Monthly Archives: August 2019

PSB mergers: Tech, HR synergy key challenges

The biggest challenge in implementing an amalgamation of public sector banks (PSBs) is the integration of technology platforms and managing HR & cultural issues, said bankers who have gone through a merger exercise.

Pakistani court issues bailable warrant for ex-PM Pervez Ashraf

A Pakistani court on Friday issued bailable warrants for former prime minister Raja Pervez Ashraf for alleged illegal appointments in Gujranwala Electric Power Company. Ashraf, 68, was denied one-time exemption from personal appearance by the accountability court in Lahore. The former premier’s counsel advocate Iftikhar Shahid told the court that his client was unable to travel to Lahore due to health reasons.

‘Kashmir Hour’ observed at noon across Pakistan

On Prime Minister Imran Khan’s appeal, Pakistanis observed “Kashmir Hour” on Friday across the country to protest against India scrapping the special status of Jammu and Kashmir on August 5. At noon, as sirens blared for “Kashmir Hour” across major Pakistani cities, all traffic signals turned red for several minutes. This was followed by broadcasts of the national anthems of Pakistan and part of Kashmir under its control on all TV and radio stations.

HAL-made Dornier 228 aircraft can now be used in Europe

In a first, a made-in-India plane can now be used for commercial regional flights in Europe. The Directorate General of Civil Aviation (DGCA) had in end of 2017 given type certification (TC) for Hindustan Aeronautics Ltd’s (HAL)-made Dornier 228.

IndiGo replaced one PW engine/week in last 2.5 yrs

In the last 2.5 years, IndiGo Airbus A320 Neos have on an average seen one faulty Pratt & Whitney (PW) engines powering these planes being changed every week. The Directorate General of Civil Aviation (DGCA) has in an RTI reply said 126 PW engines on IndiGo Neos have been replaced from 2016 to June 30, 2019.

Growth slowdown due to local, global factors: CEA

Attributing the slowdown in GDP growth to domestic and global factors, chief economic adviser K V Subramanian on Friday said the government is taking various steps to boost economic expansion.

Government unveils mega bank mergers to revive growth from 5-year low

Finance minister Nirmala Sitharaman, who had last week announced tax sops and measures for sectors such as auto, announced four new set of mergers — Punjab National Bank, Oriental Bank of Commerce and United Bank of India will combine to form the nation’s second-largest lender; Canara Bank and Syndicate Bank will merge; Union Bank of India will amalgamate with Andhra Bank and Corporation Bank; and Indian Bank will merge with Allahabad Bank.

Arsenal drawn with Eintracht in Europa League, United head to Kazakhstan

Last season’s runners-up Arsenal were placed in the same section as Eintracht Frankfurt in the draw for the Europa League group stage in Monaco on Friday, while Manchester United face a long trip to Kazakhstan.

GDP growth falls to 5% in April-June quarter from 5.8% in January-March quarter

India’s Gross Domestic Product (GDP) growth for the April-June (Q1) quarter slowed to 5 per cent from 5.8 per cent in the previous quarter (January-March), data released by government on Friday showed. The slowdown can be largely attributed to weak consumer demand and private investment, at a time when global trade frictions have dampened business sentiment.

Would love to have dinner with Lionel Messi: Cristiano Ronaldo

Portuguese superstar Cristiano Ronaldo has expressed his desire to have dinner with arch-rival Lionel Messi, adding that they have dominated football for the past 15 years like no other player in the history of the sport.