RBI says copy of local data can be stored abroad for cross-border transactions
In contemporary India, which has seen a sharp rise in caste and religious violence, the curricula and pedagogic methods in Indian classrooms have a paramount role to play in undoing caste and religious prejudice. (Photo: Mint)
In contemporary India, which has seen a sharp rise in caste and religious violence, the curricula and pedagogic methods in Indian classrooms have a paramount role to play in undoing caste and religious prejudice. (Photo: Mint)

Missing secularism in new education policy

The omission of secular principles in the draft NEP 2019 impoverishes the learning experience of all Indians

External Affairs Minister S Jaishankar looks on as US Secretary of State Mike Pompeo speaks during their joint press conference. (PTI Photo/Manvender Vashist)
External Affairs Minister S Jaishankar looks on as US Secretary of State Mike Pompeo speaks during their joint press conference. (PTI Photo/Manvender Vashist)

Mike Pompeo vows cooperation with India but trade, defence issues unresolved

  • Any progress on trade would probably be announced at an expected meeting of Indian PM Modi and US President Trump at G20 summit in Japan
  • The trade disputes have led to higher tariffs by the two countries and created unease over the depth of their security alliance

HDFC Bank held 95.53% stake in HDB Financial Services as of 31 March (Photo: Mint)
HDFC Bank held 95.53% stake in HDB Financial Services as of 31 March (Photo: Mint)

HDFC Bank eyes over $1 billion IPO of NBFC arm HDB Financial Services

  • HDB offers various loan products such as personal loans, personal and commercial vehicle loan, gold loan, loan against property
  • Bloomberg reported that HDFC Bank had appointed investment banks Bank of America Merrill Lynch and Morgan Stanley to manage the NBFC arm's initial share sale

As a consequence, Elara Capital expects SpiceJet market share to rise by 6% (Photo: Reuters)
Indian equities continue to trade at premium to emerging market peers. (Photo: Reuters)
Shareholders can sell their shares to L&T for  ₹980 a share under the current open offer (Mint file)
Shareholders can sell their shares to L&T for 980 a share under the current open offer (Mint file)

L&T gets controlling stake in Mindtree, first hostile takeover in Indian IT

  • L&T first bought 20.32% stake in Mindtree held by Café Coffee Day founder VG Siddhartha and two of his firms in March, and 8.58% from other shareholders over the next two months
  • Under the current open offer, set to end on 28 June, 73.9% of public shareholders sold their shares to L&T

CBDT is of the view that sharing of information with PSBs is in public interest and hence, can be furnished.
Commerce and Industry Minister Piyush Goyal

Day’s most important news delivered to your inbox with our newsletters!

Subscribe for free
A file photo of finance minister Nirmala Sitharaman. (Mint)
 (Photo: iStock)
Reliance Infrastructure is fully geared to deliver the project in 60 months from the appointed date of 24 June 2019. (Photo: Abhijit Bhatlekar/Mint)
Mark to Market
View All

Watch: Budget recommendations by industry bodies to Nirmala Sitharaman

India’s first full-time woman Finance Minister Nirmala Sitharaman is all set to table her maiden budget on July 5. This is also Modi government 2.0’s first budget and expectations are high in all quarters. The Finance Minister met leading industry chambers earlier this month to elicit their views on various issues, including steps to boost industrial productivity. This forms part of the pre-Budget consultation exercise. Watch the video to find out the budget recommendations by industry bodies to Nirmala Sitharaman.

Long Reads
Telecom Minister Ravi Shankar Prasad
External Affairs Minister S Jaishankar speaks as US Secretary of State Mike Pompeo looks on during their joint press conference following a meeting, in New Delhi (Photo: PTI)
External Affairs Minister S Jaishankar speaks as US Secretary of State Mike Pompeo looks on during their joint press conference following a meeting, in New Delhi (Photo: PTI)

Will do what is in our national interest: India to US on S-400 deal

  • External Affairs Minister S Jaishankar and his American counterpart Mike Pompeo held a high-level interaction on series of issues
  • Jaishankar and Pompeo also discussed the issue of energy security in the wake of the situation arising out of US sanctions on buying oil from Iran

