The board of directors of IndiGo will meet on Friday to approve the financial results of the airline.
The board of directors of IndiGo will meet on Friday to approve the financial results of the airline.

IndiGo says will respond to corporate affairs ministry soon

  • IndiGo’s response comes days after Rakesh Gangwal wrote to Sebi in early July, seeking its intervention to curb alleged corporate governance violations by Rahul Bhatia
  • Sebi has asked IndiGo to respond by 19 July

Finance minister Nirmala Sitharaman speaks in the Lok Sabha during the Budget Session of Parliament, in New Delhi on Thursday (PTI)
Finance minister Nirmala Sitharaman speaks in the Lok Sabha during the Budget Session of Parliament, in New Delhi on Thursday (PTI)

Foreign investors could register as companies to get tax relief: Sitharaman

  • Finance minister Nirmala Sitharaman increased taxes on anyone earning an annual incomes of more than 2 crore that will also cover trusts
  • The new rate will include 25% surcharge on income between 2 crore and 5 crore, and 37% on income exceeding 5 crore a year

Under Rana Kapoor, the total assets of the bank grew at a compound annual growth rate of 34% in the 10 years through March 2018 (Mint file)
Under Rana Kapoor, the total assets of the bank grew at a compound annual growth rate of 34% in the 10 years through March 2018 (Mint file)

Rana Kapoor loses $1 billion as Yes Bank shares slump 78% since August

  • Kapoor owns just over 10% of Yes Bank shares, including through his two holding companies, Yes Capital (India) Pvt and Morgan Credits Pvt
  • Last year, he pledged never to sell his shares, vowing to pass them on to his daughters

Sebi has revised the disclosure requirements for listed banks. Photo: Reuters
Sebi has revised the disclosure requirements for listed banks. Photo: Reuters

Sebi tweaks disclosure norms for listed banks

  • The changes made in the disclosure norms are in line with the revised RBI requirements
  • As per the circular, listed banks will have to disclose to the stock exchanges divergences in the asset classification

If Wipro continues to disappoint on growth, investors will have face the prospect of capital losses on their investment.
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 (Photo: iStock)
(Photo: iStock)

Fifth CPSE ETF tranche set to open tomorrow

  • The 2019 budget has proposed to include CPSE ETFs in the ELSS category that is eligible for tax deduction, but past returns have not been inspiring
  • Since CPSE ETFs may now come in the ELSS category, investors may have to contend with a three-year lock-in

Union Finance Minister Nirmala Sitharaman speaks in the Lok Sabha during the Budget Session of Parliament, in New Delhi on Thursday,  (PTI)
Union Finance Minister Nirmala Sitharaman speaks in the Lok Sabha during the Budget Session of Parliament, in New Delhi on Thursday, (PTI)

Seven indirect tax related laws being amended: Nirmala Sitharaman

  • The government would also be bringing changes to seven laws related to direct taxation
  • The GST alone has five different amendments that would make compliance easier for the MSME sector

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MG Hector was launched last month priced between  ₹12.18-16.88 lakh. (Bloomberg)
No US airlines allowed it and, in 2018, Congress barred the use of cellphones for calls during flights.
No US airlines allowed it and, in 2018, Congress barred the use of cellphones for calls during flights.

Are mobile phones a flight danger? They are on these Boeing jets

  • Passenger cellphones could pose a crash threat to some models of Boeing 737 and 777 airplanes
  • Many airlines now permit passengers to turn their phones to “airplane mode,' which allows Wi-Fi transmissions

Plain Facts

Before filing your tax returns this year, calculate and pay self-assessed tax

  • Taxpayers are required to pay tax on the consolidated income from all the five sources of income—income from salary, business and profession, house property, capital gains and other sources
  • Tax can be paid either offline at designated branches of banks empanelled with the I-T department, by filling up challan 280 or online through Incometaxindia.gov.in

Long Reads
Prime Minister Narendra Modi during his interaction with secretaries to the government this month. (Twitter@narendramodi)

The plan to reform India’s babudom

8 min read . 01:15 AM IST
If Boris Johnson becomes PM, he will assume leadership at a time when the old model of leadership in the UK lies exposed and a new one is yet to be born (Photo: Getty Images)

Boris Johnson: An unsuitable boy

11 min read . 16 Jul 2019
Richard Branson, president, Virgin Atlantic (Photo: Mint)

Business dreams powering a lunar race

9 min read . 16 Jul 2019
Chennai: Family members and employees offer tributes to the portrait of the P Rajagopal, founder of Hotel Saravana Bhavan chain of hotels, after he passed away due to a heart attack in Chennai. (PTI )
Chennai: Family members and employees offer tributes to the portrait of the P Rajagopal, founder of Hotel Saravana Bhavan chain of hotels, after he passed away due to a heart attack in Chennai. (PTI )

