Das said the monetary policy committee would continue to focus on growth with inflation expected to stay within the medium term target. (Photo: Mint)
Das said the monetary policy committee would continue to focus on growth with inflation expected to stay within the medium term target. (Photo: Mint)

Current account under threat if oil surge continues, says Shaktikanta Das

  • Das says it was important to see whether alternative sources of oil supply come up and how soon the installations take to resume operation
  • A jump in oil prices is a negative for emerging markets such as India, which is the world's third-biggest importer of oil

The banks will also be closed on 28 September, the fourth Saturday in September, making it a four-day break for banking services (Photo: PTI)
The banks will also be closed on 28 September, the fourth Saturday in September, making it a four-day break for banking services (Photo: PTI)

Bank unions declare two-day strike in September. What to expect?

  • Bank unions have announced a 2-day strike, starting at midnight on 25 Sept and continuing till 27 Sept, to protest the merger of 10 major PSBs announced by FM Sitharaman last month.
  • The 2-day bank strike, followed by 2 consecutive weekly offs will primarily impact cheque clearances, cash deposits/withdrawals and any other services availed at bank branches and ATMs

Videos
View All
The drone attack Saturday on Saudi Arabia's Abqaiq plant and its Khurais oil field led to the interruption of an estimated 5.7 million barrels of the kingdom's crude oil production per day, equivalent to more than 5% of the world's daily supply. (AP)
The drone attack Saturday on Saudi Arabia's Abqaiq plant and its Khurais oil field led to the interruption of an estimated 5.7 million barrels of the kingdom's crude oil production per day, equivalent to more than 5% of the world's daily supply. (AP)

What Saudi Arabia's options are after unprecedented attack on its oil infra

  • While an open war between Saudi Arabia and Iran can never be ruled out, it’s highly unlikely
  • Negotiating a peace accord with the Shiite Houthi rebels remains the best long-term option for Prince Mohammed

Your morning ritual now travels with you!

Try Mint E-paper
Many manufactured items saw negative inflation or deflation including vegetable and animal oils. Photo: Abhijit Bhatlekar/Mint
Many manufactured items saw negative inflation or deflation including vegetable and animal oils. Photo: Abhijit Bhatlekar/Mint

Why WPI inflation remains low?

  • Food inflation accelerated to 7.67% in August from 6.15% a month ago
  • Fuel inflation also fell into negative territory

Follow up meetings with both Swiggy and Zomato on the eight core issues were largely positive and talks have progressed well so far, the NRAI said (Photo: S Sudarshan/ Mint)
Follow up meetings with both Swiggy and Zomato on the eight core issues were largely positive and talks have progressed well so far, the NRAI said (Photo: S Sudarshan/ Mint)

NRAI meets with food aggregators amid ongoing discord

  • Zomato Gold continued to remain an issue of contention among the association and the food aggregator
  • NRAI’s managing committee is slated to meet this week in Mumbai to discuss the next course of action

(Photo: iStock)
The teaser for the special event showed a OnePlus device being suckered into a giant star.  (YouTube/OnePlus)
The teaser for the special event showed a OnePlus device being suckered into a giant star. (YouTube/OnePlus)

OnePlus TV may launch on 26 Sept special event

  • OnePlus will hold a special event on 26 September where the OnePlus TV might be unveiled
  • The company may also launch the OnePlus 7T and 7T Pro, although some media reports suggest a later launch date of 5 October for these smartphones

Mark to Market
View All

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

Subscribe for free
National Conference leader Farooq Abdullah. File photo: Hindustan Times
National Conference leader Farooq Abdullah. File photo: Hindustan Times

Farooq Abdullah booked under Public Safety Act

  • Farooq Abdullah has been under house arrest since 5 August
  • Chief Justice of India Ranjan Gogoi said he will travel to Jammu and Kashmir, if required, to check allegations that accessing Jammu and Kashmir High Court has become difficult

Long Reads
Smoke seen following a fire at Aramco facility in the eastern city of Abqaiq, Saudi Arabia on Saturday. (Photo: Reuters)
Smoke seen following a fire at Aramco facility in the eastern city of Abqaiq, Saudi Arabia on Saturday. (Photo: Reuters)

