Finance Ministry , Ministry of Finance , North Block. (Pradeep Gaur/Mint)
A woman sits in an empty street in Nice, south-eastern France. (AFP)
The government plans to amend the Act under which the state-run LIC was set up to prepare for the sale. (Mint)
The government plans to amend the Act under which the state-run LIC was set up to prepare for the sale. (Mint)

LIC IPO may spill over to next fiscal

  • The government plans to amend the Act under which the state-run LIC was set up to prepare for the sale
  • A stake sale in LIC is crucial for meeting a record 2.1 lakh crore disinvestment target set for the current fiscal ending March 31, 2021

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What makes Glaxo’s collaboration so unusual is that competition typically defines the relationship among drugmakers. (WSJ)
Hindu priest performs aarti to goddess Durga during the ongoing Durga Puja festival, at Kali Mandir Monto Road in New Delhi on Saturday. (ANI Photo)
Hindu priest performs aarti to goddess Durga during the ongoing Durga Puja festival, at Kali Mandir Monto Road in New Delhi on Saturday. (ANI Photo)

India's festive season spawns fears of renewed coronavirus surge

  • The festival season is traditionally laced with an unmatched fanfare and extravaganza, with socializing being the hallmark of the celebration
  • So far, the colorful and elaborate rituals for Durga Puja and Dussehra have been scaled down

The Government announced a scheme called, 'Scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts (1.3.2020 to 31.8.2020)'.
The Government announced a scheme called, 'Scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts (1.3.2020 to 31.8.2020)'.

Borrowers to pay simple interest on education, housing, auto loan for six months

In view of the unprecedented and extreme COVID-19 situation, the government announced a major relief for individuals and MSME borrowers by waiver of the compound interest on specified loans for six months period.

Gautam Bambawale, former Indian high commissioner to Pakistan and ex-ambassador to China and Bhutan.

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Darjeeling: Defence Minister Rajnath Singh inspect weapons at the Sukna Army Camp, in Darjeeling.) (PTI)
Earlier on October 10, Modi had invited suggestions for topics to discuss in the programme (MINT_PRINT)
The Karnataka High Court pronounced its verdict in the case involving the closure of six Franklin Templeton Mutual Fund debt schemes in slightly over four months. (Photo: Bloomberg)
The Karnataka High Court pronounced its verdict in the case involving the closure of six Franklin Templeton Mutual Fund debt schemes in slightly over four months. (Photo: Bloomberg)

What the Karnataka HC judgment on Franklin Templeton case means for MF investors

  • After taking the decision to wind up, Franklin Templeton AMC in May 2020 had given investors a choice on the administering agency for the winding up process - Deloitte or the trustees of the mutual fund, assisted by Kotak Mahindra Bank

PPFAS Mutual Fund has only three schemes on offer- two equity schemes including a multi cap fund and an ELSS or tax-saving mutual fund and one liquid debt mutual fund scheme.
Cinemas face the prospect of losing out on footfall if small-budget films release directly on OTT platforms as this will lower footfall in small towns and render going to the cinema into luxury spending, a cinema owner said.   (AFP)
Cinemas face the prospect of losing out on footfall if small-budget films release directly on OTT platforms as this will lower footfall in small towns and render going to the cinema into luxury spending, a cinema owner said. (AFP)

Theatres brace for tough times even as audiences show first signs of return

  • Production houses are demanding a greater share of revenues and a shorter window between a film's theatrical and digital release
  • Theatres are truggling with content mismatch, a lack of revenues and covid restrictions

The provident fund body said it will pay 8.5% interest for the year ended 31 March. mint (MINT_PRINT)
The provident fund body said it will pay 8.5% interest for the year ended 31 March. mint (MINT_PRINT)

Recognised PFs can invest in 'A' or higher rated securities: CBDT

  • The CBDT has now amended I-T rules, thereby diluting norms for investment purposes to bonds with minimum 'A' rating, as against the earlier requirement of 'AA' rating
  • Earlier, recognised employees provident fund trusts were required to invest in securities having 'AA' and above rating

FILE PHOTO: Tata Motors' electric sport-utility vehicle Nexon EV. (REUTERS)
FILE PHOTO: Tata Motors' electric sport-utility vehicle Nexon EV. (REUTERS)

