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PNB Housing Finance was set up in 1988 as a deposit-taking housing finance company by state-run PNB
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The strikes by 10 drones at Saudi Aramco facilities in Abqaiq and Khurais, have disrupted more than half of its oil capacity.reuters

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Revenue pressures, profiteering fears prompt state governments to question union govt's move to cut GST rates (Photo: PTI)
Revenue pressures, profiteering fears prompt state governments to question union govt's move to cut GST rates (Photo: PTI)

States wary of any move to reduce GST rates

  • Opposition from some states may make it tough for the Centre to respond to automakers’ pleas for tax cuts
  • Some states cited revenue shortfall for opposing a move to cut GST rates

(Photo: iStock)
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Sales of pre-owned cars are estimated to increase to as many as 4.4 mn units this fiscal from 4 mn in the previous fiscal, according to Mahindra First Choice Wheels (Photo: HT)
Sales of pre-owned cars are estimated to increase to as many as 4.4 mn units this fiscal from 4 mn in the previous fiscal, according to Mahindra First Choice Wheels (Photo: HT)

Amid a sharp auto slowdown, small towns drive up sales of used cars

  • Sales of used cars are estimated to rise to as many as 4.4 million units this fiscal from 4 million in the previous fiscal
  • Car resellers expect the surge in sales of used cars to continue due to new regulations and changing consumer tastes.

Maruti’s wholesales, or factory dispatches, in August fell 36% year-on-year to 94,728 units. This is the third time the company sold less than 100,000 vehicles in a month since July 2017.ramesh pathania/mint
Maruti’s wholesales, or factory dispatches, in August fell 36% year-on-year to 94,728 units. This is the third time the company sold less than 100,000 vehicles in a month since July 2017.ramesh pathania/mint

Maruti offers discounts to revive demand during festive season

  • India’s largest passenger vehicle maker is also urging commercial banks to lower rates on vehicle loans
  • Maruti is currently offering discounts ranging from 40,000 to 100,000 on its vehicles

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Kashmir had seen the imposition of restrictions since early August before India revoked Article 370 of its constitution. (Photo: PTI)
US President Donald Trump. (Reuters)
US President Donald Trump. (Reuters)

Opinion | Trump’s U-turn on the Taliban is good for India and the world

If the US-Taliban deal had gone through, it would have invigorated jihadists across the planet

Long Reads
There is speculation that US President Donald Trump could join Prime Minister Narendra Modi at the ‘Howdy Modi’ event to be organized in Houston, Texas on 22 September. Reuters
There is speculation that US President Donald Trump could join Prime Minister Narendra Modi at the ‘Howdy Modi’ event to be organized in Houston, Texas on 22 September. Reuters

Energy deals, address to UNGA on PM’s agenda during US visit

  • Several meetings are lined up on the sidelines of the UN General Assembly, before he addresses it on 27 Sep
  • PM Modi is scheduled to meet top representatives of the US energy sector in Houston

Professor Vikrant Racherla (left), who led the R&D team that built Deshla, with IIT Kharagpur director Sriman Bhattacharyya.
Prime Minister Narendra Modi. (Photo: ANI)
Prime Minister Narendra Modi. (Photo: ANI)

Opinion | The other difficult things Modi should make us all do

Narendra Modi is a different sort of leader, one who’s so popular that only he can reform us

Maulana Mahmood Madani, general secretary of Jamiat Ulama-e-Hind. (Photo: ANI)
Maulana Mahmood Madani, general secretary of Jamiat Ulama-e-Hind. (Photo: ANI)

All of J&K and PoK part of India, there should be no compromise: Mahmood Madani

  • Pakistan does not have the courage to fight a war with us... People of Kashmir are suffering because of its proxy war policy, says Maulana Madani, general secretary of Jamiat Ulama-i-Hind
  • We support NRC (to identify illegal immigrants) but there should be no finger-pointing towards any community, says Maulana Madani

Meanwhile, the labour minister Sunday said that the youth are not outraged because of his statements and blamed Congress for creating an issue Photo: Pradeep Gaur/Mint
Meanwhile, the labour minister Sunday said that the youth are not outraged because of his statements and blamed Congress for creating an issue Photo: Pradeep Gaur/Mint

Labour minister Gangwar says ‘no shortage of jobs’, sparks political criticism

  • 'Recruiters who visit north India complain of facing dearth of quality people for the posts they need to fill,' said Gangwar on Saturday
  • Congress leader Priyanka Gandhi Vadra said the govt was trying to escape blame for the job losses due to economic slowdown by such 'insulting' comments

Plain Facts
While metro rail networks may ease road traffic woes to some extent, the efficiency of investments in them remain a matter of debate. (Ramesh Pathania/Mint)

India’s public transport challenge

3 min read . 12:16 AM IST
Federer, Nadal and Djokovic remain most successful players, with the highest win percentage this year (Photo: Reuters)

