Sebi board to tighten rules on share pledging

• The idea is to cover all innovative structures and methods used by promoters, says a source
• As of today 38,531 million shares are pledged across 790 listed firms and about 46.03% of these are promoter pledges

Jet Airways creditors asked to submit claims by 4 July

• The airline owes over ₹8,500 crore to a consortium of 26 banks led by State Bank
• The resolution professional for Jet Airways has invited claims from all creditors to the grounded airline

L&T moves closer to Mindtree takeover after Nalanda Capital stake buy

• Larsen and Toubro's stake rises to 46%
• Nalanda’s stake purchase takes L&T closer to its target

RBI plans for transferring excess reserves opposed and delayed

• Sources say Finance Secretary Subhash Chandra Garg is in favour of higher transfer
• Deputy Governor Viral Acharya, whose resignation was only disclosed on Monday, had also defended the RBI's excess reserves

Huawei says ready to sign ‘no back door’ pact with India

• Huawei India CEO Jay Chen says it also encourages other original equipment manufacturers to sign this kind of pact with the govt and telecom operators
• Chen says Huawei wants a level playing field in India

RBI Deputy Governor Viral Acharya resigns

• RBI Deputy Governor Viral Acharya resigns six months before his term ends, according to a report
• Viral Acharya is returning to the New York University Stern School of Business in August, says the report

At 8 mn, Jio adds the most subscribers in April; Airtel loses the most at 3.3 mn

• Mobile phone customer base grew by 490,000 subscribers to 1.16 billion in April, says a TRAI report
• State-run BSNL was the only other gainer with over 0.2 million new subscribers taking its total tally to around 115.9 million

Number of wilful defaulters in nationalised banks up 60% to 8,582 in 5 years

• Recovery of ₹7,654 crore has been done from wilful defaulters' accounts during the last five financial years, the FM said
• The minister was replying to a question whether the cases of wilful defaulters of banks have increased during the last five years

8 Maruti Suzuki models among top 10 best selling cars in India

• Maruti Swift was the best-selling model last month clocking 17,039 units
• Maruti Dzire sold 16,196 units last month, occupying the third position

IndiaMart IPO off to strong start: Key things to know before you invest

• IndiaMart is the first company to test IPO market under Modi 2.0
• At the upper end of the price band, IndiaMart offer is expected to raise about ₹475 crore

Rupee closes near two-week high

• So far this year, the rupee has fallen 0.2% against the US greenback
• The 10-year bond yield was at 6.846%, compared with Friday's close of 6.856%

Filling Iran oil gap in India: US supplies outshine Middle East crude

• India bought about 184,000 barrels per day oil from US over Nov 2018 to May 2019, compared with about 40,000 bpd in the year-ago period
• Donald Trump's administration renewed sanctions against Iran last year over its nuclear programme

Changing to batteries will not reduce one iota of pollution: Venu Srinivasan

• This is not like Aadhaar, not a software and print cards, TVS Motor Co Chairman & Managing Director Venu Srinivasan said
• Bajaj Auto Managing Director Rajiv Bajaj added that 100% transition is completely uncalled for

IPO long-term strategy, currently focused on driving e-commerce growth: Flipkart

• The statement comes amid reports that Flipkart is looking at tapping into the US equity market by 2022
• An IPO has always been part of Flipkart's ambitions and long-term strategy but right now, we don't have a time frame on that, a Flipkart spokesperson said

Bitcoin prices cross $11,000 with another big surge

• The largest cryptocurrency had a furious run higher in late 2017
• Bitcoin surged 13% gain from late Friday that put it at the highest levels since March 2018

Evaluating selling entire 20% stake in Shriram Capital: Piramal Enterprises

• The company had earlier this month sold its entire holding of 10% holding in Shriram Transport Finance Co Ltd for ₹2,300 crore
• In April this year, Piramal Enterprises had announced its intention to exit from investments in Shriram and optimally redeploy capital for strategic growth in its own financial services business

Laser-guided bomb system for Mirage-2000 was done for Kargil War: IAF Chief

• To accelerate the modification of the aircraft, its integration with targeting pods and 1000-pound laser guided bombs were done in a record time
• Dhanoa asserted said deploying Mirage-2000 jets and air support to ground forces turned the tide of the 1999 war in favour of India

I-T Dept issues notices in 380 cases of undisclosed foreign assets of ₹12k cr

• In a written reply to a question in the Lok Sabha, FM Nirmala Sitharaman said prosecution has been launched in 68 cases
• As per data, the Department has conducted searches on 983 groups and seized ₹1,584 crore in 2018-19, up from 582 cases involving seizure amount of ₹993 crore in 2017-18 fiscal

Gupta weddings over, Auli stares at quintals of waste

• Over 220 quintal waste had been collected from the wedding site between Sunday and Monday noon
• The Municipality officials said they would be able to completely clean the site only by 30 June

Dormant PF account will earn interest till the holder attains retirement age

After 36 months have passed since the last active contribution in a PF account, it gets categorised as dormant account

Binny Bansal sells ₹531 crore Flipkart shares to Walmart

• Binny Bansal's equity shares sold $76 million worth of his shares in Flipkart to Walmart's Luxembourg entity FIT Holdings SARL
• Walmart increased its equity holding in Flipkart by buying 5,39,912 shares

