Salil Parekh, chief executive of Infosys. The company has dealt with whistleblower issues in the past as well (Photo: Mint)
The findings of the forensic audit into DHFL can potentially scupper the debt restructuring plan.
The findings of the forensic audit into DHFL can potentially scupper the debt restructuring plan.

25 DHFL group firms with 1 lakh avg profit took 14,000  cr loans

  • The draft forensic audit report will be presented to the board once it is finalized
  • Out of the around 27,000 cr worth of loans raised by DHFL from banks for on-lending to home buyers, around 10,050 cr was invested in mutual funds, findings of the audit revealed

Britain's Prime Minister Boris Johnson gestures as he speaks in the House of Commons in London.  (AP)
Britain's Prime Minister Boris Johnson gestures as he speaks in the House of Commons in London. (AP)

Brexit in chaos after parliament defeats Boris Johnson's ratification timetable

  • Lawmakers voted 322 to 308 against the so-called Programme Motion
  • Boris Johnson was on Saturday forced by opponents into the humiliation of asking the EU for a delay beyond 31 October

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India can be a trailblazer by taking on established industries, said the Uber chief executive (Photo: Reuters)
Nobel laureate Abhijit Banerjee, who called on Prime Minister Narendra Modi on Tuesday, said the PM discussed his vision of India as well as his efforts to reform the bureaucracy (Photo: Reuters)
Nobel laureate Abhijit Banerjee, who called on Prime Minister Narendra Modi on Tuesday, said the PM discussed his vision of India as well as his efforts to reform the bureaucracy (Photo: Reuters)

Abhijit Banerjee meets PM Modi, bats for banking reforms

  • Banerjee said there was a need to bring down the govt’s stake in PSBs to less than 50%
  • The Nobel laureate said Ayushman Bharat scheme serves a useful purpose in ensuring access to healthcare for the poor

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In the Infosys’ conference call with analysts earlier this month, an analyst had questioned the company about an unusual jump in unbilled revenues and whether there was a change in accounting policy. (Hemant Mishra/Mint)
In the Infosys’ conference call with analysts earlier this month, an analyst had questioned the company about an unusual jump in unbilled revenues and whether there was a change in accounting policy. (Hemant Mishra/Mint)

How Infosys’ accounting stands up vis-a-vis its whistleblower’s charges

  • An analyst had questioned Infosys about an unusual jump in unbilled revenues this year
  • This is reflected in the rise in fixed-price projects, where revenue recognition norms are different

Axis Bank’s asset quality improved as it wrote off  ₹3,104 crore in the second quarter of FY20. (Mint file)
Axis Bank’s asset quality improved as it wrote off 3,104 crore in the second quarter of FY20. (Mint file)

Axis Bank reports loss of 112 cr on one-off tax adjustment

  • The bank takes a hit of 2,138 cr as it restated DTA to new corporate tax rate of 25%
  • The private lender adds fresh bad loans worth 4,983 crore in the quarter ended 30 September compared to 4,798 crore in the previous quarter

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Finding it frustrating to enter card details, many shoppers simply ‘abandon’ their carts, costing retailers billions (Photo: iStockphtoto)
Finding it frustrating to enter card details, many shoppers simply ‘abandon’ their carts, costing retailers billions (Photo: iStockphtoto)

Credit card firms trying to make mobile shopping easier

  • Companies are eliminating the need to type in 16-digit card numbers and expiry dates in tiny boxes
  • Card networks debut one-click checkout that competes with PayPal, Apple Pay

India’s trade deficit with China rose from $671 million in FY01 to $63 billion in FY18  (Reuers)
Plain Facts
Prime Minister Narendra Modi (PTI file)
Long Reads
Bengaluru, Delhi, Jaipur and Mumbai accounted for 58.7% of all the economic crimes from 19 cities.
US President Donald Trump speaks during a cabinet meeting at the White House in Washington DC (Photo: Reuters)
US President Donald Trump speaks during a cabinet meeting at the White House in Washington DC (Photo: Reuters)

Donald Trump likens House impeachment inquiry to 'a lynching'

  • The highest-ranking African American in Congress warned Trump about making the comparison
  • Lynchings, or hangings, historically were mostly used by whites against black men, mostly in the South, beginning in the late 19th century

Given that costs are not disclosed in traditional plans, they should mention the net return in benefit illustrations (Photo: iStock)
On Sunday, Pakistan Prime Minister Imran Khan had said his country will open the Kartarpur Corridor on 9 November.
On Sunday, Pakistan Prime Minister Imran Khan had said his country will open the Kartarpur Corridor on 9 November.

