Bond rally in India at risk as RBI cash transfer delayed

• Expectations of a bonanza from RBI helped fueled a stellar rally in bonds that pushed down yields to their lowest since October 2017
• The yield on India’s benchmark 10-year debt climbed as much as seven basis points to 6.88% on Monday

Viral Acharya’s exit raises fresh questions over RBI’s independence

• Acharya, who joined RBI as a deputy governor in January 2017, was supposed to complete three years in his role
• While it is not yet known who will succeed Acharya, expectations are that it will be an external candidate

Mahindra Finance looks to raise $460 million from offshore markets

• NBFC is in process of raising $160 mn in overseas loans, could raise another $300 mn via offshore bonds
• Mahindra Finance is looking to tap the overseas markets to raise funds through a mix of loans, bonds

Bill Gates reveals the 'biggest mistake' he made at Microsoft

• Gates praised the current CEO Satya Nadella for helping reshape Microsoft
• Microsoft would be even more valuable, said Gates

L&T tightens its grip on Mindtree, buys out Nalanda Capital’s stake

• If L&T achieves all its share purchase targets, it will end up holding 66% in Mindtree, worth at least ₹10,800 crore
• Last week, L&T launched its open offer to buy a 31% stake from the public shareholders of Mindtree

Cabinet gives its nod to rules that aim to make roads safer

• The road transport and highways ministry is expected to present the bill in the ongoing Parliament session
• The bill also has a provision that allows the c entre to recall vehicles, in case a defect in the vehicle is causing harm to the environment or the people

Same sex couples in India lack basic financial rights

• No legal documentation to prove their union presents hurdles for LGBTQ+ partners
• Lack of insurance coverage from partners means that LGBTQ+ Indians need to have a higher rate of savings

Huawei offers India a ‘no back door’ pact

• Huawei, facing pressure from the US, hopes the ‘no back door’ pact will assuage India’s security concerns
• Since the last year, the US has been pressing its allies to ban Chinese firm Huawei from 5G roll-outs

Why the government is pushing EVs to fight climate change

• The accord aims to pursue efforts to limit the global temperature rise to 1.5ºC above pre-industrial levels
• Mint looks at the government’s effort towards rapid adoption of electric mobility as a way to cut down on greenhouse gas emissions

Reliable estimate of black money not possible, says panel

• The maximum amount of black money was generated in sectors like real estate and mining, according to studies
• NCAER estimates put wealth stashed outside India from 1980 to 2010 at $384-490 billion

Sebi board plans to tighten rules for pledged shares by promoters

• Regulator to widen the definition of encumbrance and heighten disclosures on encumbered shares
• Move comes in the wake of the recent spotlight on MFs’ exposure to loan against share scheme

Equity investors need to reset their return expectations from the markets

The decision to make is whether you want to take a call on the economy picking up a bit and buy into beaten down sectors, says Manish Gunwani, chief information officer, equity, Reliance Nippon Life Asset Management

Long-term investors look for stability, which India has: Asit Bhatia

• Bhatia, managing director, global corporate and investment banking, Bank of America Merrill Lynch, focuses on the outlook for foreign capital inflows
• We have seen RBI and govt have a commonality of views. Therefore, they will ensure confidence returns, says Asit Bhatia

Global income is taxable in India if you qualify as a resident of the country

• NRIs are not eligible to open a PPF account in the country. However, they are allowed to contribute towards it
• If an individual qualifies as 'resident and ordinarily resident' in India, their global income would be taxable in India

Rupee opens marginally higher against US dollar

• Asian markets were trading mixed ahead of speeches by several Federal Reserve officials
• The 10-year bond yield was at 6.836%, compared with Monday's close of 6.851%

Why are tourists staying away from Leh-Ladakh this season?

• Tourist footfall has fallen by over 50% this year
• Manali-Leh highway was reopened after much delay for vehicular traffic on June 10

Apple expands in Amazon's backyard, to hire 2,000

• Amazon employs more than 45,000 in Seattle and occupies about a fifth of the city’s prime office real estate
• Other firms have been muscling in to recruit from Seattle’s deep well of engineers

Mutual fund costs matter

Equity funds are allowed to charge up to 2.5% of the assets that a scheme manages; debt funds’ expenses are capped at 2.25%

Cabinet clears amendments to strengthen NIA, widen its ambit

• Once both Houses of Parliament approve amendments, the agency will investigate terror cases abroad
• The proposal to amend both the NIA Act and the UAPA has been in the pipeline since 2017

Pompeo discusses Iran with Gulf allies amid escalating crisis

• The talks covered protection for ships in the Gulf, after attacks on tankers in recent weeks that US has blamed on Iran
• Pompeo and Prince Mohammed reiterate that the ‘two countries stand side by side in confronting the hostile Iranian activities and in combating terrorism’