Actively scouting for a partner for passenger vehicle biz: Tata Motors

  • Tata Motors is looking for collaboration even as the process to carve out passenger vehicle (PV) business as a separate standalone unit gathers steam
  • Earlier this year, the auto major's board had approved to form a separate entity which would house the PV business, including the EV vertical,

BMC Medical staff collects swab sample while conducting rapid antigen tests at Shivaji Park, Under BMC's 'Mission Zero' in Mumbai. (ANI)
BMC Medical staff collects swab sample while conducting rapid antigen tests at Shivaji Park, Under BMC's 'Mission Zero' in Mumbai. (ANI)

Covid-19: India's recovery rate touches 90% as active cases continue to fall

  • There are 6,68,154 active cases of coronavirus infection in the country which comprises 8.50% of the total caseload
  • The total number of coronavirus cases mounted to 7,8,64,811 and the death toll to 1,18,534, with the novel coronavirus virus claiming 578 lives in a span of 24 hours in the country

The Indian government borrows heavily in the domestic market, largely to fund its social sector and infrastructure schemes. Photo: Mint
Credit card issuers typically rely on a range of rates for financing on EMI basis
Actor Soumitra Chatterjee in his dressing room in a Calcutta theatre, 1982. Photo: Derry Moore
Actor Soumitra Chatterjee in his dressing room in a Calcutta theatre, 1982. Photo: Derry Moore

Soumitra Chatterjee's health condition deteriorates

  • Encephalopathy is a general term describing a disease that affects the function or structure of the brain
  • 'Despite the use of steroids and other prolonged efforts, he is not responding to treatment,' doctor said

A Volcan Investments Cyprus $500 million syndicated loan that matures in September. (Reuters)
A Volcan Investments Cyprus $500 million syndicated loan that matures in September. (Reuters)

Vedanta’s debt maturities are prompting credit rating warnings

  • Investors’ focus has been riveted on how Vedanta Resources will deal with its debt after opposition from minority shareholders derailed a delisting of its Indian unit Vedanta Ltd
  • Debt maturities for the Vedanta group including the parent entity over the next 12 months are around $2 bn

A cashier checks Indian rupee notes inside a room at a fuel station in Ahmedabad, India, September 20, 2018. REUTERS/Amit Dave/Files (REUTERS)
A cashier checks Indian rupee notes inside a room at a fuel station in Ahmedabad, India, September 20, 2018. REUTERS/Amit Dave/Files (REUTERS)

To retire rich, don’t leave too much to your kids

When you make your bequest is a crucial calculation. Asian societies have long experience in juggling timing and outcomes.

Democratic presidential nominee and former Vice President Joe Biden delivers remarks on Covid-19  (AFP)
Democratic presidential nominee and former Vice President Joe Biden delivers remarks on Covid-19 (AFP)

Deeply value friendship with India: Joe Biden

Joe Biden on Saturday said he and his running mate Kamala Harris deeply value America’s partnership with India.

Gold rates in India settled at  ₹50,866 per 10 gram while silver at  ₹62,425 per kg
Gold investments are good for portfolio diversification.
RSS Chief Mohan Bhagwat (Photo: ANI)
Insurance concept, man protecting a family with his hand (istockphoto)
FILE - In this July 6, 2011, file photo, Samsung Chairman Lee Kun-hee, right, greets people from the South Korean delegation in Durban, South Africa, for the 123rd International Olympic Committee (IOC) session that will decide the host city for the 2018 Olympics Winter Games. Lee, the ailing Samsung Electronics chairman who transformed the small television maker into a global giant of consumer electronics, has died, a Samsung statement said Sunday, Oct. 25, 2020. He was 78. (AP Photo/Schalk van Zuydam, File) (AP)
FILE - In this July 6, 2011, file photo, Samsung Chairman Lee Kun-hee, right, greets people from the South Korean delegation in Durban, South Africa, for the 123rd International Olympic Committee (IOC) session that will decide the host city for the 2018 Olympics Winter Games. Lee, the ailing Samsung Electronics chairman who transformed the small television maker into a global giant of consumer electronics, has died, a Samsung statement said Sunday, Oct. 25, 2020. He was 78. (AP Photo/Schalk van Zuydam, File) (AP)

Lee Kun-hee: 'Hermit king' of the Samsung empire

  • Samsung is by far the biggest of the chaebols, the family-controlled conglomerates that dominate South Korea's economy
  • Early in Lee Kun-hee's chairmanship, Samsung was seen as a shoddy producer of cheap, low-quality products.

