These are the cities where freshers have high scope in blue & grey collar jobs in India

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The demand of blue and grey collar jobs in India has been increasing over the years. Billion Careers, quoting data from its job recruitment platform Qjobs (a vertical of Quess Corp),  indicated that the number of vacancies for blue and grey collar jobs in India grew four-fold between 2021 and 2022.

Interestingly, the industry has high scope for freshers in the blue and grey collar segment. As per the data, the salaries of entry-level (fresher) hires in certain job roles and cities exceeded that of experienced employees.

As per the data in the industry, newly-recruited delivery executives get more payment than experienced ones in some cities.

“The report reveals a promising landscape for freshers but a challenging terrain for experienced employees. English language proficiency, multitasking capabilities, computer skills, and soft skills such as communication, problem-solving, and time management are highly valued in these roles,” said Amit Nigam, Chief Executive Officer, Billion Careers, said.

South pays the most

The data further highlighted that food, retail, and e-commerce delivery boys constitute a major portion of the blue and grey collar workforce. The data provided on the average salaries of the delivery workforce emphasised the role of experience in determining the salary of a delivery worker, with those having four or more years of experience earning higher salaries on average ranging from Rs 2.24-3.68 lakh per annum.

Moreover, the data revealed significant differences in salaries across various cities, with delivery workers in Bengaluru and Chennai earning relatively higher salaries than those in Mumbai and Kolkata. Additionally, in Hyderabad, the data suggest that delivery workers with 4-plus years of experience earn higher salaries than their counterparts in other cities with similar experience levels.

The average salary for delivery workers does not always increase steadily with experience, which is evident in the case of Delhi, where the average salary for a worker with 1-3 years of experience is lower than that of freshers.

Overall, the data suggested that the delivery workforce in South India generally get higher salaries than in the North, especially for fresher and mid-level (1-3 years of experience) delivery workers.

Trends in customer care

In the customer care sector in Kolkata, salaries for freshers is higher than those with 1-3 years of experience, while in Mumbai, Pune, and Delhi, salaries increase with experience.

The highest salaries for customer care professionals in Bengaluru (Rs 2.64 lakh p.a.) and Hyderabad (Rs 2.63 lakh p.a.) are offered to those with 4-plus years of experience. Salaries also vary within each city based on experience levels, with Hyderabad having the lowest average salaries for freshers and Bengaluru having the highest for the experienced.

For telecallers, Chennai — with Rs 2.12 lakh per annum — offers the highest average salary for freshers; Bengaluru offers Rs 2.07 lakh for those with 1-3 years of experience; and Mumbai offers Rs 2.47 lakh for those with four or more years of experience.

In terms of average salary across all experience levels, Bengaluru has the highest, followed by Mumbai and Chennai, while Hyderabad has the lowest.

Overall, experienced job seekers may prefer Bengaluru and Mumbai for higher salaries, while freshers may prefer Chennai, added the report.

Experience has a greater impact on salaries for customer care professionals than for telecallers, as per the data. Additionally, salaries for telecallers are generally lower than for customer care professionals across all cities.

Field sales and back office executives

The data shows that the average salary for field sales executives in Bengaluru is the highest among all cities, ranging from Rs 2.30 lakh per annum for freshers to Rs 2.63 lakh for those with four years or more experience.

Chennai, Hyderabad, and Mumbai have slightly lower average salaries compared to Bengaluru, with a range of Rs 2.24 -2.57 lakh per annum while Delhi and Pune have the lowest average salaries at Rs 2.12-2.48 lakh per annum.

In general, salaries tend to increase with experience — with field sales executives with 4-plus years’ experience earning the highest average salary in all cities.

However, the difference in average salaries between freshers and experienced field sales executives is not very significant overall, with the gap being less than 10 percent in most cities, except for Pune, where it is over 10 percent.

Salary trends for back office executives vary significantly, depending on both the city and experience. Mumbai offers the highest average salary for back office executives (Rs 3.12 lakh per annum) with more than four years of experience possibly due to the presence of many large corporations and financial institutions in the city, the report stated.

