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The Prime Minister’s Internship Scheme, announced in the Union Budget 2024-25, is set to offer a tremendous opportunity for young Indians to gain hands-on experience in leading companies across diverse sectors. As of October 12, the portal for this ambitious initiative is open for registrations, with over 90,000 internship positions posted by top companies like <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword>, <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword>, <keyword id="19950119" type="General" weightage="20" keywordseo="Tata-Consultancy-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Consultancy Services" meta.hostid="261" meta.entityid="Tata Consultancy Services">Tata Consultancy Services</keyword> (TCS), ONGC, Maruti Suzuki, and more. Here’s everything you need to know about how to apply, the companies participating, and answers to frequently asked questions. <h2>Step-by-Step Guide to Applying for the <keyword id="23273918" type="General" weightage="100" keywordseo="PM-Internship-Scheme" source="keywords">PM Internship Scheme</keyword></h2><ol><li>Visit the Official Portal: The PM Internship Scheme’s application process takes place on the official website,<a href="http://pminternship.mca.gov.in"> pminternship.mca.gov.in</a>.</li><li>Register and Set Up Your Profile: After opening the portal, you’ll need to register and fill out basic information, including educational qualifications, age, and internship preferences.</li><li>Explore Internship Listings: With over 90,000 internships available from 193 companies, you can browse listings in sectors like Oil &amp; Gas, Travel &amp; Hospitality, Automotive, Banking, and more. Each listing will provide details on job roles, skills required, and specific fields like Operations Management, Production, Maintenance, and Sales.</li><li>Apply for Your Chosen Roles: You can apply for up to five internships based on your interests, qualifications, and preferred location. The portal allows for an easy application submission and lets you track your applications.</li><li>Confirmation and Next Steps: Once you apply, download the confirmation page for reference. Internships are set to begin on December 2, 2024, so selected candidates will receive further instructions as the start date approaches.</li></ol><h2>Major Companies Participating in the PM Internship Scheme</h2>Here are some of the top companies that have already posted internships on the portal, with more joining every day: <ul><li>Reliance Industries Ltd.</li><li>HDFC Bank</li><li>Tata Consultancy Services (TCS)</li><li>Oil and Natural Gas Corporation (ONGC)</li><li>State Bank of India (SBI)</li><li>Maruti Suzuki India Ltd.</li><li>Jubilant FoodWorks</li><li>Larsen &amp; Toubro Ltd.</li><li>Eicher Motors Ltd.</li><li>Muthoot Finance</li></ul>These companies are providing internships across over 20 fields, covering a wide range of skills and sectors. The biggest opportunities are currently in the Oil &amp; Gas sector, followed by industries like Travel, Automotive, and Financial Services. <div type="Article" hostid="261" msid="113986236" title="Why so many entry-level jobs aren&amp;#39;t entry-level" mstype="2" mssubtype="0"></div><h2>Key Features of the Internship Scheme</h2>Under the scheme, interns will receive a stipend of Rs 5,000 per month, plus a one-time grant of Rs 6,000 to support miscellaneous expenses. These internships are available across 737 districts in all 37 states and Union Territories, making this a truly inclusive national program. Interns can indulge in many diverse internship roles. From operations to maintenance, sales, marketing, and production, these internships offer a variety of hands-on experiences that match real-world corporate needs. <h2>FAQs about the PM Internship Scheme</h2><h5>Who is eligible?</h5>The scheme is open to Indian citizens aged 21 to 24 who are not employed full-time or enrolled in full-time study programs. Candidates in online or distance learning programs are eligible. <h5>What sectors offer the most internships?</h5>The largest number of internships are in the Oil &amp; Gas, Travel &amp; Hospitality, Automotive, and Banking &amp; Financial Services sectors, with positions also available in fields like Manufacturing, IT, and Retail. <h5>When do the internships start?</h5>Internships for this year will begin on December 2, 2024. The scheme aims to facilitate 1.25 lakh internships this financial year and eventually reach one crore internships over the next five years. <h5>What are the application deadlines?</h5>The portal is open from October 12 for candidates to start applying, with companies continuing to post positions as the scheme rolls out. It’s recommended to apply early, as some positions may fill up quickly. <div type="Article" hostid="261" msid="114029056" title="Read 5 résumés that helped techies land $300,000-plus jobs at Google, Meta, Amazon, and Salesforce" mstype="2" mssubtype="0"></div>

PM Internship Scheme finally launched — here’s how you can apply to work with Reliance, TCS, SBI and more!

