Viral Acharya.  (PTI )
While Sebi already has a robust set of regulations regarding encumbrance disclosure, they proved not to be enough
While Sebi already has a robust set of regulations regarding encumbrance disclosure, they proved not to be enough

Sebi board to tighten rules on share pledging

  • The idea is to cover all innovative structures and methods used by promoters, says a source
  • As of today 38,531 million shares are pledged across 790 listed firms and about 46.03% of these are promoter pledges

In redefining philanthropy by putting his money where his heart is, Azim Premji has shown the way for billionaires not just in India but across the world. (India Today Group/Getty Images)
In redefining philanthropy by putting his money where his heart is, Azim Premji has shown the way for billionaires not just in India but across the world. (India Today Group/Getty Images)

Making of Azim Premji: The Philanthropist

The inside story of how Wipro’s founder meticulously put in place the plan to give away his fortune to charity

US Secretary of State Mike Pompeo. (AFP)
US Secretary of State Mike Pompeo. (AFP)

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

An empty front desk is seen inside the Jet Airways headquarters in Mumbai. (Reuters)
An empty front desk is seen inside the Jet Airways headquarters in Mumbai. (Reuters)

Jet Airways creditors asked to submit claims by 4 July

  • The airline owes over 8,500 crore to a consortium of 26 banks led by State Bank
  • The resolution professional for Jet Airways has invited claims from all creditors to the grounded airline

L&T, on 17 June, launched its 10-day long open offer to purchase 31% stake from public shareholders (including Nalanda) in Mindtree at a price of  ₹980 per share.
The government is particularly keen to find a way to get the excess reserves as it needs funds to stimulate a weakening economy hit by sagging consumption. REUTERS/Francis Mascarenhas
The government is particularly keen to find a way to get the excess reserves as it needs funds to stimulate a weakening economy hit by sagging consumption. REUTERS/Francis Mascarenhas

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

Huawei at present has most of its equipment installed in the network of Bharti Airtel and Vodafone Idea. (AP)
Huawei at present has most of its equipment installed in the network of Bharti Airtel and Vodafone Idea. (AP)

Huawei says ready to sign ‘no back door’ pact with India

  • Huawei India CEO Jay Chen says it also encourages other original equipment manufacturers to sign this kind of pact with the govt and telecom operators
  • Chen says Huawei wants a level playing field in India

Jio's total user base now stands at 314.8 million

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

Subscribe for free
Finance Minister Nirmala Sitharaman  (Photo: ANI)
IndiaMart IPO closes on June 26
Mark to Market
View All
TVS Motor chairman Venu Srinivasan. Photo: Mint
Plain Facts
U.S. President Donald Trump signs an executive order imposing sanctions on Iran's supreme leader,�Ayatollah Ali Khamenei, in the Oval Office of the White House in Washington, D.C. (Bloomberg )
U.S. President Donald Trump signs an executive order imposing sanctions on Iran's supreme leader,�Ayatollah Ali Khamenei, in the Oval Office of the White House in Washington, D.C. (Bloomberg )

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

Long Reads
A similar story is playing out at SRF’s chemicals division. (Bloomberg )
Shilpa Sharma, founder of three companies, says travel has helped her develop the ability to notice what most people miss.
 (Vipul Sharma/Mint )
Jealousy is an unintended compliment. iStockphoto
Jealousy is an unintended compliment. iStockphoto

Opinion: Envy? No, it’s just respect in disguise

Benign envy for someone with a better idea can be channelled as motivation to be your best self

(Photo: Mint)
RBI deputy governor Viral Acharya. Photo: Mint
Walmart Inc in May last year had announced that it is buying 77 per cent stake in Flipkart for about $16 billion (Mint)
Walmart Inc in May last year had announced that it is buying 77 per cent stake in Flipkart for about $16 billion (Mint)

IPO long-term strategy, currently focused on driving e-commerce growth: Flipkart

  • The statement comes amid reports that Flipkart is looking at tapping into the US equity market by 2022
  • An IPO has always been part of Flipkart's ambitions and long-term strategy but right now, we don't have a time frame on that, a Flipkart spokesperson said

Vitara Brezza was the sixth best selling model in May last year with 15,629 units.
An IndiGo Airlines Airbus A320 aircraft.  (Reuters )
(Photo: ANI)
(Photo: ANI)

Opinion | It’s time for Indian Railways to take the reform track

The railways need both administrative and engineering reforms for a $5 trillion Indian economy

India took 48% less oil from Tehran at about 275,000 bpd from Nov 2018-May 2019 (Photo: Reuters)
India took 48% less oil from Tehran at about 275,000 bpd from Nov 2018-May 2019 (Photo: Reuters)

Filling Iran oil gap in India: US supplies outshine Middle East crude

  • India bought about 184,000 barrels per day oil from US over Nov 2018 to May 2019, compared with about 40,000 bpd in the year-ago period
  • Donald Trump's administration renewed sanctions against Iran last year over its nuclear programme

The rupee open flat against the US greenback.
External Affairs Minister S. Jaishankar .  (ANI )
External Affairs Minister S. Jaishankar . (ANI )

MEA proposed manufacture of e-passports on priority: Jaishankar

  • Jaishankar said the partnership between MEA and Department of Posts is a wonderful example of the best practice in citizen-centric governance
  • He said optimal use of the technology should be made along with the tools provided by the government's initiatives under Digital India

The government’s track record in raising tax revenues does not inspire too much confidence in its ambitions. (Photo: iStock)
The government’s track record in raising tax revenues does not inspire too much confidence in its ambitions. (Photo: iStock)

Have NDA’s tax reforms been counterproductive?