The rise and fall of 'Dosa King' Rajagopal

  • P Rajagopal opened his first hotel in 1981 and the rest was history
  • Hailing from Punnai Nagar village in Tuticorin, he started off as a grocer, like many from his Nadar community are known to

Indian Navy warships and commandos operating in Persian Gulf and Gulf of Oman to provide protection to Indian merchant vessels and oil tankers as part of 'Operation Sankalp'. 3-4 Navy MARCOS commandos each are boarding Indian oil tankers and travelling on them while protecting them in the area. (ANI )
Indian Navy warships and commandos operating in Persian Gulf and Gulf of Oman to provide protection to Indian merchant vessels and oil tankers as part of 'Operation Sankalp'. 3-4 Navy MARCOS commandos each are boarding Indian oil tankers and travelling on them while protecting them in the area. (ANI )

Indian warships to stay longer in Persian Gulf, but won't join US coalition

  • Donald Trump has been putting pressure on European and Asian allies to shoulder security responsibilities and not depend on the United States alone
  • India is the biggest buyer of Iranian oil after China

Unoccupied retail space is seen at Dubai Mall, in Dubai, United Arab Emirates. (Reuters )
Unoccupied retail space is seen at Dubai Mall, in Dubai, United Arab Emirates. (Reuters )

Dubai's big spenders tighten purse strings

  • The introduction of a 5% value-added tax last year and weaker consumer confidence in an economy which grew 1.94% in 2018, the slowest since 2009, have hurt retailers
  • The retail economy of one of the world's leading shopping capitals has suffered from lower oil and property prices

A Dassault Rafale fighter.  (Reuters )
Credit growth to the services sector also lost steam and grew at a much slower pace of 14.8% in May (Aniruddha Chowdhury/Mint)
Credit growth to the services sector also lost steam and grew at a much slower pace of 14.8% in May (Aniruddha Chowdhury/Mint)

Credit, deposit growth manage to remain in double- digits

  • Personal loan growth slowed to 16.9% in May from 18.6 percent in the year ago period
  • On a year-on-year basis as of May, non-food credit increased 11.4% from 11.1%

Greenko founder and president Mahesh Kolli (left) and CEO Anil Kumar Chalamalasetty. (Mint)
The logo of IndiGo Airlines. (Reuters)
The stock is currently trading at nearly 40 times its estimated earnings for 2019-20 (Bloomberg file)
The stock is currently trading at nearly 40 times its estimated earnings for 2019-20 (Bloomberg file)

Colgate-Palmolive Q1 results: No nasty surprises bring cheer

  • The general consumption slowdown in the country had kept investor expectations for consumer companies under check
  • Colgate’s domestic sales of toothpaste and other oral care products rose 6% in Q1, on the back of a 4% increase in volumes over the year-ago period

European Antitrust Commissioner Margrethe Vestager talks to journalists during a news conference at the European Commission headquarters in Brussels.  (AP )
European Antitrust Commissioner Margrethe Vestager talks to journalists during a news conference at the European Commission headquarters in Brussels. (AP )

EU fines chipmaker Qualcomm for 'predatory pricing'

  • Qualcomm said it plans to appeal Thursday's fine to an EU court and denied the charges
  • The fine of 242 million euros represents 1.27% of Qualcomm's 2018 revenue

Netflix's announcement was part of its quarterly results, in which it reported lower-than-expected subscriber additions. (AFP)
Netflix's announcement was part of its quarterly results, in which it reported lower-than-expected subscriber additions. (AFP)

Netflix to roll out cheaper mobile-only subscription plan in India

  • Netflix's new subscription plan is aimed at battling cheaper offerings from rivals such as Amazon Prime Video and Hotstar
  • Netflix currently offers three monthly plans in India, priced between 500 rupees and 800

 (Photo: AFP)
 (Photo: Ramesh Pathania / Mint)
(Photo: Ramesh Pathania / Mint)

New amendments to IBC will protect interest of homebuyers: Centre to SC

  • The counsel appearing for the homebuyers had said they apprehend that JIL may be sent for liquidation which could hamper their interest
  • The Centre told this to a bench comprising justices A M Khanwilkar and Dinesh Maheshwari, hearing the homebuyers matter of Jaypee Infratech Ltd

RIL will report its first quarterly earnings on Friday (Mint file)
As part of the agreement, some of eBay’s inventory will be made accessible on Paytm Mall.
Trevor Bayliss (Photo: Trevor Bayliss)
India typically receives 75% of its annual rain from the June-September monsoon as moisture-laden winds sweep in from the southwest of the peninsula
India typically receives 75% of its annual rain from the June-September monsoon as moisture-laden winds sweep in from the southwest of the peninsula

