The benchmark Sensex reclaimed the 26,000-mark by rising over 260 points and the Nifty regained the key 8,000—level in early trade today, after six days of losses, on widespread buying amid firm Asian cues.
About 25 per cent of the country’s automated teller machines (ATMs), or 47,000, have been recalibrated since the exercise began last Wednesday, to enable them to start dispensing the new Rs.500 and Rs.2000 denomination bank notes, banking industry sources said.
The panic and anxiety that followed in the immediate wake of Prime Minister Narendra Modi’s demonetisation announcement had largely died down, Punjab National Bank (PNB) CMD Usha Ananthasubramanian said. She added that improved supply of Rs.500 notes would further ease the pressure.
Facebook Inc, facing withering criticism for failing to stem a flood of phony news articles in the run-up to the U.S. presidential election, is taking a series of steps to weed out hoaxes and other types of false information, chief executive Mark Zuckerberg said in a Facebook post Friday evening. Continue reading “Facebook discloses steps to fight false news and hoaxes”
Moving ahead with sale of Sahara assets to recover money, regulator SEBI today lined up as many as five land parcels of the beleaguered group for an e-auction next month at a total reserve price of over Rs. 130 crore. Continue reading “SEBI to auction Sahara group’s five land parcels”
Extending losses for the fifth session, the Sensex fell over 49 points in early trade on Friday on sustained foreign capital outflows after hints of rate hike in December by US Federal Reserve Chair Janet Yellen. Continue reading “Sensex down on US rate hike hints, rupee plunge”
K.C. Chakrabarty, who was deputy governor of Reserve Bank of India (RBI) between June 2009 and March 2014, said that there was no economic rationale behind the ongoing demonetisation drive and that such a proposal had been floated in the past too. Excerpts from a conversation: Continue reading “UPA government also proposed it, we said no”