The chinks in Federer's armour

3 min read . 12 Sep 2019
In four southern states, share of people who went to a theatre about once a month was nearly twice the national average

The north-south divide in reel life

3 min read . 10 Sep 2019
Pakistan's Prime Minister Imran Khan (Photo: Reuters)
Pakistan's Prime Minister Imran Khan (Photo: Reuters)

Pakistan could lose conventional war with India: Imran Khan

  • Khan ruled out the possibility of dialogue with India in the aftermath of the country's decision to abrogate Article 370, which gave special status to J&K
  • He told Al Jazeera that a war could be consequential considering the two neighbouring countries are nuclear-armed

The backtracking on the new norms for traffic violations by various states is inexplicable given that these are designed to contain the rising incidence of road fatalities. (HT)
The iPhone 11 will be available on 27 September, with the cheapest model available around  ₹65,000
The iPhone 11 will be available on 27 September, with the cheapest model available around 65,000

The new iPhone is cheaper. Should you EMI it?

  • Easy-to-get EMI options may lure you but opt for them to buy the new iPhone only if you are sure of future revenue streams, given the slowdown
  • It is a good idea to understand the full cost of the loan and the phone before you buy the new iPhone

At the Forge incubator in Coimbatore, startups pitch to military personnel as well as learn first-hand about soldiers’ requirements on the field.
At the Forge incubator in Coimbatore, startups pitch to military personnel as well as learn first-hand about soldiers’ requirements on the field.

Defence ministry takes a shot at the startup game

  • More than 40 private tech firms are helping the government build underwater drones, see-through armour and more
  • There are vast gaps to fill. The startup world has little understanding of how the government functions. The reverse is true as well

Ram Kerur, founder and CEO of Sunlux Technovations, spent a decade developing, testing and validating home-grown controls and automation to reduce dependence on imported systems. (Ramegowda Bopaiah/Mint)
Ram Kerur, founder and CEO of Sunlux Technovations, spent a decade developing, testing and validating home-grown controls and automation to reduce dependence on imported systems. (Ramegowda Bopaiah/Mint)

Meet the go-to guy for defence, space, nuclear tech indigenization

  • Sunlux is also deploying 'life-critical systems' for the navy which will enable 'strategic import substitution,' says founder Ram Kerur
  • Ram Kerur’s journey as a deep tech entrepreneur mirrors that of India’s space and nuclear programmes, which have been a struggle every step of the way

You should buy a term cover of at least 10 times your annual income. (Photo: iStock)
You should buy a term cover of at least 10 times your annual income. (Photo: iStock)

Returns are usually low in endowment plans

  • When you take the policy, you must declare the pre-existing conditions; in your daughter’s case, you should declare that she suffers from asthma
  • The number of diseases that are restricted to a specific amount and the amount itself can be customized

Financial freedom can be made appealing by emulating the fitness industry (Photo: iStock)
Typically, it takes about 15 days to carry out the verifications and process a home loan application. (Photo: iStock)
Typically, it takes about 15 days to carry out the verifications and process a home loan application. (Photo: iStock)

Soon, you will be able to track your loan application status online

  • Given the complexity and the long process involved before a loan is sanctioned, tracking its status can help you save time and plan your next course of action accordingly
  • Some lending institutions already have a loan application tracking facility on their websites, but the service is limited to few specific type of loan applications

FM Sitharaman said the existing schemes for refund of duties and taxes to exporters will continue till the end of this year (Photo: Ramesh Pathania/Mint)
FM Sitharaman said the existing schemes for refund of duties and taxes to exporters will continue till the end of this year (Photo: Ramesh Pathania/Mint)

Modi govt seeks to lift housing market, exports to arrest economic downturn

  • Sitharaman announced a host of steps to support housing and export sectors in a bid to create more jobs and to reverse an economic downturn
  • The measures announced, include easing of foreign borrowing norms to facilitate low cost funds for affordable housing, overhaul of tax refund schemes for exporters, priority sector tag for export credit

Smoke is seen following a fire at an Aramco factory in Abqaiq, Saudi Arabia on Saturday,  (Photo: Reuters)
During the last week, the Sensex advanced 403.22 points or 1.09%. (Photo: PTI)
A drone policy 2.0 is being worked out to open up the use of UAVs to carry payloads by businesses. (Photo: Reuters)
A drone policy 2.0 is being worked out to open up the use of UAVs to carry payloads by businesses. (Photo: Reuters)

Is India prepared to deal with drone-based terrorist attacks?