Shahid Kapoor’s ‘Kabir Singh’ to clock ₹68 crore on opening weekend

• Kabir Singh became the third highest opening day earner of the year
• The other big winner this weekend is Punjabi film Shadaa

TCS hikes stake to 66% in Japanese JV with $32.6 million investment

• The current governance of operations and management will remain unchanged by the share acquisition
• The joint venture was established in July 2014

After Dubai, UrbanClap arrives in Abu Dhabi

• With the launch in Abu Dhabi, UrbanClap now provides its services across 10 cities in India and 2 cities in the UAE
• UrbanClap aims to grow its UAE business two times (month-on-month)

Logistics sector to add 149,000 new jobs in April-September: Report

• Finding was part of the TeamLease Services' biannual 'Employment Outlook' report
• The sector is forecast to witness 14.19% job growth with railways, waterways, air freight and warehousing recruiting the most

From Yagna to drywashing cars, how Chennai is battling water crisis

• Hyundai Motor has asked its customers to 'dry wash' cars
• Cognizant has installed special nozzles in washbasin taps that lowers water consumption by 80%

Yes Bank co-founder Rana Kapoor's family plans mortgage unit sale

• Rana Kapoor's family could consider selling a majority stake in the mortgage finance unit
• It has reached out to several private equity firms to gauge their interest

CCD founder hits pause on sale of real estate venture

• Siddhartha defers plans to sell Tanglin Developments to Blackstone for ₹2,700-2,800 crore
• Global Village has among its tenants firms such as Accenture and Mphasis. It is also the headquarters of Mindtree

iPhone vs Android: The ministers' choice

• Several key ministers are quite tech-savvy and use best-in-class Apple and Android-based smartphones
• Admitting his fondness for gadgets, the Prime Minister only uses top-end Apple devices

Zara's Indian partner is building its own cheaper fashion chain

• While India’s fashion consciousness has surged, its purchasing power hasn’t kept pace
• All 11 analysts who track Trent’s stock recommend buying it

Who took my money: The builder or wealth adviser?

• The Karvy incident highlights why you should be wary of privately-placed products
• Investors should read the documents, fine print of financial products carefully, especially in privately-placed products where regulatory control is lower

Strategize your FD investments as rates drop

• FD interest rates may drop further eventually, so it may make sense to lock in now, but make sure your investments are in sync with your money goals
• If your investment horizon is medium to long term, it makes sense to lock into a long-term FD now

Water shortage could cut food exports, warns Jal Shakti minister

• Government research bodies and experts say Indian farmers need 4,500 to 5,000 litres of water to grow one kg of rice
• From being a food-deficit country, India has achieved the distinction of being a top exporter of food

US-China trade teams hold talks ahead of G-20

• Both the sides were seeking to ‘consolidate the important consensus reached between Trump and Xi in a telephone call last week
• The G-20 meeting is the first opportunity Trump and Xi have had to thrash out the trade dispute face-to-face since Trump said he was preparing to target the $300 billion in Chinese imports that he hasn't already hit with tariffs

50 years later, the moon is still great for business

• Hundreds of millions of people were riveted when Apollo 11 landed on the moon on July 20, 1969
• Naturally, marketers jumped at the chance to sell products from cars and televisions, to cereal and a once-obscure powdered drink called Tang

Tech Mahindra introduces AI-based Humanoid in Noida

• K2 leverages state-of-the-art Artificial Intelligence (AI) technology and initiates conversation without any need for wake-up commands
• The company plans to deploy the next Humanoid in its Pune campus and will further enable K2 software to carry out empathetic conversations from associate's wellness perspective

SP, BSP no longer in alliance, says BSP chief Mayawati

• Mayawati was upset that Akhilesh Yadav had not spoken to her after the debacle in the Lok Sabha elections
• Decision was taken on Monday after a meeting of national and state level committees

The Finance Minister gets ready for 5 July

It will be interesting to see what sort of balancing act Nirmala Sitharaman is able to carry out in the budget

Infosys announces strategic partnership with Toyota Material Handling Europe

• As an IT services partner, Infosys will help TMHE in its digital transformation journey
• Infosys will help drive innovation and optimization agenda backed by Next Generation AI and automation solutions for TMHE

Congress-BJP spar in Lok Sabha over motion of thanks on President’s address

• Earlier lot of people spoke about Mahagatbandhan. This is neither maha (big) nor gatbandhan (alliance), says BJP’s Pratap Sarangi
• Congress’ Adhir Ranjan Choudhary took on the BJP government on issues of economy, unemployment among others.

Global income is taxable in India if you qualify as a resident of the country

• NRIs are not eligible to open a PPF account in the country. However, they are allowed to contribute towards it
• If an individual qualifies as 'resident and ordinarily resident' in India, their global income would be taxable in India

Bad loan recoveries at ₹45,593 crore surpass write-offs in 2018-19: Sitharaman

• The write-offs stood at ₹36,377 crore during the year, the FM told Parliament
• The year-on-year rise in recoveries and recapitatlisation in PSBs during FY19 was much faster than the rise in write-off figures on bank loans, Sitharaman said in a written reply