A file photo of Uday Kotak, founder of Kotak Mahindra Bank.  (Photo: Mint)
Moody’s said disruptions from the coronavirus outbreak will worsen the economic slowdown in India that has been underway in the past year and will accelerate a deterioration in the banks' asset quality and profitability. Photo: Reuters
Moody’s said disruptions from the coronavirus outbreak will worsen the economic slowdown in India that has been underway in the past year and will accelerate a deterioration in the banks' asset quality and profitability. Photo: Reuters

Moody's downgrades SBI, HDFC Bank amid bleak outlook for Indian banks

  • Thee ratings agency had on Monday downgraded the sovereign to just above junk status with a negative outlook
  • In absence of external capital support from the government, Moody's expects the capitalization of the PSBs to deteriorate

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The March quarter results show the impact of the covid-19 lockdown that commenced on 25 March (Photo: Ramesh Pathania/Mint)
Prime Minister Narendra Modi addresses the CII Annual Session-2020 via video conferencing, in New Delhi, (PTI)
The 10-year bond yield ended at 5.76% on Tuesday from previous close of 5.77%. (Photo: Mint)
The 10-year bond yield ended at 5.76% on Tuesday from previous close of 5.77%. (Photo: Mint)

Markets shrug off sovereign downgrade, close higher for fifth day in row

  • Sensex ends at 33,825.53, up 522.01 points or 1.57%; 50-share index Nifty closes at 9,979.10, up 152.95 points or 1.56%
  • Analysts say the downgrade is unlikely to impact the market materially since much of the recent highs are largely due to the abundant liquidity floating in the global financial system

Cyclone Nisarga (ANI)

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Maharashtra Health Minister Rajesh Tope doing rounds at Mumbai's Lilavati Hospital (Photo: @rajeshtope11 on Twitter)
Gilead’s remdesivir was earlier under trial for Ebola, but the drug could not pass clinical trials (REUTERS)
Gilead’s remdesivir was earlier under trial for Ebola, but the drug could not pass clinical trials (REUTERS)

Covid-19: DCGI approves emergency use of Gilead’s remdesivir

  • In India, Gilead has given voluntary licence for production of remdesivir to Cipla, Jubilant Life Sciences, Hetero Drugs and Mylan under a royalty-free arrangement till an alternative drug is found

Arjun Mohan, CEO (India) of upGrad, with his wife, Surbhi Bhatia, CEO and founder of The Mom Store.
Shops reopen at Nai Sarak Market in New Delhi.
Apple's second-quarter production is expected to be 35 million units (REUTERS)
If more people fall below the poverty line, it could lead to a demographic nightmare. photo: ap
A15 comes in Bonfire Black and Fortress Gray colours while A17 will be available in Fortress Gray
A15 comes in Bonfire Black and Fortress Gray colours while A17 will be available in Fortress Gray

ASUS launches new TUF gaming laptops, ROG desktops in India

  • Both laptops can pump out reliably high frame rates in a wide range of popular games
  • The new range of TUF laptops A15 and A17 feature the new 7 nanometer AMD Ryzen 4000 series mobile processors

Sensex settled 522 points higher at 33,825
Remdesivir is the first drug to show improvement in COVID-19 patients  (AP)
IndiGo has a fleet of 262 aircraft, which includes 123 Airbus A320ceos, 100 A320neos, 14 A321 nco and 25 ATRs. (Photo: Ramesh Pathania/Mint)
IndiGo has a fleet of 262 aircraft, which includes 123 Airbus A320ceos, 100 A320neos, 14 A321 nco and 25 ATRs. (Photo: Ramesh Pathania/Mint)

InterGlobe posts 871 crore loss in January-March on surge in cost

  • Even before India announced the lockdown on 25 March, Indigo's international operations had taken a hit, especially routes to China, given the emergence of the pandemic which saw counties around the world close borders and ban travel

New Delhi: Migrants ready to board a train at New Delhi Railway Station (PTI)
Vodafone also offers other packs with much lesser data balance (REUTERS)
NPS offers income tax benefits for the salaried as well as the self-employed
India has been very good in reduction of motality rate compared to other nation, said ICMR (ANI)
A man wearing a protective suit performs the last rites of his father who died of COVID-19 at Nigam Bodh Ghat, in New Delhi,  (PTI)
The State Department says the rules were prompted by Trump's 2017 order requiring heightened vetting of visa applications. (AFP)
The State Department says the rules were prompted by Trump's 2017 order requiring heightened vetting of visa applications. (AFP)

US visa rules: Twitter, internet group slam social media checks

  • The Donald Trump administration asked US visa applicants to detail their social media accounts in 2019
  • Twitter and Reddit policies clearly protect speakers' anonymity

Delhi-Gurugram and Delhi-Noida borders will be shut for a week (PTI)
This May 31, 2020, satellite image released by NASA shows Cyclone Nisarga roaring toward the western coast of India. (AP)
This May 31, 2020, satellite image released by NASA shows Cyclone Nisarga roaring toward the western coast of India. (AP)

How the cyclone Nisarga was named

  • The word Nisarga means nature
  • Tropical cyclones are named to help the scientific community and disaster managers to identify cyclones

The IMD has issued a red alert for Mumbai, its suburban districts, Thane, Palghar, Raigad, Ratnagiri and Sindhudurg districts in view of Nisarga (AP)
The new app - Delhi corona app - was launched to bridge the information gap between the citizens and hospitals
SBI said the vertical will be headed by Sanjeev Nautiyal (Bloomberg)
A Bengaluru cityscape. Photo: iStockphoto
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The user can set their own schedule and choose to have it turn on automatically
Coronavirus update: The recovery rate across India is 48% (PTI)
Mahindra Group Chairman Anand Mahindra. Photo: Bloomberg
Till May 31, 1,351 retailers participated in home delivery of liquor throughout the state.
Till May 31, 1,351 retailers participated in home delivery of liquor throughout the state.

Odisha launches new portal for home delivery of liquor

  • The portal also provides list of all the retailers within the district at one location and also the list of all the brands with MRPs available with the retailers
  • Home delivery is made by retailers directly and also through agencies like food aggregators and standard technology platforms

U.S. President Donald Trump talks to reporters as he holds a Bible during a photo opportunity in front of St. John's Episcopal Church in the midst of ongoing protests over racial inequality  (REUTERS)
U.S. President Donald Trump talks to reporters as he holds a Bible during a photo opportunity in front of St. John's Episcopal Church in the midst of ongoing protests over racial inequality (REUTERS)

Trump threatens military force against protesters nationwide

Trump said he was recommending that governors deploy the National Guard in sufficient numbers to 'dominate the streets'

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