Govt employees can submit multiple bills to avail LTC cash voucher scheme

• Finance Ministry said employees can avail the scheme utilising the applicable LTC fare without leave encashment
• Till now, employees got LTC benefits only on travels made, or had to forgo the amount

Time to reset expectations for world economy with coronavirus untamed

The future for global growth relies on the answers to those questions as a new wave of the pandemic means health fears and government restrictions continue to inhibit daily life and commerce

LIC IPO may spill over to next fiscal

• The government plans to amend the Act under which the state-run LIC was set up to prepare for the sale
• A stake sale in LIC is crucial for meeting a record ₹2.1 lakh crore disinvestment target set for the current fiscal ending March 31, 2021

To find a covid vaccine, GlaxoSmithKline is bonding with its biggest competitors

The hunt for a solution to Covid-19 is producing an unlikely team of rivals in the cutthroat world of pharmaceuticals

India's festive season spawns fears of renewed coronavirus surge

• The festival season is traditionally laced with an unmatched fanfare and extravaganza, with socializing being the hallmark of the celebration
• So far, the colorful and elaborate rituals for Durga Puja and Dussehra have been scaled down

Borrowers to pay simple interest on education, housing, auto loan for six months

In view of the unprecedented and extreme COVID-19 situation, the government announced a major relief for individuals and MSME borrowers by waiver of the compound interest on specified loans for six months period.

Pakistan will continue to face the ire of FATF: Bambawale

• Pakistan's efforts to show that it is attempting to curb terrorism and the financing of terrorism are purely cosmetic measures which cut no ice with the international community

Rajnath performs 'Shastra Puja', says Army won't let anyone take an inch of land

The Defence Minister is on a two-day visit to West Bengal and Sikkim. He will visit forward areas and interact with troops.

Mann Ki Baat: Be vocal for local when you go shopping this Diwali, says PM

Earlier on October 10, Modi had invited suggestions for topics to discuss in the programme

What the Karnataka HC judgment on Franklin Templeton case means for MF investors

• After taking the decision to wind up, Franklin Templeton AMC in May 2020 had given investors a choice on the administering agency for the winding up process - Deloitte or the trustees of the mutual fund, assisted by Kotak Mahindra Bank

PPFAS Mutual Fund assures no dramatic change in portfolio of its multi cap fund

• Parag Parikh Long Term Equity Fund has given 24% returns in the last one year
• 3-year SIP in PPFAS's multi cap fund has given 18% annualised returns and a 5-year SIP has fetched 16%

Theatres brace for tough times even as audiences show first signs of return

• Production houses are demanding a greater share of revenues and a shorter window between a film's theatrical and digital release
• Theatres are truggling with content mismatch, a lack of revenues and covid restrictions

Recognised PFs can invest in 'A' or higher rated securities: CBDT

• The CBDT has now amended I-T rules, thereby diluting norms for investment purposes to bonds with minimum 'A' rating, as against the earlier requirement of 'AA' rating
• Earlier, recognised employees provident fund trusts were required to invest in securities having 'AA' and above rating

Actively scouting for a partner for passenger vehicle biz: Tata Motors

• Tata Motors is looking for collaboration even as the process to carve out passenger vehicle (PV) business as a separate standalone unit gathers steam
• Earlier this year, the auto major's board had approved to form a separate entity which would house the PV business, including the EV vertical,

Covid-19: India's recovery rate touches 90% as active cases continue to fall

• There are 6,68,154 active cases of coronavirus infection in the country which comprises 8.50% of the total caseload
• The total number of coronavirus cases mounted to 7,8,64,811 and the death toll to 1,18,534, with the novel coronavirus virus claiming 578 lives in a span of 24 hours in the country

Govt may revisit overseas sovereign borrowing idea in 2021 Budget

• India’s sovereign external debt to GDP is at less than 5%, among the lowest globally and thus, supporters of the plan argue, it would be easy for the government to service the borrowing

Credit card dues: What the waiver of interest-on-interest means for you

• For credit card dues, the outstanding in the account as at the end of 29 February 2020 will be the reference amount
• A weighted average lending rate will be used for calculating waiver of interest on interest

Soumitra Chatterjee's health condition deteriorates

• Encephalopathy is a general term describing a disease that affects the function or structure of the brain
• 'Despite the use of steroids and other prolonged efforts, he is not responding to treatment,' doctor said

Vedanta’s debt maturities are prompting credit rating warnings

• Investors’ focus has been riveted on how Vedanta Resources will deal with its debt after opposition from minority shareholders derailed a delisting of its Indian unit Vedanta Ltd
• Debt maturities for the Vedanta group including the parent entity over the next 12 months are around $2 bn

To retire rich, don’t leave too much to your kids

When you make your bequest is a crucial calculation. Asian societies have long experience in juggling timing and outcomes.