Are you an avid credit card user? Are you up to speed with all the changes that have come into effect starting today, which is all set to impact your credit card usage, and your pocket. Here's a quick snapshot of all the changes that you should be well aware of: <h2><keyword id="19900482" type="General" weightage="20" keywordseo="ICICI-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="ICICI Bank" meta.hostid="261" meta.entityid="ICICI Bank">ICICI Bank</keyword> </h2>Starting today, ICICI bank has done away with fees for many services, which include request for a charge slip, which was earlier chargeable at Rs 100/slip and cash and cheque pick up, which also carried a fee of Rs 100 earlier. Earlier, for outstation cheque processing and duplicate bank statement (for three months), a fee of Rs 100 was payable. Now, all those charges have been waived. However, going ahead, you'll have to dish out Rs 200 instead of Rs 100, if you wish to get your credit card replaced. <h2><keyword id="19952948" type="General" weightage="20" keywordseo="Axis-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="Axis Bank" meta.hostid="261" meta.entityid="Axis Bank">Axis Bank</keyword></h2>If you hold a <keyword id="19941660" type="General" weightage="20" keywordseo="Citibank" source="keywords" meta.keywordsubtype="org" meta.entityname="Citibank" meta.hostid="261" meta.entityid="Citibank">Citibank</keyword> credit card, this is for you. The migration of all Citibank <keyword id="19953671" type="General" weightage="100" keywordseo="credit-cards" source="keywords">credit cards</keyword> to Axis bank will be complete by 15th July, 2024. Post that, you will receive new credit cards from Axis bank .However, until then, your existing Citibank cards will continue to work just fine. All your unredeemed points will be converted into EDGE miles. After migration, they will have an expiration period of 3 years. Starting today, RBIs new rules mandate that all credit card transactions in the country be processed through <keyword id="20779381" type="General" weightage="20" keywordseo="Bharat-Bill-Payment-System" source="keywords">Bharat Bill Payment System</keyword> (BBPS). This means that if your bank has not come on board with BBPS, you will not be able to make payment through their credit card on other third-party platforms. Out of 34 banks that can issue credit cards, 12 banks have come onboard the BBPS. These include SBI, <keyword id="19938728" type="General" weightage="20" keywordseo="kotak-mahindra" source="keywords">Kotak Mahindra</keyword>, IndusInd, Federal, HDFC, ICICI and IDFC bank. Indian Overseas bank and <keyword id="45660" type="General" weightage="20" keywordseo="yes-bank" source="Orion">YES Bank</keyword> are expected to go live soon. <h2>SBI Bank</h2>Starting July 15th, if you hold one of the 22 specified SBI credit cards, you will no longer accrue any reward points while making certain transactions, particularly if they are related to government services. These include Air India SBI Platinum Card, Air India SBI Signature Card, Central SBI Select+ Card, Chennai Metro SBI Card, Etihad Guest SBI Card, Fabindia SBI Card SELECT, IRCTC SBI Card, Mumbai Metro SBI Card and more. <h2>YES Bank </h2>If you hold a YES Bank credit card, the criteria for you to qualify for complimentary lounge access has changed. Starting today, you will have to spend at least Rs 35,000 from your credit card in the previous quarter, in order to be able to get a complimentary access to domestic airport lounges in the next quarter. Earlier, this threshold was set at Rs 10,000. This will impact YES Marquee, YES SELECT, YES Reserv, YES First Preferred, YES Bank ELITE, YES BYOC, and YES Wellness Plus cards. <h2>HDFC Bank</h2>Starting August 1st, if you make rent, or education related payments via platforms like Cred and Paytm, you will have to pay a fee of upto 1% of the transaction, which will be a maximum of Rs 3,000. However, if you make the payment directly through your school or college's website, you will be able to save on this charge. Similarly, on all fuel expenses of over Rs 15,000, a 1% fee will be applied, which can be a maximum of Rs 3,000.

What has changed for your credit cards, starting today?

