Around 120 pilots exit Air India over salary, promotion demands : Bulletin: Business Today
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Around 120 pilots exit Air India over salary, promotion demands

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October 14, 2019

World Bank cuts India's growth projection to 6% from 6.9%

After a broad-based deceleration in the initial quarters of this fiscal year, India's growth rate is projected to fall to 6 per cent, the World Bank said on Sunday. In 2018-19, the growth rate of the country stood at 6.9 per cent. However, the bank in its latest edition of the South Asia Economic Focus said the country was expected to gradually recover to 6.9 per cent in 2021 and 7.2 per cent in 2022.
 
Amid lockdown, PM Modi assures Kashmir situation will normalise in four months
Indian Prime Minister Narendra Modi on Sunday said it would take four months for Jammu and Kashmir to return to normal after his government stripped the state of its special status in August and imposed harsh restrictions. At a rally in the western state of Maharashtra, Modi said that his government had taken necessary steps to maintain security in Jammu and Kashmir.
 
Disgruntled pilots exit Air India over salary, promotion demands

Mass resignations rocked Air India as the government is exploring options to offload its stake in the debt-laden national carrier. Around 120 pilots of Air India have tendered their resignations due to discontent over salary and promotion, reports said. These pilots used to fly Airbus A-320 planes in Air India's fleet.
 
PNB, UBI, OBC merger: Outside expert may be roped in to decide logo of new entity

With three state-run lenders -- Punjab National Bank (PNB), United Bank of India (UBI) and Oriental Bank of Commerce (OBC) -- heading for an amalgamation, an outside expert may be engaged to decide the logo of the merged entity, an official said. The proposed merger, expected to be effective from April 1 next year, will lead to the creation of the country's second-largest lender after State Bank of India.
 
FPIs withdraw over Rs 6,200 crore from Indian capital markets in October so far

Foreign portfolio investors withdrew over Rs 6,200 crore from Indian capital markets in the first two weeks of October, as global recession fears and trade war concerns weighed on sentiments. Overseas investors were net buyers in the preceding month and had infused a net sum of Rs 6,557.8 crore in the domestic capital markets (both equities and debt), according to the data.
 
Eight of top 10 firms add Rs 80,943 crore in m-cap; RIL leads the way

Eight of the 10 most valued domestic companies together added Rs 80,943.32 crore in market capitalisation last week, with RIL taking the pole position.
Only Tata Consultancy Services (TCS) and ITC from the top-10 pack suffered losses in their market capitalisation (m-cap) for the week ended Friday.
 
Sourav Ganguly set to be new BCCI President; Amit Shah's son Jay Shah to become secretary

In a dramatic turn of events, former captain Sourav Ganguly emerged as consensus candidate to be BCCI's new President after Brijesh Patel appeared to have grabbed the coveted post. Union Home Minister Amit Shah's son Jay Shah will be the new secretary while Arun Dhumal will be the new treasurer.

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