The business wrap: GST Bill likely on Rajya Sabha agenda next week, and 6 other top stories
Banking operations were hit because of a nationwide strike, and Flipkart has decided to lay off more than 1,000 'underperforming' employees.
A look at the headlines in this sector right now:
- Congress hints at possible consensus on GST Bill after Arun Jaitley meets party leadership: However, other Opposition parties cried neglect and have accused the BJP and the Congress of striking their own deal.
- Bank strike across country today, more than 8 lakh public sector staff join protest: The agitation against the proposed merger of SBI and its associated banks will affect everyday services such as deposits, withdrawals and cheque clearance.
- Flipkart has decided to lay off employees who do not meet the performance bar: The e-commerce major confirmed the plan, but it refrained from revealing definite figures.
- Delhi High Court asks SpiceJet to deposit Rs 580 crore in share transfer dispute: Kalanithi Maran and his Kal Airways had moved the court against the budget airline for non-issuance of share warrants after transfer of ownership in 2015.
- Sensex drops 156.76 points to close at 28,051.86, Nifty falls 27.80 points to 8,638.50: The banking sector was hit amid a nationwide strike among public sector staff.
- FDI inflow rose 53% in the last two years, says Arun Jaitley: The finance minister said India attracted the highest-ever amount of foreign funds in 2015-16 owing to the Centre's efforts to improve ease of doing business.
- RBI unlikely to cut rates in August 9 monetary policy review, says rating agency ICRA: The rates will most probably remain unchanged because the Consumer Price Index inflation hit around 5.8% in June, close to the RBI's upper end target of 4% (plus/minus 2%).