<ul class="summary-list"><li>Banks worldwide are fixing issues from a global IT outage caused by a CrowdStrike update.</li><li>British banks like Santander and Metro Bank faced ATM service disruptions on Friday.</li></ul>Major banks worldwide are scrambling to fix issues resulting from a <a target="_blank" href="https://www.businessinsider.com/major-disruptions-airline-bank-london-stock-exchange-microsoft-outage-2024-7">global IT outage</a> caused by a CrowdStrike software update.British banks Santander and Metro Bank said they were impacted by Friday's outage, which affected their ATM services.Santander <a target="_blank" href="https://x.com/santanderukhelp/status/1814263776926962032?s=46&amp;t=0K7zLyMZdVYljqlGABmGpg">said</a> its support teams are "working hard to fix things as soon as possible," Metro Bank <a target="_blank" class="" href="https://x.com/Metrobank/status/1814213167209480505">said</a> customers "may experience a slowdown or temporary unavailability" with some of its products and services."Along with many other organizations, we have been affected by the reported global IT outage," Metro Bank told Business Insider."Currently we are having problems with our phone lines, which means customers may have trouble getting through. Customers can still transact via their app or online banking or visit us instore if they are close by."Metro Bank added that its ATMs had been functional since around 9:30 a.m. BST (4:30 a.m. ET).Commercial Bank of Qatar <a target="_blank" href="https://x.com/CBQat/status/1814284542343090587">said</a> that some of its services, such as mobile banking and its call center, experienced an outage, but all services are now fully restored.According to the <a target="_blank" class="" href="https://www.nzherald.co.nz/nz/bank-problems-reports-bnz-asb-kiwibank-anz-visa-paywave-services-down/R2EY42QKQBALXNF33G5PA6U3TQ/">New Zealand Herald</a>, some banking services in New Zealand were also disrupted, as was South Africa's Capitec, per Bloomberg.Meanwhile, Norway's central bank will carry out a<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-07-19/norges-bank-reports-technical-problem-with-liquidity-operations?utm_source=twitter&amp;cmpid%3D=socialflow-twitter-tech&amp;utm_content=tech&amp;utm_medium=social&amp;utm_campaign=socialflow-organic&amp;sref=lAVQtUwz"> banking system liquidity auction</a> via phone and email, Bloomberg reported. Hundreds of outages related to Visa's services were reported on Down Detector.Some social media users posted about being unable to access banking services, which they said highlighted the importance of cash. Gina Glaros, a reporter at NBC affiliate WTHR-TV, <a target="_blank" class="" href="https://x.com/ginaglaros/status/1814284877920895158">said</a> in an X post that pumps at a Circle K gas station were not working, adding that it was only accepting cash as its card system was down.CrowdStrike said in a statement shared with BI that the outage did not result from a cyberattack or security incident and that it had deployed a fix.The cybersecurity firm added that it is "actively working with customers impacted by a defect found in a single content update for Windows hosts" and that Mac and Linux hosts are unaffected.However, <a target="_blank" class="" href="https://www.businessinsider.com/crowdstrike-outage-why-taking-time-companies-recover-2024-7">some large organizations may face delays</a> in resolving the issues and becoming fully operational again as the fix requires a manual reboot of computers, cybersecurity expert <a target="_blank" class="" href="https://www.businessinsider.com/fix-windows-computer-blue-screen-death-what-to-try-2024-7">James Bore previously told BI</a>. This could take significant time if an organization has many PCs. Santander didn't immediately respond to a request for comment from Business Insider.

Banks scramble to repair the damage caused by Crowdstrike IT outage

<ul><li><keyword id="6357149" type="COMPANY" weightage="20" keywordseo="hdfc-bank">HDFC Bank</keyword>’s customers were reporting unable to conduct transactions using net banking and UPI payments platform.</li><li>The bank has stated that the problem is due to an outage at one of its data centres.</li><li>The Reserve Bank of India (RBI) has asked HDFC Bank to furnish more details about the cause of the outage.</li></ul>Customers of HDFC Bank were reporting problems with their net banking and digital payments. Many were unable to send transactions, others have gone so far as to say that they were unable to withdraw money from ATMs. <div type="image" title="Grids" msid="79344457" hostid="261" caption="&amp;lt;p&amp;gt;HDFC Bank&amp;#39;s services down on BHIM, Google Pay and the bank&amp;#39;s own mobile app&amp;lt;/p&amp;gt;"></div> According to India’s largest private sector lender, there was been an outage at one of its data centres which has left certain services to be unable. HDFC Bank, however, did not divulge the cause of the data center’s downfall — whether it is due to internal or external causes, whether it is a glitch or sabotage. The Reserve Bank of India (<a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/hdfc-bank-outage-rbi-seeks-details/articleshow/79359696.cms">RBI</a>) has asked the bank to furnish more details. <div type="twitter" handle="HDFCBank_Cares" handlename="HDFC Bank Cares" image="http://pbs.twimg.com/profile_images/880333363982159872/lA3myMTv_normal.jpg" favoritecount="0" retweetcount="0" status="@aayushi06 Hi, an unexpected outage at one of our data centres has impacted some of our services. We are working to… https://t.co/HiivPDftD9" createdat="1605979497000" id="1330200538680619008"></div> Complaints first started coming in at around 6:00pm in the evening on Saturday, November 21 and reached their peak at 8:00pm. <div type="image" title="hdfc bank downdetector" msid="79344482" hostid="261" caption="&amp;lt;p&amp;gt;Spike in problems with HDFC Bank over the last 24 hours&amp;lt;/p&amp;gt;"></div> <div type="twitter" handle="suraj64" handlename="suraj jethwa" image="http://pbs.twimg.com/profile_images/918921437183741952/-AVCbeQ7_normal.jpg" favoritecount="0" retweetcount="0" status="From last couple of hours I am not able to withdraw money from any of the ATM, even not able to transfer amount to… https://t.co/ATMTo06V3P" createdat="1605978558000" id="1330196602129174528"></div> <div type="twitter" handle="dirarivazhagan" handlename="Arivazhagan" image="http://pbs.twimg.com/profile_images/1247530095088001035/Ldk-1LdV_normal.jpg" favoritecount="59" retweetcount="1" status="#HDFC Bank down for the past one hour. No services for net banking and atm @HDFC_Bank" createdat="1605972265000" id="1330170206736486409"></div> Services resumed by Sunday morning, November 22. HDFC Bank too issued a statement saying, "The services impacted following the outage have been restored. While you may face intermittent issues as the system stabilizes there is no reason to worry now! Our sincere apologies for the inconvenience caused. Thank you for bearing with us during this period." SEE ALSO: <a href="https://www.businessinsider.in/science/environment/news/mount-everest-home-to-microplastics-and-melting-glaciers/articleshow/79324609.cms">Microplastics found at the highest point on Earth as the glaciers around Mount Everest’s death zone melt</a> <a href="https://www.businessinsider.in/tech/news/mumbais-massive-power-cut-last-month-may-have-been-the-work-of-hackers/articleshow/79318282.cms">Mumbai’s massive power cut last month may have been the work of hackers</a> <a href="https://www.businessinsider.in/finance/banks/news/rbi-panel-proposes-raising-promoter-stake-cap-allowing-nbfcs-to-become-banks-and-large-corporation-can-own-banks/articleshow/79323107.cms">RBI panel proposes recommendations that could redefine private bank ownership</a>