  • Under the new regulations, every UAV that weighs above 250g and can fly over an altitude of 50 feet has to be registered and regulated through an online platform called Digital Sky
  • Experts feel that the govt should first try to have some kind of an anti drone system in place physically in the sky which can shoot or bring down rogue drones quickly

A file photo of Rajnish Kumar, SBI chairman (Photo: PTI)
A file photo of Rajnish Kumar, SBI chairman (Photo: PTI)

SBI shelves IPO plans for general insurance arm, card JV to hit market in Q4

  • SBI chairman Rajnish Kumar said the bank has dropped its plan to take its general insurance arm public as there is no need for additional capital now
  • SBI General, valued at over 12,000 crore recently, is a joint venture between SBI and Insurance Australia Group with a 26% ownership

Adam Neumann (centre), WeWork co-founder. The firm may seek less than half of the USD 47-billion valuation it fetched in January in a funding round (Photo: AP)
Adam Neumann (centre), WeWork co-founder. The firm may seek less than half of the USD 47-billion valuation it fetched in January in a funding round (Photo: AP)

India’s unicorns find exit doors blocked

The hype is gone with the dramatic fall in valuations of WeWork and Uber. How would that impact India’s startups?

The committee was set up in April on mines, minerals and coal sectors to identify key challenges and negate their impact. (Photo: Bloomberg)
The committee was set up in April on mines, minerals and coal sectors to identify key challenges and negate their impact. (Photo: Bloomberg)

Tata, Vedanta mining leases end in March; Govt to reject leases of many firms

  • Mining industry had sought extension of leases of all operational non-captive mines for a period of 10 years beyond 2020
  • The move will impact about 334 mines belonging to companies such as Tata Steel, Vedanta Limited and others

Fires burn in the distance after a drone strike by Yemen's Iran-aligned Houthi group on Saudi company Aramco's oil processing facilities, in Buqayq. (Reuters)
Fires burn in the distance after a drone strike by Yemen's Iran-aligned Houthi group on Saudi company Aramco's oil processing facilities, in Buqayq. (Reuters)

Saudis race to restore oil output after Aramco attacks

  • State energy producer Saudi Aramco lost about 5.7 million barrels per day of output
  • Aramco could consider declaring force majeure on some international shipments if the resumption of full capacity at Abqaiq takes weeks

The portal was launched in May 2018 to bring transparency in power purchase transactions between generators and discoms.
The portal was launched in May 2018 to bring transparency in power purchase transactions between generators and discoms.

Power gencos outstanding dues on discoms rises 57% to 73K cr in July

  • According to PRAAPTI portal, distribution companies owed a total of 46,779 crore to power generation companies in July 2018
  • Overdues of independent power producers amount to over 23.57% of the total overdue of 54,342 crore on discoms

While metro rail networks may ease road traffic woes to some extent, the efficiency of investments in them remain a matter of debate. (Ramesh Pathania/Mint)
While metro rail networks may ease road traffic woes to some extent, the efficiency of investments in them remain a matter of debate. (Ramesh Pathania/Mint)

India’s public transport challenge

An effective mass transit system for India’s large urban agglomerations can flourish only with adequate financing of buses, metros, and suburban rail

Riot Police officers block an entrance to Causeway Bay station in Hong Kong (Photo: Reuters)
(Photo: Reuters)
You could consider buying sachet plans if you already have significant health, life and accident covers
Union Finance Minister Nirmala Sitharaman (Photo: ANI)
Union Finance Minister Nirmala Sitharaman (Photo: ANI)

Opinion | Spanner removal

A 20,000-crore package for housing, half funded by the Centre, is expected to rescue affordable housing projects that haven’t yet gone bust

Photo: Aniruddha Chowdhury/Mint
Photo: Aniruddha Chowdhury/Mint

Opinion | A market for loans could yield one for corporate bonds

While RBI looks at how to create a broad-based debt market, it should lay the regulatory groundwork

NPS is a market linked, defined-contribution product that needs you to invest regularly in the funds of your choice
NPS is a market linked, defined-contribution product that needs you to invest regularly in the funds of your choice

How your investments in NPS are faring

  • There are eight pension fund managers to choose from and one of the ways to choose your fund manager is by tracking the returns
  • Here is a breakdown of the performance of different funds of the private sector NPS

If Indian companies are not borrowing and investing, that basically means they are not confident about India’s economic future
If Indian companies are not borrowing and investing, that basically means they are not confident about India’s economic future

Why companies have stopped fresh investments

  • In the past two quarters, the investment part of GDP grew just 3.6% and 4%, respectively, in real terms. The ‘twin balance sheet’ problem faced by banks and corporates is often attributed for the slow growth in investment
  • But data shows that is not the case. Mint takes a look

Photo: Sonu Mehta/Hindustan Times
In the ITR forms issued for FY2018-19, the US assignment salary would need to be shown in the “salary schedule” and “schedule of foreign assets as per the prescribed instructions in this regard (Photo: iStock)
In the ITR forms issued for FY2018-19, the US assignment salary would need to be shown in the “salary schedule” and “schedule of foreign assets as per the prescribed instructions in this regard (Photo: iStock)

