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INDIAN (B)

INDIAN (B)

Govt to check Gangwal, Bhatia shareholder pact

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The government will examine the shareholder’s agreement (SHA) between IndiGo’s bitterly feuding promoters Rahul Bhatia and Rakesh Gangwal to see if the same is in accordance with provisions of the Companies Act. Over the last few days, Gangwal has flagged the issue with the government and alleged serious corporate mis-governance in the airline.



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INDIAN (B)

Housing becomes less affordable, reveals RBI study

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​​The study measures affordability by comparing the price to monthly income of average home loan borrowers. According to the report, the house price to income ratio increased from 56.1 in March 2015 to 61.5 in March 2019 for all cities. Another measure used is the loan to income ratio, which has increased from 3 in March 2015 to 3.4 in March 2019.



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INDIAN (B)

SBI waives charges for online fund transfers

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In order to provide an impetus to digital funds movement, country’s largest bank, State Bank of India, has waived charges on national electronic funds transfer (NEFT) and real-time gross settlement (RTGS) transactions through internet and mobile banking from July 1. Charges on fund transfer through mobile phones using the IMPS (immediate payment service) from August 1.



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INDIAN (B)

Infosys to hire 18,000 people from campuses in FY20

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“Overall for this quarter, we have recruited close to 8,000 people, of which freshers are about 2,500. .. For the year, we are looking at about 18,000 people or so from universities,” said Infosys CEO UB Pravin Rao. Infosys added 906 people (net) during the June 2019 quarter. The attrition was at 23.4% up, compared to 20.4% for the quarter ended March 2019.



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INDIAN (B)

Anshula Kant appointed MD of World Bank

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Anshula Kant, managing director of the State Bank Of India, has been appointed as managing director and chief financial officer of the World Bank. As CFO of the SBI, Kant managed $38 billion of revenues and total assets of $500 billion. Stewarding the organization, she greatly improved the capital base and focused on the long-term sustainability of SBI within her mandate.



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