Government postpones privatization of Container Corporation of India Ltd (Concor)

An official has announced that the government has decided to postpone the privatisation of Container Corporation of India Ltd (Concor).

Background

In November 2019, the Union Cabinet approved a strategic sale involving 30.8 percent of Concor’s stake, including management control. Concor, a Navratna Public Sector Undertaking (PSU), falls under the Ministry of Railways.

Government’s Current Stake

The government currently holds a 54.80 percent stake in Concor. The official indicated that the government is unlikely to advance with the strategic sale due to concerns raised by both the Railways Ministry and potential investors.

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Lack of Progress

Despite the Cabinet’s approval in 2019, there has been no significant progress toward the sale. Notably, an Expression of Interest (EOI) for the strategic sale has not yet been issued.

Stock Market Update

Shares of Concor closed at Rs 1,043.25 each, reflecting a 0.35 percent increase over the previous day’s closing price on the Bombay Stock Exchange (BSE).

Politics started over PSU Bank collecting minimum balance charges

Recently, a data has been released regarding collection of minimum balance charges by banks. As per the data, public sector banks have collected approximately ₹8,500 crore in penalties over the past five years, starting from FY 2019-20. On July 30, Rahul Gandhi, the Leader of Opposition in the Lok Sabha, launched a strong critique of the government regarding the penalties imposed by public sector banks on customers for failing to maintain an average monthly balance. He characterized this “penalty system” as a means through which Prime Minister Narendra Modi’s “chakravyuh” is trying to burden ordinary Indians.

Financial Figures Revealed

The criticism follows a written reply in the Lok Sabha indicating that public sector banks have collected approximately ₹8,500 crore in penalties over the past five years, starting from FY 2019-20. Minister of State in the Finance Ministry, Pankaj Chaudhary, further disclosed that in FY24 alone, state-run banks imposed penalties totaling ₹2,331 crore on depositors for not maintaining the minimum average monthly balance.

Rahul Gandhi’s Critique

In a Hindi post on X (formerly Twitter), Mr. Gandhi condemned the government’s actions, stating, “During Narendra Modi’s amrit kaal, the ’empty pockets’ of common Indians are also being robbed. The government, which had forgiven ₹16 lakh crore of friendly industrialists, has recovered ₹8,500 crore from poor Indians who struggled to maintain even a minimum balance.”

Rahul Gandhi

@RahulGandhi

नरेंद्र मोदी के अमृतकाल में आम भारतीयों की ‘खाली जेब’ भी काटी जा रही है। मित्र उद्योगपतियों के 16 लाख करोड़ माफ कर देने वाली सरकार ने ‘मिनिमम बैलेंस’ तक मेंटेन न कर पा रहे गरीब भारतवासियों से 8500 करोड़ रुपए वसूल लिए हैं। ‘जुर्माना तंत्र’ मोदी के चक्रव्यूह का वो द्वार है जिसके ज़रिए आम भारतीय की कमर तोड़ने की कोशिश हो रही है। पर याद रहे भारत की जनता अभिमन्यु नहीं, अर्जुन है, वो चक्रव्यूह तोड़ कर आपके हर अत्याचार का जवाब देना जानती है।

Mr. Gandhi described the penalty system as a component of Modi’s “chakravyuh,” a strategy aimed at overwhelming and impoverishing common citizens. He contrasted the Indian populace with Abhimanyu from the Mahabharat, asserting that unlike Abhimanyu, who was trapped in the chakravyuh, the people of India are like Arjun, ready to confront and dismantle these injustices.

Metaphorical Imagery and Political Context

Using the metaphor of the ‘chakravyuh,’ Mr. Gandhi emphasized an atmosphere of fear and entrapment created by a select group of individuals, which he vowed would be dismantled by the INDIA bloc. During the Lok Sabha debate on Budget 2024-25, Mr. Gandhi pledged that the Indian National Developmental Inclusive Alliance (INDIA) would ensure the passage of a legal guarantee for Minimum Support Price (MSP) and a caste census.

