quick reads

The business wrap: RBI has no data on black money seized since note ban, and 6 other top stories

Other headlines: The service sector contracted again in August because of GST, and IDBI Bank has asked the Supreme Court to restore the Jaypee insolvency case.

A look at the headlines in the sector right now:

  1. RBI tells parliamentary panel it has no data on black money recovered since demonetisation: The central bank also does not know whether there will be such note ban drives at regular intervals in the future.  
  2. GST rollout hits India’s service sector for a second month in a row: A survey by Nikkei India found that business activity and work orders were affected by the new tax regime again in August.
  3. IDBI Bank wants insolvency case restored against Jaypee Infratech, moves Supreme Court: The bankruptcy proceedings against the realty firm were initiated as it had defaulted on a Rs 526-crore loan from the lender.  
  4. Sensex, Nifty finish higher after intra-day fall, stocks of pharmaceutical companies decline: Coal India gained the most on both indices, whereas Bharti Airtel was the biggest loser in the session.  
  5. RBI includes HDFC in its list of banks ‘too big to fail’: Banks with assets that exceed 2% of annual Gross Domestic Product are identified as Domestic Systemically Important Banks.  
  6. Twitter blocks handles, tweets on Kashmir after letter from government: The Supreme Court asked internet giants for details on complaints against child porn, rape videos .
  7. To ensure women’s safety in Delhi, no permits for taxis without stickers on child lock reminders: The state transport authority has made it mandatory for cabs to have at least four stickers reminding passengers to have the lock disabled before a trip starts.  
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The latest version features India's first BS VI norms-compliant engine and a host of 'intelligent' features.

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This article was produced by the Scroll marketing team on behalf of Mercedes Benz and not by the Scroll editorial team.