The business wrap: 2,500 select fuel stations to start dispensing cash, and six other top stories
Chances of a rate hike brought down Sensex by almost 100 points, while Nifty hit a six-moth low, and Bill Gates backtracked on his support for demonetisation.
A look at the headlines in this sector right now:
- You can soon withdraw Rs 2,000 from select petrol pumps: Public sector oil companies decided to pitch in to help reduce long queues at banks and ATMs.
- Prospects of rate hike, weakening rupee and demonetisation hit stock market: Sensex nosedived more than 100 points and Nifty50 slumped to a six-month low of 8,074.
- Bill Gates pulls a one-eighty, a day after calling demonetisation a ’bold move’: The billionaire philanthropist had said it was an ‘important step away from a shadow economy’, but later only emphasised the need for a digitised economy.
- Multiple banks reduce their fixed deposit rates by up to 1%: According to experts, the rate cut may lead to reduction in lending rates in the coming days.
- Federal Reserve chairperson Janet Yellen rejects rumours of her stepping down: She said she has no plans to quit before her four-year term ends in early 2018.
- Demonetisation hits Manipur media, no newspapers will be published from today: Publishers and distributors decided to stop the press as they are unable to carry out business because lower denomination notes are unavailable.
- Reliance signs pact with GE for digital transformation of industrial sector: RIL will use GE’s operating system to cater to customers in multiple sectors.