Referencing the Mahabharat, Mr. Gandhi highlighted the historical context of the ‘chakravyuh,’ a complex military formation used to trap and defeat warriors. He likened this ancient strategy to the modern political and economic challenges facing India, suggesting that today’s ‘chakravyuh’ is symbolized by the lotus emblem of the BJP, with Prime Minister Narendra Modi at its center

Conclusion

Mr. Gandhi’s remarks underscore his view that the government’s policies and practices are designed to exploit and oppress the common people, drawing parallels between historical events and current political dynamics. His use of the ‘chakravyuh’ metaphor serves to frame his critique within a broader narrative of resistance and struggle against perceived systemic injustices

2 arrested for printing fake currency notes in Gwalior

The Gwalior Crime Branch has successfully uncovered a counterfeit currency factory operating in the heart of the city. During the raid, police arrested two individuals involved in the operation. Both suspects hail from Bhind district and had been renting a room in Janakganj’s Jagriti Nagar for the past six months, where they were producing fake currency notes in denominations of 50, 100, 200, and 500 rupees.

Extensive Counterfeiting Operation

Initial interrogations revealed that the suspects had produced fake currency worth over 6 lakh rupees within the last six months. They had already circulated approximately 4 lakh rupees of these counterfeit notes in the market. The police seized fake notes totaling 2,09,450 rupees from the room, along with partially completed notes worth 18,000 rupees. Additionally, the police confiscated various materials used in the counterfeiting process, including dies, color inks, scanners, printers, and butter paper.

Criminal Background and Further Investigations

The arrested individuals have a history of criminal activities, including fraud and motorcycle theft. They are currently in police custody for further questioning. The police are investigating the extent of their network and the duration of their operations.

According to Crime Branch ASP Shiyaz KM, the raid was conducted late Sunday night following a tip-off from an informant. The police first conducted a reconnaissance of the area before making their move. During interrogation, the suspects revealed that they had recently distributed fake notes worth 2 lakh rupees in Ashoknagar and were currently circulating counterfeit currency in Guna. One of the accused, Ansar Ali, is from Pawai village in Bhind, while the other, Ashok Mahour, hails from Dandroua Mau in Bhind. Ansar Ali already faces charges in four fraud cases and one vehicle theft case.

Motive and Method

The suspects disclosed that their primary aim was to circulate fake currency in Gwalior and nearby cities. They even sent a bundle of fake notes worth 2 lakh rupees to Sheopur. Ashok Mahour was known for passing off fake notes of 50, 100, and 200 rupees to small shopkeepers.

The crime branch’s swift action has brought a significant counterfeiting operation to a halt, and ongoing investigations will likely uncover more details about the network and its operations.

PSU Banks earned over Rs.8,500 crore due to minimum balance charges

Despite the State Bank of India, the country’s leading lender, deciding not to impose penalties for maintaining minimum balances in accounts after FY20, Public Sector Banks (PSBs) have seen a significant rise in penalty collections. Over the past five years, PSBs have increased their penalty collections by more than 34 percent, accumulating approximately ₹8,500 crore.

Collection Mechanisms by Public Sector Banks

According to data provided by Minister of State (Finance) Pankaj Chaudhary in response to a Lok Sabha query, 11 PSBs are involved in collecting penalties for not maintaining the required minimum balance. SBI has waived off minimum balance charges. Banks such as Punjab National Bank, Bank of Baroda, Bank of India, Punjab & Sind Bank, Union Bank of India, and UCO Bank enforce penalties based on the Quarterly Average Balance (QAB). In contrast, Indian Bank, Canara Bank, Bank of Maharashtra, and Central Bank of India impose penalties based on the Average Monthly Balance (AMB).

Penalty Structures for Savings Accounts

The penalty structures vary across different PSBs and account types. For example, Punjab National Bank mandates a minimum QAB of ₹2,000 in urban and metro areas, ₹1,000 in semi-urban areas, and ₹500 in rural areas. Failure to maintain these balances can result in penalties ranging from ₹100 to ₹250, depending on the location.

For current accounts, the minimum QABs required are ₹1,000 in rural areas, ₹2,000 in semi-urban areas, ₹5,000 in urban areas, and ₹10,000 in metro areas. Penalties for not maintaining these balances range from ₹400 to ₹600, again depending on the geographic area.

Penalty Structures for Canara Bank

Canara Bank’s website details the AMB requirements for savings accounts, which are ₹2,000 in urban and metro areas, ₹1,000 in semi-urban areas, and ₹500 in rural areas. Penalties for shortfalls range from ₹25 to ₹45, plus GST, depending on the amount of shortfall. For current accounts, the AMB requirements are ₹1,000 in rural areas, ₹2,000 in semi-urban areas, ₹5,000 in urban areas, and ₹7,500 in metro areas. Penalties for failing to maintain the required balance can be ₹60 per day, up to a maximum of ₹500 per month, plus GST.