Salary received abroad by ‘resident and ordinary resident’ is taxable in India

You may evaluate claiming foreign tax credits under the India-US Double Tax Avoidance Agreement, for the taxes, if any, paid in the US on the salary received during the assignment, subject to satisfaction of conditions

If you take a car loan for a short duration, the EMIs will be heavy and non-payment will mean a blot on your credit report. (Photo: iStock)
If you take a car loan for a short duration, the EMIs will be heavy and non-payment will mean a blot on your credit report. (Photo: iStock)

Car loan compared: Interest rate, EMI, processing fee

  • A loan for longer may mean smaller EMIs, which makes the car seem more affordable, but overall, you pay more as interest
  • Don’t forget that a car is a depreciating asset, so taking a bigger loan may not be the best thing to do

With most firms having order books of two-three times sales, timely asset monetization is the only road to stable growth. (Photo: Indranil Bhoumik/Mint)
With most firms having order books of two-three times sales, timely asset monetization is the only road to stable growth. (Photo: Indranil Bhoumik/Mint)

Infrastructure firms deleverage and unlock value via sale of road assets

  • The stake sale in projects under construction frees up cash, which can be utilized for future bids
  • Interest costs in 20 mid-sized listed firms in the infra segment rose sharply from 9.8% in Q4 FY19 to 16.2% in Q1 FY20

APSDRF personnel rescue passengers of a boat which capsized in the swollen Godavari river in East Godavari district of Andhra Pradesh (Photo: PTI)
Reserve Bank of India is expected to cut interest rates yet again in October. (Photo: Indranil Bhoumik/Mint)
The spotlight is on 20 September, when the GST Council is to meet and the uncertainty on the rate cut would come to an end. (Photo: Mint)
A more responsive interest rate system means the customers will get to see the financial trends reflecting in their loan accounts much faster
A more responsive interest rate system means the customers will get to see the financial trends reflecting in their loan accounts much faster

Will banks offering repo-linked rates impact NBFCs and HFCs?

  • The RBI has mandated banks to link their lending rates to an external benchmark like the repo rate to ensure faster transmission of policy rate changes to customers.
  • Nilanjana Chakraborty asks experts how partial implementation will impact these companies and their customers, and whether it will lead to new borrowers naturally gravitating towards banks now

Kae Capital founder Sasha Mirchandani.
The central bank has also not swapped dollars for rupees since April, which helped cool increases in forward premiums. (Reuters)
The central bank has also not swapped dollars for rupees since April, which helped cool increases in forward premiums. (Reuters)

Payments firm DotPe to raise fresh funds

  • The payments platform is the new venture of Shailaz Nag, the co-founder of Citrus Pay, which was acquired by PayU in 2016 and rebranded PayU India
  • The potential deal underscores growing investor interest in the payments space

The Indian Air Force has signed an over  ₹250 crore contract with Israel with Mark 84 warhead and bombs which can destroy buildings completely. (ANI )
The Indian Air Force has signed an over 250 crore contract with Israel with Mark 84 warhead and bombs which can destroy buildings completely. (ANI )

Indian Air Force receives Spice-2000 'building blaster' buster bombs

  • The Indian Air Force has signed an over 250 crore contract with Israel with Mark 84 warhead and bombs which can destroy buildings completely
  • During the Balakot strikes, the Air Force had dropped Spice-2000 bombs from Mirage-2000 fighter aircraft

UP chief minister Yogi Adityanath. Photo: Raj K. Raj/HT (Raj K. Raj/HT)
UP chief minister Yogi Adityanath. Photo: Raj K. Raj/HT (Raj K. Raj/HT)

Association with IIM-Lucknow will help UP become $1 trillion economy: Adityanath

  • For the second consecutive Sunday, Chief Minister Adityanath, all ministers of his government and IAS officer of the Secretary rank attended a day-long session on leadership development in IIM Lucknow
  • This was the second of the three-part programme that the ministers and bureaucrats are attending to learn management skills

Ayushi Gudwani
Photo: Reuters
Photo: Reuters

Opinion | The geopolitical profile of India tracks the economy’s trajectory

High growth has granted the country global relevance but others may not support us if they don’t see an economic upside

Israeli Prime Minister Benjamin Netanyahu (Photo: Reuters) (REUTERS)
Israeli Prime Minister Benjamin Netanyahu (Photo: Reuters) (REUTERS)

Israel’s Benjamin Netanyahu fights for his political survival

  • As he faces the likelihood of criminal corruption charges, a decisive victory in Tuesday’s vote may be the only thing to keep him out of the courtroom
  • Netanyahu’s daily campaign stunts have helped him set the national agenda

(Photo: Bloomberg)
Under the 'Festival of Cars' campaign, Tata is also offering cash benefits for the new customers (Tata Motors)