HDFC Bank’s net banking, UPI service and ATMs were down due to a 'data centre outage' but RBI demands more detailed information

<ul><li>The cost of withdrawing cash from ATMs will rise by a rupee and relevant taxes in the new year</li><li>So far, RBI allows five free ATM withdrawals on all banks ATMs every month.</li><li>Check out our <a href="https://www.businessinsider.in/bi-newsletter">weekly explainers</a> on the hottest topics and <a href="https://www.businessinsider.in/newsletters_signup.cms">sign up</a> if you like them</li></ul>Cash withdrawals from automated teller machines (ATM) will cost you more in the new year. Cash withdrawal fee through debit card or credit card of any public or private sector bank will now cost you ₹21 per transaction from ₹20 till now. Over and above the amount, there will be a tax under the goods and services tax (GST) regime. The first five ATM transactions in a month are free. The charges kick in from the sixth transaction. However, if you live in a metro city i.e. Bengaluru, Mumbai, Chennai, Delhi, Kolkata, and Hyderabadad, and you are a customer of <keyword id="6357149" type="General" weightage="20" keywordseo="hdfc-bank" source="Orion">HDFC Bank</keyword> and you decide to use, say, an <keyword id="6355975" type="General" weightage="20" keywordseo="axis-bank" source="Orion">Axis Bank</keyword> ATM, then only three such transactions are free in a month. Banks have started notifying their customers about the change on their website. At HDFC Bank ATMs, only cash withdrawal transactions will be charged, non-financial transactions like balance enquiry, mini statement &amp; PIN change will be free. But if you are using an HDFC Bank card at other bank ATMs, then all transactions will be charged. Axis Bank has issued a similar notification to its customers where it has left the charges on non-financial transactions at ₹10. While ATM charges for every bank remain the same, the fees on non-financial transactions differ from bank to bank. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top banks </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Charges on non-financial transactions from other banks </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ₹8.50 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8.50 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹10 per transaction </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/list-of-upcoming-ipo-in-year-2022-in-india-ags-transact-adani-wilmar-prudent-corporate-advisory/slidelist/88492728.cms">LIC, AGS Transact, Adani Wilmar and other IPOs coming up in early 2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/rbl-bank-slumps-15-after-ceo-goes-on-leave-big-investors-are-eyeing-a-piece-of-the-pie/articleshow/88515146.cms">RBL Bank slumps 15% after CEO goes on leave ⁠— big investors are eyeing a piece of the pie</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/shares-of-hp-adhesives-list-at-319-while-the-shares-were-allotted-at-274-per-share/articleshow/88515033.cms">HP Adhesives lists at 16% premium and investors gain ₹45 per share at opening</a>

HDFC Bank and Axis Bank remind customers that ATM withdrawals will cost ₹21 plus taxes from Jan 1 ⁠— check out the list of charges from top banks