With tax revenue collections falling short of budget estimates, there is a need for the govt to reconsider its ambitious targets and reform the tax system

Bitcoin's rally continues to gather pace. (Photo: Bloomberg)
Bitcoin's rally continues to gather pace. (Photo: Bloomberg)

Bitcoin prices cross $11,000 with another big surge

  • The largest cryptocurrency had a furious run higher in late 2017
  • Bitcoin surged 13% gain from late Friday that put it at the highest levels since March 2018

The new norms, which would be discussed by the Sebi board later this week, have been prepared after a public consultation process
The new norms, which would be discussed by the Sebi board later this week, have been prepared after a public consultation process

Sebi to allow IPOs by tech companies with superior voting right shares

  • The new norms are particularly aimed at helping new technology companies with asset light business model
  • It has been suggested that the DVRs should currently be restricted to only new technology firms that are yet to get listed

Evaluating selling entire 20% stake in Shriram Capital: Piramal Enterprises

  • The company had earlier this month sold its entire holding of 10% holding in Shriram Transport Finance Co Ltd for 2,300 crore
  • In April this year, Piramal Enterprises had announced its intention to exit from investments in Shriram and optimally redeploy capital for strategic growth in its own financial services business

Gwalior: Mirage-2000 aircraft during the Commemorating 20 years of the Kargil War,in Gwalior Air Base.  (PTI )
Gwalior: Mirage-2000 aircraft during the Commemorating 20 years of the Kargil War,in Gwalior Air Base. (PTI )

Laser-guided bomb system for Mirage-2000 was done for Kargil War: IAF Chief

  • To accelerate the modification of the aircraft, its integration with targeting pods and 1000-pound laser guided bombs were done in a record time
  • Dhanoa asserted said deploying Mirage-2000 jets and air support to ground forces turned the tide of the 1999 war in favour of India

(Photo: AFP)
A general view shows waste left behind following the large-scale weddings of the brothers Suryakant and Shashank Gupta of the South Africa-based Gupta family, following days of celebrations in the Auli hill station in Uttarakhand state (Photo: AFP)
A general view shows waste left behind following the large-scale weddings of the brothers Suryakant and Shashank Gupta of the South Africa-based Gupta family, following days of celebrations in the Auli hill station in Uttarakhand state (Photo: AFP)

Gupta weddings over, Auli stares at quintals of waste

  • Over 220 quintal waste had been collected from the wedding site between Sunday and Monday noon
  • The Municipality officials said they would be able to completely clean the site only by 30 June

A file photo of Flipkart co-founder Binny Bansal. (AFP)
A file photo of Flipkart co-founder Binny Bansal. (AFP)

Binny Bansal sells 531 crore Flipkart shares to Walmart

  • Binny Bansal's equity shares sold $76 million worth of his shares in Flipkart to Walmart's Luxembourg entity FIT Holdings SARL
  • Walmart increased its equity holding in Flipkart by buying 5,39,912 shares

Actor Shahid Kapoor at a press meet to promote his  film 'Kabir Singh in New Delhi on 19 June 2019. (Photo: IANS)
TCS Japan has achieved double-digit revenue growth in constant currency terms in each of the last two years. Photo: Mint
Abhiraj Bhal, co-founder of UrbanClap. (Pradeep Gaur/Mint)
Abhiraj Bhal, co-founder of UrbanClap. (Pradeep Gaur/Mint)

After Dubai, UrbanClap arrives in Abu Dhabi

  • With the launch in Abu Dhabi, UrbanClap now provides its services across 10 cities in India and 2 cities in the UAE
  • UrbanClap aims to grow its UAE business two times (month-on-month)

The report estimates that the logistics sector will witness a growth of 3%
AIADMK party workers perform 'yagna' rituals to pray for good rains, at a temple in Chennai on Saturday. (PTI)
AIADMK party workers perform 'yagna' rituals to pray for good rains, at a temple in Chennai on Saturday. (PTI)

From Yagna to drywashing cars, how Chennai is battling water crisis

  • Hyundai Motor has asked its customers to 'dry wash' cars
  • Cognizant has installed special nozzles in washbasin taps that lowers water consumption by 80%

A file photo of Rana Kapoor, the founder of Yes Bank Ltd. (Bloomberg)
Bengaluru-based Sridhar Segu gave two loans through Karvy Private Wealth, and is yet to recover one of them. (Photo:  Ramegowda Bopaiah/Mint)
Bengaluru-based Sridhar Segu gave two loans through Karvy Private Wealth, and is yet to recover one of them. (Photo: Ramegowda Bopaiah/Mint)

Who took my money: The builder or wealth adviser?

  • The Karvy incident highlights why you should be wary of privately-placed products
  • Investors should read the documents, fine print of financial products carefully, especially in privately-placed products where regulatory control is lower