Annual retail inflation in September was much-higher compared with a revised 3.28% in the previous month (Photo: Reuters)
IRCTC officials at the ringing of the opening bell to mark listing ceremony of IRCTC at BSE (Photo: @IRCTC official on Twitter)
Abhijit Banerjee (left) and Esther Duflo.  (Photo: The Boston Globe/Getty Images)
Abhijit Banerjee@Mint

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Finance minister Nirmala Sitharaman. Photo: Aniruddha Chowdhury/Mint (MINT_PRINT)
ED on Saturday attached assets worth  ₹4,025 crore of BPSL in connection with an alleged bank loan fraud.
PMC bank depositors in a peaceful protest outside Esplanade Court in Mumbai on Monday (Photo: ANI)
PMC bank depositors in a peaceful protest outside Esplanade Court in Mumbai on Monday (Photo: ANI)

RBI hikes PMC Bank withdrawal limit to 40,000

  • This means about 77% of the depositors of PMC Bank will be able to withdraw their entire account balance
  • Meanwhile, assets worth 3,830 crore have been seized in the PMC bank money laundering case

IRCTC shares opened at  ₹644 and hit a high of  ₹743 on the BSE on Monday (Mint file)
IRCTC shares opened at 644 and hit a high of 743 on the BSE on Monday (Mint file)

Opinion | The lure of PSU shares

  • The IRCTC had set an issue price of 320 in its nearly 645-crore IPO of equity, but its share listed at double the price

The stock trades at an expensive 68 times estimated earnings for financial year 2021. (Photo: Aniruddha Chowdhury/Mint)

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Telecom minister Ravi Shankar Prasad (left) with Aditya Birla Group chairman Kumar Mangalam Birla during the inauguration of India Mobile Congress, in New Delhi on Monday (PTI)
Telecom minister Ravi Shankar Prasad (left) with Aditya Birla Group chairman Kumar Mangalam Birla during the inauguration of India Mobile Congress, in New Delhi on Monday (PTI)

Need enabling regulatory environment in telecom sector: Kumar Mangalam Birla

  • 'We seek an enabling regulatory environment so that we can make the necessary investment in this sector'
  • 'We look forward to working with the government to take the leap for the next wave of growth'

French oil company Total buys stake at Adani Gas. Photo: Reuters (REUTERS)
French oil company Total buys stake at Adani Gas. Photo: Reuters (REUTERS)

Total buys 37.4% stake in Adani Gas for 5,662 crore

  • Adani family and TOTAL SA shareholders will ultimately hold 37.4% each and public shareholders the remaining 25.2%
  • As part of the existing Joint Venture, Adani and Total in the coming years will also target to build a fuel retail network of 1,500 retail stations

Graphic: Naveen Kumar Saini/Mint
PMC Bank has presence in seven states. (Aniruddha Chowdhury/Mint)
Mark to Market
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The performance highlights how 5G can transform interaction with the arts and opens new opportunities for industries. (Photo: Pradeep Gaur/Mint)
The new models are off to a 'very strong start': Tim Cook (REUTERS)
The new models are off to a 'very strong start': Tim Cook (REUTERS)

Apple iPhones are in demand again, here's why

  • Falling prices and the inevitable aging of older models are seeing a rise in demand for the new iPhones
  • The average iPhone user upgrades every four years, analysts estimate, so handsets purchased in 2015 are likely to be replaced

The move implies that the government does not want lenders to take an unrelenting position on debt recovery by invoking the IBC
Plain Facts
One big difference in national and international migration relates to the pull of the immediate neighbourhood. (Photo: Mint)

The NRI and the Bihari in Delhi

4 min read . 01:19 PM IST
While Valentino Rossi has won on 23 circuits in 19 seasons, Marquez has already won on 20 circuits in just 7 seasons (Photo: Reuters)

The Midas touch of Marc Marquez

4 min read . 10 Oct 2019
In fiscal year 2018, new jobs for both blue- and white-collar workers rose to their highest levels in half a decade (Photo: Bloomberg)

Factory jobs have seen a revival

4 min read . 10 Oct 2019
IRCTC shares more than doubled on market debut today
Each debt fund category needs a separate assessment, to come up with norms that balance both safety and return potential. (Mint)
Each debt fund category needs a separate assessment, to come up with norms that balance both safety and return potential. (Mint)