<ul><li>Shouting or screaming is common, especially by <keyword id="636696" type="General" weightage="20" keywordseo="team-leaders" source="Orion">team leaders</keyword> in the sales function, which is a high pressure job, says Varada Pendse, an independent HR consultant. </li><li>Startups and their founders who chase fast growth are also proponents of a fashionable hustle culture that’s often dangerously close to abuse and toxicity. </li><li><keyword id="530113" type="General" weightage="20" keywordseo="hr-experts" source="Orion">HR experts</keyword> point out that the current law is also weak on harassment. </li></ul>A recent video of an HDFC Bank employee abusing his juniors on video call, went viral on social media. Enraged reactions have been pouring in since then with concerns being raised about lack of decorum, crazy targets set for employees and the overall work culture of an organisation. In the above case, HDFC Bank has <a href="https://twitter.com/HDFCBank_Cares/status/1665702138532757515?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1665702138532757515%7Ctwgr%5Ec242fb2427aa9cd56556f5d073e69e60398b1a1b%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.hindustantimes.com%2Findia-news%2Fhdfc-suspends-employee-after-video-of-him-abusing-co-workers-goes-viral-101685975962799.html">suspended the employee</a>, and initiated an investigation. “We at HDFC Bank have a zero tolerance policy for any form of misconduct at the workplace and firmly believe in treating all our employees with dignity and respect,” the bank said in a statement. While the vile screaming in the video has shocked many, HR (human resource) experts are not surprised and in fact say that it’s common across companies. “Workplace toxicity is not a rarity,” says Kamal Karanth, co-founder, Xpheno, a specialist staffing company, adding that toxicity manifests itself in different forms across teams and individuals — across sectors, not just banks. Varada Pendse, an independent HR consultant agrees that screaming is common, especially by team leaders in the sales function, which is a high pressure job with specific deliverables. “Berating employees, abusing and shouting is very standard. The usage of a four-letter word is also very consistent,” she adds. Yet another employee of a private bank that Business Insider spoke to alleges impossible targets which result in work hours that extend to 18 hours sometimes. Whose toxicity is it, anyway? Sales function, especially in banks and insurance companies, is a job of extensive pressures — and team leaders are mostly transferring the stress they feel from their seniors, to others down below. Most salespeople are high achievers who are also used to the culture of a toxic environment — and it has a cascading effect on the behaviour of the entire team. “They believe that it can give them results,” Pendse explains. Also, sales which is the lifeline of any organisation — is also a function where effort need not necessarily match the result. “If there is a role based on activity and not outcome there is a problem. A person may be working 10-15 hours a day, but the outcome may not necessarily reflect the activity,” explains A Balasubramanian, VP and business head at TeamLease Services. Experts believe that there are better ways in which management can motivate employees without passing on the heat they receive to their juniors. “If they can break it down into actionables that the juniors can absorb and execute it is great, otherwise it leads to such situations,” says Balasubramanian on the HDFC Bank viral video. Karanth says that startups and their founders who chase extensive growth in a short period of time —- are also proponents of a fashionable hustle culture. “It also rides dangerously close to abuse and toxicity. Good instructions empower individuals and their work, while abuse is debilitating. The thin line between instructions and abuse is hence the individual's intent behind the action,” he adds. From complaints box to social media Most organisations, be it large banks or even small firms, have HR policy that addresses most issues employees face at work. In most cases, complaints are encouraged. HR experts however say that the current law is also weak on harassment as such. “While there are provisions under the IPC for sexual harassment, there are no direct provisions for workplace abuse and harassment of non-sexual nature,” said Karanth. He adds that employees do have the right to invoke provisions related to defamation, slander, intentional use of abusive language, criminal intimidation etc. “When internal enterprise systems fail to hear and act against abuse, employees do have their individual right to seek civil or criminal action,” says Karanth. Pratik Vaidya, MD &amp; CVO, Karma Global, a staffing &amp; compliance organisation says that it’s necessary to have a workplace redressal committee within the organisation. “Generally, big organisations do have such a committee. The employee can approach the HR and complain of misconduct of the colleague and that can be recorded,” he added. The best way to tackle this problem is that the top management should guide team leaders to be more empathetic, according to Pendse. “The palate is shifting and the pandemic has changed the extent of resilience in people,” she explains.

Workplace toxicity is common but not enough gets recorded, say HR veterans

Pharmaceutical ingredients maker <keyword id="16978832" type="General" weightage="60" keywordseo="spc-lifesciences-ltd" source="Orion">SPC Lifesciences Ltd</keyword> has filed preliminary papers with the capital market regulator SEBI to raise funds through an <keyword id="35216" type="General" weightage="80" keywordseo="initial-public-offering" source="Orion">initial public offering</keyword>. The Initial Public Offering (IPO) consists of fresh issuance of equity shares worth Rs 300 crore and an Offer For Sale (OFS) of 89.39 lakh equity shares by promoter - <keyword id="16978831" type="General" weightage="80" keywordseo="snehal-rajivbhai-patel" source="Orion">Snehal Rajivbhai Patel</keyword> - according to the draft red herring prospectus. The company may consider a pre-IPO placement aggregating up to Rs 60 crore and if such a placement is completed, then the fresh issue size will be reduced. The proceeds from the fresh issue will be used to pay a debt, support working capital needs and fund capital expenditure requirements for setting up Phase-2 at its Dahej facility in order to expand product offerings of pharmaceutical intermediates, and for general corporate purposes. Gujarat-based <keyword id="16978830" type="General" weightage="100" keywordseo="spc-lifesciences" source="Orion">SPC Lifesciences</keyword> is a leading manufacturer of advanced intermediates for certain key active pharmaceutical ingredients. The advanced pharmaceutical intermediates which are manufactured by the company are used in growing therapeutic areas, including cardiovascular, vasodilator (anti-platelet), anti-psychotic and anti-depressants. <keyword id="6669196" type="General" weightage="60" keywordseo="ambit" source="Orion">Ambit</keyword> and <keyword id="6357149" type="General" weightage="60" keywordseo="hdfc-bank" source="Orion">HDFC Bank</keyword> are the book-running lead managers to manage the company's initial share sale. The shares of the company will be listed on the BSE and NSE. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/sebi-bans-6-entities-from-securities-market-in-front-running-case-impounds-2-23-crore/articleshow/99091423.cms">SEBI bans 6 entities from securities market in front running case; impounds ₹2.23 crore</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-rallies-346-pts-nifty-near-17100-on-firm-global-markets/articleshow/99091308.cms">Sensex rallies 346 pts, Nifty near 17,100 on firm global markets</a>

