Companies still see red on  red  tape

• While an average enterprise has to adhere to 25,537 central compliances, it has to abide by 69,233 compliances if it were to operate in all the states
• India climbed 14 rungs in the World Bank’s ease of doing business rankings last year to 63 among 190 countries

Auto supply chain hit as covid cases climb in hub Aurangabad

• Indian automakers have been mostly using just about 40% of their total capacity amid various issues
• Aurangabad has reported about 7,000 coronavirus cases and about 300 deaths

Facebook pays ₹43,574 crore subscription amount to Jio Platforms

The deal was approved by the Competition Commission of India on 24 June

Insured coronavirus patients get a raw deal

• Private hospitals claim their hands are tied
• Family members have had to frantically arrange large sums of cash at short notice

Franklin India chief admits reputation hit by closure of schemes

• The decision has clearly impacted our reputation, which we worked so hard to build painstakingly over the last 25 years
• The six schemes continue to receive maturities, pre-payments and coupon payments

Yes Bank says it will raise funds through a follow-on offering

Bank's Capital Raising Committee meet scheduled to be held on or after 10 July, 2020, to consider and approve price band for FPO, among other things.

New US visa rule puts students  in  a  corner

• The move mounts pressure on universities to open their campuses even as fears grow that the virus is increasingly affecting young adults
• US has told India it will try and mitigate the impact of the new rules

WHO acknowledges emerging evidence of airborne covid-19 transmission

The new coronavirus can spread through the air far beyond two metres, a group of 239 international scientists said on Monday

'Will keep best interests in mind': US to India on foreign students' visa move

• The online meeting took place between Foreign Secretary Harsh Vardhan Shringla and US Under Secretary of State for Political Affairs David Hale
• Detailed implementation guidelines on the visa rule changes are yet to be publicly notified

Serum Institute-produced Covid-19 vaccine at least six months away, says CEO

'We don’t want to rush anything. We want to ensure safety and efficacy,' says Adar Poonawalla

IT companies resort to layoffs as pressure mounts due to covid crisis

• Global IT companies have gradually reduced their headcount in last two years as they embark on automation and related technologies
• The covid crisis may have accelerated that process as newer challenges have emerged for these firms

Brazil's President Jair Bolsonaro tests positive for coronavirus

• More than 65,000 Brazilians have so far died from COVID-19 and more than 1,500,000 have been infected
• Brazil's president was in India during the country's Republic Day celebrations and he visited Akshardham temple in Delhi during his stay

WHO acknowledges 'evidence emerging' of airborne spread of Covid-19

• WHO has previously said COVID-19 respiratory disease spreads primarily through small droplets expelled from nose and mouth of an infected person that quickly sink to ground
• 239 scientists in 32 countries outlined evidence that they say shows floating virus particles can infect people who breathe them in

India Inc's earnings may see sharp spike in downgrades post Q1

The pandemic-induced lockdown has taken a serious toll on demand and hence has caused a concern in corporate balance sheet

Indian students in trouble as US to cancel visas for online courses

The move will put additional pressure on universities to open its premises amid growing concerns that the virus is increasingly affecting young adults

Sensex, Nifty gain for 5th day in a row. Where are markets headed from here?

• Bajaj Finance, the top gainer in Nifty, jumped 7.8%
• Sensex, Nifty have gained around 5% over the last five sessions

Coronavirus vaccine: Human trial process starts at Hyderabad's NIMS

• Hyderabad’s Nizam’s Institute of Medical Sciences was one of the trial sites that received the ICMR’s letter
• Last week, the drug regulator recently granted permission to initiate Phase I & II human clinical trials for COVID-19 Vaccine Covaxin

Sitharaman asks CPSEs to meet capex target of ₹1.65 lakh cr to fuel growth

• Finance Minister holds review meeting on capex of 23 CPSEs to boost expenditure in the economy
• Sitharaman said that better performance of CPSEs can help the economy in a big way to recover from the impact of Covid-19

Mint Lite | Covid vaccine trials, TikTok, fintech layoffs, and other news

A daily wrap of news and views, opinions and talking points to start your day

India's coronavirus cases per million lowest in the world, says health ministry

• India also has one of the lowest deaths per million population at 14.27, while the global average is 68.29
• The recovery rate has risen to 61.13%, and active cases now total 2,59,557

Former CEO of Bengaluru-based co-operative bank found dead; cops suspect suicide

• Police suspect that Vasudeva Maiya, who was found dead in his car on Monday night, may have committed suicide by consuming poison
• Guru Raghavendra Sahakara Bank has been under RBI lens since January 2020 owing to alleged misappropriation of deposits to the tune of ₹1,400 cr

Banks disburse 49% of loans approved under emergency credit guarantee scheme

• 16 private sector lenders have sanctioned ₹65,863.63 crore, out of which ₹35,757 crore has been disbursed
• In case of the 12 state-owned banks, ₹20,515 or 42% of credit sanctioned has been disbursed

India to continue with infrastructure upgrade along the border

Last month, the home ministry had reviewed progress of the construction of more than 30 roads along the LAC, underlining the government's resolve to upgrade roads in the region despite objections from China

Watch: IAF's Apache helicopter and MIG-29 conduct night operations

• The Apache is seen as the first attack helicopter in India’s defence arsenal
• The AH-64 Apache is the world's most advanced multi-role combat helicopter and is also used by the US Army