RBI deputy governor Viral Acharya. Photo: Mint
In redefining philanthropy by putting his money where his heart is, Azim Premji has shown the way for billionaires not just in India but across the world. (India Today Group/Getty Images)
In redefining philanthropy by putting his money where his heart is, Azim Premji has shown the way for billionaires not just in India but across the world. (India Today Group/Getty Images)

Making of Azim Premji: The Philanthropist

The inside story of how Wipro’s founder meticulously put in place the plan to give away his fortune to charity

L&T, on 17 June, launched its 10-day long open offer to purchase 31% stake from public shareholders (including Nalanda) in Mindtree at a price of  ₹980 per share.
L&T, on 17 June, launched its 10-day long open offer to purchase 31% stake from public shareholders (including Nalanda) in Mindtree at a price of 980 per share.

L&T tightens its grip on Mindtree, buys out Nalanda Capital’s stake

  • If L&T achieves all its share purchase targets, it will end up holding 66% in Mindtree, worth at least 10,800 crore
  • Last week, L&T launched its open offer to buy a 31% stake from the public shareholders of Mindtree

The penalty for drunk driving has been raised to  ₹10,000.
The penalty for drunk driving has been raised to 10,000.

Cabinet gives its nod to rules that aim to make roads safer

  • The road transport and highways ministry is expected to present the bill in the ongoing Parliament session
  • The bill also has a provision that allows the c entre to recall vehicles, in case a defect in the vehicle is causing harm to the environment or the people

Mark to Market
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Sameer Samudra (42) and his partner Amit Gokhale (40) found it difficult to negotiate the financial landscape in India when they moved in 2016.
Sameer Samudra (42) and his partner Amit Gokhale (40) found it difficult to negotiate the financial landscape in India when they moved in 2016.

Same sex couples in India lack basic financial rights

  • No legal documentation to prove their union presents hurdles for LGBTQ+ partners
  • Lack of insurance coverage from partners means that LGBTQ+ Indians need to have a higher rate of savings

Plain Facts
Huawei at present has most of its equipment installed in the network of Bharti Airtel and Vodafone Idea. (AP)
Huawei at present has most of its equipment installed in the network of Bharti Airtel and Vodafone Idea. (AP)

Huawei offers India a ‘no back door’ pact

  • Huawei, facing pressure from the US, hopes the ‘no back door’ pact will assuage India’s security concerns
  • Since the last year, the US has been pressing its allies to ban Chinese firm Huawei from 5G roll-outs

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IndiaMart IPO closes on June 26
The central government wants to reduce the import of crude oil significantly and thus help curb increasing levels of pollution.  (Pradeep Gaur/ Mint )
The central government wants to reduce the import of crude oil significantly and thus help curb increasing levels of pollution. (Pradeep Gaur/ Mint )

Why the government is pushing EVs to fight climate change

  • The accord aims to pursue efforts to limit the global temperature rise to 1.5ºC above pre-industrial levels
  • Mint looks at the government’s effort towards rapid adoption of electric mobility as a way to cut down on greenhouse gas emissions

NIPFP had said that from 1997 to 2009, illicit financial outflows was 0.2% to 7.4% of GDP. (Mint)
While Sebi already has a robust set of regulations regarding encumbrance disclosure, they proved not to be enough
(Photo: ANI)
(Photo: ANI)

Opinion | It’s time for Indian Railways to take the reform track

The railways need both administrative and engineering reforms for a $5 trillion Indian economy

The amendments are significant as NIA has been closely tracking the development of IS modules in the country. (Photo: AFP)
The amendments are significant as NIA has been closely tracking the development of IS modules in the country. (Photo: AFP)

Cabinet clears amendments to strengthen NIA, widen its ambit

  • Once both Houses of Parliament approve amendments, the agency will investigate terror cases abroad
  • The proposal to amend both the NIA Act and the UAPA has been in the pipeline since 2017

US secretary of state Mike Pompeo with Saudi Arabia’s Crown Prince Mohammed bin Salman in Jeddah on Monday. (AP)
US secretary of state Mike Pompeo with Saudi Arabia’s Crown Prince Mohammed bin Salman in Jeddah on Monday. (AP)

