IndusInd Bank clarifies on speculation about new CEO

• IndusInd Bank said its nomination committee had finalised a potential candidate for the post of MD and CEO and forwarded an application to the RBI seeking approval

Govt plans to spend ₹1.5 lakh crore on rollout of prepaid electricity meters

• The prepaid meters are expected to help to improve billing and collection, which are the most basic problems facing the country’s ailing distribution companies, known as discoms

Oyo's Ritesh Agarwal is the world's second youngest self-made billionaire

• Oyo Hotels founder Ritesh Agarwal's wealth has been estimated at ₹7,800 crore
• Ritesh Agarwal is also the richest self-made Indian aged under 40

The great Indian grocery gig in the sky

As startups and global giants gear up to change how Indians buy grocery, the kirana store is finally in the picture

How airlines are cleaning planes amid the threat of coronavirus

• Many airlines have stepped up normal cleaning procedures to limit the risk of contamination
• They have stepped up aircraft-cleaning efforts, trying to ensure that planes used in rescue missions are safe to be put back into commercial use

Market LIVE: Equities pare losses, Sensex now down 234 points, Nifty down 64

• Australia's S&P was down 0.5%, after a loss of over 6% so far this week, while Japan's Nikkei fell 1.4%
• US crude at fresh one-year low of $48.17 per barrel in Asian trade, while gold up 0.3% to $1,644.30 per ounce

No instruction to banks on withdrawing ₹2000 notes, says Nirmala Sitharaman

• As far as I know, no such instruction has been given to the banks, Nirmala Sitharaman said
• The minister's comments come after reports of ATM recalibration to phase out of ₹2,000 notes

Govt notifies Justice Muralidhar’s transfer to Punjab and Haryana high court

• Justice Muralidhar was part division bench which had rapped Delhi police
• SC collegium had recommended transfer of Justice Muralidhar

Coronavirus vaccine won't be ready for a year, says US govt

• The first vaccine trials were expected to begin in about two months and it would take a further three months to determine safety and efficacy
• Trump did not rule out further travel restrictions and said US schools and every part of society must be prepared

Bandhan Bank may have got RBI relief, but North East worries investors

• Bad loans formed 1.93% of its loan book for Q3, up from 1.76% in Q2. Assam makes up 10% of the bank’s loan portfolio
• Concerns persist that the bank may see its asset quality deteriorate as collections become difficult amid protests

Jio to broadcast live from Char Dham temples soon

• Jio will broadcast Aarti live from major religious places of Uttarakhand
• Mukesh Ambani had met Uttarakhand CM Trivendra Singh Rawat to cooperate in net connectivity

'Balle balle': Anand Mahindra on kid who caught Melania Trump's attention

• Anand Mahindra shared a delightful video of a little boy who broke the internet with his incredible dance moves
• As the cameras caught Gaganjit dancing, Melania Trump could be seen laughing and clapping for him

Auditors to now check if firms can repay debt

• Auditors will now have to weigh in on whistle-blower complaints as well as concerns raised by outgoing auditors
• The Companies (Auditor’s Report) Order, 2020, mandates enhanced disclosures by auditors and is aimed at detecting frauds in companies before it is too late

Microsoft joins Apple, HP in scrapping quarterly outlooks due to coronavirus

• Microsoft said it doesn’t expect to meet earlier guidance for fiscal third-quarter revenue in the Windows personal-computer software
• The world’s largest software maker joins iPhone maker Apple Inc. and PC company HP Inc. in cutting estimates

Government’s new notification will allow many EPFO members to get higher pension

• If a pensioner had opted for commutation in August 2008, he or she will get increased pension from 2023
• Those who had opted for commutation in January 2005 or before are eligible for increased monthly pension

Stocks to Watch: HUL, Adani Ports, Concor, IndiGo, RITES

• NCLT Chandigarh has approved HUL's merger with GlaxoSmithKline Consumer Healthcare
• Adani Ports has incorporated a wholly-owned subsidiary Adani Bangladesh Ports

Amazon Fab Phones Fest sale: Up to 40% off on Samsung M30s, Redmi Note 8, others

• The four-day sale provides offers for smartphones of Xiaomi, Samsung, Vivo, Huawei, Realme, and other popular brands
• The sale is now live and will last till 29 February, 2020

