Page 14 - Banking Finance April 2023

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Employment inches up in to protect investors from any specula- Process Management (BPM) sector
tive trading too. However, with re- holds the largest share of available
urban India
duced volatility, the stock moving out opportunities for women at 36 per
Unemployment rate in India increased of the ASM framework would mean cent as a consequence of the growing
to 7.45 per cent in February from 7.14 less stringent rules like the removal of focus on gender parity in the work-
per cent in January 2023. The number the 100% margin requirement for place. This is followed by IT/Comput-
of unemployed persons in the labour intraday traders. ers-Software (35 per cent), and Bank-
force increased from 31.5 million to 33 ing, Accounting and Financial Services
The group stocks had remained under
million. While the rise in unemploy-
pressure and volatile since the (22 per cent). There has also been a
ment rate was accompanied with a
Hindenburg report raised concerns significant increase in job postings for
small increase in labour participation women in sectors such as recruitment,
around the group on 24 January. The
rate, the employment rate in February
group, however, got a respite with the staffing or HRO (20 per cent share) and
remained at levels recorded in January.
US-based investment firm GQG part- hospital, healthcare and diagnostics (8
Urban India fared better than rural
ners investing Rs. 15,446 crore in four per cent).
India in terms of employment. Rural
Adani stocks. The same has helped re-
India experienced a significant increase
duce major concerns of the investors, 65 more obsolete laws be
in unemployment.
leading to the stock rebounding almost
repealed
23.5%.
Trading curbs lifted on Union Law Minister Kiren Rijiju said the
government would push a Bill in the
Adani Enterprises White-collar jobs for
Parliament session, which will resume
The National Stock Exchange will re-
women up 35% this year, on March 13, to repeal 65 more obso-
move Adani Enterprises Ltd from the
shows survey lete laws and other such provisions.
short-term additional surveillance
measures (ASM) framework. The com- The number of available jobs for Addressing the 23rd Commonwealth
pany had been put under the ASM women has surged 35 per cent year- Law Conference in Goa, the Minister
framework a month back, along with on-year in February 2023, indicating a informed that more than 4.98 crore
two other group stocks, following a growing demand for female workers in cases are pending in various courts in
massive sell-off post-Hindenburg re- the Indian white-collar economy, ac- India and the pendency would be
search levelling allegations against the cording to data released from employ- handled using technology, with a
group. ment website Foundit (formerly Mon- "paperless judiciary" being the ulti-
ster APAC & ME). mate aim of the government.
During the period of high volatility, the
exchange takes such measures as plac- According to online hiring trends, the "In every part of our country, every
ing stocks under the ASM framework Information Technology and Business citizen is a beneficiary of the welfare

12 | 2023 | APRIL | BANKING FINANCE