The business wrap: Centre pushes key demonetisation deadlines to Nov 24, and six other top stories
The government said Rs 2,000 notes will be available at ATMs from tomorrow, and mobile wallet firms claimed a spike in profits since the scheme was announced.
A look at the headlines in this sector right now:
- Old notes to be accepted at government hospitals, fuel pumps till November 24: The daily ATM withdrawal limit was increased to Rs 2,500, and cash weekly withdrawal up to Rs 24,000 will now be allowed.
- Recalibrated ATMs to dispense Rs 2,000 notes from tomorrow, says economic secretary: Shaktikanta Das said there would be enough cash and more recalibrated ATMs soon, and reiterated the Centre’s call to not panic.
- Paytm, MobiKwik claim boost in business after currency demonetisation: Both companies have also announced their intentions to expand their offline presence by partnering with merchants across the country.
- Reliance Jio skips cellular operators meeting in opposition to its voting rules: The current procedure at the COAI gives the three biggest telecom operators in India – Bharti Airtel, Idea and Vodafone – 68% of the total votes.
- Two bank unions slam government’s demonetisation exercise: All India Bank Officers’ Association and All India Bank Employees Association members said the Centre’s programme was unplanned and put extreme pressure on bank staffers.
- Centre extends toll exemption from demonetisation deadline to November 18 midnight: Officials said the government relaxed the deadline to facilitate smooth traffic movement across all national highways and provide relief to cash-starved people.
- TVS CMD Venu Srinivasan is Sir Dorabji Tata Trust’s newest trustee: The chairman and managing director of TVS Motors was appointed on October 31.