Oil prices jump the highest ever after attack cuts Saudi Arabian supplies

  • Brent jumped more than 19% on ICE Futures Europe to $71.95 a barrel, its biggest gain in percentage terms since 1991
  • Gold, the yen and Treasuries also surged on concern over the geopolitical fallout from the attacks

Plain Facts
Revenue pressures, profiteering fears prompt state governments to question union govt's move to cut GST rates (Photo: PTI)
Revenue pressures, profiteering fears prompt state governments to question union govt's move to cut GST rates (Photo: PTI)

States wary of any move to reduce GST rates

  • Opposition from some states may make it tough for the Centre to respond to automakers’ pleas for tax cuts
  • Some states cited revenue shortfall for opposing a move to cut GST rates

Anand Mahindra, chairman Mahindra & Mahindra (M&M). (Mint)
Sales of pre-owned cars are estimated to increase to as many as 4.4 mn units this fiscal from 4 mn in the previous fiscal, according to Mahindra First Choice Wheels (Photo: HT)
Sales of pre-owned cars are estimated to increase to as many as 4.4 mn units this fiscal from 4 mn in the previous fiscal, according to Mahindra First Choice Wheels (Photo: HT)

Amid a sharp auto slowdown, small towns drive up sales of used cars

  • Sales of used cars are estimated to rise to as many as 4.4 million units this fiscal from 4 million in the previous fiscal
  • Car resellers expect the surge in sales of used cars to continue due to new regulations and changing consumer tastes.

There is speculation that US President Donald Trump could join Prime Minister Narendra Modi at the ‘Howdy Modi’ event to be organized in Houston, Texas on 22 September. Reuters
There is speculation that US President Donald Trump could join Prime Minister Narendra Modi at the ‘Howdy Modi’ event to be organized in Houston, Texas on 22 September. Reuters

Energy deals, address to UNGA on PM’s agenda during US visit

  • Several meetings are lined up on the sidelines of the UN General Assembly, before he addresses it on 27 Sep
  • PM Modi is scheduled to meet top representatives of the US energy sector in Houston

The iPhone 11 will be available on 27 September, with the cheapest model available around  ₹65,000
The iPhone 11 will be available on 27 September, with the cheapest model available around 65,000

The new iPhone is cheaper. Should you EMI it?

  • Easy-to-get EMI options may lure you but opt for them to buy the new iPhone only if you are sure of future revenue streams, given the slowdown
  • It is a good idea to understand the full cost of the loan and the phone before you buy the new iPhone

File photo of Ravi Shankar Prasad
Photo: Mint
Photo: Mint

Piramal Enterprises to raise Rs690 crore via NCDs

  • Board approves allotment of 6,900 secured, unrated, unlisted redeemable NCDs each having a face value of Rs10 lakh aggregating to Rs690 crore
  • Shares of Piramal Enterprises settles at Rs1,900.80 apiece on the BSE, down 0.10%

The Mi Band 4
A file photo of Piyush Goyal
While shares of ONGC may not have risen enough, shares of OMCs may not have fallen enough. (Photo: Reuters)
Over 1,300 employees of GMTC-I will transfer to TCS
Brent crude surged by 20% ($12) on Monday, while the West Texas Intermediate jumped 15% (over $8). (Reuters)
Brent crude surged by 20% ($12) on Monday, while the West Texas Intermediate jumped 15% (over $8). (Reuters)

Drone attack on Saudi oil facilities to hit India's fuel import bill: DBS

  • Saturday’s drone attack on Saudi oil plants leads to the biggest surge in crude oil prices since the Gulf War
  • A 10% rise in crude prices widens India's current account deficit by 0.4-0.5% of GDP, says DBS

New Delhi: Traffic policemen stop a motorist driving in the wrong lane as newly amended Motor Vehicles Act comes into force.  (PTI)
New Delhi: Traffic policemen stop a motorist driving in the wrong lane as newly amended Motor Vehicles Act comes into force. (PTI)