RBI plans for transferring excess reserves opposed and delayed

• Sources say Finance Secretary Subhash Chandra Garg is in favour of higher transfer
• Deputy Governor Viral Acharya, whose resignation was only disclosed on Monday, had also defended the RBI's excess reserves

BJP, Congress spar over Kovind’s address in Parliament, governance record

• Senior leaders of both parties took political potshots during lengthy discussions in both the Houses of Parliament
• Congress’ Adhir Ranjan Choudhary took on the BJP government on issues of economy, unemployment among others

Congress disbands district panels in UP, to examine charges of indiscipline

• The party named leader of Cong’ s legislative party, Ajay Kumar Lallu, as in-charge for organizational changes in east UP
• The move comes on the back of Congress’ worst ever performance in the state, where it won just one Lok Sabha constituency out of 80 seats

Number of wilful defaulters in nationalised banks up 60% to 8,582 in 5 years

• Recovery of ₹7,654 crore has been done from wilful defaulters' accounts during the last five financial years, the FM said
• The minister was replying to a question whether the cases of wilful defaulters of banks have increased during the last five years

Returns on my investments

Here's a look at how four commonly used asset types—equity, cash, gold and fixed income—have done in diff¬erent periods

Donald Trump imposes new U.S. sanctions on Iran, including supreme leader

• Donald Trump also said the sanctions would have been imposed regardless of the incident over the drone
• The Trump administration wants to force Tehran to open talks on its nuclear and missile programmes and its activities in the region

As US-China row rages, Asean cautions against a zero-sum game

• Leaders agrees to lead the shaping of the economic and security architecture of the Indo-Pacific region
• The document is significant as it seems to seek a distance between China and other powers who have unveiled Indo-Pacific strategies, most notably the US

SC seeks centre, Bihar govt reply to PIL over deaths due to AES

• A probe has been ordered against Union health minister Harsh Vardhan and Bihar minister Mangal Pandey
• Inadequate steps to prevent the outbreak, coupled with negligence have resulted in several deaths, it alleged

Weakness in key biz segments casts a shadow of gloom on Bharat Forge’s earnings

• Medium, heavy commercial vehicle sales have been falling on a year-on-year basis for the last six months
• The overall cyclical weakness in these key segments has resulted in negative sentiment on the Street

Do you need a dengue-specific health cover?

• The rising number of dengue cases in India has prompted some insurance companies to offer dengue insurance policies. But is it value for money?
• It is wiser to invest in regular health cover with higher sum insured than to buy many disease-specific plans

Governments must regulate social networks: Facebook's Clegg

• Clegg told an audience in Berlin that countries like China would not wait for the west to set standards for the internet
• Clegg, the former leader of British Liberal Democrats party, said there was a 'pressing need' for new 'rules of the road' on issues including data privacy and election rules

India, US nearing industrial security pact for defence tech transfers

• A draft of the agreement called Industrial Security Annex will go up before the Union cabinet for approval in the next few weeks
• Lockheed Martin and Boeing are both in the race for a deal estimated at over $15 billion to supply the Indian Air Force with 114 fighter planes to replace its ageing fleet of Mig 21 jets

For this serial entrepreneur, travel sparks business ideas

Jaypore’s Shilpa Sharma says travel has steered her into interesting meetings and entrepreneurship opportunities

Changing to batteries will not reduce one iota of pollution: Venu Srinivasan

• This is not like Aadhaar, not a software and print cards, TVS Motor Co Chairman & Managing Director Venu Srinivasan said
• Bajaj Auto Managing Director Rajiv Bajaj added that 100% transition is completely uncalled for

Opinion | Give financial pride to LGBTQ+ community

Many partnered gay couples end up having problems with bequeathing their wealth

SRF: Robust growth in specialty chemicals biz yields good crop for now

• The backward integration, wide product portfolio in fluorochemicals are giving SRF a competitive advantage
• Revenues and net profit surged 35% and 39%, respectively, in FY19

How upskilling can make the return to work easier

Updating your knowledge and skills to what an employer needs now and in the near future is the only way to overcome the perceived shortcoming of a break in career

63 Moons files complaint against DPIIT secretary

• Company claims Ramesh Abhishek ‘misled’ government on its merger with NSEL
• Former regulator FMC had written to govt recommending 63 Moons’ merger with NSEL

Bhupathi’s beauty brand Scentials raises funding from Unilever Ventures

• The startup plans to use the funds to ramp up its distribution and marketing platform, Bhupathi said
• The company is centered on designing, developing, manufacturing and distributing products through multiple brands

CIL’s relaxed production target still looks stiff

• It took the company three years to increase production from around 500 mt in FY16 to 606 mt in FY19
• To meet its FY25 target, annual incremental production would need to be almost twice that rate at 66 mt a year