KOLKATA: Nearly five lakh retired employees of Coal India Limited (CIL) got a rude shock at the beginning of this month when they found that their pensions had not been remitted to their accounts, owing to what turned out to be a temporary shortage of funds.

“I have not received my pension for May till today,” NC Jha, former chairman of CIL and president of the state-run monopoly producer’s retired executives’ welfare association told ET on Wednesday.

KOLKATA: The cumulative sales of eight of cigarette-to-soap maker giant ITC’s FMCG brands crossed the $2-billion (Rs 13,000 crore) milestone in the fiscal ending March 2018, with three packaged food brands Sunfeast biscuits, Bingo chips and snacks and Aashirvaad atta driving the surge. This propelled the annual consumer spend on ITC’s FMCG brands to more than Rs 16,000 crore in FY18 compared to Rs 14,000 crore the year before, an investor presentation from the company showed.

State-run Air India on Wednesday said it has revised the excess baggage charges by Rs 100 per kg to Rs 500 for domestic travels from June 11.

As of now, the airline charges Rs 400 per kg for excess baggage.

The referee makes the sign of a screen with his fingers and goes to consult a screen on the edge of the pitch — the controversial VAR, video assistant refereeing system, will make its debut in FIFA World Cup 2018 at Russia.

After experiments in different FIFA tournaments, Serie A in Italy and the German Bundesliga this season, the principle is now well known in most countries.

Siemens on Wednesday said it has commissioned the world’s-largest power grid stabilisation technology solution for State-run utility Power Grid Corporation of India at Rourkela in Odisha.

“Siemens has commissioned 400 kV Synchronous Compensator (STATCOM) solutions at Power Grid Corporation’s substation in Rourkela, Odisha.

BENGALURU: A casual act of letting your spouse or a close relative/friend withdraw money from an ATM using your debit card could prove costly. This is what a Benglauru woman on maternity leave recently learnt, albeit the hard way.

Banking rules categorically state that an ATM card is non-transferable and no other person apart from the account holder should use it.

GMR Infrastructure Ltd’s two main businesses of energy and airports are still not out of the woods. The company’s shares have fallen by 13% since its March quarter results were declared five days ago.

Investors were unimpressed by the auditor’s qualification of a 2,255 crore impairment loss on a stranded power project. Even GMR Infra’s defence that the project has been referred for Special Debt Restructuring, and the onus is now on the bankers, did not help.

Extending its post-RBI policy rally, the BSE Sensex spurted 208 points in opening trade on widespread buying, with banking, metal and realty sectors leading the gains.

The benchmark had rallied 276 points on Wednesday after the RBI hiked the policy rate after a four-year pause on inflation concerns but maintained its neutral stance.

It was a typical day to mark the release of a Rajinikanth film. Rajinikanth fans across the country thronged to theatres that were playing his latest blockbuster Kaala. Barring Karnataka where the movie has not been released due to the Cauvery issue and the actor's statements, other places witnessed what many call organised mayhem.

Tata Consultancy Services (TCS) has given 20,000 job offers to fresh graduates and another 4,000 to non-freshers this year, a top executive said on Wednesday, even as hiring of engineers by the information technology (IT) industry is expected to decline in the coming years. Around 70 per cent of those offered jobs are expected to join the company — a trend seen in the previous years too.

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