Indians not only buy insurance online but also stick with their purchases. (Photo: Pradeep Gaur/Mint)
Centre will develop a system for cashless treatment of road accident victims during the golden hour. Photo: Aniruddha Chowdhury/Mint
Centre will develop a system for cashless treatment of road accident victims during the golden hour. Photo: Aniruddha Chowdhury/Mint

Here’s how Motor Vehicles Act will affect you

  • Your driving licence could be suspended in case you are caught speeding, racing, or driving under the influence of alcohol
  • Motor Vehicles Amendment Bill, 2019 will be introduced in the Rajya Sabha soon for its approval

Super rich tax - A sapient or a reckless move

In the latest episode of Mint Insight, Mint's Associate Editor Shrija Agrawal discusses the implications of surcharge on FPI's with Siddharth Shah, partner at Law firm, Khaitan and Co. Shah said that the tax surcharge on foreign portfolio investors (FPIs) is sending a wrong signal to a very important class of investors. Incidence of higher tax is secondary, but the move may have a negative impact on the perception of foreign investors that India has a stable regulatory and tax regime – a crucial precursor for attracting more foreign capital. It seems that the net economic implications of this decision have not been calculated – higher tax inflows vs higher capital outflows.

There is a dire need to train students in communication and other soft skills. The absence of these is the key reason why many IITians leave the campus, unemployed. Sanjeev Verma/HT
There is a dire need to train students in communication and other soft skills. The absence of these is the key reason why many IITians leave the campus, unemployed. Sanjeev Verma/HT

Super failure: Horrors of IIT dream

  • There is something deeply wrong in the IIT ecosystem, which should worry us as a society
  • What the media doesn’t report is that the median salary of a fresh IIT graduate is 8-10 lakh a year, and that even in the top IITs, 15-20% don’t get jobs on campus

Suzuki may access Toyota’s factory near Bengaluru to make models at a time when demand is not likely to grow substantially.
Suzuki may access Toyota’s factory near Bengaluru to make models at a time when demand is not likely to grow substantially.

Suzuki’s Gujarat plant to drive out fewer cars

  • Carmaker not likely to double capacity at the plant to 1.5 million vehicles
  • The move by parent Suzuki comes on the heels of Maruti’s local sales falling 19% in the June quarter

An artistic impression of Amaravati city
IndusInd has been more selective in lending to non-bank finance companies off late. Photo: Bloomberg
Mark to Market
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If investors stay put in the three schemes and there is a default, they stand to lose a substantial amount.
If investors stay put in the three schemes and there is a default, they stand to lose a substantial amount.

Aditya Birla Sun Life MF’s debt investors face cliff edge risk

  • Investors of 3 Aditya Birla Sun Life AMC schemes see their risk rise sharply as exposure to Essel grows
  • Aditya Birla Sun Life’s Medium Term, Credit Risk and Dynamic Bond funds have large exposure to the Essel Group

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Plain Facts
About a third of the S&P BSE 500 Index members have slid at least 50% from their two-year peak. (Photo: Reuters)
About a third of the S&P BSE 500 Index members have slid at least 50% from their two-year peak. (Photo: Reuters)

Buying cheap stocks in India can prove very expensive, says report

  • Only eight of the 228 stocks, which fell more than 75% since 2010, have been able to reach their previous high
  • The broader market has seen a meltdown in companies with risky debt and poor corporate governance policies

A file photo of Pramod Mittal. (Reuters)
Photo: iStock
Long Reads
Economic growth is expected to accelerate to 7.2% in the following year (Photo: Reuters)
An under construction Amrapali project in Noida.
Karnataka BJP president B.S. Yeddyurappa and other party MLAs flash the victory sign in the state assembly (Photo: Sharana Basappa/Mint)
Karnataka BJP president B.S. Yeddyurappa and other party MLAs flash the victory sign in the state assembly (Photo: Sharana Basappa/Mint)

Congress-JD(S) coalition government loses trust vote in Karnataka

  • The BJP Karnataka leadership is expected to meet its top brass in Delhi and decide the next move
  • The confidence motion, called by Kumaraswamy in a desperate attempt to stem the leaching of legislators, brought an end to the 425-day-old government

A boy wades through a waterlogged street after rainfall in Mumbai. Photo: AP
ITR Filing
The government has not yet finalised replacement of former deputy governor Viral Acharya. (Photo: Reuters)

Mint Headlines: Relief for taxpayers, Suzuki restructuring, Boris to be PM

Headlines @ Mint gives you a quick brief on the biggest events and developments expected to make news this Wednesday, including a close look at how the markets will respond in the wake of the earning announcements, relief for tax payers, Suzuki’s restructuring plan in Gujarat plant, IMF cuts India’s growth forecast, SC ruling on the Amrapli case. Also on the menu are the latest from the Karnataka political potboiler, Robert Mueller to testify in the US Congress, Boris Johnson to be next British Prime Minister and a lot more. Watch the full video to tune into your daily dose of news shorts and more.

