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Employees Union Vehemently Oppose Tamilnad Mercantile Bank’s New HR Policy
This one has been in the limelight since the early 90s when the Ruias of the Essar group bought a little over 65% shares, cashing in on the internecine feud between the four promoter groups. When Ruias found resistance to their entry into Tamilnad Mercantile Bank (TMB), they exchanged the shares with the serial entrepreneur C Sivasankaran for telecom licence for Delhi circle. But the going was tough for Sivasankaran too who was forced to return the shares to the Nadar community members, who could buy back only a part of his shares. Subsequently, 43% of the shares were reportedly acquired by a New York-based organisation using various local and foreign firms as fronts. This acquisition has since been disallowed by the Reserve Bank of India which had asked the Enforcement Directorate to probe foreign exchange violations in this case. This lot of shares remains a disputed one. Since then, much water has flown under the bridge, and TMB has also become a listed organisation. Now, TMB is back in the news now for a different reason, though. An unrest is apparently brewing over a new HR (human resources) policy which seeks to introduce the concept of CTC (cost to company). Opposing the move, TMB Employees’ Union, affiliated to AIBEA, has warned the management of industrial action. With key office-bearers of the union placed under suspension, the face-off at TMB appears to be escalating. TMB just can’t be out of the limelight, it appears!

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Editor’s Note: Short Post Noticed By People Who Matter

Four years have zipped by and we are crossing another milestone on 31st January 2025 – it’s our 4th Anniversary. It feels good.
Looking back at the 1460 days, I must say Short Post has made its mark with people who matter via 4000 stories published in the areas of politics, business, entertainment and sports. All made possible by the unflinching commitment and dedication of our senior editors, most of whom have been part of this journey from Day One.
Small pack, big impact is in essence the story of Short Post which was launched at the height of the Covid-19 pandemic in 2021. It shows our conviction. In all humility, I can say, we have created a new niche in the news segment space like Hindustan Unilever which created a new segment, when it launched CloseUp Gel.
Yes, we have created a brand (in a limited sense), created demand (readers) and created supply (senior journalists). But we are facing teething problems like all start-ups. What makes us happy and confident is the recognition of our efforts. For instance, we have an arrangement with the OPEN Magazine, part of the $4.5 billion Kolkata-based Sanjiv Goenka-RPG Group. This arrangement sees around 10 Short Post stories posted on OPEN Magazine website every week. This arrangement is testimony that our content has been well received! Also, I may add that the Maharashtra government has recognised Short Post and has allowed our senior editor to cover the Assembly sessions. Ditto: Odisha.
Our goal is to ensure that Short Post becomes a habit. I would like people to keep checking their smartphones to know the latest Authentic Gossip. As regards AI and the fear of it disrupting all businesses including media. On that, personally, I have no such fear as I am confident AI cannot smell news particularly Authentic Gossip. That’s the place we are well entrenched.