India News

Govt asks Air India to put new flights, promotions on freeze

Even as the process for disinvestment of national carrier Air India is already set in motion, the government has asked the airline management to start new flights only if it is extremely necessary after due diligence of commercial interest.

The airline has also been asked to put a freeze on large-scale appointments and promotions.

Expect more lending rate cuts as RBI nudges banks

Bankers may be forced to reduce the lending rates further, with Reserve Bank of India governor Shaktikanta Das stressing that the rates are not moving in tandem with cuts in the policy rate.

The central bank has slashed the repo rate by 0.75%, but banks have reduced rates only by 0.1% to 0.2% during the calendar year 2019, Das said in a pre-policy meeting with bank chiefs last week. The RBI's monetary policy is scheduled to be unveiled on August 7.

RIL to start production at 3 new blocks by mid-2020

To reverse the decline in production of natural gas fields in KG-D6 block in Bay of Bengal, Reliance Industries (RIL) said it is likely to start production at the three new sets of discoveries in the block by mid-2020.

The production decline in the blocks over the years has brought it to 'late life stage' though it has not plummeted to an all-time low.

Lightening kills 32 in Uttar Pradesh on Sunday

As many as 32 people were killed in Uttar Pradesh due to lightening on Sunday, said officials.

A day earlier, the lightening had claimed one life in the state, while two others had died of snake bites on July 18 and 20 respectively, the statement said.Thirteen 13 others were injured due to lightening, the statement added.

Oil price to rise? Millions of barrels of Iran oil piled up in China ports

Tankers are offloading millions of barrels of Iranian oil into storage tanks at Chinese ports, creating a hoard of crude sitting on the doorstep of the world's biggest buyer.

Two and a half months after the White House banned the purchase of Iran's oil, the nation’s crude is continuing to be sent to China where it's being put into what's known as "bonded storage," say people familiar with operations at several Chinese ports.

Female suicide bomber hits hospital in Pakistan, at least 9 killed

At least nine people, including six policemen, were killed and around 40 others injured in northwest Pakistan on Sunday in a terror strike on a checkpost and a subsequent suicide blast by a burqa-clad woman at a hospital where the victims of the first attack were shifted.