Monsoon rains 20% below average in past week, raising crop worries

  • India has received 16% below average rain since the monsoon season began on June 1
  • Monsoon rains turned patchy over the central, western and southern parts of the country, raising concerns over the progress of crop plantings

England were first-time winners of the cricket World Cup. (Photo: Reuters)
England were first-time winners of the cricket World Cup. (Photo: Reuters)

World Cup 2019: Withdrawal symptoms

  • A fan looks back at ‘bits and pieces’ of the recently concluded Cricket World Cup in England
  • To call it a bowler’s tournament would not be a stretch, and that can only be good for the game

MG Motors' Hector SUV (Abhijit Bhatlekar/Mint)
To attract FDI, it suggested improving the business climate, easing domestic supply bottlenecks, and liberalising trade and investment (Reuters)
To attract FDI, it suggested improving the business climate, easing domestic supply bottlenecks, and liberalising trade and investment (Reuters)

India's current account balance deficit grew to $68bn in 2018-19: IMF

  • India's overall international reserves, though stood at $411.9 billion at the end of March this year, down from March last year by $12.5 billion
  • The IMF said that India has to attract more stable sources of financing to reduce vulnerabilities

 (Photo: iStock)
 (Photo: iStock)
(Photo: iStock)

Travelling abroad? Here is how to stay away from the foreign exchange counter

Some banks’ multi-currency cards allow you to lock in the price of the forex at the time of buying

Hafiz Saeed (Reuters file)
Hafiz Saeed (Reuters file)

Bring Hafiz Saeed to justice, India urges Pakistan

  • This is not the first time that Hafiz Saeed has been arrested or detained. This drama has taken place at least eight times since 2001: Indian foreign ministry spokesman Raveesh Kumar
  • 'The question is whether this time Saeed will be tried and sentenced for his terrorist activities'

P Rajagopal had surrendered before a local court to serve life sentence in a murder case and had been shifted to Vijaya Hospital. (ANI)
P Rajagopal had surrendered before a local court to serve life sentence in a murder case and had been shifted to Vijaya Hospital. (ANI)

Saravana Bhavan founder P Rajagopal dies in Chennai

  • Saravana Bhavan owner P Rajagopal died at a private hospital in Chennai
  • He was sentenced to life imprisonment in a murder case

The tiger has entered a house and is relaxing on a bed. (ANI )
The tiger has entered a house and is relaxing on a bed. (ANI )

Flood fury forces Kaziranga tiger to take shelter in shop

  • Several famed one-horned rhinoceros and other animals have reportedly died in the floods
  • Over 95% of the Park is submerged, rendering animals shelterless and forcing them to look for refuge in human habitations

Logos of US social network Instagram are displayed on a screen of a smartphone.  (AFP )
Logos of US social network Instagram are displayed on a screen of a smartphone. (AFP )

Indian bug hunter finds flaw in Instagram, wins $30,000

  • The first bug could have zapped all your photos without knowing your password
  • The second meant tricking you to install an innocent-looking mobile app that could riffle through all your Facebook pictures without being given access to your account

Silver lining for the farm sector (Mint file)
Algos scour social media for clues to Bitcoin price movement
Every month, the IGD would transfer the equivalent of 1% of India’s GDP per capita. (Photo: Reuters)
Former Union minister Arun Jaitley launched a scathing attack on Pakistan’s subversion of diplomatic norms, in Kulbhushan Jadhav’s case. (Reuters)
Former Union minister Arun Jaitley launched a scathing attack on Pakistan’s subversion of diplomatic norms, in Kulbhushan Jadhav’s case. (Reuters)

Arun Jaitley slams Pakistan’s subversion of diplomatic norms in Kulbhushan case

  • Jaitley, who had served as the Union defence minister in 2017, debunked claims by Pakistan of the judgment being a victory for the neighbor country
  • External affairs minister Subrahmanyam Jaishankar has now pressed for repatriation and release of Kulbhushan Jadhav

While the peers are talking about sustainability or acceleration in growth momentum, Wipro is alluding to a flat performance. (Photo: Mint)
While the peers are talking about sustainability or acceleration in growth momentum, Wipro is alluding to a flat performance. (Photo: Mint)

Wipro’s struggle with growth will leave investors unimpressed

  • Management is hopeful that healthy deal pipeline will strengthen growth in rest of the fiscal year
  • Softness in BFSI, and delays in ramp-up of projects weighed on the revenue growth

Nellore: A view of the Chandrayaan-2 on board GSLVMkIII-M1 at Satish Dhawan Space Centre in Nellore district, Saturday, July 13, 2019.  (Photo: PTI)