One-size-fits-all approach towards debt funds can limit long-term returns

  • With all categories of funds being given uniform credit and listing requirements, there cannot be much distinction in their universe of opportunities
  • An investor comes to MFs only because she cannot directly participate in many accrual opportunities in the bond market

Swedish climate activist Greta Thunberg. (AP)
Swedish climate activist Greta Thunberg. (AP)

Opinion | Greta-fication is not going to help us fight climate change

To stop global warming, we need reason and rationality, not panic, pedophrasty and poor science

IRCTC is the fourth railway company to be listed on the bourses
CarDekho co-founders Anurag Jain (left) and Amit Jain. The online car marketplace has raised about $185 million so far.
CarDekho co-founders Anurag Jain (left) and Amit Jain. The online car marketplace has raised about $185 million so far.

China’s Autohome looks to back CarDekho at $700 mn valuation

  • Existing investor Sequoia Capital may join the latest funding round amid growing demand for used cars
  • CarDekho has seen strategic investor interest despite a slowdown in automobile sales

Income tax department has selected over 58,000 cases for scrutiny
Rupee opened at 72.01 a dollar. (Rupee opened at 72.01 a dollar.)
Rupee opened at 72.01 a dollar. (Rupee opened at 72.01 a dollar.)

There is reason now for banks to cut interest rates

One reason that banks haven’t been able to cut interest rates in line with repo rate cuts is the high credit-deposit ratio (CDR). Interestingly, this ratio as of September-end has fallen to its lowest level in 2019. Mint probes if this will prompt banks to cut their interest rates.

Walmart operates two stores in Agra and one each in Meerut and Lucknow. (Reuters)
Walmart operates two stores in Agra and one each in Meerut and Lucknow. (Reuters)

Walmart to open 6 new stores in Uttar Pradesh

  • The places where the brick-and-mortar stores are proposed to be set up include Varanasi, Moradabad, Gorakhpur, Allahabad, Kanpur and Aligarh
  • The new stores will be in addition to the four existing stores the company operates in the state

Analysts expect Wipro’s EBIT margin to decline due to wage hikes (Mint file)
Analysts expect Wipro’s EBIT margin to decline due to wage hikes (Mint file)

Five things to watch out for in Wipro Q2 earnings

  • Analysts expect Wipro to guide for 0-2% revenue growth for the December 2019 quarter on the back of cautious spending of European banking and capital market clients
  • Weak growth likely in the financial services vertical but steady growth in other sectors

Photo: Mint
JSW Ventures had raised a  ₹100 crore first fund in 2016. (Photo: Reuters)
Rising instances of builders facing insolvency have severely impacted the market sentiment in the NCR: Report
Rising instances of builders facing insolvency have severely impacted the market sentiment in the NCR: Report

Nearly 60,000 unsold flats in NCR in affordable category: Report

  • At the current sales velocity, developers would take about three-and-a-half-years to sell off the existing stock in Noida-Greater Noida and 28 months in Gurugram: Report

Abhijit Banerjee is currently the Ford Foundation International Professor of Economics at MIT
Abhijit Banerjee is currently the Ford Foundation International Professor of Economics at MIT

Indian-American Abhijit Banerjee, two others win 2019 Nobel Economics Prize

  • Abhijit Banerjee is currently the Ford Foundation International Professor of Economics at MIT
  • The trio was honoured 'for their experimental approach to alleviating global poverty', the Royal Swedish Academy of Sciences

Assuming that you have been living outside India and your residential status is that of an NRI as per the Income-tax Act, the interest earned from NRE deposits shall be exempt for you. (iStock)
Assuming that you have been living outside India and your residential status is that of an NRI as per the Income-tax Act, the interest earned from NRE deposits shall be exempt for you. (iStock)

NRIs returning to India for good should get their NRE accounts re-designated

  • Once these accounts have been re-designated, interest earned on the deposits shall be taxable in your hands
  • If no tax is paid by you or deducted from any of your incomes, no refund is due to you

You can invest your monthly savings in a combination of instruments.  (Mint)
You can invest your monthly savings in a combination of instruments. (Mint)

Increase savings when income rises

In case you don’t have the risk appetite to have an equity portfolio, you need to increase your savings rate as and when your income increases

