A look at the headlines in the sector right now:

  1. 2017’s first trading day ends in decline following a drop in banking stocks: Lending rate cuts by public banks and low-cost housing schemes announced by Prime Minister Narendra Modi hurt sentiments.
  2. Total deposits in Jan Dhan Yojana accounts rise to Rs 87,000 crore 45 days after demonetisation: The Income Tax Department said it was investigating areas and bank branches where the largest sums of money had been deposited under the scheme.  
  3. Ahead of GST Council meet, Opposition parties in touch over state powers, compensation formula: Several states have demanded full control over the movement of goods and services as well as businesses with an annual turnover of Rs 1.5 crore and less.
  4. Patanjali biggest disruptive force in India’s FMCG sector in 2016, finds Assocham-TechSci report: The Baba Ramdev-promoted company saw an annual growth of 146%, with a turnover of $769 million for the 2016 financial year, according to the study.
  5. Service charge at restaurants is voluntary, clarifies Centre: The government directed states to advise hotels and restaurants to display the notification at their premises.
  6. Samsung will reveal the results of the Galaxy Note7 investigation this month, says report: The South Korean manufacturer had said it would probe all possible causes that led to its product catching fire. 
  7. Infosys replaces general counsel with ‘mutual agreement’: The firm’s Deputy General Counsel Gopi Krishnan will replace David Kennedy till a new candidate is hired.