A look at the headlines in the sector right now:

  1. Centre claims 70% of rural citizens are using digital modes of payment: The IT Ministry said that 85% of rural merchants have started providing online options to customers across districts and blocks.
  2. European Union accuses Facebook of providing misleading information on WhatsApp acquisition: The company had told competition authorities that it would have been unable to match user accounts from both services.
  3. Reliance Communications signs deal with Brookfield to sell stake in its mobile tower business: The company’s assets will be demerged into a separate new firm that will be 100% owned and managed by the Canadian infrastructure group.
  4. RBI withdraws provision allowing questioning of deposits above Rs 5,000 for KYC-compliant accounts: On Monday, the central bank had announced that old currency note deposits above Rs 5,000 would be restricted to once per account until December 30.
  5. Cyrus Mistry sues Tata Sons for ‘oppression and mismanagement’: The conglomerate said it was unfortunate that the ousted chairman had not been able to ‘graciously accept the decision of the same Board that appointed him’.
  6. US and Canada ban oil and gas drilling in Atlantic and Arctic Ocean territorial waters: President-elect Donald Trump will have to contest the move in court if he opts to pursue his campaign promise to expand exploratory projects.
  7. Centre issues ordinance to allow disbursement of government salaries through cashless methods: The existing provisions of payment in current coin or currency notes will be permitted as well, the Labour Ministry clarified in a statement.
  8. Arun Jaitley claims small traders can save up to 46% of their taxes by going digital: The finance minister said that by migrating to the banking system, these businesses will be able to maintain their books better.