Higher surcharge on gains from equity withdrawn for foreign, domestic investors

• FPIS withdrew over $3 billion from Indian stock markets in July and August
• No angel tax on startups registered with DPIIT

China hits back at US with tariffs on $75 billion of imports

• An extra 5% tariff will be put on American soybeans starting next month, and a 25% duty on US cars will resume 15 Dec
• China announced that it will impose additional tariffs on a total of $75 billion of US goods

SC grants interim protection to Chidambaram in ED case; no relief in CBI matter

• P Chidambaram will continue to be in custody as the Supreme Court did not intervene in the CBI case
• On Thursday, Chidambaram was sent for custodial interrogation of the CBI till 26 August

Maruti Suzuki voluntarily recalls over 40,000 units of WagonR

• Starting 24 August, 2019, owners of the suspected WagonR models will be contacted by Maruti Suzuki dealers for inspection and replacement of the faulty parts, free of cost
• 40,618 WagonR vehicles (1 litre) will be inspected for a possible issue of 'fuel hose fouling with metal clamp'

Oyo buys Las Vegas Hooters Hotel in its first US purchase

• Founded in 2013, OYO Hotels & Homes is the world’s third-largest chain of hotels, homes, managed living and workspaces
• Valued at about $10 billion, Oyo now caters to an increasing number of corporate travellers

OMCs not to extend Air India's fuel restriction to other airports

• Air India owes around ₹5,000 crore to public sector OMCs, including IOCL, BPCL and HPCL
• OMCs had earlier suspended fuel supplies to the national carrier at six tier two airports — Cochin, Pune, Patna, Ranchi, Mohali, and Visakhapatnam — due to non payment of dues

Sitharaman reiterates efforts to deepen bond market

• The Credit Guarantee Enhancement Corp will now be available for infrastructure and housing projects to enable debt flow
• The government will work with the RBI and Sebi to enable stock exchanges to allow AA-rated bonds as collateral

Jet Airways founder Naresh Goyal not cooperating in probe: Centre to Delhi HC

• The hearing took place amidst the news that the Enforcement Directorate (ED) conducted searches at the premises of Naresh Goyal
• Denying him permission to fly aborad, the court had sought the Centre's reply to his plea

Government to frontload ₹70,000 crore capital infusion in PSU banks

• Banks to link their lending rates with the central bank’s repo rate, leading to lower EMIs for housing loans, vehicles and retail loans
• PSBs to ensure mandated return of loan documents within 15 days of loan closure

Higher depreciation, govt purchases to boost vehicle sales

• Sales of automobiles have been on a decline for the past year, leading to thousands of job losses
• Consumption demand in the economy nosedived after the bankruptcy of IL&FS

Union Bank too links home, auto loans to repo rates

• State Bank and seven other state-run banks have announced that their new loans and deposits will be priced to the repo-rate
• Vehicle loans will be offered at 8.60% to borrowers with good credit score

Opinion | Sitharaman’s credit nudge

Nirmala Sitharaman's message is clear: Lenders need not hold back on advancing loans to deserving borrowers

Ramdev's aide Balkrishna admitted to AIIMS

• Balkrishna, who heads Patanjali Yogpeeth, was first taken to a hospital in Haridwar
• Balkrishna was admitted in a state of 'altered consciousness'

Microsoft and ISB partner to advance AI skilling in India

• The two will collaborate in research which will use AI and Machine Learning to study issues relevant for business and public policy
• The partnership will also jointly introduce a new executive programme

Income tax changes to 'cheaper' home, auto loans explained in 10 points

• The government will withdraw enhanced surcharge on long-term/short-term capital gains arising from transfer of equity shares/units
• Banks have agreed to effect timely rate cuts to pass on the benefits of RBI's repo rate cuts to borrowers: Nirmala Sitharaman

Key takeaways from FM's Friday speech on growth measures for Indian economy

• The enhanced surcharge on long and short-term capital gains has been withdrawn
• Other measures such as bank capitalization and government’s purchase of new vehicles will aid economic growth

RFID tags mandatory for commercial vehicles after three weeks: SDMC

• Non-RFID vehicles will have to pay penalties in order to enter the city from Friday midnight
• The SDMC has also come up with a mobile application, "MCD TOLL", to make recharge of RFID tags hassle-free

Sitharaman pushes car sales by lifting ban on govt purchases

• The Centre will continue to encourage electric vehicles, but without banning conventional ICE-fitted automobiles
• It will also lift the ban on purchase of new vehicles by government departments

Government unveils measures to support auto sector, boost demand

• The revision of one-time registration fees has been deferred till June 2020
• BS-IV vehicles purchased up to March 2020 will remain operational for the entire period of registration, Finance Minister Nirmala Sitharaman said

Why the Future Retail-Amazon deal brought little joy for investors

• After Future Retail announcing Amazon will buy 49% in Future Coupons, the Future Retail stock declined by 4.6% on NSE
• Notwithstanding the benefits from the Amazon deal, the consumption slowdown in the economy should keep valuations in check from a near-term perspective

ED searches Jet Airways founder Naresh Goyal's premises in Delhi, Mumbai

• Jet Airways shuttered operations on 17 April after running out of cash
• In March, Naresh Goyal stepped down as chairman of the airline