The IMF on Tuesday projected a slower growth rate for India in 2019 and 2020, a downward revision of 0.3% for both the years. (Photo: Hemant Mishra/Mint)
The Magenta Line connects Janakpuri West station in Delhi to Botanical Garden in Noida. (PTI)
As per telecom regulator Trai figures, BSNL has a landline subscriber base of 2 crore and a mobile subscriber base of 10.5 crore. (Mint)
RIL's ranking in the Fortune Global 500 list went up by 42 positions this time. (Mint)
RIL's ranking in the Fortune Global 500 list went up by 42 positions this time. (Mint)

RIL becomes top-ranked Indian company in Fortune Global 500 list

  • Reliance has toppled state-run Indian Oil Corporation (IOC) as the top-ranked Indian company
  • Other Indian companies in the Fortune Global 500 list include ONGC, State Bank of India, Tata Motors, Bharat Petroleum

Although about 18,000 flats were put on sale under the DDA Housing Scheme 2019, the authority allotted only about 8,500 flats in the lucky draw. (HT)
Although about 18,000 flats were put on sale under the DDA Housing Scheme 2019, the authority allotted only about 8,500 flats in the lucky draw. (HT)

DDA Housing Scheme 2019: Lucky ones get flat in Delhi's Vasant Kunj

  • The draw results of the DDA Housing Scheme 2019 were announced yesterday
  • The highest price for a 3-BHK flat in Delhi's Vasant Kunj was fixed at 1.7 crore

On MCX, August gold contracts traded below  ₹35,000
Boris Johnson, leader of the Britain's Conservative Party, leaves the party's headquarters in London (Photo: Reuters)
Boris Johnson, leader of the Britain's Conservative Party, leaves the party's headquarters in London (Photo: Reuters)

Britain’s new leader Boris Johnson vows to get Brexit done by 31 October

  • Johnson won the votes of 92,153 members of the Conservative Party, almost twice the number of votes Hunt got
  • May will leave office on Wednesday after going to Buckingham Palace to see Queen Elizabeth II, who will formally appoint Johnson before he enters Downing Street

Rana Kapoor, co-promoter of Yes Bank. Bloomberg
SpaceX chief Elon Musk answers questions after the 2019 SpaceX Hyperloop Pod competition at the SpaceX headquarters in Los Angeles. (AFP)
SpaceX chief Elon Musk answers questions after the 2019 SpaceX Hyperloop Pod competition at the SpaceX headquarters in Los Angeles. (AFP)

IIT Madras students win SpaceX CEO Elon Musk's heart with HyperLoop Pod

  • Although the competition was won by Team TUM, Avishkar Hyperloop met Musk, who was all praise for their stupendous work
  • Avishkar Hyperloop is working on an indigenous design and development for building the first-ever self-propelled, completely autonomous Hyperloop Pod in India

Bansal’s debt play could be seen as an attempt to diversify his bets from the early equity investments he made as an angel investor over the years.
Sebi had enhanced the criteria by revising market wide position limit and median quarter-sigma order size. (Photo: Abhijit Bhatlekar/Mint)
Sebi had enhanced the criteria by revising market wide position limit and median quarter-sigma order size. (Photo: Abhijit Bhatlekar/Mint)

NSE to exclude 11 stocks, BSE 9 from derivatives segment

  • The exclusion of nine stocks by both exchanges comes on the backdrop of the Sebi's 11 April 2018 circular
  • Reliance Infra and Reliance Capital will be also be excluded from NSE derivatives segment

Valuations at 51 times estimated FY20 earnings are pricey but may remain resilient (Photo: Pradeep Gaur/Mint)
(Photo: Pradeep Gaur/Mint)
Mukesh Ambani, chairman and managing director, RIL.
A file photo of Hotel Leela Palace.  (Photo: Hemant Mishra/Mint)
PayPal's Hyderabad facility would house around 100 engineers across roles
Anand Piramal, executive director of Piramal Group, has invested in his personal capacity
State-run NBCC will take over and complete Amrapali’s stalled projects (Photo: PTI)
In disposing off five entities in last two years, the government did not make profitability a criteria. (Pradeep Gaur/Mint)
In disposing off five entities in last two years, the government did not make profitability a criteria. (Pradeep Gaur/Mint)

23 PSUs up for strategic disinvestment

  • The budget estimate for the move in 2019-20 has been set at 1,05,000 crore
  • The Finance Ministry informed Parliament on 22 July that in 2018-19, the proceeds from disinvestment were 84,972 crore

Imports of oil products surged by about 20.4% from a year earlier
Imports of oil products surged by about 20.4% from a year earlier

India's crude oil imports fall to more than two-year low

  • India's strong diesel demand growth is likely to decouple from the car market as motorists increasingly turn to petrol vehicles
  • Monsoon rains typically reduce the need for diesel used in irrigation pumps

Photo: iStock
Photo: iStock

Use single ink to fill in your cheques

  • Negotiable Instruments Act’s Section 87 says a material alteration in a negotiable instrument renders it void, the only exception being when the other party consents to the alteration
  • If you are issuing a cheque in question, ensure that you ‘cross’ the cheque

The advisory further stresses upon not boarding the vehicle if the information in the app does not match up. (Reuters)
If you choose to go to a hospital which does not have a tie-up with the TPA, you won’t be able to make a cashless claim but your expenses will get reimbursed by the insurer. Photo: iStock
If you choose to go to a hospital which does not have a tie-up with the TPA, you won’t be able to make a cashless claim but your expenses will get reimbursed by the insurer. Photo: iStock

Term of the day: What’s the role of a third-party administrator or TPA?

