The business wrap: Withdrawal limit hiked to Rs 50,000 from February 20, and six other top stories
In other headlines: RBI keeps key lending rates unchanged, and Elon Musk said Tesla hopes to debut in India later this year.
A look at the headlines in the sector right now:
- No post-remonetisation withdrawal limit from savings accounts March 13 onwards: The RBI said the cap will be raised to Rs 50,000 from February 20.
- RBI keeps key rates unchanged, raises concerns about Brexit and uncertain US economic policy: The central bank took a cautious stance despite expectations of a cut.
- Tesla may debut in India later this year, says Elon Musk: While the Model 3 sedan is available for $35,000, its price in India will be much higher after a hefty import duty is levied.
- Infosys shares drop over 1% after reports say its founders raised governance concerns with its board: The stock hit a low of Rs 933.30 on the Bombay Stock Exchange Sensex.
- Sensex ends lower after RBI keeps repo rate unchanged: The BSE index plunged over 180 points after the central bank’s announcement.
- Facebook shareholders seek to replace Mark Zuckerberg with independent board chairperson: In a proposal submitted by four SumOfUs members, they said an independent chair will be able to provide a balance of power between the CEO and the board.
- Lok Sabha passes Bill to make holding more than ten old notes illegal: Arun Jaitley said the Specified Bank Notes (Cessation of Liabilities) Bill would eliminate the possibility of them being used as a parallel currency.