Delayed by a day, India will sign Kartarpur pact on 24 Oct

  • India and Pakistan officials are expected to meet at the Attari-Wagah crossing to sign the pact
  • India had said that it was ‘disappointed’ with Islamabad’s insistence on levying a $20 service fee on every pilgrim crossing over to Pakistan

Bill Taylor, acting US ambassador to Ukraine, arrives to testify for a closed-door deposition before House committees on Capitol Hill in Washington, DC (Photo: Bloomberg)
Bill Taylor, acting US ambassador to Ukraine, arrives to testify for a closed-door deposition before House committees on Capitol Hill in Washington, DC (Photo: Bloomberg)

Envoy testifies Trump tied Ukraine aid to politically motivated investigations

  • William Taylor gave closed-door testimony to the three Democratic-led House of Representatives committees leading an impeachment inquiry against Trump
  • Taylor's appearance marked another pivotal development in the political drama unfolding in Washington that threatens Trump's presidency

Congress leader and former Union minister P. Chidambaram (ANI file)
Congress leader and former Union minister P. Chidambaram (ANI file)

SC grants bail to Chidambaram in INX Media case

  • Chidambaram will not be allowed to leave the country without the permission of the trial court and has to make himself available for interrogation when required
  • The top court order comes 61 days after the senior Congress leader’s arrest.

Acting Assistant Secretary of State for South and Central Asia Alice G Wells
Zuckerberg said if Facebook is prevented from building a new global cryptocurrency, tech companies in other countries like China might step in to take advantage of the opportunity (Photo: Reuters)
Zuckerberg said if Facebook is prevented from building a new global cryptocurrency, tech companies in other countries like China might step in to take advantage of the opportunity (Photo: Reuters)

Facebook CEO Zuckerberg says Libra won’t launch until US approves

  • Zuckerberg said Facebook is seeking to offer an affordable solution to existing methods of sending money abroad
  • The Libra Association was officially created last week, which means Facebook is now just one of 21 members, each with the same voting control over important decisions

(Photo: Reuters)
It is time to let go of the idea that higher taxes are the way to better welfare. (Photo: iStock)
It is time to let go of the idea that higher taxes are the way to better welfare. (Photo: iStock)

Opinion | Why higher taxes are not the way to better welfare in India

Unlike in the West, conditions in the country are not suitable for soak-the-rich policies to succeed

The monthly net SIP inflow in MFs in quarter ended September 2019 was  ₹8,253 crore, against  ₹8,238 crore figure in quarter ended April 2019 (Photo: iStock)
The monthly net SIP inflow in MFs in quarter ended September 2019 was 8,253 crore, against 8,238 crore figure in quarter ended April 2019 (Photo: iStock)

Why it doesn’t make sense to stop your SIPs mid-way

  • SIP stoppages have grown by around 4% in the past six months, according to industry data
  • Stopping SIPs is a poor strategy for an equity investor because markets give asymmetric returns over different periods

SC asked the registry to place all connected matters before the CJI for listing before an appropriate bench in last week of Jan. 2020, after the Centre formulates new guidelines for intermediaries.
SC asked the registry to place all connected matters before the CJI for listing before an appropriate bench in last week of Jan. 2020, after the Centre formulates new guidelines for intermediaries.

