The business wrap: Markets end flat ahead of exit poll results, and nine other top stories
In other headlines: RBI will issue new Rs 10 notes with better security features, and Paytm is going to charge 2% deposit for adding money using a credit card.
A look at news in the sector right now:
- Markets end flat as investors trade cautiously ahead of exit poll results: Experts had predicted a spurt in buying if there was any clear trend suggesting a BJP win, particularly in Uttar Pradesh.
- RBI will issue new Rs 10 notes with improved security features: The old notes will still be valid, the central bank has clarified.
- Paytm will charge 2% deposit fee for adding money to wallet using credit card: The step has been taken to discourage users from misusing ‘zero fee transfers’ scheme to take money out of the Paytm wallets and into bank accounts.
- SBI needs minimum account balance penalty to offset Jan Dhan costs, says Arundhati Bhattacharya: The chairperson said the bank had not received any ‘formal communication’ from the Centre asking it to reconsider its decision.
- WhatsApp is testing a feature that lets businesses talk to users, but supposedly keeps spam at bay: This might be a way for the messaging service to finally make some money.
- Do not have enough money to settle Rs 9,000-crore loan, Vijay Mallya tells Supreme Court: The apex court asked the fugitive businessman whether he had honestly disclosed his assets.
- China hints at inviting other emerging economies into Brics during September summit: These might come under a new banner, Brics-plus, said Foreign Minister Wang Yi.
- Uday Kotak sells 1.5% stake in Kotak Mahindra Bank worth Rs 2,255 crore to comply with RBI directive: The Central bank had directed him to gradually bring down his shareholdings as the bank’s promoter.
- Foreign NGOs face challenges in India, says US after Compassion International is forced to shut shop: A State Department spokesperson said obstacles hindering the functioning of charities in the country were a ‘matter of concern’.
- Andhra Pradesh CM Chandrababu Naidu’s son declares assets that have increased 23 times in 5 months: Nara Lokesh’s shares in a family enterprise were worth Rs 2.52 crore in October 2016, but have gone up to Rs 273.84 crore since then.