Facts about E-Invoicing
By financen | January 20, 2016 - 6:02 pm - Posted in Invoice, Uncategorized

e-invoicing infographic

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Employees Protest RBI Pension Plans With Ongoing Strikes
By financen | January 16, 2016 - 3:58 pm - Posted in Banking

Employees of the Reserve Bank of India (RBI) have been staging impromptu strikes since September in an effort to make their dissatisfaction known with the bank’s treatment of them. Workers have been staging periodic walk-outs as a response to the bank’s refusal to improve pension plans and other grievances.

  • Retirement Benefits Eroded By Inflation

The latest mass walk-out occurred on November 19, when 17,000 workers staged a protest to protest what they see as crippling actions by the bank’s management in New Delhi. RBI employees claim the bank has done little to account for cost of living increases pensioners face, which is forcing many of them to live in poverty. The United Forum of Reserve Bank Officers and Employees, which oversees the four unions that represent RBI workers plans to continue to stage “casual leave” walk-outs until the bank agrees to meet their “reasonable demands” for improved pension plans.

Published reports claim that workers are attempting to obtain a “one-rank, one-pension scheme” which would level the playing field in terms of the distribution of retirement benefits. The government promised to implement this system in August, 2015, but so far has not done so. Moreover, employees are concerned that the RBI now has less autonomy than it once did.RBI

  • Monetary Policy Committee Has Been Proposed

There is concern that Prime Minister Narendra Modi is attempting to curtail the RBI’s independence by creating a Monetary Policy Committee that will set interest rates and make other decisions officers of the bank once made on their own. Central bank governor, Raghuram Rajan supports this decision, but the committee’s exact functions have yet to be determined.

The government is concerned about the country’s economy since the RBI chose to lower interest rates four times during 2015 to compensate for a struggling economy that is suffering because of low commodities prices. Despite the lower cost of goods, employees claim they can no longer pay for things like medical expenses, or obtain housing loans. They are pushing for the bank to increase benefits, rather than keep the status quo.

  • More Strikes Will Be Staged In December

So far the strikes have been restricted to selected locations, but the United Forum of Reserve Bank Officers and Employees is planning to stage a nationwide walk-out on December 2. That strike is scheduled to last for two days, but some believe the actions could go on indefinitely if the demands of the employees are not met.

There will be more localized action leading up to the larger strike, and employees are planning to dig in until the bank decides it will negotiate with the union. So far bank officers have been reluctant to negotiate, but in light of a nationwide walk-out, their opinion might change. Bank customers are advised to pay attention to news reports to stay informed about local and national walk-outs.

Money Bhaskar always has the latest banking news in Hindi at your disposal.

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3 Quality Control Functions Your Company Can Outsource
By financen | January 7, 2016 - 5:18 pm - Posted in Packaging

A successful business owner knows that they must focus their resources on their core competencies if they want to grow their business. For example, a wood pallet manufacturer would outsource their accounting services because hiring full-time accountants takes money away from making pallets. Within your own business, there are quality control functions you can outsource to professional organizations that will give you the best possible results, and help to save money at the same time.

Packaging Inspection

While it is not unusual for a manufacturing company to make its own packaging, it is a waste of resources to hire a staff of engineers designed to monitor those packaging services. You can outsource those services to a professional organization that knows all of the latest government laws regarding packaging, and can offer guidance on developing specialty packaging for hazardous or delicate materials.

Business Process Monitoring

Many companies hire business process experts that have advanced computer degrees and a comprehensive understanding of statistics. All of the functions of a business process monitor are essential to the success of any business, but those functions can also be done just as efficiently by a professional outsourcing organization. You can have your processes analyzed and suggestions for improvements made as efficiently by an outsourcing organization as you can from any in-house department.

Facility Energy Efficiency

When it comes to the energy efficiency of a commercial facility, many managers simply rely on the maintenance crew to keep things under control. Despite the maintenance staff’s best efforts, a lot of money is wasted every year due to inefficient systems and equipment the company uses each day. The solution is to bring in an independent energy auditor every year to help improve efficiency, and reduce the costs of operations. While you would not be replacing any of you current staff, you will be making an investment that will save your company money every year.

When you utilize the right kind of outsourcing professionals, then you are able to focus on the things that your company does best. Bringing experts will save you money in administrative costs, and it will also save you money in ongoing operational costs. When you can get expert service for a fraction of the cost of hiring your own expert staff, then that is something you should be taking advantage of.

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Health Tips with insurance guide
By financen | - 3:55 pm - Posted in Insurance

health tipsImage source: http://www.icicilombard.com

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