In a major setback to the New Delhi Municipal Council’s (NDMC) ambitious free Wi-Fi project, the Delhi High Court on Wednesday restrained the civic body and Indus Towers from entering into an agreement to provide free Wi-Fi and setting up of CCTVs on 18,500 street poles in areas under the civic body’s jurisdiction till final disposal of the case.

A bench of justices Badar Durrez Ahmed and Sanjeev Sachdeva said: “Till we hear the matter finally, further action pursuant to notice inviting tender shall not take place. Respondent 1 (NDMC) and 2 (Indus) not to enter into contract till next date of hearing.” It said that since there were no specifications, there was no standard methodology for comparing the bids of Indus and Reliance Jio Infocomm.

Indian Railways has suffered losses of about Rs 100 crore due to the ongoing Gujjar agitation which has forced cancellation and diversion of as many as 326 Mail and Express trains on Kota-Mathura route so far.

Besides, there have been cancellations of about 1.9 lakh tickets since May 21 on IRCTC website, causing a huge logjam for customers to access the site.

With the lowest deposit growth in half a century as a backdrop, banks want to avoid cutting deposit rates any further and risk losing incremental flows to government-sponsored schemes.

Deposits of the banking system grew 11.42% in 2014-15 to an outstanding R85.86 lakh crore, the lowest growth since 1961. The fact that credit growth was far lower at 8.6% prevented banks from facing liquidity crunch. Bankers said that, going forward, deposit growth will have to pick up once demand for credit starts increasing. In 2014-15, most public sector banks saw their deposits grow around 14% while private banks deposit growth was in the 8-22% band.

NEW DELHI: Cracking the whip on errant employees to improve on time performance (OTP), Air India (AI) has suspended 17 air hostesses for allegedly delaying flights.

The airline has started monitoring when each of its crew reports to airports to operate flights. "These 17 cabin crew members were found to have delayed flights more than three times and they have been suspended," said an AI official.

Ecommerce companies like Snapdeal, Flipkart and Zomato have recently hired senior-level talent from varied sectors ranging from FMCG to media for different managerial positions and the trend is growing.

Even executives from large multinationals like Google, Unilever and GSK are making a beeline for the new sunrise sector in the country – Indian e-commerce industry is a Rs 80,000-crore-plus behemoth.

Reliance Infrastructure, the infra arm of the Reliance Group, has posted a 26% year-on-year decline in consolidated net profit for the quarter ended March 31, 2015 at Rs 459 crore on account of flat operating income and higher finance costs.

The company’s consolidated total operating income decreased nearly 2% year-on-year to Rs 4,618 crore as the income from power business declined 13.5%, while income from EPC and contract business fell by 5% during the quarter.

In a volatile market, the benchmark BSE Sensex washed out initial gains and was quoted lower by 27 points at 27,537.61 in the late morning session due to fresh selling pressure, mainly in healthcare and metal, on the back of fresh foreign capital outflows. Stocks may remain volatile today in view of expiry of May contracts in the futures and options (F&O) segment today.

Ashok Leyland's UK arm Optare has stregthened its leadership team by roping in former Volvo senior executive Alastair Munro.

Munro joins Optare as director, engineering. He has over 30 years experience in engineering design and product development in the bus, coach and commercial vehicle industry.

A district court in the US has rejected a plea by Infosys, India's second-largest information technology (IT) services company, to dismiss a discrimination lawsuit filed by a few IT workers there.

In their lawsuit filed in 2013, four IT workers, who claimed themselves as 'Caucasians of American national origin', had alleged they were discriminated against because they were not South Asian, Indian, Bangladeshi or Nepalese.

Tata Motors has closed the revenue gap with Reliance Industries Ltd (RIL). While RIL remains the country’s largest private sector company by revenue (including other income), Tata Motors topped the chart by core revenue (net sales) in the fourth quarter ended March. The country’s top automobile maker reported net sales of Rs 67,576 crore in the quarter, against RIL’s consolidated net sales of Rs 67,470 crore.

With total revenue of Rs 69,642 crore, however, RIL remains ahead of the auto maker. In the quarter, RIL reported other income of Rs 2,172 crore, far higher than Tata Motors' other income of Rs 245 crore. RIL is also more profitable than Tata Motors.

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