Saffron activists attack minority youths for distributing sweets on I-Day 

New Delhi, Mar 4: The government on Wednesday permitted NRIs to own up to 100 per cent stake in disinvestment-bound Air India.

The decision comes at a time when the government is looking to sell 100 per cent stake sale in the national carrier.

Union minister Prakash Javadekar said the Cabinet has approved allowing Non-Residents Indians (NRIs) to hold up to 100 per cent stake in Air India.

Allowing 100 per cent investment by Non-Resident Indians (NRIs) in the carrier would also not be in violation of SOEC norms. NRI investments would be treated as domestic investments.

Under the Substantial Ownership and Effective Control (SOEC) framework, which is followed in the airline industry globally, a carrier that flies overseas from a particular country should be substantially owned by that country's government or its nationals.

Currently, NRIs can acquire only 49 per cent in Air India. Foreign Direct Investment (FDI) in the airline is also 49 per cent through the government approval route.

As per the existing norms, 100 per cent FDI is permitted in scheduled domestic carriers, subject to certain conditions, including that it would not be applicable for overseas airlines.

In the case of scheduled airlines, 49 per cent FDI is permitted through automatic approval route and any such investment beyond that level requires government nod.

On January 27, the government came out witha Preliminary Information Memorandum (PIM) for Air India disinvestment. It has proposed selling 100 per cent stake in Air India along with budget airline Air India Express and the national carrier's 50 per cent stake in AISATS, an equal joint venture with Singapore Airlines.

Under the latest disinvestment plan, the successful bidder would have to take over only debt worth Rs 23,286.5 crore while the liabilities would be decided depending on current assets at the time of closing of the transaction.

This is the second attempt by the government in as many years to divest Air India, which has been in the red for long.

Bengaluru, May 2: The Centre’s classification of districts created confusion in Karnataka as the state’s own categorisation deviates significantly from the health ministry’s list.

For instance, the Centre put the number of districts in the red zone in state at three, while the state Covid-19 war room puts it at 14. Bengaluru Urban and Mysuru figure in the red zone in both lists. While Bengaluru Rural with zero active cases on May 1makes it to the Centre’s red-zone list, it is in the orange zone according to the state.

In addition to these two, the state classifies Belagavi, Kalaburagi, Vijayapura, Bagalkot, Mandya, Bidar, Dakshina Kannada, Chikkaballapura, Dharwad, Gadag, Tumakuru and Davanagere as red-zone districts.

State Covid war-room authorities said they would take a look at the Centre’s criteria for classification and take a call. Besides, incharge Munish Mudgil pointed out that states are allowed to make additions to the red and orange zones. According to the Centre’s list, Karnataka has 13 districts in the orange zone and 14 in the green zone.

Sudan said, “the districts were earlier designated as hotspots or red zones, orange zones and green zones primarily based on the cumulative cases reported and the doubling rate. Since recovery rates have gone up, the districts are now being designated across various zones duly broad-basing the criteria.

This classification takes into consideration incidence of cases, doubling rate, extent of testing and surveillance feedback. A district will be considered under the green zone if there are no confirmed cases so far or if there is no reported case in the past 21 days.”

Bengaluru, Jul 5: In the midst of the Covid-19 pandemic and the fear of layoffs lurking everywhere, the state government is holding a first-of-its-kind virtual job fair on July 10, to help people find jobs commensurate with their skill sets.

Co-ordinated by the Karnataka Skill Development Corporation (KSDC), the job fair will see participation of more than 40 companies for about 6,000 job openings.

The government will connect companies with job seekers who have registered on the recently-launched Skill Connect portal or on the Kaushalya Karnataka’s portal for migrant workers from the state who have returned home.

A candidate can either directly apply to a company, or await the portal to match their skills with available jobs. There is also a self-evaluation section on the website which will suggest whether a candidate needs to further skill oneself or whether they are eligible for jobs with their current set of skills. 

Firms such as Life Insurance Corporation, Barbeque Nation and Arvind Mills are among the participants.