore-plus packages like their more established brethren, but newer IITs have got off on a strong note this placement season. Those in this group include the likes of IIT Ropar, IIT Gandhinagar, IIT Bhubaneswar and IIT Mandi. With the E-Commerce boom, amidst good offers, over 10% IITians are expected to join new-age cos.
Public sector banks in North India remained closed as part of the 4 day regional strike called by the PSB bank unions across the country. Following this, banks in East Indian will remain closed on the final day of the strike. Even PSU bank employees in western region to go on strike on the 4th day of the strike. In another news, the NDA government is likely to retain the fund allocation for the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) in the Union Budget 2015-16. Sources, however, said that the government could still look at tweaking the labour-material ratio under the scheme from the current 60:40 ratio as well as creation of more productive capital assets.
Various movements that happened over the week were; DDI announced the appointment of Ms. Anu Zachariah as managing director, DDI India. The CEO and MD of Manipaul Education & Medical Group, Ranjan Pai joined the Board of Vyome Biosciences. Tata Advanced Systems, the defence and aerospace company, appointed Sukaran Singh as the new MD and CEO. Vijay Mallya and the chief of Zuari Group are working to finalise the restructuring of the board of Mangalore Chemicals and Fertilizers (MCF). Representatives from Zuari are likely to join the Board. While Mallya resigned from the Board, Ritu Mallya was made MCF director. Anil Kumar Singh was appointed as the new Director in the premier intelligence agency, CBI.