DGCA grounds 11 GoAir, IndiGo aircraft with faulty engines
Directorate General of Civil Aviation (DGCA) has ordered the grounding
of 11 Airbus A320neo aircraft operated by budget carriers IndiGo and
GoAir that are equipped with Pratt & Whitney PW1100G engines with
certain serial numbers. The regulator's directive came just hours after
yet another mid-air incident. An IndiGo aircraft with the affected
engine on the Ahmedabad-Lucknow route developed a mid-air snag shortly
after take-off, that forced it to return to Ahmedabad. According to a
senior DGCA official, of the 11 planes to be grounded, eight are
operated by IndiGo and three by GoAir.
IIP rises to 7.5%, retail inflation eases to 4-month low of 4.4%
like the effects of demonetisation and Goods and Services Tax are
dissipating. According to a report in the Business Standard, industrial
activity expanded 7.5 per cent in January, up from 7.1 per cent in
December. This is the third straight month that industrial output has
expanded by more than 7 per cent. Retail inflation, measured by the
consumer price index (CPI), moderated to a four-month low of 4.4 per
cent in February, aided by a fall in the price of pulses and moderation
in vegetables, led by onion. Headline inflation is now lower than the
Reserve Bank's monetary policy committee (MPC)'s forecast of 5.1 per
cent for the March quarter. However, core inflation remains elevated at
above 5 per cent.
Farmers march to Mumbai to ask for help
of protesting farmers from Maharashtra marched into Mumbai to demand
government support to address hardship in a sector that employs the
majority of the country's workforce. The protesters walked 180 km from
the town of Nashik to Mumbai over several days demanding waivers of
agricultural loans and the transfer of forest lands to villagers who
have been tilling them for decades. It was the second major protest by
farmers in less than a year.
Andhra Bank's shares slide to a 15-year low amid fraud probe
Bank, already hurt by an industry-wide spillover of a huge alleged
fraud at PNB, saw its shares slide to a 15-year low on Monday after
authorities filed new complaints against a former director in a separate
case. The Enforcement Directorate said it had filed additional charges
against Anup Garg, a former director of Andhra Bank as reported by
Reuters. The charges were in connection with a more than 50 billion
rupee fraud case involving Sterling Biotech.
PM Modi, French Prez Macron join hands to work on world's largest nuclear plant in Jaitapur
President Emmanuel Macron, who is on a four-day visit to India, joined
hands with PM Modi to build the world's largest nuclear plant in India.
The leaders urged Electricite de France SA and Nuclear Power Corp,
India's atomic power producer to accelerate discussions on the project
that has continued for a decade now already. Work on the project is
likely to start by December at the site in Jaitapur, Maharashtra.
Supreme Court to auction unencumbered assets of Unitech to refund homebuyers
what could be another cause of worry for the beleaguered real estate
developer Unitech Limited, the Supreme Court said that it will auction
unencumbered assets of the embattled realty major. The apex court today
sought details of all unencumbered assets of Unitech. Coming as a relief
for Unitech homebuyers, the Supreme Court said the auctioned assets
will be used to refund money to home buyers.