Apple to open first retail store in India next year, confirms Tim Cook

• Tim Cook said Apple would start selling its products online in India this year
• Apple will open its first branded store in India in 2021

Facebook bans ads with false claims about coronavirus

• The ban went into effect this week
• The COVID-19 virus has now spread to at least 39 countries

Donald Trump faces credibility test as he plays down coronavirus threat

• Donald Trump encouraged Americans to be prepared for the virus' potential spread
• During his 36-hour visit to India, Trump received briefings from staff and periodically checked the impact on Wall Street

'Just call me Harry', Prince Harry says as he starts last royal duties

• The Duke of Sussex, a grandson of Queen Elizabeth II, will stop using 'His Royal Highness' from the end of March
• Harry and Meghan will join the queen on March 9 for a Commonwealth Day service at Westminster Abbey, which is expected to be their last official appearance as working royals

Delhi sends third flight to evacuate Indians in coronavirus-hit Wuhan

• The Indian aircraft is also expected to bring back around 100 Indian nationals and some others from India’s neighbouring countries
• The IAF special flight also carried around 15 tonnes of medical supplies, including masks, gloves and other emergency equipment

Don’t rush to buy 5G phone, there’s no network yet

• Smartphones such as the Samsung Galaxy S20 do have 5G variants globally, but their Indian variants do not support 5G connections right now
• Realme and iQoo are the first companies to launch 5G-ready smartphones in India

Pakistan confirms first two cases of coronavirus

• Pakistan said the two patients of coronavirus are now stable
• Both the affected patients had travelled to Iran recently

Ummeed Housing Finance raises funds led by Morgan Stanley PE

• The company aims to double its assets under management from ₹500 crore to ₹1,000 crore over the next 12-18 months
• Ummeed, the Gurugram-based affordable housing financier, started out in 2016

A revival in metal stocks hinges on a recovery in Chinese manufacturing

• On the steel front, domestic prices have been impacted by import parity
• The virus epidemic has also sent metal prices on the London Metal Exchange (LME) into a tailspin

18 FIRs, 106 arrests in Delhi violence; death toll climbs to 27

• Families of those killed in Delhi violence to get ₹2 lakh, seriously injured ₹50,000 as compensation
• The situation in the violence-hit northeast Delhi was under control and the police was doing their job, said NSA

Indian Railways turns old train coaches into restaurant. See pics

• Indian Railways converted two overaged coaches into signature restaurants
• Indian Railways is likely to generate non-fare revenue of approximately ₹50 lakh in the next five years

History shows gold’s rally may only just be getting started

• Prices have surged this year as haven-seeking investors pour in
• Markets have been shaken by worries that the coronavirus outbreak will cripple global growth

FD, bondholders spar over DHFL resolution

• Since depositors and bondholders form a sizeable chunk, they are represented in the CoC
• The RBI-appointed administrator has admitted claims of ₹86,374 crore from all classes of creditors

No uncertainty about bank merger; it is going as per the schedule: Sitharaman

Last year in August, the government announced the consolidation of 10 public sector banks into four mega state-owned lenders effective April 1

Banks to link floating rate loans to medium enterprises with external benchmarks

• All new floating rate loans to the Medium Enterprises extended by banks from 1 April, 2020 shall be linked to the external benchmarks: RBI tells banks
• The move is aimed at further strengthening monetary policy transmission

China creates billionaires faster than US, says 2020 Hurun Global Rich List

Demand for online services in China has surged, lining the pockets of billionaire founders

Stick to a budget to avoid month-end money blues

• Millennials often struggle to keep their spends under control and end up borrowing
• Investing before spending and sticking to a budget without giving in to temptations can help a lot

Mukesh Ambani, richest Indian, minted ₹7 cr every hour in 2019: Hurun List

• Mukesh Ambani was the richest Indian in 2019 with networth of $67 billion
• Uday Kotak, with a networth of around $15 billion, is the richest self-made banker in the whole world

At UNHRC, India says J&K ‘was, is and shall forever’ remain its integral part

India also slams Pakistan as the ‘epicentre of global terrorism’