President Kovind outlines NDA govt’s agenda for the next 5 years

• Scaled-up inclusive agenda, a $5 trillion economy among the top priorities
• He emphasized on creating opportunities for the youth and setting up infrastructure for the 21st century

DHFL offloads loans worth ₹2,000 crore to offshore investors

• DHFL will use the proceeds from the sale of its loans to meet immediate debt repayment obligations
• The transaction was led by SC Lowy, a privately-held banking group headquartered in Hong Kong

Apollo Hospitals looks to raise up to $200 mn by selling stakes in more units

• Proceeds from the transactions will be used to reduce promoter debt
• On Wednesday, HDFC, India’s largest mortgage financier, said it would buy Apollo Hospitals’ 50.8% stake in Apollo Munich Health Insurance for ₹1,336 crore

Mindtree proposes three board positions for L&T

• S.N.Subrahmanyan, Jayant Patil, R. Shankar Raman are among latest appointments
• The appointment of L&T executives to Mindtree’s board are subject to approval from shareholders on 16 July

South Indian remakes rule Bollywood with 18 hits in last 10 years

• Baaghi 2 and Simmba are the most successful remakes of south films, making ₹101 cr and ₹100 cr, respectively
• Rights for a south Indian hit range from ₹1.5-3 crore given that dubbed versions infiltrate TV channels

Govt initiates ₹45k-cr programme to build 6 submarines under Project 75-I

• EoI issued for selecting Indian Strategic Partner
• This is the second time the NDA government has invited private companies to bid for a major defence contract under the Strategic Partnership Model

S&P 500 hits record high as Fed sees case building for rate cuts this year

• Financials fall; energy up most among S&P sectors
• The US central bank left rates unchanged at the end of its two-day June policy meeting on Wednesday

Markets rally over 1% on hopes dovish Fed will boost FII inflows

• Sensex closed 1.25% or 488.89 points higher at 39,601.63 points, while the NSE Nifty 50 index rose 1.2% to 11,831.75 points
• The Fed decided to hold interest rates steady and hinted at a cut in rates in July

In another jolt to TDP post-electoral defeat, 4 Rajya Sabha MPs defect to BJP

• 13 ex-MLAs also held a closed-door meeting reportedly to discuss joining the BJP or the ruling YSRCP
• Moreover, the 4 MPs won’t draw the anti-defection law, which allows defections if two-thirds of a party’s legislature switch sides

Oil jumps 6% on Trump threat after Iran downs spy drone

• Iran shot down the drone near the Strait of Hormuz, a major choke point for world crude shipments
• Further solid support for oil prices, as for global stock markets, also came from the US Federal Reserve signalling it could soon cut interest rates

RBI’s MPC is united on rate cuts, but divided on fiscal stance, show minutes

• With inflation at desired levels and slowing growth, the minutes show a tilt towards a softer monetary policy
• Two weeks ahead of the budget, it’s interesting to see that the fiscal position is a concern at least in some quarters at the RBI

NCLT admits lenders' move for bankruptcy proceedings against Jet Airways

• The insolvency process will allow lenders led by State Bank of India to sell the company as a whole or sell its assets
• NCLT instructs IRP to finish insolvency process in three months since matter is of national importance

The case for doubting India’s GDP numbers

Arvind Subramanian’s conclusions about GDP growth figures are in the right direction. There’s no point being in denial

Clear indication of economy losing traction: RBI Governor at MPC meet

• The MPC in June cut its key interest rate by 25 basis points, a third straight cut since the start of 2019
• Members broadly suggested that inflation is expected to stay within the MPC's mandated medium-term target of 4% despite the upside risks

Moody’s downgrades Tata Motors on weak JLR show

• Moody's today downgraded Tata Motors' credit rating by a notch on the floundering performance of its British subsidiary Jaguar Land Rover (JLR)
• The corporate family rating and the company's senior unsecured instruments rating have also been downgraded to 'Ba3' from 'Ba2', with a negative outlook

Yes Bank share price falls to double digits, for first time in five years

• Analysts have been downgrading Yes Bank’s stock on concerns over further deterioration in asset quality
• Moody’s Investors Service this month warned of a potential downgrade on Yes Bank’s credit rating

Why are government securities the biggest gainers in the Modi 2.0 regime

• Investors have been pulling out of credit instruments in India and are moving into sovereign paper
• Market observers say that g-sec yields in the domestic credit market are expected to remain soft

Gold prices surge to cross ₹34,000, silver rates zoom

• Gold prices have rallied after US Fed signalled possible rate cut later this year
• Silver prices also zoomed to over ₹39,060 per kg