This is probably one of the longest fire-fighting operations in Mumbai in recent times. (Twitter)
This is probably one of the longest fire-fighting operations in Mumbai in recent times. (Twitter)

Mumbai City Centre mall fire: Blaze doused after 56 hours

  • About 14 fire engines and 17 jumbo tankers were engaged in the fire-fighting operation
  • Five fire brigade personnel, including a deputy fire officer, received injuries during the fire-fighting operation

Earnings reports are due this week from Amazon, Apple, Facebook, Microsoft, Twitter and Google-parent Alphabet. (AFP)
Earnings reports are due this week from Amazon, Apple, Facebook, Microsoft, Twitter and Google-parent Alphabet. (AFP)

Big week for Big Tech as earnings, hearings loom

  • Earnings reports are due this week from Amazon, Apple, Facebook, Microsoft, Twitter and Google-parent Alphabet, whose combined value has grown to more than $7 trillion dollars
  • Google and Facebook dominate the lucrative online ad market, while Amazon is an e-commerce king

A man walks past the logo of Vedanta outside its headquarters in Mumbai. (REUTERS)
A man walks past the logo of Vedanta outside its headquarters in Mumbai. (REUTERS)

Vedanta pays $476 million dividend before potential downgrade

  • The payout will also come as a relief for Vedanta’s minority shareholders, after the company didn’t pass on a previous dividend in May by Hindustan Zinc to them
  • Vedanta Resources, which owns 50% in the Indian base metals producer, has around $2.9 billion in debt maturities due between April 2020 and March 2022

Foreign minister S Jaishankar and US secretary of state Mike Pompeo
The Karnataka high court on Saturday ruled that Franklin Templeton India’s decision to wind down its suite of six debt schemes required a simple majority consent of unit holders. (Photo: Bloomberg)
A view shows a new fountain during a ceremony at the Palm Jumeirah in an attempt to break the Guinness World Record for the largest fountain, in Dubai, United Arab Emirates. (REUTERS)
A view shows a new fountain during a ceremony at the Palm Jumeirah in an attempt to break the Guinness World Record for the largest fountain, in Dubai, United Arab Emirates. (REUTERS)

Dubai plans $136 million in support for coronavirus-hit businesses

  • The package, which will consist of rent breaks and the elimination of government fees and fines for some businesses
  • The emirate is known as the business hub of the Middle East, and has been hit hard by covid-19 as it relies on trade and tourism

There is no minimum age defined for investment in PPF. A PPF account can be opened in the name of a minor as well by the parent.
There is no minimum age defined for investment in PPF. A PPF account can be opened in the name of a minor as well by the parent.

Investing in PPF at an early age is beneficial

  • Once you compete the lock-in period of 15 years, PPF allows you to extend in blocks of five years
  • You can avail the extension with or without further deposits into the PPF. Deposits qualify for tax benefits u/s 80C

The relief will be extended through financial institutions.
'Mann ki Baat' is a radio programme, aired on All India Radio on the last Sunday of every month (MINT_PRINT)
Artists perform Ramlila during Navratri festival, in New Delhi. (PTI)
Artists perform Ramlila during Navratri festival, in New Delhi. (PTI)

Amid covid-19 restrictions, India to celebrate Dusshera today

  • Vijayadashami, also known as Dussehra, marks the victory of Goddess Durga over the invincible Buffalo king Mahishasura.
  • The occasion is seen as the day when Lord Ram defeated Ravana, which marks triumph of good over evil

Holiday decorations are displayed at Bloomingdale's Inc. flagship department store in New York. (Bloomberg)
Holiday decorations are displayed at Bloomingdale's Inc. flagship department store in New York. (Bloomberg)

How to have a covid-safe holiday season

We need to figure out how to be festive during this pandemic.

International Monetary Fund logo is seen outside the headquarters building. (REUTERS)
International Monetary Fund logo is seen outside the headquarters building. (REUTERS)

IMF urges bank regulators to extend curbs on dividends, buybacks

  • The US Fed is conducting this year’s second stress test to see whether the country’s biggest banks can withstand further economic pressures in a lingering pandemic
  • Under an adverse economic scenario considered by the IMF, the world’s banks would fall $420 billion below regulatory capital requirements

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