SPC Lifesciences files draft papers with SEBI for IPO

The rupee recovered from its all-time low level and settled 18 paise higher at 82.82 (provisional) against the US dollar on Wednesday, supported by easing crude oil prices. Forex traders said the weakness of the greenback in the overseas market, strong Asian peers and suspected intervention by the <keyword id="6354335" type="General" weightage="80" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> (<keyword id="30067" type="General" weightage="80" keywordseo="rbi" source="Orion">RBI</keyword>) also helped the currency. However, sustained foreign fund outflows and a weak trend in domestic equities restricted the appreciation bias to some extent. At the interbank foreign exchange market, the local unit opened at 82.87 and touched an intra-day high of 82.74 and a low of 82.91 against the greenback. It finally settled at 82.82, registering a rise of 18 paise over its previous close. On Tuesday, the rupee had slumped 22 paise to close at its all-time low of 83 against the dollar. "The Indian rupee snapped a two-day fall as the dollar index wiped out most gains of Tuesday and crude oil declined more than 2 per cent to USD 80 a barrel. The stronger Asian currencies and suspected RBI intervention around 83 also supported the local unit," said <keyword id="329584" type="General" weightage="80" keywordseo="dilip-parmar" source="Orion">Dilip Parmar</keyword>, <keyword id="162421" type="General" weightage="80" keywordseo="research-analyst" source="Orion">Research Analyst</keyword> at <keyword id="103838" type="General" weightage="80" keywordseo="hdfc-securities" source="Orion">HDFC Securities</keyword>. The dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.52 per cent to 103.97. On the domestic equity market front, the 30-share BSE Sensex declined 636.75 points or 1.04 per cent to end at 60,657.45, while the broader NSE Nifty fell 189.60 points or 1.04 per cent to 18,042.95. Global oil benchmark Brent crude futures fell 2.13 per cent to USD 80.35 per barrel. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday as they offloaded shares worth Rs 628.07 crore, according to exchange data. Meanwhile, the Indian services sector growth touched a six-month high in December, supported by a robust intake of new work and favourable market conditions, a monthly survey said on Wednesday. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/adb-indian-govt-sign-220-mn-loan-agreement-to-improve-energy-security/articleshow/96729762.cms">ADB, Indian govt sign $220 mn loan agreement to improve energy security</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/the-ipo-momentum-will-continue-in-2023-at-least-for-sme-ipos-prime-database/articleshow/96728596.cms">The IPO momentum will continue in 2023 at least for SME IPOs-Prime Database</a>

