A look at the headlines in this sector right now:

  1. Impact of cash crunch will be negative on GDP, says Fitch Ratings: Demonetisation was a one-off event which would not generate a significant shift in economic activity from the informal to the formal sector, the agency said.
  2. Sensex rises by 456 points, Nifty by 148 as IT stocks rally because of fall in rupee: A rise in Asian markets also contributed to the positive investor sentiment.  
  3. Scrapped Rs 500 and Rs 1,000 notes can now be exchanged at RBI counters only: The limit for exchange has been capped at Rs 2,000.
  4. Adani secures land deals to set up solar plants in Australia worth $300 million: The energy giant said that this project would be in addition to the controversial coal project in Queensland.
  5. Paytm discontinues point-of-sale feature on app a day after launching it, says security a concern: ‘Based on some suggestions from the industry, we have decided to add additional certifications and features before making it available to merchants.’
  6. Tata Motors, Kingfisher yet to pay Rs 1,000 crore each in indirect tax: The Parliament was informed of the conglomerates’ unpaid dues.  
  7. Niti-Aayog to identify all ways to transition India into a cashless economy: The panel will put together all potential digital payment options.