Motor Vehicle Act: Fines in different states on traffic rule violation

  • The new Motor Vehicles Act has enhanced the penalties for traffic violations and erring drivers
  • The Motor Vehicles (Amendment) Act, 2019 was passed by Parliament during the last session and it came into effect on 1September

(Source; Tracxn)
Lower oil prices had dramatically improved India’s terms of trade, thus boosting India’s GDP. (Photo: Bloomberg)
During the arguments, Chidambaram's lawyer said ED cannot place documents in the court randomly and 'behind the back' for seeking his custody (MINT_PRINT)
During the arguments, Chidambaram's lawyer said ED cannot place documents in the court randomly and 'behind the back' for seeking his custody (MINT_PRINT)

ED wants arrest only to humiliate me: Chidambaram to Supreme Court

  • 'You are trying to paint a person as a kingpin when these alleged offences did not exist at that time,' Chidambaram's lawyer said
  • Solicitor General Tushar Mehta, appearing for ED, said he would respond to Chidambaram's plea seeking production of transcripts of his questioning on Wednesday

Sharad Pawar said a decision will be taken soon on how many seats allies like Swabhimani Shetkari Sangathan, Bahujan Vikas Aghadi and Left Parties will contest (Photo: Mint)
Sharad Pawar said a decision will be taken soon on how many seats allies like Swabhimani Shetkari Sangathan, Bahujan Vikas Aghadi and Left Parties will contest (Photo: Mint)

Congress, NCP to contest equal number of seats in Maharashtra polls

  • NCP chief Sharad Pawar Twitted that both the parties will contest 125 seats each leaving 38 seats for friendly parties
  • Contesting separately, in 2014 assembly polls Congress had won 42 seats and NCP had won 41

The information about the steel imports provided by importers on the SIMS will be monitored by the Steel Ministry (Photo: Mint)
The information about the steel imports provided by importers on the SIMS will be monitored by the Steel Ministry (Photo: Mint)

Government launches steel import monitoring system

  • Minister of Commerce and Industry Piyush Goyal and his junior colleague Hardeep Singh Puri launched the system
  • Importers of specified steel products will register in advance on the web portal of SIMS providing the necessary information

Under the RBI’s LRS, resident Indians can remit up to $250,000 per year under various heads
Under the RBI’s LRS, resident Indians can remit up to $250,000 per year under various heads

Opinion | Wealth has wings

The steady flight of capital over the past few years appears to be a response to the current government’s crackdown on corruption and unaccounted for wealth

The report says out of 13.8 lakh housing units 7.4 lakh units are stressed and need aid (Photo: Mint)
The report says out of 13.8 lakh housing units 7.4 lakh units are stressed and need aid (Photo: Mint)

91,000 housing units qualify for last-mile funding: Report

  • The report says there are an estimated 13.8 lakh housing units in the mid-to affordable category that are approximately 60% complete and due for completion in the next two years
  • The report says as many as 4.4 lakh units of the total 13.8 lakh units are already on hold due to lack of funds and have been delayed for more than 5 years

The backtracking on the new norms for traffic violations by various states is inexplicable given that these are designed to contain the rising incidence of road fatalities. (HT)
Flash floods and mudslides caused by days of torrential rains in the southern Indian states of Kerala and Karnataka have forced hundreds of thousands to move to relief camps. (Photo: AP)
Flash floods and mudslides caused by days of torrential rains in the southern Indian states of Kerala and Karnataka have forced hundreds of thousands to move to relief camps. (Photo: AP)

Kerala announces relief package

  • For damaged houses the government will give 4 lakh
  • This is one of the highest compensation packages announced among flood-hit states so far

Prime Minister Narendra Modi. (Photo: ANI)
Prime Minister Narendra Modi. (Photo: ANI)

Opinion | The other difficult things Modi should make us all do

Narendra Modi is a different sort of leader, one who’s so popular that only he can reform us

