A look at the headlines in the sector:
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.