#MeToo | Vikas Bahl would hold me tight, smell my hair says Kangana

Mumbai, May 22: The Reserve Bank of India (RBI) on Friday reduced repo rate by 40 basis points to 4 per cent in an effort to further boost liquidity in the economy which has been reeling under the impact of COVID-19 induced countrywide lockdown.

As a result, the reverse repo rate stands at 3.35 per cent, said RBI Governor Shaktikanta Das. The six-member monetary policy committee (MPC) voted 5:1 in favour of the decision.

Repo rate is the rate at which a country's central bank lends money to commercial banks, and the reverse repo rate is the rate at which it borrows from them. 

Washington, Jun 11: Music maestro AR Rahman has joined the international film 'No Land's Man' as co-producer and composer.

Helmed by renowned Bangladeshi filmmaker Mostofa Sarwar Farooki, the upcoming movie has Indian thespian Nawazuddin Siddiqui, Australian theatre actor Megan Mitchell, and Bangladeshi musician and actor Tahsan Rahman Khan in pivotal roles.

"Time always gives birth to new worlds, new ideals. The newborn world has new challenges and new stories to tell. This is one such story," Variety quoted Rahman as saying.

The movie chronicles the life of a South Asian, whose journey gets complicated when he meets an Australian woman in the U.S.

The film, shot in the U.S., Australia and India, is predominantly in English with some dialogue in Hindi and Urdu.

'Sacred Games' actor, Siddique said: "The filming experience for this project was challenging but a fulfilling one. AR Rahman's brilliance will definitely make the film richer."

"Farooki and I first spoke about 'No Land's Man' at Film Bazaar in 2014. Between then and now, the film has become even more relevant as it looks at what it means to be a vulnerable person in a racially-divided world," producer Srihari Sathe said.

'No Land's Man' won the MPAA (Motion Picture Association of America) and Asia Pacific Screen Awards' Script Development fund in 2014. It was part of the Asian Project Market at Busan and was chosen as the best project at India's Film Bazaar the same year.

Earlier in January, Siddiqui posted multiple pictures on Instagram with the team of the flick, marking the schedule wrap in New York and Sydney for 'No Land's Man.'

He also captioned the post as: "Wonderful experience with the most energetic team."

New Delhi, Mar 19: Hit hard by coronavirus, budget carrier IndiGo today announced that it will cut salaries of senior employees. IndiGo CEO Ronojoy Dutta, who will himself take a 25% cut in salary, said senior vice presidents and above are taking a 20% pay cut while vice presidents and cockpit crew are taking a 15% pay cut.

With precipitous drop in revenues, the very survival of airline industry is now at stake, Dutta said while announcing the pay cut. "We have to pay careful attention to our cash flow so that we do not run out of cash," Dutta said adding that he knew how hard it was for families to take a cut in "take-home pay".

"With a great deal of reluctance and a deep sense of regret, we are therefore instituting pay cuts for all employees, excluding Bands A and B, starting April 1, 2020," the chief executive officer said. Band A and B are the lowest brackets in salary class, where most of the employees are.

IndiGo's flight operations chief Ashim Mitra had written an email to pilots this morning saying that the economic environment has deteriorated significantly and no airline is insulated from this severe downturn.

"It has become a necessity to initiate some tough calls and we are working on a string of measures that will be shared and implemented over the next few days and weeks," Mitra said.

With countries sealing their borders partially or fully across the world due to the novel coronavirus pandemic, aviation sector has been hit extremely hard as most airlines globally have drastically curtailed their flight operations.

Another budget airline GoAir has already terminated contracts of expat pilots amid curtailed operations due to the coronavirus pandemic.

Citing "unprecedented" decline in air travel, the budget carrier announced it was suspending international operations and offering leave without pay programme to its staff on a rotational basis.

Government-owned Air India may also cut salary of employees by 5% amid its growing financial woes particularly in the wake of the coronavirus pandemic, which has nearly grounded its entire international operations. The reduction will be across the board, according to a PTI report.

The loss-making airline, which is in the process of a second attempt of privatization after failing to get a single buyer nearly two years ago, has already taken some steps such as reduced flying allowances to cabin crew besides withdrawing entertainment allowance to executive pilots, among others.

“Air India is considering a 5 per cent pay cut to its employees as it faces huge financial crisis due to the ongoing coronavirus outbreak, which has brought almost its entire international operations save the US, Canada and a few other markets, to the ground," a source told news agency.