Companies & Sectors
Japan's Softbank, Bharti JV for $20bn Indian solar project
Japan's SoftBank Corp on Monday announced a joint venture with Bharti Enterprises and Foxconn Technology Group to set up a $20 billion solar power project in India designed to add 20 gigawatts of generation capacity.
 
"The total project cost is $20 billion and designed to further Prime Minister Narendra Modi's vision of achieving 100 GW solar power, which he told me about in Tokyo," SoftBank chairman Masayoshi Son told reporters here.
 
"Softbank will be the project leader with majority stake, while Bharti will be a strategic minority shareholder. Foxconn Technology will have a smaller minority stake," said Bharti Enterprises chairman Sunil Bharti Mittal.

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Bank employees' June 24 strike postponed
A strike called by All India Bank Employees Association (AIEBA) on June 24 to press for the demands of employees of associate banks of State Bank of India (SBI) has been postponed, said a top union leader.
 
"The June 24 strike has been postponed. We will meet union ministers for finance and labour and complain about the anti-employee stand of SBI. The bank management is not implementing the government directions," C.H. Venkatachalam, AIEBA general secretary, told IANS.
 
He said the SBI management was not implementing the guidelines of the government regarding the appointment on compassionate grounds nor hike the housing loan amount for the employees.
 
"Despite all efforts by AIBEA and SSBEA (State Sector Bank Employees Association) to work out amicable solution during conciliation and bilateral talks, SBI management maintains their illegal, unfair and anti-associate banks attitude. AIBEA has decided to take up the issue at higher level in government. In view of this, it is decided to postpone the strike of June 24," he said.

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Mumbai hooch tragedy toll mounts to 100
The death toll in the Mumbai hooch tragedy - the worst in 11 years in Maharashtra - shot up to 100 on Monday, police said.
 
"The toll has reached 100 and another 48 people are under treatment in various hospitals," Deputy Commissioner of Police Dhananjay Kulkarni, who is also Mumbai Police spokesperson, told IANS.
 
The victims had consumed liquor at a country liquor bar in Malwani area on June 17 night.
 
The Crime Branch has launched a manhunt across Mumbai and its surroundings for at least four bootleggers who are said to be the kingpins of the illicit liquor trade.
 
Police have nabbed around 20 people following the tragedy.
 
Alarmed by the steadily rising death figures, the Maharashtra government cracked down by suspending four excise department officials on Saturday and eight police personnel on Friday.
 
The government is also planning to amend laws pertaining to the sale, storage and transportation of country liquor to avoid similar tragedies in future, officials said.
 
The victims were mostly residents of Laxmi Nagar slums and had consumed the cheap liquor in Rathodi village nearby.
 
In December 2004, 87 people died in two separate incidents in Mumbai.

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