DGCA launches probe into helicopter mishap in Ranchi

All aspects of the accident, including the reported technical snag, would be investigated by the DGCA probe panel, official sources said, adding the chopper turned turtle after hitting the ground

New Delhi: Aviation regulator Director General of Civil Aviation (DGCA) on Wednesday launched a probe into the helicopter accident in East Indian city of Ranchi in which Jharkhand Chief Minister Arjun Munda suffered injuries.

"We have appointed Assistant Director (Air Safety) Sanit Kumar as the Investigating Officer," Director General of Civil Aviation EK Bharat Bhushan told PTI. The chief minister was admitted to a hospital.

The twin-engined helicopter, Agusta AW 109, crash-landed at the Birsa Munda Airport at 12:30 pm while trying to make an emergency landing following a technical problem.

All aspects of the accident, including the reported technical snag, would be investigated by the DGCA probe panel, official sources said, adding the chopper turned turtle after hitting the ground.

Ranchi Superintendent of Police Ranjit Kumar said the Chief Minister was admitted to a hospital.

The helicopter was returning to Birsa Munda Airport around noon after it could not land at Kuchai in Sareikela-Kharsawan district, about 100 kms from here.

"The helicopter fell from a height apparently due to a technical problem while landing," a close aide of the Chief Minister said.

The chopper suffered damage in the mishap, he said.

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ICICI Bank ups foreign currency deposit rates by up to 175 bps

ICICI Bank said in the under three years maturity, it has hiked rates by 0.75% while for the three-five years category, the hike is 1.75%

Mumbai: The country's largest private sector bank, ICICI Bank on Wednesday hiked interest rates on foreign currency deposits by non residents by up to 1.75%.

The hike in the Foreign Currency Non Resident (FCNR) Deposits, applicable from 8th May is across currencies in different maturities ranging from one to five years, the lender said in a statement.

The move comes within a week of Reserve Bank of India (RBI) hiking interest rate caps on foreign currency deposits by the diaspora in its quest to arrest slide in the rupee.

Under the revised rules, the country's banks can offer interest rates, which would be 3% above the international benchmark for deposits in the three to five year maturities from the earlier 1.25%.

The cap has been kept at 2% above international benchmark for deposits of less than three years.

ICICI Bank said in the under three years maturity, it has hiked rates by 0.75% while for the three-five years category, the hike is 1.75%.

Under its newly-announced rates, a five year US dollar deposit will earn a non resident an interest of 4.11%, while the same for over one year but under two years is 3.05%.

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Controversial plot in Pune to be put to suitable alternative use: Army

Maj Gen Yadav said a decision on the use of the building would be taken by the Ministry of Defence, which had sanctioned about Rs5 crore for the project

Pune: The building under construction on the defence land at Khadki, which originally was meant to be the post-retirement residence of President Pratibha Patil, before being surrounded by a controversy, would be put to "suitable alternative use" of the army, said a defence official, reports PTI.

"It is not a disputed land. It is Army land. We are working on a suitable alternative use of the building whose construction will continue," Southern Command administration officer Maj Gen SK Yadav said in an interaction with reporters last night.

The sprawling plot of land and the building under construction was caught in a controversy after an organisation of ex-servicemen objected to it saying that the allotment was in violation of the norms of entitlement to a former President.

The land can also be utilised to offer housing to the deprived widows of servicemen, it was argued. Ms Patil subsequently announced her decision to forgo the proposed bungalow, changing her plan to settle down in the city.

Maj Gen Yadav said a decision on the use of the building would be taken by the Ministry of Defence (MOD), which had sanctioned about Rs5 crore for the project.

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