Karnataka transport department suspends Ola’s licence for six months  

• Ola's license was suspended for operating two wheeler taxis in violation of existing provisions of the act
• Both Ola and Uber had run into trouble with the transport department when it began offering two wheeler taxi services in 2016

Govt exceeds disinvestment target for 2018-19, proceeds touch ₹85,000 crore

• The government has mopped up ₹9,500 crore from the fifth tranche of CPSE ETF and ₹14,500 crore from the REC-PFC deal
• The disinvestment target for the next fiscal year has been fixed at ₹90,000 crore

Property distress in India has Piramal prowling for acquisitions

• Piramal Realty's sales have quadrupled this year to ₹30 billion, fueled by new projects in the south of Mumbai
• Anand Piramal says more land will become available in the next six to nine months as some distressed developers are forced into bankruptcy

SpiceJet leasing Jet Airways’ grounded planes to keep fares in check

• SpiceJet is likely to take around 50 aircraft on lease from lessors, according to sources
• Jet Airways is currently operating 41 of the 119 planes in its fleet 

Tata Coffee appoints Chacko Purackal Thomas as MD And CEO

• Thomas will replace the current MD and CEO Sanjiv Sarin following his retirement effective 31 March
• He currently works as the executive director and deputy CEO of the Tata Group firm

Economic affairs secretary SC Garg defends data revisions amid controversy

• Revisions to economic statistics are a fact and the revisions themselves are based on facts, says Subhash Chandra Garg
• 108 economists last week accused the Centre of deliberately revising or withholding statistics that show the government in poor light

China trade deal will probably happen, says Donald Trump

• America likely to keep a 25% tariff on European light trucks amid separate ongoing trade talks with the European Union
• Companies can avoid it by building factories in the US: Donald Trump

Fitch cuts India GDP growth forecast for FY20 to 6.8%

• Fitch Ratings expect Indian GDP growth to hold up reasonably well, at 6.8%, followed by 7.1% in FY21
• Fitch has also cut growth forecasts for FY20 and FY21 to 7% from 7.3% and 7.1% from 7.3%, respectively

National Geographic Traveller biz ventures into India

• It is not a travel company but can offer fantastic experiences like any vendor
• The National Geographic Expedition offers everything from train and land journeys to private jet expeditions

Sebi fines 4 entities ₹27 lakh for fraudulent trading in BSE stock options

• Umapati Oil Mill and Ginning Factory, Yudhbir Chhibbar, Kasturbhai Mayabhai Pvt Ltd and Vimladevi Shyamsunder Khetan are the four entities
• The regulator found that the trades executed by the entities were not genuine as they were reversed within few seconds

RIL denies sidestepping US sanctions on Venezuela

• RIL's denial comes after a report said that the company has sidestepped US sanctions on Venezuela by selling fuel from India and Europe to Venezuela
• RIL has been in continuous communication with the US Department of State regarding its activities in Venezuela

Jet Airways suspends 12 international services till April-end

• As per industry estimates, Jet has total debt of ₹8,000 crore in addition to payables such as vendors' dues worth ₹15,000 crore
• One service has been cancelled due to Pakistan airspace closure and not due to fleet truncation

Nokia plays down compliance issues after shares drop

• Nokia sought to play down the risks of an investigation into compliance issues at its Alcatel-Lucent business after its shares fell sharply
• Nokia flagged the issue in its annual report which was released late on Thursday to the US Securities and Exchange Commission

DMK wants release of Modi biopic deferred, writes to poll panel

• The Vivek Oberoi-starrer, titled PM Narendra Modi, is expected to hit the theatres in the first week of April
• The letter has been addressed to the chief election commissioner, as well as local election authorities

Sterling Biotech case: Hitesh Patel held in Albania

• Patel, wanted by the ED, was detained by law enforcement officials of Albania in the capital city of Tirana on Wednesday
• Patel is an accused in a ₹5,000 crore money laundering case -- as part of the ₹8,100 crore bank loan fraud allegedly perpetrated by the Sterling Biotech Group

Sebi issues valuation of debt securities rated below investment grade

• Sebi said all money market and debt securities which are rated below investment grade shall be valued at the price provided by valuation agencies
• Till the agencies compute the valuations, such securities would be valued on the basis of indicative haircuts provided by the agencies

Statistical Institute submits report on paper trail count to Election Commission

• Refusing to divulge much, sources in the poll panel claimed the ISI was of the view that "5%" match would be sufficient to enhance voters' faith in the EVM
• There have been demands by parties to increase the number of polling stations where VVPAT slips are matched with EVM results

Karnataka cabinet minister and Congress leader C.S.Shivalli dies at 57

• Shivalli had been aiding rescue efforts in Dharwad district where a building collapsed and had so far claimed the lives of 15 people
• Shivalli, a legislator from Kundagol in Dharwad district, collapsed while talking to locals in the district

President Ram Nath Kovind to visit Croatia, Bolivia and Chile next week

• Kovind will first visit Croatia from March 25-28 in what would be the first visit by an Indian president to the European country
• Kovind will head to Bolivia on March 28 for a three-day visit, the first high-level visit to the country since the establishment of diplomatic ties

