Former Delhi CM Sheila Dikshit dead

• Sheila Dikshit was admitted to Fortis Escorts Heart Institute on Saturday morning in a critical state due to a cardiac problem
• Dikshit was the chief minister of Delhi for 15 years and possibly one of the longest-serving chief ministers of the Congress

PM Modi, Prez Kovind, Rahul Gandhi, other leaders condole Sheila Dikshit's death

• Sheila Dikshit had undergone heart surgery in France last year
• She had undergone angioplasty in November 2012 and was also treated for infection some time ago

Sheila Dikshit: The affable politician who gave Delhi its modern look

• Sheila Dikshit was handpicked by Rajiv Gandhi to be part of his council of ministers after he became the Prime Minister in 1984
• Dikshit was Delhi's longest-serving woman chief minister, who ruled the city state for three consecutive terms, from 1998 to 2013

IndiGo to seek shareholder nod to take woman director on board

• Having a woman independent director on board was one of the several demands made by IndiGo's co-founder Rakesh Gangwal in his letter to Sebi earlier this month
• InterGlobe Aviation CEO Ronojoy Dutta told analysts on Friday that the company was in the process of replying to Sebi on Gangwal's grievances

HDFC Bank Q1 net profit rises 21% to ₹5568 crore

• Net interest income grew 22.9 % year-on-year to ₹13,294.3 crore in April-June
• Gross NPAs, as a percentage of total advances, rose to 1.4% in the June quarter, against 1.33% a year ago

Government may tap foreign lenders for loans to small firms

• The government is looking to provide as much as $14.5 billion in credit to millions of its small firms
• The Centre is in discussions with multiple foreign lenders, including Germany's state-owned development bank KfW Group, the World Bank and some Canadian institutions

'I’m an outsider': Why Rajan didn't apply for top job at Bank of England

• In an interview, Raghuram Rajan confirmed that he didn’t apply to head up the Bank of England
• 'It’s obvious I’m an outsider,' said Raghuram Rajan

IL&FS influenced credit ratings in its favour, forensic audit report finds

• IL&FS deliberately provided incorrect or incomplete information to credit rating agencies to avoid a rating downgrade, a report said
• Grant Thornton conducted a review of the ratings provided by various credit rating agencies to major companies of the IL&FS group

Delhi govt declares two-day mourning for Sheila Dikshit

• Three-term chief minister Sheila Dikshit passed away on Saturday afternoon after suffering a cardiac arrest. She was 81
• She will be accorded a state funeral

Will Reliance Jio relent on pricing pressure after 6th consecutive ARPU fall?

• Reliance Jio's present subscriber base is 331.3 million subscribers, according to Jio’s April-June financial quarter
• Jio’s average revenue per user (ARPU) has declined consistently over the past six quarters

Aiming for the moon: Measuring India’s leap

• Going behind the scenes of the halted ‘Chandrayaan-2’ mission, Lounge takes a closer look at India’s relationship with the moon
• The Apollo 11 landings had a key impact on India’s space programme too. Isro was incorporated barely a month after the iconic moon mission.

D-Street investors shrug off complacency; focus shifts to major earnings

• For most part of the week, the India volatility index was down
• In the week ahead, the market's mood will depend largely on earnings performance of HUL, ICICI Bank, Tata Motors and L&T

New comers MG Motor and Kia buck the vehicle sales trend as incumbents struggle

• MG Motor stopped taking bookings for Hector after the company received 21000 bookings since its 4 June launch
• Kia Motors - a subsidiary of Hyundai Motor Group - got more than 6000 bookings on the first day it started taking bookings for Seltos

India’s unicorn tribe grows faster than ever this year

• 2019 alone has produced over half a dozen unicorns so far, with a new one just last week
• Unicorns created this year include Icertis, BigBasket, Rivigo, Delhivery, software firm Druva, Dream11, CitiusTech and Ola Electric

