A look at the headlines in this sector right now:
- President approves ordinance that gives RBI, public sector banks more power to tackle bad loans: The new law gives the central bank the freedom to relax some guidelines if required, so the money can be recovered faster.
- Uber is being investigated for allegedly using software to flout US government regulations: The Greyball tool was used to deny rides to officials who were trying to check if the company was breaking local laws.
- India launches its communications satellite for South Asia, which Pakistan had snubbed: Experts say this is the first time India has launched a satellite with a clear foreign policy agenda, as against a commercial, defence or scientific one.
- Sensex ends over 250 points down, Nifty slips below 9,300: The fall was attributed to weak Asian markets that were hit by a drop in oil prices.
- Pakistan International Airlines suspends weekly Mumbai-Karachi flight from May 11: An airline official said commercial factors, in addition to cross-border tension, could be the reason behind the sudden suspension.
- Facebook, Twitter and Google sued for ‘providing material support’ to IS in the Bernardino shooting case: The companies allowed the terror group to flourish on social media, said the families of three victims.
- Centre announces new ‘no-fly’ list rules for unruly passengers: Passengers will be allowed to appeal the decision to suspend them from flying.