India says in talks with US on H-1B visas, no official word on limits

• Two senior Indian officials say they were briefed last week on the US plan to cap the number of H-1B visas given annually to Indians at between 10% and 15% of the total number issued
• News of the US plan to restrict H-1B visas comes days before a visit to India by US Secretary of State Mike Pompeo

Jet Airways referred to NCLT after exhausting every other option: Rajnish Kumar

• Kumar was responding to shareholders at the bank's 64th annual general meeting on Thursday
• Kumar assured shareholders that the bank has set aside more money, as provisions for Jet Airways

Income tax exemption, Section 80C deduction limits could be raised in Budget

• Higher income tax exemption limit and an increase in Section 80C deduction could put pressure on the fiscal deficit
• The current Section 80C deduction limit is ₹1.5 lakh

Why 5G is the next headache for some of India's richest men

• India seeks to raise $84 billion this year from a sale of airwaves
• Operators may soon decide how much more pain they can endure for a high-speed wireless network that can offer better user experience in streaming, gaming and entertainment

Mushrooming India growth potential driver for Facebook's Libra

• India certainly appears ripe for an “S curve”-style payments system boom
• Facebook is taking advantage of low penetration rates in emerging markets

BJP welcomes defecting Telugu Desam MPs

• There were six TDP MPs in the Upper House and the move has dealt a blow to the southern party, which has lost two-thirds of its strength
• The four MPs have apprised Rajya Sabha Chairman M. Venkaiah Naidu of their proposal

Govt to push campaign against black money at faster pace: President Kovind

• Kovind says the initiatives of the govt to check black money include cancellation of registration of 3.50 lakh suspicious firms
• The Fugitive and Economic Offenders Act has proven effective in controlling economic offenders fleeing the country, he says

Four insurance covers you must have this monsoon

• Claims for motor and health insurance see a spike during the annual rainy season
• Home insurance claims see a jump from areas that witness very heavy rains and flooding.

US exploring limit on H-1B visas for Indian professionals

• Currently, there is no current country-specific limit on H-1B work visas granted each year
• It is estimated that estimated 70% of H-1B work visas go to Indians professionals

Gold prices jump to more than 5-year high

• Gold prices saw a big jump after the US Federal Reserve indicated a readiness to cut interest rates
• Gold prices have also been boosted by US-China trade dispute and a dovish tone from other global central banks

India’s corporate bond market sees worst growth in a decade

• Demand for credit has shifted to banks from the bond market
• India’s bond market remains small compared with other major economies

When your smartphone becomes a low-cost household robot

• A prototype smartphone app, VRa, allows a user to program robots to perform dull tasks
• Using AR, the app allows the user to walk out where the robot should go to perform its tasks

Harley-Davidson, Hero gear up for India ride

• Harley-Davidson’s growing focus on India and similar markets comes amid tough conditions in its home market
• Both firms are keen to explore a potential alliance that would make Harley-Davidson bikes cheaper in India

Satya Nadella, Shantanu Narayen ranked among top 10 US CEOs by employees

• In the list of best CEOs, Facebook CEO Mark Zuckerberg came in at 55, and Apple’s Tim Cook was ranked 69
• Shantanu Narayen and Satya Nadella occupy the fifth and sixth positions, respectively

Tech Mahindra signs multi-year pact with Airbus

• Tech Mahindra said it is aiming to grow its cabin engineering business over the next few years
• This will strengthen our aerospace engineering portfolio, says Karthikeyan Natarajan, Global Head of Engineering and IoT, Tech Mahindra

New policies on industry, retail trade on anvil: President Kovind

• The reform efforts will be oriented towards bringing social equity
• A national trade welfare board will be set up

Collateral-free loans upto ₹50 lakh to be introduced: President

• President Ram Nath Kovind said a facility for entrepreneurs to avail loan up to ₹50 lakh without any guarantee will be introduced
• About 1.5 lakh post offices in the country are being prepared to provide banking services through India Post Payment Bank

Kia Seltos SUV unveiled in India: Check specifications, features, expected price

• The Kia Seltos will come with BSVI-compliant 1.5-litre petrol and diesel-engines as well as a 1.4-litre turbo petrol
• The Seltos will also get three drive modes (Normal, Eco and Sport) and terrain modes (Wet, Mud and Sand), that can be chosen by using a rotary knob positioned on the centre console

Motorola One Vision launched at ₹19,999: Full specs, pricing and more

• The smartphone will be available on Flipkart starting 27 June
• Its rivals the Redmi Note 7 Pro, Samsung Galaxy M40 and Galaxy A50

Invest up to ₹50 lakh in capital gains bonds, get LTCG tax break

• You need to reinvest the gains in capital gains bonds within six months of the asset’s transfer.
• The maximum you can invest in these capital gains bonds is ₹50 lakh per financial year