Pompeo discusses Iran with Gulf allies amid escalating crisis

  • The talks covered protection for ships in the Gulf, after attacks on tankers in recent weeks that US has blamed on Iran
  • Pompeo and Prince Mohammed reiterate that the ‘two countries stand side by side in confronting the hostile Iranian activities and in combating terrorism’

The government is particularly keen to find a way to get the excess reserves as it needs funds to stimulate a weakening economy hit by sagging consumption. REUTERS/Francis Mascarenhas
The government is particularly keen to find a way to get the excess reserves as it needs funds to stimulate a weakening economy hit by sagging consumption. REUTERS/Francis Mascarenhas

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

MoS for Micro, Small, Medium Enterprises and Animal Husbandry Pratap Chandra Sarangi speaks in the Lok Sabha
Congress general secretary in-charge of eastern UP Priyanka Gandhi Vadra.pti
Congress general secretary in-charge of eastern UP Priyanka Gandhi Vadra.pti

Congress disbands district panels in UP, to examine charges of indiscipline

  • The party named leader of Cong’ s legislative party, Ajay Kumar Lallu, as in-charge for organizational changes in east UP
  • The move comes on the back of Congress’ worst ever performance in the state, where it won just one Lok Sabha constituency out of 80 seats

Finance Minister Nirmala Sitharaman  (Photo: ANI)
U.S. President Donald Trump signs an executive order imposing sanctions on Iran's supreme leader,�Ayatollah Ali Khamenei, in the Oval Office of the White House in Washington, D.C. (Bloomberg )
U.S. President Donald Trump signs an executive order imposing sanctions on Iran's supreme leader,�Ayatollah Ali Khamenei, in the Oval Office of the White House in Washington, D.C. (Bloomberg )

Donald Trump imposes new U.S. sanctions on Iran, including supreme leader

  • Donald Trump also said the sanctions would have been imposed regardless of the incident over the drone
  • The Trump administration wants to force Tehran to open talks on its nuclear and missile programmes and its activities in the region

 South East Asian leaders pose for a group photo during the opening ceremony of the ASEAN leaders summit in Bangkok (Photo: AP)
South East Asian leaders pose for a group photo during the opening ceremony of the ASEAN leaders summit in Bangkok (Photo: AP)

As US-China row rages, Asean cautions against a zero-sum game

  • Leaders agrees to lead the shaping of the economic and security architecture of the Indo-Pacific region
  • The document is significant as it seems to seek a distance between China and other powers who have unveiled Indo-Pacific strategies, most notably the US

The SC bench also sought a response from the UP government regarding the deaths of children from encephalitis last year. (Photo: HT)
Viral Acharya.  (PTI )
Manish Gunwani, chief information officer, equity, Reliance Nippon Life Asset Management.
The overall cyclical weakness in these key segments has resulted in negative sentiment on the Street (Mint )
Bahujan Samaj Party (BSP) chief Mayawati (R) (Photo: HT)
Bahujan Samaj Party (BSP) chief Mayawati (R) (Photo: HT)

BSP and SP will no longer contest polls together: Mayawati

  • The attitude of the SP leadership has made her party realize they won’t be able to defeat the BJP in future, she said
  • The announcement comes a month after the announcement of the results of the Lok Sabha elections, which the two parties contested as allies against BJP

The aim of a disease-specific insurance plan is to ease your financial burden if you are diagnosed.
The aim of a disease-specific insurance plan is to ease your financial burden if you are diagnosed.

Do you need a dengue-specific health cover?