Leonardo DiCaprio attends the LA Premiere of HBO's 'Ice On Fire' at LACMA in Los Angeles (AFP)
As coins remain in circulation for a longer period, coins of different designs and shapes circulate at the same time, the RBI said (Reuters)
As coins remain in circulation for a longer period, coins of different designs and shapes circulate at the same time, the RBI said (Reuters)

RBI says all coins must be accepted as legal tender

  • The RBI puts into circulation coins minted by the central government
  • The RBI also asked all banks not to turn away customers who come to exchange coins at their branches

 (iStock)
Slot is a date and time at which an airline's aircraft is permitted to depart or arrive at an airport. (Abhijit Bhatlekar/Mint)
Slot is a date and time at which an airline's aircraft is permitted to depart or arrive at an airport. (Abhijit Bhatlekar/Mint)

Jet Airways' flying rights with 5 countries temporarily allocated to Air India

  • Slot is a date and time at which an airline's aircraft is permitted to depart or arrive at an airport
  • Even after such flying rights are allocated to an airline, it must have slots at both the airports in order to start flight operations

To secure bail of its two directors, Unitech is in the process of monetising its land bank to raise funds and deposit the same with the registry.
To secure bail of its two directors, Unitech is in the process of monetising its land bank to raise funds and deposit the same with the registry.

JM Financial, Suraksha ARC acquire 2,000 crore Unitech loans

  • JM Financial and Suraksha ARC to take control of 23 stalled projects and infuse some funds to kick-start construction work
  • Unitech’s 23 projects will require an investment of 1,900 crore to complete the pending works

DHFL’s shares closed 5.77% up at  ₹79.75 apiece on the BSE.
DHFL’s shares closed 5.77% up at 79.75 apiece on the BSE.

DHFL to soon complete full stake sale in 2 subsidiaries

  • Sebi grants DHFL approval for proposed change in controlling interest of DPAMPL
  • Divestment of DHFL’s entire shareholding in DPAMPL and DPTPL to Prudential is expected to be completed shortly

Union Minister Piyush Goyal addresses at Lok Sabha.  (ANI )
So far this year, the rupee has risen 0.9% against the greenback (Photo: Bloomberg)
So far this year, the rupee has risen 0.9% against the greenback (Photo: Bloomberg)

Rupee hits 11-week high on hope of US-China trade deal

  • The rupee ended at 69.16 a dollar — a level last seen on 11 April
  • The US is willing to suspend the next round of tariffs on an additional $300 bn of Chinese imports while Beijing and Washington prepare to resume trade negotiations

Bitcoin jumped to its highest in eighteen months. (Reuters)
Bitcoin jumped to its highest in eighteen months. (Reuters)

Bitcoin jumps to 18-month highs on growing popularity

  • Bitcoin traded last at $12,485 after reaching a high of $12,935 earlier in the Asian session
  • So far this year, the cryptocurrency has nearly tripled in value after being in the doldrums last year

Over the next 4-5 years, the US and Australia are expected to commission 60 MTPA of LNG terminals.
Over the next 4-5 years, the US and Australia are expected to commission 60 MTPA of LNG terminals.

Falling LNG prices to revive prospects of stressed power units

  • Crisil expects spot LNG prices to trend lower in 2019, averaging $5-6 per mmbtu
  • Government plans to waive off customs duty of 2.57% as well as bring natural gas under the GST regime (lower rate at 5% as compared to 15-20% VAT at present)

U.S. Secretary of State Mike Pompeo delivers a speech at an event in New Delhi.  (Reuters )
U.S. Secretary of State Mike Pompeo delivers a speech at an event in New Delhi. (Reuters )

Mike Pompeo promises to ensure oil supplies to India after Iranian crude ban

  • India, the world’s third-biggest oil importer, bought about 184,000 barrels per day (bpd) of oil from the United States
  • The United States will ensure India receives adequate supplies of oil as New Delhi stops buying Iranian crude in line with US sanctions

For the bond market, what matters is the supply of sovereign bonds. (Photo: iStock)
The side will most likely sport orange colour in their upcoming match against England. (ANI)
The side will most likely sport orange colour in their upcoming match against England. (ANI)

