Pilots’ bodies at Tata Group-owned Air India have accused the airline management of making unilaterally “rapid” and “regressive” changes in the service conditions of pilots. In a letter to Air India Chief Human Resources Officer Suresh Dutt Tripathi on Tuesday, Indian Pilots Guild (IPG) and Indian Commercial Pilots Association (ICPA) also stated that “all unilateral violations of their rights and service agreements are creating industrial unrest and shattering employee confidence in the current management”. The communication comes amid Air India reducing drastically the annual limit of privilege leave accumulation to 60 days from 300 days earlier, as per a source.
Posts tagged Rediff
RBI likely to hike rate by 25 bps on Apr 6 (29-03-2023)
The Reserve Bank may go for a final 25 basis points increase in the current rate hike cycle next week and a reduction would come in only by the end of third quarter of FY24, economists at Axis Bank said on Wednesday. As per media reports, RBI officials met economists on Tuesday, and the latter have suggested the central bank to go for a 25 basis points hike in key rates. Since May 2022, the RBI has hiked rates by 250 basis points, hurting borrowers and some are already concerned about loan tenors extending beyond their working lives as a result of the hikes.
Adani group has paid off $2.15 bn share-backed loans (29-03-2023)
Billionaire Gautam Adani-led promoter group has paid off all of the $2.15 billion loans taken pledging their shares in the conglomerate, and only debt at operating company level remains, Adani Group said seeking to assure investors of its ability to repay debt. Adani Group in a statement termed reports of the group not completing repayment of $2.15 billion share-backed debt “baseless and deliberately mischievous.” “Adani has completed full prepayment of margin linked share-backed financing aggregating to $2.15 billion (as was announced on March 12) and all corresponding shares pledged for those facilities have been released,” it said.
Sensex rallies 346 points, Nifty nears 17,100 (29-03-2023)
Among the Sensex firms, HCL Technologies, Tata Motors, Hindustan Unilever, NTPC, IndusInd Bank, Bajaj Finserv, Bajaj Finance and Mahindra and Mahindra were the major gainers. Bharti Airtel, Reliance Industries, ICICI Bank and Asian Paints were the laggards.
Tribunal says Google to pay Rs 1337 cr fine in 30 days (29-03-2023)
The NCLAT on Wednesday upheld the orders of the fair trade regulator CCI imposing a penalty of Rs 1,337.76 crore on tech major Google in the Android mobile devices case, with some modifications.
Customers won’t be charged for normal UPI payments (29-03-2023)
National Payments Corporation of India (NPCI) on Wednesday said there is no charge for the bank account to bank account-based UPI payments or normal UPI payments.
SIP flow into MF AUM clocks fresh highs in February (29-03-2023)
Over 85 per cent of SIP AUM, or Rs 5.8 trillion, is in equity schemes, compared to just Rs 6,100 crore in debt.
Labour pains for Hyundai buyout of GM’s Talegaon unit (29-03-2023)
Legal battles initiated by 1,000-odd former employees of the Talegaon plant continue to present a challenge for the acquisition process.
Bill to reform H-1B, L-1 visa programme introduced (29-03-2023)
A group of influential lawmakers have introduced a bipartisan legislation in the US Senate to comprehensively overhaul the H-1B and L-1 visa programmes and usher in more transparency in the recruitment of foreign workers. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise. Technology companies depend on it to hire tens of thousands of employees each year from countries like India and China.
Record high prices to weigh on demand for gold (29-03-2023)
The demand for gold is expected to take a hit if the price of the yellow metal – which has been hovering around Rs 60,000, a level never seen before – remains elevated. Due to a sharp increase in price in a very short time and the flow of smuggled gold continuing, gold price in Mumbai is quoted at around Rs 59,000 per 10 gram. Typically, overall demand in the January-March and July-September quarters is moderate-to-dull, which is the case in the ongoing period.