The business wrap: Delhi HC quashes plea against 2.5 lakh wedding limit, and six other top stories
The central bank said a maximum of Rs 10,000 can be withdrawn from Jan Dhan bank accounts in a month, and Indian markets surged following global cues.
A look at the headlines right now:
- Delhi High Court dismisses plea against Rs 2.5 lakh demonetisation withdrawal limit for weddings: The bench had earlier said that the government has provided a ‘relaxation’ wherever necessary on the issue of demonetisation.
- Reserve Bank of India sets monthly withdrawal limit of Rs 10,000 for Jan Dhan bank accounts: The central bank said the temporary move would prevent benami property transactions and money laundering.
- Sensex closes 259 points higher, Nifty soars to 8,224: Indian markets reacted to international cues, positive United States growth scores and expectations of a GDP data announcement.
- Morgan Stanley lowers Flipkart valuation by 38% to $5.54 billion, fourth cut in nine months: The e-commerce company was valued at $15.2 billion when it last raised capital in July.
- Parliament canteens go the ‘cashless economy’ way: Lok Sabha Speaker Sumitra Mahajan inaugurated the plastic money payment option at all eating facilities within the premises.
- India needs to improve broadband coverage, says Trai Chairperson RS Sharma: Sharma expressed concern over India’s relatively poor digital infrastructure.
- Report indicates British industrialist George Buckley may replace Tata Sons chairperson Cyrus Mistry: A report by SkyNews says the leading entrepreneur is a top contender for the vacant post.