Cricket World Cup: Indian team's new jersey revealed

  • Before the start of the World Cup, ICC introduced a new rule asking the teams to sport home and away jerseys in the tournament
  • India are so far unbeaten in the World Cup. The side have won four matches and their match against New Zealand was called off due to rain

Currently, PPF fetches an interest rate of 8%
Current rules stipulate that individual auditors can examine accounts of up to 20 companies, though there is no limit on number of audits for the company. (iStock)
Current rules stipulate that individual auditors can examine accounts of up to 20 companies, though there is no limit on number of audits for the company. (iStock)

India mulls ceiling for audit firms amid crack down on lapses

  • The corporate affairs ministry is in early stages of discussing changes on rules for audit firms
  • The government is planning to expand the list of services which can’t be offered by statutory auditors under the Companies Act

West Indies' Chris Gayle  (AP )
 (Photo: iStock)
 (iStock)
Plain Facts
The value of the attached properties, including those overseas, is stated to be at  ₹9,778 crore (Pradeep Gaur/Mint)
The value of the attached properties, including those overseas, is stated to be at 9,778 crore (Pradeep Gaur/Mint)

ED attaches assets worth over 9,000 crore in Sterling Biotech PMLA case

  • The value of the attached properties, including those overseas, is stated to be at 9,778 crore
  • It is alleged that the company took loans of over 5,000 crore from a consortium led by Andhra Bank, which had turned into non-performing assets

US Secretary of State Mike Pompeo (left) shakes hands with Prime Minister Narendra Modi during their meeting at the latter's residence, in New Delhi on Wednesday (AFP)
US Secretary of State Mike Pompeo (left) shakes hands with Prime Minister Narendra Modi during their meeting at the latter's residence, in New Delhi on Wednesday (AFP)

Pompeo meets PM Modi, discusses key strategic issues

  • US Secretary of State Mike Pompeo's talks will be the first high-level interaction between the two countries after the Modi government's return to power last month
  • His visit comes ahead of a meeting between US President Donald Trump and Modi on the sidelines of the G20 Summit in Osaka later this week

Niti Aayog CEO Amitabh Kant (Mint file)
Adani Ports and SEZ chairman Gautam Adani (Reuters file)
Adani Ports and SEZ chairman Gautam Adani (Reuters file)

Adani Ports to raise $750 million via offshore bonds

  • The company plans to use the proceeds to refinance its existing debt and also for other purposes
  • The funds raised through the bond issuance will be used for capital expenditure, including lending to its subsidiaries for capital expenditure purposes and repaying existing debt

Britannia managing director Varun Berry. (Mint)
The modus operandi is simple: Select your base model, choose the specifications, upgrades and accessories and get it delivered.
The modus operandi is simple: Select your base model, choose the specifications, upgrades and accessories and get it delivered.

Forget Nehru Place, get your laptop assembled online at Lenovo

  • Lenovo's "made to order" service for India can create a true factory-built custom PCs with options to choose from over 100,000 configurations
  • The customisation is currently available for Lenovo's ThinkPad line-up and would will be eventually rolled out for its other portfolios later this year

Increasing the number of bee colonies will not only increase the production of bee-related products but will boost overall agricultural and horticultural productivity. (AP)
OYO submitted before the court that it is a hospitality company and in the business of standardising unbranded budget hotels, bed and breakfast and guest houses.
OYO submitted before the court that it is a hospitality company and in the business of standardising unbranded budget hotels, bed and breakfast and guest houses.

Delhi high court restrains hoteliers associations from boycotting OYO

  • The court noted that act of calling for boycotting OYO prima facie would be illegal
  • OYO said it has more than 1.35 lakh bookings across India in the present period and this may effect the travellers

Price range for the offer, which opened for bidding on Monday, was  ₹970-973 per share.
Price range for the offer, which opened for bidding on Monday, was 970-973 per share.

IndiaMART IPO subscribed over 36 times on final day of bidding

  • The 475-crore IPO received bids for 9,73,85,775 shares against the total issue size of 26,92,824 shares
  • The initial public offering (IPO) is for 48,87,862 equity shares, including anchor portion of 21,95,038 equity shares