  • Third-party administrators (TPA) are essentially companies that function as intermediaries between the insurers and the insured
  • TPAs have a bigger role to play at the time of filing claims—you will first have to inform your TPA who will direct you to a hospital with which it has a tie up

Nissan is under pressure to revive its business following Ghosn's arrest. Photo: Reuters
Nissan is under pressure to revive its business following Ghosn's arrest. Photo: Reuters

Nissan to cut 10,000 jobs globally as profits decline: Report

  • Nissan’s operating profit will decline 66% to $344 million in the first fiscal quarter through June, predict analysts
  • Nissan's former Chairman Carlos Ghosn was arrested last year in Tokyo on allegations of financial misconduct

Prime Minister Narendra Modi
Prime Minister Narendra Modi

Opinion | It’s not the time for going hell for leather on tax compliance

Given falling interest rates, it’s a good time for the government to borrow more from markets

If India is a leader in preventing deaths in disasters, it is not so adept in protecting infrastructure from extreme weather.
As part of the wage code bill, the Centre will fix the national floor wage keeping in mind the geographic areas. Photo: HT
As part of the wage code bill, the Centre will fix the national floor wage keeping in mind the geographic areas. Photo: HT

Govt introduces in Lok Sabha two labour reform bills merging 17 existing laws

  • The wage code will subsume four existing laws, while the occupational health code will merge 13 related laws
  • The Central government may, before fixing the floor wage, obtain the opinion of an advisory board or state governments

Pakistan Prime Minister Imran Khan. Photo: Bloomberg
(From right) Home minister Amit Shah, PM Narendra Modi, BJP working chief J.P. Nadda and defence minister Rajnath Singh during the BJP parliamentary party meeting on Tuesday. (PTI)
(From right) Home minister Amit Shah, PM Narendra Modi, BJP working chief J.P. Nadda and defence minister Rajnath Singh during the BJP parliamentary party meeting on Tuesday. (PTI)

Govt plans to extend ongoing Parliament session by 10 more days

  • There is no official proposal from the govt yet considering the Opposition is against the proposed extension
  • Pending controversial bills, which the NDA wants to get passed in the ongoing session, include the one to ban the practice of triple talaq and the Right to Information (Amendment) Bill, 2019, which is expected to be taken up in the Rajya Sabha

The newly-constituted National List of Essential Medicines committee will decide on essential medicines and send the list to a second panel for deciding which ones are to be brought under price control.mint
The newly-constituted National List of Essential Medicines committee will decide on essential medicines and send the list to a second panel for deciding which ones are to be brought under price control.mint

Govt initiates new process to identify essential medicines

  • Committee to meet stakeholders tomorrow to shortlist drugs that should be available in assured quality
  • Stakeholders have been asked for their feedback on cardiology and cancer drugs

James Quincey, CEO of Coca-Cola.bloomberg
James Quincey, CEO of Coca-Cola.bloomberg

Coke’s coffee, zero-sugar sodas lift 2019 goals

  • A 4% volume rise in traditional Coca-Cola and its zero-sugar version helped revenue grow 6.1% to $10 bn in Q2
  • The world’s biggest beverage makers, Coca-Cola and rival PepsiCo, have been responding to changing consumer tastes

On 17 July, the Centre and Assam government had approached the apex court seeking direction for 20% sample re-verification of names
On 17 July, the Centre and Assam government had approached the apex court seeking direction for 20% sample re-verification of names

Supreme Court extends NRC deadline to 31 August

  • The extension has been allowed on the request of NRC coordinator Prateek Haleja to perform some quality checks on the NRC list
  • The case will be next heard on 7 August at 3:00 pm and all stakeholders have to be present

AirAsia India will start Delhi-Chandigarh flights from 1 August (Reuters)
Jet Airways has not flown since 18 April due to funding woes (Photo: Reuters)
Higher education, increased mobility, late marriage, financially independent women and overall prosperity are all contributing to a falling TFR
Higher education, increased mobility, late marriage, financially independent women and overall prosperity are all contributing to a falling TFR

What are India’s challenges as its fertility rate falls?

  • The government’s Sample Registration System in 22 states shows that TFR for India declined to 2.2 in 2017 after being stable at 2.3 between 2013 and 2016
  • The total fertility rate has more than halved in both urban and rural areas