R.C. Bhargava, chairman, Maruti Suzuki India. (Bloomberg)
The logo of the Reserve Bank Of India (RBI) at the RBI headquarters in Mumbai.  (REUTERS)
The logo of the Reserve Bank Of India (RBI) at the RBI headquarters in Mumbai. (REUTERS)

RBI examining rate-setting mechanism of non-banks, mortgage lenders

  • In her maiden Budget speech on 5 July, finance minister Nirmala Sitharaman had proposed an amendment to Section 45-IA of the RBI Act 1934 in the Finance Bill
  • Some housing finance companies use prime lending rate as their benchmark for loans and offer loans at a discount to this rate

Pakistan should reflect upon its decision to deviate from well established international practice, as well as reconsider its old habit of misrepresenting the reasons for taking unilateral action, says MEA (Photo: Mint)
Pakistan should reflect upon its decision to deviate from well established international practice, as well as reconsider its old habit of misrepresenting the reasons for taking unilateral action, says MEA (Photo: Mint)

Pakistan refuses use of its airspace for PM Modi's flight to US

  • PM Narendra Modi is scheduled to leave for US early on Saturday
  • This comes on the back of reports that Pakistan had denied permission for an aircraft carrying Indian President Ram Nath Kovind to use its airspace for an official trip to Europe last week

FM Sitharaman was also heading the Group of Ministers (GoM) that weighed the ordinance to ban e-cigarettes. (Photo: Ramesh Pathania/Mint)
FM Sitharaman was also heading the Group of Ministers (GoM) that weighed the ordinance to ban e-cigarettes. (Photo: Ramesh Pathania/Mint)

Cabinet approves ban on e-cigarettes, shares of cigarette makers jump

  • The decision was taken due to an alarming rise in vaping among young population, said the finance minister
  • Shares of cigarette makers, already up in today’s session on expectations of such an announcement, gained further on the news

Your morning ritual now travels with you!

Try Mint E-paper
Jio's total subscriber base is now 33.97 crore
The potential glitch has never been encountered during flight operations around the world (Photo: Bloomberg)
The potential glitch has never been encountered during flight operations around the world (Photo: Bloomberg)

For A320neo, your baggage is a huge challenge

  • French aerospace major Airbus SE has identified a problem with the centre of gravity envelope of A320neo planes
  • A DGCA official said it is a potential problem with the airframe, not an engine issue

Mark to Market
View All
Apple logo. (Photo: REUTERS)
Apple logo. (Photo: REUTERS)

Apple embarks on a new green path with latest iPhones

  • Taptic Engine is the phonemaker’s technology that provides tactile sensations in the form of vibrations to users of devices such as Apple Watch, iPhones and iPads
  • Rare earth metals are used in rechargeable batteries for products such as computers, monitors, televisions, electric and hybrid cars

Union Finance Minister Nirmala Sitharaman (Photo: ANI)

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

Subscribe for free
Videos
View All
Bechal Kumar Singh, 23, delivers a cake to an office complex in Gurugram's sector 21 on a Sunday afternoon. Singh, who hails from Darbhanga, Bihar, joined online food delivery company Swiggy a year-and-a half. (Photo: Pradeep Gaur/Mint)
Bechal Kumar Singh, 23, delivers a cake to an office complex in Gurugram's sector 21 on a Sunday afternoon. Singh, who hails from Darbhanga, Bihar, joined online food delivery company Swiggy a year-and-a half. (Photo: Pradeep Gaur/Mint)

The loneliness of the delivery man

Ferrying a Swiggy or Zomato delivery may earn just 30-40 per order. Is it fair?

Plain Facts
A litre of petrol costs  ₹72.42 in Delhi,  ₹78.10 in Mumbai,  ₹75.26 in Chennai and  ₹75.14 in Kolkata. (Mint)
It is the third such extreme rainfall event this monsoon, after the deluge caused by heavy rains on 1 July (AP file)
It is the third such extreme rainfall event this monsoon, after the deluge caused by heavy rains on 1 July (AP file)

Mumbai gears up for another extreme rainfall event, IMD issues red warning

  • The IMD has predicted very heavy rainfall at isolated places in Maharashtra, especially over Vidarbha, ghat areas of Madhya Maharashtra and north Konkan, Goa, among others
  • A red warning has been issued for North Konkan and Madhya Maharashtra for Wednesday

Long Reads
The new external benchmark-linked loan pricing was introduced after the RBI realized that transmission of policy rates to customers under the MCLR framework had not been satisfactory.
The new external benchmark-linked loan pricing was introduced after the RBI realized that transmission of policy rates to customers under the MCLR framework had not been satisfactory.

