A look at the headlines in the sector right now:
- 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.
- 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.
- ‘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.
- 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.
- Supreme Court restrains former Ranbaxy promoters Singh brothers from selling Fortis shares: Following the order, its shares tanked by more than 5%.
- This company has to change, says Uber’s new CEO Dara Khosrowshahi: He added that new talent need to be recruited, particularly a chief financial officer and a chairperson of the board.
- 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.
- 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.
- 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’.