A look at the headlines in the sector right now:

  1. India’s GDP growth slows to 5.7% in the first quarter of 2017 from 7.9% last year: The manufacturing sector saw a sharp decline to 1.2% in April-June from 10.7% in the corresponding period in 2016.
  2. Suspicious banking transactions rose by three lakh in 2016-17, says RBI: The central bank’s report said high-denomination notes still make up two-thirds of currency in circulation even after demonetisation.
  3. ‘Wretched’ Jan Dhan accounts are misused to hide dubious money, says Niti Aayog vice president: Rajiv Kumar said he knew friends who had used their domestic help and drivers’ accounts in collusion with banks.   
  4. Markets close in green after volatile trading session, Sensex up 84 points, Nifty rose above 9,900: The expiry of August derivative contracts and the expected release of Gross Domestic Product data later in the day made investors cautious.   
  5. Supreme Court restrains former Ranbaxy promoters Singh brothers from selling Fortis shares: Following the order, its shares tanked by more than 5%.
  6. This company has to change, says Uber’s new CEO Dara KhosrowshahiHe added that new talent need to be recruited, particularly a chief financial officer and a chairperson of the board.
  7. CBI files 18 FIRs into allegedly illegal land deals, one against Robert Vadra-linked firm: The Congress had accused the state government of misusing the investigative agency.  
  8. McDonald’s tells tribunal it does not want out-of-court settlement with former franchise CPRL: The NCLAT issued notices to both parties, and asked them to file their replies within a week.    
  9. Nearly 99% of demonetised notes back in the system, says RBI’s annual report: The central bank said these figures were only an estimate and may be corrected later for ‘numerical authenticity’.