Regulatory Recommendations

Chaudhary emphasized that banks are required to inform customers of the minimum balance requirements when opening an account and must notify them of any changes. If the minimum balance is not maintained, banks should inform customers of the applicable penalties and provide a one-month period to rectify the balance before charges are levied. He also stressed that penalties should not lead to a negative balance solely due to these charges

Now Banks will have to sanction home loan to individuals not having fixed income such as salary

In a groundbreaking development for the home loan sector, banks are set to adopt a new approach by including non-salaried individuals in their lending programs. This shift involves considering digital payments history as a key factor in loan evaluations, marking a significant departure from traditional salary-based assessments.

Challenges with Traditional Loan Assessments

Historically, securing a home loan has been difficult for those without a regular salary. Banks traditionally relied on stable, documented income streams to assess an applicant’s ability to repay a loan. This method often excluded freelancers, self-employed professionals, and other non-salaried individuals.

The Role of Digital Transactions

With the rise of digital transactions, financial institutions are now recognizing that a solid record of digital payments can serve as an effective indicator of financial stability. This change reflects a broader understanding of income sources beyond conventional salaries.

New Eligibility Criteria

Under the new policy, individuals who do not have a traditional salary but possess a consistent digital transaction history—such as freelance payments, rental income, or other forms of digital revenue—may now qualify for home loans. This policy aims to broaden access to home ownership by including freelancers, self-employed individuals, and small business owners.

Assessment Metrics

Banks will evaluate digital payment histories using various metrics, including transaction frequency, amounts, and patterns. This digital evaluation will be combined with traditional credit assessments to offer a comprehensive view of the applicant’s financial health.

Impact on the Home Loan Market

This progressive move seeks to address the needs of an increasing number of non-salaried individuals and reflects the evolving nature of income and financial management in the digital era. By incorporating digital payment histories, banks are expanding their customer base and adapting to the modern financial landscape.

Net Profit of all Banks in June 2024 Quarter, Check Bank wise list

Banks in India are releasing their financial results for June 2024 Quarter. Some banks have released their results while others are expected to release soon. We have compiled data of the net profit reported by banks in this quarter.

PSU Bank	Net Profit (Rs. crore)
PNB	3252
Punjab & Sind Bank	182
Canara Bank	3905
UCO Bank	550.96
Indian Overseas Bank	632.8
Union Bank of India	3641.78
Central Bank of India	942.42
Bank of Maharashtra	1295.09

Pvt Bank	Net Profit (Rs. crore)
IDFC First Bank	680.7
ICICI Bank	11059
Bandhan Bank	1063
IndusInd Bank	2171
City Union Bank	265
ESAF Small Finance Bank	63
Karnataka Bank	400.33
Ujjivan Small Finance Bank	301.08
DCB Bank	131
Axis Bank	6034.64
Federal Bank	1009.53
IDBI Bank	1719
HDFC Bank	16,474
YES Bank	502
RBL Bank	372
Kotak Mahindra Bank	6249
Karur Vysya Bank	458.65
South India Bank	293.90
Jana Small Finance Bank	171

Net Profit of other banks will be updated soon.

Punjab National Bank Q1 results: Net profit increases to Rs.3,252 crore

On July 27, public sector lender Punjab National Bank reported a net profit of Rs 3,252 crore for the quarter ending June 30, 2024, marking a 159 percent increase from the previous year. The bank’s net interest income reached Rs 9,504.3 crore, reflecting a 10.2 percent year-on-year growth. The bank’s gross non-performing assets (NPAs) decreased to 4.98 percent from 5.73 percent in the previous quarter. Additionally, the net non-performing assets (NNPA) improved to 0.82 percent compared to 5.73 percent a year earlier. Check Net Profit of all Banks June 2024 Quarter.

The state-owned bank reported a 4.4% year-on-year increase in savings deposits, reaching Rs 4,84,377 crore. Current deposits and CASA deposits amounted to Rs 64,702 crore and Rs 5.49 lakh crore, respectively, for the June quarter. The bank’s net non-performing assets (NNPA) fell by Rs 11,199 crore, totaling Rs 5,930 crore as of June 2024, down from Rs 17,129 crore a year earlier. Additionally, the bank announced in an exchange filing that its global business grew by 10.03% year-on-year, with global deposits increasing by 8.50% over the same period. Check Net Profit of all Banks June 2024 Quarter.