RBI again defers Indian Accounting Standards implementation by banks

• RBI had postponed the implementation of the Indian Accounting Standards (Ind AS) by the banks by one year
• The RBI in February 2016 had proposed implementation of new accounting standards for banks for both standalone financial statements and consolidated financial statements

Garuda Indonesia seeks to cancel order for 49 Boeing Max 8s

• It is the first announcement of a cancellation since Boeing's new model aircraft were grounded following fatal crashes
• Garuda joined other airlines worldwide in grounding its one Max 8 jet after the crash of an Ethiopian Airlines flight this month

Friend of Rohith Vemula to contest AP assembly polls

• Kumar, a native of AP’s Parakasam district, will represent the Bahujan Samaj Party (BSP) and contest from the Parchur seat
• The death of Vemula became a major issue since it was alleged that he took his life due to caste discrimination

Congress seeks probe into Yeddyurappa’s alleged payouts to top BJP leaders

• Yeddyurappa was reacting to statements made by the Congress based on an article published on Friday by the Caravan magazine
• The allegations against Yeddyurappa come weeks before the country heads to polls in which Prime Minister Narendra Modi is seeking another term

NSEIT acquires cybersecurity company Aujas

• Founded in 2008, Aujas has operations in India, the Middle East and North America
• NSEIT currently provides technology solutions across industries such as capital markets, financial markets, banking and insurance

Power Grid Corporation pays ₹1,600 crore interim dividend to govt for 2018-19

• The total interim dividend disbursed was ₹3,050.02 crore for 2018-19 to about 5.91 lakh shareholders of the company
• Power Grid Corporation handed over electronic payment remittance advice for payment of ₹1,629.62 crore for 2018-19 to the Government of India

Aviation stocks up 7% even as DGCA report shows slow passenger growth

• Stock of SpiceJet zoomed 7.04 % to ₹98.10. Intra-day, it rose 14.23 % to touch a high of ₹104.70.
• InterGlobe Aviation closed the counter with 0.28 % gains at ₹1,426.85. During the day, it was trading at ₹1,459.30, up 2.56 %

Biggest India bond holders ditch government paper for state debt

• Banks are buying state bonds and moving them to the so-called held-to-maturity group
• India’s $807 billion sovereign-debt market is battling poor demand and increased volatility ahead of Lok Sabha polls

Former cricketer Gautam Gambhir joins BJP, likely to contest Lok Sabha polls

• Gautam Gambhir is likely to fight Lok Sabha elections from one of the seven seats in Delhi
• The former opening batsman joined BJP in the presence of Union ministers Arun Jaitley and Ravi Shankar Prasad

In bad news for borrowers, NBFCs’ funding cost zooms to multi-year highs

• Debt concerns have pushed funding costs for non-bank financing companies to multi-year highs in recent weeks
• The problems started late last year following shock defaults at shadow lender IL&FS group

Why heavyweights like Mayawati and Pawar are giving Lok Sabha elections the miss

• BSP chief Mayawati said she will not contest this year’s Lok Sabha election
• NCP chief Sharad Pawar is making way for the next generation in his family to contest 

Alto best selling model in February; Maruti makes clean sweep of top six spots

• According to the latest data by SIAM, Alto had sold 19,941 units in February last year
• Alto overtook MSI's compact sedan Dzire which was the best selling model in the same month last year

WhatsApp Business now available on iOS: well, almost

• The company has not officially announced the rolling out of its Business app, but some users from Mexico, Brazil and Argentina confirmed the availability
• WhatsApp Business was announced back in September 2017 and launched for Android in January 2018

India one of world's fastest growing large economies: IMF

• Details about the Indian economy would be revealed in the upcoming World Economic Outlook (WEO) survey report
• This report would be the first under Indian American economist Gita Gopinath, who is now IMF's chief economist

How PNB fraud exposed chinks in India's banking industry

• Nirav Modi's arrest seen as a milestone in India's efforts to deal with those attempting to dupe the banking industry
• An increasing number of bank frauds has led to bankers becoming very cautious in making lending decisions

Mindtree board to meet again on 26 March

• L&T has entered into a deal to buy Cafe Coffee Day owner V G Siddhartha's 20.32 % stake in Mindtree
• Mindtree CEO and promoter Rostow Ravanan said the company's board would deliberate on the buyback or the open offer within the framework of the law

Facebook fixes glitch that exposed millions of user passwords to employees

• Facebook said the issue was discovered in January as part of a routine security review
• The passwords were accessible to as many as 20,000 Facebook employees

SBI stands by Jet Airways but wants Naresh Goyal to step down

• SBI asks Naresh Goyal, his wife Anita, and two nominee directors, Nasim Zaidi and Gaurang Shetty, to step down from the board as well as executive roles
• SBI chairman Rajnish Kumar says lenders would make all efforts to keep Jet Airways from slipping into bankruptcy

