The great Indian grocery gig in the sky

As startups and global giants gear up to change how Indians buy grocery, the kirana store is finally in the picture

How airlines are cleaning planes amid the threat of coronavirus

• Many airlines have stepped up normal cleaning procedures to limit the risk of contamination
• They have stepped up aircraft-cleaning efforts, trying to ensure that planes used in rescue missions are safe to be put back into commercial use

Govt plans to spend ₹1.5 lakh crore on rollout of prepaid electricity meters

• The prepaid meters are expected to help to improve billing and collection, which are the most basic problems facing the country’s ailing distribution companies, known as discoms

IndusInd Bank clarifies on speculation about new CEO

• IndusInd Bank said its nomination committee had finalised a potential candidate for the post of MD and CEO and forwarded an application to the RBI seeking approval for the appointment

Market LIVE: Sensex cracks 440 points, Nifty below 11,544 on coronavirus fears

• Australia's S&P was down 0.5%, after a loss of over 6% so far this week, while Japan's Nikkei fell 1.4%
• US crude at fresh one-year low of $48.17 per barrel in Asian trade, while gold up 0.3% to $1,644.30 per ounce

No instruction to banks on withdrawing ₹2000 notes, says Nirmala Sitharaman

• As far as I know, no such instruction has been given to the banks, Nirmala Sitharaman said
• The minister's comments come after reports of ATM recalibration to phase out of ₹2,000 notes

Bandhan Bank may have got RBI relief, but North East worries investors

• Bad loans formed 1.93% of its loan book for Q3, up from 1.76% in Q2. Assam makes up 10% of the bank’s loan portfolio
• Concerns persist that the bank may see its asset quality deteriorate as collections become difficult amid protests

Auditors to now check if firms can repay debt

• Auditors will now have to weigh in on whistle-blower complaints as well as concerns raised by outgoing auditors
• The Companies (Auditor’s Report) Order, 2020, mandates enhanced disclosures by auditors and is aimed at detecting frauds in companies before it is too late

Microsoft joins Apple, HP in scrapping quarterly outlooks due to coronavirus

• Microsoft said it doesn’t expect to meet earlier guidance for fiscal third-quarter revenue in the Windows personal-computer software
• The world’s largest software maker joins iPhone maker Apple Inc. and PC company HP Inc. in cutting estimates

Government’s new notification will allow many EPFO members to get higher pension

• If a pensioner had opted for commutation in August 2008, he or she will get increased pension from 2023
• Those who had opted for commutation in January 2005 or before are eligible for increased monthly pension

Stocks to Watch: HUL, Adani Ports, Concor, IndiGo, RITES

• NCLT Chandigarh has approved HUL's merger with GlaxoSmithKline Consumer Healthcare
• Adani Ports has incorporated a wholly-owned subsidiary Adani Bangladesh Ports

Investors in a tizzy as coronavirus pandemic fear spreads globally

• Sensex, Nifty drop around 1%, mirroring declines in major Asian markets
• The Sensex has lost 1,281.16 points, or 3.11%, over the past four sessions on concerns about a potential coronavirus pandemic

Vodafone Idea looks for relief from telecom panel meet on Friday

• Telco seeks adjustment of ₹8,000 crore of GST refund towards AGR, payment of penalty, interests and interests on penalty in a staggered period
• For relief on dues, the company has also sought a moratorium of three years followed by payment tenure of 15 years at a simple interest of 6%, said a source

Gold prices rise today but still down over ₹1,000 per gram in three days

• Goldman Sachs has raised its price forecast for gold
• Silver rates also edged higher today

Apple to open first retail store in India next year, confirms Tim Cook

• Tim Cook said Apple would start selling its products online in India this year
• Apple will open its first branded store in India in 2021

Facebook bans ads with false claims about coronavirus

• The ban went into effect this week
• The COVID-19 virus has now spread to at least 39 countries

Donald Trump faces credibility test as he plays down coronavirus threat

• Donald Trump encouraged Americans to be prepared for the virus' potential spread
• During his 36-hour visit to India, Trump received briefings from staff and periodically checked the impact on Wall Street

'Just call me Harry', Prince Harry says as he starts last royal duties

• The Duke of Sussex, a grandson of Queen Elizabeth II, will stop using 'His Royal Highness' from the end of March
• Harry and Meghan will join the queen on March 9 for a Commonwealth Day service at Westminster Abbey, which is expected to be their last official appearance as working royals

Doval pressed into action as courts rap cops on Delhi violence

• Delhi HC asked cops to take a ‘conscious decision’ on filing FIRs against 3 BJP leaders for inciting violence
• Centre scrambled national security adviser to bring the situation under control in violence-affected neighbourhoods

Delhi sends third flight to evacuate Indians in coronavirus-hit Wuhan

• The Indian aircraft is also expected to bring back around 100 Indian nationals and some others from India’s neighbouring countries
• The IAF special flight also carried around 15 tonnes of medical supplies, including masks, gloves and other emergency equipment

Don’t rush to buy 5G phone, there’s no network yet

• Smartphones such as the Samsung Galaxy S20 do have 5G variants globally, but their Indian variants do not support 5G connections right now
• Realme and iQoo are the first companies to launch 5G-ready smartphones in India

Warburg Pincus subsidiary to invest $150 mn in Apollo Tyres

• Emerald Sage Investment agreed to purchase compulsorily convertible preference shares in the firm
• Apollo Tyres issued 108 mn CCPS of face value of ₹100, which carry a dividend of 6.34% per annum

Pakistan confirms first two cases of coronavirus

• Pakistan said the two patients of coronavirus are now stable
• Both the affected patients had travelled to Iran recently