Other key highlights

• Slippage ratio improved by 43 bps YoY to 0.76% as of June 2024 from 1.19% as of June 2023.
• Credit Cost improved by 167 bps year-on-year to 0.32% in Q1FY25 from 1.99% in Q1FY24
• The total retail credit increased by 14.4% YoY to Rs 2.35 lakh crore in June 2024 and the bank grew under core retail advances recording a YoY growth of 15.5%.

Approx 50,000 small business closed resulting in 3 lac job loss: Govt data

Over the past decade, the closure of nearly 50,000 small businesses has resulted in over 300,000 job losses, according to the government. In a written reply, the Minister for Micro, Small, and Medium Enterprises (MSMEs), Jitan Ram Majhi, informed the Lok Sabha on Thursday that out of the million registered MSMEs, 49,342 have shut down, leading to the loss of 317,641 jobs. These job losses are part of a total MSME workforce of 181.6 million registered on the Udyam registration portal since its inception on July 1, 2020.

Details of MSME Closures and Job Losses

Minister Majhi stated, “Of these, 0.17% or 49,342 enterprises with employment of 317,641 de-registered or showed closure on the portal during the last ten years.” According to the latest annual Periodic Labour Force Survey (PLFS) reports, the estimated unemployment rate for persons aged 15 years and above was 4.2% in 2020-21, 4.1% in 2021-22, and 3.2% in 2022-23, as reported by the Ministry of Labour and Employment.

Regional Impact of MSME Closures

The data provided by Minister Majhi highlighted that Maharashtra experienced the highest number of MSME closures, with 12,233 businesses shutting down and resulting in 54,053 job losses. This was followed by Tamil Nadu (6,298 closures, 43,324 job losses), Uttar Pradesh (3,425 closures, 33,230 job losses), Gujarat (4,861 closures, 22,345 job losses), and Bihar (2,414 closures, 15,317 job losses). Madhya Pradesh, under BJP rule for over 19 years, saw the closure of 1,653 MSME units, leading to the loss of 11,727 jobs. Other regions affected include Delhi (947 closures, 8,210 jobs lost), West Bengal (1,548 closures, 8,856 jobs lost), and Kerala (1,336 closures, 12,672 jobs lost). The minister attributed these closures to various factors, including changes in company ownership, redundant certificates, and duplicate registrations.

Budgetary Measures to Support MSMEs

In her seventh budget speech on Tuesday, Finance Minister Nirmala Sitharaman announced several measures to boost the MSME sector. The budget emphasized financial and technological support for MSMEs, including a credit guarantee scheme for machinery loans without collateral, a self-financing guarantee fund offering up to ₹100 crore per borrower, and a new assessment model for MSME credit by public sector banks based on digital footprints. Additionally, the budget proposed enhanced credit support during stress periods to prevent MSMEs from becoming non-performing assets (NPAs), raised the Mudra loan limit to ₹20 lakh, and planned to open 24 new SIDBI branches in MSME clusters within three years. E-commerce export hubs will also be established in a public-private partnership (PPP) mode to help MSMEs and traditional artisans access international markets with a seamless regulatory framework.

Contribution of MSMEs to Exports and GDP

Currently, MSMEs contribute about 45% to the country’s total exports, according to a Global Trade Research Initiative (GTRI) report. However, experts believe there is immense scope to increase this share further. A report jointly published by Niti Aayog and the Foundation for Economic Development in March this year noted that exports remain an under-utilized opportunity for MSMEs, even as they are called the powerhouse of the Indian economy and contribute significantly to employment generation, exports, and overall economic growth. Citing data from the Udyam portal, the Niti Aayog report stated that despite the opportunity for MSMEs to pursue exports, only 0.95% of MSMEs are engaged in it. Out of the 15.8 million MSMEs registered on Udyam, only over 150,000 units claimed to export their goods and services.