Rupee gains 18 paise to close at 82.82 against US dollar

Our experts answer readers' banking questions and write unbiased product reviews (<a href="https://www.businessinsider.com/personal-finance/personal-finance-editorial-standards#rating-banking-products" class="not-content-link" target="_blank">here's how we assess banking products</a>). In some cases, we receive a commission from <a href="https://www.businessinsider.com/personal-finance/our-partners" class="not-content-link" target="_blank">our partners</a>; however, our opinions are our own. Terms apply to offers listed on this page.<ul class="summary-list"><li>Most banks follow the Federal Reserve System's holiday schedule.</li><li>If you're part of an online bank, transactions aren't processed on holidays.</li></ul>Once a holiday weekend comes around, everything can become a frantic rush — family gatherings, last-minute shopping trips, ever-changing holiday decorations. It's easy to lose track of which days your bank is closed, but you also don't want it to affect your day off if you need to access money in one of your bank accounts.We've included a list of holidays when most banks close, plus alternatives for accessing cash if you need money quickly. We also maintain a list of the <a href="https://www.businessinsider.com/personal-finance/best-banks">best banks</a> in the U.S. <h2>Are banks open on New Year's Eve?</h2>Most financial institutions will be closed on New Year's Eve because it falls on a Sunday this year. If a bank or credit union is regularly open on a Sunday, branches may be open for limited banking hours since New Year's Eve isn't a federal holiday. Contact your local branch for specific hours.<h2>Are banks open on New Year's Day?</h2>Financial institutions will be closed on Monday, January 1, because it's a federal holiday. Brick-and-mortar banks and credit unions will close their branches on New Year's Day. If you use an online bank, your transactions may be delayed until the next business day. Most institutions will reopen with regular banking hours on Tuesday, January 2.<h2>When are banks closed? </h2>Financial institutions close on federal holidays. Most have a holiday list on their website to let you know and prepare ahead of time.Some brick-and-mortar <a href="https://www.businessinsider.com/personal-finance/best-national-banks" rel="noopener">national banks</a> have a list in the FAQ section of the website.Others, like <a href="https://www.td.com/us/en/about-us/holiday-schedule" target="_blank" rel="noopener">TD Bank</a> and <a href="https://www.regions.com/about-regions/bank-holidays" target="_blank" rel="noopener">Regions Bank</a>, have separate pages with bank holiday schedules. During these holidays, brick-and-mortar banks will close all of their branches or modify their branch hours. Customer service hours may also vary depending on where you bank.Quick tip: If a bank doesn't have a holiday schedule on its website, your best bet will be to call your nearest branch to know which holidays it's observing. Online banks usually don't have physical branch locations, but you still may be affected. When an online bank observes a holiday, transactions may be delayed until the next day.Customer service availability will usually stay the same with online banks, but there are some exceptions. <a href="https://www.businessinsider.com/personal-finance/capital-one-bank-review" rel="noopener">Capital One 360</a> offers customer service support for all holidays except the Fourth of July, Thanksgiving Day, Christmas Day, and New Year's Day.Most financial institutions follow the <a href="https://www.federalreserve.gov/aboutthefed/k8.htm" target="_blank" rel="noopener">Federal Reserve System's holiday schedule</a>. Here is the holiday schedule for 2024. <table style="border-collapse: collapse; width: 100%;" border="1"><tbody><tr style="height: 21px;"><td style="width: 33.3333%; height: 21px; text-align: center;">Holiday</td><td style="width: 16.6667%; text-align: center; height: 21px;">2024</td></tr><tr style="height: 21px;"><td style="width: 33.3333%; height: 21px;">New Year's Day</td><td style="width: 16.6667%; height: 21px;">January 1</td></tr><tr style="height: 21px;"><td style="width: 33.3333%; height: 21px;">Martin Luther King, Jr. Day</td><td style="width: 16.6667%; height: 21px;">January 15</td></tr><tr style="height: 21px;"><td style="width: 33.3333%; height: 21px;">Washington's Birthday (Presidents' Day)</td><td style="width: 16.6667%; height: 21px;">February 19</td></tr><tr style="height: 21px;"><td style="width: 33.3333%; height: 21px;">Memorial Day</td><td style="width: 16.6667%; height: 21px;">May 27</td></tr><tr style="height: 21px;"><td style="width: 33.3333%; height: 21px;">Juneteenth</td><td style="width: 16.6667%; height: 21px;">June 19</td></tr><tr style="height: 21px;"><td style="width: 33.3333%; height: 21px;">Fourth of July</td><td style="width: 16.6667%; height: 21px;">July 4</td></tr><tr style="height: 21px;"><td style="width: 33.3333%; height: 21px;">Labor Day</td><td style="width: 16.6667%; height: 21px;">September 2</td></tr><tr style="height: 21px;"><td style="width: 33.3333%; height: 21px;">Columbus Day</td><td style="width: 16.6667%; height: 21px;">October 14</td></tr><tr style="height: 21px;"><td style="width: 33.3333%; height: 21px;">Veterans Day</td><td style="width: 16.6667%; height: 21px;">November 11</td></tr><tr style="height: 21px;"><td style="width: 33.3333%; height: 21px;">Thanksgiving Day</td><td style="width: 16.6667%; height: 21px;">November 28</td></tr><tr style="height: 21px;"><td style="width: 33.3333%; height: 21px;">Christmas Day</td><td style="width: 16.6667%; height: 21px;">December 25</td></tr></tbody></table>If a holiday falls on a Saturday, the bank will still be open on a Friday. But if a holiday occurs on a Sunday, the bank will be closed the following Monday.<a href="https://www.businessinsider.com/personal-finance/is-the-stock-market-open-today">The stock market is open</a> on most of the same days as banks, with a few exceptions.<h2>Do transactions go through on bank holidays? </h2>Most banking transactions don't process on bank holidays, regardless of whether you use an online or brick-and-mortar bank. <a href="https://www.businessinsider.com/personal-finance/ally-bank-review" rel="noopener">Ally Bank</a>, for instance, doesn't let you make any money-related transactions on federal holidays. The online banking platform Chime also has a <a href="https://help.chime.com/hc/en-us/articles/10017608952727" target="_blank" rel="noopener">list of holidays when it can't process direct deposits</a>. Transactions at brick-and-mortar banks like Chase, Wells Fargo, and Bank of America won't be processed until the next business day. Business days are weekdays when branches are in operation.So, instead of hinging on a lagging <a href="https://www.businessinsider.com/personal-finance/direct-deposit" rel="noopener">direct deposit</a>, you may want to come up with a backup plan in case the transaction gets delayed.<h2>Where can I get cash when banks are closed? </h2>Branches are closed on federal holidays, but ATMs aren't. If you have a debit or ATM card, you can still use a machine to take out cash during the holidays.If you're out of town, you can also use a debit card to get cash back at a store if you don't have any free ATMs nearby. That way, you don't have to pay an out-of-network <a href="https://www.businessinsider.com/personal-finance/bank-atm-fees" rel="noopener">ATM fee</a> if your bank doesn't reimburse charges.<h2>How can I cash a personal check when banks are closed? </h2>If you receive a personal check during the holidays, there are a few roundabout ways access to your money quickly.You can cash the check out at a store if you need money in a pinch.Some ATMs let you cash or deposit checks, but you may already need to have those funds in your account. If your bank's ATM network doesn't let you make check transactions, you can deposit the check using your bank's online or mobile features, then cash your check out using an ATM.Funds likely won't be available right away, so this alternative works best if you prefer to have money safe in your account and don't mind waiting a day or two.

