State-owned airline Air India will get only Rs 80 crore as additional budget support in the current financial year from the government – way below its demand of Rs 2,200 crore.

This is despite the fact Air India’s chairman and managing director Ashwani Lohani had written to the government that lack of funds might derail the turnaround process of the airline. “The finance ministry accepted the civil aviation ministry’s argument that additional fund was necessary for the airline but expressed its inability to accept the full demand,” said a senior civil aviation ministry official.

MUMBAI: As the tussle between Cyrus Mistry and Ratan Tata gets closer to the crucial EGM, the workers union at the company's Pune plant are rooting for Ratan Tata’s writ to run..

Their grouse against Mistry is that even after 15 months and 17 meetings with the management, the wage agreement for various plants in Pune is yet to be finalised. The clause on the proposed 'performance linked pay' mooted under Mistry’s regime, is the main point of dispute.

Ravindra Jadeja ripped the heart out of England's batting order to bowl India to a thumping innings and 75-run victory in the fifth and final test on Tuesday. The left-arm spinner claimed seven of the 10 English wickets that tumbled in the final two sessions as India completed an emphatic 4-0 series win.

Ravindra Jadeja ripped the heart out of England's batting order to bowl India to a thumping innings and 75-run victory in the fifth and final test on Tuesday. The left-arm spinner claimed seven of the 10 English wickets that tumbled in the final two sessions as India completed an emphatic 4-0 series win.

Domestic digital payments platform FreeCharge on Tuesday launched an e-wallet protection plan for all its users.

The facility, in partnership with Reliance General Insurance Company Limited, will be offered free of cost to all FreeCharge users, the company said.

New York: Another day, another moment to be in awe of Facebook’s ruthless genius.

Facebook on Monday announced a way for people to use its Messenger texting app for group video calls. You may recognize this feature from the many other digital hangouts for multiparty web video calls, like Microsoft Corp.’s Skype and Facebook’s own WhatsApp.

Railways on Monday said that it will provide 10 per cent rebate on any seat left vacant after the preparation of the chart.

According to the Railways Ministry, the decision was taken after the review meeting on “Flexi fare”, which was launched in September.

After a four-day fall, the benchmark Sensex recovered over 53 points on fresh buying by investors in blue-chip stocks despite a weak trend in Asia.

The 30-share index, which had lost 323.12 points in the previous four sessions, recovered 53.28 points, or 0.20 per cent, at 26,427.98.

NEW DELHI: Finance Minister Arun Jaitley today said the Axis BankBSE -1.26 % management has assured the government that it is taking action against erring officials who are involved in irregularities post demonetisation.

The minister further said the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) are keeping a watch on the activities on bankers, and the top management of banks has been advised to take action against delinquent officials.

The Reserve Bank was fully prepared to deal with currency shortages post demonetization and has enough currency in its chests to last "far beyond" December 30, Finance Minister Arun Jaitley said.

"There was full preparedness. There was not a single day when RBI had not released adequate currency to banks. There was a certain level of currency that was to be released and there was full preparedness for it," Jaitley told reporters.

The change in the US Federal Reserve’s dot plots that now suggest more rate hikes in 2017 doesn’t seem to have made any material change to the Reserve Bank of India’s (RBI) monetary policy canvas.

Analysts still expect RBI to prune its repo rate in February by a quarter percentage point, and the monetary policy committee (MPC) will be only too happy to vote unanimously again.

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