Challenges in MSME Exports

In terms of MSME exports through the e-commerce route, data from GTRI showed that India significantly lags behind a comparable economy like China. GTRI data indicated that in 2022, MSMEs in China exported goods worth over $200 billion through e-commerce platforms, while India’s e-commerce export was barely $2 billion that year. The focus on MSME exports has gained momentum at a time when India’s merchandise exports dipped 3.11% year-on-year in FY24 to $437.06 billion, according to data from the Commerce Ministry.

Now you will have to pay more tax on property sale, Indexation Benefits removed by Govt

The government has announced a major update to the tax treatment of real estate. Indexation benefits, which adjust property values for inflation, will no longer apply to properties purchased after 2001. However, this benefit will still be available for properties bought before 2001. Alongside this change, the long-term capital gains (LTCG) tax on real estate will be reduced from 20% to 12.5%, with the goal of simplifying tax calculations.

What is Indexation?

Indexation is a method used to adjust the purchase price of an asset, such as property, to account for inflation over time. This adjustment helps in accurately determining the capital gains or profit made from selling the asset.

How Does Indexation Work?

To calculate the inflation-adjusted purchase price, you use the Cost Inflation Index (CII) published annually by the government. Here’s how it works:

1. Find the CII for the Year of Purchase: This is the index number for the year you bought the property.
2. Find the CII for the Year of Sale: This is the index number for the year you are selling the property.
3. Adjust the Purchase Price: Multiply the original purchase price by the CII of the sale year and divide by the CII of the purchase year. This gives you the adjusted purchase price reflecting inflation.

Recent Changes to Taxation Rules

Previously, property sellers in India could benefit from indexation to reduce their tax liability. However, recent changes have removed this benefit for properties purchased from 2001 onwards.

New Tax Rules

1. Long-Term Capital Gains (LTCG) Tax: Properties purchased in or after 2001 will now be subject to a 12.5% LTCG tax upon sale.
2. Removal of Indexation: The benefit of adjusting the property’s purchase price for inflation has been eliminated. This means that sellers can no longer adjust their purchase price to reflect current market conditions.

Impact of the Removal of Indexation

• Increased Tax Burden: Without indexation, the taxable capital gain is calculated based on the original purchase price, potentially leading to higher taxes despite the reduced LTCG rate of 12.5%.
• Holding Period Effects: The removal of indexation may result in higher taxes for properties held for shorter periods or with moderate price appreciation. However, for properties held for over 10 years with significant price increases, the impact may be neutral or slightly beneficial.

Example from CLSA

Brokerage firm CLSA provides an example to illustrate the impact:

• Old System: Under the previous rules, the indexed cost of acquisition was calculated using the CII.
• New System: Without indexation, taxes are calculated based on the original purchase price at the reduced rate of 12.5%. For properties held less than 10 years and with modest appreciation, the tax burden is higher under the new system.

Government’s Perspective

The Ministry of Finance has stated that the changes aim to simplify the tax system and benefit the middle class:

• Finance Minister Nirmala Sitharaman: The goal is to streamline taxation, reduce complexity, and encourage investment. The new rate of 12.5% is the lowest in several years, which is intended to make tax calculations more straightforward and less burdensome.

Conclusion

The removal of indexation means that property sellers will face higher taxes unless they reinvest in new properties, which can still offer tax exemptions. While the reduced LTCG rate of 12.5% is lower than before, the lack of indexation adjustment could result in a higher tax burden for many sellers.

Financial Fitness Survey: People are not financially prepared

How financially savvy do you consider yourself? Rate your financial acumen on a scale of 1 to 10. Ideally, you would score yourself higher than the average result from a recent survey conducted by Finnovate, a financial fitness platform. According to their survey, the average financial fitness score was only 5.29 out of 20. This suggests that many people might not be as financially prepared as they believe, despite the abundance of information available online about saving, investing, and planning.

Survey Details

The survey, which included 1,727 participants, was divided into four age groups: 18-30, 30-45, 45-60, and 60+. It assessed knowledge and habits in six key areas of personal finance: goal planning, budgeting and taxation, loan management, insurance planning, investment planning, and estate planning.