Kolkata, Pune, and Bengaluru showed a similar salary trend across all experience levels, suggesting that there may not be a significant difference in demand for back office skills at different experience levels in these cities. In terms of fresher back office executives, Chennai, at Rs 2.46 lakh per annum, offered the highest average salary, while Hyderabad with Rs 1.80 lakh per annum offered the lowest.

Also read: Nearly half a million blue-collar workers to be hired in India this festive season, says report

The highest wage levels are offered by the legal, IT, healthcare, telecom, and customer service job categories.

The data further showed that 60 percent of all the grey and blue collar hires were ‘freshers’ with a prior job experience of 0-3 years. Their monthly wages varied from Rs 8,000 to Rs 25,000 on average.

The metro areas with the highest demand for blue and grey collar jobs were Delhi, Bengaluru, and Mumbai.

“As the Indian economy transitions into a digital age, recruiters are seeking blue and grey collar workers with expertise in analytical and digital skills, such as machine learning, robotics, 3D printing, and artificial intelligence,” the firm said.

Also read: Social issues, lack of flexible work hours key reasons for gender gap in blue collar jobs, says Deloitte survey

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Mahindra and Mahindra winds up Bangladesh business

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian auto major Mahindra & Mahindra (M&M) on Tuesday said Mahindra Bangladesh Private Ltd (MBPL) has been liquidated and has ceased to be in existence with effect from March 14, 2023.

MBPL has ceased to be a subsidiary of the company with effect from March 14, 2023, the company said in a regulatory exchange.

“…we would like to inform you that Mahindra Bangladesh Private Ltd, which is a wholly-owned subsidiary of Mahindra & Mahindra Ltd, had convened the final extraordinary general meeting of its shareholders on March 14, 2023 and approved the final voluntary winding up of MBPL,” it said.

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According to M&M, MBPL had nil income from the operations of the company as of March 31, 2022. The net worth of MBPL, as on March 31, 2022, was  3,63,04,712 takas (Rs 3,18,82,798) constituting 0.01 percent of the consolidated net worth of the company.

The shareholders of MBPL, at a meeting held on September 14, 2022, had passed a resolution proposing the winding up of the unit and the appointment of a liquidator for completing the process.

The company incorporated MBPL as its wholly-owned subsidiary in 2019 to carry out multiple activities, including distributing and R&D of all kinds of passenger, transportation, and utility vehicles. MBPL was incorporated in Dhaka, Bangladesh under The Companies Act (Act XVIII) of 1994 of Bangladesh.

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Goa government to resume free pilgrimage scheme from April

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Goa government’s scheme ‘Mukhyamantri Devdarshan Yatra Yojana’ which offered free pilgrimage to persons above 50 years of age will resume from next month, said state social welfare minister Subhash Phal Desai.

Desai said the scheme would resume in April as the budget allocated for the scheme for this fiscal was exhausted.

He said the social welfare department had received 12,000 applications from people who wanted to avail the scheme. “These applications will be scrutinised thoroughly and will be sanctioned in April during the new fiscal,” Desai said.

Some people who have already availed the scheme have reapplied for it. However, the scheme can only be availed once and such applications will not be entertained, he said.

The scheme, which was launched in November 2022, offers free pilgrimage to holy places, including Shirdi (Maharashtra), Velankanni (Tamil Nadu) and Tirupati (Andhra Pradesh). It had been suspended since the last one month.

With PTI inputs

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PNB partners with warehousing body to facilitate finance to farmers

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Public sector lender Punjab National Bank (PNB) has entered into a Memorandum of Understanding (MoU) with Warehousing Development & Regulatory Authority (WDRA). This will promote financing against Electronic Negotiable Warehousing Receipt (e-NWR), PNB said in a statement.

“The partnership is aimed to provide information to farmers/depositors of agriculture produce about the benefits of e-NWR besides doing further outreach activities to improve agricultural pledge finance in India,” it said.