Not just in India, financials sector holding the fort across Asia

• In India, the financials sector is seen compensating for the poor performance of others
• Within financials, analysts expect corporate banks to be the main drivers in the June quarter

Mutual funds pare holdings in commercial papers in June

• MFs’ stakes in commercial paper fell 13.69% from ₹4.31 tn in May to ₹3.72 tn in June
• Mutual funds have significantly reduced their exposure to CPs in the aftermath of the IL&FS crisis

SBI, ICICI Bank, Bank of Baroda cut MCLR: What it means your home loan EMIs

• If you are an existing home loan borrower, a cut of 5-10 bps on MCLR will not bring down your home loan interest rate immediately
• If you are about to take a floating rate home loan, you are set to get relief. Banks have cut interest rate marginally

'The Lion King’ builds on franchise, opens well in India

• 'The Lion King' is the eighth Hollywood film to earn a double-digit number on its first day in India
• 'The Lion King' has started on a good note. Will be the first choice of moviegoers this week, said Taran Adarsh

From security deposit to rent hike, what draft tenancy law proposes

• The draft tenancy law proposes a cap on security deposit
• The draft also imposes penalty for failure to vacate a residential unit

Axis Bank to raise ₹18,000 crore

• Axis Bank is one of the worst-affected private sector lenders after the RBI's asset quality review, which led to a huge increase in bad loans over the past three years
• The bank's provisioning for bad loans reduced to ₹2,711 crore in the fourth quarter of 2018-19, from ₹7,179 crore a year ago

No salary hike for Mukesh Ambani for 11th year in a row

• Mukesh Ambani has kept his salary unchanged since 2008-09
• Ambani voluntarily capped his compensation in October 2009 amid a debate over right-sizing of CEO salaries

$11 million: What Google is paying to settle job seekers’ age-bias claims

• The case was brought by a woman who claimed she was interviewed by Google four times over seven years and was never offered employment because of her age
• Google said it still denies that it intentionally discriminated against Fillekes, or any of the other plaintiffs, because of their age

Hafiz Saeed created hawala network in India: NIA

• ​On 18 July, the NIA filed a chargesheet against Mohammad Husain Molani, who was related to Saeed's Falah-i-Insaniyat Foundation
• Shahid Mahmood tasked his associates Mohammad Kamran for re-routing funds from Pakistan to Dubai and further to India through hawala channels: National Investigation Agency

Sara Ali Khan to endorse new series for Vivo

• In the first quarter of 2019, Vivo had a market share of 12%, up from 6% in the year-ago period, according to research firm Counterpoint
• India's smartphone market has become more competitive with Chinese brands trying to sell more phones to Indian consumers

Netflix’s tight-lipped culture makes surprises hard to avoid

• Unlike traditional media companies, it’s very selective about the viewer information it provides
• Third parties try to fill the gaps by providing their own data on Netflix’s audience, but that can prove to be unreliable

Hogg, Mastercard CEO who introduced the Gold Card, dies at 91

• Russell E Hogg led the firm now known as Mastercard Inc from 1980 to 1988, when it was owned by a group of banks and called Mastercard International
• Hogg died July 16 at his home in Boca Raton, Florida, from natural causes, a representative for the family said

Walmart shuffles leadership team for store-digital integration

• The company will merge the teams that run the supply chain and finances for its e-commerce unit and its stores
• It comes on the heels of an announcement last month that it planned to fully integrate all Jet.com employees into the larger company and shrink the unit’s management team

Reliance Industries Q1 net rises as telecom, retail offset refining hit

• RIL’s performance in the refining and marketing segment was affected by lower product realization y-o-y
• Revenue from the refining and marketing segment was also up 6.4% during the quarter, while the segment’s operating profit declined 15.2%

How an impossible mission became a reality

• From photographic accounts to scientific analyses, here are five fresh takes on the Apollo 11 landing
• These books recount the history of how a mission that was felt to be insurmountable became possible

