The business wrap: RBI retains March 2017 deadline for bank balance sheets, and 6 other top stories
The SBI chief predicted a return of partial normalcy after the demonetisation exercise within 10 days, and smartphone companies reported a spike in sales.
A look at the headlines in this sector right now
- RBI deputy governor reasserts March 2017 deadline for banks to clean up balance sheets: In October, the bank had said it would deal with non-performing assets in a pragmatic manner.
- Normalcy will return in 10 days, says SBI chief Arundhati Bhattacharya: A report published by the bank in March had indicated that scrapping the high-value currency notes was on the cards.
- Smartphone sales in India up, more than 30 million units shipped during Q3: The International Data Corporation said the rise in handset trade was because of massive online sales and preparations for the festive season.
- British Virgin Islands fines Mossack Fonseca firm $440,000 for regulatory violations in Panama Papers case: A leak of documents from the law firm’s database in April revealed the hidden offshore wealth of leaders and celebrities, including 500 Indians.
- Indian trade indices lose morning momentum, with Sensex closing at 26,298 and Nifty at 8,126: Observers predict short-term volatility and downtrend in the market.
- Petrol rates slashed by Rs 1.46, diesel by Rs 1.53 per litre: The price drop excludes state levies and the actual cut will be higher after considering them.
- Use of indelible ink initiated to stop repeat currency exchanges: Banks have started using the ink to mark customers in certain metro cities.