The MoU was signed in the presence of Atul Kumar Goel, Managing Director and CEO of Punjab National Bank and T. K. Manoj Kumar, IAS Retd, Chairperson WDRA.

The e-NWR financing is considered to be a game changer in shaping the rural economy by preventing distress sale by farmers and helping them in realising better price for their produce.

The system has several benefits, being the only negotiable warehousing instrument.

“The process is fully digitized and comes with benefits like online lien marking, non-issuance of e-NWR above the capacity of warehouse and issuance of e-NWR only when scientific storage norms as stipulated by WDRA are fulfilled,” PNB said.

In 2021, the Reserve Bank of India (RBI) increased the limit for loans against NWRs from Rs 50 lakh to Rs 75 lakh per borrower.

Earlier this month, PNB also signed a Memorandum of Understanding (MoU) with Central Warehousing Corporation to facilitate financing under e-NWR.

Agriculture is an important sector of the country’s economy and government has been focusing on increasing the income of the farmers who drive this segment. One of the main constraints in increasing farm income has been distress sale by the farmers. With a view to curbing the same, the bank said, it entered into the partnership.

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HCC-Megha Engineering joint venture bags Rs 3,681 crore contract from NHSRCL

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Engineering firm Hindustan Construction Company (HCC) on Tuesday, March 14, said its joint venture with Megha Engineering & Infrastructures has received a Rs 3,681 crore award from the National High-Speed Rail Corporation Limited (NHSRCL) for the construction of the Bandra Kurla Complex Station of the 508.17 km-long Mumbai-Ahmedabad High-Speed Rail.

The scope of the work envisages the construction of six platforms, and each platform is approximately 414 m, sufficient to accommodate a 16-coach bullet train. The station will have connectivity with the metro and road transport.

The Rs 3,681 crore project will include building a high-speed bullet train station, a cumulative floor area of approximately 2,00,000 sqm and will house amenities including waiting areas, a business-class lounge, a nursery, restrooms, smoking rooms, and information kiosks. The project is expected to help HCC expand its portfolio and establish a foothold in the high-speed rail construction industry.

“This station is the only underground station on the Mumbai-Ahmedabad High-Speed Rail corridor, and it is planned at a depth of about 24 m below the ground level. The station will have a total of three floors,” the company said in a statement.

In December 2022, Megha Engineering and HCC, in a joint venture, had emerged as the lowest bidder for BKC Bullet Train Station.

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After Oscar win, tourists throng Tamil Nadu camp to see stars of The Elephant Whisperers

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Tourists are thronging the Theppakadu Elephant Camp in Mudumalai Tiger Reserve in Tamil Nadu to meet the baby elephant featured in this year’s Oscar winner The Elephant Whisperers. The short documentary followed a family that adopted two baby elephants.

Directed by Kartiki Gonsalves and produced by Guneet Monga, The Elephant Whisperers won the Oscar in the Best Documentary Short Film category on Monday.

Besides meeting with ‘Raghu’ and ‘Ammu’, the two elephant calves, the couple is witnessing a visitor rush since the Oscars win. The documentary shows that the two orphaned elephants were adopted by Bomman and Bellie, members of Tamil Nadu’s Kattunayakan tribe.

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“I am from London, we visited here and got to know that two baby elephants from here won an Oscar last night. It is nice to see them, and I really enjoyed seeing them. Elephants are my favourite animal. I am very lucky to see them today,” a tourist told the news agency ANI.

But it’s not just international visitors setting a date with the elephants. Domestic travellers are also hoping to catch up with internationally famous elephants. “This is the first time I am visiting the Theppakadu Elephant camp. The only idea is to meet the elephants Raghu and Ammu and, if possible, chat with Bomman and Bellie,” a tourist from Kerala’s Thiruvananthapuram told the news agency IANS.