RBI may not allow lenders to offer teaser home loans

  • The discussion around teaser loans started after RBI directed banks to link their floating rate retail loans to an external benchmark earlier this month
  • The central bank has not been in favour of these products ever since SBI first introduced them in 2009-10

FILE PHOTO: Smoke is seen following a fire at Aramco facility in the eastern city of Abqaiq, Saudi Arabia.  (Photo: Reuters)
FILE PHOTO: Smoke is seen following a fire at Aramco facility in the eastern city of Abqaiq, Saudi Arabia. (Photo: Reuters)

Opinion | India’s oil dependence exposed again by Aramco strike

India should be concerning itself with encouraging innovations in alternate fuels and promoting startups in the energy sector. For the sake of its future, India needs to rid itself of its addiction to oil

Most of the world's fastest-growing airports are located in emerging markets, a significant proportion of them being in the Asia-Pacific region. (Mint )
The railways are planning to replace one of the power cars with LSLRD. (@EasternRailway)
The Delhi-Ghaziabad-Meerut RRTS corridor will have a total of 24 stations, including two depot-cum-stations at Duhai and Modipuram.
The Delhi-Ghaziabad-Meerut RRTS corridor will have a total of 24 stations, including two depot-cum-stations at Duhai and Modipuram.

Soon you may get your Amazon, Flipkart orders through Rapid Rail Transit System

  • The National Capital Region Transport Corporation (NCRTC) is exploring options to facilitate freight movement in the region through the RRTS
  • The Delhi-Ghaziabad-Meerut RRTS corridor will have a total of 24 stations, including two depot-cum-stations at Duhai and Modipuram

Graphic by Satish Kumar/Mint
The new fund managers will be the custodians of the EPFO corpus from October this year.
The new fund managers will be the custodians of the EPFO corpus from October this year.

Govt proposes to corporatise EPFO, ESIC; appointment of CEOs for first time

  • Ministry of Labour & Employment has circulated a draft of the Code on Social Security, 2019 and sought stakeholder and public comments till 25 October
  • At present, EPFO and ESIC work more like autonomous bodies run by trustees and board

Mark Zuckerberg (Photo: Reuters)
Mark Zuckerberg (Photo: Reuters)

Facebook’s new oversight board can overrule Zuckerberg

  • The panel would have the final say on matters of what belongs on the social platform
  • Facebook will also create a separate 'independent trust' that will act as a conduit for funding and ensure the oversight panel is not subject to influence from company executives

Swachh Bharat Mission is one of the largest cleanliness drives in the world (Mint file)
Swachh Bharat Mission is one of the largest cleanliness drives in the world (Mint file)

Opinion | The Gates Foundation should not rely on government data

The philanthropic foundation should not ignore critics who have an alternative picture to present

Drone wreckage including one described as an Iranian Delta Wave UAV, foreground, from the attack on the Aramco’s oil refinery, on display during a news conference in Riyadh on Wednesday. (Bloomberg)
Drone wreckage including one described as an Iranian Delta Wave UAV, foreground, from the attack on the Aramco’s oil refinery, on display during a news conference in Riyadh on Wednesday. (Bloomberg)

Saudi Arabia says oil attacks ‘unquestionably sponsored by Iran’

  • Saudi says despite Iran’s effort to make it appear so, the attack did not originate from Yemen
  • Iran has denied responsibility

Banks usually offer pre-approved loans to its existing customers and that is why minimum or no documentation is required and the process is hassle-free. (Photo: iStock)
Banks usually offer pre-approved loans to its existing customers and that is why minimum or no documentation is required and the process is hassle-free. (Photo: iStock)

Pre-approved personal loan: All you need to know

  • Pre-approved loans are mostly unsecured, collateral-free short term loans
  • Pre-approved loans are actually an ‘invitation to apply’ offers and hence are valid only for a certain period of time

Imported open cell panels earlier attracted an import duty of 5% (File photo: Reuters)
Imported open cell panels earlier attracted an import duty of 5% (File photo: Reuters)

Govt scraps import duty on open cell LED TV panel

  • Panels make up over 60-70% of the cost of manufacturing LED TV sets
  • The demand for TV in India has seen a slump amid consumer slowdown, more competition and increased GST on large TV sets

The missile has a strike range of 70km. (PIB)
Congress party leader from Karnataka state D.K. Shivakumar waves as he leaves the Ram Manohar Lohia hospital in New Delhi (Photo: AP) (AP)
Union Home Minister Amit Shah (Photo: ANI)
More than 100,000 subscribers withdraw or settle their accounts every month (Mint file)
Federal Reserve Chair Jerome Powell  (Photo: Reuters)
Federal Reserve Chair Jerome Powell (Photo: Reuters)

Federal Reserve injects liquidity into markets as key rate busts through cap

  • The Fed dose of cash Wednesday follows a $53.2 billion liquidity injection Tuesday
  • Although the US money-market interest rate remained elevated for a third straight day, it came back down to 2.8% early Wednesday even before the Fed accepted billions of dollars worth of Treasuries and other securities

Sri Lankan President Maithripala Sirisena. (AP)
Sri Lankan President Maithripala Sirisena. (AP)

Sri Lanka presidential poll on 16 November

  • Nominations for presidential election will be accepted on 7 October
  • Former strongman Mahinda Rajapaksa's brother Gotabhaya will run as an opposition candidate

PMO has directed the DoDP to firm up expression of interest/preliminary information memorandum for offloading 26% in BEML.
PMO has directed the DoDP to firm up expression of interest/preliminary information memorandum for offloading 26% in BEML.