Govt to release ₹70,000 crore immediately to state-run banks

• Surcharge on domestic investors in equity markets also withdrawn
• Public sector banks to get ₹70,000 crore recapitalisation immediately

Beleaguered FSSAI looks at PPP to tackle food adulteration

• There is a shortage of manpower in government laboratories across India, which hampers food testing functions of the laboratories, says FSSAI CEO
• To implement the PPP model in food safety sector, apex food regulator on Friday launched the National Food Laboratory in Ghaziabad

Air India owes ₹4,500-crore fuel dues; hasn't paid in 200 days: Oil companies

• IOC, BPCL, HPCL on Thursday afternoon stopped jet fuel or ATF supplies to Air India
• Total unpaid dues to three fuel retailers stand at close to ₹4,500 crore

Investors jittery about Yes Bank’s high holding of pledged shares

• Since news of suspect transactions at borrower CG Power emerged, Yes Bank’s shares have shed 26.6%
• Yes Bank held pledged shares of just one firm at the start of 2014. As of 19 Aug, it held such shares across 21 firms

No persecution, we respect wealth creators: FM

• Violation of the CSR law will not be treated as a criminal offence, and will be a civil liability instead
• The issue of income tax orders, summons will now go through a centralized system beginning 1 October

Amazon, Future group deal to intensify competition in India's retail Industry

• On Thursday, Kishore Biyani's group company Future Coupons said that Amazon is acquiring a 49% stake in Future Coupons
• This is the third investment by Amazon in an Indian brick and mortar retail business following Shoppers Stop and More

Gujarat ranks on top in water management: NITI Aayog report

• States, including Jharkhand, Uttar Pradesh, Odisha and Bihar, continued to be in the low-performing category
• The report comprises nine themes, including attention to groundwater and restoration of water bodies

Lenders of DHFL set to declare 65% of its debt as unsustainable

• DHFL shares fell nearly 13% on Thursday over speculation that lenders may take a majority stake in it
• Of the total unsustainable debt of DHFL, ₹760 crore will be converted into equity at ₹54 per share

Housing finance firms to get additional liquidity support of ₹20,000 crore

• The scheme is for purchase of pooled assets of NBFCs and HFCs up to ₹1 lakh crore
• The additional liquidity support to be provided by the National Housing Bank (NHB) will help the real estate sector

Animation comes to life in India with box office, streaming success

• Hollywood studios are going for strong localization and marketing drives, buoyed by Lion King’s success
• Netflix is gung-ho about the prospects of Indian animation original Mighty Little Bheem

Spicejet crew falls during push-back in Bengaluru airport

• The plane was then taken back to the bay and the flight departed for its destination at 8.45 am
• The airline has confirmed the incident

Aircel Maxis case: Court reserves order on Chidambaram’s anticipatory bail plea

• The order on former union minister P Chidambaram’s anticipatory bail plea has been reserved for 3 September
• The court said the INX Media case and Aircel Maxis were separate matters

Moody's cuts India GDP growth forecast to 6.2% for 2019

• Moody’s said the RBI has been most active in cutting rates in support of growth
• However, lingering financial sector issues may blunt the effectiveness of monetary stimulus, it added

There is no space for anything temporary in India anymore, says PM Modi

• 'It took us 70 years to remove temporary. I do not know if I should laugh or cry about it'
• 'There is no question of getting tired or stopping now... The government has taken many bold decisions in its first 75 days'

NDA house divided on electric mobility plan

• Transport minister Nitin Gadkari who is of the view that the Centre will not set a specific deadline for automakers to switch to EVs
• NITI Aayog on 21 June asked the automobile industry to submit a plan on banning ICE-fitted two-wheelers under 150 cc by 2025, and three wheelers by 2023

No 'hanky panky' in projects initiated with previous govt: Chandrababu Naidu

• 'Amaravati will not be flooded (as against environmental concerns), even the NGT (National Green Tribunal) has said it,' said
• TDP supremo added that he decided to go for self-financing for Amaravati so that the capital can eventually generate wealth on its own

Shapoorji Pallonji Group plans asset sales to cut ₹4,000 crore debt

• Shapoorji Pallonji Group, which has diversified into businesses ranging from water purifiers to ports, is seeking to bolster its balance sheet
• Shapoorji Pallonji also plans to seek an investor into its growing ports business

Less than 1% global investment in R&D for tackling malaria: WHO

• WHO has said eradicating malaria would save lives and boost economies
• WHO along with its partners are already establishing some new strategic approaches to tackling malaria

Enterprises are increasingly adopting AI, ML in cybersecurity: Experts

• The series of cyberattacks in the last few years have showed how hackers can disrupt companies and harass users by breaking into their systems
• Several surveys have showed that employees and sometimes CXOs are not fully aware of the repercussions of their actions

Huawei has no plan to launch Harmony OS phone this year

• Huawei's senior VP said has no plans to launch a Harmony OS-powered smartphone in the coming months
• Huawei recently launched its own operating system which is aimed to reduce the company's reliance on the Google-developed Android OS

Sunil Gavaskar meets Donald Trump while on charity fundraising trip to US

• Gavaskar met Trump at the Trump Bedminster Golf Course in New York
• Gavaskar is trying to create awareness for the Heart to Heart foundation

Google ditches dessert names for Android Q in favour of Android 10

• Google has also decided to update its logo and brand colour
• The next release of Android will simply use the version number and be called Android 10