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The Theppakadu Elephant Camp was established in 1917 and currently houses 28 elephants. These elephants are trained to become kumki or koomkie, tamed elephants that are then used to herd, calm and capture wild elephants that need to be shepherded away from crowded areas or in need of medical aid. While the practice has been criticised by some activists, the use of kumki elephants is prevalent in areas with a large number of the world’s largest land mammals.

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Markets extend losses | HDFC Life, ICICI Prudential, ICICI Lombard among insurance stocks hitting 52-week lows

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Three insurance stocks hit their 52-week lows on the National Stock Exchange (NSE) on Tuesday, March 14. This included HDFC Life Insurance, ICICI Prudential Life Insurance and ICICI Lombard. Insurance firms namely SBI Life Insurance, Life Insurance Corporation (LIC) and New India Assurance were near 52-week lows.

HDFC Life Insurance hit the 52-week low of Rs 468.75. It, however, closed the session 7.85 points lower at Rs 471.10 apiece.

Shares of ICICI Prudential hit the 52-week low of Rs 386. It closed the session 5.80 percent lower at Rs 386.90 apiece. On the other hand, ICICI Lombard hit 52-week low of Rs 1,052.25 apiece.

SBI Life, meanwhile was 40 points away from reaching its 52-week lows. LIC was 10 points away and New India Assurance was 20 points away.

Overall on NSE, a total of 235 stocks hit their 52-week lows. This included Cipla, Tata Consumer Products Limited, Suven Life Sciences Limited, Pfizer Limited, Page Industries, Motilal Oswal Finnacial Services Limited, among others. Alternatively, 17 stocks including Binani Industries Limited, Sonata Software Limited, Usha Martin Limited hit their 52-week highs.

Meanwhile, the Sensex fell 338 points to close lower at 57,900, and the Nifty fell 111 points to end at 17,043. The Nifty Bank slipped 153 points to 39,411, and the mid-cap index fell by 157 points to 29,949. Several heavyweights dragged the Nifty down, including TCS, Infosys, Kotak Bank, and ITC.

Analysts said relentless foreign capital outflows, investors junking riskier assets and weakness in the rupee against the US dollar hit the market sentiment.

According to Ajit Mishra, VP – Technical Research at Religare Broking Ltd, markets are dancing to the global tunes.

“Indications are in the favor of some breather after the recent slide but the upside seems capped too. Meanwhile, participants should stay light and focus more on risk management,” he said.

Echoing similar views, Siddhartha Khemka, Head – Retail Research at Motilal Oswal Financial Services Ltd said that markets are likely to remain under pressure in the near term, as the US banking crisis deepens with more and more US banks coming under the cloud.

“Now all eyes will be on the US inflation data that will be released late on Tuesday and would be key factor for the Fed’s decision on interest rate in its upcoming meeting amidst the ongoing banking turmoil,” he said.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Maruti Suzuki among top Nifty 50 gainers after parent increases stake

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Japanese auto major Suzuki Motor Corporation (SMC) has increased its stake in Indian subsidiary Maruti Suzuki India Ltd (MSIL) to 56.48 percent by purchasing shares from the open market.

Suzuki acquired 3.45 lakh shares of Maruti worth Rs 300 crore from the open market. The last instance of Suzuki purchasing stake in Maruti was back in June 2020.

Suzuki signed a joint venture agreement with Maruti Udyog, the predecessor of Maruti Suzuki in 1982 and rolled out its first car — Maruti 800 — in December 1983.

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An increase in stake from promoters usually increases confidence of investors in a stock.

Maruti targets recovering back its lost market share in the UV segment with a focus to regain SUV market leadership in the next financial year.

The company’s recent launches of Grand Vitara, Jimny and Fronx are seeing good demand and are expected to aid its UV market share improvement.

What also augurs well for Maruti is the BS-VI Phase II transition, which is likely to further shift customer preference towards diesel variants.

Maruti is also targeting multiple fuels to achieve its emission targets with its first Electric Vehicle likely to be launched in 2025.

Brokerage firm Citi has highlighted Maruti Suzuki as its top pick in the auto sector. The brokerage believes that the company’s market share has bottomed out and that it would receive a boost from the new UV models.