J&J begins compensation disbursement to receivers of faulty hip implant

• Delhi HC had directed US pharma major Johnson and Johnson Pvt Ltd to pay ₹25 lakh each to patients affected by its faulty implants
• Around 4,700 ASR surgeries were carried out in India between 2004 and 2010

10 died, several injured as huge blast rocks gas plant in China

• A blast at Henan Coal Gas Group factory left 19 people seriously injured, state media reported
• It occurred in the air separation unit of Henan Coal's factory, CCTV said

Madcap writers and moonwalkers

• Centuries before Apollo 11 landed on the moon, men were already walking on it
• Instead of technological advancement, it was the imagination of writers that made this possible

‘Dream of ages comes true’

• The Apollo 11 mission sent ripples across the world as man landed on the moon. How did Indians wake up to the news?
• Lounge goes into the archives to see how the event registered amidst news of a deputy prime minister’s resignation and the nationalization of 14 banks

Goal-based investing - The first step to financial success

• Sticking to a budget may not be enough
• Make sure that you don’t go overboard on your expenses. sometimes you have the money, but may not able to keep track of your expenses

Selling inherited gold? Income tax rules you should know

• In India, no income tax is levied on inheritance of gold but subsequent sale of the inherited gold is taxable
• Taxpayers should maintain the documentation on inherited gold: Tax experts

Garib Rath train restored on 2 routes, no plans yet to replace them: Railways

• An official from the ministry said no plans are underway to replace the Garib Rath trains, 26 of which are operational across the country
• The initiation of Mail or Express trains in the said route also means that train fare would go up passengers

Reaching the zero income tax level of ₹5 lakh

• If your taxable income is above ₹5 lakh, you can avoid paying tax by investing in certain investment instruments
• For this financial year, if your salary is ₹5 lakh, you can earn full rebate on your tax liability of ₹12,500

Don’t always play safe with FD

• Bank FD gives you are return of around 7-8% depending on the tenure and the bank
• But safety also means lower returns

Home to car to health insurance: How to be monsoon-ready

• Monsoon may bring a sense of hope, but it comes with its own set of perils — diseases and damages — that you should be covered for
• There are some comprehensive health insurance plans that cover most of these mosquito-borne diseases

Interest-free loans: Key things you should know

• Financial institutions now provide loans to pay for your food bills and even to buy clothes.
• If you are taking a loan to build an asset such as house or for your education, it is considered as a good loan

Floods continue to pile agony on people of Bihar, Assam

• In Bihar, 66.76 lakh people form 12 districts of the state have been hit by the calamity
• In Assam, 1.79 lakh hectare of agricultural land has been inundated

IndiGo’s profits may soar, but what investors want is peace

• Of course, all this is not to take away from the impressive performance in the June quarter
• Investors would rather have a firm resolution on the matter, than the company’s well-intentioned assurances

Oyo founder Ritesh Agarwal to triple his stake with $2 bn share buyback

• Agarwal is looking to buy back a part of the equity holdings of Lightspeed Venture Partners and Sequoia India
• The investment by Agarwal has been made through RA Hospitality Holdings (Cayman), the company said in a statement

‘Indian customers may drive the next innovation at Uniqlo’

• Clothes should not have attitude. People should have their individuality, says Yuki Katsuta
• We are always researching and studying trends... We want to find out what’s the next trend, and what can go on to become the next essential item

L&T Finance to exit ₹8,660-crore structured finance biz

• L&T Finance has classified its structured finance and debt capital market as 'defocused' book this quarter
• L&T Finance said it is looking to focus on core businesses such as rural lending, housing finance and infrastructure finance

FASTags to be made mandatory by 1 December, says road ministry

• FASTag is an electronic toll connection device installed in the vehicle to help drivers to drive through toll plazas without having to stop
• The move is part of the government’s plan to promote digital payments at toll plazas and decongest national highways