State banks in India hit by walkout
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MUMBAI About one million employees of State Bank of India and its 26 state-owned rivals stayed away from work Tuesday in a nationwide strike for higher wages, the unions said.
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A family ownership battle at India's biggest private business conglomerate Reliance intensified after six directors of subsidiary Reliance Energy quit, sending group company shares tumbling.
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Demonstrators in India's revolt-hit Manipur state abandoned a long-running protest demanding the repeal of an anti-terror law allowing police to shoot on sight.
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Business & money: Bank admits it was warned on more than one occasion amid fierce criticism from shareholders
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Banks refuse cheques issued by Sri Jayendra Saraswathi's religious establishment.
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A march of hardliners creates fears of violence in the state of Maharashtra. Hundreds are already detained as a preventive measure and barricades are set up on roads.
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Expect massive write-downs as Vikram Pandit's Citigroup and other beleaguered banks try to start 2008 with a clean slate.
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Indian firm Reliance Retail temporarily closes its stores in West Bengal state after a spate of attacks.
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A dawn-to-dusk strikeÂ call to protest a tribunal order on sharing of river waters brought work at Bangaloreâs IT companies, including outsourcing companies, to a halt Monday.
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(InfoWorld) - The web site of Bank of India, one of India's leading banks, was restored early Tuesday. The bank had closed the site on Friday after it found that the site had been hacked, and was dispensing malicious code. Sunbelt Software Inc., a provider of security software in Clearwater, Florida, had on Thursday alerted users on its blog that the bank's site had been compromised, and advised them not to visit the site. Unidentified hackers had inserted malicious code into the bank's main web page, a senior employee familiar with the situation said on Tuesday, speaking on condition of anonymity. The bank's designated spokesman on this issue was not immediately available for comment. As a result, persons coming to the bank's web site were likely to be temporarily redirected to another site where Trojans and other malware were downloaded onto their computers, the employee said. The user was then brought back to the bank web-site. The bank's IT staff thought they had the situation under control Friday morning, until they found that each time they changed the index page for the web site, it was immediately replaced by the hackers. The bank then decided to bring the web site down. "The web site was hosted externally by a hosting company in the U.S.," the employee said. The bank has since changed the company hosting the service, though the employee clarified that the change in hosting provider had been on the cards even before the hacker attack. The attack on the web site did not however affect the bank's online banking operations, according to the employee. The bank's customers access online banking services through a link on the home page of the bank's web site. The online banking service is provided to users from well-protected servers hosted and monitored within the bank by Hewlett-Packard Co., the employee said. The bank is as yet not clear about the identity of the hackers, although Sunbelt suggested in its blog that it was a criminal gang, called the Russian Business Network (RBN). "We have called for the logs from the hosting provider in the U.S., and we may have some definite information then," the employee said.
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Monetary policy experts have started putting pressure on the Reserve Bank of India to stem the rupeeâs rise.
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India hits out at changes to the voting structure of the IMF after it sees its share of the vote decrease.
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Unrest hits output; workers fight plan to slash 12,000 positions, say losses due to mismanagement.
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: A bomb blast in Kathmandu caused slight damage to a bank today during a strike called by Maoist rebels that shut down much of Nepal as soldiers killed 12 guerrillas in gunbattles across the kingdom.
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Two German railway unions launched a campaign of limited walkouts Monday in a pay dispute with the national rail operator, causing disruption in parts of the country. via CFRB
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NEW DELHI: Banking operations came to a halt as the nation-wide one-day bank strike, called by nine major unions, began today to demand an early decision on the wage revision.
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Millions of bank customers have been left without money after cash machines broke down.