A look at the headlines in the sector right now:
- Centre claims 70% of rural citizens are using digital modes of payment: The IT Ministry said that 85% of rural merchants have started providing online options to customers across districts and blocks.
- European Union accuses Facebook of providing misleading information on WhatsApp acquisition: The company had told competition authorities that it would have been unable to match user accounts from both services.
- Reliance Communications signs deal with Brookfield to sell stake in its mobile tower business: The company’s assets will be demerged into a separate new firm that will be 100% owned and managed by the Canadian infrastructure group.
- RBI withdraws provision allowing questioning of deposits above Rs 5,000 for KYC-compliant accounts: On Monday, the central bank had announced that old currency note deposits above Rs 5,000 would be restricted to once per account until December 30.
- Cyrus Mistry sues Tata Sons for ‘oppression and mismanagement’: The conglomerate said it was unfortunate that the ousted chairman had not been able to ‘graciously accept the decision of the same Board that appointed him’.
- US and Canada ban oil and gas drilling in Atlantic and Arctic Ocean territorial waters: President-elect Donald Trump will have to contest the move in court if he opts to pursue his campaign promise to expand exploratory projects.
- Centre issues ordinance to allow disbursement of government salaries through cashless methods: The existing provisions of payment in current coin or currency notes will be permitted as well, the Labour Ministry clarified in a statement.
- Arun Jaitley claims small traders can save up to 46% of their taxes by going digital: The finance minister said that by migrating to the banking system, these businesses will be able to maintain their books better.