The business wrap: Rajiv Bajaj says the idea of demonetisation was wrong, and 6 other top stories
In other headlines: Sensex closed 167 points up and Nifty rose by 44, and Urjit Patel said the benefits of the note ban will take time to show in the economy.
A look at the headlines in the sector right now:
- You cannot blame bad execution if an idea itself was wrong, Rajiv Bajaj says on demonetisation: The managing director of Bajaj Auto also said that ‘Make in India’ was likely to become ‘Mad in India’ because of regulatory hurdles.
- Sensex closes 167 points higher, Nifty by 44 as markets end week on positive note: The gains were led by private banks and pharmaceutical companies.
- Benefits of demonetisation will take time to reflect in Indian economy, says RBI chief Urjit Patel: The impact of the currency ban will be ‘a sharp V’, but the country is in a ‘good place’ in terms of financial stability, he said in an interview to CNBC-TV18.
- Samsung group chief Jay Y Lee arrested for embezzlement, bribery: He was accused of paying bribes worth millions to impeached president Park Geun-hye’s aide.
- NSE shuffles Nifty 50, replaces Idea and BHEL with Indian Oil Corporation, Indiabulls Housing: The changes, announced by NSE group company IISL, are part of the index’s semi-annual re-balancing.
- Finance Ministry says over Rs one lakh crore worth new Rs 500 notes have been printed: At least 22 million pieces of Rs 500 is being printed everyday, Security Printing Minting Corporation of India Limited Chairman and Managing Director Praveen Garg said.
- Deadline for submitting Aadhaar extended till March 31: The Employees’ Provident Fund Organisation had earlier set February 28 as its last date.