SC grants three months to Centre to revise social media guidelines

  • The court also transfers to itself all cases related to proposed linking of Aadhaar to social media profiles
  • SC ruling comes after the Centre had sought more time to collate and analyse information from stakeholders before finalizing and notifying the new social media rules

Allegations of malpractices are also made against Infosys CEO Salil Parekh and CFO Nilanjan Roy (pictured).mint
The Centre will foot 60% of the project cost, while 40% will be borne by the state. (Photo: Getty Images)
The Centre will foot 60% of the project cost, while 40% will be borne by the state. (Photo: Getty Images)

Karnataka govt approves 667 cr for Nirbhaya fund

  • Under the Nirbhaya Fund, 7,500 cameras to be installed in Bengaluru for women’s safety
  • The approval comes a day after the NCRB released data for 2017 showing a rise in crimes against women across India

Kotak's loan growth during the quarter slowed to 15%, versus a growth of 18% last quarter and 21% in the same period last year (Photo: Bloomberg)
Kotak's loan growth during the quarter slowed to 15%, versus a growth of 18% last quarter and 21% in the same period last year (Photo: Bloomberg)

Kotak Mahindra Bank Q2 net surges 51% to 1,724 cr; asset quality weakens

  • Gross bad loans as a percentage of total loans, a measure of asset quality, ticked up to 2.32% by end of September quarter against 2.19% in the previous quarter
  • Net interest income rises 25% to 3,350 cr

Animal husbandry has become an industrial enterprise designed to churn out livestock like widgets (Photo: Bloomberg)
Over 10% of Delhi’s teenagers are hypertensive, and nearly 25% of 5- to 9-year-olds in WB have high cholesterol
Over 10% of Delhi’s teenagers are hypertensive, and nearly 25% of 5- to 9-year-olds in WB have high cholesterol

India and its unhealthy children

Affluent states like Gujarat are failing to ensure their poorer children have a decent diet and that the richer ones are protected from lifestyle diseases

Globally, the import content in exports has risen from around 20% in the 1970s to around 40% in 2013. (Photo: Mint)
The measure is expected to help Indian Railways speed up trains.
The apex court observed it is of the view, prima facie, that the liability should be on the intermediaries to decrypt a message or provide the material to the government for decryption (Photo: Mint)
The apex court observed it is of the view, prima facie, that the liability should be on the intermediaries to decrypt a message or provide the material to the government for decryption (Photo: Mint)

SC to examine if state can seek access to citizens' social media accounts

  • SC on Tuesday transferred to itself all cases related to the issue from other high courts
  • The top court asked its registry to place the list of all connected matters before the Chief Justice of India for listing before an appropriate bench in last week of January, 2020

While investors look for interesting models within the space, the business-to-business model attracted the most funding.
(L-R) Byju Raveendran, founder and CEO of Byju’s; Ritesh Agarwal, founder and CEO of Oyo; Kunal Bahl, co-founder and CEO of Snapdeal; Sachin Bansal, co-founder of Flipkart
(L-R) Byju Raveendran, founder and CEO of Byju’s; Ritesh Agarwal, founder and CEO of Oyo; Kunal Bahl, co-founder and CEO of Snapdeal; Sachin Bansal, co-founder of Flipkart

Indian promoters claw back control

  • Founders of Indian startups are looking at ways to take back control from investors. What are the implications?
  • Founders’ attempts are driven by their need to ensure they don’t lose control of their firms since, at most Indian unicorns, investors control an overwhelming majority of shares

Prime Minister Narendra Modi and Indian-American Nobel laureate Abhijit Banerjee, who won the Nobel Prize for Economics this year, during a meeting at the PM's residence, in New Delhi (Photo: PTI)
Prime Minister Narendra Modi and Indian-American Nobel laureate Abhijit Banerjee, who won the Nobel Prize for Economics this year, during a meeting at the PM's residence, in New Delhi (Photo: PTI)

'Reduce Centre's stake below 51%': Abhijit Banerjee's remedy to banking crisis

  • Fear of a CVC probe in case of loan defaults has paralysed bankers and the banking system and this power should be taken away, says the Nobel laureate
  • He said such crises are happening repeatedly and if there is a problem in bank balance sheets, then it should be stopped way ahead before it explodes