Maruti’s wholesales, or factory dispatches, in August fell 36% year-on-year to 94,728 units. This is the third time the company sold less than 100,000 vehicles in a month since July 2017.ramesh pathania/mint
Maruti’s wholesales, or factory dispatches, in August fell 36% year-on-year to 94,728 units. This is the third time the company sold less than 100,000 vehicles in a month since July 2017.ramesh pathania/mint

Maruti offers discounts to revive demand during festive season

  • India’s largest passenger vehicle maker is also urging commercial banks to lower rates on vehicle loans
  • Maruti is currently offering discounts ranging from 40,000 to 100,000 on its vehicles

The 7T might be backed by a slightly larger 3,800mAh battery against OnePlus 7's 3700mAh. (Image for representational purposes only)
The 7T might be backed by a slightly larger 3,800mAh battery against OnePlus 7's 3700mAh. (Image for representational purposes only)

OnePlus 7T, OnePlus 7T Pro may go on sale from Oct 15: Report

  • The OnePlus 7T is expected to be lit by a 6.55-inch Quad HD Super AMOLED display with 90Hz refresh rate and a smaller notch
  • The OnePlus 7T Pro is said to have a larger 6.65-inch QHD AMOLED display

Researchers say pollution particles can move from the mother’s lungs into the bloodstream and then to the placenta. (HT)
Researchers say pollution particles can move from the mother’s lungs into the bloodstream and then to the placenta. (HT)

Delhi to have odd-even scheme despite a dip in pollution

  • Delhi is the only city in India to have seen the odd-even scheme, which was started in Beijing in 2008
  • There has been a mixed reaction from the experts and residents of Delhi about the scheme

AC local trains now run on all seven days of the week in Mumbai.
Control of the BBMP is crucial for Karnataka chief minister B.S. Yediyurappa-led BJP government as the civic body also houses over 20% of the state’s population (Photo: Mint)
Control of the BBMP is crucial for Karnataka chief minister B.S. Yediyurappa-led BJP government as the civic body also houses over 20% of the state’s population (Photo: Mint)

BJP set to regain control of Bengaluru civic body

  • The disqualification of 5 Bengaluru MLAs and some independents going with the BJP may give it the edge in the upcoming mayoral polls, scheduled to take place on 27 Sept
  • The civic body houses over 20% of the state’s population and has a budget outlay of over 11,000 crore

Shot primarily in a vertical frame, the Zomato videos are ideal for app-based mobile viewing. (Mint)
Former Finance Minister P Chidambaram. (Photo: ANI)
The Moto E6S
Air India’s net debt swelled from about  ₹55,000 crore at the end of March 2018 to  ₹58,351.93 crore at the end of March 2019. (Photo: Mint)
If you set a budget on how much you spent on fuel every month, you may have to readjust that now. (Photo: Mint)
If you set a budget on how much you spent on fuel every month, you may have to readjust that now. (Photo: Mint)

Four ways in which the falling rupee could impact you

  • Rupee depreciation usually results in rising fuel prices because India depends on imports for crude oil
  • Inflation in India is currently on track and remains under the RBI’s medium-term target of 4%

Amazon's largest campus building in the world. Photo: Twitter/Amazon
Former TDP leader Kodela Siva Prasad Rao
DLF is already developing a number of projects in this part of the IT city. (Mint)
It is likely that the stressed assets to advances ratio for banks again worsened in the June quarter, after having improved in 2018-19.
It is likely that the stressed assets to advances ratio for banks again worsened in the June quarter, after having improved in 2018-19.

Is India prepared for a global shock?

Eleven years after the Lehman collapse, India has less ammunition to stimulate its economy but India’s balance-sheet still appears better than it was during the 2013 mini-crisis

ISPRL is responsible for maintaining the country’s strategic petroleum reserves. (Photo: Reuters)
ISPRL is responsible for maintaining the country’s strategic petroleum reserves. (Photo: Reuters)

In case of an emergency, how long will India's oil reserve last?

  • Currently, India has the capacity to meet about 12 days’ of the country’s crude oil requirement
  • According to the oil ministry, share of crude oil imports from the OPEC fell to 78% of total imports during the first four months of FY20