News Details

( 29/11/2017 08:16)
CIL weighs salary hike for execs, impact seen at Rs 800 cr

Coal India is considering hiking salary of its executives, which may cost the company about Rs 800 crore, reported PTI.

"The salary revision of Coal India (CIL) employees is under consideration and it will be done after observing due formalities," a company official privy to the development said.

The pay revision of nearly 18,000 executives of the PSU is due from January 1, 2017, the official said.

"The annual impact (from the proposed hike) is likely to to be to the tune of about Rs 800 crore," the official said, adding that the board is yet to approve the hike of the salaries of the executives.

State-owned Coal India had last month signed a wage pact with workers' unions for five years which, the PSU said, would have an estimated impact of Rs 5,667 crore annually on the miner.

Calling the signing of the wage agreement "a really historic day", Coal India CMD Gopal Singh had said they clinched the agreement at 20 per cent hike in salaries against the workers' demand of 50 per cent.

Coal India has nearly three lakh employees and the wage agreement was due from July 2016.

ATTENTION INVESTORS 1 : "No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case | 2 : "Prevent Unauthorized Transactions in your demat / trading account --> Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors. | 3 : KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.

SEBI Regn. NSE: INB231280430 I F&O: INF231280430 I BSE: INB011280436 I NSE CD: INE231280430 I MCX-SX: INE261280430

Copyright © 2017 Rikhav Securities Ltd. All rights reserved

Designed , Developed & Content Powered by DION