  • The rising number of dengue cases in India has prompted some insurance companies to offer dengue insurance policies. But is it value for money?
  • It is wiser to invest in regular health cover with higher sum insured than to buy many disease-specific plans

Mahindra and Mahindra Financial Services vice-chairman and managing director Ramesh Iyer. (Abhijit Bhatlekar/Mint)
 (Reuters)
(Reuters)

LIC cuts 2% stake in Axis Bank

  • LIC sold 5,25,06,202 shares through open market
  • With the sale of these shares, stake of LIC in the private sector bank has now come down to 10.2%

Facebook's vice president Nick Clegg holds a speech at the Hertie School of Governance in Berlin (Photo: AFP)
Facebook's vice president Nick Clegg holds a speech at the Hertie School of Governance in Berlin (Photo: AFP)

Governments must regulate social networks: Facebook's Clegg

  • Clegg told an audience in Berlin that countries like China would not wait for the west to set standards for the internet
  • Clegg, the former leader of British Liberal Democrats party, said there was a 'pressing need' for new 'rules of the road' on issues including data privacy and election rules

Emami Group director Mohan Goenka.
A file photo of the IL&FS office in Mumbai.
A file photo of the IL&FS office in Mumbai.

Time to redesign boards for the age of disruption

Boards can no longer afford to be passive. They must swing into a more engaged role

Bank of America Merrill Lynch managing director, global corporate and investment banking Asit Bhatia.mint
Bank of America Merrill Lynch managing director, global corporate and investment banking Asit Bhatia.mint

Long-term investors look for stability, which India has: Asit Bhatia

  • Bhatia, managing director, global corporate and investment banking, Bank of America Merrill Lynch, focuses on the outlook for foreign capital inflows
  • We have seen RBI and govt have a commonality of views. Therefore, they will ensure confidence returns, says Asit Bhatia

US Secretary of State Mike Pompeo. (AFP)
US Secretary of State Mike Pompeo. (AFP)

India, US nearing industrial security pact for defence tech transfers

  • A draft of the agreement called Industrial Security Annex will go up before the Union cabinet for approval in the next few weeks
  • Lockheed Martin and Boeing are both in the race for a deal estimated at over $15 billion to supply the Indian Air Force with 114 fighter planes to replace its ageing fleet of Mig 21 jets

TVS Motor chairman Venu Srinivasan. Photo: Mint
An empty front desk is seen inside the Jet Airways headquarters in Mumbai. (Reuters)
An empty front desk is seen inside the Jet Airways headquarters in Mumbai. (Reuters)

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

Jio's total user base now stands at 314.8 million
A similar story is playing out at SRF’s chemicals division. (Bloomberg )
DPIIT secretary Ramesh Abhishek
A file photo of tennis player Mahesh Bhupathi. (AFP)
Like Richa Agarwal (above), Sudheer Dhawan (below) too believes one needs to keep investing in learning new, relevant skills even without taking a break.
Like Richa Agarwal (above), Sudheer Dhawan (below) too believes one needs to keep investing in learning new, relevant skills even without taking a break.

How upskilling can make the return to work easier

Updating your knowledge and skills to what an employer needs now and in the near future is the only way to overcome the perceived shortcoming of a break in career

Shilpa Sharma, founder of three companies, says travel has helped her develop the ability to notice what most people miss.
 (Vipul Sharma/Mint )
Jealousy is an unintended compliment. iStockphoto
Jealousy is an unintended compliment. iStockphoto

Opinion: Envy? No, it’s just respect in disguise

Benign envy for someone with a better idea can be channelled as motivation to be your best self

(Photo: Mint)
Walmart Inc in May last year had announced that it is buying 77 per cent stake in Flipkart for about $16 billion (Mint)
Walmart Inc in May last year had announced that it is buying 77 per cent stake in Flipkart for about $16 billion (Mint)

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

Vitara Brezza was the sixth best selling model in May last year with 15,629 units.
An IndiGo Airlines Airbus A320 aircraft.  (Reuters )
India took 48% less oil from Tehran at about 275,000 bpd from Nov 2018-May 2019 (Photo: Reuters)
India took 48% less oil from Tehran at about 275,000 bpd from Nov 2018-May 2019 (Photo: Reuters)

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

The rupee open flat against the US greenback.
External Affairs Minister S. Jaishankar .  (ANI )
External Affairs Minister S. Jaishankar . (ANI )

MEA proposed manufacture of e-passports on priority: Jaishankar

  • Jaishankar said the partnership between MEA and Department of Posts is a wonderful example of the best practice in citizen-centric governance
  • He said optimal use of the technology should be made along with the tools provided by the government's initiatives under Digital India