Ummeed Housing Finance raises funds led by Morgan Stanley PE

• The company aims to double its assets under management from ₹500 crore to ₹1,000 crore over the next 12-18 months
• Ummeed, the Gurugram-based affordable housing financier, started out in 2016

A revival in metal stocks hinges on a recovery in Chinese manufacturing

• On the steel front, domestic prices have been impacted by import parity
• The virus epidemic has also sent metal prices on the London Metal Exchange (LME) into a tailspin

Opinion | A new normal has now been set for India-US relations

That Trump travelled to India without any substantive deliverable is the real story here

18 FIRs, 106 arrests in Delhi violence; death toll climbs to 27

• Families of those killed in Delhi violence to get ₹2 lakh, seriously injured ₹50,000 as compensation
• The situation in the violence-hit northeast Delhi was under control and the police was doing their job, said NSA

Indian Railways turns old train coaches into restaurant. See pics

• Indian Railways converted two overaged coaches into signature restaurants
• Indian Railways is likely to generate non-fare revenue of approximately ₹50 lakh in the next five years

Cipla gets first US FDA warning letter ever for Goa plant

• The facility was inspected during 16-27 September
• US FDA observed 12 violations that were part of Form 483

Now, bypass brokers and distributors to directly buy mutual funds from exchanges

• The move is likely to ease flows into direct plans of mutual funds
• Previously, investors had to go through an intermediary platform to invest in such plans

History shows gold’s rally may only just be getting started

• Prices have surged this year as haven-seeking investors pour in
• Markets have been shaken by worries that the coronavirus outbreak will cripple global growth

FD, bondholders spar over DHFL resolution

• Since depositors and bondholders form a sizeable chunk, they are represented in the CoC
• The RBI-appointed administrator has admitted claims of ₹86,374 crore from all classes of creditors

No uncertainty about bank merger; it is going as per the schedule: Sitharaman

Last year in August, the government announced the consolidation of 10 public sector banks into four mega state-owned lenders effective April 1

Banks to link floating rate loans to medium enterprises with external benchmarks

• All new floating rate loans to the Medium Enterprises extended by banks from 1 April, 2020 shall be linked to the external benchmarks: RBI tells banks
• The move is aimed at further strengthening monetary policy transmission

China creates billionaires faster than US, says 2020 Hurun Global Rich List

Demand for online services in China has surged, lining the pockets of billionaire founders

Stick to a budget to avoid month-end money blues

• Millennials often struggle to keep their spends under control and end up borrowing
• Investing before spending and sticking to a budget without giving in to temptations can help a lot

Mukesh Ambani, richest Indian, minted ₹7 cr every hour in 2019: Hurun List

• Mukesh Ambani was the richest Indian in 2019 with networth of $67 billion
• Uday Kotak, with a networth of around $15 billion, is the richest self-made banker in the whole world

IndiGo says have responded to all Sebi queries on related party transactions

• IndiGo has been facing a probe by the Sebi ever since a public spat came to light between two founders of the airline,
• The watchdog has been conducting a thorough probe into the IndiGo matter

Masks & kisses: Love in the time of coronavirus

Experts recommend avoiding physical greetings with people showing symptoms

Ten reasons why coronavirus is setting off some recession alarm bells

• As cases spread, only some of the indicators investors use to monitor recession signals are flashing red
• The coronavirus has sent three-month borrowing costs above 10-year rates while the two-year/10-year curve is less than 20 basis points from inversion

Land Rover launches new Defender, the James Bond of SUVs, at ₹69.99 lakh

• The car was recently seen performing extreme stunts in the latest James Bond movie
• The Defender is being brought to India through the CBU route and will be offered in five different variants

Pvt labels to help drive profitable growth for e-commerce marketplaces: Report

• Private labels are instrumental in launching goods that fill gaps in the platform’s product portfolio
• Online retailers selling limited categories were relatively early to launch online private labels.

At UNHRC, India says J&K ‘was, is and shall forever’ remain its integral part

India also slams Pakistan as the ‘epicentre of global terrorism’

Car sales in India to stabilise in 2020 on back of stimulus measures: Moody's

• The ratings agency expects sales to rebound only modestly in 2021 with growth of 1.5%
• Moody's also predicted auto sales decline in China

SC adjourns hearing on Shaheen Bagh till 23 March

• SC also pulled up Delhi police for not being able to handle violence in northeast Delhi
• The court said it will hear the case on Shaheen Bagh once things have settled

One year after Balakot strike: When 'Bandar' was code for success

• Five Spice 2000 bombs hit the targets while one was not successful
• A fleet of 16 aircraft of the IAF had crossed over to the Pakistani side and attacked a Jaish-e-Mohammad terrorist training camp in Balakot

If economic recovery happens, BSE Sensex may reach 43,560 by end of 2020: Poll

• The benchmark, which rallied over 14% in 2019, has plunged this week, echoing a global sell-off caused by the spread of coronavirus
• The latest Reuters survey forecast the index would gain over 4% to 42,000 by mid-2020 from Tuesday's close of 40,281.20, down from the 42,696 predicted three months ago

Indian Railways' Central Railway zone to operate extra trains for Holi

• Four weekly special trains each will be operated on Lokmanya Tilak Terminus-Patna, LTT- Varanasi, LTT-Mau and Pune-Danapur route
• These trains will run on different days between March 5 to 15 and their coach composition will also differ

India’s economy backslides after a brief improvement last month

Belying hopes of an early revival, India’s economic report card has deteriorated again, the latest update to the Mint Macro Tracker shows

SC seeks J&K reply on plea challenging Mehbooba Mufti’s detention

• Court asks Iltija Mufti to submit an affidavit on 18 March declaring that she has not filed a similar plea in any other court
• Mehbooba Mufti was booked under PSA on 5 February