A look at the headlines in the sector:

  1. Financial resolution bill for banks will not compromise the rights of depositors, says Arun Jaitley: The Bill will create a corporation to classify financial establishments based on their risk factor, and take over firms that are at critical risk.
  2. Sensex and Nifty gain over 1% each after RBI keeps interest rates unchanged: There was heavy buying in the utilities, capital goods, auto, power, metal, banks and financials sectors.   
  3. Economy will have to grow at 10.6% in fifth year to equal UPA’s 10-year average, says Manmohan Singh: The former prime minister also said the BJP had not done enough to tackle allegations of corruption levelled against party leaders.   
  4. Google shuts down apps section in Chrome Web Store for Mac, Windows and Linux users: The company is now trying to get developers to build Progressive Web Apps for the desktop and will launch it in mid-2018.
  5. Need to bring electricity distribution losses below 15% for 24-hour power supply, says minister: RK Singh said at least 16 states have been incurring losses of 15% or more.
  6. Bitcoin rises above $14,000, up more than 40% this month: The largest cryptocurrency by market value has soared from less than $1,000 at the start of the year.
  7. Paytm acquires deals platforms Nearbuy and Little, to merge both: Paytm is set to benefit from the large number of merchant partnerships with the two platforms.