The total operational metro network in Delhi and NCR will now become 389 km. (@OfficialDMRC)
Tuhin Kant Pandey is currently Principal Secretary, Finance, Government of Odisha (Photo: Facebook account of Govt of Odisha)
Photo: iStock
Photo: iStock
Representative image (Photo: Reuters)
Alternate products are meant for sophisticated investors or ultra HNIs who understand the product and the risks associated (Photo: iStock)
AirAsia India operates 175 daily flights over 20 destinations across the country, including New Delhi, Mumbai, Bengaluru, Hyderabad, Kolkata, and Ahmedabad. (Mint)
AirAsia India operates 175 daily flights over 20 destinations across the country, including New Delhi, Mumbai, Bengaluru, Hyderabad, Kolkata, and Ahmedabad. (Mint)

AirAsia India to increase fleet size to 29 by year-end, says COO Sanjay Kumar

  • Airline has 23 aircraft in its fleet and will induct a couple of aircraft during the next fortnight taking its fleet size to 25
  • DGCA approves the operation of 1,345 departures every week by AirAsia India in the upcoming winter schedule between 27 Oct 2019 and 28 Mar 2020

The service will be expanded to all the 210 metro stations eventually (Mint file)
BRAHMOS supersonic cruise missile.
In December 2017, the IAF had issued a single-vendor tender to the HAL for procuring 83 LCA. (PTI)
Airtel will hold between 33.8% and 37.2% in the new firm.
During the Mamallapuram informal summit between Xi and Modi it was decided to set up a high-level group to tackle India’s trade deficit with the world’s second-biggest economy. (Reuters)
A trip to Rio De Janeiro
Infosys co-founder and chairman Nandan Nilekani
Nilekani said that Infosys had placed the letter before its audit committee, which had started consultations with an independent internal auditor to probe the matter (Photo: Mint)
Nilekani said that Infosys had placed the letter before its audit committee, which had started consultations with an independent internal auditor to probe the matter (Photo: Mint)

Opinion | The Infosys investigation needs a broader ambit

The software major has been rocked by whistleblower charges that need a probe. The company has initiated one. But its scope should include fresh questions that have arisen

(Photo: AP)
Whistleblower complaints, lapses in corporate governance and internal conflicts are not new to Asia’s second largest IT-services firm Infosys (Photo: Hemant Mishra/Mint)
Whistleblower complaints, lapses in corporate governance and internal conflicts are not new to Asia’s second largest IT-services firm Infosys (Photo: Hemant Mishra/Mint)

Timeline: Governance lapses at Infosys, CEO Vishal Sikka’s exit in 2017

  • An anonymous employees’ group has accused the management, mainly CEO Salil Parekh and CFO Nilanjan Roy, of unethical accounting practices
  • Similar issues had unfolded nearly 3 years ago when the firm’s promoters had blamed the board including former CEO Vishal Sikka for misgovernance

Canadian Prime Minister Justin Trudeau (Photo: Reuters)
Canadian Prime Minister Justin Trudeau (Photo: Reuters)

Opinion | Liberals scrape through in Canada

The election results point towards an erosion in Justin Trudeau's popularity, but his victory signals that liberalism still trumps conservatism in the land of maple leaf harmony

Brian Grazer’s new book Face To Face: The Art Of Human Connection.
Brian Grazer’s new book Face To Face: The Art Of Human Connection.

The perks of making eye contact

In his new book, Brian Grazer argues that the road to innovation, creativity and good business pitches starts with having a real-life conversation

Jeff Bezos, who owns the Washington Post, is the richest man in the world with an estimated net worth of $110 billion. (AP)
Jeff Bezos, who owns the Washington Post, is the richest man in the world with an estimated net worth of $110 billion. (AP)

Who is Jeff Bezos? Asks US student as Amazon CEO stands next to him

  • The teacher of the class said "only about three" of her 15 students knew who Bezos was when he walked into the classroom
  • Jeff Bezos, who owns the Washington Post, is the richest man in the world with an estimated net worth of $110 billion