The business wrap: Exemptions for old Rs 500 notes to end at midnight, and six other top stories
In other headlines: Four Tata shareholders moved court against Nusli Wadia's removal, and the cash crunch pulled down retail inflation to two-year low of 3.63%.
A look at the headlines in this sector right now:
- Exemptions set for use of Rs 500 notes to end at midnight: After Wednesday, the public will only be able to deposit these notes in their bank accounts till December 30.
- Minority shareholders at three Tata companies move Bombay High Court against Nusli Wadia’s removal: The three firms – Tata Chemicals, Tata Motors and Tata Steel – have called meetings next week to remove Wadia and Cyrus Mistry as directors.
- Retail inflation drops to two-year low of 3.63% in November: Demonetisation has affected demand and people’s purchasing power, according to analysts.
- Rs 12.4 lakh crore in demonetised notes collected after November 8, says RBI: The apex bank directed banks across the country to store CCTV footage of operations between November 8 and December 30.
- 93% of TCS shareholders voted for Cyrus Mistry’s removal as director: The ousted Tata Sons chairperson had skipped the Extraordinary General Meeting, after urging shareholders in a letter to ‘vote with their conscience’.
- Poor demand brings down silver prices by Rs 100 in India: Gold, on the other hand, remained firm at Rs 28,450.
- India’s wholesale inflation drops for third straight month to 3.15% in November: Lack of demand and people’s current low purchasing power because of the currency ban resulted in the decrease.