Citi also expects the semi-conductor supply chain issues to ease over the slightly longer term. “However, possible introduction of the mandatory 6-airbag norm (currently in draft stage) could result in higher costs for entry-level hatchbacks,” the note said.

EV launches from financial year 2025, followed by hybrids, flex fuel and CNG, will be the key focus areas to reduce emissions, according to Citi. The brokerage has a price target of Rs 12,500 on Maruti.

Shares of Maruti Suzuki are trading 1.7 percent higher at Rs 8,658.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

SVB news: Silicon Valley Bank listed ‘senior manager, financial crimes’ job just before shutdown

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Just before being shut down by regulators on Friday, March 10, Silicon Valley Bank had posted a senior manager, financial crimes job listing.

The job description stated that the employee would have to act as a subject matter expert when it came to interpreting regulatory change, which was related to the different due diligence processes to include enhanced due diligence and customer due diligence processes.

“This position within Client [Bank Secrecy Act] Risk assesses Prospective client [Bank Secrecy Act]/[Anti-Money Laundering] risks pre-onboarding to approve or decline the Prospect as well as review Clients who may pivot during their relationship and require approval throughout the client’s relationship,” the job description stated, reported Fox Business.

California-based Silicon Valley Bank, the 16th largest bank in the US, was shut down on March 10 by the California Department of Financial Protection and Innovation which later appointed the FDIC as its receiver.

SVB was deeply entrenched in the tech startup ecosystem and the default bank for many high-flying startups; its abrupt fall marked one of the largest bank failures since the 2008 global financial crisis.

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The bank failed after clients — many of them venture capital firms and VC-backed companies that the bank had cultivated over time — began pulling out their deposits, creating a run on the bank (among the biggest US bank runs in more than a decade). Bank runs occur when customers or investors gripped by panic start withdrawing their money, causing the bank to be incapable of paying its obligations as they come due.

The roots of SVB’s collapse stem from dislocations spurred by higher rates. As startup clients withdrew deposits to keep their companies afloat in a chilly environment for IPOs and private fundraising, SVB found itself short on capital. It had been forced to sell all of its available-for-sale bonds at a $1.8 billion loss, the bank said late Wednesday.

The United States regulators on Sunday night cleared a plan for the Silicon Valley Bank (SVB) to protect depositors and assured that no losses would be borne by the taxpayers. The Joe Biden administration announced that depositors of the SVB will have access to their money from Monday.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

GATE 2023 Result on March 16: Check how to view scores and other details

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian Institute of Technology, Kanpur, will declare the Graduate Aptitude Test in Engineering (GATE) 2023 Result on March 16. Candidates will be allowed to download their respective scorecards from March 21.

Here is how to check GATE 2023 results online

Step 1: Go to gate.iitk.ac.in, the official website of the GATE exam.

Step 2: Find and click on the link that reads, ‘GATE 2023 RESULT’ (Once released) displayed on the homepage under the ‘notifications’ banner.

Step 3: A new login page will appear on the screen for candidates to enter the credentials and log in to the portal.

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Step 4: Once logged in, the GATE 2023 Result will appear on the screen.

Step 5: Check your GATE 2023 result carefully and save it for future reference.

The GATE final answer key will also be available on the official website once the results are declared.

The GATE results will be declared based on normalised marks and as per the normalisation policy, the raw marks obtained by candidates in different sessions will be converted into GATE scores.

The GATE scores will be valid for three years for all candidates from the date of the announcement.

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The IIT Kanpur conducted the GATE 2023 exam on February 4, 5, 11 and 12, across the country via computer-based test (CBT) mode.

The response sheet of candidates was released by IIT Kanpur on February 15, and the provisional answer key was released on February 21.

Through GATE, the shortlisted candidates will be offered admission to master’s and doctoral programmes in various courses like engineering, technology, architecture, science and arts and they will also become eligible for recruitment at Public Sector Undertakings (PSUs) in the country.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow