A look at the headlines in this sector right now:
- I-T Department to send notices to over 60,000 ‘high-risk’ individuals as part of Operation Clean Money: They are being investigated for ‘excessive cash sales’ during the demonetisation drive.
- Narendra Modi launches Bhim-Aadhaar platform for merchants: Using their fingerprint, the application will allow merchants to accept payments from customers with bank accounts linked with the 12-digit number.
- Employees of SBI’s subsidiaries seek clarity on working conditions in merged entity: The Hyderabad High Court has asked the bank to not act on the employment options provided by staff of its associate banks till June 15.
- SoftBank invests Rs 1,675 crore in Ola in fresh round of funding: Experts said the Japanese firm pumped in the money to give the cab-hailing service more strength to compete against Uber
- Man dragged out of flight to sue United Airlines, says his lawyer: Attorney Thomas Demetrio said his client David Dao had suffered a broken nose, a concussion and two damaged front teeth in the incident.
- RBI increases restrictions on banks over bad loan limits and capital ratios: Around 16 banks face flak if their December quarter numbers do not meet the criteria.
- Delhi police arrest man involved in credit and debit card scam: The accused was selling information to those operating fake call centres.