Deeply value friendship with India: Joe Biden

Joe Biden on Saturday said he and his running mate Kamala Harris deeply value America’s partnership with India.

Gold price premium in India jumps to nearly 3-month high ahead of Dussehra

• Dussehra will be celebrated today while Diwali and Dhanteras in November, when buying gold is considered auspicious

Gold bond holders eye windfall

• Experts believe the bull run in gold prices is set to continue

India's benevolence should not be considered weakness, says Mohan Bhagwat

• The RSS sarsanghchalak the defence forces, the government and people have remained unfazed and responded sharply to China’s efforts to invade the territory of India

IRDAI proposes changes in insurance advertisement regulations

• IRDAI (Insurance Advertisements and Disclosure) Regulations, 2000 were notified in 2000
• Two minor amendments were effected in 2010 and 2015, respectively

Lee Kun-hee: 'Hermit king' of the Samsung empire

• Samsung is by far the biggest of the chaebols, the family-controlled conglomerates that dominate South Korea's economy
• Early in Lee Kun-hee's chairmanship, Samsung was seen as a shoddy producer of cheap, low-quality products.

Mumbai City Centre mall fire: Blaze doused after 56 hours

• About 14 fire engines and 17 jumbo tankers were engaged in the fire-fighting operation
• Five fire brigade personnel, including a deputy fire officer, received injuries during the fire-fighting operation

Big week for Big Tech as earnings, hearings loom

• Earnings reports are due this week from Amazon, Apple, Facebook, Microsoft, Twitter and Google-parent Alphabet, whose combined value has grown to more than $7 trillion dollars
• Google and Facebook dominate the lucrative online ad market, while Amazon is an e-commerce king

Vedanta pays $476 million dividend before potential downgrade

• The payout will also come as a relief for Vedanta’s minority shareholders, after the company didn’t pass on a previous dividend in May by Hindustan Zinc to them
• Vedanta Resources, which owns 50% in the Indian base metals producer, has around $2.9 billion in debt maturities due between April 2020 and March 2022

As Pompeo campaigns against China, a growing welcome in India

US Secretary of State Mike Pompeo will visit the Maldives this week after top-level talks in India

Franklin Templeton MF seeks directions to return cash, may move to Supreme Court

Franklin Templeton Mutual Fund may appeal in the Supreme Court over the order by Karnataka high court on winding up of the six debt schemes.

Dubai plans $136 million in support for coronavirus-hit businesses

• The package, which will consist of rent breaks and the elimination of government fees and fines for some businesses
• The emirate is known as the business hub of the Middle East, and has been hit hard by covid-19 as it relies on trade and tourism

Investing in PPF at an early age is beneficial

• Once you compete the lock-in period of 15 years, PPF allows you to extend in blocks of five years
• You can avail the extension with or without further deposits into the PPF. Deposits qualify for tax benefits u/s 80C

Compound interest waiver scheme: Eligibility,amount and all other details

• As per the eligibility criteria mentioned in the guidelines, the accounts should be standard as on February 29 which means that it should not be NPA
• Housing loan, education loans, credit card dues, auto loans, MSME loans, consumer durable loans and consumption loans are covered under the scheme

PM Modi to address nation through 'Mann Ki Baat' today

Prime Minister Modi had invited suggestions from the people, for the 70th edition of the programme

Amid covid-19 restrictions, India to celebrate Dusshera today

• Vijayadashami, also known as Dussehra, marks the victory of Goddess Durga over the invincible Buffalo king Mahishasura.
• The occasion is seen as the day when Lord Ram defeated Ravana, which marks triumph of good over evil

How to have a covid-safe holiday season

We need to figure out how to be festive during this pandemic.

IMF urges bank regulators to extend curbs on dividends, buybacks

• The US Fed is conducting this year’s second stress test to see whether the country’s biggest banks can withstand further economic pressures in a lingering pandemic
• Under an adverse economic scenario considered by the IMF, the world’s banks would fall $420 billion below regulatory capital requirements