Key Findings

Nehal Mota, Co-Founder and CEO of Finnovate, commented on the results, highlighting a significant gap in areas such as retirement planning, appropriate investment deployment, and adequate insurance coverage. Despite some level of awareness regarding financial goals and net worth, the survey uncovered troubling gaps:

• Retirement Savings: While 63% of affluent individuals and High Net Worth Individuals (HNIs) in India have clear financial goals and 69% are aware of their net worth, 65% have not saved enough for retirement. This points to a concerning shortfall in long-term financial security.
• Emergency Funds and Tax Planning: Approximately 40% of respondents lack a sufficient emergency fund, and 27% have not effectively planned their taxes.
• Debt and Insurance: Only 38% of respondents are debt-free, with 31% of individuals aged 60 and above still managing EMIs. Additionally, 73% are either uninsured or underinsured for health, and 74% lack adequate life insurance, leaving them vulnerable to financial shocks.
• Investment and Financial Management: Although 81% invest in equities, 53% invest less than 30% of their savings in equity. Furthermore, 54% are unaware of the CAGR (Compound Annual Growth Rate) of their investments. Around 40% of respondents have not compiled their financial documents, with this number still at 26% among senior citizens. Additionally, 36% have not fully assigned nominees and beneficiaries to their assets.

Age-Specific Insights

Financial fitness scores were lowest among those aged 18-30, primarily due to inadequate planning. In the 30-45 age group, 58% invest less than 30% of their income, risking an insufficient retirement fund. The 45-60 age group also exhibits signs of inadequate savings and poor tax planning. For individuals over 60, 29% are unaware of their current net worth, which is crucial for managing post-retirement finances.

Financial Literacy Trends

Despite the wealth of resources available—such as online videos, social media events, and live investment workshops—there remains a stark gap in financial knowledge. Many still prefer investing in property and gold over financial assets like mutual funds and equities. A research paper by Priyadarshi Dash and Rahul Ranjan highlights that less than 4% of India’s population opts for mutual funds or equity-linked assets, with India having the lowest household exposure to equities compared to major global economies.

Regional Financial Literacy Index

According to the Financial Literacy Index (FLI) from the NSS 77th round of the All India Debt and Investment Survey:

• Low Literacy (<=0.33): Arunachal Pradesh, Assam, Bihar, Jharkhand, Manipur, Meghalaya, Nagaland, Uttar Pradesh.
• Medium Literacy (0.34 to 0.53): Andhra Pradesh, Chhattisgarh, Gujarat, Haryana, Jammu & Kashmir, Karnataka, Madhya Pradesh, Maharashtra, Mizoram, Odisha, Punjab, Rajasthan, Sikkim, Tamil Nadu, Telangana, Tripura, Uttarakhand, West Bengal.
• High Literacy (>=0.53): Chandigarh, Delhi, Goa, Himachal Pradesh, Kerala, Pondicherry.

Common Financial Mistakes

Nehal Mota identifies several common mistakes made by mass affluents and HNIs:

1. Investing without considering financial goals.
2. Inadequate term and health coverage.
3. Underperforming investments.
4. Not knowing the right benchmarks.
5. Poor planning for legacy transfer.

Reasons for Financial Fitness Gaps

Key reasons for lacking financial fitness include low awareness of financial products, not seeking professional advice in a timely manner, and disproportionate time and effort invested in speculative trading.

Importance of Financial Literacy

Financial literacy is crucial for making informed decisions, creating effective household budgets, planning savings, managing debt, and preparing for life events and emergencies without unnecessary debt. Government bodies like the Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority (IRDAI), along with industry groups, are actively conducting financial literacy programs. These initiatives aim to educate the public about various financial products and raise awareness through events across the country.

Delhi High Court Calls for Review of Maternity Leave Policy for Women Employees

In a recent development, the Delhi High Court has taken a significant step by urging the Central Government to reconsider its policy regarding maternity leave for women employees. The current regulation stipulates that women with more than two children are ineligible for maternity leave. This policy has faced increasing scrutiny and criticism, prompting the court’s intervention.

Court’s Recommendation

The court’s call for reevaluation highlights growing concerns about the fairness and inclusivity of the existing regulation. Critics argue that the policy disproportionately impacts women who already face numerous challenges in balancing family responsibilities with professional commitments.

Context and Implications

This move by the Delhi High Court is set against the backdrop of ongoing discussions about gender equality in the workplace and the need for more supportive measures for working mothers. The court’s recommendation underscores the importance of reassessing policies to ensure they reflect contemporary values and support the well-being of all employees.

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Future Considerations

As the Central Government deliberates on the court’s advice, it remains to be seen how this will influence the future of maternity leave policies. Potential changes could better accommodate the needs of women in the workforce and address the current policy’s shortcomings