The business wrap: Banks to submit data on old notes collected by Friday, and six other top stories
In other headlines: Indian markets ended 2016 on a high note, and Narendra Modi launched the ‘Bhim’ e-wallet.
A look at the headlines in the sector right now:
- RBI directs banks to submit reports on collection of demonetised notes by Friday night: Income Tax Department officials said they were investigating deposits amounting to at least Rs 4 lakh crore into 1.14 lakh bank accounts.
- Indian markets end 2016 on positive note as Sensex gains 260 points, Nifty 82: The benchmark indices of the Bombay Stock Exchange and National Stock Exchange gained 1.95% and 3% in the calendar year.
- Narendra Modi launches ‘Bhim’ e-wallet to ease making digital transactions: The prime minister said that with security upgrades, only a fingerprint will be required to make payments using the app.
- April-November fiscal deficit hits Rs 4.58 lakh crore mark, 86% of budget estimate: As much as Rs 6.21 lakh crore was collected as tax revenue, which is 59% of the full-year budget estimate of Rs 10.54 lakh crore, said the Controller General of Accounts.
- Apple may begin making iPhones in Bengaluru from April: According to reports, the company is ‘very serious’ about beginning assembly operations, and full manufacture later, in India by end 2017.
- Government extends deadline for tax settlement scheme: The offer to finally settle disputes has been pushed to January 31 from December 31, said the Central Board of Direct Taxes.
- Trai to conduct drive test for call drops in 12 cities next month: For the first time, the telecom regulator will be covering highways, too, while checking network issues.