Apple iPhone SE 2 will have an A13 chip, which is also being used in iPhone 11. (Reuters)
Inflows into SIPs have averaged about  ₹8,000 crore for the 12 months till September this year.
The Ministry of Railways had recently approved 10 trains under its ‘Sewa service’ initiative. (Mint)
Infosys CEO Salil Parekh (C), COO Pravin Rao (L) and CFO Nilanjan Roy (R) pose for a photograph during a press conference to announce the second quarter financial results of the company at its headquarters in Bengaluru (Photo: PTI)
Infosys CEO Salil Parekh (C), COO Pravin Rao (L) and CFO Nilanjan Roy (R) pose for a photograph during a press conference to announce the second quarter financial results of the company at its headquarters in Bengaluru (Photo: PTI)

Infosys fares better than TCS, but IT sector is unmistakably slowing down

  • Infosys’s forecast for the current year suggests a sharp drop in growth rates in the second half of the fiscal
  • Shares of Infosys have outperformed those of TCS by about 22% in the past three months

Earlier, ICICI Bank had launched FD Life, a fixed deposit scheme that offers a free term life insurance
Long Reads
More disclosures at the time of sale, and a review of incentives for intermediaries is the need of the hour (Photo: iStock)
More disclosures at the time of sale, and a review of incentives for intermediaries is the need of the hour (Photo: iStock)

The menace of mis-selling in insurance and how to curb it

  • The spat between ICICI Pru Life Insurance and its former employee reveals a larger industry problem
  • Front-end commission structure and high exit cost contribute to mis-selling in insurance

Gold price today: On MCX, gold was trading at  ₹37,795 per 10 gram
Hindustan Aeronautics Ltd (HAL) is bracing for an indefinite strike from today. (Reuters)
Hindustan Aeronautics Ltd (HAL) is bracing for an indefinite strike from today. (Reuters)

HAL employees on indefinite strike over wage revision

  • HAL has about 20,000 employees in 5 production complexes in Bengaluru, Hyderabad, Koraput, Lucknow and Nashik
  • The management also offered to revised rate of fitment benefit at 11%

The scheme is being offered by the Life Insurance Corporation. Photo: Mint
SBI new branch is located in Diskit, Nubra Valley (District Leh). (@TheOfficialSBI)
Last week, the J&K administration also lifted the ban on the inflow of tourists into Kashmir (AP file)
Last week, the J&K administration also lifted the ban on the inflow of tourists into Kashmir (AP file)

Post-paid mobile services to resume in Kashmir later today

  • The decision comes a week after the Jammu and Kashmir administration opened Kashmir to tourists
  • The administration is phasing out the opening of mobile networks to facilitate the entry of tourists into the valley

Although the landline network was restored in phases, restrictions remained on the usage of mobile devices in various parts of the Valley. (PTI)
Although the landline network was restored in phases, restrictions remained on the usage of mobile devices in various parts of the Valley. (PTI)

Jammu and Kashmir: Postpaid mobile services to be functional from today

  • All network and landline connections were suspended across Jammu and Kashmir on August 5
  • This was done in view of security concerns in the region following Centre's decision to abrogate Article 370

The pollution causing score of PM 2.5 was at 114 in the poor category while PM 10 was at 208 in the moderate category. (PTI)
The pollution causing score of PM 2.5 was at 114 in the poor category while PM 10 was at 208 in the moderate category. (PTI)

'Delhi air to be 'very poor' from Tuesday'

  • The forecast of the 'very poor' air quality is predicted mainly due to changing local weather conditions
  • The stubble burning activity in Haryana, Panjab, and nearby border regions are moderate but increasing

Merely buying land will not fulfil the conditions as mentioned in Section 54 of the Act (Photo: iStock)
Merely buying land will not fulfil the conditions as mentioned in Section 54 of the Act (Photo: iStock)

Construct or buy a residential house to get LTCG exemption under Section 54

  • You would need to construct a residential house on the land within 3 years, after the date of transfer of the erstwhile residential property, for claiming the tax exemption under Section 54
  • As the monthly rental is equal to 50,000, the TDS deduction provisions are not currently applicable to you

With the economy slowing down, several companies may come up with VRS for their employees. (Photo: iStock)
With the economy slowing down, several companies may come up with VRS for their employees. (Photo: iStock)

Should you take that voluntary retirement offer?

  • Several companies have come up with VRS options for their employees and with the economy slowing down, more may come up with such schemes
  • Remember that VRS is not a lay-off, and you can choose to take it or leave it and continue in the job