Uday Kotak sells ₹6,914 crore stake, stalemate with RBI ends

Uday Kotak had once moved before the Bombay High Court in December 2018 against RBI’s diktat on promoter holding in banks.

Moody's downgrades SBI, HDFC Bank amid bleak outlook for Indian banks

• Thee ratings agency had on Monday downgraded the sovereign to just above junk status with a negative outlook
• In absence of external capital support from the government, Moody's expects the capitalization of the PSBs to deteriorate

With most planes still grounded, IndiGo shifts focus to costs

Overall, Indigo reported a loss of about ₹870 crore, although this is better than the Street’s forecast

PM Modi promises more structural reforms; vows to bring growth back

PM Modi said India is moving towards a growth-oriented future

Markets shrug off sovereign downgrade, close higher for fifth day in row

• Sensex ends at 33,825.53, up 522.01 points or 1.57%; 50-share index Nifty closes at 9,979.10, up 152.95 points or 1.56%
• Analysts say the downgrade is unlikely to impact the market materially since much of the recent highs are largely due to the abundant liquidity floating in the global financial system

Cyclone Nisarga Live Updates: PM assures all possible support to Maha and Guj

• Mumbai receives rainfall as cyclone Nisarga approaches western coast of India
• It is likely to turn into a 'severe cyclonic storm' by Tuesday night, the Cyclone Warning Division of the IMD said

Covid-19: Maharashtra govt issues show cause notices to four private hospitals

• The prominent hospitals were found to be not following rules with regard to Covid-19 treatment
• Govt warns of strict action against hospitals violating norms

Covid-19: DCGI approves emergency use of Gilead’s remdesivir

• In India, Gilead has given voluntary licence for production of remdesivir to Cipla, Jubilant Life Sciences, Hetero Drugs and Mylan under a royalty-free arrangement till an alternative drug is found

Kitchen turns sanctuary for CXOs during lockdown

The nearly 70-day lockdown have taken many into their kitchens; even busy startup founders have discovered the joy of cooking

Five states are leading Indian economy to recovery from lockdown

• Some of the most industrialized states such as Maharashtra and Gujarat were trailing because of tough measures still in place to contain the Covid-19 pandemic: Analyst

Apple's 6.1-inch iPhone 12 production to start in July: Report

• Apple is planning to start production of its upcoming 6.1-inch iPhone 12 models in July ahead of the rest of the series
• Apple is expected to launch four new iPhone 12 models this year

Covid impact: Ajay Piramal says 20-30% of migrant labour may not find work

• 'If we don’t address growth, there will be social issues — if people do not have food. I am worried what would happen if after living a certain standard, people fall below the poverty level'

ASUS launches new TUF gaming laptops, ROG desktops in India

• Both laptops can pump out reliably high frame rates in a wide range of popular games
• The new range of TUF laptops A15 and A17 feature the new 7 nanometer AMD Ryzen 4000 series mobile processors

3,200 points gain in 5 days: Sensex has best run in 7 months

• The rupee also strengthened to ₹75.36 versus the US dollar
• The gains come a day after Moody’s Investors Service downgraded India's sovereign rating by a notch

Coronavirus treatment: India approves Gilead's remdesivir for emergency use

• Remdesivir is the first drug to show improvement in COVID-19 patients in formal clinical trials
• India's COVID-19 count inched towards 2 lakh-mark

InterGlobe posts ₹871 crore loss in January-March on surge in cost

• Even before India announced the lockdown on 25 March, Indigo's international operations had taken a hit, especially routes to China, given the emergence of the pandemic which saw counties around the world close borders and ban travel

Suicide risk mounts amid job losses

Unemployment arising out of the covid-19 situation could cause about 9,570 more suicides per year, suggests a new study

After Airtel and Jio, Vodafone introduces ₹251 prepaid plan

• Reliance Jio and Bharti Airtel have also provided similar plans for customers in need of high amounts of data
• The ₹251 plan provides 50GB of data to the user without any calling or messaging benefits

Income tax department opens ITR filing window for those using ITR 1 form

• ITR 1 form is now available for e-filing of income tax returns
• The last date for ITR filing has been extended till November 30

73% of COVID-19 deaths in India are people with co-morbidities: Health Ministry

• At least 73% of coronavirus deaths are linked with co-morbidity issues, the health ministry said today
• Timely detection of cases and proper clinical management are the reasons behind such low mortality rates in India

Mint Covid Tracker: Deaths in Delhi jump nearly 90% in a week, cross 500

Among major states, the capital has the worst seven-day spike in both cases and deaths, while Maharashtra’s growth rate appears to slow down this week

US visa rules: Twitter, internet group slam social media checks

• The Donald Trump administration asked US visa applicants to detail their social media accounts in 2019
• Twitter and Reddit policies clearly protect speakers' anonymity

Delhi border shut for a week. New entry rules from Gurugram, Noida, Ghaziabad

• Essential services providers will be permitted to enter the capital by showing valid e-pass
• Delhi government asked its people to send suggestions by Friday on whether the border should be opened or not

How the cyclone Nisarga was named

• The word Nisarga means nature
• Tropical cyclones are named to help the scientific community and disaster managers to identify cyclones

Cyclone Nisarga intensified: Landfall likely tomorrow; flood alert in Mumbai

• Nisarga is currently located around 400 km from Mumbai as a cyclonic storm
• IMD has warned that Mumbai will be heavily affected by Cyclone Nisarga

Delhi corona app launched, provides info on vacant beds in govt, pvt hospitals

• If a hospital refuses to provide you bed even when our app shows beds are available in that hospital, then you can call on 1031
• All the information will be updated on this app twice a day, 10 am and 6 pm

SBI restructures operations to focus on small loans

• The new vertical has been set up mainly for addressing investment credit needs of agriculture and small borrowers
• SBI to offer micro credit through nearly 8,000 rural and semi urban branches pan-India

Coronavirus: How Bengaluru kept its case count under check

• The decision to seal Padarayanapura and Bapuji Nagar--with around 40,000 people--on 10 April may have set a template that saved the city from the rapid spread of the coronavirus

Covid-19 may affect future revenues, customer spending, says Wipro

• The IT major also said decreased capacity or willingness of customers to purchase its offerings along with delays in buying decisions may hit its ability to provide on-site services to clients

New Android feature: Google unveils Bedtime mode to help with sleep

• This new mode, when turned on will keep the Android phone dark and quiet while you sleep
• The new Bedtime mode is available on all devices with Digital Wellbeing and parental controls settings

Many states report coronavirus recovery rate of over 50%

• Total coronavirus cases in India has risen to 1,98,706 today
• There were 97,581 active coronavirus cases in India

Anand Mahindra says economic recovery will come from farmers

Anand Mahindra was commenting on M&M tractor sales report for the month of May which outperformed the analysts' expectations.

Odisha launches new portal for home delivery of liquor

• The portal also provides list of all the retailers within the district at one location and also the list of all the brands with MRPs available with the retailers
• Home delivery is made by retailers directly and also through agencies like food aggregators and standard technology platforms

Trump threatens military force against protesters nationwide

Trump said he was recommending that governors deploy the National Guard in sufficient numbers to 'dominate the streets'