Uttarakhand News : Government Announces 10% Increase in Allowances for 25,000 Ex-Servicemen Employees

Uttarakhand News: The government of Uttarakhand has approved a 10% increase in allowances for around 25,000 employees associated with the Ex-Servicemen Welfare Corporation. The decision comes in response to the ongoing agitation by employees facing uncertainty regarding temporary job cessation, affecting various government departments, including hospitals, education, energy corporations, and the forestry department. The move aims to address the concerns of the employees and ensure a secure future for those engaged in temporary positions.

Additional Measures Considered for the Well-being of Ex-Servicemen Employees

Apart from the allowance increment, the government is contemplating declaring the positions of employees engaged in temporary roles as surplus. This step is taken to safeguard the interests and ensure job security for those currently working on a contractual basis. The decision reflects the government's commitment to supporting ex-servicemen employees during challenging times and addressing their demands positively.

Transition from a Savings to an Investment Mindset Impacts Liquidity in Banks

In a broader economic context, there is a noticeable shift in consumer behavior from a savings mindset to an investment mindset. This shift is influencing the liquidity in banks as more individuals are opting for mutual funds over traditional savings accounts. According to Adhil Shetty, CEO of BankBazaar, this change in consumer behavior is impacting liquidity in banks, leading to expectations of increased demand for short-term deposits and potential adjustments in interest rates. The Reserve Bank of India's tight liquidity stance is also contributing to this scenario, affecting the overall dynamics of the financial sector.

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