US Aviation Agency Downgrades Indian Safety Rating

February 1, 2014

US_Aviation_AgencyNew Delhi, Feb 1: The U.S. Federal Aviation Administration has downgraded India's air safety rating over concerns about pilot training and other issues, the agency said Friday.

The downgrade to the lower of two safety categories means Indian airlines cannot increase the number of flights they operate to the United States or enter into any new code-sharing arrangements with American carriers, said Uday Moray, India's Civil Aviation Ministry spokesman. He said the move will not affect current flights.

India has started training programs to address the problems and should be in line with the FAA's category 1 standards by March, Moray said.

Moray said the FAA raised 33 issues, including beefing up safety training programs, offering better safety documentation and hiring full-time flight operations inspectors.

The FAA said in a statement Friday that the downgrade "signifies that India's civil aviation safety oversight regime does not currently comply with the international safety standards set by the International Civil Aviation Organization," a U.N. agency.

The U.S. will work with Indian aviation authorities "to identify remaining steps necessary to regain category 1 status," the FAA said.

India had had a category 1 status since August 1997, the agency said.

A category 2 rating means a country either lacks laws or regulations necessary to oversee air carriers in accordance with minimum international standards, or that its civil aviation authority is deficient in one or more areas, such as technical expertise, trained personnel, record-keeping or inspection procedures.

Jitender Bhargava, a civil aviation expert, said the FAA's decision is embarrassing for India but does not mean it's unsafe to fly on Indian carriers.

He said the move will hurt Indian airlines Air India and Jet Airways at a time when foreign carriers are expanding flights to India.

The move will "hit the market share of Indian carriers in our home market," he said.

ICAO conducted an audit in December 2012 that identified safety oversight deficiencies by India's Directorate General of Civil Aviation. Afterward, FAA began a "reassessment" of India's compliance with international standards, including visits by U.S. inspectors to India in September and early December and meetings this week in Delhi, the FAA statement said.

The Indian government has made "significant progress" toward addressing issues raised by FAA inspectors, the agency said. That progress includes recent government approval for hiring of 75 additional full-time aviation inspectors, FAA noted.

India is one of the fastest growing aviation markets in the world, averaging about 11 percent growth a year, according to the U.S. Trade and Development Agency.

The FAA's decision to downgrade India was made at the same time the U.S. government is making a strong push to encourage the Indian government and aviation industry to buy planes and technology from U.S. companies. The U.S. Trade and Development Agency sponsored a two-day "U.S.-India Aviation Summit" in Washington last October at which government officials, including FAA Administrator Michael Huerta and Transportation Secretary Anthony Foxx, touted U.S. technology to several dozen Indian officials.

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Agencies
June 16,2020

Mumbai, Jun 16: Saudi Arabia’s sovereign wealth fund, PIF, is all set to pick up a stake in Jio Platforms, which would complete 25% of Jio’s equity dilution to the investors, said a report by the Gulf News.

Jio Platforms is part of the Reliance Industries empire owned by Mukesh Ambani. The Public Investment Fund (PIF) will acquire 2.33% for an estimated $1.5 billion, the report said.

So far, Jio Platforms has raised investment from 10 different global investors in seven weeks, the latest being TPG Capital buying 0.93% equity for Rs 4,547 crore and private equity firm L Catterton picking up a 0.39% stake for Rs 1894.50 crore.

Jio Platforms has raised a total of Rs 1.04 lakh crore so far from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG and L Catterton since April 22.

With PIF coming on board, Jio Platforms would have diluted 25% of its equity. That's the maximum they intend to dilute to financial investors, which includes Mark Zukerberg's Facebook.

Any new investors coming on board in future will have to be "strategic investors, a tech giant, for instance," said a source who was part of the deal-making process, the report said.

In recent days, Jio Platforms, which will merge telecom, content streaming, gaming and ecommerce features into its app, has seen Abu Dhabi's Mubadala and ADIA pick up significant stakes amounting to $1.2 billion and $750 million, respectively.

Reliance Industries' owner, Ambani, Asia's richest man, has been on an investor acquisition spree, with the likes of Facebook and private equity majors such as KKR and Silver Lake Capital investing in Jio Platforms.

The contours of the deal with Saudi Arabia's PIF was finalised during Ramadan. "It was always Mukesh Ambani's wish to have a special relationship with Saudi Arabia and the UAE," said Anshuman Mishra, a London-based confidante and family friend of the Ambani family of longstanding, Gulf News quoted as saying.

He has also worked extensively with Gulf sovereign wealth funds over the years.

"Saudi Arabia's coming in to close the financial investor round in Jio is indicative of the special nature of the relationship. This is also indicative of the multi-billion-dollar partnership announced last year with Saudi Aramco.

"This is a major success for the present Indian government's foreign policy initiative in the gulf and symbolic of India's significance in the GCC," it said.

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Agencies
June 14,2020

Kashmir, Jun 14: An Army personnel was killed and two others were injured as Pakistani troops opened fire and shelled areas along the Line of Control in Poonch district of Jammu and Kashmir, officials said on Sunday.

This is the third fatality in the Pakistani firing and shelling on forward posts and villages in the twin districts of Poonch and Rajouri this month.

The officials said the latest firing and shelling from across the border took place in Shahpur-Kerni sector on Saturday night, drawing strong retaliation by the Indian Army.

Three Indian Army personnel were injured in the Pakistani firing and were immediately evacuated to hospital, where one of them succumbed to injuries, the officials said.

They said the casualties suffered by the Pakistani Army in the retaliatory action were not known immediately.

On June 4, havaldar P Mathiazhagan fell to Pakistani firing in Sunderbani sector of Rajouri district, while on June 10, Naik Gurcharan Singh lost his life in a similar incident in Rajouri sector.

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Agencies
January 21,2020

Pune, Jan 21: The Pune session court on Tuesday rejected the bail application of accused Vikram Bhave in the Dabholkar murder case.
Last year, Pune Sessions Court had granted an extension of 90 days to the Central Bureau of Investigation (CBI) to file a charge-sheet against Bhave.

On August 17, 2019, the court had rejected Bhave's bail plea.

During the course of hearing, Special Public Prosecutor (SPP) Prakash Suryavanshi, appearing for the CBI, had in June last year contended that Bhave helped the assailants to escape.

The CBI had arrested Bhave and another accused Sanjeev Punalekar from Mumbai on May 25, 2019 in connection with the matter.

Founder of the Maharashtra Andhashraddha Nirmoolan Samiti (MANS), Dabholkar was shot dead by bike-borne assailants while returning home from a morning walk on August 20, 2013. 

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