E-commerce battle moves beyond the discounts

• Focus in online retail shifting to fastest deliveries, after-sales services such as alterations, and reduction in the number of returns
• Myntra to launch 30 experience centres across India by August, where customers can pick products they ordered when convenient, return and get alterations done on the spot

Apollo Munich Health Insurance finds a new roof under HDFC

• HDFC to buy Apollo Hospitals’ 50.8% stake in health insurer for ₹1,336 cr
• The total deal size of ₹1,347 cr values Apollo Munich Health Insurance at 1.2 times the gross written premium for FY19

IL&FS auditors BSR, Deloitte facing probe heat from six agencies

• Six entities including the SFIO, the MCA, Sebi, ED, NFRA and ICAI go after two auditors of scam-hit firm and besiege them with chargesheets, petitions, show-cause notices
• The corporate affairs ministry has filed a plea in NCLT to bar the auditors of IL&FS

Moto One Vision launch today: Check expected specs, pricing, live stream link

• Moto One Vision highlights: Samsung Exynos processor, 48MP Samsung G1 sensor, 6.3-inch LCD display with aspect ratio of 21:9
• Rivals: Redmi Note 7 Pro, Samsung Galaxy M40 and Galaxy A50

'Avengers: Endgame' to be re-released with new footage, chases 'Avatar' record

• Marvels 'Avengers: Endgame' would be heading back to theaters with brand new footage
• It is not yet clear how much of the new footage will be included in the upcoming re-released film

Earthquake in Maharashtra: 4.8 magnitude quake jolts Satara district

• Two low-intensity earthquakes of magnitude 4.8 and 3 shook some parts of Satara district
• No casualty or damage to property has been reported so far

Operational creditors at par with lenders on haircuts under IBC, says Icra

• The report shows 49% of the cases have been referred by the operational creditors
• This analysis is based on the data for 92 CIRPs

President Kovind asks MPs to support 'one nation, one poll' idea

• President Kovind said that due to frequent elections, the pace and continuity of development programmes have been impacted
• Kovind urged them all to work towards building a New India and to discharge your duties with utmost sincerity over the next five years

How the middle overs are gaining currency in ODIs

Time was when overs 11 to 40 in ODIs were about preservation and accumulation. Increasingly, they are becoming another phase to stretch possibilities

How you lock your smartphone can reveal your age: UBC study

• Older users are more likely to unlock their phones when they're stationary, such as when working at a desk or sitting at home
• For every 10-year interval in age, there was a corresponding 25% decrease in the number of user sessions

Paytm to dole out incentives for merchants at kirana stores

• Paytm is targeting to partner with over 20 million retail kirana stores, enabling them to accept all digital payment modes including UPI, wallet and cards
• Paytm will invest money in offline merchant expansion instead of driving incentive led P2P transactions: Paytm Sr VP

Venture debt deals on the rise as investors double down on bets

• InnoVen and Alteria have together done follow-on rounds in about 10 companies this year alone
• Venture debt funds, unlike equity counterparts, don't allocate a portion of funds for follow-ons

Domestic air traffic may grow in the low single digits in FY20

• Domestic flyer growth expected to fall from double to single digit in current fiscal
• During fiscal year 2019, air passenger traffic grew at 13.6%, according to data from DGCA

It’s never too late to streamline your finances

The Sanklechas started putting money matters in order late in life, but with the newfound discipline, they find themselves looking at a secure future

Income-tax law does not consider all inherited assets as ancestral property

• Ancestral property is defined as one which a person inherits from any of three immediate male ancestors—father, grandfather and great grandfather
• Here’s how ancestral property is taxed under the Hindu Succession Act.

Renault pulls the plug on diesel in India, to focus on petrol vehicles

• The French firm is the second carmaker in the country after Maruti to discontinue selling diesel vehicles
• CEO Thierry Bolloré says share of diesel vehicles is reducing as a percentage of firm’s overall sales

Mumbai ED arrests two former directors of IL&FS in PMLA probe

• Arun Saha and K Ramachandra were arrested by ED as part of probe into circuitous transactions that took place at IL&FS
• This comes after the SFIO on 31 May filed its first chargesheet in the IL&FS case

Masayoshi Son sees SoftBank’s portfolio growing 33-fold in 20 years

• Son’s remarks during the shareholders’ meeting drew laughs and even feigned outrage from directors
• Son’s message to investors is that when it comes to technology, he is ahead of the curve

More Indians funding travel plans with loans, says report

• There has been a strong 33% jump in short travel breaks opted by business travellers
• Some Indian tourists economise on transport and accommodation and splurge on local and interests-based experiences