Are banks open today? Here's a list of U.S. bank holidays for 2024

The rising demand for credit in last couple of days has prompted banks to garner funds aggressively through certificates of deposits (CD), bonds, and fixed deposits (FD). The need for aggressive fund raising arose after the surplus liquidity in the banking system dropped sharply from the record high. According to the data compiled by Prime database, banks have so far raised around Rs 42,000 crore through CDs. This was even after the rates on this instruments are rising sharply. The data also showed that Indian Bank, topped the fund raising list via CDs, raising worth Rs 13,550 crore, which was followed by <keyword id="6357149" type="General" weightage="80" keywordseo="hdfc-bank" source="Orion">HDFC Bank</keyword> raising Rs 6,550 crore and <keyword id="62034" type="General" weightage="80" keywordseo="punjab-national-bank" source="Orion">Punjab National Bank</keyword> raising Rs 2,875 crore so far in August. Apart from this, there are various banks such as <keyword id="6354731" type="General" weightage="80" keywordseo="state-bank-of-india" source="Orion">State Bank of India</keyword> (SBI), Indian Overseas Bank, Indian Bank, Punjab National Bank, <keyword id="46013" type="General" weightage="80" keywordseo="kotak-mahindra-bank" source="Orion">Kotak Mahindra Bank</keyword>, ICICI Bank, among others have increased their FD raised 5-20 basis points across maturities to attract more investors. "As liquidity is draining out in a calibrated manner from the system, banks are compelled to raise funds through CDs and even through fixed deposits. Some banks are offering special rates for higher FD amounts. With growth picking up, we can expect banks to aggressively raise funds from the market," said <keyword id="14789739" type="General" weightage="80" keywordseo="venkatakrishnan-srinivasan" source="Orion">Venkatakrishnan Srinivasan</keyword>, founder and managing partner at <keyword id="14790820" type="General" weightage="80" keywordseo="rockfort-fincorp" source="Orion">Rockfort Fincorp</keyword>, a Mumbai-based debt advisory firm. Banks credit growth has remained in double digits handily outpacing the deposit growth. The credit growth has increased in couple of weeks due to low base effect, small ticket size loans, higher working capital requirements due to elevated inflation and a shift to bank borrowings on account of high yields in the capital market. The bank credit has grown over 14 per cent on-year, as per data on the <keyword id="6354335" type="General" weightage="80" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> showed. Meanwhile, liquidity in the banking system has cropped sharply in last couple of months. Currently, it around Rs 45,000 crore, as compared to Rs 1.30 lakh crore last week. The sharp drop has been witnessed due to payments for government bonds and outflows on account of goods and service tax payments. Going forward, market participants expect banks to raise more funds because credit demand is likely to rise amid festive season. While, rates on the instruments will also rise due to narrowing of surplus liquidity. "This pace may continue with back of credit off take and <keyword id="30067" type="General" weightage="80" keywordseo="rbi" source="Orion">RBI</keyword> attempts to normalise liquidity, banks need to meet the demand and get the cheaper sources of funds be available so raising via CD and capital instruments to meet the credit demand and preparing oneself for this ahead of festivals and busy seasons," said <keyword id="261562" type="General" weightage="80" keywordseo="ajay-manglunia" source="Orion">Ajay Manglunia</keyword>, MD and Head Institutional Fixed Income at JM Financial. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/what-should-investors-ask-mukesh-ambani-at-his-companys-agm/articleshow/93727113.cms">What should investors ask Mukesh Ambani at his company’s AGM?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/instagram-is-reportedly-testing-a-new-feature-that-looks-like-an-imitation-of-fast-growing-app-bereal/articleshow/93727321.cms">Instagram is reportedly testing a new feature that looks like an imitation of fast-growing app BeReal</a>

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