Sensex less than 500 points away from record high as rally continues: 10 updates

• Bank Nifty hit the important milestone of 30,000, continuing its record run
• The Sensex has rallied over 7% so far this month

India risks fresh bad debt pile up as weak banks resume lending

• India already has the world’s worst bad-loan ratio
• Of the 11 banks on whom tough restrictions were placed since 2014, five have recently been allowed to exit RBI's PCA sanctions

A culture shock awaits Mindtree employees under L&T

• Mindtree has an informal work culture: many of its employees call members of the founding team by their first names
• In contrast, Larsen and Toubro's (L&T) work culture is based on command-and-control and top-down management

Not a very Happy Holi for Nirav Modi in UK jail

• Nirav Modi, one of India's richest men accustomed to the high-life and celebrity circles around the world, will be faced with some harsh conditions at the prison
• The living conditions will certainly be in stark contrast to the luxury apartment at Centre Point in the West End of London where Modi has been living over the past year

Pierer Industrie in talks with Bajaj Auto for 48% stake in KTM

• Bajaj Auto and Pierer Industrie AG have started discussions to assess the possibility of transferring Bajaj's 48% stake in KTM AG to KTM Industries AG
• The transaction decision is targeted to be made in the second quarter of 2019

Film review: 'Kesari' has little to offer besides numbing violence

• The film is based on a real-life battle where 21 Sikh soldiers fought an army of 10,000
• Akshay Kumar stars as the leader of the regiment

Rupee strengthens to 68.63 a dollar on Fed outlook

• So far this year, the rupee has gained 1.4%
• The 10-year bond yield was trading at 7.328% from its Wednesday's close of 7.361%

Netflix may test low-cost mobile subscription in India 

• Currently the video-on-demand platform has plans starting at Rs. 500 per month in the country, much higher than rival players
• Amazon Prime Video charges ₹999 for a year and Hotstar that works with Rs1200 annually.

Reliance selling fuels from India to Venezuela to avoid US sanctions

• At least three vessels chartered by Reliance supplied refined products to Venezuela in recent weeks
• In a statement last week, Reliance said its US unit has completely stopped all business with PDVSA

Religare Enterprises rebranding Finvest after Singh brothers exit

• Religare Enterprises is looking to spruce up Religare Finvest under a new brand and investment of ₹600 crore to 're-orient' the business
• Religare Enterprises is in advanced talks with two marque domestic equity investors for growth capital for Religare Finvest

Facebook admits storing passwords in plain text

• The blunder was uncovered during a routine security review early this year, according to Canahuati
• The exact number had yet to be determined, but archives with unencrypted user passwords were found dating back to the year 2012

IndiGo continues to recruit expat and 'out-of-job' pilots

• Shortage of trained and experienced pilots has been an issue for domestic airlines amid capacity expansion
• IndiGo is facing acute shortage of commanders amid aggressive expansion of its fleet. The carrier has more than 210 planes in its fleet

Facebook eyeing investments in content startups in India

• Facebook is in early-stage talks with several content startups, including PoPXo for potential investments
• Any startup funding would also be a departure from Facebook’s usual strategy of buying companies outright

Ford names Amazon veteran Tim Stone as CFO

• Tim Stone, 52, replaces Bob Shanks, who will retire at the end of 2019 after serving the company for 42 years
• Tim Stone will take over as CFO on 1 June

BJP retains most of its sitting MP's from Karnataka for Lok Sabha elections

• The BJP announced a total of 184 names in its first list including Prime Minister Narendra Modi and Amit Shah
• BJP's list coming out three days after nomination process began in Karnataka

IL&FS Transportation Networks defaults on NCD payments due to insufficient funds

• IL&FS Transportation Networks said principal amount of the defaulted debentures is ₹20.80 crore and interest is ₹11.62 lakh
• Interest due for the period between 1 March to 17 March, 2019 and was not paid

Tata to offer partial EU packaging sale for Thyssenkrupp deal approval: Sources

• The two steelmakers on Wednesday agreed an eight-day extension to a deadline for submitting remedies to the European Commission
• The people said no final decisions have been made and remedy proposals could still change or be amended before the new 1 April deadline

Opinion | How the govt may move on Nirav Modi extradition

Nirav Modi extradition case will follow a similar pattern through the UK courts as that of Vijay Mallya's

Maruti Suzuki Vitara Brezza to be made at a Toyota India plant from 2022

• Toyota and Suzuki will also jointly develop a Toyota minivan that will be supplied to Suzuki in India
• Toyota and Suzuki seek to popularize hybrid-electric vehicles in India by sourcing of systems, engines and batteries locally

Jet pilots look to board SpiceJet as IndiGo captains seek to abort their entry

• According to IndiGo, all job offers are in line with its current terms and conditions
• Jet pilots along with engineers and senior management have not been paid for more than three months

Jet Airways' pilots write to PM on non-payment of salaries

• While the airline is going through a tough financial phase, all employees except for pilots and engineers are getting paid on time: National Aviators Guild
• Two days ago, the Jet Airways' pilots had threatened to stop flying from 1 April if their pending salaries are not cleared by 31 March