Strategic sale of BEML, NMDC unit accelerates

  • PMO directs concerned ministries to clear pending issues in a time-bound manner to carry out stake sale
  • PMO also asks steel ministry to expeditiously respond to CCEA note and allocation of dedicated mine for NMDC steel unit

The government will also likely invite preliminary bids for the carrier by 10 October.
The government will also likely invite preliminary bids for the carrier by 10 October.

Government open to sell part of Air India to foreign airline: Report

  • The government will also likely invite preliminary bids for the carrier by 10 October
  • The government has moved about 300 billion rupees ($4.21 billion) of Air India's debt to a separate holding company

Gadia Lohar, is a community of nomads including blacksmiths who have migrated to Delhi over five decades ago. A representational image. (File Photo: Mint)
Gadia Lohar, is a community of nomads including blacksmiths who have migrated to Delhi over five decades ago. A representational image. (File Photo: Mint)

Gadia Lohar community living without any amenities in national capital

  • The report says all Gadia Lohar settlements consist of highly inadequate structures, poor living conditions which are further exacerbated by frequent forced evictions by state agencies
  • The community says they cannot avail benefits of various govt schemes since approximately 99% of the community does not have caste certificates

Zomato on 7 September laid of 10% of its staff. (Photo: Mint)
Zomato on 7 September laid of 10% of its staff. (Photo: Mint)

Medikabazaar offers 200 jobs to laid-off Zomato staff

  • Zomato on September 7 said it has laid off 541 people across customer, merchant and delivery partner support teams
  • According to Medikabazaar's Executive Vice-President Akash Rajpal, the company wants to ramp up its team by an additional 500 staff in various positions

CEO of the Azerbaijan Tourism Board, Florian Sengstschmid (left)
CEO of the Azerbaijan Tourism Board, Florian Sengstschmid (left)

Bazaars, heritage, adventure and more: Reasons to visit Azerbaijan

The Azerbaijan Tourism Board (ATB), the national body that supports Azerbaijan’s growing tourism industry, is holding a three-city roadshow in India from September 9-13 and visiting Delhi, Bangalore and Mumbai. The event will bring together key travel industry leaders in the region to build valuable connections between the countries. In this interaction, CEO of the Azerbaijan Tourism Board, Florian Sengstschmid, tells us why Azerbaijan is the place to visit and the various spots to go there. With a direct flight from Delhi and a simplified electronic visa procedure for Indian passport holders, tourism from India to Azerbaijan increased by 80% in 2019. The new initiatives are expected to improve Azerbaijan’s ranking among countries with a high tourism contribution towards national GDP, according to the World Travel and Tourism Council 2018 Impact Report. It is forecast to be at 6% per annum over the course of the next 10 years ranking it amongst the world’s top 20 high potential countries. This follows the launch of ATB’s marketing campaign ‘Take another look’ which encourages travelers to discover Azerbaijan’s hidden gems and aims to double current in-bound tourism by 2023.

The business after the amalgamation will be more than Rs8 lakh crore. (Mint)
The business after the amalgamation will be more than Rs8 lakh crore. (Mint)

Indian Bank board gives in-principle nod to merge Allahabad Bank with itself

  • Indian Bank board also clears the proposed infusion of capital by the government up to Rs5,000 crore in the bank by way of preferential issue of shares
  • After the amalgamation, the combined entity will have over 6,100 branches across the country and overseas presence in three countries

Average daily volumes for rupee was $34.5 billion in India in April
The new platform will also allow the company to engage with start-ups and technology firms to connect with them (Photo: Ramesh Pathania/Mint)
The new platform will also allow the company to engage with start-ups and technology firms to connect with them (Photo: Ramesh Pathania/Mint)

Tata Motors launches TACNet 2.0 to tap start-ups, tech firms

  • TACNet will enable technology firms and start-ups in connecting with Tata Motors for such innovation and collaboration opportunities
  • TACNet 2.0 will help develop a centre of automobility innovation through partnerships for new technologies and business models, the company said in a release

Manish Rathi, Co-founder, and CEO, RailYatri.in
An index comprising of seven MNC pharma companies delivered returns of 9.3% since April this year. (Photo: Bloomberg)
A file photo of INS Vikrant at Cochin shipyard (AFP file)
A file photo of INS Vikrant at Cochin shipyard (AFP file)

INS Vikrant vandalised, looted at Cochin shipyard

  • A hard disk and a multi function control processor were stolen and damaged inside Indigenous Aircraft Carrier (IAC)-Vikrant
  • Theft and vandalism a result of an internal matter and a possible insider job: Home ministry

(Photo: Bloomberg)