A look at the headlines in this sector right now:

  1. Employees’ PF body reduces interest rate on deposits to 8.65%: The decision was made after it was found that retaining the earlier figure of 8.8% would have left a deficit of Rs 383 crore.
  2. You can only deposit old notes worth more than Rs 5,000 once till December 30, says Finance Ministry: The Reserve Bank of India is expected to announce several demonetisation-related rules on Monday evening.
  3. PayPal files trademark infringement complaint against Paytm for using similar colours in its logo: The global payments company claimed the Indian firm wanted access its ‘global reputation and grow its user base’.
  4. Sensex falls 115 points, Nifty ends below 8,110 points: The trend was driven by lack of positive cues, a fall in the rupee against the dollar and fear of outflow of foreign portfolio investments.
  5. Apple to challenge €13-billion EU tax ruling, calls itself a ‘convenient target’: The European Commission had said the company illegally gained from a ‘selective tax treatment’ in Ireland.
  6. Indian Hotels shareholders will vote for removal of Cyrus Mistry tomorrow: They had received a requisition from Tata Sons to convene an extraordinary general meeting to remove the ousted chairman from its board board.
  7. Axis Bank suspends suspicious accounts after Income Tax raids: The bank said they had filed Suspicious Transaction Reports (STRs) with the Financial Intelligence Unit (FIU-IND) about the accounts that were later probed by investigative agencies.