The business wrap: Government to make payments over Rs 5,000 electronically, and 6 other top stories
In other headlines, the stock market recovered after a weak opening, and Paytm would split its wallet and e-commerce businesses by 2017.
A look at the headlines in this sector right now:
- Finance Ministry limits cash payment by government departments to Rs 5,000: All dues over this amount are to be made via e-payment facilities.
- Sensex closes 118 points up, Nifty by 42 as markets rebound from weak opening, Asian cues: The Euro currency dropped following Italian Prime Minister Matteo Renzi’s resignation.
- Paytm will separate its wallet and e-commerce businesses by early 2017: The digital wallet section of the company will be transferred to newly incorporated Paytm Payments Bank Ltd.
- RBI to issue new Rs 20 and Rs 50 notes, but you can still use the old ones: Urjit Patel’s signature will be on the new currency, though it is unclear when they will be released.
- WhatsApp to end support for several ‘outdated’ phones by December-end: Officials said its service would be incompatible with devices that use Android 2.1 and 2.2, as well as the iPhone 3GS/iOS 6.
- I-T department rejects two pre-demonetisation declarations of Rs 2 lakh crore, Rs 13,860 crore: The Finance Ministry said that an enquiry has been launched against these declarants.
- Apple confirms that it is developing self-driving cars: There have been rumours for long about the tech giant’s interest in entering a market that Google, Tesla, GE and Ford have been trying to consolidate.
