New Delhi: Prime Minister Narendra Modi is preparing to launch India’s biggest overhaul of labour laws since independence in a bid to create millions of manufacturing jobs, at the risk of stirring up a political backlash that could block other critical reforms.

Three officials at the federal labour ministry told Reuters that the ministry was drafting a bill for the upcoming parliamentary session that proposes to loosen strict hire-and-fire rules and make it tougher for workers to form unions.

Montreal: State Bank of India (SBI) expects to complete a deal that would reduce its stake in a life-insurance venture with BNP Paribas Cardif to 49% by the end of next year, chairman Arundhati Bhattacharya said.

SBI owns 74% of SBI Life Insurance Co., as the venture is called, and BNP Paribas Cardif holds the rest. The two will soon begin the process of valuing the company, so it’s too early to say how much the stake might fetch, and whether BNP Paribas Cardif will increase its ownership or an initial public offering (IPO) will take place, Bhattacharya said.

Facebook Messenger’s quest to own all the ways you connect with friends is now expanding to games. Today I spotted “Doodle Draw Game” in the Messenger platform app list, and Facebook says this is the first true game available since the platform launched in April.

Doodle DrawInitially, Facebook only allowed content creation apps like GIF and sound effect makers on the Messenger Platform. The closest thing to a game was Talking Tom, which lets you choose a cartoon avatar to deliver your video message.

Mumbai, June 9: ICICI Bank today announced the appointment of M.K. Sharma, former vice-chairman of Hindustan Unilever, as its non-executive chairman for a period of five years.

Sharma will replace K.V. Kamath, who will shortly step down from the board consequent to his nomination as the first president of the New Development Bank established by the Brics nations.

BENGALURU: Wipro has reduced the variable component in the overall compensation of junior and mid-level employees effective June. Following a path Infosys set two years ago, India's third-largest IT services company has reduced the quarterly performance linked compensation (QPLC) and increased the fixed component to bring more predictability and consistency to compensation.

SBI Life Insurance has introduced ‘Connect Life’, a tablet-based service which gives choice to the customer while purchasing a policy in simple and effective steps.

It is adopting digitization of the entire process beginning with built in need analysis calculator that offers a customer the right products to choose from, filling the proposal form with a facility of paying premium and uploading necessary documents from the tablet.

Capital markets regulator Sebi has sought clarification from fashion and apparels brand Numero Uno regarding its proposed initial public offer (IPO).

Without disclosing the details of clarifications sought, Sebi has said that it is awaiting response from the Lead Manager for the proposed public offer of Numero Uno Clothing Ltd.

Mumbai, June 8: HDFC - the country's largest housing finance company - today said it was planning to raise Rs 5,000 crore via secured redeemable non-convertible debentures (NCDs) and warrants.

HDFC will seek shareholder approval for the issue at the annual general meeting on July 28.

New Delhi: Delhi law minister Jitender Singh Tomar was on Tuesday arrested in the alleged fake degree case.

Police arrested the Aam Aadmi Party (AAP) leader from his residence on Tuesday morning and took him to Hauz Khas police station for further questioning. Police sources said he has been arrested in the alleged fake degree case.

IRCTC has joined hands with SpiceJet and GoAir to enable wait listed travellers to cancel the train ticket and book a flight on either airline by paying some incremental fee.

As per sources concerned with the deal, the tie-up happened over a month ago. It is also speculated that IRCTC would be tying up with other private airlines in the future.

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