A look at the headlines in the sector right now:

  1. Sensex rises 103 points, Nifty by 19 as markets close higher for sixth straight session: Reliance Industries Limited was the day’s biggest gainer, climbing 11.17% to its highest levels since June, 2009, by the end of the day.    
  2. No plans to introduce Rs 1,000 notes, focus on supply of Rs 500 notes, says Shaktikanta Das: It had been reported that the RBI was considering introducing a new series of the larger denomination, which was demonetised on November 8, 2016.    
  3. SBI ATM dispensed fake Rs 2,000 notes with ‘Children Bank of India’ stamp in Delhi: Officials said they are investigating the matter after currency bearing ‘serial number 000000’ were dispensed. 
  4. Average pay rise for Indian employees this year will be 9.5%, suggests survey of 1,000 companies: The Aon Hewitt study said this is lower than the previous year because of political and economic changes including Brexit, the US elections and demonetisation. 
  5. FreeCharge CEO Govind Rajan resigns within nine months of joining: Former Housing.com executive Jason Kothari will oversee the business operations at the digital payment platform for the time being.
  6. Snapdeal founders to take 100% pay cut and let go of several staffers as part of profitability plan: Media reports said the e-commerce portal will lay off around 600 employees.
  7. ‘India needs to create a bad bank quickly’: Arvind Subramanian says addressing banks’ bad loans is the top priority of the government.