Air India posts Rs 4,600 crores operating loss in 2018-19 its aim to operating profit fiscal:
Air India denotes an operating loss of around Rs 4600 crore within the last fiscal year due to higher oil costs and exchange losses however the debt-laden carrier expects to show the profit of Rs 700 to 800 crore in 2019-20.
Airlines net loss :
The airline`s net loss leads to Rs 8,400 crore whereas total loss revenues touched around Rs26,400 crore in 2018-19. Air India had a loss of Rs 430 crore within the four-month. after Pakistan’s Balakot airstrikes closed Air india tries to increase a ratio and yields improving to forty-one international and seventy-two domestic destinations. Air india is to begin flying to Toronto from Sep twenty-seven and to Nairobi in November. the airindia has a loan burden upto Rs 58,000 crore, at now it is a new challenge on major investment with Rs 4000 crore.
About Air india:
The Air india airline was supported by J. R. D. Tata it is started in 1932. The airline has its headquarters in New Delhi.it is owned by the government.it is the largest international carrier with sixty international destinations served by four continents. The airline became the twenty-seventh member of Star Alliance on eleven July 2014.
Mahindra and Mahindra constitute MBPL as wholly-owned subsidiary:
Home-grown auto major Mahindra and Mahindra incorporated Mahindra Bangladesh Private Limited (MBPL) as its wholly-owned subsidiary.
MBPL has been incorporated in Dhaka, Bangladesh under the laws of Bangladesh, The Companies Act (Act XVIII) of 1994, Mahindra and Mahindra said in a regulatory filing.
The objective of the move is to carry on the businesses of trading, distributing, supplying, storing, exporting, importing, servicing, manufacturing, developing, assembling, leasing, selling on hire-purchase or instalment systems, research and development, of all kinds of passenger, transportation and utility vehicles including but not limited to tankers, tractors, agricultural machinery, multi-utility vehicles, trailers, lorries, trucks, buses, motor cars, motorcycles, three-wheelers or other motor vehicles.
Mahindra and Mahindra
Parent organization: Mahindra Group
CEO: Anand Mahindra.
IMF cuts India’s GDP growth to 7% from 7.3% for FY20:
The International Monetary Fund(IMF) has reduced the Gross Domestic Product(GDP) growth rate of India to 7% from its previous estimate of 7.3% which is much weaker than expected by IMF. this rate cut is attributed to uncertainty in corporate and environmental regulatory in some Non-Banking Financial Companies (NBFC).IMF cuts India`s GDP growth to 7% from 7.3% for FY20
Key points:
This economic growth rate is expected to rise to 7.2 % FY21, which is also a downgraded projected growth rate of 7.5 in the earlier report.
About IMF:
Formed- 27 December 1945, after Brettonwood conference in 1994.
Headquarters- Washington, D.C. (United States(US))
Chief economist- Gita Gopinath.
Director- Christine Lagarde
Ola drivers to get healthcare benefits under Ayushman Bharat:
Ola and Ayushman Bharat - Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) announced a partnership to facilitate comprehensive health insurance for Ola’s 2 million driver-partners.
Vijay Ghadge, Vice President-Operations, Ola signed an MoU with Praveen Gedam, Deputy CEO of AB-PMJAY and National Health Authority to extend the benefits of the Centre-sponsored healthcare scheme to provide secondary and tertiary care to driver-partners and their families. A representative from Common Service Centres (CSC), Ministry of Electronics and Information Technology, Government of India signed the MoU in the capacity of a third-party administrator.
Bharat - Pradhan Mantri Jan Arogya Yojana (AB-PMJAY)
AB-PMJAY provides 10.74 crore economically backwards and vulnerable families in India with hospitalization benefits through a health cover of Rs. 5 lakh in government and empanelled private hospitals. As a part of the partnership, the two organizations will work in tandem to identify driver-partners eligible for the scheme and provide them with access to benefits under the PM-JAY scheme. Through this collaboration, hundreds of thousands of eligible driver-partners will be able to access in-patient care for serious illnesses at a country-wide network of 18,073 government and private hospitals empanelled under PM-JAY.
The driver-partners can get their AB-PMJAY e-cards issued at the nearest Ola office. The milestone development follows a series of benefits Ola has extended to its driver-partners towards their financial inclusion, including access to credit, tailored financial products and subsidized insurance and interest rates for their personal and professional needs.
Eligible driver-partners, as well as Ola employees across verticals, will be able to avail the benefits of the program and obtain an Ayushman Bharat card at Rs. 30. Officials from the National Health Authority will work closely with the concerned department at Ola to carry out efficient handling of the process from checking eligibility to handing out AB-PMJAY e-cards. They will also train Ola staff to execute the process independently.