1. Saving Jet Airways: Lenders May Try to Get Tatas Interested AgainWith Etihad Airways looking to exit the beleaguered Jet Airways, lenders are set to re-initiate talks with the Tata Group as a possible new investor in the Indian airline.According to top sources, the lenders have already sent out feelers to the Tatas and may make a formal offer soon. “All the stakeholders and the government are keen to keep Jet Airways afloat. The lenders will reach out to multiple players, including the Tatas, as they have shown interest in acquiring Jet Airways in the recent past,” said a source.In November, the Tata Group had said that it had held preliminary talks with Jet though no proposal was made. The talks did not progress after the Tata board advised the group to proceed with caution. Since then, there have been no conversations between the Tatas and the Jet board.(Source: The Hindu Business Line)Unpaid Salaries, Bank Debts & More: What’s Ailing Jet Airways2. Jet Turbulence: IndiGo Poaches Over 100 PilotsIndiGo is hiring more than 100 Boeing 737 commander-level pilots, primarily those exiting Jet Airways, as the country’s biggest airline looks to overcome a flying-crew shortage and establish its dominance amid an exodus of personnel from the financially-stressed airline.A top industry source aware of IndiGo’s hiring plans said that it would take six months to train the Boeing pilots so that they could fly A320s, an aircraft type IndiGo operates.In addition, the carrier has already hired about 130 expatriate pilots from all over the world.(Source: The Economic Times)3. Reliance Reroutes Fuels to Venezuela From India, EuropeRefinery major Reliance Industries (RIL) is selling fuels to Venezuela from India and Europe to sidestep sanctions that bar US-based companies from dealing with the South American nation’s state-run PDVSA, according to trading sources and Refinitiv Eikon data.Reliance had been supplying alkylate, diluent naphtha and other fuels to Venezuela through its US-based subsidiary before Washington in late January imposed sanctions aimed at curbing the Organisation of the Petroleum Exporting Countries (Opec) member’s oil exports and ousting Socialist President Nicolas Maduro.At least three vessels chartered by the Indian conglomerate supplied refined products to Venezuela in recent weeks, and another vessel carrying gas-oil is expected to set sail to the South American nation as well, according to the sources and data.(Source: The Economic Times)QBiz: RIL to Invest in Hathway, Den; Hershey to Expand in India4. US Federal Reserve’s Rate Pause Augurs Well for Inflow of Foreign FundsThe latest move by the US Federal Reserve to keep its policy interest rates unchanged is likely to provide further leg-up to the rally at Dalal Street.The US central bank’s decision indicates it is not in a hurry to raise rates in the near-to-mid-term, which translates into a higher spread on earnings yield for foreign investors buying Indian equities.After the Fed’s announcement, the yield on the 10-year US government bond moved lower and settled at 2.51 per cent, against 2.54 per cent a day before.(Source: Business Standard)5. Election Fever? Jan Dhan Accounts Show Steep, Steady Increase in BalanceThe balances across banks in Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts are showing a steep increase in recent months.Up to August-September 2018, the balance in the accounts were increasing at the rate of ₹600 crore to ₹800 crore a month. For instance, in September, the total funds went up a modest ₹782 crore compared to the previous month.In October 2018, before elections to five State assemblies began, there was a ₹4,474-crore jump. In November, however, there was a sudden dip.From December again, there has been a steep rise in the total balance, and it has since been steadily increasing.For instance, from December 2018 to January 2019, the balance went up by ₹2,438 crore followed by ₹3,207 crore and ₹3,476 crore in February and March, respectively. The balance in the middle of every month is taken into consideration to arrive at comparative figures.(Source: The Hindu Business Line)Where Is the Dhan for the Jans Who Joined the Jan Dhan Scheme?6. L&T CEO Tries Dinner Diplomacy to Convince Mindtree Co-founderIn a bid to assuage concerns over L&T’s bid to take over Mindtree, SN Subrahmanyan, MD and CEO of the engineering conglomerate, has invited Krishnakumar Natarajan, the IT service firm’s co-founder and executive chairman, to dinner.“I called Mr Krishnakumar and invited him for lunch and dinner. I don’t have a tussle with anyone,” Subrahmanyan told BusinessLine. “He is an iconic gentlemen. I have the greatest respect for people who start a business and develop it because I’ve not been able to do that...it’s (Mindtree) a lovely company.”In what is billed as Corporate India’s first hostile takeover bid in the IT sector, L&T on Monday said it has entered into a definitive share purchase agreement with VG Siddhartha and his related entities, Coffee Day Trading Ltd and Coffee Day Enterprises Ltd, to acquire a 20.32 per cent stake in Mindtree.(Source: The Hindu Business Line)Mindtree Looks to Ward Off L&T Hostile Takeover Bid: 10 Key Points7. NBFCs Back in Business of HiringNon-banking finance companies (NBFCs) are beginning to add crucial jobs across various functions, indicating that stability has returned to a key sector that was unsettled last autumn by a liquidity squeeze and subsequent increases in capital costs.NBFCs could hire about 15,000 people in FY20, an estimate by recruitment firm TeamLease showed. Among those adding jobs are Mahindra Finance, Shriram Transport Finance, Piramal Capital, Aditya Birla Finance, IIFL, Magma FinCorp, and Ugro Capital.These companies have already begun recruitment, and the Jan-March quarter alone could account for half the expansion in FY19, which ends in 10 days. According to TeamLease, NBFCs have hired around 10,000 employees in FY19.(Source: The Economic Times)8. No Resolution: ABG Shipyard Headed for LiquidationABG Shipyard Ltd, once India’s biggest private shipbuilder, is headed for liquidation as its lenders’ panel has rejected the resolution plan submitted by London-based Liberty House for the debt-laden company.Sundaresh Bhat, the resolution professional for ABG Shipyard, has filed an application with the Ahmedabad Bench of the National Company Law Tribunal (NCLT) seeking the liquidation of the shipbuilder under Section 33 (2) of the Insolvency and Bankruptcy Code (IBC), according to papers filed with the bankruptcy court.The Committee of Creditors (CoC) has approved a resolution backing the liquidation plan. The yard owes about ₹18,245 crore to a clutch of banks led by ICICI Bank.(Source: The Hindu Business Line)9. 120 Startups Get Angel Tax Exemption From GovtIn less than a month (27 February onwards) after 127 startups registered with Department for Promotion of Industry and Internal Trade (DPIIT) had applied for angel tax exemption through Form-2, around 120 of them have been granted exemption from Section 56(2) vii(b) of the Income-Tax Act, 1961 in an email notification on 20 March.DPIIT had issued notification on 19 February pertaining to the number of years since incorporation, turnover, and amount raised by startups up to Rs 25 crore in angel funding to apply for the exemption.(Source: Financial Express)Govt Eases Angel Tax Exemption, Expands Definition of ‘Start-Ups’ We'll get through this! Meanwhile, here's all you need to know about the Coronavirus outbreak to keep yourself safe, informed, and updated. The Quint is now available on Telegram & WhatsApp too, Click here to join.