BackMint Evening Digest: India's purchase of Russian coal spikes, benefits for Agniveers and more
Mint Evening Digest: Read top business news, equity market precursors, and economic and banking news updates from India and across the world for 18 June, 2022
PremiumIndia's purchase of Russian coal spikes
India's purchases of Russian coal have spiked in recent weeks despite global sanctions on Moscow, as traders offer discounts of up to 30%, according to Reuters. (Read here)
Benefits for Agniveers after 4 years of service
Amid widespread protest against the new recruitment scheme, the central government has announced several incentives including reserving 10% vacancies in its paramilitary and the defence ministry for Agnipath retirees. (Read here)
IPPB introduces maintenance charges for virtual debit cards
Previously, the IPPB did not charge any fees for card reissue, but as of June 15, 2022, it has implemented annual maintenance fees of ₹25 and reissuance fees of ₹25 inclusive of GST on virtual debit cards (VDC). (Read here)
Doctors, social media influencers required to pay TDS on freebies
Doctors and social media influencers are among those who will be subject to a new rule which mandates a 10% tax deducted at source (TDS) on freebies they receive from businesses for sales promotion. (Read here)
Mint Mid-day digest
As Agnipath protests get violent, Rajnath Singh holds meeting in Delhi
Hundreds of army hopefuls disrupted train and road traffic while police fired tear gas shells to remove them during violent protests in numerous states across India, including Bihar, Uttar Pradesh, Telangana, Delhi, Himachal Pradesh, Uttarakhand and Punjab, over the Central government's Agnipath scheme for armed forces recruitment. (Read more)
SpaceX fires several employees for letter criticising Elon Musk
Elon Musk's SpaceX has fired several employees who were involved in an open letter that blasted the colourful billionaire for his behavior. (Read more)
WTO strikes deal after negotiations go down to the wire
After negotiations spilled over to the sixth day, 164 countries of the World Trade Organisation finally sealed a package deal in the wee hours on Friday in Geneva with India leading the course.
In a first major agreement in nine years, the deal includes six major issues of importance for developing countries including food security, balanced outcome fisheries subsidies, response to pandemic, and patents waiver on Covid-19 vaccines. (Read more)
5 risks of investing in bank fixed deposits
Fixed deposit is considered a safe option for investment, but it also has certain risks. The investor should be aware of before taking the decision of investing in the fixed deposit scheme. Let’s understand this in detail. (Read more)
This airport has been ranked the best in India, South Asia; it is also one of world's top 50
The Skytrax World Airport Awards named Delhi's Indira Gandhi International (IGI) airport the finest in India and South Asia for the fourth year in a row, according to an official statement released on June 17. (Read more)
Mint Morning Digest
Tariff hikes prompt 7 million to switch off phones in April
Bharti Airtel, Reliance Jio and Vodafone Idea lost active subscribers in a month, for the second such time in a decade, after losing subscribers in April 2020 during the Covid pandemic lockdown. Read more
Crypto industry goes slow on hiring amid market downturn
The downturn in the crypto market globally has put the Indian web3 industry on edge, with firms taking a cautious approach to hiring. Read more
Coal India explores green mining bets
Coal India Ltd (CIL) said on Friday that it is looking at green mining options to lessen any adverse environmental impact by leveraging a slew of ecofriendly technologies in both underground and open cast mining. Read more
Cooling appliances sell like hot cakes Mar-May
White goods manufacturers clocked record sales of cooling appliances such as air conditioners and refrigerators between March and May as they gained from a searing heat wave in several parts of the country and pent-up demand from the previous two seasons when sales took a severe hit due to pandemic-related curbs. Read more
Packed consumer goods cos push lower unit packs as inflation bites
As inflation bites into household budgets, makers of fast moving consumer goods are cranking up availability of low unit packs as well as introducing “bridge packs" to ensure affordability of everything from soaps to biscuits.Read more
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